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Investments in Affiliates (Tables)
3 Months Ended
Mar. 31, 2016
Investments in and Advances to Affiliates [Line Items]  
Investments in Affiliates

Investments in affiliates consist of (in thousands):









 

 

 

 

 

 

March 31,

 

December 31,



2016

 

2015

Telesat Holdings Inc.

$

60,942

 

$

         —

XTAR, LLC

 

         —

 

 

         —



$

60,942

 

$

         —



Equity in Net (Loss) Income of Affiliates

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







 

 

 

 

 

 

Three Months
Ended March 31,



2016

 

2015

Telesat Holdings Inc.

$

46,494 

 

$

(74,329)

XTAR, LLC

 

         —

 

 

(2,516)



$

46,494 

 

$

(76,845)



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 months ended March 31, 2016 and 2015 and as of March 31, 2016 and December 31, 2015 (in thousands): 





 

 

 

 

 



Three Months
Ended March 31,

 

2016

 

2015

Statement of Operations Data:

 

 

 

 

 

Revenues

$

170,501 

 

$

186,243 

Operating expenses

 

(32,569)

 

 

(34,622)

Depreciation, amortization and stock-based compensation

 

(47,013)

 

 

(50,186)

Loss on disposition of long lived asset

 

(1,817)

 

 

(15)

Operating income

 

89,102 

 

 

101,420 

Interest expense

 

(35,202)

 

 

(35,203)

Foreign exchange gain (loss)

 

135,907 

 

 

(214,234)

(Loss) gain on financial instruments

 

(12,617)

 

 

4,853 

Other income

 

854 

 

 

807 

Income tax provision

 

(11,020)

 

 

(19,561)

Net income (loss)

$

167,024 

 

$

(161,918)







 

 

 

 

 

 

March 31,

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

611,865 

 

$

568,324 

Total assets

 

4,237,073 

 

 

3,991,301 

Current liabilities

 

414,066 

 

 

180,462 

Long-term debt, including current portion

 

2,955,865 

 

 

2,950,726 

Total liabilities

 

3,690,914 

 

 

3,617,867 

Shareholders’ equity

 

546,159 

 

 

373,434 



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 months ended March 31, 2016 and 2015 and as of March 31, 2016 and December 31, 2015 (in thousands): 



 

 

 

 

 

 

Three Months
Ended March 31,

 

2016

 

2015

Statement of Operations Data:

 

 

 

 

 

Revenues

$

5,878 

 

$

6,028 

Operating expenses

 

(8,255)

 

 

(7,935)

Depreciation and amortization

 

(2,192)

 

 

(2,303)

Operating loss

 

(4,569)

 

 

(4,210)

Net loss

 

(5,528)

 

 

(4,603)









 

 

 

 

 



 

 

March 31,

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

7,572 

 

$

7,533 

Total assets

 

42,641 

 

 

44,793 

Current liabilities

 

45,874 

 

 

41,712 

Total liabilities

 

71,128 

 

 

68,126 

Members’ equity

 

(28,487)

 

 

(23,333)