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Non-financial assets are assets that have an economic life that extends beyond the accounting period and that are intended for consumption in the normal course of operations. They are converted into expense in future periods and include tangible capital assets, inventories, and prepaid expenses.
Tangible capital assets consist of acquired, built, developed or improved tangible assets, which are intended to be used on a continuous basis and are not intended for sale in the ordinary course of business. For financial reporting purposes, tangible capital assets are grouped in the following categories: land, buildings, works and infrastructure, machinery and equipment, vehicles, leasehold improvements, assets under construction, and assets under capital leases.
Inventories are items of tangible property that are to be used in the delivery of program outputs. Some revolving funds and a few departments may have inventories held for resale to parties outside the Government.
Prepaid expenses and other are disbursements made, pursuant to a contract, before the completion of the work, delivery of the goods or rendering of the service.
Table 10.1 presents the non-financial assets by category. The charts present non-financial assets by category and by fiscal year at March 31.
|March 31, 2017||March 31, 2016|
|Net tangible capital assets, Table 10.2|
|Works and infrastructure||7,499,890||6,433,048|
|Machinery and equipment||10,538,038||9,851,603|
|Vehicles, Table 10.3||16,031,885||16,367,357|
|Assets under construction||14,651,835||12,574,468|
|Assets under capital leases, Table 10.4||2,645,014||2,826,935|
|Prepaid expenses and other||6,039,763||4,705,789|
Non-financial assets by category at March 31, 2017
The Graph "Non-financial assets by category at March 31, 2017" illustrates the non-financial assets by category for the current year and the relative percentage to the total. The percentage by component is: Prepaid expenses and other 7.3%; Land 2.1%; Buildings 18.7%; Works and infrastructure 9.1%; Machinery and equipment 12.8%; Vehicles 19.4%; Leasehold improvements 1.4%; Assets under construction 17.7%; Assets under capital leases 3.2%; and Inventories 8.3%.
Non-financial assets at March 31, 2017
(in millions of dollars)
The Graph "Non-financial assets at March 31, 2017" illustrates, in millions of dollars, the non-financial assets for the current and nine previous years. In chronological order, the amounts are: $58,644 for 2008; $61,503 for 2009; $63,375 for 2010; $66,581 for 2011; $67,959 for 2012; $68,922 for 2013; $70,433 for 2014; $74,629 for 2015; $77,765 for 2016; and $82,557 for 2017.
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