Consolidated Crown corporations and other entities
Public Accounts of Canada 2016 Volume I—Top of the page Navigation
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.
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.
|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|
|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|
|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|
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.
|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|
|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|
|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|
|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||–||–||–||–||–||–||–|
|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|
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.
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.
|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|
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.
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.
|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|
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.
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.
|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|
|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|
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