Investments in Affiliates (Tables)

6 Months Ended

Jun. 30, 2021

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	June 30,		December 31,
	2021		2020
Telesat	$	248,371	$	192,664

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,
	2021		2020		2021		2020
Telesat	$	25,291	$	76,515	$	59,893	$	(40,559)

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, 2021 and December 31, 2020 and for the three and six months ended June 30, 2021 and 2020 (in thousands):

	June 30,		December 31,
	2021		2020
Balance Sheet Data:
Current assets	$	1,247,156	$	703,210
Total assets		4,527,918		3,943,875
Current liabilities		130,767		129,849
Long-term debt		2,978,805		2,483,256
Total liabilities		3,606,651		3,140,747
Shareholders’ equity		921,267		803,128

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Statement of Operations Data:
Revenues	$	153,664	$	149,761	$	303,718	$	308,326
Operating expenses		(50,955)		(33,465)		(82,495)		(68,781)
Depreciation and amortization		(45,854)		(43,031)		(88,567)		(88,448)
Other operating (expense) income		(69)		11		(564)		(156)
Operating income		56,786		73,276		132,092		150,941
Interest expense		(37,916)		(36,685)		(71,016)		(78,232)
Foreign exchange gain (loss)		28,619		98,313		56,046		(123,330)
Gain (loss) on financial instruments		2,209		(4,884)		3,794		(11,889)
Other (loss) income		(279)		799		(1,076)		4,338
Income tax provision		(10,773)		(10,138)		(27,683)		(9,456)
Net income (loss)	$	38,646	$	120,681	$	92,157	$	(67,628)