Investments in Affiliates (Tables)

3 Months Ended

Mar. 31, 2021

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	March 31,		December 31,
	2021		2020
Telesat	$	225,133	$	192,664

Equity in Net (Loss) Income of Affiliates

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

	Three Months Ended
	March 31,
	2021		2020
Telesat	$	34,602	$	(117,074)

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, 2021 and December 31, 2020 and for the three months ended March 31, 2021 and 2020 (in thousands):

	March 31,		December 31,
	2021		2020
Balance Sheet Data:
Current assets	$	759,747	$	703,210
Total assets		4,018,684		3,943,875
Current liabilities		157,117		129,849
Long-term debt		2,483,716		2,483,256
Total liabilities		3,158,126		3,140,747
Shareholders’ equity		860,558		803,128

	Three Months Ended
	March 31,
	2021		2020
Statement of Operations Data:
Revenues	$	150,054	$	158,565
Operating expenses		(31,540)		(35,316)
Depreciation and amortization		(42,713)		(45,417)
Other operating expense		(495)		(167)
Operating income		75,306		77,665
Interest expense		(33,100)		(41,547)
Foreign exchange gain (loss)		27,427		(221,643)
Gain (loss) on financial instruments		1,585		(7,005)
Other (loss) income		(797)		3,539
Income tax (provision) benefit		(16,910)		682
Net income (loss)	$	53,511	$	(188,309)