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, 2017. 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, 2017, 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 4.1
Financial position of consolidated Crown corporations and other entities
Assets, liabilities and equity as at March 31, 2017

(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 162,209 107,039 801,038 1,070,286 7,746,000 306,500 8,052,500 (negative 7,141,582) 144,368 15,000 (negative 6,982,214) 1,070,286
Canada Council for the Arts 395,594 943 27,710 424,247 119,921 1,477 121,398 302,849 302,849 424,247
Canada Development Investment Corporation PPP Canada Inc 1,276,473 1,369 749 1,278,591 3,191 1,267,999 1,271,190 7,401 7,401 1,278,591
Canadian Air Transport Security Authority 124,399 92,426 428,084 644,909 153,634 2,812 156,446 488,463 488,463 644,909
Canadian Broadcasting Corporation 1,512,523 182 1,138,985 2,651,690 339,736 578,952 24 918,712 1,732,978 1,732,978 2,651,690
Canadian Commercial Corporation 815,719 1,251 4,847,638 5,664,608 5,635,503 191 5,635,694 18,914 10,000 28,914 5,664,608
Canadian Dairy Commission 8,369 165,994 174,363 2,242 79,747 92,374 174,363 174,363
Canadian Museum for Human Rights 10,315 165 315,582 326,062 171,480 145,731 317,211 8,851 8,851 326,062
Canadian Museum of History 71,975 11,705 248,745 332,425 33,407 231,538 264,945 67,480 67,480 332,425
Canadian Museum of Immigration at Pier 21 12,041 135 17,833 30,009 9,054 17,700 26,754 3,255 3,255 30,009
Canadian Museum of Nature 18,106 519 185,217 203,842 42,331 167,867 210,198 (negative 6,356) (negative 6,356) 203,842
Canadian Race Relations Foundation 27,439 2,460 53 29,952 217 217 29,735 29,735 29,952
Canadian Tourism Commission 44,992 1,200 4,973 51,165 12,479 10 12,489 38,676 38,676 51,165
Defence Construction (1951) Limited 29,652 18,596 4,624 52,872 39,749 525 40,274 12,598 12,598 52,872
International Development Research Centre 79,123 9,067 10,987 99,177 45,057 27,953 73,010 26,167 26,167 99,177
Marine Atlantic Inc. 144,722 18,000 428,830 591,552 107,490 2,792 110,282 481,270 481,270 591,552
National Arts Centre Corporation 63,014 2,086 120,539 185,639 30,339 157,215 187,554 (negative 1,915) (negative 1,915) 185,639
National Capital Commission 170,024 5,827 673,728 849,579 201,987 4,265 206,252 643,327 643,327 849,579
National Gallery of Canada 19,013 484 83,323 102,820 8,542 89,341 97,883 4,937 4,937 102,820
National Museum of Science and Technology 77,423 1,579 118,821 197,823 16,155 168,393 184,548 13,275 13,275 197,823
Standards Council of Canada 5,473 672 3,956 10,101 6,205 46 6,251 3,850 3,850 10,101
Telefilm Canada 7,110 61,727 6,937 75,774 49,026 163 49,189 26,585 26,585 75,774
The Federal Bridge Corporation Limited 37,431 11,866 385,035 434,332 80,037 32,598 83,156 195,791 238,541 238,541 434,332
The Jacques Cartier and Champlain Bridges Inc. 56,543 44,547 562,309 663,399 145,827 145,827 517,572 517,572 663,399
VIA Rail Canada Inc. 462,467 29,251 947,448 1,439,166 211,677 905,858 1,117,535 312,331 9,300 321,631 1,439,166
Windsor-Detroit Bridge Authority 285,674 6,259 189,475 481,408 64,715 64,715 416,693 416,693 481,408
Total—Crown corporations 5,917,823 429,355 11,718,613 18,065,791 422,015 15,545,283 3,673,930 19,641,228 (negative 1,754,105) 154,368 24,300 (negative 1,575,437) 18,065,791
Conversion to the Government accounting basis for consolidation purposes (negative 196,588) (negative 50,002) (negative 246,590) (negative 15,001) (negative 3,380,670) (negative 3,395,671) 3,327,749 (negative 154,368) (negative 24,300) 3,149,081 (negative 246,590)
Net Crown corporations on the Government accounting basis 5,721,235 429,355 11,668,611 17,819,201 422,015 15,530,282 293,260 16,245,557 1,573,644 1,573,644 17,819,201
Other entitiesLink to footnote 2
Canada Foundation for Innovation 303,926 114,597 3,647 422,170 889 421,281 422,170 422,170
Canada Foundation for Sustainable Development Technology 25,920 1,426 27,346 830 26,516 27,346 27,346
First Nations Market Housing Fund 311,865 40,299 190 352,354 49,592 302,762 352,354 352,354
St. Lawrence Seaway Management Corporation 147,735 24,013 23,869 195,617 108,430 10,862 119,292 76,325 76,325 195,617
Capital Fund Trust 2,210 15,660 17,870 2 17,868 17,870 17,870
Employee Termination Benefits Trust Fund 1,596 88 1,684 2 1,682 1,684 1,684
Total—Other entities 793,252 194,657 29,132 1,017,041 159,745 780,971 940,716 76,325 76,325 1,017,041
Conversion to the Government accounting basis for consolidation purposes (negative 1) (negative 325) (negative 326) (negative 1) (negative 763,086) (negative 763,087) 762,761 762,761 (negative 326)
Net other entities on the Government accounting basis 793,251 194,332 29,132 1,016,715 159,744 17,885 177,629 839,086 839,086 1,016,715
Total 6,514,486 623,687 11,697,743 18,835,916 422,015 15,690,026 311,145 16,423,186 2,412,730 2,412,730 18,835,916

Table 4.2
Revenues, expenses and other changes in equity of consolidated Crown corporations and other entities for the year ended March 31, 2017
(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 114,430 784,133 1,167 899,730 510,588 4,870 515,458 384,272 (negative 7,804,754) 466,175 878 (negative 28,785) (negative 6,982,214)
Canada Council for the Arts 17,317 222,574 835 240,726 235,008 875 235,883 4,843 280,745 17,261 302,849
Canada Development Investment Corporation PPP Canada Inc 56 179,618 2,351 182,025 179,199 714 179,913 2,112 5,289 7,401
Canadian Air Transport Security Authority 7,699 723,734 731,433 663,348 15,845 679,193 52,240 436,223 488,463
Canadian Broadcasting Corporation 557,107 1,113,024 3,176 1,673,307 1,454,203 1,578 1,455,781 217,526 1,515,452 1,732,978
Canadian Commercial Corporation 2,650,091 3,510 3,630 2,657,231 2,652,451 4,535 2,656,986 245 28,669 28,914
Canadian Dairy Commission 321,565 3,773 325,338 309,147 1,222 310,369 14,969 (negative 14,969)
Canadian Museum for Human Rights 10,792 38,228 49,020 38,844 1,805 40,649 8,371 480 8,851
Canadian Museum of History 20,040 77,888 1,096 99,024 83,877 14,032 97,909 1,115 68,660 (negative 2,295) 67,480
Canadian Museum of Immigration at Pier 21 2,727 9,978 111 12,816 9,525 2,515 12,040 776 2,476 (negative 171) 174 3,255
Canadian Museum of Nature 9,639 31,699 240 41,578 36,673 3,372 40,045 1,533 (negative 7,889) (negative 6,356)
Canadian Race Relations Foundation 3,634 871 4,505 676 743 1,419 3,086 28,063 (negative 224) (negative 1,190) 29,735
Canadian Tourism Commission 21,727 100,476 376 122,579 102,998 170 103,168 19,411 19,767 (negative 502) 38,676
Defence Construction (1951) Limited 740 95,945 96,685 102,481 131 102,612 (negative 5,927) 26,666 359 (negative 8,500) 12,598
International Development Research Centre 50,551 147,474 16,173 214,198 202,456 3,414 205,870 8,328 17,839 26,167
Marine Atlantic Inc. 113,467 98,801 212,268 219,995 219,995 (negative 7,727) 483,889 5,108 481,270
National Arts Centre Corporation 28,610 40,692 722 70,024 68,693 1,920 70,613 (negative 589) (negative 1,326) (negative 1,915)
National Capital Commission 31,403 91,256 7,458 130,117 127,526 7,370 134,896 (negative 4,779) 648,106 643,327
National Gallery of Canada 25,490 46,507 572 72,569 68,657 8,169 76,826 (negative 4,257) 9,194 4,937
National Museum of Science and Technology 7,116 31,476 681 39,273 34,375 4,896 39,271 2 13,273 13,275
Standards Council of Canada 9,176 10,515 649 20,340 21,582 247 21,829 (negative 1,489) 5,339 3,850
Telefilm Canada 28,707 97,454 96 126,257 123,851 1,929 125,780 477 26,108 26,585
The Federal Bridge Corporation Limited 43,611 3,135 46,746 46,567 46,567 179 238,803 (negative 328) (negative 113) 238,541
The Jacques Cartier and Champlain Bridges Inc. 1,211 286,198 287,409 231,256 231,256 56,153 461,419 517,572
VIA Rail Canada Inc. 325,060 358,826 2,551 686,437 652,478 8,297 660,775 25,662 295,969 321,631
Windsor-Detroit Bridge Authority 1,297 339,348 205 340,850 40,298 40,298 300,552 118,321 (negative 1,872) (negative 308) 416,693
Total—Crown corporations 4,403,263 4,840,317 138,905 9,382,485 8,216,752 88,649 8,305,401 1,077,084 (negative 3,083,219) 448,611 19,372 (negative 8,500) (negative 28,785) (negative 1,575,437)
Conversion to the Government accounting basis for consolidation purposes 36,795 12,407 49,202 92,094 (negative 11,759) 80,335 (negative 31,133) 3,610,912 (negative 448,611) (negative 19,372) 8,500 28,785 3,149,081
Total on the Government accounting basis 4,440,058 4,852,724 138,905 9,431,687 8,308,846 76,890 8,385,736 1,045,951 527,693 1,573,644
Consolidation adjustments 942 (negative 4,852,724) (negative 138,905) (negative 4,990,687) 3,082 (negative 76,890) (negative 73,808) (negative 4,916,879) 4,916,879
Net amount—Crown corporations 4,441,000 4,441,000 8,311,928 8,311,928 (negative 3,870,928) 527,693 4,916,879 1,573,644
Other entities
Canada Foundation for Innovation 5,202 327,880 2,014 335,096 335,040 56 335,096
Canada Foundation for Sustainable Development Technology 312 110,715 111,027 111,027 111,027
First Nations Market Housing Fund 9,946 983 10,929 9,946 983 10,929
St. Lawrence Seaway Management Corporation 68,924 1,694 113,722 184,340 163,696 200 163,896 20,444 55,881 76,325
Capital Fund Trust 22 119,000 (negative 3,590) 115,432 2 115,430 115,432
Employee Termination Benefits Trust Fund 16 16 2 14 16
Total—Other entities 84,422 559,289 113,129 756,840 619,713 116,683 736,396 20,444 55,881 76,325
Conversion to the Government accounting basis for consolidation purposes 88,496 (negative 205,159) (negative 325) (negative 116,988) 1,712 (negative 2,312) (negative 600) (negative 116,388) 879,149 762,761
Total on the Government accounting basis 172,918 354,130 112,804 639,852 621,425 114,371 735,796 (negative 95,944) 935,030 839,086
Consolidation adjustments 2,672 (negative 354,130) (negative 112,804) (negative 464,262) 983 (negative 114,371) (negative 113,388) (negative 350,874) 350,874
Net amount—Other entities 175,590 175,590 622,408 622,408 (negative 446,818) 935,030 350,874 839,086
Total 4,616,590 4,616,590 8,934,336 8,934,336 (negative 4,317,746) 1,462,723 5,267,753 2,412,730

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 4.3
Borrowings by consolidated agent Crown corporations
(in thousands of dollars)

  Balance April 1, 2016 Borrowings and other credits Repayments and other charges Balance March 31, 2017
Canadian Broadcasting Corporation 361,427 9,100 30,791 339,736
Canadian Dairy Commission 2,261 31,123 31,142 2,242
The Federal Bridge Corporation Limited 88,312 8,275 80,037
Total 452,000 40,223 70,208 422,015

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 4.4
Contingent liabilities of consolidated Crown corporations and other entities
(in thousands of dollars)

  March 31, 2017
Agent Crown corporations
National Gallery of Canada—Claims and pending and threatened litigation 255
Non-agent Crown corporations
St. Lawrence Seaway Management Corporation—Claims and pending and threatened litigation 786
St. Lawrence Seaway Management Corporation—Letters of credit 344
Total 1,385

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 4.5
Financial assistance under budgetary appropriations to consolidated Crown corporations for the year ended March 31, 2017
(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 Limited 784,133 784,133
Canadian Air Transport Security Authority 725,304 725,304
Canadian Broadcasting Corporation 1,002,307 110,717 1,113,024
Canadian Commercial Corporation 3,510 3,510
Canadian Dairy Commission 3,773 3,773
Canadian Museum for Human Rights 33,604 33,604
Canadian Museum of History 77,747 77,747
Canadian Museum of Immigration at Pier 21 7,900 7,900
Canadian Museum of Nature 29,770 29,770
Canadian Tourism Commission 95,476 95,476
National Capital Commission 580 67,835 22,789 91,204
National Gallery of Canada 38,127 8,000 46,127
National Museum of Science and Technology 108,103 108,103
Telefilm Canada 97,454 97,454
The Federal Bridge Corporation Limited 41,782 41,782
The Jacques Cartier and Champlain Bridges Inc. 284,287 284,287
Total—Agent Crown corporations 2,293,423 1,108,269 141,506 3,543,198
Non-agent Crown corporations
Canada Council for the Arts 222,574 222,574
International Development Research Centre 147,474 147,474
Marine Atlantic Inc. 98,967 98,967
National Arts Centre Corporation 135,309 135,309
PPP Canada Inc 11,800 11,800
Standards Council of Canada 10,515 10,515
VIA Rail Canada Inc. 348,387 348,387
Windsor-Detroit Bridge Authority 334,500 334,500
Total—Non-agent Crown corporations 1,309,526 1,309,526
Total 3,602,949 1,108,269 141,506 4,852,724

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