Unmatured debt

Public Accounts of Canada 2016 Volume I—Top of the page Navigation

Unmatured debt represents financial obligations resulting from certificates of indebtedness issued by the Government of Canada that have not yet become due, cross-currency swap revaluation and unamortized discounts and premiums on market debt, obligations related to capital leases and other unmatured debt.

The Government's holdings of its own securities have been deducted from unmatured debt, to report the amount of the Government's liabilities to outside parties.

Marketable bonds

Marketable bonds are interest-bearing certificates of indebtedness issued by the Government of Canada, and have the following characteristics:

Registered marketable bonds are transferable by endorsement and delivery by one holder to another. Bearer marketable bonds need not be endorsed.

Table 6.2 presents a summary of the balances and transactions for marketable bonds.

The year-end balances of marketable bonds payable in foreign currencies were translated into Canadian dollars using the closing rates of exchange at March 31, 2016.

Table summary

The table presents, in dollars, a summary of the marketable bonds. It consists of five columns: a listing of matured and maturing bonds payable in Canadian and foreign currency; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. The first series of rows presents matured and maturing marketable bonds payable in Canadian currency minus consolidation adjustments, followed by the total for the series. The second series of rows presents matured and maturing marketable bonds payable in foreign currency minus Government's holdings and securities held for the retirement of unmatured debt, followed by the total for the series. A final row presents the total for this table.

Table 6.2
Marketable bonds
(in dollars)

  April 1, 2015 Receipts and other creditsLink to footnote 1 Payments and other chargesLink to footnote 1 March 31, 2016
Payable in Canadian currency
Matured 2015–2016 56,408,734,000 56,408,734,000
Maturing
2016–2017 95,367,400,000 18,176,317,000 77,191,083,000
2017–2018 53,742,526,000 39,100,000,000 1,493,341,000 91,349,185,000
2018–2019 31,022,764,000 11,100,000,000 42,122,764,000
2019–2020 38,050,000,000 38,050,000,000
2020–2021 13,667,361,000 26,800,000,000 40,467,361,000
2021–2022 19,529,436,999 154,732,501 19,684,169,500
2022–2023 12,906,022,000 12,906,022,000
2023–2024 16,558,552,000 16,558,552,000
2024–2025 13,800,000,000 13,800,000,000
2025–2026 12,903,156,000 2,500,000,000 15,403,156,000
2026–2027 7,430,744,999 7,648,470,001 15,079,215,000
2027–2028 4,430,175,000 394,200,000 4,035,975,000
2029–2030 11,141,658,000 191,725,000 10,949,933,000
2031–2032 7,889,681,999 157,644,001 8,047,326,000
2033–2034 12,795,905,000 12,795,905,000
2036–2037 7,060,716,002 141,043,498 7,201,759,500
2037–2038 13,587,073,000 70,116,000 13,516,957,000
2041–2042 23,013,804,000 146,261,500 23,160,065,500
2044–2045 8,279,964,001 165,395,999 8,445,360,000
2045–2046 16,400,000,000 16,400,000,000
2047–2048 3,327,192,000 2,328,953,000 5,656,145,000
2048–2049 4,600,000,000 3,200,000,000 7,800,000,000
2064–2065 3,500,000,000 3,500,000,000
Subtotal 487,412,866,000 93,442,500,500 76,734,433,000 504,120,933,500
Less:
Government holdings of unmatured debt (negative 500,000,000) 500,000,000
Consolidation adjustmentLink to footnote 2 (negative 468,519,000) (negative 32,030,000) (negative 53,768,000) (negative 446,781,000)
Subtotal (negative 468,519,000) (negative 32,030,000) (negative 553,768,000) 53,219,000
Total marketable bonds payable in Canadian currency 487,881,385,000 93,474,530,500 77,288,201,000 504,067,714,500
Payable in foreign currencies
Maturing
2016–2017 3,841,906,850 97,367,132 3,939,273,982
2017–2018 4,433,100,000 112,350,000 4,545,450,000
2018–2019 3,820,166,928 96,816,168 3,916,983,096
2019–2020 2,727,433,100 232,512,350 2,959,945,450
Subtotal 14,822,606,878 539,045,650 15,361,652,528
Less: Government's holdings and securities held for the retirement of unmatured debtLink to footnote 3 68,250,752 15,226,504 3,078,215 56,102,463
Total marketable bonds payable in foreign currencies 14,754,356,126 554,272,154 3,078,215 15,305,550,065
Total 502,635,741,126 94,028,802,654 77,291,279,215 519,373,264,565

Treasury bills

Treasury bills are short-term certificates of indebtedness issued by the Government of Canada to pay sums of money on given dates, and have the following characteristics:

The balance at March 31, 2016 consists of $41,000 million in three-month bills; $29,700 million in six-month bills; $65,200 million in 364–day bills; and $2,200 million in odd-issue bills.

Table 6.3 presents a summary of Treasury bill issues and redemptions.

Table summary

The table presents, in dollars, a summary of the Treasury bills. It consists of five columns: a listing of types of bills; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. The rows present the types of bills, minus Government's holdings and consolidation adjustments. A final row presents the total for this table.

Table 6.3
Treasury bills
(in dollars)

  April 1, 2015 Receipts and other credits Payments and other charges March 31, 2016
Three-month bills 41,300,000,000 169,600,000,000 169,900,000,000 41,000,000,000
Six-month bills 28,300,000,000 65,200,000,000 63,800,000,000 29,700,000,000
Other bills 66,100,000,000 122,700,000,000 121,400,000,000 67,400,000,000
Subtotal 135,700,000,000 357,500,000,000 355,100,000,000 138,100,000,000
Less: Consolidation adjustmentLink to footnote 4 8,310,000 8,310,000
Total 135,691,690,000 357,500,000,000 355,091,690,000 138,100,000,000

Retail debt

Retail debt includes Canada savings bonds and Canada premium bonds which are interest-bearing certificates of indebtedness issued by the Government of Canada, and have the following characteristics:

Table 6.4 presents a summary of the balances and transactions for Canada savings bonds and Canada premium bonds.

Table summary

The table presents, in dollars, a summary of the retail debt. It consists of five columns: a listing of matured and maturing bonds; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. The first series of rows presents matured and maturing Canada Saving Bonds, followed by the total for this series. The second series of rows presents matured and maturing Canada Premium Bonds, followed by the total for this series. A final row presents the total for this table.

Table 6.4
Retail debt
(in dollars)

  April 1, 2015 Receipts and other credits Payments and other charges March 31, 2016
Canada savings bonds (CSB)
Matured 2015–2016Link to footnote 5 589,068,860 589,068,860
Maturing
2016–2017Link to footnote 6 876,224,920 261,016,646 615,208,274
2017–2018Link to footnote 7 1,020,548,479 805,243,944 813,034,433 1,012,757,990
2018–2019Link to footnote 8 559,157,118 953,038,146 251,119,968 1,261,075,296
2019–2020Link to footnote 9 261,858,705 37,489,075 224,369,630
2020–2021Link to footnote 10 272,056,204 43,620,708 228,435,496
2021–2022 331,015,491 61,130,441 269,885,050
Subtotal 3,909,929,777 1,758,282,090 2,056,480,131 3,611,731,736
Canada premium bonds (CPB)
Matured 2015–2016 312,921,110 312,921,110
Maturing
2016–2017 264,224,401 15,428,333 248,796,068
2017–2018 203,197,228 2,100 12,381,098 190,818,230
2018–2019Link to footnote 8 433,085,017 117,770,331 18,919,518 531,935,830
2019–2020Link to footnote 9 243,347,237 22,475,314 220,871,923
2020–2021Link to footnote 10 149,755,468 10,236,568 139,518,900
2021–2022 143,274,535 10,894,076 132,380,459
Subtotal 1,749,804,996 117,772,431 403,256,017 1,464,321,410
Total 5,659,734,773 1,876,054,521 2,459,736,148 5,076,053,146

Canada bills

Canada bills are short-term certificates of indebtedness issued by the Government of Canada in the United States money market under the Government's foreign currency borrowing program. Canada bills provide Canada with an additional source of short-term US funds and have the following characteristics:

The year-end balance of Canada bills payable in US dollars was translated into Canadian dollars using the closing rate of exchange at March 31, 2016.

Table 6.5 presents a summary of Canada bill issues and redemptions.

Table summary

The table presents, in dollars, a summary of the Canada bills. It consists of five columns: a listing of relevant transactions; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. A final row presents the total for this table.

Table 6.5
Canada bills
(in dollars)

  April 1, 2015 Receipts and other credits Payments and other charges March 31, 2016
Canada bills before revaluation 3,472,009,534 25,557,491,161 24,354,304,351 4,675,196,344
Exchange valuation adjustment 316,556,991 244,350,290 72,206,701
Total 3,788,566,525 25,557,491,161 24,598,654,641 4,747,403,045

Medium-term notes

Medium-term notes are issued by the Government of Canada in the foreign markets under the Government's foreign currency borrowing program, and thus provide Canada with an additional source of medium-term foreign funds.

The year-end balances of medium-term notes payable in US dollars and Euros were translated into Canadian dollars using the closing rate of exchange of the appropriate currency at March 31, 2016.

Table 6.6 presents a summary of the balances and transactions for the medium-term notes.

Table summary

The table presents, in dollars, a summary of the medium-term notes. It consists of five columns: a listing of maturing medium-term notes payable in foreign currencies; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. A final row presents the total for this table.

Table 6.6
Medium-term notes
(in dollars)

  April 1, 2015 Receipts and other credits Payments and other charges March 31, 2016
Payable in foreign currencies
Maturing
2016–2017 506,640,000 12,840,000 519,480,000
2018–2019 324,675,000 324,675,000
2019–2020 284,985,000 266,962,500 551,947,500
2020–2021 932,520,000 35,887,500 968,407,500
2021–2022 64,935,000 64,935,000
Total 1,724,145,000 705,300,000 2,429,445,000

Unamortized discounts and premiums on market debt

The unamortized discounts and premiums on market debt have the following characteristics:

Table 6.7 presents a summary of the balances and transactions for the unamortized discounts and premiums on market debt.

Table summary

The table presents, in dollars, a summary of the unamortized discounts and premiums on market debt. It consists of five columns: a listing of the affected markets; the opening balance for the accounts as at April 1 of the current year; Receipts and other credits; Payments and other charges; the closing balance for the accounts as at March 31 of the current year. A final row presents the total for this table.

Table 6.7
Unamortized discounts and premiums on market debt
(in dollars)

  April 1, 2015 Receipts and other credits Payments and other charges March 1, 2016
Unamortized discounts on Canada bills (negative 655,885) 9,825,138 12,407,856 (negative 3,238,603)
Unamortized discounts on Treasury bills (negative 330,974,318) 861,165,644 736,356,615 (negative 206,165,289)
Unamortized discounts and premiums on marketable bonds 4,627,225,513 1,360,046,229 731,038,717 5,256,233,025
Total 4,295,595,310 2,231,037,011 1,479,803,188 5,046,829,133

Cross-currency swap revaluation

This represents the unrealized gains or losses due to fluctuations in the foreign exchange value of the cross-currency swaps.

Interest rates

Table 6.8 sets out market debt as at March 31, for each of the years 2011–2012 to 2015–2016 inclusively, with the average rate of interest thereon. For purposes of comparison, market debt is classified as Marketable bonds, Treasury bills, Retail debt, Bonds for Canada Pension Plan, Canada bills and Medium-term notes.

Table summary

The table presents, in millions of dollars, the interest on market debt as at March 31 for the current year and the previous four years, with the average rate of interest thereon. It consists of eight columns: a fiscal year listing in reverse chronological order; Marketable bonds; Treasury bills; Retail debt; Bonds for Canada Pension Plan; Canada bills; Medium-term notes; Total market debt. Each column is divided into the same two columns—Amount outstanding; Average interest rate %.

Table 6.8
Market debt as at March 31, from 2012 to 2016, with the average rate of interest thereon
(in millions of dollars)

  Marketable bonds Treasury bills Retail debt Bonds for Canada Pension Plan Canada bills Medium-term notes Total market debt
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
Amount outstanding Average interest rate
(%)
2016 519,373 2.47 138,100 0.50 5,076 0.67 4,748 0.43 2,429 0.67 669,726 2.03
2015 502,635 2.70 135,692 0.81 5,660 0.71 3,789 0.08 1,724 0.35 649,500 2.27
2014 486,313 2.85 152,990 0.96 6,327 0.72 2,290 0.08 746 0.46 648,666 2.37
2013 477,738 3.03 180,689 1.03 7,481 0.76 2,103 0.13 668,011 2.45
2012 456,784 3.30 163,221 0.99 8,922 0.81 11 9.37 2,071 0.07 631,009 2.65

Table 6.9 shows the average high and low yields of Treasury bills, at tender, together with the average yield on the latest issues for the years 2011–2012 to 2015–2016 inclusively.

Table summary

The table presents, in percentage, the Treasury bills average yields at tender. It consists of four columns: year ended March 31; High; Low; Last issue. There are four series of rows: Three-month bills; Six-month bills; 364 days bills; Other bills. Each series contains a listing of fiscal years in a reverse chronological order.

Table 6.9
Treasury bills average yields at tender
(in percentage)

Year ended March 31 High Low Last issue
Three-month bills
2016 0.67 0.37 0.46
2015 0.95 0.47 0.53
2014 1.02 0.83 0.88
2013 1.04 0.89 0.98
2012 0.98 0.82 0.93
Six-month bills
2016 0.69 0.37 0.51
2015 0.98 0.45 0.54
2014 1.06 0.87 0.91
2013 1.12 0.94 1.01
2012 1.14 0.88 1.02
364 days bills
2016 0.72 0.38 0.54
2015 1.02 0.43 0.53
2014 1.13 0.94 0.96
2013 1.26 0.96 1.04
2012 1.47 0.85 1.10
Other bills
2016 0.67 0.45 0.53
2015 0.98 0.68 0.71
2014 1.04 0.77 0.81
2013 1.07 0.93 0.98
2012 1.00 0.82 0.97

Maturity of Government debt

Table 6.10 presents total market debt arranged in order of maturity.

Table summary

The table presents, in millions of dollars, the maturity of Government debt. It consists of seven columns: a fiscal year listing in chronological order of maturity; Marketable bonds; Treasury bills; Retail debt; Canada bills; Medium-term notes; Total market debt. The last six columns are divided into two columns, respectively—Amount; Average interest rate %.

Table 6.10
Maturity of Government debt
(in millions of dollars)

  Marketable bonds Treasury bills Retail debt Canada bills Medium-term notes Total market debt
Amount Average interest rate
(%)
Amount Average interest rate
(%)
Amount Average interest rate
(%)
Amount Average interest rate
(%)
Amount Average interest rate
(%)
Amount Average interest rate
(%)
2017 81,130 1.68 138,100 0.50 864 0.68 4,748 0.43 519 0.54 225,361 3.82
2018 95,895 1.29 1,204 0.63 97,099 1.93
2019 46,040 1.85 1,793 0.67 325 0.53 48,158 2.98
2020 41,010 2.68 445 0.61 552 0.26 42,007 4.57
2021 40,467 1.78 368 0.84 968 0.44 41,803 5.10
2022–2026 78,352 3.00 402 0.73 65 0.63 78,819 4.36
2027–2031 30,065 4.61 30,065 4.61
2032–2036 20,843 5.07 20,843 5.07
2037–2041 20,719 4.30 20,719 4.30
2042–2046 48,005 3.08 48,005 3.08
2047–2051 13,456 2.12 13,456 2.12
2062–2066 3,500 2.75 3,500 2.75
Subtotal 519,482 2.47 138,100 0.50 5,076 0.67 4,748 0.43 2,429 0.67 669,835 2.03
Less: Government's holdings and consolidation adjustmentLink to footnote 11 109 109
Total 519,373 2.47 138,100 0.50 5,076 0.67 4,748 0.43 2,429 0.67 669,726 2.03

Statement of all borrowing transactions on behalf of Her Majesty

Table 6.11 presents information on the Government's borrowing transactions. Included in this table are borrowings by the Government for general purposes and borrowings by agent enterprise Crown corporations. Borrowings by non-agent enterprise Crown corporations and other government business enterprises are not included because such borrowings are not on behalf of Her Majesty.

Table summary

The table provides, in millions of dollars, information on the Government's borrowing transactions. It consists of five columns: a listing of borrowing transactions; the opening balance for the accounts as at April 1 of the current year; Issues/Borrowings; Retirements; the closing balance for the accounts as at March 31 of the current year. The first series of rows presents the transactions, followed by a total. The following row presents the borrowings of enterprise Crown corporations. A final row presents the total for this table.

Table 6.11
Statement of all borrowing transactions on behalf of Her Majesty
(in millions of dollars)

  April 1, 2015 Issues/Borrowings Retirements March 31, 2016
Market debt of the Government of CanadaLink to footnote 12 649,500 479,667 459,441 669,726
Cross-currency swap revaluation 6,669 (negative 1,722) 8,391
Unamortized discounts and premiums on market debtLink to footnote 12 4,296 2,231 1,480 5,047
Obligation related to capital leasesLink to footnote 12 3,710 60 293 3,477
Other unmatured debt 1,005 574 9 1,570
Subtotal 665,180 482,532 459,501 688,211
Borrowings of enterprise Crown corporations designated as agents of Her Majesty 253,049 87,353 73,968 266,434
Total 918,229 569,885 533,469 954,645

Obligation related to capital leases

A capital lease is a lease that transfers substantially all the benefits and risks inherent in ownership of the asset to the lessee. The net obligation related to capital leases represents the present values of the remaining minimum lease payments under the capital lease arrangements.

Table 6.12 presents the obligation related to capital lease agreements by asset type.

Table summary

The table presents, in dollars, the obligation related to capital lease agreements by asset type. It consists of four columns: a listing of asset types; the opening balance for the accounts as at April 1 of the current year; Net changes; the closing balance for the accounts as at March 31 of the current year. A final row presents the total for this table.

Table 6.12
Obligation related to capital leases
(in dollars)

  April 1, 2015 Net changes March 31, 2016
Land 5,532,757 (negative 885,438) 4,647,319
Buildings 2,748,639,673 (negative 132,373,082) 2,616,266,591
Works and infrastructure 530,077,828 (negative 21,041,230) 509,036,598
Machinery and equipment 145,481,248 (negative 23,740,448) 121,740,800
Vehicles 279,846,080 (negative 54,655,733) 225,190,347
Total 3,709,577,586 (negative 232,695,931) 3,476,881,655

Capital leases

Table 6.13 provides details of obligation under capital lease arrangements.

Table summary

The table presents, in thousands of dollars, details of obligations related to capital leases. It consists of five columns: a detailed listing of obligations by department; Inception date; Lease term in years; Discount rate %; Balances at March 31 of the current year, divided into three columns—Total estimated remaining minimum lease payments, Less: imputed interest using the discount rate, and Net obligations under capital lease arrangements. The first series of rows presents the departments and relevant obligations, followed by a total after each department, and a total for the series. The second series of rows presents the consolidated Crown corporations and other entities and relevant obligations, followed by a total after each Crown corporation and other entities, and a total for the series. A final row presents the total for this table.

Table 6.13
Details of obligation related to capital leases
(in thousands of dollars)

  Inception date Lease term in years Discount rate
(%)Link to footnote 13
Balances at March 31, 2016
Total estimated remaining minimum lease payments Less: imputed interest using the discount rate Net obligations under capital lease arrangements
Environment and Climate Change
Environment
Carleton University, Ottawa—National Wildlife Research Centre May 2002 25 5.63 14,300 3,850 10,450
Parks Canada Agency
Greenwich Interpretation Multipurpose Centre March 2001 24 6.30 3,580 881 2,699
Rocky Mountains Co-operative Housing Association Nov 2001 18 6.30 530 59 471
Other capital leases less than $1,000,000 16 2 14
Subtotal 4,126 942 3,184
National Defence
Boilers (2) Stadacona/Dockyard Halifax Oct 2014 3 1.31 2,841 43 2,798
Edmonton Armoury—North Dec 2000 20 5.62 6,602 807 5,795
Edmonton Armoury—South May 2001 20 6.07 10,800 1,519 9,281
FELEX Facility—1250 Lockley Road Feb 2011 6 7.38 696 21 675
Longue Pointe Supply Depot Nov 1994 35 7.64 46,232 17,685 28,547
Milit-Air Capital Lease (NFTC) Oct 2003 17 5.87 32,395 4,284 28,111
Milit-Air Capital Lease (NFTC) Dec 1999 20 5.78 220,173 23,382 196,791
Montfort Hospital—Health Services Oct 2003 17 5.26 41,818 7,420 34,398
Shawinigan Armoury May 1999 20 5.46 1,739 143 1,596
Subtotal 363,296 55,304 307,992
Natural Resources
183 Longwood Drive, Hamilton Nov 2010 25 3.45 88,632 24,297 64,335
Public Safety and Emergency Preparedness
Royal Canadian Mounted Police
Firing range, Chilliwack Feb 2016 4 3.50 2,431 185 2,246
RCMP Detachment, Cornwall Aug 2009 25 5.54 21,106 7,893 13,213
Other capital leases less than $1,000,000 1,107 414 693
Subtotal 24,644 8,492 16,152
Public Services and Procurement
Public Works and Government Services
1 Arctic Road, Inuvik March 2008 10 10.73 343 36 307
110 O'Connor Street, Ottawa (Lease 1 of 6) April 2009 10 5.70 1,734 144 1,590
110 O'Connor Street, Ottawa (Lease 2 of 6) April 2009 10 5.43 1,701 135 1,566
110 O'Connor Street, Ottawa (Lease 3 of 6) Dec 2009 10 5.43 3,465 329 3,136
110 O'Connor Street, Ottawa (Lease 4 of 6) Dec 2009 10 5.43 2,569 244 2,325
110 O'Connor Street, Ottawa (Lease 5 of 6) Dec 2009 10 5.43 1,342 128 1,214
110 O'Connor Street, Ottawa (Lease 6 of 6) April 2010 10 4.37 759 59 700
1104 Ikaluktuutiak Drive, Iqaluit Nov 2011 10 2.60 3,581 251 3,330
111 Lombard Avenue, Winnipeg Nov 2014 20 2.69 21,494 4,593 16,901
1164 Devonshire Avenue, North Bay April 2011 10 3.67 975 85 890
117 Glencoe Drive, Mount Pearl Aug 2009 10 3.57 1,253 73 1,180
1200 Commissioners Road East, London Dec 2012 10 9.02 2,514 633 1,881
12511 Vulcan Way, Richmond July 2014 15 4.25 1,998 473 1,525
1300 Bath Road, Kingston Feb 2012 10 2.20 722 45 677
1363 4th Avenue, Prince George Dec 2010 10 6.84 816 119 697
139 Douglastown Boulevard, Miramichi Oct 2012 10 1.95 3,051 188 2,863
1431 Merivale Road, Ottawa Oct 2007 10 8.22 788 49 739
144 Millennium Drive, Quispamsis Nov 2011 15 8.74 1,355 473 882
1484 Centennial Drive, Kingston Oct 2006 10 18.24 230 10 220
1550 d'Estimauville Avenue, Quebec Nov 2011 20 8.24 68,000 29,778 38,222
159 Cleopatra Drive, Ottawa March 2011 10 1.33 2,758 90 2,668
1600 Star Top Road, Ottawa July 2004 15 7.15 9,942 1,095 8,847
165 Edgecomb Drive, Charlottetown Aug 2012 15 8.65 1,733 631 1,102
1725 Woodward Drive, Ottawa (Lease 1 of 2) Dec 2009 10 8.94 1,645 247 1,398
1725 Woodward Drive, Ottawa (Lease 2 of 2) Dec 2009 10 8.55 1,520 219 1,301
179 3rd Avenue, Timmins Feb 2010 10 8.69 2,932 446 2,486
180 Bass Pro Mills Drive, Vaughan Sept 2014 10 2.20 4,823 424 4,399
1801 Hollis and Duke, Halifax Oct 2009 10 3.89 1,741 117 1,624
181 Queen Street, Ottawa March 2004 20 10.65 29,668 9,808 19,860
1925 McCallum Road, Abbotsford Nov 2008 15 4.30 3,290 509 2,781
200 John Street West, Oshawa Nov 2009 10 7.16 996 120 876
2030 Pie IX Boulevard, Montreal May 2015 10 3.83 2,305 361 1,944
215-219 George Street, Peterborough April 2012 10 4.48 1,051 136 915
22 de Varennes Street, Gatineau Nov 2007 10 10.97 981 84 897
22 Eddy Street, Gatineau May 2013 25 7.89 263,640 139,727 123,913
220 Fortin Street, Quebec Dec 2007 10 15.65 393 49 344
2250 St-Olivier Street, Trois-Rivières Sept 2012 10 9.03 2,301 559 1,742
2455 Don Reid Drive, Ottawa Dec 2009 15 7.71 2,674 728 1,946
2575 Sainte-Anne Boulevard, Quebec April 2015 20 10.32 41,826 23,522 18,304
2655 Lancaster Road, Ottawa (Lease 1 of 2) Feb 2009 8 3.94 165 3 162
2655 Lancaster Road, Ottawa (Lease 2 of 2) July 2009 8 4.66 145 3 142
269 Laurier Avenue, Ottawa Sept 2005 15 4.18 25,802 2,279 23,523
275 De Baets Street, Winnipeg Feb 2007 10 17.42 233 18 215
295 Belliveau Avenue, Shediac Jan 2007 15 7.93 2,243 452 1,791
3 Lower Malpeque Road, Charlottetown June 2008 10 4.19 306 14 292
30 Victoria Street, Gatineau June 2013 25 7.89 264,615 140,543 124,072
301 Bishop Drive, Fredericton Feb 2014 15 5.30 2,322 640 1,682
3020 Hawthorne Road, Ottawa Dec 2012 15 2.27 6,636 811 5,825
3085 Glen Erin Drive, Mississauga (Lease 1 of 2) Aug 2010 7 7.28 380 19 361
3085 Glen Erin Drive, Mississauga (Lease 2 of 2) Nov 2010 10 5.74 1,320 162 1,158
325 Broadway Avenue, Winnipeg Jan 2008 10 10.37 2,435 217 2,218
3299 Industriel Boulevard, Sherbrooke Nov 2009 10 6.24 716 76 640
351 Saint-Joseph Boulevard, Gatineau (Lease 1 of 3) Aug 2011 25 5.28 73,234 28,383 44,851
351 Saint-Joseph Boulevard, Gatineau (Lease 2 of 3) Dec 2011 25 7.33 18,904 9,145 9,759
351 Saint-Joseph Boulevard, Gatineau (Lease 3 of 3) Aug 2014 12 2.45 10,259 1,210 9,049
360 George Street North, Peterborough April 2012 10 8.70 1,360 303 1,057
3600 Lysander Lane, Richmond March 2010 10 0.43 1,564 13 1,551
395 Terminal Avenue, Ottawa Jan 2013 15 2.67 52,341 7,463 44,878
4110 Wellington Street, Verdun June 2012 10 7.20 1,000 190 810
419 Kensington Avenue, Estevan Oct 2011 10 2.87 716 54 662
425 Bloor Street, Toronto June 2014 10 2.39 2,076 192 1,884
444 5th Street, Shawinigan Dec 2011 10 8.50 1,809 377 1,432
455 de la Carrière Boulevard, Gatineau Nov 2012 25 6.86 197,400 96,214 101,186
485 Bishop Drive, Fredericton Dec 2011 15 6.16 1,217 327 890
4901-05 46th Street, Red Deer Aug 2011 10 3.11 1,367 109 1,258
5019 52nd Street, Yellowknife Feb 2011 10 2.54 1,030 62 968
5151 De la Savane Street, Montreal June 2014 10 2.39 2,209 204 2,005
520 Exmouth Street, Sarnia Dec 2006 10 4.08 357 5 352
522 Main Street, Shediac April 2012 10 2.34 2,138 145 1,993
555 McAllister Drive, Saint John Nov 2007 10 8.16 1,010 66 944
559 College Street, Toronto July 2012 10 2.24 1,976 127 1,849
635 8th Avenue South West, Calgary July 2009 10 3.55 3,558 202 3,356
6500 Trans-Canada Highway, Pointe-Claire Sept 2012 10 1.95 798 48 750
6503 67th Street, Red Deer Sept 2009 10 4.81 448 36 412
667 Notre-Dame Street, Repentigny April 2013 10 2.01 1,030 70 960
8 Colonnade Road, Ottawa May 2007 10 5.91 315 11 304
8 Oakes Avenue, Kirkland Lake April 2012 10 6.93 5,166 949 4,217
8 Queen Street East, Sault Ste Marie June 2010 10 4.95 1,217 119 1,098
81 Kingmingya Road, Inuvik Jan 2011 10 7.35 726 115 611
81 Mulcaster Street, Barrie Sept 2012 15 12.99 6,360 3,053 3,307
825-827 Fort Street, Victoria Oct 2011 10 2.66 1,050 74 976
859 Main Street, Moncton July 2008 10 5.49 436 27 409
90 Elgin Street, Ottawa Nov 2014 25 7.23 460,744 239,934 220,810
933 Mivvik Street, Iqualuit (Lease 1 of 2) June 2013 10 2.19 3,720 280 3,440
933 Mivvik Street, Iqualuit (Lease 2 of 2) Sept 2013 10 2.72 2,654 253 2,401
985 McGill Place, Kamloops June 2002 15 13.50 358 28 330
98-100 Racine Street East, Saguenay June 2011 9 5.36 886 110 776
Admiral Building, Ottawa Aug 2009 15 11.51 1,484 546 938
Albion Executive Tower, Ottawa Dec 2009 10 6.80 1,178 138 1,040
Anderson Building, Selkirk Jan 2012 10 2.18 719 43 676
Barker House, Fredericton April 2010 10 2.82 1,468 81 1,387
Bell Canada Place, Ottawa May 2003 15 10.88 1,968 214 1,754
Broad Street Crossing, Regina (Lease 1 of 2) May 2008 10 4.88 454 23 431
Broad Street Crossing, Regina (Lease 2 of 2) May 2008 10 9.77 351 35 316
Canada Building, Ottawa April 2007 10 4.27 722 16 706
Canada Place Building, Edmonton Oct 2007 25 4.44 319,553 97,839 221,714
Canada Post Place, Ottawa Dec 2004 15 4.91 11,255 974 10,281
Cargill Building, Winnipeg July 2008 10 7.38 2,587 210 2,377
Carling Square, Tower I, Ottawa Oct 2007 10 11.76 1,245 109 1,136
Carling Square, Tower II, Ottawa Dec 2007 10 7.83 2,243 147 2,096
Centennial House, Winnipeg April 2008 10 4.69 1,062 50 1,012
Chahko Mika Mall, Nelson Nov 2011 10 7.89 1,588 307 1,281
Chebucto Place, Halifax May 2011 10 3.45 1,091 92 999
Chief Joseph Big Plume Building, Sarcee Jan 2011 10 5.93 2,145 279 1,866
City Place III, Kingston Jan 2016 10 1.68 2,289 180 2,109
City Place, Winnipeg (Lease 1 of 2) Nov 2008 10 9.16 785 88 697
City Place, Winnipeg (Lease 2 of 2) April 2009 10 7.04 1,667 168 1,499
Coast Guard Base, Mount Pearl Feb 2011 8 2.21 746 24 722
Colonnade Warehouse, Ottawa April 2007 10 7.80 206 8 198
Commodity Exchange & Winnipeg Square, Winnipeg (Lease 1 of 2) Jan 2009 9 9.61 1,367 113 1,254
Commodity Exchange & Winnipeg Square, Winnipeg (Lease 2 of 2) Jan 2009 9 9.74 975 82 893
Crowsnest Trail Plaza, Lethbridge July 2008 10 5.83 413 27 386
De La Cité Place, Gatineau Dec 2003 15 9.78 10,411 1,279 9,132
Des Explorateurs Place, Gatineau Oct 2008 10 4.68 799 46 753
Fontaine Building, Gatineau Jan 2008 15 5.82 22,363 3,909 18,454
Fraser Building, Ottawa Feb 2010 10 3.24 1,756 107 1,649
Frederick Square, Fredericton Dec 2011 10 2.31 749 48 701
Galeries Laurentides, Saint-Jérôme June 2007 10 15.13 287 25 262
Glencoe Building, Mount Pearl Dec 2007 10 10.74 655 58 597
Guy Favreau Complex, Montreal Jan 2004 15 5.84 48,742 5,826 42,916
Harry Hays Building, Calgary Oct 2007 25 4.44 316,390 96,888 219,502
Hérelle Place, Longueuil Sept 2012 10 8.98 975 236 739
Heritage Court, Moncton July 2013 15 5.48 5,626 1,535 4,091
I.C.A.O., Montreal Nov 1996 20 9.94 29,958 1,526 28,432
Joseph Shepard Building, Toronto Oct 2007 25 4.44 218,763 66,997 151,766
Judicial Complex, Toronto April 2006 20 11.40 62,532 26,117 36,415
Kamotiq Building, Nunavut April 2011 10 5.10 2,813 334 2,479
Kent Square Building, Ottawa Oct 2007 10 4.52 964 34 930
Laurier Place, Ottawa May 2009 10 5.51 1,388 114 1,274
Library Square (Block 56), Vancouver May 1995 25 9.68 27,223 4,809 22,414
Lionel Chevrier Building, Cornwall Dec 2004 15 6.07 2,901 306 2,595
Louis St-Laurent Building, Gatineau Nov 2001 15 6.38 17,087 342 16,745
Maritime Centre, Halifax (Lease 1 of 3) Oct 2006 10 10.41 103 3 100
Maritime Centre, Halifax (Lease 2 of 3) Jan 2010 15 6.26 14,155 3,315 10,840
Maritime Centre, Halifax (Lease 3 of 3) Jan 2010 15 5.78 1,468 322 1,146
Market Square, Kitchener July 2014 10 2.39 1,127 105 1,022
Megasys Phase II, Calgary Feb 2008 10 4.79 1,667 87 1,580
Mercury Centre, Ottawa Jan 2007 25 4.50 102,394 29,156 73,238
Mews Place, St. John's Oct 2011 10 2.37 1,997 128 1,869
Midwest Surveys Building, Calgary April 2007 10 17.88 668 60 608
Montcalm Place, Phase III, Gatineau Dec 2003 15 8.65 10,852 1,192 9,660
Montcalm Place, Tower II, Gatineau April 2012 15 2.64 19,822 2,635 17,187
Morgan Building, Clarenville May 2013 10 6.27 1,020 198 822
Narono Building, Ottawa Feb 2008 10 4.61 485 21 464
Nova Plaza, Yellowknife (Lease 1 of 2) April 2009 10 6.00 1,311 114 1,197
Nova Plaza, Yellowknife (Lease 2 of 2) April 2010 10 10.21 790 144 646
Parks Canada Building, Dartmouth July 2009 20 7.61 3,592 1,333 2,259
Queen Square, Dartmouth Sept 2011 10 3.18 7,225 597 6,628
RCMP Building, Montreal Oct 2007 25 4.44 54,986 16,888 38,098
Revenue Canada Building, Montreal Oct 2007 25 4.44 111,866 34,270 77,596
Roper Ridge Business Park, Edmonton Nov 2008 10 6.43 2,374 193 2,181
Rosdev de Ville, Gatineau June 2007 10 4.58 4,314 121 4,193
Royal Centre, New Westminster (Lease 1 of 2) Nov 2008 10 11.22 750 101 649
Royal Centre, New Westminster (Lease 2 of 2) March 2011 9 5.96 663 81 582
Samuel-Holland Complex, Quebec July 2011 10 3.13 784 62 722
Sixty Queen Building, Ottawa (Lease 1 of 2) July 2008 10 3.94 580 22 558
Sixty Queen Building, Ottawa (Lease 2 of 2) May 2009 9 0.32 1,662 5 1,657
Sixty-Six Slater Building, Ottawa (Lease 1 of 2) April 2009 10 4.95 1,836 133 1,703
Sixty-Six Slater Building, Ottawa (Lease 2 of 2) Sept 2010 10 5.53 921 106 815
Skyline Complex, Ottawa Oct 2007 25 4.44 247,489 75,889 171,600
Smith Building, St. John's July 2009 10 7.08 1,529 167 1,362
Stock Exchange Tower, Montreal April 2012 10 3.36 990 95 895
The Baker Center Building, Edmonton Dec 2007 10 4.45 305 12 293
The Inuksugait Plaza, Iqaluit Oct 2006 10 14.28 110 4 106
The New Two Seventy Building, Ottawa June 2007 10 4.58 1,367 38 1,329
Thomas D'Arcy McGee Building, Ottawa Oct 2007 25 4.44 192,979 59,066 133,913
Time Square Building, Ottawa Oct 2010 10 4.76 3,034 308 2,726
Trebla Building, Ottawa (Lease 1 of 2) April 2009 10 9.46 3,274 433 2,841
Trebla Building, Ottawa (Lease 2 of 2) April 2009 10 2.73 346 14 332
Trusco Building, Ottawa Sept 2006 20 4.28 72,359 14,060 58,299
VAC Records Management Centre, Charlottetown Nov 2007 15 13.43 2,171 735 1,436
Vanguard Building, Ottawa Nov 2007 10 4.80 754 29 725
Vault Building, Lethbridge April 2008 10 6.18 403 25 378
Waldron Building, Yellowknife Aug 2007 10 12.22 339 28 311
Woodward's Abbott Building, Vancouver Jan 2010 15 5.35 4,107 840 3,267
Other capital leases less than $1,000,000 49,250 9,825 39,425
Subtotal 3,725,821 1,317,141 2,408,680
Shared Services Canada
IBM—Consolidated Enterprise Servers Jan 2015 4 0.65 82,363 750 81,613
IBM—Power UNIX Server, Model 780 April 2014 2 1.25 151 Link to footnote 14 151
Supercomputer Meteorological Service of Canada Sept 2015 2 0.53 18,700 66 18,634
Subtotal 101,214 816 100,398
Transport
Confederation Bridge, Borden-Carleton May 1997 35 6.16 1,095,578 586,541 509,037
Other departments
Capital leases less than $1,000,000 711 39 672
Total 5,418,322 1,997,422 3,420,900
Consolidated Crown corporations and other entities
Canadian Broadcasting Corporation
7067 Chebucto Rd, Halifax June 2015 7 2.10 7,386 7,386
Telesat Feb 2001 17 6.80 22,055 1,384 20,671
Subtotal 29,441 1,384 28,057
Canadian Museum of Nature
Natural Heritage Building, Gatineau Sept 1996 35 9.88 54,250 26,614 27,636
Defence Construction (1951) Limited
Capital leases less than $1,000,000 305 16 289
Total 83,996 28,014 55,982
Total 5,502,318 2,025,436 3,476,882

Minimum lease payments related to capital leases

Table 6.14 presents upcoming minimum leases payments for the next five years by department.

Table summary

The table presents, in thousands of dollars, upcoming minimum lease payments for the next five years by ministry. It consists of two columns: a listing of lease payments by ministry; Payments due, divided into seven columns—the next five consecutives years, the sixth and subsequent years, and Total. The first series of rows presents, by ministry, the related remaining payments minus the imputed interest and the total for the ministry. The following row presents the total for all ministries. The second series of rows presents, by consolidated Crown corporation and other entity, the related remaining payments minus the imputed interest and the total for each organization. The following row presents the total for all consolidated Crown corporations and other entities. The third series of rows presents a summary of the overall remaining payments and the overall imputed interest. A final row presents the total net obligation for this table.

Table 6.14
Minimum lease payments related to capital leases
(in thousands of dollars)

  Payments due by March 31
2017 2018 2019 2020 2021 2022 and subsequently Total
Environment and Climate Change
Environment
Remaining payments 1,300 1,300 1,300 1,300 1,300 7,800 14,300
Imputed interest 588 548 506 461 414 1,333 3,850
Subtotal 712 752 794 839 886 6,467 10,450
Parks Canada Agency
Remaining payments 544 544 544 509 403 1,582 4,126
Imputed interest 189 166 141 115 93 238 942
Subtotal 355 378 403 394 310 1,344 3,184
National Defence
Remaining payments 83,636 83,959 81,886 49,837 14,249 49,729 363,296
Imputed interest 16,656 12,796 8,744 4,483 2,748 9,877 55,304
Subtotal 66,980 71,163 73,142 45,354 11,501 39,852 307,992
Natural Resources
Remaining payments 4,518 4,518 4,518 4,518 4,518 66,042 88,632
Imputed interest 2,183 2,101 2,016 1,929 1,838 14,230 24,297
Subtotal 2,335 2,417 2,502 2,589 2,680 51,812 64,335
Public Safety and Emergency Preparedness
Royal Canadian Mounted Police
Remaining payments 1,746 1,746 1,746 1,747 1,476 16,183 24,644
Imputed interest 830 788 744 698 651 4,781 8,492
Subtotal 916 958 1,002 1,049 825 11,402 16,152
Public Services and Procurement
Public Works and Government Services
Remaining payments 323,489 267,320 281,900 228,523 207,162 2,417,427 3,725,821
Imputed interest 132,159 121,462 112,407 104,035 97,513 749,565 1,317,141
Subtotal 191,330 145,858 169,493 124,488 109,649 1,667,862 2,408,680
Shared Services Canada
Remaining payments 44,194 36,343 20,677 101,214
Imputed interest 507 253 56 816
Subtotal 43,687 36,090 20,621 100,398
Transport
Remaining payments 63,588 61,061 61,984 62,920 63,871 782,154 1,095,578
Imputed interest 41,589 38,060 37,936 37,777 37,584 393,595 586,541
Subtotal 21,999 23,001 24,048 25,143 26,287 388,559 509,037
Other departments
Remaining payments 330 228 87 33 33 711
Imputed interest 17 10 6 3 3 39
Subtotal 313 218 81 30 30 672
Total 328,627 280,835 292,086 199,886 152,168 2,167,298 3,420,900
Consolidated Crown corporations and other entities
Canadian Broadcasting Corporation
Remaining payments 12,574 10,568 555 567 580 4,597 29,441
Imputed interest 1,098 286 1,384
Subtotal 11,476 10,282 555 567 580 4,597 28,057
Canadian Museum of Nature
Remaining payments 3,500 3,500 3,500 3,500 3,500 36,750 54,250
Imputed interest 2,709 2,627 2,536 2,436 2,325 13,981 26,614
Subtotal 791 873 964 1,064 1,175 22,769 27,636
Defence Construction (1951) Limited
Remaining payments 101 204 305
Imputed interest 8 8 16
Subtotal 93 196 289
Total 12,360 11,351 1,519 1,631 1,755 27,366 55,982
Total 340,987 292,186 293,605 201,517 153,923 2,194,664 3,476,882
Summary
Remaining payments 539,520 471,291 458,697 353,454 297,092 3,382,264 5,502,318
Imputed interest 198,533 179,105 165,092 151,937 143,169 1,187,600 2,025,436
Net obligation 340,987 292,186 293,605 201,517 153,923 2,194,664 3,476,882

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