Consolidated Crown corporations and other entities

Public Accounts of Canada 2024 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, 2024
(in thousands of dollars)Links to footnote * in table 1
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 corporationsLinks to footnote 1 in table 1
Atomic Energy of Canada Limited 595,024 16,860 1,137,651 1,749,535 – 10,166,428 1,261 10,167,689 (negative 8,882,866) 449,712 15,000 (negative 8,418,154) 1,749,535
Canada Council for the Arts 601,273 1,836 28,221 631,330 – 190,120 1,444 191,564 439,766 – – 439,766 631,330
Canada Development Investment Corporation
Canada Enterprise Emergency Funding CorporationLinks to footnote 2 in table 1 3,052,732 – – 3,052,732 – 422 295 717 3,052,015 – – 3,052,015 3,052,732
Canada Infrastructure Bank 3,357,888 9,579,180 3,042 12,940,110 – 21,639 – 21,639 12,918,471 – – 12,918,471 12,940,110
Canadian Air Transport Security Authority 127,517 128,569 392,854 648,940 – 171,847 501 172,348 476,592 – – 476,592 648,940
Canadian Broadcasting Corporation 2,122,133 175,194 1,308,757 3,606,084 140,381 768,351 7,578 916,310 2,689,774 – – 2,689,774 3,606,084
Canadian Commercial Corporation 286,983 4,666 2,324 293,973 – 138,476 94,257 232,733 51,240 10,000 – 61,240 293,973
Canadian Dairy Commission 26,088 – 49,548 75,636 11,088 51,299 13,266 75,653 (negative 17) – – (negative 17) 75,636
Canadian Museum for Human Rights 32,222 123 232,287 264,632 – 127,949 122,503 250,452 14,180 – – 14,180 264,632
Canadian Museum of History 113,971 18,265 181,579 313,815 – 49,571 195,769 245,340 68,475 – – 68,475 313,815
Canadian Museum of Immigration at Pier 21 19,153 106 5,474 24,733 – 10,069 5,185 15,254 9,479 – – 9,479 24,733
Canadian Museum of Nature 44,398 195 145,111 189,704 – 33,395 136,362 169,757 19,947 – – 19,947 189,704
Canadian Race Relations Foundation 32,377 32 161 32,570 – 2,038 2,295 4,333 28,237 – – 28,237 32,570
Canadian Tourism Commission 17,049 1,712 4,436 23,197 – 11,342 335 11,677 11,520 – – 11,520 23,197
Defence Construction (1951) Limited 70,415 36,214 4,076 110,705 – 63,906 2,303 66,209 44,496 – – 44,496 110,705
International Development Research Centre 98,171 3,133 9,889 111,193 – 74,678 17,870 92,548 18,645 – – 18,645 111,193
Marine Atlantic Inc. 175,780 29,329 398,600 603,709 – 165,401 – 165,401 438,308 – – 438,308 603,709
National Arts Centre Corporation 45,383 812 191,621 237,816 – 19,622 186,475 206,097 31,719 – – 31,719 237,816
National Capital Commission 291,628 11,298 934,526 1,237,452 – 185,305 38,129 223,434 1,014,018 – – 1,014,018 1,237,452
National Gallery of Canada 40,670 547 62,216 103,433 – 9,757 82,240 91,997 11,436 – – 11,436 103,433
National Museum of Science and Technology 24,106 816 242,972 267,894 – 7,299 241,588 248,887 19,007 – – 19,007 267,894
Standards Council of Canada 9,438 3,079 2,998 15,515 – 5,028 36 5,064 10,451 – – 10,451 15,515
Telefilm Canada 5,188 79,844 7,935 92,967 – 48,006 158 48,164 44,803 – – 44,803 92,967
The Federal Bridge Corporation Limited 23,486 540 342,016 366,042 36,524 12,331 – 48,855 317,187 – – 317,187 366,042
The Jacques Cartier and Champlain Bridges Inc. 45,932 2,238 658,216 706,386 – 166,287 – 166,287 540,099 – – 540,099 706,386
VIA Rail Canada Inc. 576,546 157,777 2,019,218 2,753,541 – 421,543 1,926,543 2,348,086 396,155 – 9,300 405,455 2,753,541
VIA HFR–VIA TGF Inc.Links to footnote 3 in table 1 7,563 10,730 613 18,906 – 8,098 3,373 11,471 7,435 – – 7,435 18,906
Windsor-Detroit Bridge Authority 141,065 1,056 4,297,579 4,439,700 – 1,383,577 – 1,383,577 3,056,123 – – 3,056,123 4,439,700
Total—Crown corporations 11,984,179 10,264,151 12,663,920 34,912,250 187,993 14,313,784 3,079,766 17,581,543 16,846,695 459,712 24,300 17,330,707 34,912,250
Conversion to the government accounting basis for consolidation purposes (negative 4,733) (negative 9,579,180) (negative 91,180) (negative 9,675,093) – (negative 1,092) (negative 99,610) (negative 100,702) (negative 9,090,379) (negative 459,712) (negative 24,300) (negative 9,574,391) (negative 9,675,093)
Net Crown corporations on the government accounting basis 11,979,446 684,971 12,572,740 25,237,157 187,993 14,312,692 2,980,156 17,480,841 7,756,316 – – 7,756,316 25,237,157
Other entitiesLinks to footnote 4 in table 1
Canada Foundation for Innovation 80,006 290 1,754 82,050 – 1,341 80,709 82,050 – – – – 82,050
Canada Foundation for Sustainable Development Technology 22,183 13,694 1,233 37,110 – 23,641 13,469 37,110 – – – – 37,110
First Nations Market Housing Fund 358,582 26,217 333 385,132 – 82,142 302,990 385,132 – – – – 385,132
St. Lawrence Seaway Management Corporation 223,299 5,968 15,315 244,582 – 102,826 10,906 113,732 130,850 – – 130,850 244,582
Capital Fund Trust 2,678 2,161 – 4,839 – 8 4,831 4,839 – – – – 4,839
Employee Termination Benefits Trust Fund 210 2 – 212 – 7 205 212 – – – – 212
Total—Other entities 686,958 48,332 18,635 753,925 – 209,965 413,110 623,075 130,850 – – 130,850 753,925
Conversion to the government accounting basis for consolidation purposes – – – – – (negative 556) (negative 409,829) (negative 410,385) 410,385 – – 410,385 –
Net other entities on the government accounting basis 686,958 48,332 18,635 753,925 – 209,409 3,281 212,690 541,235 – – 541,235 753,925
Total 12,666,404 733,303 12,591,375 25,991,082 187,993 14,522,101 2,983,437 17,693,531 8,297,551 – – 8,297,551 25,991,082

Table 4.2
Revenues, expenses and other changes in equity of consolidated Crown corporations and other entities for the year ended March 31, 2024
(in thousands of dollars)Links to footnote * in table 2
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 137,743 1,344,720 2,911 1,485,374 1,136,671 4,365 1,141,036 344,338 (negative 8,763,925) – 1,433 – – (negative 8,418,154)
Canada Council for the Arts 28,674 369,339 1,309 399,322 386,827 1,213 388,040 11,282 399,040 – 29,444 – – 439,766
Canada Development Investment Corporation
Canada Enterprise Emergency Funding Corporation 125,387 – – 125,387 2,132 330,904 333,036 (negative 207,649) 3,242,528 – 17,136 – – 3,052,015
Canada Infrastructure Bank 59,184 3,510,644 – 3,569,828 62,945 – 62,945 3,506,883 9,411,588 – – – – 12,918,471
Canadian Air Transport Security Authority 3,061 970,663 18 973,742 975,761 708 976,469 (negative 2,727) 479,319 – – – – 476,592
Canadian Broadcasting Corporation 489,177 1,454,160 4,103 1,947,440 1,394,302 1,219 1,395,521 551,919 2,137,855 – – – – 2,689,774
Canadian Commercial Corporation 35,396 13,962 3,819 53,177 28,306 4,769 33,075 20,102 45,138 – – (negative 4,000) – 61,240
Canadian Dairy Commission 158,858 5,370 1,051 165,279 159,451 3,272 162,723 2,556 (negative 51) (negative 2,556) 34 – – (negative 17)
Canadian Museum for Human Rights 10,063 35,782 – 45,845 39,403 5,629 45,032 813 13,367 – – – – 14,180
Canadian Museum of History 19,783 91,752 483 112,018 95,569 15,766 111,335 683 67,197 – 595 – – 68,475
Canadian Museum of Immigration at Pier 21 3,287 11,185 90 14,562 10,117 2,790 12,907 1,655 6,755 – 1,069 – – 9,479
Canadian Museum of Nature 13,328 38,674 939 52,941 45,441 3,469 48,910 4,031 15,916 – – – – 19,947
Canadian Race Relations Foundation 293 7,845 12 8,150 606 7,809 8,415 (negative 265) 25,720 – 2,782 – – 28,237
Canadian Tourism Commission 11,591 119,735 – 131,326 133,933 3,197 137,130 (negative 5,804) 17,305 – 19 – – 11,520
Defence Construction (1951) Limited 2,660 – 183,904 186,564 177,016 675 177,691 8,873 35,107 – 516 – – 44,496
International Development Research Centre 78,573 166,240 9,945 254,758 250,757 3,369 254,126 632 18,013 – – – – 18,645
Marine Atlantic Inc. 129,529 192,015 13,904 335,448 297,041 – 297,041 38,407 368,350 33,557 (negative 2,006) – – 438,308
National Arts Centre Corporation 10,540 76,632 27,888 115,060 104,011 1,676 105,687 9,373 23,642 (negative 1,296) – – – 31,719
National Capital Commission 73,029 105,376 18,474 196,879 144,235 15,129 159,364 37,515 976,503 – – – – 1,014,018
National Gallery of Canada 20,973 51,494 186 72,653 64,213 8,341 72,554 99 11,337 – – – – 11,436
National Museum of Science and Technology 11,111 47,534 2,139 60,784 52,926 5,558 58,484 2,300 16,707 – – – – 19,007
Standards Council of Canada 12,249 20,420 6,060 38,729 37,116 178 37,294 1,435 9,016 – – – – 10,451
Telefilm Canada 21,601 155,276 110 176,987 169,665 2,940 172,605 4,382 40,421 – – – – 44,803
The Federal Bridge Corporation Limited 46,231 7,045 – 53,276 49,320 – 49,320 3,956 312,036 1,195 – – – 317,187
The Jacques Cartier and Champlain Bridges Inc. 4,530 152,418 – 156,948 140,549 – 140,549 16,399 523,700 – – – – 540,099
VIA Rail Canada Inc. 433,994 503,346 1,271 938,611 891,832 10,920 902,752 35,859 369,596 – – – – 405,455
VIA HFR–VIA TGF Inc. 25 49,045 – 49,070 35,842 5,793 41,635 7,435 – – – – – 7,435
Windsor-Detroit Bridge Authority 7,658 1,168,943 – 1,176,601 328,886 – 328,886 847,715 2,208,483 3 (negative 78) – – 3,056,123
Total—Crown corporations 1,948,528 10,669,615 278,616 12,896,759 7,214,873 439,689 7,654,562 5,242,197 12,010,663 30,903 50,944 (negative 4,000) – 17,330,707
Conversion to the government accounting basis for consolidation purposes 195,601 (negative 1,652,135) – (negative 1,456,534) (negative 40,334) 39,835 (negative 499) (negative 1,456,035) (negative 8,098,365) (negative 23,462) (negative 529) 4,000 – (negative 9,574,391)
Total on the government accounting basis 2,144,129 9,017,480 278,616 11,440,225 7,174,539 479,524 7,654,063 3,786,162 3,912,298 7,441 50,415 – – 7,756,316
Consolidation adjustments 457 (negative 9,017,480) (negative 278,616) (negative 9,295,639) 7,197 (negative 479,524) (negative 472,327) (negative 8,823,312) – 8,823,312 – – – –
Net amount—Crown corporations 2,144,586 – – 2,144,586 7,181,736 – 7,181,736 (negative 5,037,150) 3,912,298 8,830,753 50,415 – – 7,756,316
Other entities
Canada Foundation for Innovation 12,564 499,321 – 511,885 511,726 159 511,885 – – – – – – –
Canada Foundation for Sustainable Development Technology 1,952 136,720 – 138,672 138,672 – 138,672 – – – – – – –
First Nations Market Housing Fund 13,546 – 1,199 14,745 13,546 1,199 14,745 – – – – – – –
St. Lawrence Seaway Management Corporation 88,785 1,642 49,751 140,178 137,066 – 137,066 3,112 121,061 6,677 – – – 130,850
Capital Fund Trust 151 51,267 – 51,418 12 51,406 51,418 – – – – – – –
Employee Termination Benefits Trust Fund 17 – – 17 12 5 17 – – – – – – –
Total—Other entities 117,015 688,950 50,950 856,915 801,034 52,769 853,803 3,112 121,061 6,677 – – – 130,850
Conversion to the government accounting basis for consolidation purposes (negative 8,768) (negative 111,974) – (negative 120,742) (negative 5,039) (negative 3,334) (negative 8,373) (negative 112,369) 529,431 (negative 6,677) – – – 410,385
Total on the government accounting basis 108,247 576,976 50,950 736,173 795,995 49,435 845,430 (negative 109,257) 650,492 – – – – 541,235
Consolidation adjustments 347 (negative 576,976) (negative 50,950) (negative 627,579) 360 (negative 49,435) (negative 49,075) (negative 578,504) – 578,504 – – – –
Net amount—Other entities 108,594 – – 108,594 796,355 – 796,355 (negative 687,761) 650,492 578,504 – – – 541,235
Total 2,253,180 – – 2,253,180 7,978,091 – 7,978,091 (negative 5,724,911) 4,562,790 9,409,257 50,415 – – 8,297,551

Borrowings by consolidated agent Crown corporations

Table 4.3
Borrowings by consolidated agent Crown corporations
(in thousands of dollars)Links to footnote * in table 3
  April 1, 2023 Borrowings and other credits Repayments and other charges March 31, 2024
Canadian Broadcasting Corporation 174,822 10,071 44,512 140,381
Canadian Dairy Commission 11,013 157,748 157,673 11,088
The Federal Bridge Corporation Limited 43,661 – 7,137 36,524
Total 229,496 167,819 209,322 187,993

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)
  2024
Provision accrued
Pending and threatened litigation and other claims 30,951
Loan guarantees 381
Total—Provision accrued 31,332
Disclosure only
Pending and threatened litigation and other claims 1,510

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, 2024
(in thousands of dollars)Links to footnote * in table 5
  Program expenditures vote Operating expenditures vote Capital expenditures vote Financial assistance under budgetary appropriationsLinks to footnote 1 in table 5
Agent Crown corporations
Atomic Energy of Canada Limited 1,344,720 – – 1,344,720
Canadian Air Transport Security Authority 971,163 – – 971,163
Canadian Broadcasting Corporation – 1,340,114 114,046 1,454,160
Canadian Commercial Corporation 13,962 – – 13,962
Canadian Dairy Commission 5,376 – – 5,376
Canadian Museum for Human Rights 28,795 – – 28,795
Canadian Museum of History 85,564 – – 85,564
Canadian Museum of Immigration at Pier 21 10,061 – – 10,061
Canadian Museum of Nature 32,316 – – 32,316
Canadian Race Relations Foundation 9,000 – – 9,000
Canadian Tourism Commission 122,662 – – 122,662
National Capital Commission – 71,862 25,040 96,902
National Gallery of Canada – 42,727 8,000 50,727
National Museum of Science and Technology 40,360 – – 40,360
Telefilm Canada 155,276 – – 155,276
The Federal Bridge Corporation Limited 7,045 – – 7,045
The Jacques Cartier and Champlain Bridges Inc. 156,303 – – 156,303
Total—Agent Crown corporations 2,982,603 1,454,703 147,086 4,584,392
Non-agent Crown corporations
Canada Council for the Arts 369,339 – – 369,339
Canada Infrastructure Bank 1,477,761 – – 1,477,761
International Development Research Centre 164,606 – – 164,606
Marine Atlantic Inc. 191,686 – – 191,686
National Arts Centre Corporation 66,360 – – 66,360
Standards Council of Canada 20,420 – – 20,420
VIA Rail Canada Inc. 803,950 – – 803,950
VIA HFR–VIA TGF Inc. 49,503 – – 49,503
Windsor-Detroit Bridge Authority 1,289,463 – – 1,289,463
Total—Non-agent Crown corporations 4,433,088 – – 4,433,088
Total 7,415,691 1,454,703 147,086 9,017,480

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