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Investments in Affiliates (Tables)
6 Months Ended
Jun. 30, 2016
Investments in and Advances to Affiliates [Line Items]  
Investments in Affiliates

Investments in affiliates consist of (in thousands):









 

 

 

 

 

 

June 30,

 

December 31,



2016

 

2015

Telesat Holdings Inc.

$

104,793

 

$

         —

XTAR, LLC

 

         —

 

 

         —



$

104,793

 

$

         —



Equity in Net (Loss) Income of Affiliates

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







 

 

 

 

 

 

 

 

 

 

 

 

Three Months

 

Six Months



Ended June 30,

 

Ended June 30,



2016

 

2015

 

2016

 

2015

Telesat Holdings Inc.

$

43,357 

 

$

27,913 

 

$

89,851 

 

$

(46,416)

XTAR, LLC

 

         —

 

 

(2,826)

 

 

         —

 

 

(5,342)



$

43,357 

 

$

25,087 

 

$

89,851 

 

$

(51,758)



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 and in U.S. dollars, for the three and six months ended June 30, 2016 and 2015 and as of June 30, 2016 and December 31, 2015 (in thousands): 







 

 

 

 

 

 

 

 

 

 

 



Three Months

 

Six Months



Ended June 30,

 

Ended June 30,

 

2016

 

2015

 

2016

 

2015

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

180,012 

 

$

183,133 

 

$

350,513 

 

$

369,376 

Operating expenses

 

(35,658)

 

 

(34,264)

 

 

(68,227)

 

 

(68,886)

Depreciation, amortization and stock-based compensation

 

(50,378)

 

 

(48,642)

 

 

(97,391)

 

 

(98,828)

Loss on disposition of long lived asset

 

(96)

 

 

(6)

 

 

(1,913)

 

 

(21)

Operating income

 

93,880 

 

 

100,221 

 

 

182,982 

 

 

201,641 

Interest expense

 

(35,149)

 

 

(35,068)

 

 

(70,351)

 

 

(70,271)

Foreign exchange gain (loss)

 

18,364 

 

 

45,393 

 

 

154,271 

 

 

(168,841)

Gain (loss) on financial instruments

 

6,666 

 

 

(3,657)

 

 

(5,951)

 

 

1,196 

Other income

 

929 

 

 

568 

 

 

1,783 

 

 

1,375 

Income tax provision

 

(15,049)

 

 

(18,518)

 

 

(26,069)

 

 

(38,079)

Net income (loss)

$

69,641 

 

$

88,939 

 

$

236,665 

 

$

(72,979)





 

 

 

 

 

 

June 30,

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

645,414 

 

$

568,324 

Total assets

 

4,281,263 

 

 

3,991,301 

Current liabilities

 

1,289,960 

 

 

180,462 

Long-term debt, including current portion

 

2,940,515 

 

 

2,950,726 

Total liabilities

 

3,663,623 

 

 

3,617,867 

Shareholders’ equity

 

617,640 

 

 

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 and six months ended June 30, 2016 and 2015 and as of June 30, 2016 and December 31, 2015 (in thousands): 



 

 

 

 

 

 

 

 

 

 

 

 

Three Months

 

Six Months



Ended June 30,

 

Ended June 30,

 

2016

 

2015

 

2016

 

2015

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

4,422 

 

$

6,669 

 

$

10,300 

 

$

12,697 

Operating expenses

 

(7,938)

 

 

(8,171)

 

 

(16,193)

 

 

(16,106)

Depreciation and amortization

 

(2,192)

 

 

(2,189)

 

 

(4,384)

 

 

(4,492)

Operating loss

 

(5,708)

 

 

(3,691)

 

 

(10,277)

 

 

(7,901)

Net loss

 

(6,511)

 

 

(4,664)

 

 

(12,039)

 

 

(9,267)







 

 

 

 

 

 

June 30,

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

6,762 

 

$

7,533 

Total assets

 

39,638 

 

 

44,793 

Current liabilities

 

50,089 

 

 

41,712 

Total liabilities

 

74,162 

 

 

68,126 

Members’ equity

 

(34,524)

 

 

(23,333)