Investments in Affiliates (Tables)

9 Months Ended

Sep. 30, 2021

Investments in and Advances to Affiliates [Line Items]

Investments in Affiliates

Investments in affiliates consist of (in thousands):

	September 30,		December 31,
	2021		2020
Telesat	$	241,499	$	192,664

Equity in Net (Loss) Income of Affiliates

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Telesat	$	(14,924)	$	49,645	$	44,969	$	9,086

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

	September 30,		December 31,
	2021		2020
Balance Sheet Data:
Current assets	$	1,304,567	$	703,210
Total assets		4,501,504		3,943,875
Current liabilities		150,873		129,849
Long-term debt		2,979,716		2,483,256
Total liabilities		3,597,358		3,140,747
Shareholders’ equity		904,146		803,128

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Statement of Operations Data:
Revenues	$	153,334	$	152,081	$	457,052	$	460,407
Operating expenses		(33,099)		(32,325)		(115,594)		(101,106)
Depreciation and amortization		(43,410)		(44,888)		(131,977)		(133,336)
Other operating expense		(23)		(26)		(587)		(182)
Operating income		76,802		74,842		208,894		225,783
Interest expense		(40,501)		(37,715)		(111,517)		(115,947)
Foreign exchange (loss) gain		(55,138)		48,943		908		(74,387)
Gain (loss) on financial instruments		3,955		246		7,749		(11,643)
Other (loss) income		(88)		527		(1,164)		4,865
Income tax provision		(10,590)		(9,053)		(38,273)		(18,509)
Net (loss) income	$	(25,560)	$	77,790	$	66,597	$	10,162