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Selected Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Selected Quarterly Financial Information [Abstract]  
Schedule of Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

Year ended December 31, 2013 (1)

 

March 31,

 

June 30,

 

September 30,

 

December 31,

Operating loss

 

$
(3,747)

 

$
(3,361)

 

$
(3,452)

 

$
(5,478)

Loss from continuing operations before income taxes and equity in net  income (loss) of affiliates

 

 
(3,491)

 

 
(3,364)

 

 
(3,365)

 

 
(5,310)

Equity in net income (loss) of affiliates

 

 
(7,281)

 

 
132 

 

 
33,358 

 

 
12,618 

Income (loss) from continuing operations

 

 
(13,587)

 

 
(5,402)

 

 
37,582 

 

 
2,863 

Income (loss) from discontinued operations, net of tax

 

 
123 

 

 
(2,488)

 

 
(1,987)

 

 
(525)

Net income (loss)

 

 
(13,464)

 

 
(7,890)

 

 
35,595 

 

 
2,338 

Net income (loss) attributable to Loral common shareholders

 

 
(13,464)

 

 
(7,890)

 

 
35,595 

 

 
2,338 

Basic and diluted  income  (loss) per share(2):

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share from continuing operations

 

$
(0.44)

 

$
(0.18)

 

$
1.22 

 

$
0.09 

Basic loss per share from discontinued operations, net of tax

 

 

—

 

 
(0.08)

 

 
(0.06)

 

 
(0.02)

Basic income (loss) per share

 

$
(0.44)

 

$
(0.26)

 

$
1.16 

 

$
0.07 

Diluted income (loss) per share from continuing operations

 

$
(0.44)

 

$
(0.18)

 

$
1.19 

 

$
0.09 

Diluted loss per share from discontinued operations, net of tax

 

 

—

 

 
(0.08)

 

 
(0.06)

 

 
(0.02)

Diluted income (loss) per share

 

$
(0.44)

 

$
(0.26)

 

$
1.13 

 

$
0.07 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

Year ended December 31, 2012 (1)

 

March 31,

 

June 30,

 

September 30,

 

December 31,

Operating loss

 

$
(4,611)

 

$
(4,264)

 

$
(10,316)

 

$
(9,583)

Loss from continuing operations before income taxes and equity in net income (loss) of affiliates

 

 
(4,537)

 

 
(4,128)

 

 
(12,798)

 

 
(5,750)

Equity in net income (loss) of affiliates

 

 
6,869 

 

 
(11,353)

 

 
41,586 

 

 
(2,762)

Income (loss) from continuing operations

 

 
(890)

 

 
(9,718)

 

 
65,404 

 

 
45,646 

Income from discontinued operations, net of tax

 

 
8,508 

 

 
4,937 

 

 
4,271 

 

 
302,933 

Net income (loss)

 

 
7,618 

 

 
(4,781)

 

 
69,675 

 

 
348,579 

Net income (loss) attributable to Loral common shareholders

 

 
7,631 

 

 
(4,778)

 

 
69,889 

 

 
348,580 

Basic and diluted income (loss) per share(2):

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share from continuing operations

 

$
(0.03)

 

$
(0.32)

 

$
2.13 

 

$
1.48 

Basic income per share from discontinued operations, net of tax

 

 
0.28 

 

 
0.16 

 

 
0.14 

 

 
9.85 

Basic income (loss) per share

 

$
0.25 

 

$
(0.16)

 

$
2.27 

 

$
11.33 

Diluted income (loss) per share from continuing operations

 

$
(0.03)

 

$
(0.32)

 

$
2.05 

 

$
1.46 

Diluted income per share from discontinued operations, net of tax

 

 
0.28 

 

 
0.16 

 

 
0.14 

 

 
9.76 

Diluted income (loss) per share

 

$
0.25 

 

$
(0.16)

 

$
2.19 

 

$
11.22 

 

(1)    The quarterly earnings per share information is computed separately for each period. Therefore, the sum of such quarterly per share amounts may differ from the total for the year. 

 

(2)Variations in income from continuing operations among quarters in 2013 and 2012 are primarily the result of (i) the effect of changes in foreign exchange rates between the Canadian dollar and the U.S. dollar on our equity in net income (loss) of Telesat and (ii) the limitation on recording our portion of Telesat’s net income or loss due to the reduction of the carrying amount of our investment in Telesat to zero as a result of the excess of cash dividends received from Telesat in 2012.  In addition, equity in net income (loss) of affiliates for the quarter ended March 31, 2012 included expense related to special payments to executives and certain employees of Telesat in connection with the cash distribution to shareholders and expense related to refinancing.  Equity in net income (loss) of affiliates for the quarters ended March 31, 2013 and June 30, 2012 included expense related to refinancing.