Investments in Affiliates (Tables)

3 Months Ended

Mar. 31, 2019

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	March 31,		December 31,
	2019		2018
Telesat	$	59,989	$	24,574

Equity in Net (Loss) Income of Affiliates

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

	Three Months Ended
	March 31,
	2019		2018
Telesat	$	42,004	$	5,094

Telesat Canada [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 as of March 31, 2019 and December 31, 2018 and for the three months ended March 31, 2019 and 2018 (in thousands):

	March 31,		December 31,
	2019		2018
Balance Sheet Data:
Current assets	$	699,031	$	628,125
Total assets		4,033,388		3,942,847
Current liabilities		141,528		139,401
Long-term debt, including current portion		2,760,180		2,764,599
Total liabilities		3,497,603		3,474,504
Shareholders’ equity		535,785		468,343

	Three Months Ended
	March 31,
	2019		2018
Statement of Operations Data:
Revenues	$	167,644	$	184,866
Operating expenses		(37,979)		(30,603)
Depreciation, amortization and stock-based compensation		(53,798)		(48,499)
Other operating (expense) income		(55)		2
Operating income		75,812		105,766
Interest expense		(46,843)		(45,088)
Foreign exchange gain (loss)		52,469		(63,301)
(Loss) gain on financial instruments		(15,112)		32,383
Other income		3,834		1,618
Income tax provision		(4,555)		(23,770)
Net income	$	65,605	$	7,608