Investments in Affiliates (Tables)

9 Months Ended

Sep. 30, 2019

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	September 30,		December 31,
	2019		2018
Telesat	$	86,725	$	24,574

Equity in Net (Loss) Income of Affiliates

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Telesat	$	8,784	$	55,095	$	92,066	$	56,734

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

	September 30,		December 31,
	2019		2018
Balance Sheet Data:
Current assets	$	808,838	$	628,125
Total assets		4,050,816		3,942,847
Current liabilities		118,149		139,401
Long-term debt, including current portion		2,753,787		2,764,599
Total liabilities		3,437,807		3,474,504
Shareholders’ equity		613,009		468,343

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Statement of Operations Data:
Revenues	$	180,180	$	174,010	$	520,819	$	522,990
Operating expenses		(26,443)		(34,268)		(94,827)		(91,804)
Depreciation, amortization and stock-based compensation		(54,854)		(47,946)		(162,745)		(144,732)
Other operating (expense) income		(45)		848		(110)		835
Operating income		98,838		92,644		263,137		287,289
Interest expense		(46,239)		(43,063)		(139,574)		(130,671)
Foreign exchange (loss) gain		(24,702)		42,784		73,713		(66,294)
(Loss) gain on financial instruments		(4,244)		(202)		(40,619)		30,414
Other income		4,497		3,204		12,603		7,795
Income tax provision		(15,548)		(7,605)		(26,584)		(39,190)
Net income	$	12,602	$	87,762	$	142,676	$	89,343