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Consolidated Statements of Changes in Shareholders’ Equity - CAD ($)
$ in Thousands
Common shares/Public shares
Preferred shares
Total share capital
Accumulated earnings
Equity-settled employee benefits reserve
Foreign currency translation reserve
Total reserves
Total Telesat Corporation/ Telesat Canada shareholders’ equity
Non-controlling Interest
Total
Beginning balance at Dec. 31, 2018 $ 26,580 $ 127,126 $ 153,706 $ 843,601 $ 60,715 $ 34,963 $ 95,678 $ 1,092,985   $ 1,092,985
Net income 187,198 187,198 187,198
Dividends declared on Director Voting Preferred shares (20) (20) (20)
Issuance of share capital on exercise of stock appreciation rights 385 385 (455) (144) (144) (214) (214)
Issuance of share capital on settlement of restricted share units 804 804 (1,729) (1,729) (925) (925)
Other comprehensive income (loss), net of tax expense 731 (50,465) (50,465) (49,734) (49,734)
Share-based compensation 16,035 16,035 16,035 16,035
Ending balance at Dec. 31, 2019 26,580 128,315 154,895 1,031,055 74,877 (15,502) 59,375 1,245,325   1,245,325
Net income 245,578 245,578 245,578
Dividends declared on Director Voting Preferred shares (10) (10) (10)
Issuance of share capital on exercise of stock appreciation rights                   1,422,212
Issuance of share capital on settlement of restricted share units 803 803 (1,729) (1,729) (926) (926)
Other comprehensive income (loss), net of tax expense (10,109) (32,422) (32,422) (42,531) (42,531)
Share-based compensation 12,500 12,500 12,500 12,500
Ending balance at Dec. 31, 2020 26,580 129,118 155,698 1,266,514 85,648 (47,924) 37,724 1,459,936   1,459,936
Net income 103,542 103,542 54,220 157,762
Dividends declared on Director Voting Preferred shares (10) (10) (10)
Issuance of share capital on exercise of stock appreciation rights                   393,717
Issuance of share capital on settlement of restricted share units 16 16 16 16
Other comprehensive income (loss), net of tax expense 9,946 (12,059) (12,059) (2,113) 25,567 23,454
Share-based compensation 49,022 49,022 49,022 24,702 73,724
Reallocation related to Transaction 16,261 (129,134) (112,873) (1,029,116) (96,006) 44,126 (51,880) (1,193,869) 1,178,786 (15,083)
Ending balance at Dec. 31, 2021 $ 42,841 $ 42,841 $ 350,876 $ 38,664 $ (15,857) $ 22,807 $ 416,524 $ 1,283,275 $ 1,699,799