Segments (Tables)

3 Months Ended

Mar. 31, 2011

Summarized Financial Information Of Reportable Segments


	Three Months Ended March 31,
	2012			2011
Revenues
Satellite manufacturing:
External revenues	$	262,496		$	237,655
Intersegment revenues⁽¹⁾		24,217			43,074

Satellite manufacturing revenues		286,713			280,729
Satellite services revenues⁽²⁾		196,023			205,722

Operating segment revenues before eliminations		482,736			486,451
Intercompany eliminations⁽³⁾		—			(830	)
Affiliate eliminations⁽²⁾		(196,023	)		(205,722	)

Total revenues as reported	$	286,713		$	279,899

Segment Adjusted EBITDA⁽⁴⁾
Satellite manufacturing	$	10,293		$	40,515
Satellite services⁽²⁾		149,408			158,947
Corporate⁽⁵⁾		(4,338	)		(4,798	)

Adjusted EBITDA before eliminations		155,363			194,664
Intercompany eliminations⁽³⁾		—			(279	)
Affiliate eliminations⁽²⁾		(149,408	)		(158,947	)

Adjusted EBITDA		5,955			35,438

Reconciliation to Operating Income
Depreciation, Amortization and Stock-Based Compensation⁽⁴⁾
Satellite manufacturing		(7,936	)		(7,691	)
Satellite services⁽²⁾		(60,488	)		(62,191	)
Corporate		(272	)		(295	)

Segment depreciation before affiliate eliminations		(68,696	)		(70,177	)
Affiliate eliminations⁽²⁾		60,488			62,191

Depreciation, amortization and stock-based compensation as reported		(8,208	)		(7,986	)

Operating (loss) income as reported	$	(2,253	)	$	27,452


	March 31, 2012			December 31, 2011
Total Assets⁽⁶⁾
Satellite manufacturing	$	973,496		$	929,408
Satellite services^{(2) (7)}		5,429,855			5,724,418
Corporate		890,803			529,501

Total assets before affiliate eliminations		7,294,154			7,183,327
Affiliate eliminations⁽²⁾		(5,420,132	)		(5,347,174	)

Total assets as reported	$	1,874,022		$	1,836,153

⁽¹⁾	Intersegment revenues include $24.2 million and $42.2 million for the three months ended March 31, 2012 and 2011, respectively, of revenue from affiliates.

⁽²⁾	Satellite services represents Telesat. Affiliate eliminations represent the elimination of amounts attributable to Telesat whose results are reported under the equity method of accounting in our condensed consolidated statements of operations (see Note 9).

⁽³⁾	Represents the elimination of intercompany sales and intercompany Adjusted EBITDA for a satellite under construction by SS/L for Loral.

⁽⁴⁾

Compensation expense related to SS/L Phantom SARs and restricted stock units paid in cash or expected to be paid in cash is included in Adjusted EBITDA. Compensation expense related to SS/L Phantom SARs and restricted stock units paid in Loral common stock or expected to be paid in Loral common stock is included in depreciation, amortization and stock-based compensation.

⁽⁵⁾	Includes corporate expenses incurred in support of our operations and includes our equity investments in XTAR and Globalstar service providers.

⁽⁶⁾	Amounts are presented after the elimination of intercompany profit.

⁽⁷⁾	Includes $2.4 billion of satellite services goodwill related to Telesat as of March 31, 2012 and December 31, 2011.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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