Investments in Affiliates (Tables)

6 Months Ended

Jun. 30, 2019

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	June 30,		December 31,
	2019		2018
Telesat	$	94,406	$	24,574

Equity in Net (Loss) Income of Affiliates

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Telesat	$	41,278	$	(3,455)	$	83,282	$	1,639

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 June 30, 2019 and December 31, 2018 and for the three and six months ended June 30, 2019 and 2018 (in thousands):

	June 30,		December 31,
	2019		2018
Balance Sheet Data:
Current assets	$	741,714	$	628,125
Total assets		4,068,167		3,942,847
Current liabilities		118,201		139,401
Long-term debt, including current portion		2,756,055		2,764,599
Total liabilities		3,464,565		3,474,504
Shareholders’ equity		603,602		468,343

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Statement of Operations Data:
Revenues	$	172,995	$	164,114	$	340,639	$	348,980
Operating expenses		(30,405)		(26,933)		(68,384)		(57,536)
Depreciation, amortization and stock-based compensation		(54,093)		(48,287)		(107,891)		(96,786)
Other operating expense		(10)		(15)		(65)		(13)
Operating income		88,487		88,879		164,299		194,645
Interest expense		(46,492)		(42,520)		(93,335)		(87,608)
Foreign exchange gain (loss)		45,946		(45,777)		98,415		(109,078)
(Loss) gain on financial instruments		(21,263)		(1,767)		(36,375)		30,616
Other income		4,272		2,973		8,106		4,591
Income tax provision		(6,481)		(7,815)		(11,036)		(31,585)
Net income (loss)	$	64,469	$	(6,027)	$	130,074	$	1,581