Enterprise Crown corporations and other government business enterprises
Public Accounts of Canada 2018 Volume I—Top of the page Navigation
- Previous page: Section 9—Loans, investments and advances as at March 31
- Section 9—Table of contents: Section 9—Loans, investments and advances as at March 31
- Next page: Portfolio investments
Loans and advances to, and investments in, enterprise Crown corporations and other government business enterprises represent the balance of financial claims held by the Government against corporations and enterprises for working capital, capital expenditures and other purposes, investments in the capital stock of corporations, and loans and advances to corporations and enterprises for re-lending.
A Crown corporation means a parent Crown corporation or a wholly-owned subsidiary; a parent Crown corporation is wholly-owned directly by the Crown; a wholly-owned subsidiary is wholly-owned by one or more parent Crown corporations directly or indirectly through any number of subsidiaries.
Enterprise Crown corporations are a type of government business enterprise and are defined as those Crown corporations which are not dependent on parliamentary appropriations and whose principal activity and source of revenue is the sale of goods and services to outside parties. These include select Crown corporations listed in Part I, all the Crown corporations listed in Part II of Schedule III of the Financial Administration Act and the Bank of Canada. Although a Crown corporation, the Canada Pension Plan Investment Board is not part of the Government reporting entity since its mandate is to manage an investment portfolio on behalf of the Canada Pension Plan which is itself excluded from the reporting entity.
There are also a number of self-sustaining government business enterprises that are not considered Crown corporations, but which are controlled by the Government and in most cases accountable to Parliament through a Minister of the Crown for the conduct of their affairs. These are referred to as "other government business enterprises" and include the various Canada Port Authorities.
Most of the enterprise Crown corporations and other government business enterprises are agents of Her Majesty for the conduct of all or part of their activities. This status is granted in one of the following ways:
- designation by Parliament, through a special act of incorporation;
- statutory authorization; or
- proclamation by the Government Corporations Operation Act.
Further information on the business and activities of all parent Crown corporations and information on all Crown corporations and other corporate interests of Canada is provided in the annual report entitled Inventory of Federal Organizations and Interests. Audited financial statements of parent Crown corporations are made available and published on their respective websites.
| April 1, 2017 | Payments and other charges | Receipts and other credits | March 31, 2018 | |
|---|---|---|---|---|
| Investments | ||||
| Investments and accumulated profits/losses, Table 9.4 | 48,062,252 | 6,206,171 | 7,993,670 | 46,274,753 |
| Loans and advancesLink to footnote 1 | ||||
| Families, Children and Social Development | ||||
| Canada Mortgage and Housing Corporation | ||||
| Housing | 1,920,524 | 3,463 | 386,052 | 1,537,935 |
| Joint projects | 442,702 | – | 34,067 | 408,635 |
| Real estate | 9,110 | – | 209 | 8,901 |
| Sewage treatment projects | 16,451 | – | 2,650 | 13,801 |
| Student housing projects | 48,164 | – | 10,326 | 37,838 |
| Subtotal | 2,436,950 | 3,463 | 433,305 | 2,007,109 |
| Finance | ||||
| Department of Finance | ||||
| Business Development Bank of Canada | 18,810,600 | 26,065,000 | 24,405,600 | 20,470,000 |
| Canada Lands Company Limited | 455,530 | 12,000 | – | 467,530 |
| Canada Mortgage and Housing Corporation | 7,374,211 | 1,893,732 | 2,587,970 | 6,679,973 |
| Farm Credit Canada | 25,683,700 | 14,781,500 | 12,456,700 | 28,008,500 |
| Subtotal | 52,324,041 | 42,752,232 | 39,450,270 | 55,626,003 |
| Total—Loans and advances | 54,760,992 | 42,755,695 | 39,883,575 | 57,633,112 |
| Less: | ||||
| Loans expected to be repaid from future appropriations | 3,353,430 | 264,492 | – | 3,088,938 |
| Unamortized discounts and premiums | 43,137 | 17,963 | 18,254 | 43,429 |
| Total | 3,396,567 | 282,455 | 18,254 | 3,132,366 |
| Total | 99,426,676 | 49,244,322 | 47,895,500 | 100,775,499 |
Table notesThe dash means that the amount is 0 or is rounded to 0. | ||||
Advances to programs
Finance—Canada Mortgage and Housing Corporation
The Corporation was incorporated, on January 1, 1946, by the Canada Mortgage and Housing Corporation Act. The Corporation's mandate, as stated in the National Housing Act, is to promote the construction, repair and modernization of housing, the improvement of housing and living conditions, housing affordability and choice, the availability of low-cost financing for housing, and the national well-being of the housing sector. Advances have been made to the Canada Mortgage and Housing Corporation to support various programs undertaken by the Corporation.
Housing
Advances made for moderate to low income housing bear interest at rates from 5.25% to 16.10% per annum, and are repayable over 1 to 50 years, with the final instalment due on March 31, 2037.
Joint projects
Advances made to undertake housing projects jointly with the provinces bear interest at rates from 5.25% to 17.96% per annum, and are repayable over 1 to 50 years, with the final instalment due on June 30, 2038.
Real estate
Advances made for the acquisition and development of real estate bear interest at rates from 10.07% to 15% per annum, and are repayable over 50 years, with the final instalment due on June 30, 2036.
Sewage treatment projects
Advances made to assist in the establishment or expansion of sewage treatment projects and the construction of trunk storm sewers bear interest at rates from 5% to 7.45% per annum, and are repayable over 20 to 50 years, with the final instalment due on March 31, 2023.
Student housing projects
Advances made for student housing projects bear interest at rates from 5.13% to 10.05% per annum, and are repayable over 20 to 50 years, with the final instalment due on April 1, 2030.
Direct lending to Crown corporations
Business Development Bank of Canada
The Business Development Bank of Canada (BDC) was established in 1974 by the Federal Business Development Bank of Canada Act and was continued under its current name by an Act of Parliament on July 13, 1995. The Corporation is a Crown corporation named in Part I of Schedule III to the Financial Administration Act, and is not subject to the requirements of the Income Tax Act.
The role of the Corporation is to promote and assist in the establishment and development of business enterprises in Canada, with specific attention to small and medium-sized businesses. The Corporation provides a wide range of lending, investment and consulting services complementary to those of commercial financial institutions. The Corporation offers Canadian companies' services tailored to meet the current needs of small and medium-sized businesses while earning an appropriate return on investment capital, which is used to further the Corporation's activities.
Pursuant to Section 19 of the Business Development Bank of Canada Act, the federal government, at the request of the Corporation, may lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.
Loans outstanding at year end bear interest at rates from 1.05% to 1.10% per annum.
Canada Lands Company Limited
Canada Lands Company Limited (originally Public Works Lands Company Limited) was incorporated under the Companies Act in 1956 and was continued under the Canada Business Corporations Act. The Corporation is a Crown corporation named in Part I of Schedule III of the Financial Administration Act. The Corporation conducts its business through Canada Lands Company CLC Limited (CLC) and Parc Downsview Park (PDP), its principal wholly-owned subsidiaries. CLC and PDP's objective is to carry out a commercially oriented and orderly disposal program of certain Government real properties and the management of certain select properties. In undertaking this objective, CLC and PDP may manage, develop and dispose of real properties, either in the capacity of owner or as agent of the Government.
CLC and PDP have acquired an interest in a number of real properties from the Government in consideration for the issuance of promissory notes, which bear no interest and are repayable from the proceeds of the sale of the properties in respect of which they were issued. The notes were discounted using the Consolidated Revenue Fund lending rate applicable to Crown corporations and recorded at their discounted value.
During the year, a new note have been issued for an amount of $12 million. An amount of $5.8 million was amortized to income. The balance in the account represents the balance of the notes receivable net of the corresponding unamortized discount.
Canada Mortgage and Housing Corporation
Pursuant to Section 21(1) of the Canada Mortgage and Housing Corporation Act, the federal government, at the request of the Corporation, may, out of the Consolidated Revenue Fund, lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.
Loans outstanding at year end bear interest at rates from 0.45% to 3.94% per annum.
Farm Credit Canada
The Farm Credit Canada was established in 1959 by the Farm Credit Canada Act as the successor to the Canadian Farm Loan Board, and is a Crown corporation named in Part I of Schedule III to the Financial Administration Act. The Corporation is not subject to the requirements of the Income Tax Act.
The Corporation's role is to enhance rural Canada by providing business and financial solutions for farm families and agribusiness. Additionally, the Corporation may deliver specific programs for the Government of Canada on a cost recovery basis.
Pursuant to Section 12(2) of the Farm Credit Canada Act, the federal government, at the request of the Corporation, may lend money to the Corporation on any terms and conditions that the Minister of Finance may fix.
Loans outstanding at year end bear interest at rates from 0.32% to 3.84% per annum.
Interest paid to the Government
Interest paid to the Government of Canada with respect to these loans in the years ended March 31, 2018 and 2017 is as follows:
(in millions of dollars)
| 2018 | 2017 | |
|---|---|---|
| Business Development Bank of Canada | 147.6 | 81.7 |
| Canada Mortgage and Housing Corporation | 402.9 | 511.0 |
| Farm Credit Canada | 221.3 | 140.9 |
| Total | 771.8 | 733.6 |
Summary financial statements of enterprise Crown corporations and other government business enterprises
Enterprise Crown corporations and other government business enterprises are categorized as being either agents or non-agents of the Crown. In some situations, agent status may be restricted to certain designated activities of a corporation.
These tables present financial information on parent enterprise Crown corporations and other government business enterprises, as well as financial information on wholly-owned subsidiaries that are considered “deemed parent Crown corporations” and are excluded from the consolidated financial statements of their parent Crown corporations.
The tables summarize the financial transactions and results of operations of each enterprise Crown corporation and other government business enterprise in accordance with its own respective accounting policies. All enterprise Crown corporations and other government business enterprises prepare their financial statements based on International Financial Reporting Standards.
For those corporations 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 9.3 and Table 9.4 present summarized financial information of enterprise Crown corporations and other government business enterprises. Balances reported under Government, Crown corporations and other entities represent those between related parties. Of note, borrowings from third parties represent amounts repayable to financial institutions and other investors. Revenues include financial assistance from the Government in respect of the current year's operations, when applicable. Equity adjustments include prior period adjustments and other miscellaneous items recorded by the corporations and enterprises. Other comprehensive income or loss comprises certain unrealized gains and losses on financial instruments and certain actuarial gains and losses related to pensions and other employee future benefits which are recognized in comprehensive income but excluded from net income. Other comprehensive income is excluded from the calculation of the Government's annual deficit. It is instead recorded directly to the Government's accumulated deficit. Upon realization of the gains and losses on financial instruments, the associated amounts are reclassified to the profit or loss of enterprise Crown corporations and other government business enterprises and then, reflected in the government's annual deficit. The actuarial gains and losses related to pensions and other employee future benefits are not reclassified. Equity transactions with the Government include dividends declared or transfers of profits to the Government, as well as equity contributions provided by the Government. Any unrealized inter-organizational gains and losses are eliminated as part of the modified equity accounting adjustment.
| Enterprise Crown corporations and other government business enterprisesLink to footnote 2 | 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 | ||||||||||
| Atlantic Pilotage Authority | 7,536 | – | 13,263 | 20,799 | 6,073 | 4,267 | – | 10,340 | 10,459 | – | – | 10,459 | 20,799 |
| Bank of Canada | 8,480,797 | 99,934,823 | 637,229 | 109,052,849 | – | 86,412,011 | 22,125,720 | 108,537,731 | 485,118 | 25,000 | 5,000 | 515,118 | 109,052,849 |
| Business Development Bank of Canada | 27,709,680 | – | 99,486 | 27,809,166 | 138,773 | 471,760 | 20,482,161 | 21,092,694 | 4,210,794 | 27,778 | 2,477,900 | 6,716,472 | 27,809,166 |
| Canada Deposit Insurance Corporation | 674,211 | 3,700,270 | 8,132 | 4,382,613 | – | 2,059,333 | 939 | 2,060,272 | 2,322,341 | – | – | 2,322,341 | 4,382,613 |
| Canada Development Investment Corporation | 301,769 | 124,266 | 195,509 | 621,544 | – | 158,164 | – | 158,164 | (negative 139,915) | 603,294 | 1 | 463,380 | 621,544 |
| Canada Lands Company Limited | 553,673 | 111,888 | 563,562 | 1,229,123 | 41,500 | 158,869 | 435,305 | 635,674 | 412,279 | 181,170 | – | 593,449 | 1,229,123 |
| Canada Mortgage and Housing Corporation | 264,388,117 | 5,479,112 | 654,821 | 270,522,050 | 233,981,237 | 9,338,086 | 10,308,436 | 253,627,759 | 16,869,281 | 25,010 | – | 16,894,291 | 270,522,050 |
| Canada Post Corporation | 3,643,862 | 1,990,394 | 3,010,924 | 8,645,180 | 996,962 | 7,883,072 | 103,258 | 8,983,292 | (negative 1,493,283) | 1,155,171 | – | (negative 338,112) | 8,645,180 |
| Export Development Canada | 67,890,203 | – | 329,279 | 68,219,482 | 55,470,314 | 2,973,526 | 2,353 | 58,446,193 | 8,440,089 | – | 1,333,200 | 9,773,289 | 68,219,482 |
| Farm Credit Canada | 35,077,126 | – | 241,798 | 35,318,924 | 833,343 | 358,449 | 28,067,363 | 29,259,155 | 5,512,044 | 547,725 | – | 6,059,769 | 35,318,924 |
| Freshwater Fish Marketing Corporation | 11,425 | – | 48,518 | 59,943 | 28,453 | 31,490 | – | 59,943 | – | – | – | – | 59,943 |
| Great Lakes Pilotage Authority | 987 | 34 | 949 | 1,970 | – | 3,948 | 178 | 4,126 | (negative 2,156) | – | – | (negative 2,156) | 1,970 |
| Halifax Port AuthorityLink to footnote 3 | 10,450 | 178 | 205,684 | 216,312 | 19,307 | 15,735 | 740 | 35,782 | 129,673 | 50,857 | – | 180,530 | 216,312 |
| Hamilton Port AuthorityLink to footnote 3 | 18,716 | – | 126,126 | 144,842 | – | 10,166 | – | 10,166 | 116,310 | 18,366 | – | 134,676 | 144,842 |
| Laurentian Pilotage Authority | 22,852 | 437 | 16,311 | 39,600 | – | 11,512 | – | 11,512 | 28,088 | – | – | 28,088 | 39,600 |
| Montreal Port AuthorityLink to footnote 3 | 59,051 | 6,997 | 363,908 | 429,956 | 16,000 | 60,812 | 1,371 | 78,183 | 117,409 | 234,364 | – | 351,773 | 429,956 |
| Pacific Pilotage Authority | 13,702 | 503 | 7,802 | 22,007 | 2,102 | 11,424 | – | 13,526 | 8,481 | – | – | 8,481 | 22,007 |
| Prince Rupert Port AuthorityLink to footnote 3 | 63,950 | – | 197,137 | 261,087 | – | 47,677 | – | 47,677 | 177,197 | 36,213 | – | 213,410 | 261,087 |
| Quebec Port AuthorityLink to footnote 3 | 14,851 | 136 | 143,321 | 158,308 | – | 11,648 | 42,918 | 54,566 | 46,480 | 57,262 | – | 103,742 | 158,308 |
| Ridley Terminals Inc. | 176,258 | – | 258,567 | 434,825 | 11,430 | 27,165 | 67,714 | 106,309 | 128,474 | 64,000 | 136,042 | 328,516 | 434,825 |
| Royal Canadian Mint | 84,614 | 39,151 | 252,758 | 376,523 | 19,508 | 218,514 | 3,417 | 241,439 | 95,084 | – | 40,000 | 135,084 | 376,523 |
| Saint John Port AuthorityLink to footnote 3 | 29,937 | – | 75,450 | 105,387 | – | 7,676 | – | 7,676 | 36,052 | 61,659 | – | 97,711 | 105,387 |
| Sept-Iles Port AuthorityLink to footnote 3 | 34,641 | 26 | 301,556 | 336,223 | 50,223 | 197,508 | – | 247,731 | 76,785 | 11,707 | – | 88,492 | 336,223 |
| Toronto Port AuthorityLink to footnote 3 | 84,842 | – | 253,705 | 338,547 | 37,796 | 80,298 | – | 118,094 | 220,453 | – | – | 220,453 | 338,547 |
| Vancouver Fraser Port AuthorityLink to footnote 3 | 261,439 | 1,175 | 1,531,651 | 1,794,265 | 103,183 | 102,114 | 2,848 | 208,145 | 1,435,861 | 150,259 | – | 1,586,120 | 1,794,265 |
| Other Canada Port AuthoritiesLink to footnote 3Link to footnote 4 | 102,523 | 9,712 | 261,728 | 373,963 | 49,058 | 40,789 | 5,746 | 95,593 | 135,300 | 143,070 | – | 278,370 | 373,963 |
| Total | 409,717,212 | 111,399,102 | 9,799,174 | 530,915,488 | 291,805,262 | 110,696,013 | 81,650,467 | 484,151,742 | 39,378,698 | 3,392,905 | 3,992,143 | 46,763,746 | 530,915,488 |
| Elimination adjustments | (negative 145,706) | (negative 318,795) | (negative 464,501) | 24,493 | 24,493 | (negative 488,994) | (negative 488,994) | (negative 464,501) | |||||
| Total | 409,717,212 | 111,253,396 | 9,480,379 | 530,450,987 | 291,805,262 | 110,696,013 | 81,674,960 | 484,176,235 | 38,889,704 | 3,392,905 | 3,992,143 | 46,274,752 | 530,450,987 |
Table notes 1The dash means that the amount is 0 or is rounded to 0.A blank cell means there is no available data. | |||||||||||||
| Enterprise Crown corporations and other government business enterprises | Revenues | Expenses | Net income (loss) |
Equity beginning of year | Equity adjustments and other | Other comprehensive income (loss) |
Equity transactions with the Government | Equity end of year | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Third parties | Government, Crown corporations and other entitiesLink to footnote 5 | Total | Third parties | Government, Crown corporations and other entities | Total | Dividends | Capital | ||||||
| Atlantic Pilotage Authority | 29,168 | – | 29,168 | 25,890 | 34 | 25,924 | 3,244 | 7,235 | – | (negative 20) | – | – | 10,459 |
| Bank of Canada | 80,493 | 1,650,375 | 1,730,868 | 533,693 | 224,580 | 758,273 | 972,595 | 498,318 | 432 | (negative 5,557) | (negative 950,670) | – | 515,118 |
| Business Development Bank of Canada | 1,537,471 | – | 1,537,471 | 617,085 | 145,382 | 762,467 | 775,004 | 5,917,500 | – | (negative 40,532) | – | 64,500 | 6,716,472 |
| Canada Deposit Insurance Corporation | 542,038 | 39,492 | 581,530 | 490,098 | 5,085 | 495,183 | 86,347 | 2,235,979 | – | 15 | – | – | 2,322,341 |
| Canada Development Investment Corporation | 188,291 | 847 | 189,138 | 106,379 | 14,023 | 120,402 | 68,736 | 485,644 | – | – | (negative 91,000) | – | 463,380 |
| Canada Lands Company Limited | 284,090 | 520 | 284,610 | 239,402 | 7,453 | 246,855 | 37,755 | 555,694 | – | – | – | – | 593,449 |
| Canada Mortgage and Housing Corporation | 7,553,617 | 2,751,289 | 10,304,906 | 7,719,172 | 860,704 | 8,579,876 | 1,725,030 | 21,406,306 | 311,965 | (negative 874,010) | (negative 5,675,000) | – | 16,894,291 |
| Canada Post Corporation | 8,093,238 | 269,471 | 8,362,709 | 8,005,873 | 192,164 | 8,198,037 | 164,672 | (negative 600,227) | (negative 15,703) | 113,146 | – | – | (negative 338,112) |
| Export Development Canada | 2,432,253 | – | 2,432,253 | 1,209,663 | (negative 3,463) | 1,206,200 | 1,226,053 | 9,091,049 | 400,000 | 25,187 | (negative 969,000) | – | 9,773,289 |
| Farm Credit Canada | 1,369,851 | – | 1,369,851 | 471,246 | 228,726 | 699,972 | 669,879 | 5,740,779 | – | (negative 42,589) | (negative 308,300) | – | 6,059,769 |
| Freshwater Fish Marketing Corporation | 74,638 | – | 74,638 | 71,016 | – | 71,016 | 3,622 | – | (negative 3,622) | – | – | – | – |
| Great Lakes Pilotage Authority | 30,464 | 26 | 30,490 | 27,516 | 1,849 | 29,365 | 1,125 | (negative 3,281) | – | – | – | – | (negative 2,156) |
| Halifax Port Authority | 41,771 | – | 41,771 | 31,281 | 1,927 | 33,208 | 8,563 | 172,886 | – | (negative 919) | – | – | 180,530 |
| Hamilton Port Authority | 26,464 | – | 26,464 | 21,304 | – | 21,304 | 5,160 | 131,139 | – | (negative 1,623) | – | – | 134,676 |
| Laurentian Pilotage Authority | 96,423 | – | 96,423 | 96,722 | – | 96,722 | (negative 299) | 28,387 | – | – | – | – | 28,088 |
| Montreal Port Authority | 114,329 | 625 | 114,954 | 89,630 | 4,710 | 94,340 | 20,614 | 331,994 | (negative 835) | – | – | – | 351,773 |
| Pacific Pilotage Authority | 86,258 | – | 86,258 | 86,799 | 190 | 86,989 | (negative 731) | 9,317 | (negative 76) | (negative 29) | – | – | 8,481 |
| Prince Rupert Port Authority | 50,858 | 13,763 | 64,621 | 36,048 | 3,140 | 39,188 | 25,433 | 189,531 | – | (negative 1,554) | – | – | 213,410 |
| Quebec Port Authority | 35,942 | 3,064 | 39,006 | 31,169 | 1,661 | 32,830 | 6,176 | 97,852 | – | (negative 286) | – | – | 103,742 |
| Ridley Terminals Inc. | 88,249 | – | 88,249 | 37,436 | 13,073 | 50,509 | 37,740 | 202,525 | 89,740 | (negative 1,489) | – | – | 328,516 |
| Royal Canadian Mint | 1,420,819 | 115,399 | 1,536,218 | 1,468,500 | 37,975 | 1,506,475 | 29,743 | 167,487 | 2,024 | 30 | (negative 64,200) | – | 135,084 |
| Saint John Port Authority | 22,143 | – | 22,143 | 17,715 | 791 | 18,506 | 3,637 | 94,074 | – | – | – | – | 97,711 |
| Sept-Iles Port Authority | 14,361 | – | 14,361 | 6,853 | 273 | 7,126 | 7,235 | 81,374 | – | (negative 117) | – | – | 88,492 |
| Toronto Port Authority | 151,190 | – | 151,190 | 55,694 | – | 55,694 | 95,496 | 122,707 | – | 2,250 | – | – | 220,453 |
| Vancouver Fraser Port Authority | 287,337 | 71 | 287,408 | 129,231 | 7,315 | 136,546 | 150,862 | 1,438,457 | – | (negative 3,199) | – | – | 1,586,120 |
| Other Canada Port Authorities | 48,663 | 317 | 48,980 | 40,565 | 473 | 41,038 | 7,942 | 271,451 | 72 | (negative 1,095) | – | – | 278,370 |
| Total | 24,700,419 | 4,845,259 | 29,545,678 | 21,665,980 | 1,748,065 | 23,414,045 | 6,131,633 | 48,674,177 | 783,997 | (negative 832,391) | (negative 8,058,170) | 64,500 | 46,763,746 |
| Elimination adjustments | (negative 611,926) | 43,471 | 79,461 | – | (negative 488,994) | ||||||||
| Total net results | 24,700,419 | 4,845,259 | 29,545,678 | 21,665,980 | 1,748,065 | 23,414,045 | 6,131,633 | 48,062,251 | 827,468 | (negative 752,930) | (negative 8,058,170) | 64,500 | 46,274,752 |
| Less equity adjustments | 827,468 | (negative 827,468) | – | ||||||||||
| Share of annual profit | 6,959,101 | 48,062,251 | – | (negative 752,930) | (negative 8,058,170) | 64,500 | 46,274,752 | ||||||
Table notes 2The dash means that the amount is 0 or is rounded to 0.A blank cell means there is no available data. The accompanying notes for Table 9.3 are an integral part of this table. | |||||||||||||
Borrowings by enterprise Crown corporations and other government business enterprises
| April 1, 2017 | Borrowings and other credits | Repayments and other charges | March 31, 2018 | |
|---|---|---|---|---|
| Agent enterprise Crown corporations | ||||
| Business Development Bank of Canada | 162,910 | (negative 690) | 23,447 | 138,773 |
| Canada Mortgage and Housing Corporation | 225,306,336 | 39,671,412 | 30,996,511 | 233,981,237 |
| Canada Post Corporation | 996,776 | 186 | – | 996,962 |
| Export Development Canada | 49,226,032 | 46,937,834 | 40,693,552 | 55,470,314 |
| Farm Credit Canada | 815,244 | 5,403,257 | 5,385,158 | 833,343 |
| Freshwater Fish Marketing Corporation | 25,115 | 28,453 | 25,115 | 28,453 |
| Royal Canadian Mint | 27,043 | – | 7,535 | 19,508 |
| Total—Agent enterprise Crown corporations | 276,559,456 | 92,040,452 | 77,131,318 | 291,468,590 |
| Non-agent enterprise Crown corporations and other government business enterprises | ||||
| Atlantic Pilotage Authority | 3,671 | 3,000 | 598 | 6,073 |
| Canada Lands Company LimitedLink to footnote 6 | 33,000 | 9,400 | 900 | 41,500 |
| Halifax Port AuthorityLink to footnote 7 | 35,724 | 1,767 | 18,184 | 19,307 |
| Montreal Port AuthorityLink to footnote 7 | – | 16,000 | – | 16,000 |
| Pacific Pilotage Authority | 2,478 | – | 376 | 2,102 |
| Prince Rupert Port AuthorityLink to footnote 7 | 1,328 | – | 1,328 | – |
| Quebec Port AuthorityLink to footnote 7 | 5,199 | – | 5,199 | – |
| Ridley Terminals Inc. | 18,774 | – | 7,344 | 11,430 |
| Sept-Iles Port AuthorityLink to footnote 7 | 65,089 | – | 14,866 | 50,223 |
| Toronto Port AuthorityLink to footnote 7 | 42,914 | – | 5,118 | 37,796 |
| Vancouver Fraser Port AuthorityLink to footnote 7 | 103,212 | 5,975 | 6,004 | 103,183 |
| Other Canada Port AuthoritiesLink to footnote 7 | 31,910 | 21,931 | 4,783 | 49,058 |
| Total—Non-agent enterprise Crown corporations and other government business enterprises | 343,299 | 58,073 | 64,700 | 336,672 |
| Total | 276,902,755 | 92,098,525 | 77,196,018 | 291,805,262 |
| Borrowings expected to be repaid by enterprise Crown corporations and other government business enterprises | 276,902,755 | – | – | 291,805,262 |
| Allowance for borrowings of enterprise Crown corporations and other government business enterprises expected to be repaid by the Government and reported on the Consolidated Statement of Financial Position | – | – | – | – |
Table notes 3The dash means that the amount is 0 or is rounded to 0. | ||||
In accordance with section 54 of the Financial Administration Act, the payment of all money borrowed by agent enterprise Crown corporations and interest thereon is a charge on and payable out of the Consolidated Revenue Fund. Such borrowings therefore constitute obligations of the Government and are recorded as such net of borrowings expected to be repaid directly by these corporations.
Borrowings by non-agent enterprise Crown corporations and other government business enterprises are not on behalf of Her Majesty, but may, at times, be guaranteed by the Government.
Maturity and currency of borrowings by enterprise Crown corporations and other government business enterprises
| Year of maturity | Agent | Non-agent | Total |
|---|---|---|---|
| 2018 | 60,233,124 | 87,441 | 60,320,565 |
| 2019 | 49,205,859 | 18,154 | 49,224,013 |
| 2020 | 38,858,330 | 130,625 | 38,988,955 |
| 2021 | 50,905,437 | 20,947 | 50,926,384 |
| 2022 | 44,291,024 | 10,113 | 44,301,137 |
| Subsequent years | 47,974,816 | 69,392 | 48,044,208 |
| Total | 291,468,590 | 336,672 | 291,805,262Link to footnote 8 |
Table notes 4 | |||
Contingent liabilities of enterprise Crown corporations and other government business enterprises
The table below presents disclosed contingent liabilities of enterprise Crown corporations and other government business enterprises, which are not included in the Government of Canada's provision for contingent liabilities.
| 2018 | |
|---|---|
| Loan guarantees | 2,706,848 |
| Letters of credit | 167,509 |
| Performance guarantees and callable shares | 93,179 |
| Claims and pending and threatened litigation | 15,138 |
| Total | 2,982,674 |
Contractual obligations of enterprise Crown corporations and other government business enterprises
A contractual obligation represents a legal obligation to third party organizations or individuals as a result of a contract.
| Transfer payment agreements | Loans | Capital Expenditures | Operating leases and other | Total | |
|---|---|---|---|---|---|
| Bank of Canada | – | – | – | 150,612 | 150,612 |
| Business Development Bank of Canada | – | 3,977,022 | – | 314,937 | 4,291,959 |
| Canada Deposit Insurance Corporation | – | – | – | 16,350 | 16,350 |
| Canada Development Investment Corporation | – | – | 27,148 | 51,540 | 78,688 |
| Canada Lands Company Limited | – | – | 42,600 | 7,845 | 50,445 |
| Canada Mortgage and Housing Corporation | 11,247,938 | 458,592 | – | 389,000 | 12,095,530 |
| Canada Post Corporation | – | – | – | 837,560 | 837,560 |
| Export Development Canada | – | 25,616,306 | – | 152,342 | 25,768,648 |
| Farm Credit Canada | – | 6,203,500 | – | 293,632 | 6,497,132 |
| Great Lakes Pilotage Authority | – | – | – | 954 | 954 |
| Halifax Port Authority | – | – | 1,879 | – | 1,879 |
| Laurentian Pilotage Authority | – | – | 1,125 | 10,651 | 11,776 |
| Pacific Pilotage Authority | – | – | – | 1,638 | 1,638 |
| Prince Rupert Port Authority | – | – | 37,879 | – | 37,879 |
| Ridley Terminals Inc | – | – | – | 15,033,964 | 15,033,964 |
| Royal Canadian Mint | – | – | 2,732 | 72,823 | 75,555 |
| Vancouver Fraser Port Authority | – | – | 28,135 | 15,117 | 43,252 |
| Total | 11,247,938 | 36,255,420 | 141,498 | 17,348,965 | 64,993,821 |
|
The dash means that the amount is 0 or is rounded to 0. | |||||
Financial assistance to enterprise Crown corporations and other government business enterprises
Table 9.9 presents charges to appropriations or authorities approved by Parliament. It should be read in conjunction with Table 9.4.
| Financial assistance | |
|---|---|
| Canada Mortgage and Housing Corporation | 2,689,240 |
| Canada Post Corporation | 22,210 |
| Total | 2,711,450 |