Consolidated Crown corporations and other entities

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This section provides all related information on consolidated Crown corporations and other entities. Consolidated entities are those which rely on Government funding as their principal source of revenue and are controlled by the Government.

Consolidation involves the combination of the accounts of these corporations and other entities on a line-by-line and uniform basis of accounting and elimination of inter-organizational balances and transactions. Consequently, the corporations and other entities' accounts must be adjusted to the Government's basis of accounting. All corporations and other entities follow either Canadian Public Sector Accounting Standards or International Financial Reporting Standards. The financial information reported by all of the consolidated Crown corporations and other entities in the following summary tables have been prepared and reported based upon Canadian Public Sector Accounting Standards.

Summary financial statements of consolidated Crown corporations and other entities

The following tables display details of the assets, liabilities, revenues and expenses of the consolidated Crown corporations and other entities.

For those corporations and other entities having year ends other than March 31, the data are based on unaudited interim financial statements which have been prepared on a basis consistent with the most recent audited financial statements.

Table 4.1 and Table 4.2 summarize the financial transactions and results of operations as reported by the consolidated Crown corporations and other entities.

Financial assets include cash and cash equivalents, receivables, loans and investments. Financial assets are segregated between third parties and Government, Crown corporations and other entities. The financial assets reported under Government, Crown corporations and other entities represent receivables, loans and investments between related parties. Non-financial assets represent the unexpensed portion of capital assets, such as buildings, machinery and equipment in use or under construction, as well as inventories, prepayments and other items of expenditure which will be expensed as these assets are used. Liabilities include payables, borrowings and other obligations. Liabilities are segregated between third parties and Government, Crown corporations and other entities. Borrowings from third parties represent long-term debts payable of the corporations and other entities. Other third party liabilities are amounts due for purchases, pensions and other employee future benefits, various accruals, capital leases and like items. The liabilities reported under Government, Crown corporations and other entities represent payables and borrowings between related parties.

Revenues are segregated between third parties and Government, Crown corporations and other entities. Government, Crown corporations and other entities' revenues are broken down further to identify revenues arising from normal operations and financial assistance received or receivable from the Government in respect of the current year's operations. Expenses are segregated between third parties and Government, Crown corporations and other entities. Equity transactions other than current year's net income or loss are segregated between equity adjustments and other, remeasurement gains and losses and equity transactions with the Government. Equity adjustments and other include prior period adjustments and other miscellaneous items recorded by the corporations and other entities. Remeasurement gains and losses comprise certain unrealized gains and losses on financial instruments that are recognized in the Statement of Remeasurement Gains and Losses, but excluded from the annual surplus (deficit). Upon realization, these gains and losses are included in the annual surplus (deficit). Equity transactions with the Government include dividends declared or transfers of profits to the Government, as well as capital transactions with the Government. The line "Conversion to the Government accounting basis for consolidation purposes" represents the adjustments required to bring the corporations and other entities' accounting policies in line with those of the Government.

These tables present financial information on consolidated parent Crown corporations and other entities, as well as financial information on wholly-owned subsidiaries that are considered "deemed parent Crown corporations" and thus consolidated directly in the consolidated financial statements of the Government and excluded from the consolidated financial statements of their parent Crown corporations. The quarterly Inventory of Government of Canada Organizations includes a complete list of all parent Crown corporations, wholly-owned subsidiaries, other subsidiaries and associates.

Consolidated Crown corporations are also categorized as being either agents or non-agents of the Crown. Agency status may be expressly stated in the incorporating legislation or conferred under the provisions of the Government Corporations Operation Act. In accordance with section 54 of the Financial Administration Act, the payment of all money borrowed by consolidated agent Crown corporations and interest thereon is a charge on and payable out of the Consolidated Revenue Fund. Table 4.3 summarizes such borrowings for the consolidated corporations and the changes for the year ended March 31, 2016. Contingent liabilities of consolidated corporations and other entities are presented in Table 4.4.

A summary of financial assistance under budgetary appropriations to consolidated Crown corporations for the year ended March 31, 2016 is provided in Table 4.5. Differences in figures reported in Table 4.2 and those reported in Table 4.5 result from the use of different accounting policies and from items in transit.

Table summary

The table presents, in thousands of dollars, the financial position of consolidated Crown corporations and other entities as at March 31 of the current year. It consists of eight columns: a list of consolidated Crown corporations and other entities; Assets, divided into three columns—Financial, sub-divided into two columns—Third parties, and Government, Crown corporations and other entities, Non-financial, Total assets; Liabilities, divided into three columns—Third parties, sub-divided into two columns—Borrowings, and Other, Government, Crown corporations and other entities, Total liabilities; Accumulated profits (losses); Contributed surplus; Capital stock; Equity of Canada; and Total liabilities and equity. The first series of rows presents Crown corporations and conversion adjustments to the Government accounting basis for consolidation purposes. The second series of rows presents other entities and conversion adjustments to the Government accounting basis for consolidation purposes. A final row presents the total for this table.

Table 4.1
Financial position of consolidated Crown corporations and other entities—Assets, liabilities and equity as at March 31, 2016

(in thousands of dollars)

Consolidated Crown corporations and other entities Assets Liabilities Accumulated profits (losses) Contributed surplus Capital stock Equity of Canada Total liabilities and equity
Financial Non-financial Total assets Third parties Government, Crown corporations and other entities Total liabilities
Third parties Government, Crown corporations and other entities Borrowings Other
Crown corporationsLink to footnote 1
Atomic Energy of Canada Limited 230,665 29,878 726,127 986,670 8,043,175 748,249 8,791,424 (negative 7,992,907) 173,153 15,000 (negative 7,804,754) 986,670
Canada Council for the Arts 333,947 328 26,917 361,192 80,108 339 80,447 280,745 280,745 361,192
Canada Development Investment Corporation PPP Canada Inc 1,421,719 597 1,080 1,423,396 2,854 1,415,253 1,418,107 5,289 5,289 1,423,396
Canadian Air Transport Security Authority 93,509 84,426 377,569 555,504 118,678 603 119,281 436,223 436,223 555,504
Canadian Broadcasting Corporation 1,310,576 206 1,179,862 2,490,644 361,427 613,743 22 975,192 1,515,452 1,515,452 2,490,644
Canadian Commercial Corporation 215,394 501 3,599,873 3,815,768 3,786,884 215 3,787,099 18,669 10,000 28,669 3,815,768
Canadian Dairy Commission 4,881 100,867 105,748 2,261 53,272 50,215 105,748 105,748
Canadian Museum for Human Rights 13,240 275 328,860 342,375 180,157 161,738 341,895 480 480 342,375
Canadian Museum of History 76,676 12,240 244,095 333,011 24,840 239,511 264,351 68,660 68,660 333,011
Canadian Museum of Immigration at Pier 21 10,842 135 19,989 30,966 8,618 19,872 28,490 2,476 2,476 30,966
Canadian Museum of Nature 9,738 527 189,907 200,172 36,559 171,502 208,061 (negative 7,889) (negative 7,889) 200,172
Canadian Race Relations Foundation 26,279 2,157 56 28,492 351 78 429 28,063 28,063 28,492
Canadian Tourism Commission 26,887 1,144 3,842 31,873 11,999 107 12,106 19,767 19,767 31,873
Defence Construction (1951) Limited 40,713 15,966 4,448 61,127 33,716 745 34,461 26,666 26,666 61,127
Federal Bridge Corporation Limited, The 42,590 4,921 341,235 388,746 88,312 30,483 31,148 149,943 238,803 238,803 388,746
International Development Research Centre 77,182 841 11,268 89,291 59,162 12,290 71,452 17,839 17,839 89,291
Jacques Cartier and Champlain Bridges Inc. 85,134 15,228 502,853 603,215 141,796 141,796 461,419 461,419 603,215
Marine Atlantic Inc. 148,210 13,000 426,604 587,814 101,299 2,626 103,925 483,889 483,889 587,814
National Arts Centre Corporation 24,028 14 59,470 83,512 15,131 69,707 84,838 (negative 1,326) (negative 1,326) 83,512
National Capital Commission 177,887 5,361 613,059 796,307 140,858 7,343 148,201 648,106 648,106 796,307
National Gallery of Canada 23,880 656 80,740 105,276 7,946 88,136 96,082 9,194 9,194 105,276
National Museum of Science and Technology 38,693 1,685 72,905 113,283 8,578 91,432 100,010 13,273 13,273 113,283
Standards Council of Canada 6,931 710 3,631 11,272 5,930 3 5,933 5,339 5,339 11,272
Telefilm Canada 7,259 57,152 4,715 69,126 42,866 152 43,018 26,108 26,108 69,126
VIA Rail Canada Inc. 454,357 9,914 954,445 1,418,716 206,430 916,317 1,122,747 286,669 9,300 295,969 1,418,716
Windsor-Detroit Bridge Authority 80,253 67,012 147,265 28,944 28,944 118,321 118,321 147,265
Total—Crown corporations 4,981,470 257,862 9,941,429 15,180,761 452,000 13,784,377 4,027,603 18,263,980 (negative 3,290,672) 183,153 24,300 (negative 3,083,219) 15,180,761
Conversion to the Government accounting basis for consolidation purposes (negative 129,430) (negative 47,761) (negative 177,191) (negative 30,706) (negative 3,757,397) (negative 3,788,103) 3,818,365 (negative 183,153) (negative 24,300) 3,610,912 (negative 177,191)
Net Crown corporations on the Government accounting basis 4,852,040 257,862 9,893,668 15,003,570 452,000 13,753,671 270,206 14,475,877 527,693 527,693 15,003,570
Other entitiesLink to footnote 2
Canada Foundation for Innovation 378,575 169,049 3,987 551,611 1,000 550,611 551,611 551,611
Canada Foundation for Sustainable Development Technology 14,521 1,293 15,814 1,019 14,795 15,814 15,814
First Nations Market Housing Fund 306,420 40,159 67 346,646 44,012 302,634 346,646 346,646
St. Lawrence Seaway Management Corporation 121,033 32,638 23,637 177,308 111,649 9,778 121,427 55,881 55,881 177,308
Capital Fund Trust 2,176 19,264 21,440 2 21,438 21,440 21,440
Employee Termination Benefits Trust Fund 1,735 225 1,960 2 1,958 1,960 1,960
Total—Other entities 824,460 261,335 28,984 1,114,779 157,684 901,214 1,058,898 55,881 55,881 1,114,779
Conversion to the Government accounting basis for consolidation purposes (negative 402) (negative 428) (negative 830) (negative 879,979) (negative 879,979) 879,149 879,149 (negative 830)
Net other entities on the Government accounting basis 824,058 260,907 28,984 1,113,949 157,684 21,235 178,919 935,030 935,030 1,113,949
Total 5,676,098 518,769 9,922,652 16,117,519 452,000 13,911,355 291,441 14,654,796 1,462,723 1,462,723 16,117,519
Table summary

The table presents, in thousands of dollars, the revenues, expenses and other changes in equity of consolidated Crown corporations and other entities for the current year which ended on March 31. It consists of nine columns: a list of consolidated Crown corporations and other entities; Revenues, divided into three columns—Third parties, Government, Crown corporations and other entities, sub-divided into two columns—Financial assistance, and Other, Total; Expenses, divided into three columns—Third parties, Government, Crown corporations and other entities, and Total; Net income (loss); Equity beginning of year; Equity adjustments and other; Remeasurement gains (losses); Equity transactions with the Government, divided into two columns—Dividends, and Capital; Equity end of year. The first series of rows presents Crown corporations, conversion adjustments to the Government accounting basis for consolidation purposes, and consolidation adjustments. The second series of rows presents other entities, conversion adjustments to the Government accounting basis for consolidation purposes, and consolidation adjustments. A final row presents the total for this table.

Table 4.2
Revenues, expenses and other changes in equity of consolidated Crown corporations and other entities for the year ended March 31, 2016

(in thousands of dollars)

Consolidated Crown corporations and other entities Revenues Expenses Net income (loss) Equity beginning of year Equity adjustments and other Remeasurement gains (losses) Equity transactions with the Government Equity end of year
Third parties Government, Crown corporations and other entities Total Third parties Government, Crown corporations and other entities Total Dividends Capital
Financial assistance Other
Crown corporations
Atomic Energy of Canada Limited 122,255 391,579 100,303 614,137 1,042,091 34,140 1,076,231 (negative 462,094) (negative 6,305,399) (negative 1,002,651) (negative 34,610) (negative 7,804,754)
Canada Council for the Arts 23,095 182,224 766 206,085 194,175 80 194,255 11,830 291,720 (negative 22,805) 280,745
Canada Development Investment Corporation PPP Canada Inc 43 24,322 925 25,290 24,960 726 25,686 (negative 396) 5,685 5,289
Canadian Air Transport Security Authority 4,664 653,605 77 658,346 601,945 13,916 615,861 42,485 393,738 436,223
Canadian Broadcasting Corporation 535,148 1,038,024 1,475 1,574,647 1,290,443 1,550 1,291,993 282,654 1,232,798 1,515,452
Canadian Commercial Corporation 2,871,730 8,880 3,497 2,884,107 2,871,784 4,355 2,876,139 7,968 20,701 28,669
Canadian Dairy Commission 208,577 3,723 212,300 207,975 1,250 209,225 3,075 (negative 3,075)
Canadian Museum for Human Rights 11,517 27,023 38,540 43,800 1,721 45,521 (negative 6,981) 7,470 (negative 9) 480
Canadian Museum of History 18,262 76,313 727 95,302 77,919 14,633 92,552 2,750 64,154 2,332 (negative 576) 68,660
Canadian Museum of Immigration at Pier 21 2,439 9,819 95 12,353 10,172 2,651 12,823 (negative 470) 3,291 (negative 161) (negative 184) 2,476
Canadian Museum of Nature 8,782 30,971 176 39,929 36,055 2,971 39,026 903 (negative 8,792) (negative 7,889)
Canadian Race Relations Foundation 513 882 1,395 604 829 1,433 (negative 38) 28,354 (negative 252) (negative 1) 28,063
Canadian Tourism Commission 14,785 57,976 38 72,799 69,020 1,237 70,257 2,542 17,128 97 19,767
Defence Construction (1951) Limited 788 87,183 87,971 92,312 16 92,328 (negative 4,357) 30,990 33 26,666
Federal Bridge Corporation Limited, The 40,165 10,000 50,165 44,650 44,650 5,515 233,319 1,129 (negative 1,160) 238,803
International Development Research Centre 60,320 183,478 19,301 263,099 262,148 3,637 265,785 (negative 2,686) 20,525 17,839
Jacques Cartier and Champlain Bridges Inc. 1,607 245,347 246,954 230,949 230,949 16,005 445,414 461,419
Marine Atlantic Inc. 109,461 350,999 460,460 237,479 237,479 222,981 261,046 (negative 3,731) 3,593 483,889
National Arts Centre Corporation 31,365 41,237 1,236 73,838 71,294 1,769 73,063 775 (negative 2,101) (negative 1,326)
National Capital Commission 28,302 90,377 4,898 123,577 113,743 7,507 121,250 2,327 645,779 648,106
National Gallery of Canada 59,633 49,200 244 109,077 100,146 7,884 108,030 1,047 8,101 46 9,194
National Museum of Science and Technology 4,920 30,839 693 36,452 31,979 4,115 36,094 358 12,915 13,273
Standards Council of Canada 8,574 10,195 945 19,714 20,131 507 20,638 (negative 924) 6,263 5,339
Telefilm Canada 25,745 95,454 121,199 118,098 2,166 120,264 935 25,173 26,108
VIA Rail Canada Inc. 300,877 354,567 2,638 658,082 578,577 8,783 587,360 70,722 225,247 295,969
Windsor-Detroit Bridge Authority 237 133,500 1,881 135,618 26,243 26,243 109,375 4,930 4,237 (negative 221) 118,321
Total—Crown corporations 4,493,804 4,099,652 227,980 8,821,436 8,398,692 116,443 8,515,135 306,301 (negative 2,331,551) (negative 1,002,126) (negative 21,233) (negative 34,610) (negative 3,083,219)
Conversion to the Government accounting basis for consolidation purposes 49,212 157,943 207,155 78,515 (negative 5,151) 73,364 133,791 3,421,803 (negative 525) 21,233 34,610 3,610,912
Total on the Government accounting basis 4,543,016 4,257,595 227,980 9,028,591 8,477,207 111,292 8,588,499 440,092 1,090,252 (negative 1,002,651) 527,693
Consolidation adjustments 730 (negative 4,257,595) (negative 227,980) (negative 4,484,845) (negative 119,644) (negative 111,292) (negative 230,936) (negative 4,253,909) 4,253,909
Net amount—Crown corporations 4,543,746 4,543,746 8,357,563 8,357,563 (negative 3,813,817) 1,090,252 3,251,258 527,693
Other entities
Canada Foundation for Innovation 6,632 330,453 3,658 340,743 340,694 49 340,743
Canada Foundation for Sustainable Development Technology 736 133,541 134,277 134,277 134,277
First Nations Market Housing Fund 10,447 982 11,429 10,447 982 11,429
St. Lawrence Seaway Management Corporation 70,166 1,649 130,640 202,455 179,191 206 179,397 23,058 32,823 55,881
Capital Fund Trust 22 126,000 6,595 132,617 2 132,615 132,617
Employee Termination Benefits Trust Fund 19 19 3 16 19
Total—Other entities 88,022 591,643 141,875 821,540 664,614 133,868 798,482 23,058 32,823 55,881
Conversion to the Government accounting basis for consolidation purposes 9,362 (negative 281,174) (negative 410) (negative 272,222) 1,982 (negative 1,982) (negative 272,222) 1,151,371 879,149
Total on the Government accounting basis 97,384 310,469 141,465 549,318 666,596 131,886 798,482 (negative 249,164) 1,184,194 935,030
Consolidation adjustments 4,212 (negative 310,469) (negative 141,465) (negative 447,722) (negative 5,367) (negative 131,886) (negative 137,253) (negative 310,469) 310,469
Net amount—Other entities 101,596 101,596 661,229 661,229 (negative 559,633) 1,184,194 310,469 935,030
Total 4,645,342 4,645,342 9,018,792 9,018,792 (negative 4,373,450) 2,274,446 3,561,727 1,462,723

Borrowings by consolidated agent Crown corporations

Table 4.3 summarizes the borrowing transactions by consolidated agent Crown corporations made on behalf of Her Majesty. This information is published to satisfy section 49 of the Financial Administration Act (FAA) which requires that an annual statement be included in the Public Accounts of Canada. The borrowings are from lenders other than the Government. In accordance with section 54 of the FAA, the payment of all money borrowed by agent Crown corporations and interest thereon is a charge on and payable out of the Consolidated Revenue Fund. Such borrowings are consolidated in the summary consolidated financial statements of the Government of Canada.

Table summary

The table presents, in thousands of dollars, the borrowings by consolidated agent Crown corporations. It consists of five columns: a list of consolidated agent Crown corporations; Balance April 1, 2015; Borrowings and other credits; Repayments and other charges; Balance March 31, 2016. A final row presents the total for this table.

Table 4.3
Borrowings by consolidated agent Crown corporations

(in thousands of dollars)

  Balance April 1, 2015 Borrowings and other credits Repayments and other charges Balance March 31, 2016
Canadian Broadcasting Corporation 381,732 20,305 361,427
Canadian Dairy Commission 828 32,030 30,597 2,261
Federal Bridge Corporation Limited, The 92,930 4,618 88,312
Total 475,490 32,030 55,520 452,000

Contingent liabilities of consolidated Crown corporations and other entities

Table 4.4 summarizes the contingent liabilities of the consolidated Crown corporations and other entities. A contingent liability is defined as a potential liability which may become an actual liability when one or more future events occur or fail to occur.

Table summary

The table presents, in thousands of dollars, the contingent liabilities of consolidated Crown corporations and other entities. It consists of two columns: a list of consolidated Crown corporations and other entities; March 31, 2016. The first series of rows presents agent Crown corporations. The second series of rows presents non-agent Crown corporations. A final row presents the total for this table.

Table 4.4
Contingent liabilities of consolidated Crown corporations and other entities

(in thousands of dollars)

  March 31, 2016
Agent Crown corporations
Federal Bridge Corporation Limited, The—Claims and pending and threatened litigation 50
National Gallery of Canada—Claims and pending and threatened litigation 348
Non-agent Crown corporations
St. Lawrence Seaway Management Corporation—Claims and pending and threatened litigation 4,106
St. Lawrence Seaway Management Corporation—Letters of credit 295
VIA Rail Canada Inc.—Letters of credit 27,207
Total 32,006

Financial assistance under budgetary appropriations to consolidated Crown corporations

Table 4.5 summarizes financial assistance under budgetary appropriations for both consolidated agent and non-agent Crown corporations. It should be read in conjunction with Table 4.2. The purpose for which payments have been made under budgetary appropriations is segregated between: (a) amounts approved through a program expenditures vote; (b) amounts approved through an operating expenditures vote; (c) amounts approved through a capital expenditures vote.

All amounts reported represent charges to appropriations or authorities approved by Parliament.

Differences in figures reported in Table 4.2 and those reported in Table 4.5 result from the use of different accounting policies and from items in transit.

Table summary

The table presents, in thousands of dollars, the financial assistance under budgetary appropriations to consolidated Crown corporations for the current year ended March 31. It consists of five columns: a list of consolidated Crown corporations; Program expenditures vote; Operating expenditures vote; Capital expenditures vote; and Financial assistance under budgetary appropriations. The first series of rows presents the agent Crown corporations. The second series of rows presents the non-agent Crown corporations. A final row presents the total for this table.

Table 4.5
Financial assistance under budgetary appropriations to consolidated Crown corporations for the year ended March 31, 2016

(in thousands of dollars)

  Program expenditures vote Operating expenditures vote Capital expenditures vote Financial assistance under budgetary appropriations Link to footnote 3
Agent Crown corporations
Atomic Energy of Canada LimitedLink to footnote 4 491,064 491,064
Canadian Air Transport Security Authority 656,747 656,747
Canadian Broadcasting Corporation 928,332 109,692 1,038,024
Canadian Commercial Corporation 8,880 8,880
Canadian Dairy Commission 3,723 3,723
Canadian Museum for Human Rights 21,700 21,700
Canadian Museum of History 83,587 83,587
Canadian Museum of Immigration at Pier 21 7,700 7,700
Canadian Museum of Nature 26,453 26,453
Canadian Tourism Commission 62,976 62,976
Federal Bridge Corporation Limited, The 20,119 20,119
Jacques Cartier and Champlain Bridges Inc. 247,328 247,328
National Capital Commission 68,344 22,665 91,009
National Gallery of Canada 37,777 8,000 45,777
National Museum of Science and Technology 59,601 59,601
Telefilm Canada 95,454 95,454
Total—Agent Crown corporations 1,785,332 1,034,453 140,357 2,960,142
Non-agent Crown corporations
Canada Council for the Arts 182,224 182,224
International Development Research Centre 183,478 183,478
Marine Atlantic Inc. 350,859 350,859
National Arts Centre Corporation 54,897 54,897
PPP Canada Inc 11,800 11,800
Standards Council of Canada 10,195 10,195
VIA Rail Canada Inc. 365,500 365,500
Windsor-Detroit Bridge Authority 138,500 138,500
Total—Non-agent Crown corporations 1,297,453 1,297,453
Total 3,082,785 1,034,453 140,357 4,257,595

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