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Selected Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]  
Schedule of Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

Year ended December 31, 2014 (1)

 

March 31,

 

June 30,

 

September 30,

 

December 31,

Operating loss

 

$
(1,340)

 

$
(1,336)

 

$
(1,281)

 

$
(1,373)

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

 

 
(1,977)

 

 
(1,881)

 

 
(1,643)

 

 
(2,529)

Equity in net income (loss) of affiliates

 

 
(2,169)

 

 
64,363 

 

 
(19,283)

 

 
(44,413)

Income (loss) from continuing operations (2)

 

 
(14,818)

 

 
53,002 

 

 
(25,880)

 

 
(13,731)

Income (loss) from discontinued operations, net of tax (3)

 

 
(7)

 

 
(1)

 

 
(6,440)

 

 
(17,954)

Net income (loss)

 

 
(14,825)

 

 
53,001 

 

 
(32,320)

 

 
(31,685)

Net income (loss) attributable to Loral common shareholders

 

 
(14,825)

 

 
53,001 

 

 
(32,320)

 

 
(31,685)

Basic and diluted  income  (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share from continuing operations

 

$
(0.48)

 

$
1.71 

 

$
(0.84)

 

$
(0.44)

Basic loss per share from discontinued operations, net of tax

 

 

—

 

 

—

 

 
(0.21)

 

 
(0.58)

Basic income (loss) per share

 

$
(0.48)

 

$
1.71 

 

$
(1.05)

 

$
(1.02)

Diluted income (loss) per share from continuing operations

 

$
(0.48)

 

$
1.67 

 

$
(0.84)

 

$
(0.44)

Diluted loss per share from discontinued operations, net of tax

 

 

—

 

 

—

 

 
(0.21)

 

 
(0.58)

Diluted income (loss) per share

 

$
(0.48)

 

$
1.67 

 

$
(1.05)

 

$
(1.02)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 (2)

 

 
(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

 

 

 

 

 

 

 

 

 

 

 

 

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 

 

(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 2014 and 2013 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. Equity in net income (loss) of affiliates for the quarter ended December 31, 2014 included an impairment charge to reduce our investment in XTAR to its fair value. Equity in net income (loss) of affiliates for the quarter ended March 31, 2013 included expense related to refinancing.

 

(3)Loss from discontinued operations, net of tax, for the quarters ended September 30, 2014 and December 31, 2014 includes the effects of the settlement of the ViaSat Suit and the allocation of the settlement between Loral and MDA, parent of SS/L (see Note 15).