Summarized financial information concerning the reportable segments is as follows (in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Revenues
Satellite manufacturing:
External revenues	$	270,920		$	236,084		$	805,287		$	692,571
Intersegment revenues⁽¹⁾		9,385			32,761			56,108			109,425

Satellite manufacturing revenues		280,305			268,845			861,395			801,996
Satellite services revenues⁽²⁾		220,361			204,403			616,236			617,264

Operating segment revenues before eliminations		500,666			473,248			1,477,631			1,419,260
Intercompany eliminations⁽³⁾		—			—			—			(830	)
Affiliate eliminations⁽²⁾		(220,361	)		(204,403	)		(616,236	)		(617,264	)

Total revenues		280,305			268,845			861,395			801,166

Revenues included in income from discontinued operations		(280,305	)		(268,845	)		(861,395	)		(801,166	)

Revenues reported	$	—		$	—		$	—		$	—

Segment Adjusted EBITDA⁽⁴⁾
Satellite manufacturing	$	13,317		$	26,920		$	40,855		$	95,533
Satellite services⁽²⁾		169,989			157,229			473,263			476,274
Corporate⁽⁵⁾		(10,030	)		(3,774	)		(18,334	)		(11,969	)

Adjusted EBITDA before eliminations		173,276			180,375			495,784			559,838
Intercompany eliminations⁽³⁾		—			—			—			(279	)
Affiliate eliminations⁽²⁾		(169,989	)		(157,229	)		(473,263	)		(476,274	)

Adjusted EBITDA		3,287			23,146			22,521			83,285

Adjusted EBITDA from discontinued operations		(13,317	)		(26,920	)		(40,855	)		(95,254	)

Adjusted EBITDA from continuing operations		(10,030	)		(3,774	)		(18,334	)		(11,969	)

Reconciliation to Operating Income
Depreciation, Amortization and Stock-Based Compensation⁽⁴⁾
Satellite manufacturing		(8,652	)		(8,473	)		(25,067	)		(24,017	)
Satellite services⁽²⁾		(65,291	)		(63,131	)		(186,788	)		(188,090	)
Corporate		(286	)		(302	)		(857	)		(874	)

Segment depreciation before affiliate eliminations		(74,229	)		(71,906	)		(212,712	)		(212,981	)
Affiliate eliminations⁽²⁾		65,291			63,131			186,788			188,090

Depreciation, amortization and stock-based compensation		(8,938	)		(8,775	)		(25,924	)		(24,891	)

Depreciation, amortization and stock-based compensation from discontinued operations		8,652			8,473			25,067			24,017

Depreciation, amortization and stock-based compensation as reported		(286	)		(302	)		(857	)		(874	)

Gain on disposition of net assets⁽⁶⁾		—			—			—			5,118

Operating (loss) income as reported	$	(10,316	)	$	(4,076	)	$	(19,191	)	$	(7,725	)


	September 30, 2012			December 31, 2011
Total Assets⁽⁷⁾
Satellite manufacturing	$	—		$	929,408
Satellite services^(2) (8)		5,387,975			5,724,418
Corporate		445,337			529,501

Total assets before affiliate eliminations		5,833,312			7,183,327
Affiliate eliminations⁽²⁾		(5,387,975	)		(5,347,174	)

Total assets excluding assets held for sale		445,337			1,836,153
Total assets classified as assets held for sale		959,536			—

Total assets as reported	$	1,404,873		$	1,836,153

⁽¹⁾	Intersegment revenues include $9.4 million and $32.8 million for the three months ended September 30, 2012 and 2011, respectively, and $56.1 million and $108.6 million for the nine months ended September 30, 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 10).

⁽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⁾	Represents the gain included in continuing operations on the sale of Loral’s portion of the payload on the ViaSat-1 satellite and related net assets to Telesat adjusted for elimination of Loral’s 64% ownership interest in Telesat.

⁽⁷⁾	Amounts are presented after the elimination of intercompany profit.

⁽⁸⁾	Includes $2.4 billion of satellite services goodwill related to Telesat as of September 30, 2012 and December 31, 2011.