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(SAB 101) of the United States Securities and Exchange Commission and providing general interpretive guidance on the application of revenue recognition accounting principles. These recommendations are effective for the Corporation’s fiscal year beginning February 1, 2004. The Corporation is currently assessing the impact of the new recommendations on the Corporation’s Consolidated Financial Statements. 

## Revenue arrangements with multiple deliverables 

Also in December 2003, EIC 142 “Revenue Arrangements with Multiple Deliverables” was issued. EIC 142 addresses certain aspects of the accounting by a vendor for arrangements under which multiple revenue-generating activities will be performed. These recommen- 

## Share data 

dations are effective for the Corporation’s fiscal year beginning February 1, 2004. The Corporation is currently assessing the impact of the new recommendations on the Corporation’s Consolidated Financial Statements. 

## Hedging relationships 

In December 2001, the AcSB issued AcG-13 “Hedging Relationships,” as amended. In June 2002, EIC-128 “Accounting for Trading, Speculative or Non-Hedging Derivative Financial Instruments” was also issued. AcG-13 establishes the criteria for identification, designation, documentation and effectiveness of hedging relationships for the purpose of applying hedge accounting. EIC-128 estab- lishes that a freestanding derivative financial instrument that gives rise to a financial asset or 

financial liability and is entered into for trading or speculative purposes, or that does not qualify for hedge accounting under AcG-13, should be recognized on the balance sheet and measured at fair value, with changes in fair value recognized in current income. Both AcG-13 and EIC-128 will be effective for the fis- cal year beginning February 1, 2004, and the Corporation expects its hedging program to comply with the new requirements. Accordingly, the adoption of the new recom- mendations is not expected to have a material impact on the Corporation’s Consolidated Financial Statements. 

For new accounting recommendations that have been adopted by the Corporation in the fiscal year ended January 31, 2004, see note 1 to the Consolidated Financial Statements “Changes in accounting policies.” 

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$^{(1)}$10 votes each, convertible at the option of the holder into one Class B Share (Subordinate Voting). 

$^{(2)}$Convertible at the option of the holder into one Class A Share (Multiple Voting) under certain conditions. See note 14 to the Consolidated Financial Statements. 

## SHARE OPTIONS: 

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## Quarterly information 

The table containing the quarterly information is shown at the end of this MD&A. 

March 30, 2004 

Additional information relating to Bombardier, including the Corporation’s Annual Information Form, can be found on SEDAR at www.sedar.com or on Bombardier’s Web site at www.bombardier.com. 

