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## NOTE 22. FINANCIAL INSTRUMENTS (CONT ’ D) 

The following table summarizes, by major currency, the Corporation’s forward foreign exchange contracts as at January 31: 

<img src='content_image/134625.jpg'>

$^{(1)}$Notional amounts for the buy currency are expressed in the currency of origin, except for other categories which are expressed in Canadian dollars. 

$^{(2)}$The rate represents the weighted average committed exchange rate. 

<img src='content_image/134624.jpg'>

$^{(1)}$Notional amounts for the buy currency are expressed in the currency of origin, except for other categories which are expressed in Canadian dollars. 

$^{(2)}$The rate represents the weighted average committed exchange rate. 

b) Interest-rate swap agreements 

Interest-rate swap agreements are contracts in which two counter-parties agree to exchange cash flows, over a period of time, based on a rate applied to a specified notional principal amount. Typically, one counter-party agrees to pay a fixed interest rate in exchange for a variable interest rate, determined on the same notional principal. 

Bombardier entered into interest-rate swap agreements to convert a long-term debt and certain operating lease commitments from variable to fixed rates. The interest-rate swap agreements were as follows as at January 31, 2004 and 2003: 

<img src='content_image/134623.jpg'>

$^{(1)}$Canadian deposit offering rate. 

