Ten Year Comparative Financial Information

Public Accounts of Canada 2015 Volume I - Top of the page Navigation

Please note: this page is wider than normal.

The following tables provide a ten year comparison of financial information based on the accounting policies explained in Note 1 to the audited consolidated financial statements in Section 2 of this volume.

Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of operations and accumulated deficit. It consists of two columns: a detailed listing of components; Year ended March 31 — divided into ten columns presenting, in chronological order, the previous nine years and the current year. The first series of rows presents the revenues which are divided in sub‑sections with related subtotals. The final row of the series presents the total of revenues. The second series of rows presents the expenses which are divided in sub‑sections with related subtotals. The final row of the series presents the total of expenses. The following row presents the annual (surplus) or deficit — result from Total Revenues minus Total Expenses. The last series of rows presents the accumulated deficit and its related components.

(in millions of dollars)

Table 1.1
Government of Canada — Detailed Consolidated Statement of Operations and Accumulated Deficit

  Year ended March 31
2006 2007 2008 2009 2010 2011 2012Link to footnote 1 2013Link to footnote 2 2014 2015
Revenues —                    
Tax Revenues —                    
Income tax revenues —                    
Personal 103,770 110,575 113,528 116,612 105,040 114,661 120,537 125,728 130,811 135,743
Corporate 33,209 39,361 42,212 31,243 32,247 31,953 33,641 34,986 36,587 39,447
Non‑resident 4,529 4,877 5,693 6,298 5,293 5,137 5,300 5,073 6,404 6,216
Total 141,508 154,813 161,433 154,153 142,580 151,751 159,478 165,787 173,802 181,406
Other taxes and duties —                    
Goods and services tax 33,020 31,296 29,920 25,740 26,947 28,379 28,370 28,821 30,998 31,349
Energy taxes 5,076 5,128 5,139 5,161 5,178 5,342 5,328 5,381 5,486 5,528
Customs import duties 3,330 3,704 3,903 4,036 3,490 3,520 3,862 3,979 4,239 4,581
Other excise taxes and duties 4,730 5,189 5,245 4,869 4,958 5,662 5,546 5,370 5,413 5,724
Total 46,156 45,317 44,207 39,806 40,573 42,903 43,106 43,551 46,136 47,182
Total tax revenues 187,664 200,130 205,640 193,959 183,153 194,654 202,584 209,338 219,938 228,588
Employment Insurance Premiums 16,535 16,789 16,558 16,887 16,761 17,501 18,556 20,395 21,766 22,564
Other Revenues —                    
Crown corporations 7,198 7,503 6,504 7,760 7,622 12,937 12,024 11,448 11,455 13,480
Other programs 10,932 12,261 14,951 16,944 12,920 13,939 14,274 13,952 16,836 16,359
Net foreign exchange 2,014 1,714 1,872 1,736 1,647 1,809 1,669 1,502 1,682 1,355
Total other revenues 20,144 21,478 23,327 26,440 22,189 28,685 27,967 26,902 29,973 31,194
Total Revenues 224,343 238,397 245,525 237,286 222,103 240,840 249,107 256,635 271,677 282,346
Expenses —                    
Transfer Payments —                    
Old age security benefits, guaranteed income supplement and spouse's allowance 28,992 30,284 31,955 33,377 34,653 35,629 38,045 40,255 41,786 44,103
Major transfer payments to other levels of government —                    
Canada health transfer 19,000 20,140 21,474 22,759 24,820 26,031 27,174 28,912 30,543 32,114
Canada social transfer 8,225 8,500 9,872 10,568 10,858 11,179 11,514 11,860 12,215 12,582
Fiscal arrangements 9,650 9,856 11,850 12,164 13,490 13,826 15,259 15,595 15,610 16,271
Other major transfers 3,882 3,985 2,923 985 7,772 1,751 2,847 2,003 2,107 2,142
Subtotal 40,757 42,481 46,119 46,476 56,940 52,787 56,794 58,370 60,475 63,109
Employment insurance benefits 14,417 14,084 14,298 16,308 21,586 19,850 17,647 17,099 17,300 18,052
Children's benefits 9,200 11,214 11,894 11,901 12,340 12,656 12,726 12,975 13,136 14,303
Other transfer payments 28,634 30,693 31,269 34,793 45,949 43,155 37,720 34,862 36,698 35,126
Total transfer payments 122,000 128,756 135,535 142,855 171,468 164,077 162,932 163,561 169,395 174,693
Other Program Expenses —                    
Crown corporations 5,076 5,109 5,185 5,859 7,400 7,584 8,198 9,512 7,484 7,590
Ministries 50,277 56,835 61,883 63,337 69,419 71,680 73,176 73,106 71,728 71,558
Total other program expenses 55,353 61,944 67,068 69,196 76,819 79,264 81,374 82,618 79,212 79,148
Total program expenses 177,353 190,700 202,603 212,051 248,287 243,341 244,306 246,179 248,607 253,841
Public Debt Charges 33,772 33,945 33,325 30,990 29,414 30,871 31,080 28,871 28,220 26,594
Total Expenses 211,125 224,645 235,928 243,041 277,701 274,212 275,386 275,050 276,827 280,435
Annual (Surplus) or Deficit (negative 13,218) (negative 13,752) (negative 9,597) 5,755 55,598 33,372 26,279 18,415 5,150 (negative 1,911)
Accumulated Deficit at Beginning of Year 494,717 481,499 467,268 457,637 463,710 519,097 551,668 591,040 609,391 611,881
International Financial Reporting Standards transition adjustment             3,337      
Other Comprehensive (Income) or Loss   (negative 479) (negative 34) 318 (negative 211) (negative 2,142) 2,292 (negative 64) (negative 2,660) 2,360
Accumulated Deficit at End of Year 481,499 467,268 457,637 463,710 519,097 550,327 583,576 609,391 611,881 612,330
Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of financial position. It consists of two columns: a detailed listing of components; As at March 31 — divided into ten columns presenting, in chronological order, the previous nine years and the current year. The first series of rows presents the liabilities which are divided in sub‑sections with related subtotals. The final row of the series presents the total of liabilities. The second series of rows presents the financial assets which are divided in sub‑sections with related subtotals. The final row of the series presents the total of financial assets. The following row presents the net debt — result from the total liabilities minus the total financial assets. The third series of rows presents the non‑financial assets and the total for this series. The last row of this table presents the accumulated deficit — result from the net debt minus the total non‑financial assets.

(in millions of dollars)

Table 1.2
Government of Canada — Detailed Consolidated Statement of Financial Position

  As at March 31Link to footnote 3
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Liabilities                    
Accounts Payable and Accrued Liabilities —                    
Other accounts payable and accrued liabilities 46,477 49,136 45,398 43,645 53,171 50,830 54,911 43,563 38,096 40,420
Amounts payable to taxpayers 38,402 41,388 49,010 50,845 48,251 48,648 50,952 54,877 52,600 56,198
Environmental liabilities 5,861 6,062 6,669 6,342 6,602 7,745 8,362 10,600 11,143 12,296
Deferred revenue 1,786 1,594 1,602 5,734 5,113 4,512 3,893 3,321 3,920 9,160
Interest and matured debt 7,875 7,516 7,182 6,919 6,853 6,733 6,379 5,955 5,585 5,240
Allowance for guarantees 1,031 815 602 514 535 592 506 428 386 317
Total accounts payable and accrued liabilities 101,432 106,511 110,463 113,999 120,525 119,060 125,003 118,744 111,730 123,631
Interest‑bearing Debt —                    
Unmatured debt —                    
Payable in Canadian currency —                    
Marketable bonds 261,134 257,482 253,550 295,186 367,962 416,080 448,140 469,039 473,319 487,881
Treasury bills 131,597 134,074 116,936 192,275 175,849 162,980 163,221 180,689 152,990 135,692
Retail debt 17,342 15,175 13,068 12,532 11,855 10,141 8,922 7,481 6,327 5,660
Bonds for Canada Pension Plan 3,102 1,743 1,042 523 452 27 11      
Subtotal 413,175 408,474 384,596 500,516 556,118 589,228 620,294 657,209 632,636 629,233
Payable in foreign currencies 14,085 10,372 9,498 10,381 8,243 7,628 10,715 10,802 16,030 20,267
Cross‑currency swap revaluation (negative 2,258) (negative 1,091) (negative 1,420) 3,690 (negative 4,233) (negative 5,091) (negative 4,448) (negative 3,419) 2,326 6,669
Unamortized discounts and premiums on market debt (negative 6,780) (negative 6,659) (negative 6,213) (negative 4,751) (negative 5,092) (negative 4,485) (negative 4,295) 3,231 3,184 4,296
Obligation related to capital leases 2,927 3,096 4,236 4,184 4,090 3,685 3,633 3,647 3,603 3,710
Other unmatured debt           190 453 917 1,179 1,005
Total unmatured debt 421,149 414,192 390,697 514,020 559,126 591,155 626,352 672,387 658,958 665,180
Pensions and other future benefits —                    
Public sector pensions 131,062 134,726 137,371 139,909 142,843 146,135 148,911 151,667 153,162 152,664
Other employee and veteran future benefits 43,369 45,123 47,901 50,311 54,227 58,206 61,915 67,301 71,959 76,140
Total pensions and other future benefits 174,431 179,849 185,272 190,220 197,070 204,341 210,826 218,968 225,121 228,804
Due to Canada Pension Plan 151 54 106 90 175 23 138 68 140 212
Other liabilities 5,342 5,157 5,789 5,833 6,412 6,292 6,795 5,978 5,774 5,790
Total interest‑bearing debt 601,073 599,252 581,864 710,163 762,783 801,811 844,111 897,401 889,993 899,986
Total Liabilities 702,505 705,763 692,327 824,162 883,308 920,871 969,114 1,016,145 1,001,723 1,023,617
Financial Assets                    
Cash and Accounts Receivable —                    
Cash and cash equivalents 21,149 22,696 13,729 46,985 28,450 14,323 17,143 27,341 31,429 34,999
Taxes receivable 59,113 66,492 65,902 71,911 69,063 78,626 86,006 92,115 92,489 98,499
Other accounts receivable 2,581 3,398 3,247 3,251 3,692 3,958 4,513 4,698 4,656 3,198
Total cash and accounts receivable 82,843 92,586 82,878 122,147 101,205 96,907 107,662 124,154 128,574 136,696
Foreign Exchange Accounts —                    
International reserves held in the Exchange Fund Account 40,936 44,673 42,904 51,194 53,701 54,041 62,141 63,381 77,365 91,961
International Monetary Fund — Subscriptions 10,673 11,106 10,752 12,011 9,823 9,792 9,842 9,694 10,883 11,129
International Monetary Fund — Loans         337 1,139 1,325 1,457 1,665 1,353
Less: International Monetary Fund — Notes payable and special drawing rights allocations 10,782 11,601 11,357 11,496 16,911 16,465 16,311 15,773 17,651 19,425
Total foreign exchange accounts 40,827 44,178 42,299 51,709 46,950 48,507 56,997 58,759 72,262 85,018
Loans, Investments and Advances —                    
Enterprise Crown corporations and other government business enterprises 20,584 23,683 30,167 104,049 129,523 135,673 130,662 131,785 94,815 89,375
Other loans, investments and advances 21,305 21,411 20,702 21,044 23,158 22,876 22,258 23,134 22,820 24,306
Total loans, investments and advances 41,889 45,094 50,869 125,093 152,681 158,549 152,920 154,919 117,635 113,681
Public sector pension assets                 938 1,263
Total Financial Assets 165,559 181,858 176,046 298,949 300,836 303,963 317,579 337,832 319,409 336,658
Net Debt 536,946 523,905 516,281 525,213 582,472 616,908 651,535 678,313 682,314 686,959
Non‑financial Assets                    
Tangible capital assets 48,355 49,036 51,175 53,326 55,054 57,668 59,047 60,241 61,942 63,347
Inventories 5,875 5,988 6,248 6,348 6,192 6,830 6,996 7,453 7,316 7,250
Prepaid expenses and other 1,217 1,613 1,221 1,829 2,129 2,083 1,916 1,228 1,175 4,032
Total Non‑financial Assets 55,447 56,637 58,644 61,503 63,375 66,581 67,959 68,922 70,433 74,629
Accumulated Deficit 481,499 467,268 457,637 463,710 519,097 550,327 583,576 609,391 611,881 612,330
Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of change in net debt. It consists of two columns: a detailed listing of components; Year ended March 31 — divided into ten columns representing, in chronological order, the previous nine years and the current year. The first row presents the net debt at beginning of year as previously reported followed by a first series of rows presenting components related to accounting changes and restatements making up the total net debt at beginning of year as restated. The following rows present the transition adjustment related to International Financial Reporting Standards, change in net debt during the year, and the annual (surplus) or deficit. The second series of rows presents components related to change due to tangible capital assets, change due to inventories and change due to prepaid expenses. The following rows present the net (decrease) or increase in net debt due to operations — result from the addition of the annual (surplus) or deficit and the various changes; other comprehensive (income) or loss; and net (decrease) or increase in net debt. The last row of this table presents the net debt at end of year.

(in millions of dollars)

Table 1.3
Government of Canada — Detailed Consolidated Statement of Change in Net Debt

  Year ended March 31
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Net Debt at Beginning of Year — as Previously Reported 549,587 536,946 523,905 516,281 525,213 582,472 616,908 650,135 671,363 682,314
Accounting Changes and Restatement —                    
Accumulated sick leave entitlements             1,341 1,400    
Unamortized premiums and discounts on the buy‑back of bonds               5,669 5,387  
Loans expected to be repaid from future appropriations               1,795 1,563  
Net Debt at Beginning of Year — as Restated             618,249 658,999 678,313 682,314
International Financial Reporting Standards transition adjustment             3,337      
Change in Net Debt during the Year —                    
Annual (Surplus) or Deficit (negative 13,218) (negative 13,752) (negative 9,597) 5,755 55,598 33,372 26,279 18,415 5,150 (negative 1,911)
Change due to Tangible Capital Assets —                    
Acquisition of tangible capital assets 4,046 4,789 5,957 6,249 7,136 8,061 6,976 7,175 7,129 7,204
Amortization of tangible capital assets (negative 3,904) (negative 3,807) (negative 3,954) (negative 4,176) (negative 4,418) (negative 4,756) (negative 4,859) (negative 5,184) (negative 4,865) (negative 5,090)
Proceeds from disposal of tangible capital assets (negative 146) (negative 202) (negative 440) (negative 608) (negative 297) (negative 447) (negative 664) (negative 407) (negative 875) (negative 954)
Net (loss) or gain on disposal of tangible capital assets, including adjustments 149 (negative 99) 576 686 (negative 693) (negative 244) (negative 74) (negative 390) 312 245
Total change due to tangible capital assets 145 681 2,139 2,151 1,728 2,614 1,379 1,194 1,701 1,405
Change due to Inventories 350 113 260 100 (negative 156) 638 166 457 (negative 137) (negative 66)
Change due to Prepaid Expenses 82 396 (negative 392) 608 300 (negative 46) (negative 167) (negative 688) (negative 53) 2,857
Net (Decrease) or Increase in Net Debt due to Operations (negative 12,641) (negative 12,562) (negative 7,590) 8,614 57,470 36,578 27,657 19,378 6,661 2,285
Other Comprehensive (Income) or Loss   (negative 479) (negative 34) 318 (negative 211) (negative 2,142) 2,292 (negative 64) (negative 2,660) 2,360
Net (Decrease) or Increase in Net Debt (negative 12,641) (negative 13,041) (negative 7,624) 8,932 57,259 34,436 29,949 19,314 4,001 4,645
Net Debt at End of Year 536,946 523,905 516,281 525,213 582,472 616,908 651,535 678,313 682,314 686,959
Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of cash flow. It consists of two columns: a detailed listing of components; Year ended March 31 — divided into ten columns representing, in chronological order, the previous nine years and the current year. The first series of rows presents the cash provided or (used) by operating activities. The second series of rows presents the cash used by capital investment activities. The third series of rows presents the cash provided or (used) by investing activities. The following row presents the total cash generated or (used) before financing activities — result from the addition of cash provided and used by operating, capital investment and investing activities. The fourth series of rows presents the cash (used) or provided by financing activities. The following rows present the net increase or (decrease) in cash — result from the total cash generated or (used) before and after financing activities; and the cash and cash equivalents at beginning of year. The last row presents the cash and cash equivalents at end of year — result from the cash and cash equivalents at beginning of year plus the net increase or (decrease) in cash.

(in millions of dollars)

Table 1.4
Government of Canada — Detailed Consolidated Statement of Cash Flow

  Year ended March 31Link to footnote 4
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Operating Activities —                    
Annual Surplus or (Deficit) 13,218 13,752 9,597 (negative 5,755) (negative 55,598) (negative 33,372) (negative 26,279) (negative 18,415) (negative 5,150) 1,911
Items not affecting cash —                    
Share of annual profit in enterprise Crown corporations and other government business enterprises (negative 5,041) (negative 5,336) (negative 4,256) (negative 4,773) (negative 2,306) (negative 6,992) (negative 5,350) (negative 4,995) (negative 5,945) (negative 8,365)
Amortization of tangible capital assets 3,904 3,807 3,954 4,176 4,418 4,756 4,859 5,184 4,865 5,090
Net loss or (gain) on disposal of tangible capital assets, including adjustments (negative 149) 99 (negative 576) (negative 686) 693 244 74 390 (negative 312) (negative 245)
Change in taxes receivable (negative 5,636) (negative 7,379) 590 (negative 6,009) 2,848 (negative 9,563) (negative 7,380) (negative 6,109) (negative 374) (negative 6,010)
Change in pensions and other future benefits 3,303 5,418 5,423 4,948 6,850 7,271 5,144 8,142 5,215 3,358
Change in foreign exchange accounts 44 (negative 3,351) 1,879 (negative 9,410) 4,759 (negative 1,557) (negative 8,490) (negative 1,762) (negative 13,503) (negative 12,756)
Change in accounts payable and accrued liabilities 3,692 5,079 3,952 3,536 6,526 (negative 1,465) 5,943 (negative 6,259) (negative 7,014) 11,901
Change in cross‑currency swap revaluation (negative 1,336) 1,668 (negative 329) 5,110 (negative 7,923) (negative 858) 643 1,029 5,745 4,343
Net change in other accounts (negative 3,530) (negative 1,667) 1,797 2,752 2,281 (negative 129) 1,844 1,175 1,953 670
Cash provided or (used) by operating activities 8,469 12,090 22,031 (negative 6,111) (negative 37,452) (negative 41,665) (negative 28,992) (negative 21,620) (negative 14,520) (negative 103)
Capital Investment Activities —                    
Acquisition of tangible capital assets (negative 4,046) (negative 4,789) (negative 5,957) (negative 6,249) (negative 7,136) (negative 8,061) (negative 6,976) (negative 7,175) (negative 7,129) (negative 6,804)
Proceeds from disposal of tangible capital assets 146 202 440 608 297 447 664 407 875 954
Cash used by capital investment activities (negative 3,900) (negative 4,587) (negative 5,517) (negative 5,641) (negative 6,839) (negative 7,614) (negative 6,312) (negative 6,768) (negative 6,254) (negative 5,850)
Investing Activities —                    
Enterprise Crown corporations and other government business enterprises —                    
Equity transactions 2,012 2,602 2,436 1,495 (negative 3,226) 2,818 2,684 1,445 5,165 3,514
Issuance of loans and advances (negative 198) (negative 3,713) (negative 5,052) (negative 132,057) (negative 119,755) (negative 76,579) (negative 63,389) (negative 65,183) (negative 70,328) (negative 79,905)
Repayment of loans and advances 331 3,894 435 60,688 99,921 76,677 65,286 66,156 110,259 88,168
Issuance of other loans, investments and advances (negative 6,861) (negative 16,969) (negative 6,571) (negative 6,910) (negative 21,174) (negative 5,858) (negative 7,679) (negative 5,533) (negative 5,525) (negative 8,124)
Repayment of other loans, investments and advances 5,182 16,475 6,883 5,041 16,620 5,814 6,858 4,221 4,418 5,503
Cash provided or (used) by investing activities 466 2,289 (negative 1,869) (negative 71,743) (negative 27,614) 2,872 3,760 1,106 43,989 9,156
Total Cash Generated or (Used) Before Financing Activities 5,035 9,792 14,645 (negative 83,495) (negative 71,905) (negative 46,407) (negative 31,544) (negative 27,282) 23,215 3,203
Financing Activities —                    
Issuance of Canadian currency borrowings 363,824 369,354 343,755 531,668 554,892 553,464 567,707 579,456 512,009 468,021
Repayment of Canadian currency borrowings (negative 366,123) (negative 373,886) (negative 366,493) (negative 415,801) (negative 499,383) (negative 520,569) (negative 536,430) (negative 542,063) (negative 536,364) (negative 471,891)
Issuance of foreign currency borrowings 15,859 11,586 11,099 24,500 22,212 8,195 12,743 7,782 12,011 16,961
Repayment of foreign currency borrowings (negative 18,061) (negative 15,299) (negative 11,973) (negative 23,616) (negative 24,351) (negative 8,810) (negative 9,656) (negative 7,695) (negative 6,783) (negative 12,724)
Cash (used) or provided by financing activities (negative 4,501) (negative 8,245) (negative 23,612) 116,751 53,370 32,280 34,364 37,480 (negative 19,127) 367
Net Increase or (Decrease) in Cash 534 1,547 (negative 8,967) 33,256 (negative 18,535) (negative 14,127) 2,820 10,198 4,088 3,570
Cash and Cash Equivalents at Beginning of Year 20,615 21,149 22,696 13,729 46,985 28,450 14,323 17,143 27,341 31,429
Cash and Cash Equivalents at End of Year 21,149 22,696 13,729 46,985 28,450 14,323 17,143 27,341 31,429 34,999
Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of non-budgetary transactions and of non‑financial assets. It consists of two columns: a detailed listing of components; Year ended March 31 — divided into ten columns representing, in chronological order, the previous nine years and the current year. The first series of rows presents the loans, investments and advances which are divided in sub‑sections with related subtotals. The final row for the series presents the total of loans, investments and advances. The second series of rows presents the pensions and other future benefits. The third series of rows presents the other liabilities. The fourth series of rows presents the non financial assets. The fifth series of rows presents the other transactions. A final row for this table presents the total non-budgetary transactions and non‑financial assets — result from the addition of the totals of the five preceding sections.

(in millions of dollars)

Table 1.5
Government of Canada — Detailed Consolidated Statement of Non-Budgetary Transactions and of Non-Financial Assets

  Year ended March 31Link to footnote 5
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Loans, Investments and Advances —                    
Enterprise Crown corporations and other government business enterprises —                    
Loans and advances —                    
Canada Mortgage and Housing Corporation 200 148 258 (negative 57,470) (negative 10,399) 2,693 2,974 3,472 41,951 10,465
Business Development Bank of Canada     (negative 1,000) (negative 6,284) (negative 4,961) (negative 978) 662 (negative 653) (negative 1,106) (negative 1,356)
Farm Credit Canada     (negative 3,840) (negative 7,610) (negative 4,481) (negative 1,627) (negative 1,768) (negative 1,848) (negative 855) (negative 662)
Other (negative 67) 33 (negative 35) (negative 5) 7 10 29 2 (negative 59) (negative 185)
Subtotal 133 181 (negative 4,617) (negative 71,369) (negative 19,834) 98 1,897 973 39,931 8,262
Investments —                    
Share of annual profit (negative 5,041) (negative 5,336) (negative 4,256) (negative 4,773) (negative 2,306) (negative 6,992) (negative 5,350) (negative 4,995) (negative 5,945) (negative 8,365)
Other comprehensive (income) or loss   (negative 479) (negative 34) 318 (negative 211) (negative 2,142) 2,292 (negative 64) (negative 2,660) 2,360
Dividends 2,027 2,604 2,436 2,095 1,391 2,818 2,028 1,445 5,215 2,341
Capital (negative 15) (negative 3)   (negative 600) (negative 4,617)   656   (negative 50) 1,030
Transition adjustment and other             3,337     143
Subtotal (negative 3,029) (negative 3,214) (negative 1,854) (negative 2,960) (negative 5,743) (negative 6,316) 2,963 (negative 3,614) (negative 3,440) (negative 2,491)
Total (negative 2,896) (negative 3,033) (negative 6,471) (negative 74,329) (negative 25,577) (negative 6,218) 4,860 (negative 2,641) 36,491 5,771
Less:                    
Loans expected to be repaid from future appropriations 63 66 32 (negative 473) (negative 103) (negative 64) (negative 119) (negative 1,519) (negative 480) 353
Unamortized discounts and premiums     (negative 19) 26   (negative 4) (negative 32)   1 (negative 22)
Total (negative 2,959) (negative 3,099) (negative 6,484) (negative 73,882) (negative 25,474) (negative 6,150) 5,011 (negative 1,122) 36,970 5,440
Other loans, investments and advances —                    
Portfolio investments (negative 101)     6 2   12 5   10
National governments, including developing countries 158 80 143 (negative 182) 235 69 40 18 (negative 7) (negative 606)
International organizations (negative 224) (negative 491) (negative 321) (negative 905) (negative 454) (negative 826) (negative 704) (negative 885) (negative 900) (negative 1,039)
Provincial and territorial governments 14 285 899 217 590 257 (negative 849) 803 849 765
Other loans, investments and advances (negative 1,524) (negative 367) (negative 410) (negative 1,005) (negative 4,926) 456 680 (negative 1,254) (negative 1,049) (negative 1,751)
Total (negative 1,677) (negative 493) 311 (negative 1,869) (negative 4,553) (negative 44) (negative 821) (negative 1,313) (negative 1,107) (negative 2,621)
Less: allowance for valuation (negative 915) (negative 387) (negative 398) (negative 1,527) (negative 2,440) (negative 326) (negative 1,439) (negative 436) (negative 1,421) (negative 1,135)
Total (negative 762) (negative 106) 709 (negative 342) (negative 2,113) 282 618 (negative 877) 314 (negative 1,486)
Total loans, investments and advances (negative 3,721) (negative 3,205) (negative 5,775) (negative 74,224) (negative 27,587) (negative 5,868) 5,629 (negative 1,999) 37,284 3,954
Pensions and Other Future Benefits —                    
Public sector pensions 1,483 3,664 2,645 2,538 2,934 3,292 2,776 2,757 557 (negative 823)
Other employee and veteran future benefits 1,820 1,754 2,778 2,410 3,916 3,979 3,707 5,386 4,658 4,181
Total pensions and other future benefits 3,303 5,418 5,423 4,948 6,850 7,271 6,483 8,143 5,215 3,358
Other Liabilities —                    
Due to Canada Pension Plan (negative 2,620) (negative 97) 52 (negative 16) 85 (negative 152) 115 (negative 70) 72 72
Other liabilities (negative 567) (negative 185) 632 44 579 (negative 120) 503 (negative 817) (negative 204) 16
Total other liabilities (negative 3,187) (negative 282) 684 28 664 (negative 272) 618 (negative 887) (negative 132) 88
Non‑Financial Assets —                    
Tangible capital assets (negative 145) (negative 681) (negative 2,139) (negative 2,152) (negative 1,728) (negative 2,614) (negative 1,379) (negative 1,194) (negative 1,701) (negative 1,405)
Inventories (negative 350) (negative 113) (negative 260) (negative 100) 156 (negative 638) (negative 166) (negative 458) 137 66
Prepaid expenses and other (negative 82) (negative 396) 392 (negative 608) (negative 300) 46 167 688 53 (negative 2,857)
Total non‑financial assets (negative 577) (negative 1,190) (negative 2,007) (negative 2,860) (negative 1,872) (negative 3,206) (negative 1,378) (negative 964) (negative 1,511) (negative 4,196)
Other Transactions —                    
Taxes receivable (negative 5,636) (negative 7,379) 590 (negative 6,009) 2,848 (negative 9,563) (negative 7,380) (negative 6,109) (negative 374) (negative 6,010)
Other accounts receivable (negative 327) (negative 817) 151 (negative 3) (negative 441) (negative 266) (negative 555) (negative 185) 42 1,458
Provincial, territorial and Aboriginal tax agreements account 2,316 410 (negative 1,311) (negative 168) 1,438 241 2,688 (negative 7,130) (negative 1,584) 951
Amounts payable to taxpayers 2,752 2,986 7,622 1,835 (negative 2,594) 397 2,304 3,925 (negative 2,277) 3,598
Other liabilities (negative 1,376) 1,683 (negative 2,359) 1,869 7,682 (negative 2,103) 951 (negative 3,054) (negative 3,153) 7,352
Total other transactions (negative 2,271) (negative 3,117) 4,693 (negative 2,476) 8,933 (negative 11,294) (negative 1,992) (negative 12,553) (negative 7,346) 7,349
Total Non‑Budgetary Transactions and Non‑Financial Assets (negative 6,453) (negative 2,376) 3,018 (negative 74,584) (negative 13,012) (negative 13,369) 9,360 (negative 8,260) 33,510 10,553
Table Summary

The table presents, in millions of dollars, a ten‑year comparative of the consolidated statement of foreign exchange, unmatured debt and cash transactions. It consists of two columns: a detailed listing of components; Year ended March 31 — divided into ten columns representing, in chronological order, the previous nine years and the current year. The first series of rows presents the foreign exchange accounts which are divided in sub‑sections with related subtotals. The final row for the series presents the total of foreign exchange accounts. The second series of rows presents the unmatured debt which is divided in sub‑sections and a related subtotal. The final row of the series presents the total of unmatured debt. The third series of rows presents the cash and cash equivalents at end of year.

(in millions of dollars)

Table 1.6
Government of Canada — Detailed Consolidated Statement of Foreign Exchange, Unmatured Debt and Cash Transactions

  Year ended March 31
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Foreign Exchange Accounts —                    
International reserves held in the Exchange Fund Account (negative 1,822) (negative 3,737) 1,769 (negative 8,290) (negative 2,507) (negative 340) (negative 8,100) (negative 1,240) (negative 13,984) (negative 14,596)
International Monetary Fund — Subscriptions 567 (negative 433) 354 (negative 1,259) 2,188 31 (negative 50) 148 (negative 1,189) (negative 246)
International Monetary Fund — Loans         (negative 337) (negative 802) (negative 186) (negative 132) (negative 208) 312
Subtotal (negative 1,255) (negative 4,170) 2,123 (negative 9,549) (negative 656) (negative 1,111) (negative 8,336) (negative 1,224) (negative 15,381) (negative 14,530)
Less: International Monetary Fund —                    
Special drawing rights allocations 113 (negative 48) 43 (negative 154) (negative 7,766) 30 (negative 48) 139 (negative 1,118) (negative 231)
Notes payable (negative 1,412) (negative 771) 201 14 2,351 416 202 398 (negative 760) (negative 1,543)
Subtotal (negative 1,299) (negative 819) 244 (negative 140) (negative 5,415) 446 154 537 (negative 1,878) (negative 1,774)
Total foreign exchange accounts 44 (negative 3,351) 1,879 (negative 9,409) 4,759 (negative 1,557) (negative 8,490) (negative 1,761) (negative 13,503) (negative 12,756)
Unmatured Debt —                    
Payable in Canadian currency —                    
Marketable bonds (negative 4,664) (negative 3,652) (negative 3,932) 41,636 72,776 48,118 32,060 20,899 4,280 14,562
Treasury bills 4,398 2,477 (negative 17,138) 75,339 (negative 16,426) (negative 12,869) 241 17,468 (negative 27,699) (negative 17,298)
Retail debt (negative 1,738) (negative 2,167) (negative 2,107) (negative 537) (negative 677) (negative 1,714) (negative 1,219) (negative 1,441) (negative 1,154) (negative 667)
Bonds for Canada Pension Plan (negative 291) (negative 1,359) (negative 700) (negative 519) (negative 71) (negative 425) (negative 16) (negative 11)    
Subtotal (negative 2,295) (negative 4,701) (negative 23,877) 115,919 55,602 33,110 31,066 36,915 (negative 24,573) (negative 3,403)
Payable in foreign currencies (negative 2,201) (negative 3,713) (negative 875) 883 (negative 2,138) (negative 615) 3,087 87 5,228 4,237
Cross‑currency swap revaluation (negative 1,336) 1,167 (negative 329) 5,110 (negative 7,923) (negative 858) 643 1,029 5,745 4,343
Unamortized discounts and premiums on market debt (negative 438) 121 446 1,462 (negative 341) 607 190 7,526 (negative 47) 1,112
Obligation related to capital leases (negative 5) 169 1,140 (negative 51) (negative 94) (negative 405) (negative 52) 13 (negative 44) 107
Other unmatured debt           190 263 464 262 (negative 174)
Total unmatured debt (negative 6,275) (negative 6,957) (negative 23,495) 123,323 45,106 32,029 35,197 46,034 (negative 13,429) 6,222
Cash and Cash Equivalents at End of Year —                    
In Canadian currency 21,152 22,701 13,733 46,989 28,124 13,902 16,493 27,130 31,415 34,716
In foreign currencies (negative 3) (negative 5) (negative 4) (negative 4) 326 421 650 211 14 283
Total cash and cash equivalents 21,149 22,696 13,729 46,985 28,450 14,323 17,143 27,341 31,429 34,999

Footnotes

Footnote 1

The 2012 Accumulated Deficit at Beginning of Year has been adjusted to include the restatement amount of $1,341 million for accumulated sick leave entitlements that was done in the course of the fiscal year 2012–2013.

Return to footnote 1 referrer

Footnote 2

The 2013 Accumulated Deficit at Beginning of Year has been adjusted to include the restatement amount of $5,669 million and $1,795 million for the buy‑back of bonds and the loans expected to be repaid from future appropriations done in the course of the fiscal year 2013–2014.

Return to footnote 2 referrer

Footnote 3

Certain comparative figures have been reclassified to conform to current year's presentation. In particular, the 2014 comparative figures have been reclassified to segregate a significant class of pensions and other employee future benefits related to consolidated Crown corporations and other entities which were included in other accounts payable and accrued liabilities. The comparative figures for the previous years have not been reclassified.

Return to footnote 3 referrer

Footnote 4

Certain comparative figures have been reclassified to conform to current year's presentation. Refer to the footnote in table 1.2 for additional information.

Return to footnote 4 referrer

Footnote 5

Certain comparative figures have been reclassified to conform to current year's presentation. Refer to the footnote in table 1.2 for additional information.

Return to footnote 5 referrer

Public Accounts of Canada 2015 Volume I - Bottom of the page Navigation