Unmatured debt

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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, 2017.

Table 6.2
Marketable bonds
(in dollars)

  April 1, 2016 Receipts and other creditsLink to footnote 1 Payments and other chargesLink to footnote 1 March 31, 2017
Payable in Canadian currency
Matured 2016–2017 77,191,083,000 77,191,083,000
Maturing
2017–2018 91,349,185,000 23,217,705,000 68,131,480,000
2018–2019 42,122,764,000 50,700,000,000 1,465,802,000 91,356,962,000
2019–2020 38,050,000,000 31,200,000,000 69,250,000,000
2020–2021 40,467,361,000 40,467,361,000
2021–2022 19,684,169,500 30,166,583,250 49,850,752,750
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 15,403,156,000 15,403,156,000
2026–2027 15,079,215,000 6,159,862,500 21,239,077,500
2027–2028 4,035,975,000 9,000,000,000 13,035,975,000
2029–2030 10,949,933,000 46,553,000 10,903,380,000
2031–2032 8,047,326,000 169,708,000 8,217,034,000
2033–2034 12,795,905,000 363,000,000 12,432,905,000
2036–2037 7,201,759,500 151,924,500 7,353,684,000
2037–2038 13,516,957,000 257,244,000 13,259,713,000
2041–2042 23,160,065,500 157,527,500 331,655,000 22,985,938,000
2044–2045 8,445,360,000 178,178,000 8,623,538,000
2045–2046 16,400,000,000 16,400,000,000
2047–2048 5,656,145,000 2,429,471,000 8,085,616,000
2048–2049 7,800,000,000 4,300,000,000 12,100,000,000
2064–2065 3,500,000,000 3,500,000,000
Subtotal 504,120,933,500 134,613,254,750 102,873,042,000 535,861,146,250
Less:
Government holdings of unmatured debt 500,000,000 (negative 500,000,000)
Consolidation adjustmentLink to footnote 2 (negative 446,781,000) (negative 40,223,000) (negative 68,594,000) (negative 418,410,000)
Subtotal 53,219,000 (negative 540,223,000) (negative 68,594,000) (negative 418,410,000)
Total marketable bonds payable in Canadian currency 504,067,714,500 135,153,477,750 102,941,636,000 536,279,556,250
Payable in foreign currencies
Matured 2016–2017 3,939,273,982 3,939,273,982
Maturing
2017–2018 4,545,450,000 109,200,000 4,654,650,000
2018–2019 3,916,983,096 94,101,696 4,011,084,792
2019–2020 2,959,945,450 109,200 117,600,000 2,842,454,650
Subtotal 15,361,652,528 203,410,896 4,056,873,982 11,508,189,442
Less: Government's holdings and securities held for the retirement of unmatured debtLink to footnote 3 56,102,463 31,497,504 2,536,151 27,141,110
Total marketable bonds payable in foreign currencies 15,305,550,065 234,908,400 4,059,410,133 11,481,048,332
Total 519,373,264,565 135,388,386,150 107,001,046,133 547,760,604,582

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, 2017 consists of $40,100 million in three-month bills; $27,200 million in six-month bills; $63,400 million in 364–day bills; and $6,000 million in odd-issue bills.

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

Table 6.3
Treasury bills
(in dollars)

  April 1, 2016 Receipts and other credits Payments and other charges March 31, 2017
Three-month bills 41,000,000,000 164,200,000,000 165,100,000,000 40,100,000,000
Six-month bills 29,700,000,000 63,400,000,000 65,900,000,000 27,200,000,000
Other bills 67,400,000,000 142,900,000,000 140,900,000,000 69,400,000,000
Subtotal 138,100,000,000 370,500,000,000 371,900,000,000 136,700,000,000
Less: Consolidation adjustmentLink to footnote 4
Total 138,100,000,000 370,500,000,000 371,900,000,000 136,700,000,000

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 6.4
Retail debt
(in dollars)

  April 1, 2016 Receipts and other credits Payments and other charges March 31, 2017
Canada savings bonds (CSB)
Matured 2016–2017Link to footnote 5 615,208,274 615,208,274
Maturing
2017–2018Link to footnote 6 1,012,757,990 283,951,156 728,806,834
2018–2019Link to footnote 7 1,261,075,296 763,641,532 832,766,095 1,191,950,733
2019–2020Link to footnote 8 224,369,630 921,804,022 221,798,527 924,375,125
2020–2021Link to footnote 9 228,435,496 33,593,241 194,842,255
2021–2022 269,885,050 43,779,366 226,105,684
Subtotal 3,611,731,736 1,685,445,554 2,031,096,659 3,266,080,631
Canada premium bonds (CPB)
Matured 2016–2017 248,796,068 248,796,068
Maturing
2017–2018 190,818,230 629,990 191,448,220
2018–2019Link to footnote 7 531,935,830 41,790,337 490,145,493
2019–2020Link to footnote 8 220,871,923 141,244,927 25,999,914 336,116,936
2020–2021Link to footnote 9 139,518,900 13,418,129 126,100,771
2021–2022 132,380,459 8,930,572 123,449,887
Subtotal 1,464,321,410 141,874,917 338,935,020 1,267,261,307
Total 5,076,053,146 1,827,320,471 2,370,031,679 4,533,341,938

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, 2017.

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

Table 6.5
Canada bills
(in dollars)

  April 1, 2016 Receipts and other credits Payments and other charges March 31, 2017
Canada bills before revaluation 4,675,196,344 20,769,838,220 21,995,781,187 3,449,253,377
Exchange valuation adjustment 72,206,701 9,889 72,196,812
Total 4,747,403,045 20,769,838,220 21,995,791,076 3,521,450,189

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, 2017.

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

Table 6.6
Medium‑term notes
(in dollars)

  April 1, 2016 Receipts and other credits Payments and other charges March 31, 2017
Payable in foreign currencies
Matured 2016–2017 519,480,000 519,480,000
Maturing
2018–2019 324,675,000 7,800,000 332,475,000
2019–2020 551,947,500 678,210,000 1,230,157,500
2020–2021 968,407,500 9,120,000 977,527,500
2021–2022 64,935,000 1,560,000 66,495,000
Total 2,429,445,000 696,690,000 519,480,000 2,606,655,000

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

  April 1, 2016 Receipts and other credits Payments and other charges March 31, 2017
Unamortized discounts on Canada bills (negative 3,238,603) 27,699,819 28,651,520 (negative 4,190,304)
Unamortized discounts on Treasury bills (negative 206,165,289) 737,080,697 767,059,124 (negative 236,143,716)
Unamortized discounts and premiums on marketable bonds 5,256,233,025 960,909,255 654,811,056 5,562,331,224
Total 5,046,829,133 1,725,689,771 1,450,521,700 5,321,997,204

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 2012–2013 to 2016–2017 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 6.8
Market debt as at March 31, from 2013 to 2017, 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 %
2017 547,761 2.25 136,700 0.54 4,533 0.66 3,521 0.77 2,607 1.06 695,122 1.89
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

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 2012–2013 to 2016–2017 inclusively.

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

Year ended March 31 High Low Last issue
Three-month bills
2017 0.55 0.46 0.51
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
Six-month bills
2017 0.58 0.51 0.55
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
364-days bills
2017 0.65 0.50 0.64
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
Other bills
2017 0.58 0.46 0.53
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

Maturity of Government debt

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

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 %
2018 72,786 1.32 136,700 0.54 920 0.62 3,521 0.77 213,927 3.25
2019 95,368 1.14 1,682 0.71 332 0.95 97,382 2.80
2020 72,092 2.07 1,260 0.59 1,230 1.16 74,582 12.61
2021 40,467 1.78 321 0.61 978 0.96 41,766 9.16
2022 49,851 1.87 350 0.82 67 1.05 50,268 3.74
2023–2027 79,907 2.69 79,907 2.69
2028–2032 32,156 4.26 32,156 4.26
2033–2037 19,787 4.73 19,787 4.73
2038–2042 36,246 3.95 36,246 3.95
2043–2047 25,024 2.81 25,024 2.81
2048–2052 20,186 2.15 20,186 2.15
2063–2067 3,500 2.75 3,500 2.75
Subtotal 547,370 2.25 136,700 0.54 4,533 0.66 3,521 0.77 2,607 1.06 694,731 1.89
Less: Government's holdings and consolidation adjustmentLink to footnote 10 (negative 391) (negative 391)
Total 547,761 2.25 136,700 0.54 4,533 0.66 3,521 0.77 2,607 1.06 695,122 1.89

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

  April 1, 2016 Issues/Borrowings Retirements March 31, 2017
Market debt of the Government of CanadaLink to footnote 11 669,726 529,182 503,786 695,122
Cross-currency swap revaluation 8,391 627 7,764
Unamortized discounts and premiums on market debtLink to footnote 11 5,047 1,726 1,451 5,322
Obligation related to capital leasesLink to footnote 11 3,477 76 327 3,226
Other unmatured debt 1,570 639 10 2,199
Subtotal 688,211 531,623 506,201 713,633
Borrowings of enterprise Crown corporations designated as agents of Her Majesty 266,434 92,275 82,150 276,559
Total 954,645 623,898 588,351 990,192

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 6.12
Obligation related to capital leases
(in dollars)

  April 1, 2016 Net changes March 31, 2017
Land 4,647,319 (negative 975,033) 3,672,286
Buildings 2,616,266,591 (negative 115,423,062) 2,500,843,529
Works and infrastructure 509,036,598 (negative 21,999,164) 487,037,434
Machinery and equipment 121,740,800 (negative 54,444,432) 67,296,368
Vehicles 225,190,347 (negative 58,202,382) 166,987,965
Total 3,476,881,655 (negative 251,044,073) 3,225,837,582

Capital leases

Table 6.13 provides details of obligation under capital lease arrangements.

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 12 Balances at March 31, 2017
Total estimated remaining minimum lease payments Less: imputed interest using the discount rate Net obligations under capital lease arrangements
Canadian Heritage
Canadian Broadcasting Corporation
7067 Chebucto Rd, Halifax June 2015 7 2.14 7,490 635 6,855
Telesat Feb 2001 17 6.82 10,025 287 9,738
Subtotal 17,515 922 16,593
Canadian Museum of Nature
Natural Heritage Building, Gatineau Sept 1996 35 9.88 50,750 23,905 26,845
Canadian Race Relations Foundation
Capital leases less than $1,000,000 5 5
National Capital Commission
40 Elgin Street, Ottawa June 2016 25 2.00 60,256 12,618 47,638
National Film Board
Capital leases less than $1,000,000 210 6 204
Environment and Climate Change
Department of the Environment
Carleton University, Ottawa—National Wildlife Research Centre May 2002 25 5.63 13,000 3,262 9,738
Parks Canada Agency
Greenwich Interpretation Multipurpose Centre March 2001 24 6.30 3,190 728 2,462
Rocky Mountains Co-operative Housing Association Nov 2001 18 6.30 389 33 356
Other capital leases less than $1,000,000 15 2 13
Subtotal 3,594 763 2,831
National Defence
Department of National Defence
Boilers (2) Stadacona/Dockyard Halifax Oct 2014 3 1.31 1,966 12 1,954
Edmonton Armoury—North Dec 2000 20 5.62 5,187 509 4,678
Edmonton Armoury—South May 2001 20 6.07 8,655 999 7,656
Longue Pointe Supply Depot Nov 1994 35 7.64 42,829 15,517 27,312
Milit-Air Capital Lease (NFTC) (Lease 1 of 2) Dec 1999 20 5.78 157,266 12,759 144,507
Milit-Air Capital Lease (NFTC) (Lease 2 of 2) Oct 2003 17 5.87 25,196 2,715 22,481
Montfort Hospital—Health Services Oct 2003 17 5.26 37,381 6,069 31,312
Shawinigan Armoury May 1999 20 5.46 1,181 68 1,113
Subtotal 279,661 38,648 241,013
Natural Resources
Department of Natural Resources
183 Longwood Drive, Hamilton Nov 2010 25 1.65 81,390 11,354 70,036
Public Safety and Emergency Preparedness
Correctional Service of Canada
Capital leases less than $1,000,000 113 17 96
Royal Canadian Mounted Police
Firing range, Chilliwack Feb 2016 4 3.50 1,987 120 1,867
RCMP Detachment, Cornwall Aug 2009 25 5.54 19,960 7,172 12,788
Other capital leases less than $1,000,000 1,047 376 671
Subtotal 22,994 7,668 15,326
Public Services and Procurement
Department of Public Works and Government Services
1 Arctic Road, Inuvik March 2008 10 10.73 172 10 162
110 O'Connor Street, Ottawa (Lease 1 of 6) April 2009 10 5.70 1,156 66 1,090
110 O'Connor Street, Ottawa (Lease 2 of 6) April 2009 10 5.43 1,134 62 1,072
110 O'Connor Street, Ottawa (Lease 3 of 6) Dec 2009 10 5.43 2,520 179 2,341
110 O'Connor Street, Ottawa (Lease 4 of 6) Dec 2009 10 5.43 1,868 133 1,735
110 O'Connor Street, Ottawa (Lease 5 of 6) Dec 2009 10 5.43 976 69 907
110 O'Connor Street, Ottawa (Lease 6 of 6) April 2010 10 4.37 552 32 520
1104 Ikaluktuutiak Drive, Iqaluit Nov 2011 10 2.60 2,939 171 2,768
111 Lombard Avenue, Winnipeg Nov 2014 20 2.69 20,338 4,147 16,191
1164 Devonshire Avenue, North Bay April 2011 10 3.67 780 56 724
1200 Commissioners Road East, London Dec 2012 10 9.02 2,145 472 1,673
12511 Vulcan Way, Richmond July 2014 15 4.25 1,847 410 1,437
1300 Bath Road, Kingston Feb 2012 10 2.20 598 31 567
1363 4th Avenue, Prince George Dec 2010 10 6.84 641 76 565
139 Douglastown Boulevard, Miramichi Oct 2012 10 1.95 2,582 136 2,446
1431 Merivale Road, Ottawa Oct 2007 10 8.22 263 6 257
144 Millennium Drive, Quispamsis Nov 2011 15 8.74 1,227 398 829
145 Hobsons Lake Drive, Halifax Sept 2016 10 4.86 9,467 1,882 7,585
1550 d'Estimauville Avenue, Quebec Nov 2011 20 8.24 63,636 26,674 36,962
159 Cleopatra Drive, Ottawa March 2011 10 1.33 2,197 57 2,140
1600 Star Top Road, Ottawa July 2004 15 7.15 6,883 543 6,340
165 Edgecomb Drive, Charlottetown Aug 2012 15 8.65 1,580 538 1,042
1725 Woodward Drive, Ottawa (Lease 1 of 2) Dec 2009 10 8.94 1,197 135 1,062
1725 Woodward Drive, Ottawa (Lease 2 of 2) Dec 2009 10 8.55 1,105 120 985
179 3rd Avenue, Timmins Feb 2010 10 8.69 2,167 252 1,915
180 Bass Pro Mills Drive, Vaughan Sept 2014 10 2.20 4,250 332 3,918
1801 Hollis and Duke, Halifax Oct 2009 10 3.89 1,255 61 1,194
181 Queen Street, Ottawa March 2004 20 10.65 26,076 7,768 18,308
1869 Upper Water Street, Halifax Aug 2016 10 2.40 4,722 494 4,228
187 Booth Road, North Bay Jan 2017 10 4.64 1,981 392 1,589
1925 McCallum Road, Abbotsford Nov 2008 15 4.30 2,908 394 2,514
200 John Street West, Oshawa Nov 2009 10 7.16 718 64 654
2030 Pie IX Boulevard, Montreal May 2015 10 3.83 2,051 290 1,761
215-219 George Street, Peterborough April 2012 10 4.48 883 98 785
22 de Varennes Street, Gatineau Nov 2007 10 10.97 362 13 349
22 Eddy Street, Gatineau May 2013 25 7.89 251,940 130,018 121,922
220 Fortin Street, Quebec Dec 2007 10 15.65 157 9 148
2250 St-Olivier Street, Trois-Rivières Sept 2012 10 9.03 1,942 411 1,531
2455 Don Reid Drive, Ottawa Dec 2009 15 7.71 2,365 584 1,781
2575 Sainte-Anne Boulevard, Quebec April 2015 20 10.32 39,624 21,648 17,976
269 Laurier Avenue, Ottawa Sept 2005 15 4.18 19,960 1,390 18,570
295 Belliveau Avenue, Shediac Jan 2007 15 7.93 1,859 319 1,540
3 Lower Malpeque Road, Charlottetown June 2008 10 4.19 165 4 161
30 Victoria Street, Gatineau June 2013 25 7.89 252,915 130,821 122,094
301 Bishop Drive, Fredericton Feb 2014 15 5.30 2,141 553 1,588
3020 Hawthorne Road, Ottawa Dec 2012 15 2.27 6,067 683 5,384
3085 Glen Erin Drive, Mississauga (Lease 1 of 2) Aug 2010 7 7.28 95 1 94
3085 Glen Erin Drive, Mississauga (Lease 2 of 2) Nov 2010 10 5.74 1,032 101 931
325 Broadway Avenue, Winnipeg Jan 2008 10 10.37 1,044 44 1,000
3299 Industriel Boulevard, Sherbrooke Nov 2009 10 6.24 516 41 475
351 Saint-Joseph Boulevard, Gatineau (Lease 1 of 3) Aug 2011 25 5.28 69,633 26,046 43,587
351 Saint-Joseph Boulevard, Gatineau (Lease 2 of 3) Dec 2011 25 7.33 17,989 8,436 9,553
351 Saint-Joseph Boulevard, Gatineau (Lease 3 of 3) Aug 2014 12 2.45 9,304 996 8,308
360 George Street North, Peterborough April 2012 10 8.70 1,133 217 916
3600 Lysander Lane, Richmond March 2010 10 0.43 1,164 8 1,156
395 Terminal Avenue, Ottawa Jan 2013 15 2.67 47,886 6,304 41,582
4110 Wellington Street, Verdun June 2012 10 7.20 838 137 701
419 Kensington Avenue, Estevan Oct 2011 10 2.87 585 37 548
425 Bloor Street, Toronto June 2014 10 2.39 1,822 149 1,673
444 5th Street, Shawinigan Dec 2011 10 8.50 1,490 264 1,226
455 de la Carrière Boulevard, Gatineau Nov 2012 25 6.86 188,870 89,319 99,551
485 Bishop Drive, Fredericton Dec 2011 15 6.16 1,103 274 829
4901-05 46th Street, Red Deer Aug 2011 10 3.11 1,111 73 1,038
5019 52nd Street, Yellowknife Feb 2011 10 2.54 817 39 778
5151 De la Savane Street, Montreal June 2014 10 2.39 1,939 159 1,780
516 O'Connor Drive, Kingston April 2016 10 1.59 2,338 161 2,177
522 Main Street, Shediac April 2012 10 2.34 1,781 102 1,679
555 McAllister Drive, Saint John Nov 2007 10 8.16 372 10 362
559 College Street, Toronto July 2012 10 2.24 1,642 89 1,553
635 8th Avenue South West, Calgary July 2009 10 3.55 2,463 99 2,364
6500 Trans-Canada Highway, Pointe-Claire Sept 2012 10 1.95 674 35 639
6503 67th Street, Red Deer Sept 2009 10 4.81 317 18 299
667 Notre-Dame Street, Repentigny April 2013 10 2.01 883 52 831
8 Colonnade Road, Ottawa May 2007 10 5.91 24 Link to footnote 13 24
8 Oakes Avenue, Kirkland Lake April 2012 10 6.93 4,305 675 3,630
8 Queen Street East, Sault Ste Marie June 2010 10 4.95 925 70 855
81 Kingmingya Road, Inuvik Jan 2011 10 7.35 573 73 500
81 Mulcaster Street, Barrie Sept 2012 15 12.99 5,802 2,631 3,171
825-827 Fort Street, Victoria Oct 2011 10 2.66 859 50 809
859 Main Street, Moncton July 2008 10 5.49 242 9 233
90 Elgin Street, Ottawa Nov 2014 25 7.23 441,208 224,085 217,123
933 Mivvik Street, Iqualuit (Lease 1 of 2) June 2013 10 2.19 3,201 209 2,992
933 Mivvik Street, Iqualuit (Lease 2 of 2) Sept 2013 10 2.72 2,296 191 2,105
985 McGill Place, Kamloops June 2002 15 13.50 51 1 50
98-100 Racine Street East, Saguenay June 2011 9 5.36 709 72 637
Admiral Building, Ottawa Aug 2009 15 11.51 1,319 441 878
Albion Executive Tower, Ottawa Dec 2009 10 6.80 856 75 781
Anderson Building, Selkirk Jan 2012 10 2.18 590 29 561
Barker House, Fredericton April 2010 10 2.82 1,101 46 1,055
Bell Canada Place, Ottawa May 2003 15 10.88 1,023 62 961
Broad Street Crossing, Regina (Lease 1 of 2) May 2008 10 4.88 236 7 229
Broad Street Crossing, Regina (Lease 2 of 2) May 2008 10 9.77 183 10 173
Canada Place Building, Edmonton Oct 2007 25 4.44 303,391 88,125 215,266
Canada Post Place, Ottawa Dec 2004 15 4.91 8,185 528 7,657
Cargill Building, Winnipeg July 2008 10 7.38 1,437 68 1,369
Carling Square, Tower I, Ottawa Oct 2007 10 11.76 415 14 401
Carling Square, Tower II, Ottawa Dec 2007 10 7.83 897 26 871
Centennial House, Winnipeg April 2008 10 4.69 531 13 518
Chahko Mika Mall, Nelson Nov 2011 10 7.89 1,303 213 1,090
Chebucto Place, Halifax May 2011 10 3.45 878 60 818
Chief Joseph Big Plume Building, Sarcee Jan 2011 10 5.93 1,693 178 1,515
City Place III, Kingston Jan 2016 10 1.68 2,056 146 1,910
City Place, Winnipeg (Lease 1 of 2) Nov 2008 10 9.16 481 35 446
City Place, Winnipeg (Lease 2 of 2) April 2009 10 7.04 1,112 78 1,034
Coast Guard Base, Mount Pearl Feb 2011 8 2.21 483 10 473
Commodity Exchange & Winnipeg Square, Winnipeg (Lease 1 of 2) Jan 2009 9 9.61 586 23 563
Commodity Exchange & Winnipeg Square, Winnipeg (Lease 2 of 2) Jan 2009 9 9.74 418 16 402
Crowsnest Trail Plaza, Lethbridge July 2008 10 5.83 229 9 220
De La Cité Place, Gatineau Dec 2003 15 9.78 6,507 525 5,982
Des Explorateurs Place, Gatineau Oct 2008 10 4.68 479 17 462
Fontaine Building, Gatineau Jan 2008 15 5.82 19,050 2,895 16,155
Fraser Building, Ottawa Feb 2010 10 3.24 1,298 59 1,239
Frederick Square, Fredericton Dec 2011 10 2.31 617 33 584
Galeries Laurentides, Saint-Jérôme June 2007 10 15.13 41 1 40
Glencoe Building, Mount Pearl Dec 2007 10 10.74 262 10 252
Guy Favreau Complex, Montreal Jan 2004 15 5.84 41,927 3,470 38,457
Harry Hays Building, Calgary Oct 2007 25 4.44 300,401 87,271 213,130
Hérelle Place, Longueuil Sept 2012 10 8.98 823 173 650
Heritage Court, Moncton July 2013 15 5.48 5,167 1,317 3,850
Joseph Shepard Building, Toronto Oct 2007 25 4.44 207,712 60,347 147,365
Judicial Complex, Toronto April 2006 20 11.40 57,391 22,006 35,385
Kamotiq Building, Nunavut April 2011 10 5.10 2,250 218 2,032
Kent Square Building, Ottawa Oct 2007 10 4.52 321 4 317
Laurier Place, Ottawa May 2009 10 5.51 938 54 884
Library Square (Block 56), Vancouver May 1995 25 9.68 20,556 2,845 17,711
Lionel Chevrier Building, Cornwall Dec 2004 15 6.07 2,110 167 1,943
Louis St-Laurent Building, Gatineau Nov 2001 15 6.38 15,000 15,000
Maritime Centre, Halifax (Lease 1 of 2) Jan 2010 15 6.26 12,583 2,662 9,921
Maritime Centre, Halifax (Lease 2 of 2) Jan 2010 15 5.78 1,305 258 1,047
Market Square, Kitchener July 2014 10 2.39 990 82 908
Megasys Phase II, Calgary Feb 2008 10 4.79 758 19 739
Mercury Centre, Ottawa Jan 2007 25 4.50 95,893 25,924 69,969
Mews Place, St. John's Oct 2011 10 2.37 1,639 87 1,552
Montcalm Place, Phase III, Gatineau Dec 2003 15 8.65 6,783 487 6,296
Montcalm Place, Tower II, Gatineau April 2012 15 2.64 18,020 2,198 15,822
Morgan Building, Clarenville May 2013 10 6.27 876 149 727
Narono Building, Ottawa Feb 2008 10 4.61 221 5 216
Nova Plaza, Yellowknife (Lease 1 of 2) April 2009 10 6.00 874 52 822
Nova Plaza, Yellowknife (Lease 2 of 2) April 2010 10 10.21 593 84 509
Parks Canada Building, Dartmouth July 2009 20 7.61 3,321 1,165 2,156
Queen Square, Dartmouth (Lease 1 of 2) Sept 2011 10 3.18 5,891 402 5,489
Queen Square, Dartmouth (Lease 2 of 2) April 2016 10 10.85 3,293 1,541 1,752
RCMP Building, Montreal Oct 2007 25 4.44 52,244 15,218 37,026
Revenue Canada Building, Montreal Oct 2007 25 4.44 106,223 30,870 75,353
Roper Ridge Business Park, Edmonton Nov 2008 10 6.43 1,472 76 1,396
Rosdev de Ville, Gatineau June 2007 10 4.58 616 4 612
Royal Centre, New Westminster (Lease 1 of 2) Nov 2008 10 11.22 460 40 420
Royal Centre, New Westminster (Lease 2 of 2) March 2011 9 5.96 513 50 463
Samuel-Holland Complex, Quebec July 2011 10 3.13 635 41 594
Sixty Queen Building, Ottawa (Lease 1 of 2) July 2008 10 3.94 278 5 273
Sixty Queen Building, Ottawa (Lease 2 of 2) May 2009 9 0.32 795 1 794
Sixty-Six Slater Building, Ottawa (Lease 1 of 2) April 2009 10 4.95 1,224 61 1,163
Sixty-Six Slater Building, Ottawa (Lease 2 of 2) Sept 2010 10 5.53 713 65 648
Skyline Complex, Ottawa Oct 2007 25 4.44 235,057 68,370 166,687
Smith Building, St. John's July 2009 10 7.08 1,058 83 975
Stock Exchange Tower, Montreal April 2012 10 3.36 825 67 758
The Baker Center Building, Edmonton Dec 2007 10 4.45 122 2 120
The New Two Seventy Building, Ottawa June 2007 10 4.58 195 1 194
Thomas D'Arcy McGee Building, Ottawa Oct 2007 25 4.44 183,205 53,199 130,006
Time Square Building, Ottawa Oct 2010 10 4.76 2,360 190 2,170
Trebla Building, Ottawa (Lease 1 of 2) April 2009 10 9.46 2,183 201 1,982
Trebla Building, Ottawa (Lease 2 of 2) April 2009 10 2.73 231 6 225
Trusco Building, Ottawa Sept 2006 20 4.28 65,412 11,654 53,758
VAC Records Management Centre, Charlottetown Nov 2007 15 13.43 1,841 551 1,290
Vanguard Building, Ottawa Nov 2007 10 4.80 278 4 274
Vault Building, Lethbridge April 2008 10 6.18 201 7 194
Waldron Building, Yellowknife Aug 2007 10 12.22 85 2 83
Woodward's Abbott Building, Vancouver Jan 2010 15 5.35 3,648 672 2,976
Other capital leases less than $1,000,000 41,186 8,021 33,165
Subtotal 3,441,700 1,190,478 2,251,222
Defence Construction (1951) Limited
Capital leases less than $1,000,000 330 16 314
Shared Services Canada
IBM—Consolidated Enterprise Servers Jan 2015 4 0.65 51,520 304 51,216
Supercomputer Meteorological Service of Canada Sept 2015 2 0.53 5,500 5 5,495
Subtotal 57,020 309 56,711
Transport
Department of Transport
Confederation Bridge, Borden-Carleton May 1997 35 6.16 1,035,871 548,833 487,038
Other ministries
Capital leases less than $1,000,000 239 11 228
Total 5,064,648 1,838,810 3,225,838

Minimum lease payments related to capital leases

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

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

  Payments due by March 31
2018 2019 2020 2021 2022 2023 and subsequent Total
Canadian Heritage
Canadian Broadcasting Corporation
Remaining payments 10,728 690 690 690 690 4,027 17,515
Imputed interest 435 135 123 110 97 22 922
Subtotal 10,293 555 567 580 593 4,005 16,593
Canadian Museum of Nature
Remaining payments 3,500 3,500 3,500 3,500 3,500 33,250 50,750
Imputed interest 2,627 2,536 2,436 2,325 2,202 11,779 23,905
Subtotal 873 964 1,064 1,175 1,298 21,471 26,845
Canadian Race Relations Foundation
Remaining payments 2 1 1 1 5
Imputed interest
Subtotal 2 1 1 1 5
National Capital Commission
Remaining payments 2,306 2,306 2,306 2,306 2,654 48,378 60,256
Imputed interest 940 913 885 856 824 8,200 12,618
Subtotal 1,366 1,393 1,421 1,450 1,830 40,178 47,638
National Film Board
Remaining payments 138 72 210
Imputed interest 4 2 6
Subtotal 134 70 204
Environment and Climate Change
Department of the Environment
Remaining payments 1,300 1,300 1,300 1,300 1,300 6,500 13,000
Imputed interest 548 506 461 414 364 969 3,262
Subtotal 752 794 839 886 936 5,531 9,738
Parks Canada Agency
Remaining payments 544 544 508 403 403 1,192 3,594
Imputed interest 166 141 115 94 73 174 763
Subtotal 378 403 393 309 330 1,018 2,831
National Defence
Department of National Defence
Remaining payments 83,959 81,886 49,837 14,249 7,636 42,094 279,661
Imputed interest 12,796 8,744 4,483 2,748 2,278 7,599 38,648
Subtotal 71,163 73,142 45,354 11,501 5,358 34,495 241,013
Natural Resources
Department of Natural Resources
Remaining payments 4,372 4,372 4,372 4,372 4,372 59,530 81,390
Imputed interest 1,131 1,077 1,023 967 910 6,246 11,354
Subtotal 3,241 3,295 3,349 3,405 3,462 53,284 70,036
Public Safety and Emergency Preparedness
Correctional Service of Canada
Remaining payments 27 27 27 32 113
Imputed interest 7 5 4 1 17
Subtotal 20 22 23 31 96
Royal Canadian Mounted Police
Remaining payments 1,774 1,774 1,774 1,490 1,206 14,976 22,994
Imputed interest 791 746 699 651 617 4,164 7,668
Subtotal 983 1,028 1,075 839 589 10,812 15,326
Public Services and Procurement
Department of Public Works and Government Services
Remaining payments 284,606 284,186 231,135 209,900 200,288 2,231,585 3,441,700
Imputed interest 122,457 113,334 104,884 98,265 92,411 659,127 1,190,478
Subtotal 162,149 170,852 126,251 111,635 107,877 1,572,458 2,251,222
Defence Construction (1951) Limited
Remaining payments 96 234 330
Imputed interest 8 8 16
Subtotal 88 226 314
Shared Services Canada
Remaining payments 36,343 20,677 57,020
Imputed interest 253 56 309
Subtotal 36,090 20,621 56,711
Transport
Department of Transport
Remaining payments 64,942 61,983 62,920 63,871 64,836 717,319 1,035,871
Imputed interest 41,942 37,936 37,777 37,583 37,351 356,244 548,833
Subtotal 23,000 24,047 25,143 26,288 27,485 361,075 487,038
Other ministries
Remaining payments 149 54 25 9 2 239
Imputed interest 7 2 1 1 11
Subtotal 142 52 24 8 2 228
Total 310,674 297,465 205,504 158,108 149,760 2,104,327 3,225,838
Summary
Remaining payments 494,786 463,606 358,395 302,123 286,887 3,158,851 5,064,648
Imputed interest 184,112 166,141 152,891 144,015 137,127 1,054,524 1,838,810
Net obligation 310,674 297,465 205,504 158,108 149,760 2,104,327 3,225,838

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