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

Investments in affiliates consist of (in thousands):





 

 

 

 

 

 

December 31,



2016

 

2015

Telesat

$

107,950 

 

$

         —

XTAR

 

         —

 

 

         —



$

107,950 

 

$

         —



Equity in Net (Loss) Income of Affiliates

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





 

 

 

 

 

 

 

 

 

Year Ended December 31,



2016

 

2015

 

2014

Telesat

$

84,078 

 

$

(74,329)

 

$

24,698 

XTAR

 

         —

 

 

(30,463)

 

 

(26,200)



$

84,078 

 

$

(104,792)

 

$

(1,502)



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 years ended December 31, 2016, 2015 and 2014 and as of December 31, 2016 and 2015 (in thousands):  







 

 

 

 

 

 

 

 



Year Ended December 31,

 

2016

 

2015

 

2014

Statement of Operations Data:

 

 

 

 

 

 

 

 

Revenues

$

703,131 

 

$

751,684 

 

$

837,440 

Operating expenses

 

(139,141)

 

 

(140,706)

 

 

(161,944)

Depreciation, amortization and stock-based compensation

 

(195,781)

 

 

(190,985)

 

 

(231,849)

Loss on disposition of long lived assets

 

(1,937)

 

 

(24)

 

 

(276)

Operating income

 

366,272 

 

 

419,969 

 

 

443,371 

Interest expense

 

(145,288)

 

 

(138,783)

 

 

(182,395)

Loss on refinancing

 

(12,246)

 

 

         —

 

 

         —

Foreign exchange gain (loss)

 

68,719 

 

 

(426,980)

 

 

(232,275)

Gain on financial instruments

 

974 

 

 

7,810 

 

 

70,872 

Other income

 

4,590 

 

 

3,672 

 

 

2,779 

Income tax provision

 

(58,772)

 

 

(74,447)

 

 

(60,954)

Net income (loss)

$

224,249 

 

$

(208,759)

 

$

41,398 



















 

 

 

 

 

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

678,361 

 

$

568,106 

Total assets

 

4,194,006 

 

 

4,009,352 

Current liabilities

 

154,173 

 

 

187,488 

Long-term debt, including current portion

 

2,877,950 

 

 

2,968,776 

Total liabilities

 

3,597,056 

 

 

3,635,918 

Shareholders’ equity

 

596,950 

 

 

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 years ended December 31, 2016, 2015 and 2014 and as of December 31, 2016 and 2015 (in thousands): 





 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2016

 

2015

 

2014

Statement of Operations Data:

 

 

 

 

 

 

 

 

Revenues

$

18,550 

 

$

25,852 

 

$

29,171 

Operating expenses

 

(24,123)

 

 

(31,933)

 

 

(31,367)

Depreciation and amortization

 

(8,589)

 

 

(8,874)

 

 

(9,257)

Operating loss

 

(14,162)

 

 

(14,955)

 

 

(11,453)

Net loss

 

(18,296)

 

 

(18,722)

 

 

(13,835)







 

 

 

 

 

 

December 31,



2016

 

2015

Balance Sheet Data:

 

 

 

 

 

Current assets

$

6,364 

 

$

7,533 

Total assets

 

36,008 

 

 

44,793 

Current liabilities

 

53,795 

 

 

41,712 

Total liabilities

 

75,395 

 

 

68,126 

Members’ equity

 

(39,387)

 

 

(23,333)