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Investments In Affiliates (Tables)
6 Months Ended
Jun. 30, 2014
Investments in and Advances to Affiliates [Line Items]  
Investments in Affiliates

Investments in affiliates consist of (in thousands):

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

2014

 

2013

Telesat Holdings Inc.

$

122,141 

 

$

60,157 

XTAR, LLC

 

53,391 

 

 

56,663 

 

$

175,532 

 

$

116,820 

 

Equity in Net (Loss) Income of Affiliates

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months
Ended June 30,

 

Six Months
Ended June 30,

 

2014

 

2013

 

2014

 

2013

Telesat Holdings Inc.

$

66,150 

 

$

718 

 

$

65,466 

 

$

         —

XTAR, LLC

 

(1,787)

 

 

(1,736)

 

 

(3,272)

 

 

(3,499)

Other

 

         —

 

 

1,150 

 

 

         —

 

 

(3,650)

 

$

64,363 

 

$

132 

 

$

62,194 

 

$

(7,149)

 

Telesat Holdings Inc [Member]
 
Investments in and Advances to Affiliates [Line Items]  
Summary Financial Data, Equity Method Investment

 

The following table presents summary financial data for Telesat in accordance with U.S. GAAP, for the three and six months ended June 30, 2014 and 2013 and as of June 30, 2014 and December 31, 2013 (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months
Ended June 30,

 

Six Months
Ended June 30,

 

2014

 

2013

 

2014

 

2013

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

205,790 

 

$

210,038 

 

$

426,389 

 

$

427,506 

Operating expenses

 

(39,245)

 

 

(44,174)

 

 

(79,575)

 

 

(94,332)

Depreciation, amortization and stock-based compensation

 

(58,277)

 

 

(62,845)

 

 

(116,758)

 

 

(120,663)

Loss on disposition of long lived asset

 

(3)

 

 

(2,010)

 

 

(62)

 

 

(1,542)

Operating income

 

108,265 

 

 

101,009 

 

 

229,994 

 

 

210,969 

Interest expense

 

(47,501)

 

 

(51,077)

 

 

(95,016)

 

 

(110,772)

Expense of refinancing

 

         —

 

 

         —

 

 

         —

 

 

(19,961)

Foreign exchange gain (loss)

 

92,665 

 

 

(98,389)

 

 

(9,084)

 

 

(168,729)

(Loss) gain on financial instruments

 

(30,979)

 

 

59,755 

 

 

16,371 

 

 

96,608 

Other income

 

1,427 

 

 

10,453 

 

 

2,166 

 

 

10,833 

Income tax provision

 

(18,007)

 

 

(19,151)

 

 

(39,156)

 

 

(26,993)

Net income (loss)

$

105,870 

 

$

2,600 

 

$

105,275 

 

$

(8,045)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

2014

 

2013

Balance Sheet Data:

 

 

 

 

 

Current assets

$

461,688 

 

$

366,814 

Total assets

 

4,926,469 

 

 

4,929,838 

Current liabilities

 

308,239 

 

 

360,744 

Long-term debt, including current portion

 

3,179,547 

 

 

3,215,831 

Total liabilities

 

4,166,313 

 

 

4,280,902 

Shareholders’ equity

 

760,156 

 

 

648,936 

 

XTAR, LLC [Member]
 
Investments in and Advances to Affiliates [Line Items]  
Summary Financial Data, Equity Method Investment

The following table presents summary financial data for XTAR for the three and six months ended June 30, 2014 and 2013 and as of June 30, 2014 and December 31, 2013 (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months
Ended June 30,

 

Six Months
Ended June 30,

 

2014

 

2013

 

2014

 

2013

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

7,675 

 

$

8,325 

 

$

15,721 

 

$

16,450 

Operating expenses

 

(8,006)

 

 

(8,493)

 

 

(15,813)

 

 

(16,862)

Depreciation and amortization

 

(2,314)

 

 

(2,310)

 

 

(4,629)

 

 

(4,620)

Operating loss

 

(2,645)

 

 

(2,478)

 

 

(4,721)

 

 

(5,032)

Net loss

 

(3,302)

 

 

(3,210)

 

 

(6,064)

 

 

(6,469)

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

2014

 

2013

Balance Sheet Data:

 

 

 

 

 

Current assets

$

6,329 

 

$

6,970 

Total assets

 

59,475 

 

 

64,745 

Current liabilities

 

25,030 

 

 

22,443 

Total liabilities

 

57,666 

 

 

56,872 

Members’ equity

 

1,809 

 

 

7,873