Investments in Affiliates (Tables)

9 Months Ended

Sep. 30, 2020

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	September 30,		December 31,
	2020		2019
Telesat	$	105,402	$	90,184

Equity in Net (Loss) Income of Affiliates

Equity in net income of affiliates consists of (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Telesat	$	49,645	$	8,784	$	9,086	$	92,066

Telesat Holdings Inc [Member]

Investments in and Advances to Affiliates [Line Items]

Summary Financial Data, Equity Method Investment

The following tables present summary financial data for Telesat in accordance with U.S. GAAP as of September 30, 2020 and December 31, 2019 and for the three and nine months ended September 30, 2020 and 2019 (in thousands):

	September 30,		December 31,
	2020		2019
Balance Sheet Data:
Current assets	$	990,985	$	877,294
Total assets		4,094,795		4,130,337
Current liabilities		151,645		124,217
Long-term debt, including current portion		2,824,838		2,836,700
Total liabilities		3,448,067		3,504,594
Shareholders’ equity		646,728		625,743

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Statement of Operations Data:
Revenues	$	152,081	$	180,180	$	460,407	$	520,819
Operating expenses		(33,322)		(29,038)		(103,717)		(102,536)
Depreciation and amortization		(44,888)		(52,259)		(133,336)		(155,036)
Other operating expense		(26)		(45)		(182)		(110)
Operating income		73,845		98,838		223,172		263,137
Interest expense		(37,715)		(46,239)		(115,947)		(139,574)
Foreign exchange gain (loss)		48,943		(24,702)		(74,387)		73,713
Gain (loss) on financial instruments		246		(4,244)		(11,643)		(40,619)
Other income		1,524		4,497		7,476		12,603
Income tax provision		(9,053)		(15,548)		(18,509)		(26,584)
Net income	$	77,790	$	12,602	$	10,162	$	142,676