Ten-year comparative financial information

Public Accounts of Canada 2023 Volume I—Top of the page Navigation

The following tables provide a ten-year comparison of financial information based on the accounting policies explained in Note 1 to the audited consolidated financial statements in Section 2 of this volume.

Table 1.1
Government of Canada
Consolidated Statement of Operations and Accumulated Operating Deficit—detailed
(in millions of dollars)
  Year ended March 31Link to table note 3Link to table note 4Link to table note 5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1Link to table note 2
Revenues
Tax revenues
Income tax revenues
Personal 130,811 135,743 144,897 143,680 153,619 163,881 167,576 174,755 198,385 207,872
Corporate 36,587 39,447 41,444 42,216 47,805 50,368 50,060 54,112 78,815 93,945
Non-resident 6,404 6,216 6,505 7,071 7,845 9,370 9,476 8,107 10,789 13,187
Total 173,802 181,406 192,846 192,967 209,269 223,619 227,112 236,974 287,989 315,004
Other taxes and duties
Goods and services tax 30,998 31,349 32,952 34,368 36,751 38,221 37,386 32,415 46,165 45,962
Energy taxes 5,486 5,528 5,565 5,634 5,739 5,802 5,683 4,894 5,355 5,657
Customs import duties 4,239 4,581 5,372 5,478 5,416 6,881 4,853 4,254 5,237 6,057
Other excise taxes and duties 5,413 5,724 5,916 5,868 5,913 6,323 5,958 5,391 5,923 6,548
Total 46,136 47,182 49,805 51,348 53,819 57,227 53,880 46,954 62,680 64,224
Total tax revenues 219,938 228,588 242,651 244,315 263,088 280,846 280,992 283,928 350,669 379,228
Employment insurance premiums 21,766 22,564 23,070 22,125 21,140 22,295 22,219 22,392 23,856 26,914
Proceeds from the pollution pricing framework – – – – – – 2,655 4,380 6,341 8,041
Other revenues
Enterprise Crown corporations and other government business enterprises 7,966 9,306 7,916 5,655 7,731 7,101 5,059 (negative 10,542) 12,804 6,452
Net foreign exchange revenues 1,682 1,355 2,322 2,133 1,473 1,667 2,410 2,173 873 1,261
Other 18,660 18,092 16,649 16,640 17,784 20,309 20,796 14,115 18,734 25,919
Total other revenues 28,308 28,753 26,887 24,428 26,988 29,077 28,265 5,746 32,411 33,632
Total revenues 270,012 279,905 292,608 290,868 311,216 332,218 334,131 316,446 413,277 447,815
Expenses
Program expenses
Transfer payments
Old age security benefits, guaranteed income supplement and spouse's allowance 41,786 44,103 45,461 48,162 50,644 53,366 56,227 58,529 60,774 69,392
Major transfer payments to other levels of government
Canada Health Transfer 30,543 32,114 34,025 36,057 37,124 38,568 40,872 45,880 45,133 47,141
Canada Social Transfer 12,215 12,582 12,959 13,348 13,748 14,161 14,585 15,023 15,474 15,938
Canada-Wide Early Learning and Child Care – – – – – – – – 2,948 4,489
Fiscal arrangements 15,610 16,271 16,893 17,145 17,575 17,929 18,030 19,299 19,121 19,731
Other major transfers 2,107 2,142 1,973 2,102 2,072 5,267 5,688 26,451 5,710 3,485
Subtotal 60,475 63,109 65,850 68,652 70,519 75,925 79,175 106,653 88,386 90,784
Employment insurance and support measures 17,300 18,052 19,419 20,711 19,715 18,888 21,750 58,356 38,923 21,836
Children's benefits 13,136 14,303 18,025 22,065 23,432 23,882 24,344 27,370 26,226 24,553
COVID-19 income support for workers – – – – – – 4,739 55,832 15,582 (negative 3,544)
Canada emergency wage subsidy – – – – – – – 80,166 22,291 (negative 257)
Proceeds from the pollution pricing framework returned – – – – – 664 2,636 4,566 3,814 6,996
Other transfer payments 36,698 35,126 34,874 41,580 47,138 51,753 54,405 97,961 88,478 99,199
Total transfer payments 169,395 174,693 183,629 201,170 211,448 224,478 243,276 489,433 344,474 308,959
Other expenses, excluding net actuarial losses 64,277 73,971 79,939 77,519 86,488 90,077 95,191 119,089 124,445 129,596
Total program expenses, excluding net actuarial losses 233,672 248,664 263,568 278,689 297,936 314,555 338,467 608,522 468,919 438,555
Public debt charges 24,729 24,207 21,837 21,232 21,889 23,266 24,447 20,358 24,487 34,955
Total expenses, excluding net actuarial losses 258,401 272,871 285,405 299,921 319,825 337,821 362,914 628,880 493,406 473,510
Annual operating deficit before net actuarial losses 11,611 7,034 7,203 (negative 9,053) (negative 8,609) (negative 5,603) (negative 28,783) (negative 312,434) (negative 80,129) (negative 25,695)
Net actuarial losses (negative 19,661) (negative 7,584) (negative 10,064) (negative 9,904) (negative 10,352) (negative 8,361) (negative 10,609) (negative 15,295) (negative 10,186) (negative 9,627)
Annual operating deficit (negative 8,050) (negative 550) (negative 2,861) (negative 18,957) (negative 18,961) (negative 13,964) (negative 39,392) (negative 327,729) (negative 90,315) (negative 35,322)
Accumulated operating deficit at beginning of year—as previously (adjusted) (negative 609,391) (negative 611,881) (negative 612,330) (negative 615,986) (negative 631,899) (negative 671,254) (negative 685,450) (negative 721,360) (negative 1,048,746) (negative 1,148,296)
Accounting change and restatement Public sector pensions (negative 11,219) (negative 14,119) (negative 16,580) (negative 18,454) (negative 19,641) – – – – –
Asset retirement obligations – – – – – – – – (negative 5,379) –
Other comprehensive income (loss) 2,660 (negative 2,360) (negative 2,669) 1,857 (negative 753) (negative 232) 3,482 343 4,465 –
Accumulated operating deficit at end of year (negative 626,000) (negative 628,910) (negative 634,440) (negative 651,540) (negative 671,254) (negative 685,450) (negative 721,360) (negative 1,048,746) (negative 1,139,975) (negative 1,183,618)

Table 1.2
Government of Canada
Consolidated Statement of Financial Position—detailed
(in millions of dollars)
  As at March 31Link to table note 3Link to table note 4Link to table note 5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1Link to table note 2
Liabilities
Accounts payable and accrued liabilities
Amounts payable related to tax 52,600 56,198 53,697 55,077 61,876 65,200 60,186 71,516 78,463 84,747
Other accounts payable and accrued liabilities 27,561 28,384 31,113 30,130 38,740 43,678 49,875 62,358 87,852 57,771
Provision for contingent liabilities 11,135 11,757 12,562 16,511 23,030 26,447 24,928 44,815 53,436 75,999
Environmental liabilities and asset retirement obligations 11,143 12,296 13,282 12,599 12,291 13,192 14,646 14,484 23,886 23,134
Deferred revenue 4,147 8,161 9,684 9,066 8,220 7,500 10,522 10,424 18,892 17,789
Total accounts payable and accrued liabilities 106,586 116,796 120,338 123,383 144,157 156,017 160,157 203,597 262,529 259,440
Interest-bearing debt
Unmatured debt
Payable in Canadian currency
Marketable bonds 481,035 496,463 513,016 545,382 582,501 576,128 603,639 889,137 1,043,240 1,044,997
Treasury bills 152,530 135,361 137,894 136,464 110,264 133,555 151,285 218,664 186,877 198,899
Retail debt 6,327 5,660 5,076 4,533 2,586 1,237 497 299 – –
Subtotal 639,892 637,484 655,986 686,379 695,351 710,920 755,421 1,108,100 1,230,117 1,243,896
Payable in foreign currencies 16,066 20,277 22,498 17,626 16,089 16,068 15,982 15,469 14,473 16,034
Obligation related to capital leases 3,603 3,710 3,477 3,226 3,203 2,893 2,913 2,708 2,786 2,546
Obligation under public-private partnership 1,179 1,005 1,570 2,199 2,393 3,511 2,590 2,531 2,581 2,564
Total unmatured debt 660,740 662,476 683,531 709,430 717,036 733,392 776,906 1,128,808 1,249,957 1,265,040
Pensions and other future benefits
Public sector pensions 167,281 169,244 170,681 171,447 170,914 168,782 168,596 168,761 167,666 166,425
Other employee and veteran future benefits 71,959 76,140 85,681 93,568 104,793 113,862 126,378 144,186 159,705 177,949
Total pensions and other future benefits 239,240 245,384 256,362 265,015 275,707 282,644 294,974 312,947 327,371 344,374
Canada Pension Plan Account 140 212 35 106 32 163 279 139 101 306
Other liabilities 5,774 5,790 5,567 5,583 5,638 5,742 5,772 6,572 7,606 7,033
Total interest-bearing debt 905,894 913,862 945,495 980,134 998,413 1,021,941 1,077,931 1,448,466 1,585,035 1,616,753
Foreign exchange accounts liabilities 17,651 19,425 29,288 28,888 29,914 28,507 28,660 24,797 42,252 44,151
Derivatives 3,180 7,716 9,232 9,419 8,786 8,265 11,331 3,245 2,471 4,689
Total liabilities 1,033,311 1,057,799 1,104,353 1,141,824 1,181,270 1,214,730 1,278,079 1,680,105 1,892,287 1,925,033
Financial assets
Cash and accounts receivable
Cash and cash equivalents 31,429 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006
Taxes receivable 92,489 98,499 105,848 110,514 123,035 127,561 121,098 142,023 167,588 180,982
Other accounts receivable 3,706 3,031 10,139 10,316 14,380 11,845 15,375 18,072 11,642 13,532
Total cash and accounts receivable 127,624 136,529 154,557 157,330 172,057 177,041 173,715 224,196 280,052 243,520
Foreign exchange accounts
International reserves held in the Exchange Fund Account 77,365 91,961 101,379 106,668 105,430 107,200 112,017 97,589 127,099 148,866
International Monetary Fund—Subscriptions 10,883 11,129 20,170 19,892 20,647 20,449 21,178 19,633 19,052 20,043
International Monetary Fund—Loans 1,665 1,353 1,278 1,125 775 546 368 197 132 67
International Monetary Fund—Resilience and Sustainability Trust – – – – – – – – – 414
Total foreign exchange accounts 89,913 104,443 122,827 127,685 126,852 128,195 133,563 117,419 146,283 169,390
Derivatives 768 1,170 764 1,649 979 1,052 810 3,067 4,974 3,260
Loans, investments and advances
Enterprise Crown corporations and other government business enterprises 94,815 89,375 91,116 99,427 100,775 108,169 125,108 119,994 143,717 151,051
Other loans, investments and advances 22,820 24,306 24,841 24,579 25,596 25,743 27,394 59,284 63,314 62,059
Total loans, investments and advances 117,635 113,681 115,957 124,006 126,371 133,912 152,502 179,278 207,031 213,110
Public sector pension assets 938 1,263 1,639 1,900 2,124 2,406 4,598 6,320 9,203 12,996
Total financial assets 336,878 357,086 395,744 412,570 428,383 442,606 465,188 530,280 647,543 642,276
Net Debt (negative 696,433) (negative 700,713) (negative 708,609) (negative 729,254) (negative 752,887) (negative 772,124) (negative 812,891) (negative 1,149,825) (negative 1,244,744) (negative 1,282,757)
Non-financial assets
Tangible capital assets 61,942 63,347 65,838 69,676 73,835 78,942 83,682 87,583 92,785 97,337
Inventories 7,316 7,250 7,221 6,842 6,679 6,601 6,171 9,764 9,026 9,405
Prepaid expenses 1,175 1,206 1,110 1,196 1,119 1,131 1,678 3,732 2,958 3,002
Total non-financial assets 70,433 71,803 74,169 77,714 81,633 86,674 91,531 101,079 104,769 109,744
Accumulated deficit (negative 626,000) (negative 628,910) (negative 634,440) (negative 651,540) (negative 671,254) (negative 685,450) (negative 721,360) (negative 1,048,746) (negative 1,139,975) (negative 1,173,013)
Accumulated deficit is comprised of:
Accumulated operating deficit (negative 626,000) (negative 628,910) (negative 634,440) (negative 651,540) (negative 671,254) (negative 685,450) (negative 721,360) (negative 1,048,746) (negative 1,139,975) (negative 1,183,618)
Accumulated remeasurement gains (losses)                   10,605
Total (negative 626,000) (negative 628,910) (negative 634,440) (negative 651,540) (negative 671,254) (negative 685,450) (negative 721,360) (negative 1,048,746) (negative 1,139,975) (negative 1,173,013)

Table 1.3
Government of Canada
Consolidated Statement of Change in Net Debt—detailed
(in millions of dollars)
  Year ended March 31Link to table note 3Link to table note 4Link to table note 5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1Link to table note 2
Net debt at beginning of year—as previously reported (negative 671,363) (negative 682,314) (negative 686,959) (negative 693,751) (negative 714,457) (negative 752,887) (negative 772,124) (negative 812,891) (negative 1,149,825) (negative 1,247,307)
Unamortized premiums and discounts on the buy-back of bonds (negative 5,387) – – – – – – – – –
Loans expected to be repaid from future appropriations (negative 1,563) – – – – – – – – –
Public sector pensions (negative 11,219) (negative 14,119) (negative 16,580) (negative 18,454) (negative 19,641) – – – – –
Change in revenue recognition criteria – – 2,826 3,596 4,844 – – – – –
Asset retirement obligations – – – – – – – – (negative 6,328) –
Net debt at beginning of year—as restated (negative 689,532) (negative 696,433) (negative 700,713) (negative 708,609) (negative 729,254) (negative 752,887) (negative 772,124) (negative 812,891) (negative 1,156,153) (negative 1,247,307)
Change in net debt during the year
Annual Operating deficit (negative 8,050) (negative 550) (negative 2,861) (negative 18,957) (negative 18,961) (negative 13,964) (negative 39,392) (negative 327,729) (negative 90,315) (negative 35,322)
Change due to tangible capital assets
Acquisition of tangible capital assets (negative 7,129) (negative 7,204) (negative 8,015) (negative 8,547) (negative 9,793) (negative 11,134) (negative 10,286) (negative 10,127) (negative 9,588) (negative 10,703)
Amortization of tangible capital assets 4,865 5,090 5,049 5,168 5,261 5,643 5,790 5,969 5,514 5,644
Proceeds from disposal of tangible capital assets 804 855 610 373 236 433 41 15 28 26
Net loss (gain) on disposal of tangible capital assets, including adjustments (negative 241) (negative 146) (negative 135) (negative 832) 137 (negative 49) (negative 285) 242 (negative 207) 481
Total change due to tangible capital assets (negative 1,701) (negative 1,405) (negative 2,491) (negative 3,838) (negative 4,159) (negative 5,107) (negative 4,740) (negative 3,901) (negative 4,253) (negative 4,552)
Change due to inventories 137 66 29 379 163 78 430 (negative 3,593) 738 (negative 379)
Change due to prepaid expenses 53 (negative 31) 96 (negative 86) 77 (negative 12) (negative 547) (negative 2,054) 774 (negative 44)
Increase in net debt excluding remeasurement gains and (losses) (negative 9,561) (negative 1,920) (negative 5,227) (negative 22,502) (negative 22,880) (negative 19,005) (negative 44,249) (negative 337,277) (negative 93,056) (negative 40,297)
Net remeasurement gains (losses) – – – – – – – – – 4,847
Other comprehensive income (loss) 2,660 (negative 2,360) (negative 2,669) 1,857 (negative 753) (negative 232) 3,482 343 4,465 –
Net increase in net debt (negative 6,901) (negative 4,280) (negative 7,896) (negative 20,645) (negative 23,633) (negative 19,237) (negative 40,767) (negative 336,934) (negative 88,591) (negative 35,450)
Net debt at end of year (negative 696,433) (negative 700,713) (negative 708,609) (negative 729,254) (negative 752,887) (negative 772,124) (negative 812,891) (negative 1,149,825) (negative 1,244,744) (negative 1,282,757)

Table 1.4
Government of Canada
Consolidated Statement of Cash Flow—detailed
(in millions of dollars)
  Year ended March 31Link to table note 3Link to table note 4Link to table note 5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1Link to table note 2
Operating activities
Annual Operating deficit (negative 8,050) (negative 550) (negative 2,861) (negative 18,957) (negative 18,961) (negative 13,964) (negative 39,392) (negative 327,729) (negative 90,315) (negative 35,322)
Non-cash items
Share of annual (profit) loss in enterprise Crown corporations and other government business enterprises (negative 5,945) (negative 8,365) (negative 7,316) (negative 4,920) (negative 6,959) (negative 5,920) (negative 3,588) 11,638 (negative 11,535) (negative 3,878)
Effective interest on debt 2,792 2,261 2,374 1,936 1,999 3,044 4,649 1,559 3,416 9,329
Provision for valuation on other loans, investments and advances 1,798 1,056 1,034 869 (negative 109) 2,080 425 17,175 2,563 4,879
Amortization of tangible capital assets 4,865 5,090 5,049 5,168 5,261 5,643 5,790 5,969 5,514 5,644
Net (gain) loss on disposal and write-offs of tangible capital assets, including adjustments (negative 241) (negative 146) (negative 135) (negative 832) 137 (negative 49) (negative 285) 242 (negative 207) 481
Net exchange gain (loss) on derivatives 5,745 4,343 1,722 (negative 627) 71 (negative 561) 3,318 (negative 10,142) (negative 2,696) 5,406
Pensions and other future benefit and interest expenses 24,549 21,817 26,491 25,884 29,588 25,662 28,954 35,152 32,127 33,720
Provision for doubtful accounts 3,921 4,315 4,325 2,566 2,323 4,024 4,403 6,257 5,571 6,249
Net losses on write-offs and write-down of inventory and prepaid expenses 115 327 698 370 613 400 307 486 2,236 1,524
Net exchange gain (loss) on foreign exchange accounts (negative 6,720) (negative 6,653) (negative 2,471) 214 (negative 771) (negative 589) (negative 5,298) 7,199 3,450 (negative 6,345)
Change in taxes receivable (negative 4,125) (negative 9,920) (negative 11,182) (negative 7,425) (negative 15,846) (negative 8,292) 2,198 (negative 26,049) (negative 30,653) (negative 18,162)
Pension and other future benefit payments (negative 16,434) (negative 15,998) (negative 15,889) (negative 17,492) (negative 19,120) (negative 19,007) (negative 18,816) (negative 18,901) (negative 20,586) (negative 20,510)
Net change in foreign exchange accounts assets (negative 7,066) (negative 8,860) (negative 15,691) (negative 5,200) 2,873 (negative 859) 610 5,564 (negative 13,569) (negative 13,859)
Net change in foreign exchange accounts liabilities (negative 97) 2,114 9,493 (negative 394) 882 (negative 1,400) (negative 682) (negative 1,526) (negative 1,173) (negative 638)
Change in accounts payable and accrued liabilities (negative 6,853) 9,858 3,488 2,824 20,849 11,908 4,126 43,564 52,641 (negative 3,221)
Net change in cash collateral – – (negative 6,557) (negative 349) (negative 1,841) 1,622 (negative 2,825) 9,286 1,802 (negative 2,623)
Net change in other accounts (negative 3,067) (negative 824) (negative 3,068) (negative 720) (negative 516) 1,118 1,036 (negative 9,517) (negative 3,340) (negative 4,984)
Cash (used) provided by operating activities (negative 14,813) (negative 135) (negative 10,496) (negative 17,085) 473 4,860 (negative 15,070) (negative 249,773) (negative 64,754) (negative 42,310)
Capital investment activities                    
Acquisition of tangible capital assets (negative 7,129) (negative 6,804) (negative 7,379) (negative 7,834) (negative 9,220) (negative 10,010) (negative 9,598) (negative 10,030) (negative 8,886) (negative 10,484)
Proceeds from disposal of tangible capital assets 804 855 610 373 236 433 41 15 28 26
Cash used by capital investment activities (negative 6,325) (negative 5,949) (negative 6,769) (negative 7,461) (negative 8,984) (negative 9,577) (negative 9,557) (negative 10,015) (negative 8,858) (negative 10,458)
Investing activities
Enterprise Crown corporations and other government business enterprises
Dividends received and other equity adjustments 5,165 3,514 4,975 2,195 7,993 6,302 1,992 (negative 13,989) 13,187 11,505
Issuance of loans and advances (negative 70,328) (negative 79,905) (negative 54,542) (negative 52,213) (negative 42,756) (negative 48,889) (negative 54,334) (negative 48,985) (negative 67,331) (negative 64,071)
Repayment of loans and advances 110,259 88,168 52,699 48,703 39,884 41,086 42,648 47,837 54,205 52,058
Issuance of other loans, investments and advances (negative 5,145) (negative 7,481) (negative 7,601) (negative 5,978) (negative 7,483) (negative 7,446) (negative 8,158) (negative 54,548) (negative 14,316) (negative 13,602)
Repayment of other loans, investments and advances 4,402 4,991 5,383 4,708 3,120 4,555 4,699 5,010 7,693 11,044
Cash (used) provided by investing activities 44,353 9,287 914 (negative 2,585) 758 (negative 4,392) (negative 13,153) (negative 64,675) (negative 6,562) (negative 3,066)
Total cash (used) generated before financing activities 23,215 3,203 (negative 16,351) (negative 27,131) (negative 7,753) (negative 9,109) (negative 37,780) (negative 324,463) (negative 80,174) (negative 55,834)
Financing activities
Issuance of Canadian currency borrowings 512,009 468,021 452,850 507,483 441,307 437,135 468,722 1,048,574 710,292 587,867
Repayment of Canadian currency borrowings (negative 536,364) (negative 471,891) (negative 435,143) (negative 477,549) (negative 433,801) (negative 424,926) (negative 430,279) (negative 698,130) (negative 592,308) (negative 584,412)
Issuance of foreign currency borrowings 12,011 16,961 26,817 21,702 15,847 19,631 17,821 34,185 31,377 23,769
Repayment of foreign currency borrowings (negative 6,783) (negative 12,724) (negative 24,602) (negative 26,575) (negative 17,458) (negative 19,738) (negative 18,877) (negative 33,307) (negative 32,466) (negative 23,206)
Cash provided (used) by financing activities (negative 19,127) 367 19,922 25,061 5,895 12,102 37,387 351,322 116,895 4,018
Net increase (decrease) in cash and cash equivalents 4,088 3,570 3,571 (negative 2,070) (negative 1,858) 2,993 (negative 393) 26,859 36,721 (negative 51,816)
Cash and cash equivalents at beginning of year 27,341 31,429 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822
Cash and cash equivalents at end of year 31,429 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006

Table 1.5
Government of Canada
Consolidated Statement of Non-Budgetary Transactions and of Non‑Financial Assets—detailed
(in millions of dollars)
  Year ended March 31Link to table note 3Link to table note 4Link to table note 5
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1Link to table note 2
Loans, investments and advances
Enterprise Crown corporations and other government business enterprises
Loans and advances
Canada Mortgage and Housing Corporation 41,951 10,465 177 720 1,124 592 (negative 6,282) (negative 907) (negative 2,024) (negative 2,510)
Business Development Bank of Canada (negative 1,106) (negative 1,356) (negative 1,266) (negative 1,869) (negative 1,659) (negative 1,765) (negative 1,170) 5,179 (negative 1,848) (negative 6,793)
Farm Credit Canada (negative 855) (negative 658) (negative 748) (negative 2,245) (negative 2,318) (negative 1,850) (negative 2,794) (negative 1,699) (negative 3,106) (negative 2,821)
Canadian Development Investment Corporation – – – – – (negative 4,790) (negative 1,465) (negative 3,725) (negative 6,290) 138
Other (negative 60) (negative 167) (negative 11) (negative 117) (negative 18) 9 17 (negative 12) 154 (negative 26)
Subtotal 39,930 8,284 (negative 1,848) (negative 3,511) (negative 2,871) (negative 7,804) (negative 11,694) (negative 1,164) (negative 13,114) (negative 12,012)
Investments
Share of annual loss (profit) (negative 5,945) (negative 8,365) (negative 7,316) (negative 4,920) (negative 6,959) (negative 5,920) (negative 3,588) 11,638 (negative 11,535) (negative 3,878)
Other comprehensive (income) loss (negative 2,660) 2,360 2,669 (negative 1,857) 753 232 (negative 3,482) (negative 343) (negative 4,465) (negative 1,628)
Dividends 5,215 2,341 4,002 2,320 8,058 6,427 3,618 13,592 6,050 1,695
Capital (negative 50) 1,030 973 (negative 125) (negative 65) (negative 125) (negative 1,816) (negative 18,470) (negative 435) 8,717
Transition adjustment and other – 143 – – – – 190 (negative 24) 2 (negative 27)
Subtotal (negative 3,440) (negative 2,491) 328 (negative 4,582) 1,787 614 (negative 5,078) 6,393 (negative 10,383) 4,879
Total 36,490 5,793 (negative 1,520) (negative 8,093) (negative 1,084) (negative 7,190) (negative 16,772) 5,229 (negative 23,497) (negative 7,133)
Less:
Loans expected to be repaid from future appropriations (negative 480) 353 221 218 264 204 167 115 225 201
Total 36,970 5,440 (negative 1,741) (negative 8,311) (negative 1,348) (negative 7,394) (negative 16,939) 5,114 (negative 23,722) (negative 7,334)
Other loans, investments and advances
Portfolio investments 157 119 351 286 1,235 (negative 616) (negative 385) (negative 165) 390 (negative 166)
Capital subscriptions - International organizations – – – – (negative 257) 257 – – – –
Loans and advances
Canada Emergency Business Account – – – – – – – (negative 28,789) 344 3,864
Canada Student Loans and Canada Apprentice Loans (negative 578) (negative 1,021) (negative 694) (negative 504) (negative 913) (negative 1,156) (negative 637) (negative 1,120) (negative 115) (negative 510)
Unconditionally repayable contributions (negative 156) (negative 170) (negative 1,177) 47 (negative 139) (negative 147) (negative 389) (negative 1,619) (negative 1,098) (negative 948)
Other loans and advances 891 (negative 414) 985 433 (negative 943) 1,515 (negative 240) (negative 197) (negative 3,550) (negative 984)
Total loans and advances 157 (negative 1,605) (negative 886) (negative 24) (negative 1,995) 212 (negative 1,266) (negative 31,725) (negative 4,419) 1,422
Total 314 (negative 1,486) (negative 535) 262 (negative 1,017) (negative 147) (negative 1,651) (negative 31,890) (negative 4,029) 1,256
Total loans, investments and advances 37,284 3,954 (negative 2,276) (negative 8,049) (negative 2,365) (negative 7,541) (negative 18,590) (negative 26,776) (negative 27,751) (negative 6,078)
Pensions and other future benefits
Public sector pensions 3,457 1,638 1,061 505 (negative 757) (negative 2,414) (negative 2,378) (negative 1,557) (negative 3,979) (negative 5,034)
Other employee and veteran future benefits 4,658 4,181 9,541 7,887 11,225 9,069 12,516 17,808 15,519 18,244
Total pensions and other future benefits 8,115 5,819 10,602 8,392 10,468 6,655 10,138 16,251 11,540 13,210
Other liabilities
Canada Pension Plan Account 72 72 (negative 177) 71 (negative 74) 131 115 (negative 139) (negative 38) 204
Other liabilities (negative 204) 16 (negative 223) 16 55 104 31 800 1,034 (negative 573)
Total other liabilities (negative 132) 88 (negative 400) 87 (negative 19) 235 146 661 996 (negative 369)
Non-financial assets
Tangible capital assets (negative 1,701) (negative 1,405) (negative 2,491) (negative 3,838) (negative 4,159) (negative 5,107) (negative 4,740) (negative 3,901) (negative 5,202) (negative 4,552)
Inventories 137 66 29 379 163 78 430 (negative 3,593) 738 (negative 379)
Prepaid expenses 53 (negative 31) 96 (negative 86) 77 (negative 12) (negative 547) (negative 2,054) 774 (negative 44)
Total non-financial assets (negative 1,511) (negative 1,370) (negative 2,366) (negative 3,545) (negative 3,919) (negative 5,041) (negative 4,857) (negative 9,548) (negative 3,690) (negative 4,975)
Other transactions
Taxes receivable (negative 374) (negative 6,010) (negative 7,349) (negative 4,666) (negative 12,521) (negative 4,526) 6,463 (negative 20,925) (negative 25,565) (negative 13,394)
Other accounts receivable (negative 119) 675 (negative 7,108) (negative 177) (negative 4,064) 2,535 (negative 3,530) (negative 2,697) 6,430 (negative 1,890)
Provincial, Territorial and Indigenous Tax Agreements Account (negative 1,584) 951 2,780 (negative 1,942) 5,034 (negative 351) (negative 4,710) 7,691 16,140 (negative 20,942)
Amounts payable related to tax (negative 2,277) 3,598 (negative 2,501) 1,380 6,799 3,324 (negative 5,014) 11,330 6,947 6,285
Other liabilities (negative 2,977) 5,661 3,262 3,607 8,941 8,888 13,863 24,419 35,845 11,568
Total other transactions (negative 7,331) 4,875 (negative 10,916) (negative 1,798) 4,189 9,870 7,072 19,818 39,797 (negative 18,373)
Total non-budgetary transactions and non-financial assets 36,425 13,366 (negative 5,356) (negative 4,913) 8,354 4,178 (negative 6,091) 406 20,892 (negative 16,585)

Table 1.6
Government of Canada
Consolidated Statement of Foreign Exchange, Unmatured Debt and Cash Transactions—detailed
(in millions of dollars)
  Year ended March 31Link to table note 2
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Link to table note 1
Foreign exchange accounts
Assets
International reserves held in the Exchange Fund Account (negative 13,984) (negative 14,596) (negative 9,418) (negative 5,289) 1,238 (negative 1,770) (negative 4,817) 14,427 (negative 29,510) (negative 21,767)
International Monetary Fund—Subscriptions (negative 1,189) (negative 246) (negative 9,041) 278 (negative 755) 198 (negative 729) 1,546 581 (negative 992)
International Monetary Fund—Loans (negative 208) 312 75 153 350 229 178 171 65 65
International Monetary Fund—Resilience and Sustainability Trust – – – – – – – – – (negative 414)
Subtotal (negative 15,381) (negative 14,530) (negative 18,384) (negative 4,858) 833 (negative 1,343) (negative 5,368) 16,144 (negative 28,864) (negative 23,108)
Liabilies
International Monetary Fund
Special drawing rights allocations (negative 1,118) (negative 231) (negative 493) 150 (negative 409) 107 (negative 396) 840 (negative 17,945) (negative 1,489)
Notes payable (negative 760) (negative 1,543) (negative 9,370) 250 (negative 617) 1,300 243 3,023 490 (negative 411)
Subtotal (negative 1,878) (negative 1,774) (negative 9,863) 400 (negative 1,026) 1,407 (negative 153) 3,863 (negative 17,455) (negative 1,900)
Total foreign exchange accounts (negative 13,503) (negative 12,756) (negative 8,521) (negative 5,258) 1,859 (negative 2,750) (negative 5,215) 12,281 (negative 11,409) (negative 21,208)
Unmatured debt
Payable in Canadian currency
Marketable bonds 11,996 15,428 16,553 32,366 37,119 (negative 6,373) 27,511 285,498 154,103 1,757
Treasury bills (negative 28,159) (negative 17,169) 2,533 (negative 1,430) (negative 26,200) 23,291 17,730 67,379 (negative 31,787) 12,022
Retail debt (negative 1,154) (negative 667) (negative 584) (negative 543) (negative 1,947) (negative 1,349) (negative 740) (negative 198) (negative 299) –
Subtotal (negative 17,317) (negative 2,408) 18,502 30,393 8,972 15,569 44,501 352,679 122,017 13,779
Payable in foreign currencies 5,264 4,211 2,221 (negative 4,872) (negative 1,537) (negative 21) (negative 86) (negative 513) (negative 996) 1,561
Obligation related to capital leases (negative 45) 107 (negative 233) (negative 251) (negative 23) (negative 310) 20 (negative 205) 78 (negative 240)
Obligation under public-private partnership 262 (negative 174) 565 629 194 1,118 (negative 921) (negative 59) 50 (negative 17)
Total unmatured debt (negative 11,836) 1,736 21,055 25,899 7,606 16,356 43,514 351,902 121,149 15,083
Cash and cash equivalents at end of year
In Canadian currency 31,415 34,716 36,022 35,353 34,110 36,840 36,400 63,685 100,166 47,891
In foreign currencies 14 283 2,548 1,147 532 795 842 416 656 1,115
Total cash and cash equivalents 31,429 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006

Public Accounts of Canada 2023 Volume I—Bottom of the page Navigation

Date modified: