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Investments in Affiliates (Tables)
6 Months Ended
Jun. 30, 2017
Investments in and Advances to Affiliates [Line Items]  
Investments in Affiliates

Investments in affiliates consist of (in thousands):









 

 

 

 

 

 

June 30,

 

December 31,



2017

 

2016

Telesat

$

         —

 

$

107,950 



Equity in Net (Loss) Income of Affiliates

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







 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,



2017

 

2016

 

2017

 

2016

Telesat

$

         —

 

$

43,357 

 

$

139,714 

 

$

89,851 



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 and six months ended June 30, 2017 and 2016 and as of June 30, 2017 and December 31, 2016 (in thousands): 







 

 

 

 

 

 

 

 

 

 

 



Three Months Ended June 30,

 

Six Months Ended June 30,

 

2017

 

2016

 

2017

 

2016

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

167,538 

 

$

180,012 

 

$

344,649 

 

$

350,513 

Operating expenses

 

(36,477)

 

 

(35,658)

 

 

(78,149)

 

 

(68,227)

Depreciation, amortization and stock-based compensation

 

(47,637)

 

 

(50,378)

 

 

(96,134)

 

 

(97,391)

Gain (loss) on disposition of long lived asset

 

 

 

(96)

 

 

(16)

 

 

(1,913)

Operating income

 

83,426 

 

 

93,880 

 

 

170,350 

 

 

182,982 

Interest expense

 

(37,071)

 

 

(35,149)

 

 

(73,864)

 

 

(70,351)

Foreign exchange gain

 

72,309 

 

 

18,364 

 

 

90,160 

 

 

154,271 

(Loss) gain on financial instruments

 

(7,316)

 

 

6,666 

 

 

(10,929)

 

 

(5,951)

Other (expense) income

 

(997)

 

 

929 

 

 

(852)

 

 

1,783 

Income tax provision

 

(9,619)

 

 

(15,049)

 

 

(19,457)

 

 

(26,069)

Net income

$

100,732 

 

$

69,641 

 

$

155,408 

 

$

236,665 







 

 

 

 

 

 

June 30,

 

December 31,



2017

 

2016

Balance Sheet Data:

 

 

 

 

 

Current assets

$

346,596 

 

$

678,361 

Total assets

 

3,917,216 

 

 

4,194,006 

Current liabilities

 

133,306 

 

 

154,173 

Long-term debt, including current portion

 

2,839,143 

 

 

2,877,950 

Total liabilities

 

3,549,520 

 

 

3,597,056 

Shareholders’ equity

 

367,696 

 

 

596,950 



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, 2017 and 2016 and as of June 30, 2017 and December 31, 2016 (in thousands): 





 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2017

 

2016

 

2017

 

2016

Statement of Operations Data:

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

3,826 

 

$

4,422 

 

$

7,523 

 

$

10,300 

Operating expenses

 

(3,964)

 

 

(7,938)

 

 

(7,945)

 

 

(16,193)

Depreciation and amortization

 

(1,659)

 

 

(2,192)

 

 

(3,317)

 

 

(4,384)

Operating loss

 

(1,797)

 

 

(5,708)

 

 

(3,739)

 

 

(10,277)

Net loss

 

(3,429)

 

 

(6,511)

 

 

(6,702)

 

 

(12,039)







 

 

 

 

 

 

June 30,

 

December 31,



2017

 

2016

Balance Sheet Data:

 

 

 

 

 

Current assets

$

5,567 

 

$

6,364 

Total assets

 

31,895 

 

 

36,008 

Current liabilities

 

57,331 

 

 

53,795 

Total liabilities

 

76,436 

 

 

75,395 

Members’ deficit

 

(44,541)

 

 

(39,387)