Consolidated Crown corporations and other entities

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

This section provides all related information on consolidated Crown corporations and other entities. Consolidated entities rely on government funding as their principal source of revenue and are controlled by the government.

Consolidation involves the combination of the accounts of these corporations and other entities on a line-by-line and uniform basis of accounting and the elimination of inter-organizational balances and transactions. Consequently, the corporations and other entities’ accounts must be adjusted to the government’s basis of accounting. All corporations and other entities follow either Canadian Public Sector Accounting Standards or International Financial Reporting Standards. The financial information reported by all of the consolidated Crown corporations and other entities in the following summary tables has been prepared and reported based upon Canadian Public Sector Accounting Standards.

Consolidated Crown corporations are also categorized as being either agents or non-agents of the Crown. Agency status may be expressly stated in the incorporating legislation or conferred under the provisions of the Government Corporations Operation Act.

Summary financial statements of consolidated Crown corporations and other entities

These tables present financial information on consolidated parent Crown corporations and other entities, as well as financial information on wholly-owned subsidiaries that are considered “deemed parent Crown corporations” and thus consolidated directly in the consolidated financial statements of the government and excluded from the consolidated financial statements of their parent Crown corporations. The annual Inventory of Federal Organizations and Interests includes a complete list of federal organizations and interests.

For those corporations and other entities having year ends other than March 31, the data are based on unaudited interim financial statements which have been prepared on a basis consistent with the most recent audited financial statements.

Table 4.1 and Table 4.2 present summarized financial information of the consolidated Crown corporations and other entities. Balances reported under government, Crown corporations and other entities represent those between related parties. Of note, borrowings from third parties represent long-term debts payable of the corporations and other entities. Revenues are broken down to identify revenues arising from normal operations and financial assistance from the government in respect of the current year’s operations. Equity adjustments include prior period adjustments and other miscellaneous items recorded by the corporations and other entities. Remeasurement gains and losses comprise certain unrealized gains and losses on financial instruments excluded from the annual surplus (deficit). Upon realization, these gains and losses are included in the annual surplus (deficit). Equity transactions with the government include dividends declared or transfers of profits to the government, as well as capital transactions with the government. The line “Conversion to the government accounting basis for consolidation purposes” represents the adjustments required to bring the corporations and other entities’ accounting policies in line with those of the government.

Table 4.1
Financial position of consolidated Crown corporations and other entities
Assets, liabilities and equity as at March 31, 2023
(in thousands of dollars)
Consolidated Crown corporations and other entities Assets Liabilities Accumulated profits (losses) Contributed surplus Capital stock Equity of Canada Total liabilities and equity
Financial Non-financial Total assets Third parties Government, Crown corporations and other entities Total liabilities
Third parties Government, Crown corporations and other entities Borrowings Other
Crown corporationsLink to table note 1
Atomic Energy of Canada Limited 369,462 176,873 1,035,328 1,581,663 – 10,345,131 457 10,345,588 (negative 9,228,637) 449,712 15,000 (negative 8,763,925) 1,581,663
Canada Council for the Arts 600,526 1,101 28,228 629,855 – 229,973 842 230,815 399,040 – – 399,040 629,855
Canada Development Investment Corporation
Canada Enterprise Emergency Funding CorporationLink to table note 2 3,250,545 – – 3,250,545 – 7,736 281 8,017 3,242,528 – – 3,242,528 3,250,545
Canada Infrastructure Bank 1,879,194 7,552,006 2,295 9,433,495 – 21,907 – 21,907 9,411,588 – – 9,411,588 9,433,495
Canadian Air Transport Security Authority 128,891 127,860 399,340 656,091 – 176,244 528 176,772 479,319 – – 479,319 656,091
Canadian Broadcasting Corporation 1,699,173 85,017 1,305,243 3,089,433 174,822 768,992 7,764 951,578 2,137,855 – – 2,137,855 3,089,433
Canadian Commercial Corporation 262,379 830 2,410 265,619 – 97,110 123,371 220,481 35,138 10,000 – 45,138 265,619
Canadian Dairy Commission 20,694 3,425 38,263 62,382 11,013 51,420 – 62,433 (negative 51) – – (negative 51) 62,382
Canadian Museum for Human Rights 32,101 120 241,366 273,587 – 131,799 128,421 260,220 13,367 – – 13,367 273,587
Canadian Museum of History 118,724 14,871 184,429 318,024 – 42,737 208,090 250,827 67,197 – – 67,197 318,024
Canadian Museum of Immigration at Pier 21 16,512 150 6,573 23,235 – 10,170 6,310 16,480 6,755 – – 6,755 23,235
Canadian Museum of Nature 37,675 – 153,101 190,776 – 32,445 142,415 174,860 15,916 – – 15,916 190,776
Canadian Race Relations Foundation 25,548 2,209 161 27,918 – 1,078 1,120 2,198 25,720 – – 25,720 27,918
Canadian Tourism Commission 21,018 1,273 6,456 28,747 – 11,441 1 11,442 17,305 – – 17,305 28,747
Defence Construction (1951) Limited 56,487 33,027 3,308 92,822 – 54,972 2,743 57,715 35,107 – – 35,107 92,822
International Development Research Centre 93,994 9,005 6,600 109,599 – 69,308 22,278 91,586 18,013 – – 18,013 109,599
Marine Atlantic Inc. 147,315 15,566 405,613 568,494 – 200,144 – 200,144 368,350 – – 368,350 568,494
National Arts Centre Corporation 40,947 518 198,937 240,402 – 17,801 198,959 216,760 23,642 – – 23,642 240,402
National Capital Commission 394,116 6,190 827,239 1,227,545 – 199,774 51,268 251,042 976,503 – – 976,503 1,227,545
National Gallery of Canada 36,320 672 65,327 102,319 – 7,893 83,089 90,982 11,337 – – 11,337 102,319
National Museum of Science and Technology 31,084 720 243,828 275,632 – 10,995 247,930 258,925 16,707 – – 16,707 275,632
Standards Council of Canada 7,891 2,778 2,801 13,470 – 4,454 – 4,454 9,016 – – 9,016 13,470
Telefilm Canada 6,863 77,570 7,687 92,120 – 51,699 – 51,699 40,421 – – 40,421 92,120
The Federal Bridge Corporation Limited 15,847 291 353,098 369,236 43,661 13,539 – 57,200 312,036 – – 312,036 369,236
The Jacques Cartier and Champlain Bridges Inc. 32,399 36,663 677,118 746,180 – 222,480 – 222,480 523,700 – – 523,700 746,180
VIA Rail Canada Inc. 546,828 108,112 1,707,308 2,362,248 – 366,946 1,625,706 1,992,652 360,296 – 9,300 369,596 2,362,248
Windsor-Detroit Bridge Authority 114,428 1,938 3,218,526 3,334,892 – 1,126,409 – 1,126,409 2,208,483 – – 2,208,483 3,334,892
Total—Crown corporations 9,986,961 8,258,785 11,120,583 29,366,329 229,496 14,274,597 2,851,573 17,355,666 11,526,651 459,712 24,300 12,010,663 29,366,329
Conversion to the government accounting basis for consolidation purposes (negative 4,551) (negative 7,546,298) (negative 99,840) (negative 7,650,689) – (negative 2,385) 450,061 447,676 (negative 7,614,353) (negative 459,712) (negative 24,300) (negative 8,098,365) (negative 7,650,689)
Net Crown corporations on the government accounting basis 9,982,410 712,487 11,020,743 21,715,640 229,496 14,272,212 3,301,634 17,803,342 3,912,298 – – 3,912,298 21,715,640
Other entitiesLink to table note 3
Canada Foundation for Innovation 204,466 269 1,874 206,609 – 1,334 205,275 206,609 – – – – 206,609
Canada Foundation for Sustainable Development Technology 14,485 – 1,395 15,880 – 5,067 10,813 15,880 – – – – 15,880
First Nations Market Housing Fund 326,007 45,518 370 371,895 – 69,126 302,769 371,895 – – – – 371,895
St. Lawrence Seaway Management Corporation 211,469 11,615 13,611 236,695 – 106,933 8,701 115,634 121,061 – – 121,061 236,695
Capital Fund Trust 2,594 – – 2,594 – 7 2,587 2,594 – – – – 2,594
Employee Termination Benefits Trust Fund 320 10 – 330 – 7 323 330 – – – – 330
Total—Other entities 759,341 57,412 17,250 834,003 – 182,474 530,468 712,942 121,061 – – 121,061 834,003
Conversion to the government accounting basis for consolidation purposes – – (negative 22) (negative 22) – (negative 505) (negative 528,948) (negative 529,453) 529,431 – – 529,431 (negative 22)
Net other entities on the government accounting basis 759,341 57,412 17,228 833,981 – 181,969 1,520 183,489 650,492 – – 650,492 833,981
Total 10,741,751 769,899 11,037,971 22,549,621 229,496 14,454,181 3,303,154 17,986,831 4,562,790 – – 4,562,790 22,549,621

Table 4.2
Revenues, expenses and other changes in equity of consolidated Crown corporations and other entities for the year ended March 31, 2023
(in thousands of dollars)
Consolidated Crown corporations and other entities Revenues Expenses Net income (loss) Equity beginning of year Equity adjustments and other Remeasurement gains (losses) Equity transactions with the Government Equity end of year
Third parties Government, Crown corporations and other entities Total Third parties Government, Crown corporations and other entities Total Dividends Capital
Financial assistance Other
Crown corporations
Atomic Energy of Canada Limited 157,886 1,083,200 2,273 1,243,359 378,567 3,171 381,738 861,621 (negative 9,625,365) – (negative 181) – – (negative 8,763,925)
Canada Council for the Arts 27,307 423,423 1,442 452,172 441,528 491 442,019 10,153 396,971 – (negative 8,084) – – 399,040
Canada Development Investment Corporation
Canada Enterprise Emergency Funding Corporation 136,059 – – 136,059 1,964 734 2,698 133,361 3,207,881 1,496 (negative 100,210) – – 3,242,528
Canada Infrastructure Bank 29,712 4,500,426 – 4,530,138 42,804 – 42,804 4,487,334 4,924,254 – – – – 9,411,588
Canadian Air Transport Security Authority 3,817 865,464 – 869,281 887,853 668 888,521 (negative 19,240) 498,559 – – – – 479,319
Canadian Broadcasting Corporation 510,079 1,287,297 4,158 1,801,534 2,079,521 (negative 1,301) 2,078,220 (negative 276,686) 2,414,541 – – – – 2,137,855
Canadian Commercial Corporation 31,722 13,000 3,590 48,312 23,698 4,010 27,708 20,604 25,534 – – (negative 1,000) – 45,138
Canadian Dairy Commission 173,053 4,544 815 178,412 172,358 2,350 174,708 3,704 – (negative 3,704) (negative 51) – – (negative 51)
Canadian Museum for Human Rights 9,755 32,931 – 42,686 36,372 4,956 41,328 1,358 12,009 – – – – 13,367
Canadian Museum of History 15,061 89,945 668 105,674 93,127 11,983 105,110 564 66,764 – (negative 131) – – 67,197
Canadian Museum of Immigration at Pier 21 2,310 10,110 94 12,514 9,630 2,733 12,363 151 6,787 – (negative 183) – – 6,755
Canadian Museum of Nature 11,000 39,831 – 50,831 39,422 2,918 42,340 8,491 7,424 1 – – – 15,916
Canadian Race Relations Foundation 315 6,960 (negative 69) 7,206 562 6,937 7,499 (negative 293) 26,310 223 (negative 520) – – 25,720
Canadian Tourism Commission 3,060 144,729 – 147,789 151,086 1,353 152,439 (negative 4,650) 21,887 – 68 – – 17,305
Defence Construction (1951) Limited 1,738 – 163,955 165,693 156,997 919 157,916 7,777 26,952 – 378 – – 35,107
International Development Research Centre 64,362 158,291 9,147 231,800 242,076 2,878 244,954 (negative 13,154) 31,167 – – – – 18,013
Marine Atlantic Inc. 132,387 131,829 – 264,216 335,220 – 335,220 (negative 71,004) 444,107 (negative 2) (negative 4,751) – – 368,350
National Arts Centre Corporation 31,335 73,572 3,250 108,157 100,636 1,930 102,566 5,591 18,051 – – – – 23,642
National Capital Commission 76,382 191,595 29,254 297,231 137,023 14,824 151,847 145,384 831,119 – – – – 976,503
National Gallery of Canada 21,858 55,480 76 77,414 68,544 7,269 75,813 1,601 10,275 (negative 539) – – – 11,337
National Museum of Science and Technology 9,313 47,491 1,211 58,015 47,950 8,145 56,095 1,920 14,787 – – – – 16,707
Standards Council of Canada 11,094 17,968 4,378 33,440 32,403 78 32,481 959 8,057 – – – – 9,016
Telefilm Canada 21,484 171,050 202 192,736 190,408 2,915 193,323 (negative 587) 41,008 – – – – 40,421
The Federal Bridge Corporation Limited 41,079 4,423 – 45,502 48,849 – 48,849 (negative 3,347) 315,882 (negative 499) – – – 312,036
The Jacques Cartier and Champlain Bridges Inc. 18,202 202,701 – 220,903 329,531 – 329,531 (negative 108,628) 632,328 – – – – 523,700
VIA Rail Canada Inc. 382,563 462,562 2,471 847,596 971,241 9,756 980,997 (negative 133,401) 502,998 (negative 1) – – – 369,596
Windsor-Detroit Bridge Authority 12,715 745,000 (negative 15,712) 742,003 245,891 – 245,891 496,112 1,705,334 – 7,037 – – 2,208,483
Total—Crown corporations 1,935,648 10,763,822 211,203 12,910,673 7,265,261 89,717 7,354,978 5,555,695 6,565,621 (negative 3,025) (negative 106,628) (negative 1,000) – 12,010,663
Conversion to the government accounting basis for consolidation purposes (negative 62,711) (negative 3,866,912) (negative 470) (negative 3,930,093) (negative 15,749) (negative 113,283) (negative 129,032) (negative 3,801,061) (negative 4,337,270) 7,885 31,081 1,000 470 (negative 8,097,895)
Total on the government accounting basis 1,872,937 6,896,910 210,733 8,980,580 7,249,512 (negative 23,566) 7,225,946 1,754,634 2,228,351 4,860 (negative 75,547) – 470 3,912,768
Consolidation adjustments 539 (negative 6,896,910) (negative 210,733) (negative 7,107,104) 3,635 23,566 27,201 (negative 7,134,305) – 7,134,305 – – (negative 470) (negative 470)
Net amount—Crown corporations 1,873,476 – – 1,873,476 7,253,147 – 7,253,147 (negative 5,379,671) 2,228,351 7,139,165 (negative 75,547) – – 3,912,298
Other entities
Canada Foundation for Innovation 8,525 392,828 – 401,353 401,319 34 401,353 – – – – – – –
Canada Foundation for Sustainable Development Technology 1,194 149,664 – 150,858 150,858 – 150,858 – – – – – – –
First Nations Market Housing Fund 8,228 – (negative 889) 7,339 8,228 (negative 889) 7,339 – – – – – – –
St. Lawrence Seaway Management Corporation 83,873 1,650 56,630 142,153 174,070 203 174,273 (negative 32,120) 153,181 – – – – 121,061
Capital Fund Trust 94 62,000 (negative 3,941) 58,153 12 58,141 58,153 – – – – – – –
Employee Termination Benefits Trust Fund 14 – – 14 14 – 14 – – – – – – –
Total—Other entities 101,928 606,142 51,800 759,870 734,501 57,489 791,990 (negative 32,120) 153,181 – – – – 121,061
Conversion to the government accounting basis for consolidation purposes (negative 8,925) 60,591 (negative 41) 51,625 1,517 (negative 4,668) (negative 3,151) 54,776 474,655 – – – – 529,431
Total on the government accounting basis 93,003 666,733 51,759 811,495 736,018 52,821 788,839 22,656 627,836 – – – – 650,492
Consolidation adjustments (negative 1,263) (negative 666,733) (negative 51,759) (negative 719,755) (negative 1,247) (negative 52,821) (negative 54,068) (negative 665,687) – 665,687 – – – –
Net amount—Other entities 91,740 – – 91,740 734,771 – 734,771 (negative 643,031) 627,836 665,687 – – – 650,492
Total 1,965,216 – – 1,965,216 7,987,918 – 7,987,918 (negative 6,022,702) 2,856,187 7,804,852 (negative 75,547) – – 4,562,790

Borrowings by consolidated agent Crown corporations

Table 4.3
Borrowings by consolidated agent Crown corporations
(in thousands of dollars)
  April 1, 2022 Borrowings and other credits Repayments and other charges March 31, 2023
Canadian Broadcasting Corporation 207,047 12,708 44,933 174,822
Canadian Dairy Commission 10,016 128,706 127,709 11,013
The Federal Bridge Corporation Limited 50,373 – 6,712 43,661
Total 267,436 141,414 179,354 229,496

This information is published to satisfy section 49 of the Financial Administration Act (FAA) which requires that an annual statement be included in the Public Accounts of Canada. The borrowings are from lenders other than the government. In accordance with section 54 of the FAA, the payment of all money borrowed by agent Crown corporations and interest thereon is a charge on and payable out of the Consolidated Revenue Fund.

Contingent liabilities of consolidated Crown corporations and other entities

Contingent liabilities of consolidated Crown corporations are included in the Government of Canada’s financial statements as follows, refer to section 2 for further details.

Table 4.4
Contingent liabilities of consolidated Crown corporations and other entities
(in thousands of dollars)
  2023
Pending and threatened litigation and other claims—Provision accrued 20,818
Pending and threatened litigation and other claims—Disclosure only 1,520

Financial assistance under budgetary appropriations to consolidated Crown corporations

Table 4.5 presents charges to appropriations or authorities approved by Parliament. It should be read in conjunction with Table 4.2. Differences in figures reported in Table 4.2 and those reported in Table 4.5 result from the use of different accounting policies and from items in transit.

Table 4.5
Financial assistance under budgetary appropriations to consolidated Crown corporations for the year ended March 31, 2023
(in thousands of dollars)
  Program expenditures vote Operating expenditures vote Capital expenditures vote Financial assistance under budgetary appropriationsLink to table note 1
Agent Crown corporations
Atomic Energy of Canada Limited 1,083,200 – – 1,083,200
Canadian Air Transport Security Authority 865,964 – – 865,964
Canadian Broadcasting Corporation – 1,174,971 112,326 1,287,297
Canadian Commercial Corporation 13,000 – – 13,000
Canadian Dairy Commission 4,544 – – 4,544
Canadian Museum for Human Rights 30,817 – – 30,817
Canadian Museum of History 77,559 – – 77,559
Canadian Museum of Immigration at Pier 21 8,957 – – 8,957
Canadian Museum of Nature 33,006 – – 33,006
Canadian Race Relations Foundation 5,116 – – 5,116
Canadian Tourism Commission 156,225 – – 156,225
National Capital Commission – 82,887 111,341 194,228
National Gallery of Canada – 42,373 8,000 50,373
National Museum of Science and Technology 39,737 – – 39,737
Telefilm Canada 171,050 – – 171,050
The Federal Bridge Corporation Limited 4,423 – – 4,423
The Jacques Cartier and Champlain Bridges Inc. 205,277 – – 205,277
Total—Agent Crown corporations 2,698,875 1,300,231 231,667 4,230,773
Non-agent Crown corporations
Canada Council for the Arts 423,423 – – 423,423
Canada Infrastructure Bank 384,450 – – 384,450
International Development Research Centre 159,037 – – 159,037
Marine Atlantic Inc. 132,121 – – 132,121
National Arts Centre Corporation 66,219 – – 66,219
Standards Council of Canada 17,968 – – 17,968
VIA Rail Canada Inc. 689,628 – – 689,628
Windsor-Detroit Bridge Authority 793,291 – – 793,291
Total—Non-agent Crown corporations 2,666,137 – – 2,666,137
Total 5,365,012 1,300,231 231,667 6,896,910

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