Investments in Affiliates (Tables)

6 Months Ended

Jun. 30, 2020

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	June 30,		December 31,
	2020		2019
Telesat	$	63,234	$	90,184

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,
	2020		2019		2020		2019
Telesat	$	76,515	$	41,278	$	(40,559)	$	83,282

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, 2020 and December 31, 2019 and for the three and six months ended June 30, 2020 and 2019 (in thousands):

	June 30,		December 31,
	2020		2019
Balance Sheet Data:
Current assets	$	965,015	$	877,294
Total assets		4,016,324		4,130,337
Current liabilities		127,735		124,217
Long-term debt, including current portion		2,829,344		2,836,700
Total liabilities		3,443,905		3,504,594
Shareholders’ equity		572,419		625,743

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Statement of Operations Data:
Revenues	$	149,761	$	172,995	$	308,326	$	340,639
Operating expenses		(34,540)		(32,929)		(70,395)		(73,498)
Depreciation and amortization		(43,031)		(51,569)		(88,448)		(102,777)
Other operating income (expense)		11		(10)		(156)		(65)
Operating income		72,201		88,487		149,327		164,299
Interest expense		(36,685)		(46,492)		(78,232)		(93,335)
Foreign exchange gain (loss)		98,313		45,946		(123,330)		98,415
Loss on financial instruments		(4,884)		(21,263)		(11,889)		(36,375)
Other income		1,874		4,272		5,952		8,106
Income tax provision		(10,138)		(6,481)		(9,456)		(11,036)
Net income (loss)	$	120,681	$	64,469	$	(67,628)	$	130,074