XML 96 R79.htm IDEA: XBRL DOCUMENT v3.7.0.1
Selected Quarterly Financial Information (Schedule of Quarterly Financial Information) (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
[1]
Sep. 30, 2016
[1]
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
[1]
Sep. 30, 2015
Jun. 30, 2015
[1]
Mar. 31, 2015
[1]
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Selected Quarterly Financial Information [Abstract]                      
Operating loss $ (1,826) $ (1,709) $ (1,674) [1] $ (1,517) [1] $ (1,181) $ (1,652) [1] $ (2,080) $ (1,617) $ (6,726) $ (6,530) $ (5,330)
Loss from continuing operations before income taxes and equity in net income (loss) of affiliates (1,920) (1,858) (2,223) [1] (2,000) [1] (1,697) (1,806) [1] (4,781) (1,904) (8,001) (10,188) (8,030)
Equity in net income (loss)of affiliates (12,721) [2] 6,948 [2] 43,357 [1],[2] 46,494 [1],[2] (14,559) [2] (38,475) [1],[2] 25,087 [2] (76,845) [2] 84,078 (104,792) (1,502)
Income (loss) from continuing operations (12,082) [3] (3,821) [3] 32,654 [1],[3] 30,819 [1],[3] (1,681) [3] (3,347) [1],[3] 18,027 [3] (82,503) [3] 47,570 (69,504) (1,427)
Income (loss) from discontinued operations, net of tax provision (64) (71) (102) [1] (133) [1] (204) (208) [1] (227) (139) (370) (778) (24,402)
Net income (loss) attributable to Loral common shareholders $ (12,146) $ (3,892) $ 32,552 [1] $ 30,686 [1] $ (1,885) $ (3,555) [1] $ 17,800 $ (82,642) $ 47,200 $ (70,282) $ (25,829)
Basic income (loss) per share from continuing operations $ (0.39) $ (0.12) $ 1.06 [1] $ 1.00 [1] $ (0.05) $ (0.11) [1] $ 0.58 $ (2.67) $ 1.54 $ (2.25) $ (0.05)
Basic income (loss) per share from discontinued operations, net of tax         (0.01) (0.01) [1] (0.01)   (0.01) (0.03) (0.79)
Basic income (loss) per share (0.39) (0.12) 1.06 [1] 1.00 [1] (0.06) (0.12) [1] 0.57 (2.67) 1.53 (2.28) (0.84)
Diluted income (loss) per share from continuing operations (0.39) (0.12) 1.03 [1] 0.95 [1] (0.05) (0.11) [1] 0.56 (2.67) 1.50 (2.25) (0.05)
Diluted income (loss) per share from discontinued operations, net of tax         (0.01) (0.01) [1] (0.01)   (0.01) (0.03) (0.79)
Diluted income (loss) per share $ (0.39) $ (0.12) $ 1.03 [1] $ 0.95 [1] $ (0.06) $ (0.12) [1] $ 0.55 $ (2.67) $ 1.49 $ (2.28) $ (0.84)
Error corrections and prior period adjustments     $ 5,100 $ (2,100)   $ (3,500)          
[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] Amounts include equity in net income (loss) of affiliates of $5.1 million and $(3.5) million for the quarters ended June 30, 2016, and September 30, 2015, respectively, that should have been recognized in prior periods. Equity in net income of affiliates for the quarter ended March 31, 2016 does not include a loss of $2.1 million that was recognized in the quarter ended June 30, 2016. These adjustments, which related to our investment in Telesat, consisted primarily of foreign exchange gains and losses. The Company has not revised previously reported amounts based on its belief that the effect of such adjustments is not material to the quarterly financial statements taken as a whole.
[3] Variations in income from continuing operations among quarters in 2016 and 2015 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 or 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. Equity in net loss of affiliates for the quarters ended December 31, 2015 and September 30, 2015 included an impairment charge to reduce our investment in XTAR to its fair value.