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## NOTE 4. FINANCE RECEIVABLES (CONT ’ D) 

## b) Wind-down portfolios 

The manufactured housing portfolio consists of contractual promises made by the buyers of manufactured housing units in the U.S. to pay amounts owed under retail instalment sales contracts. BC obtains a security interest in the housing units purchased. 

The business aircraft portfolio consists of loans and lease receivables, mainly with third-party purchasers of new and pre-owned business aircraft. During fiscal year 2004, the Corporation sold a significant portion of this portfolio for $339 million US ($475 million) at the carrying value of the assets sold. Payment of $42 million US ($56 million) is conditional upon the performance of the portfolio sold. This amount is presented in other assets on the consolidated balance sheets. 

The consumer finance portfolio relates primarily to the financing of third-party recreational products in the form of revolving credit and instalment loans, secured by the related recreational products, to consumers in the U.S. 

The industrial equipment portfolio consists mainly of loans and finance leases receivables to companies in the ski industry. Following the decision to no longer originate loans in this portfolio, the portfolio has been reclassified from continuing to wind-down portfolios in fiscal year 2004. 

Receivable factoring consisted of third-party trade receivables originated from Bombardier’s manufacturing segments. 

## Lease receivables 

Lease receivables are mostly concentrated in the commercial aircraft long-term leasing and the business aircraft portfolios, as well as the “other” wind-down portfolios and consist of the following, before-allowance-for-credit losses as at January 31: 

<img src='content_image/109107.jpg'>

## Minimum receipts 

Minimum receipts in connection with finance receivables for the next five fiscal years and thereafter were as follows: 

<img src='content_image/109108.jpg'>

