Ten-year comparative financial information

Public Accounts of Canada 2024 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 31Links to footnote 4 in table 1Links to footnote 5 in table 1Links to footnote 6 in table 1
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 2 in table 1Links to footnote 3 in table 1 2024
Revenues
Tax revenues
Income tax revenues
Personal 135,743 144,897 143,680 153,619 163,881 167,576 174,755 198,385 207,872 217,696
Corporate 39,447 41,444 42,216 47,805 50,368 50,060 54,112 78,815 93,945 82,468
Non-resident 6,216 6,505 7,071 7,845 9,370 9,476 8,107 10,789 13,187 12,541
Total 181,406 192,846 192,967 209,269 223,619 227,112 236,974 287,989 315,004 312,705
Other taxes and duties
Goods and services tax 31,349 32,952 34,368 36,751 38,221 37,386 32,415 46,165 45,962 51,416
Energy taxes 5,528 5,565 5,634 5,739 5,802 5,683 4,894 5,355 5,657 5,599
Customs import duties 4,581 5,372 5,478 5,416 6,881 4,853 4,254 5,237 6,057 5,571
Other excise taxes and duties 5,724 5,916 5,868 5,913 6,323 5,958 5,391 5,923 6,548 6,829
Total 47,182 49,805 51,348 53,819 57,227 53,880 46,954 62,680 64,224 69,415
Total tax revenues 228,588 242,651 244,315 263,088 280,846 280,992 283,928 350,669 379,228 382,120
Employment insurance premiums 22,564 23,070 22,125 21,140 22,295 22,219 22,392 23,856 26,914 29,560
Pollution pricing proceeds – – – – – 2,655 4,380 6,341 8,041 10,503
Other revenues
Enterprise Crown corporations and other government business enterprises 9,306 7,916 5,655 7,731 7,101 5,059 (negative 10,542) 12,804 6,452 3,217
Net foreign exchange revenues and return on investments 3,282 3,403 3,296 2,789 3,473 4,218 2,572 1,272 2,374 4,290
Other program revenues 16,165 15,568 15,477 16,468 18,503 18,988 13,716 18,335 24,806 29,859
Total other revenues 28,753 26,887 24,428 26,988 29,077 28,265 5,746 32,411 33,632 37,366
Total revenues 279,905 292,608 290,868 311,216 332,218 334,131 316,446 413,277 447,815 459,549
Expenses
Program expenses
Transfer payments
Old age security benefits, guaranteed income supplement and spouse's allowance 44,103 45,461 48,162 50,644 53,366 56,227 58,529 60,774 69,392 76,036
Major transfer payments to other levels of government
Canada Health Transfer 32,114 34,025 36,057 37,124 38,568 40,872 45,880 45,133 47,141 49,431
Canada Social Transfer 12,582 12,959 13,348 13,748 14,161 14,585 15,023 15,474 15,938 16,417
Canada-Wide Early Learning and Child Care – – – – – – – 2,948 4,489 5,612
Fiscal arrangements 16,271 16,893 17,145 17,575 17,929 18,030 19,299 19,121 19,731 21,738
Other major transfers 2,142 1,973 2,102 2,072 5,267 5,688 26,451 5,710 3,485 6,975
Subtotal 63,109 65,850 68,652 70,519 75,925 79,175 106,653 88,386 90,784 100,173
Employment insurance and support measures 18,052 19,419 20,711 19,715 18,888 21,750 58,356 38,923 21,836 23,130
Children's benefits 14,303 18,025 22,065 23,432 23,882 24,344 27,370 26,226 24,553 26,339
COVID-19 income support for workers – – – – – 4,739 55,832 15,582 (negative 3,544) (negative 4,838)
Canada emergency wage subsidy – – – – – – 80,166 22,291 (negative 257) (negative 420)
Pollution pricing proceeds returned – – – – 664 2,636 4,566 3,814 6,996 9,858
Other transfer payments 35,126 34,874 41,580 47,138 51,753 54,405 97,961 88,478 99,199 96,371
Total transfer payments 174,693 183,629 201,170 211,448 224,478 243,276 489,433 344,474 308,959 326,649
Other expenses, excluding net actuarial losses 73,971 79,939 77,519 86,488 90,077 95,191 119,089 124,445 129,596 140,014
Total program expenses, excluding net actuarial losses 248,664 263,568 278,689 297,936 314,555 338,467 608,522 468,919 438,555 466,663
Public debt charges 24,207 21,837 21,232 21,889 23,266 24,447 20,358 24,487 34,955 47,273
Total expenses, excluding net actuarial losses 272,871 285,405 299,921 319,825 337,821 362,914 628,880 493,406 473,510 513,936
Annual operating deficit before net actuarial losses 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) (negative 54,387)
Net actuarial losses (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) (negative 7,489)
Annual operating deficit (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) (negative 61,876)
Accumulated operating deficit at beginning of year–as previously (adjusted) (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) (negative 1,183,618)
Accounting change and restatement Public sector pensions (negative 14,119) (negative 16,580) (negative 18,454) (negative 19,641) – – – – – –
Asset retirement obligations – – – – – – – (negative 5,379) – –
Other comprehensive income (loss) (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 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) (negative 1,245,494)

Table 1.2
Government of Canada
Consolidated Statement of Financial Position—detailed
(in millions of dollars)
  As at March 31Links to footnote 4 in table 2Links to footnote 5 in table 2Links to footnote 6 in table 2
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 2 in table 2Links to footnote 3 in table 2 2024
Liabilities
Accounts payable and accrued liabilities
Amounts payable related to tax 56,198 53,697 55,077 61,876 65,200 60,186 71,516 78,463 84,747 87,737
Other accounts payable and accrued liabilities 28,384 31,113 30,130 38,740 43,678 49,875 62,358 87,852 57,771 79,894
Provision for contingent liabilities 11,757 12,562 16,511 23,030 26,447 24,928 44,815 53,436 75,999 56,588
Environmental liabilities and asset retirement obligations 12,296 13,282 12,599 12,291 13,192 14,646 14,484 23,886 23,134 22,643
Deferred revenue 8,161 9,684 9,066 8,220 7,500 10,522 10,424 18,892 17,789 17,194
Total accounts payable and accrued liabilities 116,796 120,338 123,383 144,157 156,017 160,157 203,597 262,529 259,440 264,056
Interest-bearing debt
Unmatured debt
Payable in Canadian currency
Marketable bonds 496,463 513,016 545,382 582,501 576,128 603,639 889,137 1,043,240 1,044,997 1,087,686
Treasury bills 135,361 137,894 136,464 110,264 133,555 151,285 218,664 186,877 198,899 262,983
Retail debt 5,660 5,076 4,533 2,586 1,237 497 299 – – –
Subtotal 637,484 655,986 686,379 695,351 710,920 755,421 1,108,100 1,230,117 1,243,896 1,350,669
Payable in foreign currencies 20,277 22,498 17,626 16,089 16,068 15,982 15,469 14,473 16,034 21,246
Obligation related to capital leases 3,710 3,477 3,226 3,203 2,893 2,913 2,708 2,786 2,546 2,366
Obligation under public-private partnership 1,005 1,570 2,199 2,393 3,511 2,590 2,531 2,581 2,564 2,541
Total unmatured debt 662,476 683,531 709,430 717,036 733,392 776,906 1,128,808 1,249,957 1,265,040 1,376,822
Pensions and other future benefits
Public sector pensions 169,244 170,681 171,447 170,914 168,782 168,596 168,761 167,666 166,425 165,354
Other employee and veteran future benefits 76,140 85,681 93,568 104,793 113,862 126,378 144,186 159,705 177,949 196,350
Total pensions and other future benefits 245,384 256,362 265,015 275,707 282,644 294,974 312,947 327,371 344,374 361,704
Canada Pension Plan Account 212 35 106 32 163 279 139 101 306 159
Other liabilities 5,790 5,567 5,583 5,638 5,742 5,772 6,572 7,606 7,033 6,804
Total interest-bearing debt 913,862 945,495 980,134 998,413 1,021,941 1,077,931 1,448,466 1,585,035 1,616,753 1,745,489
Foreign exchange accounts liabilities 19,425 29,288 28,888 29,914 28,507 28,660 24,797 42,252 44,151 44,106
Derivatives 7,716 9,232 9,419 8,786 8,265 11,331 3,245 2,471 4,689 4,131
Total liabilities 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 2,057,782
Financial assets
Cash and accounts receivable
Cash and cash equivalents 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006 75,059
Taxes receivable 98,499 105,848 110,514 123,035 127,561 121,098 142,023 167,588 180,982 203,045
Other accounts receivable 3,031 10,139 10,316 14,380 11,845 15,375 18,072 11,642 13,532 13,999
Total cash and accounts receivable 136,529 154,557 157,330 172,057 177,041 173,715 224,196 280,052 243,520 292,103
Foreign exchange accounts
International reserves held in the Exchange Fund Account 91,961 101,379 106,668 105,430 107,200 112,017 97,589 127,099 148,866 159,415
International Monetary Fund–Subscriptions 11,129 20,170 19,892 20,647 20,449 21,178 19,633 19,052 20,043 19,757
International Monetary Fund–Loans 1,353 1,278 1,125 775 546 368 197 132 67 –
International Monetary Fund Trusts–Poverty Reduction and Growth Trust – – – – – – – – – 494
International Monetary Fund—Resilience and Sustainability Trust – – – – – – – – 414 474
Total foreign exchange accounts 104,443 122,827 127,685 126,852 128,195 133,563 117,419 146,283 169,390 180,140
Derivatives 1,170 764 1,649 979 1,052 810 3,067 4,974 3,260 2,928
Loans, investments and advances
Enterprise Crown corporations and other government business enterprises 89,375 91,116 99,427 100,775 108,169 125,108 119,994 143,717 151,051 165,344
Other loans, investments and advances 24,306 24,841 24,579 25,596 25,743 27,394 59,284 63,314 62,059 44,458
Total loans, investments and advances 113,681 115,957 124,006 126,371 133,912 152,502 179,278 207,031 213,110 209,802
Public sector pension assets 1,263 1,639 1,900 2,124 2,406 4,598 6,320 9,203 12,996 20,055
Total financial assets 357,086 395,744 412,570 428,383 442,606 465,188 530,280 647,543 642,276 705,028
Net Debt (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) (negative 1,352,754)
Non-financial assets
Tangible capital assets 63,347 65,838 69,676 73,835 78,942 83,682 87,583 92,785 97,337 104,552
Inventories 7,250 7,221 6,842 6,679 6,601 6,171 9,764 9,026 9,405 8,214
Prepaid expenses and other 1,206 1,110 1,196 1,119 1,131 1,678 3,732 2,958 3,002 3,837
Total non-financial assets 71,803 74,169 77,714 81,633 86,674 91,531 101,079 104,769 109,744 116,603
Accumulated deficit (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) (negative 1,236,151)
Accumulated deficit is comprised of:
Accumulated operating deficit (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) (negative 1,245,494)
Accumulated remeasurement gains – – – – – – – – 10,605 9,343
Total (negative 629,910) (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) (negative 1,236,151)

Table 1.3
Government of Canada
Consolidated Statement of Change in Net Debt—detailed
(in millions of dollars)
  Year ended March 31Links to footnote 4 in table 3Links to footnote 5 in table 3Links to footnote 6 in table 3
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 2 in table 3Links to footnote 3 in table 3 2024
Net debt at beginning of year—as previously reported (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) (negative 1,282,757)
Accounting changes and restatement
Public sector pensions (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 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) (negative 1,282,757)
Change in net debt during the year
Annual Operating deficit (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) (negative 61,876)
Change due to tangible capital assets
Acquisition of tangible capital assets (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) (negative 13,585)
Amortization of tangible capital assets 5,090 5,049 5,168 5,261 5,643 5,790 5,969 5,514 5,644 5,633
Proceeds from disposal of tangible capital assets 855 610 373 236 433 41 15 28 26 62
Net loss (gain) on disposal and write-offs of tangible capital assets, including adjustments (negative 146) (negative 135) (negative 832) 137 (negative 49) (negative 285) 242 (negative 207) 481 675
Total change due to tangible capital assets (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) (negative 7,215)
Change due to inventories 66 29 379 163 78 430 (negative 3,593) 738 (negative 379) 1,191
Change due to prepaid expenses and other (negative 31) 96 (negative 86) 77 (negative 12) (negative 547) (negative 2,054) 774 (negative 44) (negative 835)
Increase in net debt excluding remeasurement (losses) (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) (negative 68,735)
Net remeasurement (losses) gains – – – – – – – – 4,847 (negative 1,262)
Other comprehensive income (loss) (negative 2,360) (negative 2,669) 1,857 (negative 753) (negative 232) 3,482 343 4,465 – –
Net increase in net debt (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) (negative 69,997)
Net debt at end of year (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) (negative 1,352,754)

Table 1.4
Government of Canada
Consolidated Statement of Cash Flow—detailed
(in millions of dollars)
  Year ended March 31Links to footnote 4 in table 4Links to footnote 5 in table 4Links to footnote 6 in table 4
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 2 in table 4Links to footnote 3 in table 4 2024Links to footnote 1 in table 4
Operating activities
Annual Operating deficit (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) (negative 61,876)
Non-cash items
Share of annual (profit) loss in enterprise Crown corporations and other government business enterprises (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) 660
Effective interest on debt 2,261 2,374 1,936 1,999 3,044 4,649 1,559 3,416 9,329 15,082
Provision for valuation on other loans, investments and advances 1,056 1,034 869 (negative 109) 2,080 425 17,175 2,563 6,688 3,431
Amortization of tangible capital assets 5,090 5,049 5,168 5,261 5,643 5,790 5,969 5,514 5,644 5,633
Net (gain) loss on disposal and write-offs of tangible capital assets, including adjustments (negative 146) (negative 135) (negative 832) 137 (negative 49) (negative 285) 242 (negative 207) 481 675
Net exchange (gain) loss and accrued interest on derivatives 4,343 1,722 (negative 627) 71 (negative 561) 3,318 (negative 10,142) (negative 2,696) 6,444 (negative 224)
Pensions and other future benefit and interest expenses 21,817 26,491 25,884 29,588 25,662 28,954 35,152 32,127 33,720 32,363
Provision for doubtful accounts 4,315 4,325 2,566 2,323 4,024 4,403 6,257 5,571 6,249 12,638
Net losses on write-offs and write-down of inventory and prepaid expenses 327 698 370 613 400 307 486 2,236 1,524 1,499
Net exchange gain (loss) on foreign exchange accounts and other foreign currency balances (negative 6,653) (negative 2,471) 214 (negative 771) (negative 589) (negative 5,298) 7,199 3,450 (negative 5,969) (negative 237)
Foreign exchange accounts net (gain) loss on investments and non-cash interest – – – – – – – – (negative 170) (negative 1,350)
Change in taxes receivable (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) (negative 30,015)
Pension and other future benefit payments (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) (negative 22,092)
Net change in foreign exchange accounts assets (negative 8,860) (negative 15,691) (negative 5,200) 2,873 (negative 859) 610 5,564 (13,569 – –
Net change in foreign exchange accounts liabilities 2,114 9,493 (negative 349) 882 (negative 1,400) (negative 682) (negative 1,526) (negative 1,173) – –
Change in accounts payable and accrued liabilities 9,858 3,488 2,824 20,849 11,908 4,126 43,564 52,641 (negative 3,221) 4,242
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) (negative 249)
Net change in other accounts (negative 824) (negative 3,068) (negative 720) (negative 516) 1,118 1,036 (negative 9,517) (negative 3,340) (negative 4,577) (negative 7,130)
Cash (used) provided by operating activities (negative 135) (negative 10,496) (negative 17,085) 473 4,860 (negative 15,070) (negative 249,773) (negative 64,754) (negative 24,353) (negative 46,950)
Capital investment activities
Acquisition of tangible capital assets (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 10,891) (negative 13,560)
Proceeds from disposal of tangible capital assets 855 610 373 236 433 41 15 28 26 62
Cash used by capital investment activities (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 10,865) (negative 13,498)
Investing activities
Enterprise Crown corporations and other government business enterprises
Dividends received and other equity adjustments 3,514 4,975 2,195 7,993 6,302 1,992 (negative 13,989) 13,187 11,505 1,515
Purchases of other investments – – – – – – – – – (negative 7,569)
Issuance of loans and advances (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 63,334) (negative 65,098)
Repayment of loans and advances 88,168 52,699 48,703 39,884 41,086 42,648 47,837 54,205 52,058 57,332
Issuance of other loans, investments and advances and foreign exchange accounts loans (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 13,773) (negative 12,971)
Repayment of other loans, investments and advances and foreign exchange accounts loans 4,991 5,383 4,708 3,120 4,555 4,699 5,010 7,693 8,737 26,999
Issuance of advances to the Exchange Fund Account – – – – – – – – (negative 47,464) (negative 41,234)
Repayment of advances to the Exchange Fund Account – – – – – – – – 33,331 30,548
Cash (used) provided by investing activities 9,287 914 (negative 2,585) 758 (negative 4,392) (negative 13,153) (negative 64,675) (negative 6,562) (negative 18,940) (negative 10,478)
Total cash (used) generated before financing activities 3,203 (negative 16,351) (negative 27,131) (negative 7,753) (negative 9,109) (negative 37,780) (negative 324,463) (negative 80,174) (negative 54,158) (negative 70,926)
Financing activities
Issuance of Canadian currency borrowings 468,021 452,850 507,483 441,307 437,135 468,722 1,048,574 710,292 587,867 773,261
Repayment of Canadian currency borrowings (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) (negative 681,572)
Issuance of foreign currency borrowings 16,961 26,817 21,702 15,847 19,631 17,821 34,185 31,377 23,825 24,573
Repayment of foreign currency borrowings (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 23,900) (negative 18,195)
Receipt of Canadian currency under swap contracts – – – – – – – – 7,324 9,808
Payment of Canadian currency under swap contracts – – – – – – – – (negative 22,893) (negative 17,603)
Receipt of foreign currency under swap contracts – – – – – – – – 22,879 17,603
Payment of foreign currency under swap contracts – – – – – – – – (negative 8,348) (negative 10,896)
Cash provided (used) by financing activities 367 19,922 25,061 5,895 12,102 37,387 351,322 116,895 2,342 96,979
Net increase (decrease) in cash and cash equivalents 3,570 3,571 (negative 2,070) (negative 1,858) 2,993 (negative 393) 26,859 36,721 (negative 51,816) 26,053
Cash and cash equivalents at beginning of year 31,429 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006
Cash and cash equivalents at end of year 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006 75,059

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 31Links to footnote 4 in table 5Links to footnote 5 in table 5Links to footnote 6 in table 5
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 2 in table 5Links to footnote 3 in table 5 2024
Loans, investments and advances
Enterprise Crown corporations and other government business enterprises
Loans and advances
Canada Mortgage and Housing Corporation 10,465 177 720 1,124 592 (negative 6,282) (negative 907) (negative 2,024) (negative 2,510) (negative 2,310)
Business Development Bank of Canada (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) (negative 2,626)
Farm Credit Canada (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) (negative 2,829)
Canadian Development Investment Corporation – – – – (negative 4,790) (negative 1,465) (negative 3,725) (negative 6,290) 138 (negative 764)
Other (negative 167) (negative 11) (negative 117) (negative 18) 9 17 (negative 12) 154 (negative 26) (negative 2)
Subtotal 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) (negative 8,531)
Investments
Share of annual loss (profit) (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) 660
Other comprehensive (income) loss 2,360 2,669 (negative 1,857) 753 232 (negative 3,482) (negative 343) (negative 4,465) (negative 1,628) 221
Dividends 2,341 4,002 2,320 8,058 6,427 3,618 13,592 6,050 1,695 1,423
Capital 1,030 973 (negative 125) (negative 65) (negative 125) (negative 1,816) (negative 18,470) (negative 435) 8,717 (negative 290)
Equity adjustments and other 143 – – – – 190 (negative 24) 2 (negative 27) (negative 13)
Canada Mortgage Bonds – – – – – – – – – (negative 7,580)
Subtotal (negative 2,491) 328 (negative 4,582) 1,787 614 (negative 5,078) 6,393 (negative 10,383) 4,879 (negative 5,579)
Total 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) (negative 14,110)
Less:
Loans expected to be repaid from future appropriations 353 221 218 264 204 167 115 225 201 183
Total 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) (negative 14,293)
Other loans, investments and advances
Portfolio investments 119 351 286 1,235 (negative 616) (negative 385) (negative 165) 390 (negative 166) (negative 247)
Capital subscriptions - International organizations – – – (negative 257) 257 – – – – –
Loans and advances
Canada Emergency Business Account – – – – – – (negative 28,789) 344 3,864 21,016
Canada Student Loans and Canada Apprentice Loans (negative 1,021) (negative 694) (negative 504) (negative 913) (negative 1,156) (negative 637) (negative 1,120) (negative 115) (negative 510) 1,683
Unconditionally repayable contributions (negative 170) (negative 1,177) 47 (negative 139) (negative 147) (negative 389) (negative 1,619) (negative 1,098) (negative 948) (negative 622)
Other loans and advances (negative 414) 985 433 (negative 943) 1,515 (negative 240) (negative 197) (negative 3,550) (negative 984) (negative 4,229)
Total loans and advances (negative 1,605) (negative 886) (negative 24) (negative 1,995) 212 (negative 1,266) (negative 31,725) (negative 4,419) 1,422 17,848
Total (negative 1,486) (negative 535) 262 (negative 1,017) (negative 147) (negative 1,651) (negative 31,890) (negative 4,029) 1,256 17,601
Total loans, investments and advances 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) 3,308
Pensions and other future benefits
Public sector pensions 1,638 1,061 505 (negative 757) (negative 2,414) (negative 2,378) (negative 1,557) (negative 3,979) (negative 5,034) (negative 8,130)
Other employee and veteran future benefits 4,181 9,541 7,887 11,225 9,069 12,516 17,808 15,519 18,244 18,401
Total pensions and other future benefits 5,819 10,602 8,392 10,468 6,655 10,138 16,251 11,540 13,210 10,271
Other liabilities
Canada Pension Plan Account 72 (negative 177) 71 (negative 74) 131 115 (negative 139) (negative 38) 204 (negative 146)
Other liabilities 16 (negative 223) 16 55 104 31 800 1,034 (negative 573) (negative 230)
Total other liabilities 88 (negative 400) 87 (negative 19) 235 146 661 996 (negative 369) (negative 376)
Non-financial assets
Tangible capital assets (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) (negative 7,214)
Inventories 66 29 379 163 78 430 (negative 3,593) 738 (negative 379) 1,191
Prepaid expenses and other (negative 31) 96 (negative 86) 77 (negative 12) (negative 547) (negative 2,054) 774 (negative 44) (negative 835)
Total non-financial assets (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) (negative 6,858)
Other transactions
Taxes receivable (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) (negative 22,063)
Other accounts receivable 675 (negative 7,108) (negative 177) (negative 4,064) 2,535 (negative 3,530) (negative 2,697) 6,430 (negative 1,890) (negative 467)
Derivative assets (negative 402) 406 (negative 885) 670 (negative 73) 242 (negative 2,257) (negative 1,907) 1,714 332
Provincial, Territorial and Indigenous Tax Agreements Account 951 2,780 (negative 1,942) 5,034 (negative 351) (negative 4,710) 7,691 16,140 (negative 20,942) 11,285
Amounts payable related to tax 3,598 (negative 2,501) 1,380 6,799 3,324 (negative 5,014) 11,330 6,947 6,285 2,990
Derivative liabilities 4,536 1,516 187 (negative 633) (negative 521) 3,066 (negative 8,086) (negative 774) 2,218 (negative 558)
Other liabilities 5,661 3,262 3,607 8,941 8,888 13,863 24,419 35,845 11,568 (negative 9,659)
Total other transactions 9,009 (negative 8,994) (negative 2,496) 4,226 9,276 10,380 9,475 37,116 (negative 14,441) (negative 18,140)
Total non-budgetary transactions and non-financial assets 17,500 (negative 3,434) (negative 5,611) 8,391 3,584 (negative 2,783) (negative 9,937) 18,211 (negative 12,653) (negative 11,795)

Table 1.6
Government of Canada
Consolidated Statement of Foreign Exchange, Unmatured Debt and Cash Transactions—detailed
(in millions of dollars)
  Year ended March 31Links to footnote 4 in table 6
2015 2016 2017 2018 2019 2020 2021 2022 2023Links to footnote 3 in table 6 2024
Foreign exchange accounts
Assets
International reserves held in the Exchange Fund Account (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) (negative 10,549)
International Monetary Fund—Subscriptions (negative 246) (negative 9,041) 278 (negative 755) 198 (negative 729) 1,546 581 (negative 992) 286
International Monetary Fund—Loans 312 75 153 350 229 178 171 65 65 67
International Monetary Fund—Poverty Reduction and Growth Trust – – – – – – – – – (negative 494)
International Monetary Fund—Resilience and Sustainability Trust – – – – – – – – (negative 414) (negative 60)
Subtotal (negative 14,530) (negative 18,384) (negative 4,858) 833 (negative 1,343) (negative 5,368) 16,144 (negative 28,864) (negative 23,108) (negative 10,750)
Liabilities
International Monetary Fund
Special drawing rights allocations (negative 231) (negative 493) 150 (negative 409) 107 (negative 396) 840 (negative 17,945) (negative 1,489) 430
Notes payable (negative 1,543) (negative 9,370) 250 (negative 617) 1,300 243 3,023 490 (negative 411) (negative 385)
Subtotal (negative 1,774) (negative 9,863) 400 (negative 1,026) 1,407 (negative 153) 3,863 (negative 17,455) (negative 1,900) 45
Total foreign exchange accounts (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) (negative 10,795)
Unmatured debt
Payable in Canadian currency
Marketable bonds 15,428 16,553 32,366 37,119 (negative 6,373) 27,511 285,498 154,103 1,757 42,689
Treasury bills (negative 17,169) 2,533 (negative 1,430) (negative 26,200) 23,291 17,730 67,379 (negative 31,787) 12,022 64,084
Retail debt (negative 667) (negative 584) (negative 543) (negative 1,947) (negative 1,349) (negative 740) (negative 198) (negative 299) – –
Subtotal (negative 2,408) 18,502 30,393 8,972 15,569 44,501 352,679 122,017 13,779 106,773
Payable in foreign currencies 4,211 2,221 (negative 4,872) (negative 1,537) (negative 21) (negative 86) (negative 513) (negative 996) 1,561 5,212
Obligation related to capital leases 107 (negative 233) (negative 251) (negative 23) (negative 310) 20 (negative 205) 78 (negative 240) (negative 180)
Obligation under public-private partnership (negative 174) 565 629 194 1,118 (negative 921) (negative 59) 50 (negative 17) (negative 23)
Total unmatured debt 1,736 21,055 25,899 7,606 16,356 43,514 351,902 121,149 15,083 111,782
Cash and cash equivalents at end of year
In Canadian currency 34,716 36,022 35,353 34,110 36,840 36,400 63,685 100,166 47,891 73,809
In foreign currencies 283 2,548 1,147 532 795 842 416 656 1,115 1,250
Total cash and cash equivalents 34,999 38,570 36,500 34,642 37,635 37,242 64,101 100,822 49,006 75,059

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