Enterprise Crown corporations and other government business enterprises

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

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 is 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 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, Schedule III of the Financial Administration Act, and the Bank of Canada. The Canada Pension Plan Investment Board, although a Crown corporation, 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 many self-sustaining government business enterprises that are not considered Crown corporations, but are controlled by the government and, usually 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 His Majesty for the conduct of all or part of their activities. This status is granted in either of the following ways:

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.

Table 9.2
Enterprise Crown corporations and other government business enterprises
(in dollars)
  April 1, 2022Link to table note 1 Payments and other charges Receipts and other credits March 31, 2023
Investments
Investments and accumulated profits/losses, Table 9.4 54,730,031,806 5,506,255,000 10,384,931,126 49,851,355,680
Loans and advancesLink to table note 2
Finance
Department of Finance
Business Development Bank of Canada 20,071,614,053 37,996,671,931 31,204,063,989 26,864,221,995
Canada Lands Company Limited 268,656,520 28,512,692 2,290,000 294,879,212
Canada Mortgage and Housing Corporation 16,118,224,993 11,225,872,916 8,551,063,349 18,793,034,560
Farm Credit Canada 37,446,931,261 13,362,835,305 10,541,501,830 40,268,264,736
Subtotal 73,905,426,827 62,613,892,844 50,298,919,168 86,220,400,503
Global Affairs
Export Development Canada
Canada Development Investment Corporation 16,270,000,000 1,456,630,146 1,595,000,000 16,131,630,146
Intergovernmental Affaires, Infrastructure and Communities
Canada Mortgage and Housing Corporation
Housing 846,552,111 – 129,395,447 717,156,664
Joint projects 328,933,861 – 30,175,756 298,758,105
Real estate 6,509,178 – 715,150 5,794,028
Sewage treatment projects 1,491,332 – 1,491,332 –
Student housing projects 5,675,347 – 2,635,193 3,040,154
Subtotal 1,189,161,829 – 164,412,878 1,024,748,951
Total—Loans and advances 91,364,588,656 64,070,522,990 52,058,332,046 103,376,779,600
Less:
Loans expected to be repaid from future appropriations 2,378,093,151 – 200,792,322 2,177,300,829
Total 143,716,527,311 69,576,777,990 62,242,470,850 151,050,834,451

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 0.43% to 4.48% 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 are discounted using the Consolidated Revenue Fund lending rate applicable to Crown corporations and recorded at their discounted value.

During the year, new notes have been issued for an amount of $27.1 million and an amount of $1.4 million was amortized to income. The balance in the account represents 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 0.01% to 4.70% 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 0.23% to 4.71% per annum.

Canada Development Investment Corporation

Canada Development Investment Corporation (CDEV) was incorporated in 1982 under the provisions of the Canada Business Corporations Act and is wholly-owned by His Majesty in Right of Canada. The Corporation is an agent Crown corporation listed in Schedule III, Part II of the Financial Administration Act and is not subject to the requirements of the Income Tax Act.

CDEV is currently responsible for seven wholly-owned subsidiaries: Canada Hibernia Holding Corporation (CHHC), Canada Eldor Inc. (CEI), Canada TMP Finance Ltd. (TMP Finance) and its subsidiary Trans Mountain Corporation (TMC), Canada Enterprise Emergency Funding Corporation (CEEFC), Canada Growth Fund (CGF), and Canada Innovation Corporation (CIC).

On August 31, 2018, TMC acquired entities from Kinder Morgan Cochin ULC that own and operate the Trans Mountain pipeline system (TMPL), the Puget Sound pipeline system as well as certain rights, designs and construction contracts related to the expansion of the TMPL known as the Trans Mountain Expansion Project.

Loans outstanding at year-end bear interest at a rate of 4.7% per annum.

Advances to programs

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 5.61% 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 7.69% 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 7.27% per annum, and are repayable over 20 to 50 years, with the final instalment paid on March 31, 2023.

Student housing projects

Advances made for student housing projects bear interest at rates from 7.01% to 10.05% per annum, and are repayable over 20 to 50 years, with the final instalment due on April 1, 2030.

Interest paid to the government

Interest paid to the Government of Canada with respect to these loans in the years ended March 31, 2023 and 2022 is as follows:

Table 9.2a
Interest paid to the government
(in millions of dollars)
  2023 2022
Business Development Bank of Canada 505.5 91.8
Canada Development Investment Corporation 747.3 590.0
Canada Mortgage and Housing Corporation 420.3 355.1
Farm Credit Canada 834.4 207.1
Total 2,507.5 1,244.0

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.

Table 9.3
Financial position of enterprise Crown corporations and other government business enterprises
Assets, liabilities and equity as at March 31, 2023
(in thousands of dollars)
Enterprise Crown corporations and other government business enterprisesLink to table note 1 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 13,175 – 14,811 27,986 8,468 5,433 – 13,901 14,085 – – 14,085 27,986
Bank of Canada 11,850,897 369,758,007 717,744 382,326,648 – 345,749,711 38,208,692 383,958,403 (negative 1,636,755) – 5,000 (negative 1,631,755) 382,326,648
Business Development Bank of Canada 44,032,972 13,834 238,116 44,284,922 – 1,219,647 26,926,500 28,146,147 8,821,097 27,778 7,289,900 16,138,775 44,284,922
Canada Deposit Insurance Corporation 2,276,494 5,863,369 19,438 8,159,301 – 2,123,653 5,135 2,128,788 6,030,513 – – 6,030,513 8,159,301
Canada Development Investment Corporation 811,173 169,536 28,242,419 29,223,128 9,628,645 2,629,078 16,708,149 28,965,872 (negative 346,039) 603,294 1 257,256 29,223,128
Canada Lands Company Limited 394,517 41,822 644,504 1,080,843 52,700 100,067 305,353 458,120 441,553 181,170 – 622,723 1,080,843
Canada Mortgage and Housing Corporation 293,586,578 9,918,282 867,662 304,372,522 261,664,430 10,346,894 20,208,403 292,219,727 12,127,785 25,010 – 12,152,795 304,372,522
Canada Post Corporation 8,063,523 347,292 5,673,684 14,084,499 998,004 6,434,267 436,384 7,868,655 5,060,673 1,155,171 – 6,215,844 14,084,499
Export Development Canada 70,742,159 18,409 263,549 71,024,117 54,171,935 4,093,988 74,808 58,340,731 4,193,386 – 8,490,000 12,683,386 71,024,117
Farm Credit Canada 50,254,346 – 212,310 50,466,656 947,044 518,697 40,423,680 41,889,421 8,327,235 250,000 – 8,577,235 50,466,656
Freshwater Fish Marketing Corporation 16,489 – 37,182 53,671 28,519 6,528 18,624 53,671 – – – – 53,671
Great Lakes Pilotage Authority 12,148 4 1,011 13,163 – 7,164 86 7,250 5,913 – – 5,913 13,163
Halifax Port AuthorityLink to table note 2 26,829 – 251,660 278,489 17,531 9,341 – 26,872 200,760 50,857 – 251,617 278,489
Hamilton-Oshawa Port AuthorityLink to table note 2 16,996 – 185,662 202,658 – 18,453 – 18,453 161,165 23,040 – 184,205 202,658
Laurentian Pilotage Authority 17,109 543 24,336 41,988 – 16,250 – 16,250 25,738 – – 25,738 41,988
Montreal Port AuthorityLink to table note 2 136,784 7,876 717,666 862,326 185,971 198,916 1,410 386,297 241,955 234,074 – 476,029 862,326
Pacific Pilotage Authority 16,078 2,103 18,485 36,666 5,152 15,773 230 21,155 15,511 – – 15,511 36,666
Prince Rupert Port AuthorityLink to table note 2 150,922 – 316,865 467,787 – 113,521 – 113,521 318,053 36,213 – 354,266 467,787
Quebec Port AuthorityLink to table note 2 33,682 459 205,618 239,759 40,297 44,034 43,260 127,591 54,906 57,262 – 112,168 239,759
Royal Canadian Mint 129,143 48,397 229,975 407,515 24,159 230,211 2,234 256,604 110,911 – 40,000 150,911 407,515
Saint John Port AuthorityLink to table note 2 18,657 – 143,887 162,544 22,344 18,723 – 41,067 59,818 61,659 – 121,477 162,544
Sept-Iles Port AuthorityLink to table note 2 41,234 135 304,990 346,359 37,187 145,662 – 182,849 151,803 11,707 – 163,510 346,359
Toronto Port AuthorityLink to table note 2 115,571 – 238,056 353,627 26,193 91,085 – 117,278 236,349 – – 236,349 353,627
Vancouver Fraser Port AuthorityLink to table note 2 167,750 6,049 2,530,264 2,704,063 210,676 201,462 4,136 416,274 2,137,530 150,259 – 2,287,789 2,704,063
Other Canada Port AuthoritiesLink to table note 2Link to table note 3 131,046 14,190 268,646 413,882 29,612 31,729 29,003 90,344 180,468 143,070 – 323,538 413,882
Total 483,056,272 386,210,307 42,368,540 911,635,119 328,098,867 374,370,287 143,396,087 845,865,241 46,934,413 3,010,564 15,824,901 65,769,878 911,635,119
Elimination adjustments   (negative 15,654,489) (negative 275,681) (negative 15,930,170)     (negative 11,647) (negative 11,647) (negative 15,918,523)     (negative 15,918,523) (negative 15,930,170)
Total 483,056,272 370,555,818 42,092,859 895,704,949 328,098,867 374,370,287 143,384,440 845,853,594 31,015,890 3,010,564 15,824,901 49,851,355 895,704,949

Table 9.4
Revenues, expenses and other changes in equity of enterprise Crown corporations and other government business
enterprises for the year ended March 31, 2023
(in thousands of dollars)
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 table note 1 Total Third parties Government, Crown corporations and other entities Total Dividends Capital
Atlantic Pilotage Authority 33,588 – 33,588 31,974 186 32,160 1,428 12,531 – 126 – – 14,085
Bank of Canada 148,840 4,139,247 4,288,087 7,254,685 174,568 7,429,253 (negative 3,141,166) 827,525 – 161,587 520,299 – (negative 1,631,755)
Business Development Bank of Canada 2,390,861 – 2,390,861 1,483,866 526,263 2,010,129 380,732 20,404,183 – 10,860 – (negative 4,657,000) 16,138,775
Canada Deposit Insurance Corporation 858,105 82,045 940,150 275,337 16,949 292,286 647,864 5,382,542 – 107 – – 6,030,513
Canada Development Investment Corporation 979,529 2,058 981,587 697,930 73,343 771,273 210,314 106,965 246,214 27,763 (negative 334,000) – 257,256
Canada Lands Company Limited 230,836 – 230,836 211,175 29,966 241,141 (negative 10,305) 643,028 – – (negative 10,000) – 622,723
Canada Mortgage and Housing Corporation 7,892,566 4,143,899 12,036,465 9,530,904 1,079,262 10,610,166 1,426,299 12,284,616 15,728 6,152 (negative 1,580,000) – 12,152,795
Canada Post Corporation 9,922,926 286,467 10,209,393 10,300,647 122,621 10,423,268 (negative 213,875) 5,358,098 3 1,071,618 – – 6,215,844
Export Development Canada 3,490,731 2,048 3,492,779 2,229,008 (negative 5,029) 2,223,979 1,268,800 14,782,459 167,283 274,844 – (negative 3,810,000) 12,683,386
Farm Credit Canada 2,247,255 – 2,247,255 679,566 845,712 1,525,278 721,977 8,576,280 – (negative 522) (negative 470,500) (negative 250,000) 8,577,235
Freshwater Fish Marketing Corporation 72,269 – 72,269 73,853 – 73,853 (negative 1,584) – 1,584 – – – –
Great Lakes Pilotage Authority 46,622 18 46,640 42,103 1,785 43,888 2,752 3,055 – 106 – – 5,913
Halifax Port Authority 47,654 – 47,654 35,011 – 35,011 12,643 235,856 – 3,118 – – 251,617
Hamilton-Oshawa Port Authority 42,059 – 42,059 31,656 – 31,656 10,403 171,681 – 2,121 – – 184,205
Laurentian Pilotage Authority 110,073 – 110,073 108,920 – 108,920 1,153 24,585 – – – – 25,738
Montreal Port Authority 137,863 740 138,603 113,982 5,604 119,586 19,017 448,001 – 9,011 – – 476,029
Pacific Pilotage Authority 112,169 – 112,169 104,715 2,569 107,284 4,885 10,526 – 100 – – 15,511
Prince Rupert Port Authority 69,011 – 69,011 37,810 – 37,810 31,201 319,390 2,472 1,203 – – 354,266
Quebec Port Authority 51,524 3,272 54,796 43,370 2,659 46,029 8,767 99,665 – 3,736 – – 112,168
Royal Canadian Mint 3,094,376 96,410 3,190,786 3,095,930 61,943 3,157,873 32,913 156,933 – 1,765 (negative 40,700) – 150,911
Saint John Port Authority 27,808 – 27,808 21,592 1,031 22,623 5,185 116,762 – (negative 470) – – 121,477
Sept-Iles Port Authority 27,483 – 27,483 14,328 – 14,328 13,155 150,362 (negative 7) – – – 163,510
Toronto Port Authority 90,352 – 90,352 76,185 – 76,185 14,167 211,239 – 10,943 – – 236,349
Vancouver Fraser Port Authority 315,166 2,032 317,198 195,019 8,647 203,666 113,532 2,172,054 – 2,203 – – 2,287,789
Other Canada Port Authorities 60,263 1,175 61,438 47,726 542 48,268 13,170 310,998 (negative 82) (negative 548) – – 323,538
Total 32,499,929 8,759,411 41,259,340 36,737,292 2,948,621 39,685,913 1,573,427 72,809,334 433,195 1,585,823 (negative 1,914,901) (negative 8,717,000) 65,769,878
Elimination adjustments               (negative 18,079,303) 1,898,314 42,466 220,000   (negative 15,918,523)
Total net results 32,499,929 8,759,411 41,259,340 36,737,292 2,948,621 39,685,913 1,573,427 54,730,031 2,331,509 1,628,289 (negative 1,694,901) (negative 8,717,000) 49,851,355
Less equity adjustments             2,304,539   (negative 2,304,539)       –
Share of annual profit             3,877,966 54,730,031 26,970 1,628,289 (negative 1,694,901) (negative 8,717,000) 49,851,355

Borrowings by enterprise Crown corporations and other government business enterprises

Table 9.5
Borrowings by enterprise Crown corporations and other government business enterprises
(in thousands of dollars)
  April 1, 2022 Borrowings and other credits Repayments and other charges March 31, 2023
Agent enterprise Crown corporations
Canada Mortgage and Housing Corporation 258,830,946 39,747,176 36,913,692 261,664,430
Canada Post Corporation 997,774 230 – 998,004
Export Development Canada 44,318,638 71,318,243 61,464,946 54,171,935
Farm Credit Canada 673,439 9,969,594 9,695,989 947,044
Freshwater Fish Marketing Corporation 16,953 28,519 16,953 28,519
Royal Canadian Mint 33,200 633 9,674 24,159
Total—Agent enterprise Crown corporations 304,870,950 121,064,395 108,101,254 317,834,091
Non-agent enterprise Crown corporations and other government business enterprises
Atlantic Pilotage Authority 3,394 8,000 2,926 8,468
Canada Development Investment CorporationLink to table note 1 – 9,628,645 – 9,628,645
Canada Lands Company LimitedLink to table note 2 38,000 15,700 1,000 52,700
Halifax Port AuthorityLink to table note 3 18,526 – 995 17,531
Montreal Port AuthorityLink to table note 3 184,707 10,356 9,092 185,971
Pacific Pilotage Authority 5,817 – 665 5,152
Quebec Port AuthorityLink to table note 3 32,586 9,159 1,448 40,297
Saint John Port AuthorityLink to table note 3 22,344 – – 22,344
Sept-Iles Port AuthorityLink to table note 3 41,476 – 4,289 37,187
Toronto Port AuthorityLink to table note 3 28,473 – 2,280 26,193
Vancouver Fraser Port AuthorityLink to table note 3 115,776 116,201 21,301 210,676
Other Canada Port AuthoritiesLink to table note 3 34,969 154 5,511 29,612
Total—Non-agent enterprise Crown corporations and other government business enterprises 526,068 9,788,215 49,507 10,264,776
Total 305,397,018 130,852,610 108,150,761 328,098,867
Borrowings expected to be repaid by enterprise Crown corporations and other government business enterprises 305,397,018 – – 328,098,867
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 – – – –

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 His Majesty, but may, at times, be guaranteed by the government.

Maturity and currency of borrowings by enterprise Crown corporations and other government business enterprises

Table 9.6
Maturity and currency of borrowings by enterprise Crown corporations
and other government business enterprises
(in thousands of dollars)
Year of maturity Agent Non-agent Total
2024 70,174,678 96,610 70,271,288
2025 48,955,643 9,645,795 58,601,438
2026 41,331,700 227,086 41,558,786
2027 35,115,428 31,373 35,146,801
2028 50,837,844 21,009 50,858,853
Subsequent years 71,418,798 242,903 71,661,701
Total 317,834,091 10,264,776 328,098,867Link to table note 1

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.

Table 9.7
Contingent liabilities of enterprise Crown corporations and other government business enterprises
(in thousands of dollars)
  2023
Loan guarantees 7,761,647
Letters of credit 315,895
Performance guarantees and callable shares 52,056
Pending and threatened litigation and other claims 4,038
Total 8,133,636

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.

Table 9.8
Contractual obligations of enterprise Crown corporations and other government business enterprises as at March 31, 2023
(in thousands of dollars)
  Transfer payment agreements Loans Capital expenditures Operating leases and other Total
Business Development Bank of Canada – 6,310,421 – 160,819 6,471,240
Canada Deposit Insurance Corporation – – – 39,138 39,138
Canada Development Investment Corporation – – 53,321 59,989 113,310
Canada Lands Company Limited – – 75,700 – 75,700
Canada Mortgage and Housing Corporation 7,142,000 8,582,000 – 373,900 16,097,900
Export Development Canada – 16,942,451 – 519,000 17,461,451
Farm Credit Canada – 11,185,000 1,000 222,842 11,408,842
Great Lakes Pilotage Authority – – – 249,820 249,820
Pacific Pilotage Authority – – 1,591 – 1,591
Prince Rupert Port Authority – – 128 – 128
Montreal Port Authority – – 3,493 – 3,493
Royal Canadian Mint – 19,889 – 101,490 121,379
Vancouver Fraser Port Authority – – 156,390 – 156,390
Total 7,142,000 43,039,761 291,623 1,726,998 52,200,383

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.

Table 9.9
Financial assistance to enterprise Crown corporations and other government business enterprises for the year ended  March 31, 2023
(in thousands of dollars)
  Financial assistance
Canada Mortgage and Housing Corporation 4,044,097
Canada Post Corporation 22,210
Total 4,066,307

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

Date modified: