Loral Space & Communications 10-Q 7 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 05, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity File Number	1-14180
Entity Registrant Name	Loral Space & Communications Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0748324
Entity Address, Address Line One	600 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10020
City Area Code	212
Local Phone Number	697-1105
Title of 12(b) Security	Voting Common stock, $.01 par value
Trading Symbol	LORL
Security Exchange Name	NASDAQ
Entity Central Index Key	0001006269
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Voting Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		21,427,078
Non-Voting Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,505,673

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 81,626	$ 259,067
Income tax refund receivable	1,188	576
Other current assets	1,265	1,322
Total current assets	84,079	260,965
Right-of-use asset	671	988
Income tax refund receivable, non-current	0	387
Investments in affiliates	63,234	90,184
Deferred tax assets	38,105	37,945
Other assets	340	341
Total assets	186,429	390,810
Current liabilities:
Accrued employment costs	1,802	2,611
Other current liabilities	2,474	2,883
Total current liabilities	4,276	5,494
Pension and other postretirement liabilities	16,499	17,447
Other liabilities	19,423	17,842
Total liabilities	40,198	40,783
Commitments and contingencies
Shareholders' Equity:
Preferred stock, 0.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common Stock:
Paid-in capital	1,019,988	1,019,988
Accumulated deficit	(823,673)	(605,766)
Accumulated other comprehensive loss	(40,803)	(54,914)
Total shareholders' equity	146,231	350,027
Total liabilities and shareholders' equity	186,429	390,810
Voting Common Stock [Member]
Common Stock:
Common stock, 0.01 par value	216	216
Treasury stock (at cost), 154,494 shares of voting common stock	(9,592)	(9,592)
Non-Voting Common Stock [Member]
Common Stock:
Common stock, 0.01 par value	$ 95	$ 95

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Voting Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	21,581,572	21,581,572
Treasury stock, shares	154,494	154,494
Non-Voting Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	9,505,673	9,505,673
Shares issued and outstanding	9,505,673	9,505,673

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Consolidated Statements of Operations and Comprehensive (loss) Income [Abstract]
General and administrative expenses	$ (1,801)	$ (1,697)	$ (3,449)	$ (3,500)
Operating income (loss)	(1,801)	(1,697)	(3,449)	(3,500)
Interest and investment income	92	1,566	1,029	3,168
Interest expense	(6)	(5)	(11)	(10)
Other expense	(2,703)	(755)	(4,140)	(1,971)
Income (loss) before income taxes and equity in net income (loss) of affiliates	(4,418)	(891)	(6,571)	(2,313)
Income tax (provision) benefit	1,469	(2,160)	(647)	(4,226)
Income (loss) before equity in net income (loss) of affiliates	(2,949)	(3,051)	(7,218)	(6,539)
Equity in net (loss) income of affiliates	76,515	41,278	(40,559)	83,282
Net (loss) income	73,566	38,227	(47,777)	76,743
Other comprehensive income (loss), net of tax	(17,179)	(6,646)	14,111	(13,052)
Comprehensive (loss) income	$ 56,387	$ 31,581	$ (33,666)	$ 63,691
Net (loss) income per share:
Basic	$ 2.38	$ 1.24	$ (1.54)	$ 2.48
Diluted	$ 2.36	$ 1.23	$ (1.54)	$ 2.46
Weighted average common shares outstanding:
Basic	30,933	30,933	30,933	30,933
Diluted	31,017	31,008	30,933	31,008

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Voting Common Stock [Member]Common Stock [Member]	Non-Voting Common Stock [Member]Common Stock [Member]	Paid-In Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2018	$ 216	$ 95	$ 1,019,988	$ (9,592)	$ (695,521)	$ (17,620)	$ 297,566
Balance, shares at Dec. 31, 2018	21,582	9,506		154
Net (loss) income					38,516
Other comprehensive income (loss)						(6,406)
Comprehensive (loss) income							32,110
Balance at Mar. 31, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(657,005)	(24,026)	329,676
Balance, shares at Mar. 31, 2019	21,582	9,506		154
Balance at Dec. 31, 2018	$ 216	$ 95	1,019,988	$ (9,592)	(695,521)	(17,620)	297,566
Balance, shares at Dec. 31, 2018	21,582	9,506		154
Net (loss) income							76,743
Other comprehensive income (loss)							(13,052)
Comprehensive (loss) income							63,691
Balance at Jun. 30, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(618,778)	(30,672)	361,257
Balance, shares at Jun. 30, 2019	21,582	9,506		154
Balance at Dec. 31, 2018	$ 216	$ 95	1,019,988	$ (9,592)	(695,521)	(17,620)	297,566
Balance, shares at Dec. 31, 2018	21,582	9,506		154
Other comprehensive income (loss)						(37,294)
Balance at Dec. 31, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(605,766)	(54,914)	350,027
Balance, shares at Dec. 31, 2019	21,582	9,506		154
Balance at Mar. 31, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(657,005)	(24,026)	329,676
Balance, shares at Mar. 31, 2019	21,582	9,506		154
Net (loss) income					38,227		38,227
Other comprehensive income (loss)						(6,646)	(6,646)
Comprehensive (loss) income							31,581
Balance at Jun. 30, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(618,778)	(30,672)	361,257
Balance, shares at Jun. 30, 2019	21,582	9,506		154
Net (loss) income					13,012
Other comprehensive income (loss)						(24,242)
Comprehensive (loss) income							(11,230)
Balance at Dec. 31, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(605,766)	(54,914)	350,027
Balance, shares at Dec. 31, 2019	21,582	9,506		154
Net (loss) income					(121,343)
Other comprehensive income (loss)						31,290
Comprehensive (loss) income							(90,053)
Balance at Mar. 31, 2020	$ 216	$ 95	1,019,988	$ (9,592)	(727,109)	(23,624)	259,974
Balance, shares at Mar. 31, 2020	21,582	9,506		154
Balance at Dec. 31, 2019	$ 216	$ 95	1,019,988	$ (9,592)	(605,766)	(54,914)	350,027
Balance, shares at Dec. 31, 2019	21,582	9,506		154
Net (loss) income							(47,777)
Other comprehensive income (loss)						14,111	14,111
Comprehensive (loss) income							(33,666)
Balance at Jun. 30, 2020	$ 216	$ 95	1,019,988	$ (9,592)	(823,673)	(40,803)	146,231
Balance, shares at Jun. 30, 2020	21,582	9,506		154
Balance at Mar. 31, 2020	$ 216	$ 95	1,019,988	$ (9,592)	(727,109)	(23,624)	259,974
Balance, shares at Mar. 31, 2020	21,582	9,506		154
Net (loss) income					73,566		73,566
Other comprehensive income (loss)						(17,179)	(17,179)
Comprehensive (loss) income							56,387
Common dividends paid ($5.50 per share)					(170,130)		(170,130)
Balance at Jun. 30, 2020	$ 216	$ 95	$ 1,019,988	$ (9,592)	$ (823,673)	$ (40,803)	$ 146,231
Balance, shares at Jun. 30, 2020	21,582	9,506		154

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical)	May 28, 2020$ / shares
Consolidated Statements of Shareholders' Equity [Abstract]
Common dividend paid per share	$ 5.50

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net (loss) income	$ (47,777)	$ 76,743
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Non-cash operating items (Note 2)	40,900	(79,449)
Changes in operating assets and liabilities:
Other current assets	56	(419)
Accrued employment costs and other current liabilities	(570)	(1,476)
Income taxes receivable and payable	(898)	2,998
Pension and other postretirement liabilities	(948)	(115)
Other liabilities	1,926	720
Net cash provided by (used in) operating activities - continuing operations	(7,311)	(998)
Net cash provided by (used in) operating activities - discontinued operations	0	1,737
Net cash provided by (used in) operating activities	(7,311)	739
Financing activities:
Dividend paid	(170,130)	0
Net cash (used in) provided by financing activities - continuing operations	(170,130)	0
Net cash provided by financing activities - discontinued operations	0	0
Net cash (used in) provided by financing activities	(170,130)	0
Cash, cash equivalents and restricted cash (Note 2) - period increase (decrease)	(177,441)	739
Cash, cash equivalents and restricted cash (Note 2) - beginning of year	259,371	257,251
Cash, cash equivalents and restricted cash - end of period	$ 81,930	$ 257,990

Organization and Principal Busi

Organization and Principal Business	6 Months Ended
	Jun. 30, 2020
Organization and Principal Business [Abstract]
Organization and Principal Business	1. Organization and Principal Business ​ Loral Space & Communications Inc., together with its subsidiaries (“Loral,” the “Company,” “we,” “our” and “us”) is a leading satellite communications company engaged, through our ownership interests in affiliates, in satellite-based communications services. ​ Description of Business ​ Loral has one operating segment consisting of satellite-based communications services. Loral participates in satellite services operations primarily through its ownership interest in Telesat Canada (“Telesat”), a leading global satellite operator. Loral holds a 62.7% economic interest and a 32.6% voting interest in Telesat. We use the equity method of accounting for our ownership interest in Telesat (see Note 5). ​ Telesat owns and leases a satellite fleet that operates in geostationary earth orbit approximately 22,000 miles above the equator. In this orbit, satellites remain in a fixed position relative to points on the earth’s surface and provide reliable, high-bandwidth services anywhere in their coverage areas, serving as the backbone for many forms of telecommunications. Telesat is also developing a global constellation of low earth orbit (“LEO”) satellites. LEO satellites operate in a circular orbit around the earth with an altitude typically between 500 and 870 miles. Unlike geostationary orbit satellites that operate in a fixed orbital location above the equator, LEO satellites travel around the earth at high velocities requiring antennas on the ground to track their movement. LEO satellite systems have the potential to offer a number of advantages over geostationary orbit satellites to meet growing requirements for broadband services, both consumer and commercial, by providing increased data speeds and capacity, global coverage, and latency on par with, or potentially better than, terrestrial services.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Basis of Presentation [Abstract]
Basis of Presentation	2. Basis of Presentation ​ The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (“SEC”) and, in our opinion, include all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of results of operations, financial position and cash flows as of the balance sheet dates presented and for the periods presented. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules. We believe that the disclosures made are adequate to keep the information presented from being misleading. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for the full year. ​ The December 31, 2019 balance sheet has been derived from the audited consolidated financial statements at that date. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our latest Annual Report on Form 10-K filed with the SEC. ​ Investments in Affiliates ​ Our ownership interest in Telesat is accounted for using the equity method of accounting under U.S. GAAP. Telesat’s financial statements are prepared in accordance with international financial reporting standards (“IFRS”). To allow our reporting of our investment in Telesat under U.S. GAAP, Telesat provides us with a reconciliation of its financial statements from IFRS to U.S. GAAP. Income and losses of Telesat are recorded based on our economic interest. The contribution of Loral Skynet, a wholly owned subsidiary of Loral prior to its contribution to Telesat in 2007, was recorded by Loral at the historical book value of our retained interest combined with the gain recognized on the contribution. However, the contribution was recorded by Telesat at fair value. Accordingly, the amortization of Telesat fair value adjustments applicable to the Loral Skynet assets and liabilities acquired by Telesat in 2007 is proportionately eliminated in determining our share of the net income of Telesat. Our equity in net income or loss of Telesat also reflects amortization of profits eliminated, to the extent of our economic interest in Telesat, on satellites we constructed for Telesat while we owned Space Systems/Loral, LLC (formerly known as Space Systems/Loral, Inc.) (“SSL”) and on Loral’s sale to Telesat in April 2011 of its portion of the payload on the ViaSat-1 satellite and related assets. Non-refundable cash distributions received from Telesat in excess of our initial investment and our share of cumulative equity in comprehensive income of Telesat, net of cash distributions received in prior periods, are recorded as equity in net income of Telesat (“Excess Cash Distribution”) since we have no obligation to provide future financial support to Telesat. After receiving an Excess Cash Distribution, we do not record additional equity in net income of Telesat until our share of Telesat’s future net income exceeds the Excess Cash Distribution. Equity in losses of affiliates is not recognized after the carrying value of an investment, including advances and loans, has been reduced to zero, unless guarantees or other funding obligations exist. We had no guarantees or other funding obligations for our equity method investments as of June 30, 2020 and December 31, 2019. We use the nature of distribution approach to classify distributions from equity method investments on the statements of cash flows. The Company monitors its equity method investments for factors indicating other-than-temporary impairment. An impairment loss is recognized when there has been a loss in value of the affiliate that is other-than-temporary. Use of Estimates in Preparation of Financial Statements ​ The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amount of income (loss) reported for the period. Actual results could materially differ from estimates. ​ Significant estimates also included the allowances for doubtful accounts, income taxes, including the valuation of deferred tax assets, the fair value of liabilities indemnified, the dilutive effect of Telesat stock options (see Note 10) and our pension liabilities. ​ Cash, Cash Equivalents and Restricted Cash ​ As of June 30, 2020, the Company had $81.6 million of cash and cash equivalents. Cash and cash equivalents include liquid investments, primarily money market funds, with maturities of less than 90 days at the time of purchase. Management determines the appropriate classification of its investments at the time of purchase and at each balance sheet date. ​ On April 30, 2020, our Board of Directors declared a special dividend of $5.50 per share for an aggregate dividend of $170.1 million. The special dividend was paid on May 28, 2020 to holders of record of Loral voting and non-voting common stock as of the close of business on May 14, 2020. ​ As of June 30, 2020 and December 31, 2019, the Company had restricted cash of $0.3 million, representing the amount pledged as collateral to the issuer of a standby letter of credit (the “LC”). The LC, which expires in August 2021, has been provided as a guaranty to the lessor of our corporate offices. ​ The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet to the condensed consolidated statement of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Cash and cash equivalents $ 81,626 ​ $ 259,067 Restricted cash included in other assets ​ 304 ​ ​ 304 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 81,930 ​ $ 259,371 ​ ​ Concentration of Credit Risk ​ Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents and receivables. Our cash and cash equivalents are maintained with high-credit-quality financial institutions. As of June 30, 2020, our cash and cash equivalents were invested primarily in two liquid Government AAA money market funds. As of December 31, 2019, our cash and cash equivalents were invested primarily in several liquid Prime and Government AAA money market funds. Such funds are not insured by the Federal Deposit Insurance Corporation. The dispersion across funds reduces the exposure of a default at any one fund. As a result, management believes that its potential credit risks are minimal. ​ Fair Value Measurements ​ U.S. GAAP defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants. U.S. GAAP also establishes a fair value hierarchy that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. The three levels of the fair value hierarchy are described below: ​ Level 1: ​ Level 2: ​ Level 3: ​ Assets and Liabilities Measured at Fair Value ​ The following table presents our assets and liabilities measured at fair value on a recurring and non-recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Level 1 ​ Level 2 ​ Level 3 ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds $ 78,639 ​ $ — ​ $ — ​ $ 256,915 ​ $ — ​ $ — Other current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Sale of SSL ​ — ​ ​ — ​ ​ 598 ​ ​ — ​ ​ — ​ ​ 598 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Globalstar do Brasil S.A. $ — ​ $ — ​ $ 145 ​ $ — ​ $ — ​ $ 145 ​ The carrying amount of money market funds approximates fair value as of each reporting date because of the short maturity of those instruments. ​ The Company did not have any non-financial assets or non-financial liabilities that were recognized or disclosed at fair value as of June 30, 2020 and December 31, 2019. ​ Assets and Liabilities Measured at Fair Value on a Non-recurring Basis ​ We review the carrying values of our equity method investments when events and circumstances warrant and consider all available evidence in evaluating when declines in fair value are other-than-temporary. The fair values of our investments are determined based on valuation techniques using the best information available and may include quoted market prices, market comparables and discounted cash flow projections. An impairment charge is recorded when the carrying amount of the investment exceeds its current fair value and is determined to be other-than-temporary. ​ The asset resulting from the indemnification of SSL is for certain pre-closing taxes and reflects the excess of payments since inception over refunds and the estimated liability, which was originally determined using the fair value objective approach. The estimated liability for indemnifications relating to Globalstar do Brasil S.A. (“GdB”), originally determined using expected value analysis, is net of payments since inception. ​ Contingencies ​ Contingencies by their nature relate to uncertainties that require management to exercise judgment both in assessing the likelihood that a liability has been incurred as well as in estimating the amount of potential loss, if any. We accrue for costs relating to litigation, claims and other contingent matters when such liabilities become probable and reasonably estimable. Such estimates may be based on advice from third parties or on management’s judgment, as appropriate. Actual amounts paid may differ from amounts estimated, and such differences will be charged to operations in the period in which the final determination of the liability is made. ​ Income Taxes Loral and its subsidiaries are subject to U.S. federal, state and local income taxation on their worldwide income and foreign taxation on certain income from sources outside the United States. Telesat is subject to tax in Canada and other jurisdictions, and Loral will provide in each period any additional U.S. current and deferred tax required on actual or deemed distributions from Telesat, including Global Intangible Low Taxed Income (“GILTI”). Deferred income taxes reflect the future tax effect of temporary differences between the carrying amount of assets and liabilities for financial and income tax reporting and are measured by applying anticipated statutory tax rates in effect for the year during which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent it is more likely than not that the deferred tax assets will not be realized. ​ The tax benefit of an uncertain tax position (“UTP”) taken or expected to be taken in income tax returns is recognized only if it is “more likely than not” to be sustained on examination by the taxing authorities, based on its technical merits as of the reporting date. The tax benefit recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income taxes in income tax expense on a quarterly basis. ​ The unrecognized tax benefit of a UTP is recognized in the period when the UTP is effectively settled. Previously recognized tax positions are derecognized in the first period in which it is no longer more likely than not that the tax position would be sustained upon examination. ​ Earnings per Share Basic earnings per share are computed based upon the weighted average number of shares of voting and non-voting common stock outstanding during each period. Shares of non-voting common stock are in all respects identical to and treated equally with shares of voting common stock except for the absence of voting rights (other than as provided in Loral’s Amended and Restated Certificate of Incorporation which was ratified by Loral’s stockholders on May 19, 2009). Diluted earnings per share are based on the weighted average number of shares of voting and non-voting common stock outstanding during each period, adjusted for the effect of unconverted restricted stock units. For diluted earnings per share, earnings are adjusted for the dilutive effect of Telesat stock options and restricted share units. ​ ​ Recent Accounting Pronouncements ​ In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. ​ In February 2016, the FASB amended the Accounting Standards Codification (“ASC”) by creating ASC Topic 842, Leases January 1, 2019 ​ Additional Cash Flow Information ​ The following represents non-cash activities and supplemental information to the condensed consolidated statements of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ June 30, ​ 2020 ​ 2019 Non-cash operating items: ​ ​ ​ ​ ​ Equity in net loss (income) of affiliates $ 40,559 ​ $ (83,282) Deferred taxes ​ (300) ​ ​ 3,308 Depreciation and amortization ​ 2 ​ ​ 8 Right-of-use asset, net of lease liability ​ (3) ​ ​ 16 Amortization of prior service credit and actuarial loss ​ 642 ​ ​ 501 Net non-cash operating items $ 40,900 ​ $ (79,449) Supplemental information: ​ ​ ​ ​ ​ Interest paid $ 11 ​ $ 10 Income tax refunds $ 178 ​ $ 2,980 Income tax payments $ 126 ​ $ 163 ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	3. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of tax, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in ​ ​ ​ ​ Pension and ​ Telesat-related ​ Accumulated ​ Other ​ Other ​ Other ​ Post-retirement ​ Comprehensive ​ Comprehensive ​ Benefits ​ Loss ​ Loss Balance, January 1, 2019 $ (14,656) ​ $ (2,964) ​ $ (17,620) ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss before reclassification ​ (2,307) ​ ​ (35,783) ​ ​ (38,090) Amounts reclassified from accumulated other comprehensive loss ​ 796 ​ ​ — ​ ​ 796 Net current-period other comprehensive loss ​ (1,511) ​ ​ (35,783) ​ ​ (37,294) Balance, December 31, 2019 ​ (16,167) ​ ​ (38,747) ​ ​ (54,914) ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassification ​ — ​ ​ 13,603 ​ ​ 13,603 Amounts reclassified from accumulated other comprehensive loss ​ 508 ​ ​ — ​ ​ 508 Net current-period other comprehensive income ​ 508 ​ ​ 13,603 ​ ​ 14,111 Balance, June 30, 2020 $ (15,659) ​ $ (25,144) ​ $ (40,803) ​ The components of other comprehensive income (loss) and related tax effects are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ 2020 ​ ​ 2019 ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ Amount ​ Benefit ​ Amount ​ ​ Amount ​ Benefit ​ Amount Amortization of prior service credits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and net actuarial loss $ 340 (a) $ (71) ​ $ 269 ​ ​ $ 271 (a) $ (58) ​ $ 213 Equity in Telesat-related other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ comprehensive loss ​ (17,454) ​ ​ 6 ​ ​ (17,448) ​ ​ ​ (6,861) ​ ​ 2 ​ ​ (6,859) Other comprehensive loss $ (17,114) ​ $ (65) ​ $ (17,179) ​ ​ $ (6,590) ​ $ (56) ​ $ (6,646) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2020 ​ ​ 2019 ​ Before-Tax ​ Tax ​ Net-of-Tax ​ ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ Amount ​ Provision ​ Amount ​ ​ Amount ​ Benefit ​ Amount Amortization of prior service credits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and net actuarial loss $ 642 (a) $ (134) ​ $ 508 ​ ​ $ 501 (a) $ (106) ​ $ 395 Equity in Telesat-related other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ comprehensive income (loss) ​ 13,609 ​ ​ (6) ​ ​ 13,603 ​ ​ ​ (13,450) ​ ​ 3 ​ ​ (13,447) Other comprehensive income (loss) $ 14,251 ​ $ (140) ​ $ 14,111 ​ ​ $ (12,949) ​ $ (103) ​ $ (13,052) ​ (a) Reclassifications are included in other expense.

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2020
Other Current Assets [Abstract]
Other Current Assets	4. Other Current Assets ​ Other current assets consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Indemnification receivable from SSL for pre-closing taxes (see Note 13) $ 598 ​ $ 598 Due from affiliates ​ 63 ​ ​ 186 Prepaid expenses ​ 592 ​ ​ 164 Other ​ 12 ​ ​ 374 ​ $ 1,265 ​ $ 1,322 ​

Investments in Affiliates

Investments in Affiliates	6 Months Ended
	Jun. 30, 2020
Investments in Affiliates [Abstract]
Investments in Affiliates	5. Investments in Affiliates ​ Investments in affiliates consist of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Telesat $ 63,234 ​ $ 90,184 ​ 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 ​ As of June 30, 2020 and December 31, 2019, we held a 62.7% economic interest and a 32.6% voting interest in Telesat. We use the equity method of accounting for our majority economic interest in Telesat because we own 32.6% of the voting stock and do not exercise control by other means to satisfy the U.S. GAAP requirement for treatment as a consolidated subsidiary. We have also concluded that Telesat is not a variable interest entity for which we are the primary beneficiary. Loral’s equity in net income or loss of Telesat is based on our proportionate share of Telesat’s results in accordance with U.S. GAAP and in U.S. dollars. Our proportionate share of Telesat’s net income or loss is based on our economic interest as our holdings consist of common stock and non-voting participating preferred shares that have all the rights of common stock with respect to dividends, return of capital and surplus distributions, but have no voting rights. ​ In addition to recording our share of equity in net loss of Telesat, we also recorded our share of equity in other comprehensive income of Telesat of $13.6 million for the six months ended June 30, 2020. ​ In the third quarter of 2019, we recorded an out-of-period correction to decrease our investment in Telesat and increase other comprehensive loss by $22.1 million. This non-cash adjustment was made to record the cumulative translation adjustment on our investment in Telesat from November 2007, when we first acquired our ownership interest in Telesat, to December 31, 2018. The adjustment resulted from translating our share of Telesat’s equity from Canadian dollars to U.S. dollars at historical foreign exchange rates in accordance with ASC 830, Foreign Currency Matters, Investments Equity Method and Joint Ventures ​ On January 1, 2019, Telesat adopted ASC 842, Leases, On October 11, 2019 , Telesat issued $550.0 million of 6.5% senior notes maturing in October 2027 . The 6.5% senior notes are effectively subordinated to Telesat’s secured indebtedness, including the obligations under its senior secured credit facilities and its 4.875% senior secured notes. ​ On October 11, 2019, Telesat used the net proceeds from the 6.5% senior notes offering together with available cash on hand to redeem its $500 million 8.875% senior notes due November 15, 2024 by repaying all outstanding amounts, including principal, redemption premium and discounted interest to November 15, 2019. ​ On December 6, 2019 , Telesat entered into amended senior secured credit facilities which provide for term loan borrowings of $1,908.5 million which mature in December 2026 and revolving credit facilities of up to $200 million (or Canadian dollar equivalent) which mature in December 2024 . Telesat also issued, through a private placement, $400 million of 4.875% senior secured notes which mature in June 2027 . ​ On December 6, 2019 , Telesat repaid all outstanding amounts, including related fees and expenses, under its former senior secured credit facilities. ​ The ability of Telesat to pay dividends or certain other restricted payments in cash to Loral is governed by applicable covenants in Telesat’s debt and shareholder agreements. Telesat’s credit agreement governing its senior secured credit facilities limits, among other items, Telesat’s ability to incur debt and make dividend payments if the total leverage ratio (“Total Leverage Ratio”) is above 4.50:1.00, with certain exceptions. As of June 30, 2020, Telesat’s Total Leverage Ratio was 4.99:1.00. Telesat is, however, permitted to pay annual consulting fees of $5.0 million to Loral in cash (see Note 14). 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 ​ Other We own 56% of XTAR, a joint venture between us and Hisdesat Servicios Estrategicos, S.A. (“Hisdesat”) of Spain. We account for our ownership interest in XTAR under the equity method of accounting because we do not control certain of its significant operating decisions. We have also concluded that XTAR is not a variable interest entity for which we are the primary beneficiary. As of June 30, 2020 and December 31, 2019, the carrying value of our investment in XTAR was zero. Beginning January 1, 2016, we discontinued providing for our allocated share of XTAR’s net losses as our investment was reduced to zero and we have no commitment to provide further financial support to XTAR. As of June 30, 2020, XTAR owned and operated an X-band satellite, XTAR–EUR (the “Satellite”) located at the 29° E.L. orbital slot (“the “Orbital Slot”). In addition, XTAR leased from Hisdesat 7.2 72MHz X-band transponders on the Spainsat satellite located at 30° W.L. (the “Transponder Lease”). For services provided by Loral, XTAR, until December 31, 2013, was charged a quarterly management fee under a management agreement with Loral (the “Loral Management Agreement”). As of June 30, 2020, the amount due to Loral under the Loral Management Agreement was $6.6 million, and we had an allowance of $6.6 million against this receivable. ​ On July 1, 2020, Loral, XTAR and Hisdesat restructured their relationship, including, among other things, the following: (i) Hisdesat purchased the Satellite and certain assets related to operation of the Satellite (the “Purchased Assets”) from XTAR; (ii) XTAR’s agreement with Hisdesat to operate the Satellite at the Orbital Slot was terminated and the rights and licenses to operate the Satellite at the Orbital Slot reverted to Hisdesat; (iii) the Transponder Lease was terminated; (iv) XTAR and Hisdesat entered into an agreement under which XTAR will continue to market and sell capacity on the Satellite and on the Spainsat satellite; (v) XTAR and Loral terminated the Loral Management Agreement; and (vi) Loral granted to Hisdesat an option to acquire for nominal consideration, subject to receipt of all required regulatory approvals, Loral’s membership interests in XTAR. On July 2, 2020, Loral received from XTAR $5.9 million from the proceeds of the sale of the Purchased Assets in full and final settlement of the past due receivable outstanding of $6.6 million under the Loral Management Agreement. The accounting for the full and final settlement of the past due receivable will be reflected in the Company’s financial statements for the third quarter of 2020. ​ As of June 30, 2020 and December 31, 2019, the Company also held an indirect ownership interest in a foreign company that currently serves as the exclusive service provider for Globalstar service in Mexico. The Company accounts for this ownership interest using the equity method of accounting. As of June 30, 2020 and December 31, 2019, the carrying value of this investment was zero. Loral has written-off its investment in this company and has no future funding requirements relating to this investment. Accordingly, there is no requirement for us to provide for our allocated share of this company’s net losses. This company is currently in the process of dissolution and liquidation in Mexico, and Loral believes that it will not have any liability associated with this company upon completion of this process.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2020
Other Current Liabilities [Abstract]
Other Current Liabilities	6. Other Current Liabilities Other current liabilities consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Operating lease liability $ 677 ​ $ 652 Due to affiliate ​ — ​ ​ 5 Accrued professional fees ​ 1,595 ​ ​ 1,419 Pension and other post-retirement liabilities ​ 77 ​ ​ 77 Income taxes payable ​ — ​ ​ 673 Accrued liabilities ​ 125 ​ ​ 57 ​ $ 2,474 ​ $ 2,883 ​

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Taxes [Abstract]
Income Taxes	7. Income Taxes The following summarizes our income tax benefit (provision) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Current income tax provision $ (400) ​ $ (316) ​ $ (947) ​ $ (918) Deferred income tax benefit (provision) ​ 1,869 ​ ​ (1,844) ​ ​ 300 ​ ​ (3,308) Income tax benefit (provision) $ 1,469 ​ $ (2,160) ​ $ (647) ​ $ (4,226) ​ For the six month periods ended June 30, 2020 and 2019, our income tax provision is computed by applying an expected effective annual tax rate against the pre-tax results for each period (after adjusting for certain tax items that are discrete to each period). For the three month periods ended June 30, 2020 and 2019, this amount is then reduced by the tax recorded for the three months ended March 31, 2020 and 2019. The current income tax provision for each period includes our anticipated income tax liability related to GILTI from Telesat and our provision for UTPs. The deferred income tax provision for each period includes the impact of equity in net income (loss) of affiliates from our condensed consolidated statement of operations and the periodic effect of our accounting for GILTI. ​ To the extent that profitability from operations is not sufficient to realize the benefit from our remaining net deferred tax assets, we would generate sufficient taxable income from the appreciated value of our Telesat investment in order to prevent federal net operating losses from expiring and realize the benefit of all remaining deferred tax assets. ​ The following summarizes amounts for UTPs included in our income tax benefit (provision) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Current provision for UTPs $ (332) ​ $ (277) ​ $ (808) ​ $ (737) Deferred benefit for UTPs ​ 72 ​ ​ 60 ​ ​ 172 ​ ​ 153 Tax provision for UTPs $ (260) ​ $ (217) ​ $ (636) ​ $ (584) ​ As of June 30, 2020, we had unrecognized tax benefits relating to UTPs of $43 million. The Company recognizes interest and penalties related to income taxes in income tax expense on a quarterly basis. As of June 30, 2020, we have accrued no penalties and approximately $2.8 million for the potential payment of tax-related interest. ​ With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for years prior to 2014. Earlier years related to certain foreign jurisdictions remain subject to examination. To the extent allowed by law, the tax authorities may have the right to examine prior periods where net operating losses were generated and carried forward, and make adjustments up to the amount of the net operating loss carryforward. While we intend to contest any future tax assessments for uncertain tax positions, no assurance can be provided that we would ultimately prevail. Pursuant to the purchase agreement for the sale of SSL, we are obligated to indemnify SSL for certain taxes related to periods prior to the closing of the transaction. As of June 30, 2020, if our positions are sustained by the taxing authorities, the Company’s income tax provision would be reduced by approximately $7.9 million. We do not anticipate any significant change to our unrecognized tax benefits during the next twelve months.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2020
Other Liabilities [Abstract]
Other Liabilities	8. Other Liabilities Other liabilities consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Operating lease liability $ — ​ $ 345 Indemnification liabilities - other (see Note 13) ​ 145 ​ ​ 145 Liabilities for uncertain tax positions ​ 19,278 ​ ​ 17,352 ​ $ 19,423 ​ $ 17,842 ​

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	9. Stock-Based Compensation Stock Plans The Loral amended and restated 2005 stock incentive plan (the “Stock Incentive Plan”) which allowed for the grant of several forms of stock-based compensation awards including stock options, stock appreciation rights, restricted stock, restricted stock units, stock bonuses and other stock-based awards, had a ten-year term and has expired. As of June 30, 2020 and December 31, 2019, outstanding and unconverted restricted stock units (“RSUs”) were 92,857 and 75,262, respectively, that are vested and do not expire. ​ On May 28, 2020, we paid a special dividend of $5.50 per share for an aggregate dividend of $170.1 million. In accordance with Loral’s Stock Incentive Plan, an equitable adjustment was made to outstanding stock-based awards to reflect the cash dividend. As a result, RSUs outstanding under the Stock Incentive Plan increased by 17,595 in the second quarter of 2020.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Net (loss) income per share:
Earnings Per Share	10. Earnings Per Share ​ Telesat has awarded employee stock options, which, if exercised, would result in dilution of Loral’s economic ownership interest in Telesat from 62.7% to approximately 62.3%. ​ The following table presents the dilutive impact of Telesat stock options on Loral’s reported net income for the purpose of computing diluted earnings per share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2019 Net income — basic $ 73,566 ​ $ 38,227 ​ $ 76,743 Less: Adjustment for dilutive effect of Telesat stock options ​ (398) ​ ​ (230) ​ ​ (484) Net income — diluted $ 73,168 ​ $ 37,997 ​ $ 76,259 ​ Telesat stock options are excluded from the calculation of diluted loss per share for the six months ended June 30, 2020 as the effect would be antidilutive. ​ Basic income per share is computed based upon the weighted average number of share of voting and non-voting common stock outstanding. The following is the computation of common shares outstanding for diluted earnings per share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2019 Weighted average common shares outstanding ​ 30,933 ​ ​ 30,933 ​ ​ 30,933 Unconverted restricted stock units ​ 84 ​ ​ 75 ​ ​ 75 Common shares outstanding for diluted earnings per share ​ 31,017 ​ ​ 31,008 ​ ​ 31,008 ​ ​ ​ ​ ​ ​ ​ ​ For the six months ended June 30, 2020, the following unconverted restricted stock units are excluded from the calculation of diluted loss per share as the effect would have been antidilutive (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, 2020 Unconverted restricted stock units ​ 84 ​

Pensions and Other Employee Ben

Pensions and Other Employee Benefit Plans	6 Months Ended
	Jun. 30, 2020
Pensions and Other Employee Benefit Plans [Abstract]
Pensions and Other Employee Benefit Plans	11. Pensions and Other Employee Benefit Plans The following tables provide the components of net periodic cost for our qualified retirement plan (the “Pension Benefits”) and health care and life insurance benefits for retired employees and dependents (the “Other Benefits”) for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Other Benefits ​ Three Months Ended ​ Three Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost (1) $ 171 ​ $ 183 ​ $ — ​ $ — Interest cost (2) ​ 443 ​ ​ 499 ​ ​ 4 ​ ​ 5 Expected return on plan assets (2) ​ (657) ​ ​ (609) ​ ​ — ​ ​ — Amortization of net actuarial loss (2) ​ 341 ​ ​ 272 ​ ​ (1) ​ ​ (1) Net periodic cost $ 298 ​ $ 345 ​ $ 3 ​ $ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Other Benefits ​ Six Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost (1) $ 352 ​ $ 361 ​ $ — ​ $ — Interest cost (2) ​ 883 ​ ​ 1,009 ​ ​ 8 ​ ​ 10 Expected return on plan assets (2) ​ (1,326) ​ ​ (1,216) ​ ​ — ​ ​ — Amortization of net actuarial loss (gain) (2) ​ 644 ​ ​ 503 ​ ​ (2) ​ ​ (2) Net periodic cost $ 553 ​ $ 657 ​ $ 6 ​ $ 8 ​ (1) Included in general and administrative expenses. (2) Included in other expense.

Financial Instruments, Derivati

Financial Instruments, Derivative Instruments and Hedging	6 Months Ended
	Jun. 30, 2020
Financial Instruments, Derivative Instruments and Hedging [Abstract]
Financial Instruments, Derivative Instruments and Hedging	12. Financial Instruments, Derivative Instruments and Hedging ​ Financial Instruments ​ The carrying amount of cash equivalents approximates fair value because of the short maturity of those instruments. ​ Foreign Currency ​ We are subject to the risks associated with fluctuations in foreign currency exchange rates. To limit this foreign exchange rate exposure, we attempt to denominate all contracts in U.S. dollars. Where appropriate, derivatives are used to minimize the risk of foreign exchange rate fluctuations to operating results and cash flows. We do not use derivative instruments for trading or speculative purposes. ​ Derivatives and Hedging Transactions ​ There were no derivative instruments as of June 30, 2020 and December 31, 2019.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Financial Matters In 2012, we sold our former subsidiary, SSL, to MDA Communications Holdings, Inc., a subsidiary of Maxar Technologies Inc. ​ In connection with the sale in 2008 by Loral and certain of its subsidiaries and DASA Globalstar LLC to Globalstar Inc. of their respective interests in GdB, the Globalstar Brazilian service provider, Loral agreed to indemnify Globalstar Inc. and GdB for certain GdB pre-closing liabilities, primarily related to Brazilian taxes. Our condensed consolidated balance sheets include liabilities of $0.1 million as of June 30, 2020 and December 31, 2019 for indemnification liabilities relating to the sale of GdB. ​ See Note 14 — Related Party Transactions — Transactions with Affiliates — Telesat ​ Lease Arrangements ​ We lease a facility and certain equipment under agreements expiring at various dates. We may renew, extend or modify the lease covering our facilities as needed. We have no sublease income in any of the periods presented. ​ We changed our method of accounting for leases in the first quarter of 2019 due to the adoption of ASC 842. We adopted ASC 842 as of January 1, 2019 using the modified retrospective transition method and elected to apply the transition as of the beginning of the period of adoption. ​ ​ Upon adoption of ASC 842, we recognized a right-of-use asset ​ Lease costs expensed for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Rent Expense $ 173 ​ $ 171 ​ $ 347 ​ $ 334 ​ Lease payments for the six months ended June 30, 2020 were $0.4 million. The remaining lease term as of June 30, 2020 is 12 months and we used a discount rate of 7.5% to compute the lease liability. ​ The following is a reconciliation of the lease liability to future lease payments as of June 30, 2020 (in thousands): ​ ​ ​ ​ 2020 (July 1, 2020 to December 31, 2020) $ 350 2021 (January 1, 2021 to June 30, 2021) ​ 350 Total operating lease payments ​ 700 Less: Interest ​ (23) Operating lease liability $ 677 ​ ​ ​ Amounts recognized in Balance Sheet ​ ​ Other current liabilities $ 677 ​ Legal Proceedings ​ We are not currently subject to any legal proceedings that, if decided adversely, could have a material adverse effect on our financial position or results of operations. In the future, however, we may become subject to legal proceedings and claims, either asserted or unasserted, that may arise in the ordinary course of business or otherwise.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	14. Related Party Transactions MHR Fund Management LLC Mark H. Rachesky, President and Chief Investment Officer of MHR Fund Management LLC (“MHR”), and Janet T. Yeung, a principal and the General Counsel of MHR, are members of Loral’s board of directors. Various funds affiliated with MHR and Dr. Rachesky held, as of June 30, 2020 and December 31, 2019, approximately 39.9% of the outstanding voting common stock and 58.4% of the combined outstanding voting and non-voting common stock of Loral. ​ Transactions with Affiliates ​ Telesat ​ As described in Note 5, we own a 62.7% economic interest and a 32.6% voting interest in Telesat and account for our ownership interest under the equity method of accounting. ​ In connection with the acquisition of our ownership interest in Telesat (which we refer to as the Telesat transaction), Loral and certain of its subsidiaries, our Canadian co-owner, Public Sector Pension Investment Board (“PSP”) and one of its subsidiaries, Telesat and MHR entered into a Shareholders Agreement (the “Shareholders Agreement”). The Shareholders Agreement provides for, among other things, the manner in which the affairs of Telesat and its subsidiaries will be conducted and the relationships among the parties thereto and future shareholders of Telesat. The Shareholders Agreement also contains an agreement by Loral not to engage in a competing satellite communications business and agreements by the parties to the Shareholders Agreement not to solicit employees of Telesat or any of its subsidiaries. Additionally, the Shareholders Agreement details the matters requiring the approval of the shareholders of Telesat (including veto rights for Loral over certain extraordinary actions) and provides for preemptive rights for certain shareholders upon the issuance of certain capital shares of Telesat. The Shareholders Agreement also (i) restricts the ability of holders of certain shares of Telesat to transfer such shares unless certain conditions are met or approval of the transfer is granted by the directors of Telesat, (ii) provides for a right of first offer to certain Telesat shareholders if a holder of equity shares of Telesat wishes to sell any such shares to a third party and (iii) provides for, in certain circumstances, tag-along rights in favor of shareholders that are not affiliated with Loral if Loral sells equity shares and drag-along rights in favor of Loral in case Loral or its affiliate enters into an agreement to sell all of its Telesat equity securities. ​ In addition, the Shareholders Agreement provides for either PSP or Loral to initiate the process of conducting an initial public offering of the equity shares of Telesat (a “Telesat IPO”). In connection with our exploration of strategic initiatives to alter the status quo in our ownership of Telesat, in July 2015, we exercised our right under the Shareholders Agreement to require Telesat to conduct a Telesat IPO. Specifically, we requested that Telesat issue not more than 25 million newly issued shares of Telesat voting common stock. We also requested the termination of the Shareholders Agreement and the elimination of certain provisions in Telesat’s Articles of Incorporation, both of which we believe are important for a successful public offering. If those provisions are eliminated, an impediment to the conversion of our non-voting Telesat shares to voting shares would be eliminated. Termination or modification of the Shareholders Agreement and conversion of our non-voting shares to voting shares would enable us, after a Telesat IPO and subject to the receipt of any necessary regulatory approvals, to obtain majority voting control of Telesat. To date, we and PSP have not reached agreement on governance matters following a Telesat IPO. In the event a strategic transaction to combine Loral and Telesat into one public company that we are pursuing is not likely to be achievable in a timely manner or on satisfactory terms, we may further pursue our right to a Telesat IPO. There can be no assurance as to whether, when or on what terms a Telesat IPO, termination or modification of the Shareholders Agreement or any requested changes to Telesat’s Articles of Incorporation may occur or that any particular economic, tax, structural or other objectives or benefits with respect to a Telesat IPO will be achieved. If a Telesat IPO is expected to proceed under unfavorable terms or at an unfavorable price, we may withdraw our demand for a Telesat IPO. ​ Depending upon the outcome of discussions with PSP relating to Telesat strategic matters, we may assert certain claims against PSP for actions we believe violated our rights relating to the affairs of Telesat under the Telesat Shareholders Agreement and otherwise. In response to our claims, PSP has informed us that it believes that it may have claims against us, although we are not aware of the legal or factual basis for any such claims. We and PSP have agreed that, pending the outcome of our discussions, it would be beneficial to delay the commencement of any action relating to either party’s claims and have entered into an agreement (the “Tolling Agreement”) which preserves the parties’ rights to assert against one another legal claims relating to Telesat. We also included Telesat as a party to the Tolling Agreement because, as a technical matter of Canadian law and for purposes of potentially seeking equitable relief, Telesat may be a necessary party. There can be no assurance that if the Tolling Agreement lapses that we and PSP will not pursue legal claims against one another relating to Telesat. If we pursue claims against PSP, there can be no assurance that our claims will be successful or that the relief we seek will be granted. If PSP pursues claims against us, there can be no assurance that PSP will not prevail on its claims. ​ ​ Under the Shareholders Agreement, in the event that, except in certain limited circumstances, either (i) ownership or control, directly or indirectly, by Dr. Rachesky of Loral’s voting stock falls below certain levels other than in connection with certain specified circumstances, including an acquisition by a Strategic Competitor (as defined in the Shareholders Agreement) or (ii) there is a change in the composition of a majority of the members of the Loral Board of Directors over a consecutive two-year period without the approval of the incumbent directors, Loral will lose its veto rights relating to certain extraordinary actions by Telesat and its subsidiaries. In addition, after either of these events, PSP will have certain rights to enable it to exit from its investment in Telesat, including a right to cause Telesat to conduct an initial public offering in which PSP’s shares would be the first shares offered or, if no such offering has occurred within one year due to a lack of cooperation from Loral or Telesat, to cause the sale of Telesat and to drag along the other shareholders in such sale, subject to Loral’s right to call PSP’s shares at fair market value. ​ The Shareholders Agreement provides for a board of directors of Telesat consisting of 10 directors, three nominated by Loral, three nominated by PSP and four independent directors to be selected by a nominating committee comprised of one PSP nominee, one nominee of Loral and one of the independent directors then in office. Each party to the Shareholders Agreement is obligated to vote all of its Telesat shares for the election of the directors nominated by the nominating committee. Pursuant to action by the board of directors taken on October 31, 2007, Dr. Rachesky, who is non-executive Chairman of the Board of Directors of Loral, was appointed non-executive Chairman of the Board of Directors of Telesat. In addition, Michael B. Targoff, Loral’s Vice Chairman, serves on the board of directors of Telesat. ​ On October 31, 2007, Loral and Telesat entered into a consulting services agreement (the “Consulting Agreement”). Pursuant to the terms of the Consulting Agreement, Loral provides to Telesat certain non-exclusive consulting services in relation to the business of Loral Skynet which was transferred to Telesat as part of the Telesat transaction as well as with respect to certain aspects of the satellite communications business of Telesat. The Consulting Agreement has a term of seven-years with an automatic renewal for an additional seven-year term if Loral is not then in material default under the Shareholders Agreement. Upon expiration of the initial term on October 31, 2014, the Consulting Agreement was automatically renewed for the additional seven-year term. In exchange for Loral’s services under the Consulting Agreement, Telesat pays Loral an annual fee of $5.0 million, payable quarterly in arrears on the last day of March, June, September and December of each year during the term of the Consulting Agreement. Our general and administrative expenses are net of income related to the Consulting Agreement of $1.25 million for each of the three-month periods ended June 30, 2020 and 2019 and $2.5 million for each of the six-month periods ended June 30, 2020 and 2019. For each of the six-month periods ended June 30, 2020 and 2019, Loral received payments in cash from Telesat, net of withholding taxes, of $2.4 million for consulting fees. ​ In connection with the acquisition of our ownership interest in Telesat in 2007, Loral retained the benefit of tax recoveries related to the transferred assets and indemnified Telesat (“Telesat Indemnification”) for certain liabilities, including Loral Skynet’s tax liabilities arising prior to January 1, 2007. The Telesat Indemnification includes certain tax disputes currently under review in various jurisdictions including Brazil. The Brazilian tax authorities challenged Loral Skynet’s historical characterization of its revenue generated in Brazil for the years 2003 to 2006. Telesat received and challenged, on Loral Skynet’s behalf, tax assessments from Brazil totaling approximately $0.6 million. The Company believes that Loral Skynet’s filing position will ultimately be sustained requiring no payment under the Telesat Indemnification. There can be no assurance that there will be no future claims under the Telesat Indemnification related to tax disputes. ​ Loral’s employees and retirees participate in certain welfare plans sponsored or managed by Telesat. Loral pays Telesat an annual administrative fee of $0.1 million and reimburses Telesat for the plan costs attributable to Loral participants. Loral, along with Telesat, PSP and 4440480 Canada Inc., an indirect wholly-owned subsidiary of Loral (the “Special Purchaser”), entered into stock option grant agreements (the “Stock Option Grant Agreements”) and a restricted stock unit grant agreement (the “RSU Grant Agreement,” and, together with the Stock Option Grant Agreements, the “Grant Agreements”) with respect to shares in Telesat with certain executives of Telesat (each, a “Participant” and collectively, the “Participants”). Each of the Participants is or was, at the time, an executive of Telesat. ​ The Stock Option Grant Agreements document grants to the Participants of Telesat stock options (including tandem SAR rights) and provide for certain rights, obligations and restrictions related to such stock options, which include, among other things: (w) the possible obligation of the Special Purchaser to purchase the shares in the place of Telesat should Telesat be prohibited by applicable law or under the terms of any credit agreement applicable to Telesat from purchasing such shares, or otherwise default on such purchase obligation, pursuant to the terms of the Stock Option Grant Agreements; and (x) the obligation of the Special Purchaser to purchase shares upon exercise by Telesat of its call right under Telesat’s Management Stock Incentive Plan in the event of a Participant’s termination of employment; and, in the case of certain executives, (y) the right of each such Participant to require the Special Purchaser or Loral to purchase a portion of the shares in Telesat owned by him in the event of exercise after termination of employment to cover taxes that are greater than the minimum withholding amount; and (z) the right of each such Participant to require Telesat to cause the Special Purchaser or Loral to purchase a portion of the shares in Telesat owned by him, or that are issuable to him under Telesat's Management Stock Incentive Plan at the relevant time, in the event that more than 90% of Loral’s common stock is acquired by an unaffiliated third party that does not also purchase all of PSP’s and its affiliates’ interest in Telesat. The RSU Grant Agreement documents a grant to the Participant of restricted stock units with respect to shares in Telesat and provides for certain rights, obligations and restrictions related to such restricted stock units, which include, among other things: (x) the possible obligation of the Special Purchaser to purchase the shares in the place of Telesat should Telesat be prohibited by applicable law or under the terms of any credit agreement applicable to Telesat from purchasing such shares, or otherwise default on such purchase obligation, pursuant to the terms of the RSU Grant Agreement; and (y) the obligation of the Special Purchaser to purchase shares upon exercise by Telesat of its call right under Telesat’s Management Stock Incentive Plan in the event of the termination of the Participant’s employment. The Grant Agreements further provide that, in the event the Special Purchaser is required to purchase shares, such shares, together with the obligation to pay for such shares, shall be transferred to a subsidiary of the Special Purchaser, which subsidiary shall be wound up into Telesat, with Telesat agreeing to the acquisition of such subsidiary by Telesat from the Special Purchaser for nominal consideration and with the purchase price for the shares being paid by Telesat within ten (10) business days after completion of the winding-up of such subsidiary into Telesat. Other We own , a joint venture between Loral and Hisdesat and account for our investment in XTAR under the equity method of accounting. On July 1, 2020, Loral, XTAR and Hisdesat restructured their relationship (see Note 5). As part of the restructuring, XTAR and Loral terminated the Loral Management Agreement pursuant to which Loral provided general and specific services of a technical, financial and administrative nature to XTAR. For the services provided by Loral, XTAR, until December 31, 2013, was charged a quarterly management quarterly gross revenues. Amounts due to Loral primarily due to the Loral Management Agreement of June 30, 2020 and December 31, 2019, respectively. No cash was received under the Loral Management Agreement for the six months ended June 30, 2020 and 2019, and we had an against receivables from XTAR as of June 30, 2020 and December 31, 2019. On July 2, 2020, Loral received from XTAR $5.9 million in full and final settlement of the past due receivable outstanding of $6.6 million under the Loral Management Agreement. ​ Consulting Agreement On December 14, 2012, Loral entered into a consulting agreement with Michael B. Targoff, Vice Chairman of the Company and former Chief Executive Officer and President. Pursuant to this agreement, Mr. Targoff is engaged as a part-time consultant to the Board to assist the Board with respect to the oversight of strategic matters relating to Telesat and XTAR. Under the agreement, Mr. Targoff receives consulting fees of $120,000 per month and reimburses the Company for certain expenses. For each of the three and six month periods ended June 30, 2020 and 2019, Mr. Targoff earned consulting fees of $360,000 and $720,000, respectively, and reimbursed Loral net expenses of $11,250 and $22,500, respectively.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2020
Basis of Presentation [Abstract]
Investments in Affiliates	Investments in Affiliates ​ Our ownership interest in Telesat is accounted for using the equity method of accounting under U.S. GAAP. Telesat’s financial statements are prepared in accordance with international financial reporting standards (“IFRS”). To allow our reporting of our investment in Telesat under U.S. GAAP, Telesat provides us with a reconciliation of its financial statements from IFRS to U.S. GAAP. Income and losses of Telesat are recorded based on our economic interest. The contribution of Loral Skynet, a wholly owned subsidiary of Loral prior to its contribution to Telesat in 2007, was recorded by Loral at the historical book value of our retained interest combined with the gain recognized on the contribution. However, the contribution was recorded by Telesat at fair value. Accordingly, the amortization of Telesat fair value adjustments applicable to the Loral Skynet assets and liabilities acquired by Telesat in 2007 is proportionately eliminated in determining our share of the net income of Telesat. Our equity in net income or loss of Telesat also reflects amortization of profits eliminated, to the extent of our economic interest in Telesat, on satellites we constructed for Telesat while we owned Space Systems/Loral, LLC (formerly known as Space Systems/Loral, Inc.) (“SSL”) and on Loral’s sale to Telesat in April 2011 of its portion of the payload on the ViaSat-1 satellite and related assets. Non-refundable cash distributions received from Telesat in excess of our initial investment and our share of cumulative equity in comprehensive income of Telesat, net of cash distributions received in prior periods, are recorded as equity in net income of Telesat (“Excess Cash Distribution”) since we have no obligation to provide future financial support to Telesat. After receiving an Excess Cash Distribution, we do not record additional equity in net income of Telesat until our share of Telesat’s future net income exceeds the Excess Cash Distribution. Equity in losses of affiliates is not recognized after the carrying value of an investment, including advances and loans, has been reduced to zero, unless guarantees or other funding obligations exist. We had no guarantees or other funding obligations for our equity method investments as of June 30, 2020 and December 31, 2019. We use the nature of distribution approach to classify distributions from equity method investments on the statements of cash flows. The Company monitors its equity method investments for factors indicating other-than-temporary impairment. An impairment loss is recognized when there has been a loss in value of the affiliate that is other-than-temporary.
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements ​ The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amount of income (loss) reported for the period. Actual results could materially differ from estimates. ​ Significant estimates also included the allowances for doubtful accounts, income taxes, including the valuation of deferred tax assets, the fair value of liabilities indemnified, the dilutive effect of Telesat stock options (see Note 10) and our pension liabilities.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash ​ As of June 30, 2020, the Company had $81.6 million of cash and cash equivalents. Cash and cash equivalents include liquid investments, primarily money market funds, with maturities of less than 90 days at the time of purchase. Management determines the appropriate classification of its investments at the time of purchase and at each balance sheet date. ​ On April 30, 2020, our Board of Directors declared a special dividend of $5.50 per share for an aggregate dividend of $170.1 million. The special dividend was paid on May 28, 2020 to holders of record of Loral voting and non-voting common stock as of the close of business on May 14, 2020. ​ As of June 30, 2020 and December 31, 2019, the Company had restricted cash of $0.3 million, representing the amount pledged as collateral to the issuer of a standby letter of credit (the “LC”). The LC, which expires in August 2021, has been provided as a guaranty to the lessor of our corporate offices. ​ The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet to the condensed consolidated statement of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Cash and cash equivalents $ 81,626 ​ $ 259,067 Restricted cash included in other assets ​ 304 ​ ​ 304 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 81,930 ​ $ 259,371
Concentration of Credit Risk	Concentration of Credit Risk ​ Financial instruments which potentially subject us to concentrations of credit risk consist principally of cash and cash equivalents and receivables. Our cash and cash equivalents are maintained with high-credit-quality financial institutions. As of June 30, 2020, our cash and cash equivalents were invested primarily in two liquid Government AAA money market funds. As of December 31, 2019, our cash and cash equivalents were invested primarily in several liquid Prime and Government AAA money market funds. Such funds are not insured by the Federal Deposit Insurance Corporation. The dispersion across funds reduces the exposure of a default at any one fund. As a result, management believes that its potential credit risks are minimal.
Fair Value Measurements	Fair Value Measurements ​ U.S. GAAP defines fair value as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants. U.S. GAAP also establishes a fair value hierarchy that gives the highest priority to observable inputs and the lowest priority to unobservable inputs. The three levels of the fair value hierarchy are described below: ​ Level 1: ​ Level 2: ​ Level 3: ​ Assets and Liabilities Measured at Fair Value ​ The following table presents our assets and liabilities measured at fair value on a recurring and non-recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Level 1 ​ Level 2 ​ Level 3 ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds $ 78,639 ​ $ — ​ $ — ​ $ 256,915 ​ $ — ​ $ — Other current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Sale of SSL ​ — ​ ​ — ​ ​ 598 ​ ​ — ​ ​ — ​ ​ 598 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Globalstar do Brasil S.A. $ — ​ $ — ​ $ 145 ​ $ — ​ $ — ​ $ 145 ​ The carrying amount of money market funds approximates fair value as of each reporting date because of the short maturity of those instruments. ​ The Company did not have any non-financial assets or non-financial liabilities that were recognized or disclosed at fair value as of June 30, 2020 and December 31, 2019. ​ Assets and Liabilities Measured at Fair Value on a Non-recurring Basis ​ We review the carrying values of our equity method investments when events and circumstances warrant and consider all available evidence in evaluating when declines in fair value are other-than-temporary. The fair values of our investments are determined based on valuation techniques using the best information available and may include quoted market prices, market comparables and discounted cash flow projections. An impairment charge is recorded when the carrying amount of the investment exceeds its current fair value and is determined to be other-than-temporary. ​ The asset resulting from the indemnification of SSL is for certain pre-closing taxes and reflects the excess of payments since inception over refunds and the estimated liability, which was originally determined using the fair value objective approach. The estimated liability for indemnifications relating to Globalstar do Brasil S.A. (“GdB”), originally determined using expected value analysis, is net of payments since inception.
Contingencies	Contingencies ​ Contingencies by their nature relate to uncertainties that require management to exercise judgment both in assessing the likelihood that a liability has been incurred as well as in estimating the amount of potential loss, if any. We accrue for costs relating to litigation, claims and other contingent matters when such liabilities become probable and reasonably estimable. Such estimates may be based on advice from third parties or on management’s judgment, as appropriate. Actual amounts paid may differ from amounts estimated, and such differences will be charged to operations in the period in which the final determination of the liability is made.
Income Taxes	Income Taxes Loral and its subsidiaries are subject to U.S. federal, state and local income taxation on their worldwide income and foreign taxation on certain income from sources outside the United States. Telesat is subject to tax in Canada and other jurisdictions, and Loral will provide in each period any additional U.S. current and deferred tax required on actual or deemed distributions from Telesat, including Global Intangible Low Taxed Income (“GILTI”). Deferred income taxes reflect the future tax effect of temporary differences between the carrying amount of assets and liabilities for financial and income tax reporting and are measured by applying anticipated statutory tax rates in effect for the year during which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent it is more likely than not that the deferred tax assets will not be realized. ​ The tax benefit of an uncertain tax position (“UTP”) taken or expected to be taken in income tax returns is recognized only if it is “more likely than not” to be sustained on examination by the taxing authorities, based on its technical merits as of the reporting date. The tax benefit recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income taxes in income tax expense on a quarterly basis. ​ The unrecognized tax benefit of a UTP is recognized in the period when the UTP is effectively settled. Previously recognized tax positions are derecognized in the first period in which it is no longer more likely than not that the tax position would be sustained upon examination.
Earnings Per Share	Earnings per Share Basic earnings per share are computed based upon the weighted average number of shares of voting and non-voting common stock outstanding during each period. Shares of non-voting common stock are in all respects identical to and treated equally with shares of voting common stock except for the absence of voting rights (other than as provided in Loral’s Amended and Restated Certificate of Incorporation which was ratified by Loral’s stockholders on May 19, 2009). Diluted earnings per share are based on the weighted average number of shares of voting and non-voting common stock outstanding during each period, adjusted for the effect of unconverted restricted stock units. For diluted earnings per share, earnings are adjusted for the dilutive effect of Telesat stock options and restricted share units.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2020
Basis of Presentation [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet to the condensed consolidated statement of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Cash and cash equivalents $ 81,626 ​ $ 259,067 Restricted cash included in other assets ​ 304 ​ ​ 304 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 81,930 ​ $ 259,371
Assets and Liabilities Measured at Fair Value on Recurring and Non-Recurring basis	The following table presents our assets and liabilities measured at fair value on a recurring and non-recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2020 ​ December 31, 2019 ​ Level 1 ​ Level 2 ​ Level 3 ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds $ 78,639 ​ $ — ​ $ — ​ $ 256,915 ​ $ — ​ $ — Other current assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Sale of SSL ​ — ​ ​ — ​ ​ 598 ​ ​ — ​ ​ — ​ ​ 598 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indemnification - Globalstar do Brasil S.A. $ — ​ $ — ​ $ 145 ​ $ — ​ $ — ​ $ 145
Additional Cash Flow Information	The following represents non-cash activities and supplemental information to the condensed consolidated statements of cash flows (in thousands): ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ June 30, ​ 2020 ​ 2019 Non-cash operating items: ​ ​ ​ ​ ​ Equity in net loss (income) of affiliates $ 40,559 ​ $ (83,282) Deferred taxes ​ (300) ​ ​ 3,308 Depreciation and amortization ​ 2 ​ ​ 8 Right-of-use asset, net of lease liability ​ (3) ​ ​ 16 Amortization of prior service credit and actuarial loss ​ 642 ​ ​ 501 Net non-cash operating items $ 40,900 ​ $ (79,449) Supplemental information: ​ ​ ​ ​ ​ Interest paid $ 11 ​ $ 10 Income tax refunds $ 178 ​ $ 2,980 Income tax payments $ 126 ​ $ 163

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, net of tax, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity in ​ ​ ​ ​ Pension and ​ Telesat-related ​ Accumulated ​ Other ​ Other ​ Other ​ Post-retirement ​ Comprehensive ​ Comprehensive ​ Benefits ​ Loss ​ Loss Balance, January 1, 2019 $ (14,656) ​ $ (2,964) ​ $ (17,620) ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive loss before reclassification ​ (2,307) ​ ​ (35,783) ​ ​ (38,090) Amounts reclassified from accumulated other comprehensive loss ​ 796 ​ ​ — ​ ​ 796 Net current-period other comprehensive loss ​ (1,511) ​ ​ (35,783) ​ ​ (37,294) Balance, December 31, 2019 ​ (16,167) ​ ​ (38,747) ​ ​ (54,914) ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income before reclassification ​ — ​ ​ 13,603 ​ ​ 13,603 Amounts reclassified from accumulated other comprehensive loss ​ 508 ​ ​ — ​ ​ 508 Net current-period other comprehensive income ​ 508 ​ ​ 13,603 ​ ​ 14,111 Balance, June 30, 2020 $ (15,659) ​ $ (25,144) ​ $ (40,803)
Schedule of Other Comprehensive Income (Loss) and Related Income Tax Effects	The components of other comprehensive income (loss) and related tax effects are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ 2020 ​ ​ 2019 ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ Amount ​ Benefit ​ Amount ​ ​ Amount ​ Benefit ​ Amount Amortization of prior service credits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and net actuarial loss $ 340 (a) $ (71) ​ $ 269 ​ ​ $ 271 (a) $ (58) ​ $ 213 Equity in Telesat-related other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ comprehensive loss ​ (17,454) ​ ​ 6 ​ ​ (17,448) ​ ​ ​ (6,861) ​ ​ 2 ​ ​ (6,859) Other comprehensive loss $ (17,114) ​ $ (65) ​ $ (17,179) ​ ​ $ (6,590) ​ $ (56) ​ $ (6,646) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ 2020 ​ ​ 2019 ​ Before-Tax ​ Tax ​ Net-of-Tax ​ ​ Before-Tax ​ Tax (Provision) ​ Net-of-Tax ​ Amount ​ Provision ​ Amount ​ ​ Amount ​ Benefit ​ Amount Amortization of prior service credits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and net actuarial loss $ 642 (a) $ (134) ​ $ 508 ​ ​ $ 501 (a) $ (106) ​ $ 395 Equity in Telesat-related other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ comprehensive income (loss) ​ 13,609 ​ ​ (6) ​ ​ 13,603 ​ ​ ​ (13,450) ​ ​ 3 ​ ​ (13,447) Other comprehensive income (loss) $ 14,251 ​ $ (140) ​ $ 14,111 ​ ​ $ (12,949) ​ $ (103) ​ $ (13,052) ​ (a) Reclassifications are included in other expense.

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Other Current Assets [Abstract]
Schedule of Other Current Assets	Other current assets consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Indemnification receivable from SSL for pre-closing taxes (see Note 13) $ 598 ​ $ 598 Due from affiliates ​ 63 ​ ​ 186 Prepaid expenses ​ 592 ​ ​ 164 Other ​ 12 ​ ​ 374 ​ $ 1,265 ​ $ 1,322

Investments in Affiliates (Tabl

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

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Other Current Liabilities [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Operating lease liability $ 677 ​ $ 652 Due to affiliate ​ — ​ ​ 5 Accrued professional fees ​ 1,595 ​ ​ 1,419 Pension and other post-retirement liabilities ​ 77 ​ ​ 77 Income taxes payable ​ — ​ ​ 673 Accrued liabilities ​ 125 ​ ​ 57 ​ $ 2,474 ​ $ 2,883

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2020
Income Taxes [Abstract]
Summary of Income Tax Benefit (Provision)	The following summarizes our income tax benefit (provision) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Current income tax provision $ (400) ​ $ (316) ​ $ (947) ​ $ (918) Deferred income tax benefit (provision) ​ 1,869 ​ ​ (1,844) ​ ​ 300 ​ ​ (3,308) Income tax benefit (provision) $ 1,469 ​ $ (2,160) ​ $ (647) ​ $ (4,226)
Summary of Uncertain Tax Positions Included in Income Tax Provision	The following summarizes amounts for UTPs included in our income tax benefit (provision) (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Current provision for UTPs $ (332) ​ $ (277) ​ $ (808) ​ $ (737) Deferred benefit for UTPs ​ 72 ​ ​ 60 ​ ​ 172 ​ ​ 153 Tax provision for UTPs $ (260) ​ $ (217) ​ $ (636) ​ $ (584)

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Other Liabilities [Abstract]
Schedule of Long Term Liabilities	Other liabilities consists of (in thousands): ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2020 ​ 2019 Operating lease liability $ — ​ $ 345 Indemnification liabilities - other (see Note 13) ​ 145 ​ ​ 145 Liabilities for uncertain tax positions ​ 19,278 ​ ​ 17,352 ​ $ 19,423 ​ $ 17,842

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Net (loss) income per share:
Schedule of Dilutive Impact of Equity Method Investee Stock Options	​ The following table presents the dilutive impact of Telesat stock options on Loral’s reported net income for the purpose of computing diluted earnings per share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2019 Net income — basic $ 73,566 ​ $ 38,227 ​ $ 76,743 Less: Adjustment for dilutive effect of Telesat stock options ​ (398) ​ ​ (230) ​ ​ (484) Net income — diluted $ 73,168 ​ $ 37,997 ​ $ 76,259
Schedule of Weighted Average Number of Shares for Calculating Diluted Earnings per Share	Basic income per share is computed based upon the weighted average number of share of voting and non-voting common stock outstanding. The following is the computation of common shares outstanding for diluted earnings per share (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2019 Weighted average common shares outstanding ​ 30,933 ​ ​ 30,933 ​ ​ 30,933 Unconverted restricted stock units ​ 84 ​ ​ 75 ​ ​ 75 Common shares outstanding for diluted earnings per share ​ 31,017 ​ ​ 31,008 ​ ​ 31,008
Summary of Unvested Restricted Stock Units Excluded from the Calculation of Diluted Loss Per Share	For the six months ended June 30, 2020, the following unconverted restricted stock units are excluded from the calculation of diluted loss per share as the effect would have been antidilutive (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended ​ ​ June 30, 2020 Unconverted restricted stock units ​ 84

Pensions and Other Employee B_2

Pensions and Other Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Pensions and Other Employee Benefit Plans [Abstract]
Components of Net Periodic Cost	The following tables provide the components of net periodic cost for our qualified retirement plan (the “Pension Benefits”) and health care and life insurance benefits for retired employees and dependents (the “Other Benefits”) for the three and six months ended June 30, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Other Benefits ​ Three Months Ended ​ Three Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost (1) $ 171 ​ $ 183 ​ $ — ​ $ — Interest cost (2) ​ 443 ​ ​ 499 ​ ​ 4 ​ ​ 5 Expected return on plan assets (2) ​ (657) ​ ​ (609) ​ ​ — ​ ​ — Amortization of net actuarial loss (2) ​ 341 ​ ​ 272 ​ ​ (1) ​ ​ (1) Net periodic cost $ 298 ​ $ 345 ​ $ 3 ​ $ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Benefits ​ Other Benefits ​ Six Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost (1) $ 352 ​ $ 361 ​ $ — ​ $ — Interest cost (2) ​ 883 ​ ​ 1,009 ​ ​ 8 ​ ​ 10 Expected return on plan assets (2) ​ (1,326) ​ ​ (1,216) ​ ​ — ​ ​ — Amortization of net actuarial loss (gain) (2) ​ 644 ​ ​ 503 ​ ​ (2) ​ ​ (2) Net periodic cost $ 553 ​ $ 657 ​ $ 6 ​ $ 8 ​ (1) Included in general and administrative expenses. (2) Included in other expense.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies [Abstract]
Operating Leases Expense Net of Sublease Income	Lease costs expensed for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, ​ June 30, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Rent Expense $ 173 ​ $ 171 ​ $ 347 ​ $ 334
Reconciliation of the Lease Liability to Future Lease Payments	The following is a reconciliation of the lease liability to future lease payments as of June 30, 2020 (in thousands): ​ ​ ​ ​ 2020 (July 1, 2020 to December 31, 2020) $ 350 2021 (January 1, 2021 to June 30, 2021) ​ 350 Total operating lease payments ​ 700 Less: Interest ​ (23) Operating lease liability $ 677 ​ ​ ​ Amounts recognized in Balance Sheet ​ ​ Other current liabilities $ 677

Organization and Principal Bu_2

Organization and Principal Business (Narrative) (Details) - segment	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Organization And Principal Business [Line Items]
Number of operating segment	1
Telesat Canada [Member]
Organization And Principal Business [Line Items]
Economic interest in affiliate	62.70%	62.70%
Voting interest in affiliate	32.60%	32.60%

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	May 28, 2020	Apr. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019
Basis of Presentation [Line Items]
Cash and cash equivalents			$ 81,626	$ 259,067
Restricted cash			304	304
Operating lease liability			677
Right-of-use asset			671	988	$ 300
Dividends Payable, Date Declared		Apr. 30, 2020
Common Stock, Dividends, Per Share, Declared		$ 5.50
Dividends, Cash	$ 170,100
Dividends Payable, Date to be Paid		May 28, 2020
Dividends Payable, Date of Record		May 14, 2020
Accounting Standards Update 2016-02 [Member] | Restatement Adjustment [Member]
Basis of Presentation [Line Items]
Operating lease liability					300
Right-of-use asset					$ 300
Telesat Canada [Member]
Basis of Presentation [Line Items]
Investments in affiliates, guarantee or other funding obligations			$ 0	$ 0

Basis of Presentation (Reconcil

Basis of Presentation (Reconciliation of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 81,626	$ 259,067
Restricted cash	304	304
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 81,930	$ 259,371	$ 257,990	$ 257,251

Basis of Presentation (Assets a

Basis of Presentation (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Money Market Funds [Member] | Level 1 [Member]
Assets, Fair Value
Cash and cash equivalents	$ 78,639	$ 256,915
Money Market Funds [Member] | Level 2 [Member]
Assets, Fair Value
Cash and cash equivalents	0	0
Money Market Funds [Member] | Level 3 [Member]
Assets, Fair Value
Cash and cash equivalents	0	0
Sale of SSL, Nov. 02, 2012 [Member] | Level 1 [Member]
Assets, Fair Value
Indemnification - sale of SSL	0	0
Sale of SSL, Nov. 02, 2012 [Member] | Level 2 [Member]
Assets, Fair Value
Indemnification - sale of SSL	0	0
Sale of SSL, Nov. 02, 2012 [Member] | Level 3 [Member]
Assets, Fair Value
Indemnification - sale of SSL	598	598
Globalstar do Brasil S.A. [Member] | Level 1 [Member]
Liabilities, Fair Value
Indemnification - Globalstar do Brasil S.A.	0	0
Globalstar do Brasil S.A. [Member] | Level 2 [Member]
Liabilities, Fair Value
Indemnification - Globalstar do Brasil S.A.	0	0
Globalstar do Brasil S.A. [Member] | Level 3 [Member]
Liabilities, Fair Value
Indemnification - Globalstar do Brasil S.A.	$ 145	$ 145

Basis of Presentation (Addition

Basis of Presentation (Additional Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Non-cash operating items:
Equity in net (income) loss of affiliates	$ (76,515)	$ (41,278)	$ 40,559	$ (83,282)
Deferred taxes			(300)	3,308
Depreciation and amortization			2	8
Right-of-use asset, net of lease liability			(3)	16
Amortization of prior service credit and actuarial (gain) loss			642	501
Net non-cash operating items			40,900	(79,449)
Supplemental information:
Interest paid			11	10
Income tax refunds			178	2,980
Income tax payments			$ 126	$ 163

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended			12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance		$ (54,914)			$ (54,914)
Other comprehensive income (loss), Net-of-tax Amount	$ (17,179)		$ (6,646)		14,111		$ (13,052)
Accumulated other comprehensive income (loss), ending balance	(40,803)				(40,803)	$ (54,914)		$ (54,914)
Pension and Other Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance		(16,167)		$ (14,656)	(16,167)		(14,656)	(14,656)
Other comprehensive income (loss) before reclassification					0			(2,307)
Amounts reclassified from accumulated other comprehensive income (loss)					508			796
Other comprehensive income (loss), Net-of-tax Amount					508			(1,511)
Accumulated other comprehensive income (loss), ending balance	(15,659)				(15,659)	(16,167)		(16,167)
Proportionate Share of Telesat Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance		(38,747)		(2,964)	(38,747)		(2,964)	(2,964)
Other comprehensive income (loss) before reclassification					13,603			(35,783)
Amounts reclassified from accumulated other comprehensive income (loss)					0			0
Other comprehensive income (loss), Net-of-tax Amount					13,603			(35,783)
Accumulated other comprehensive income (loss), ending balance	(25,144)				(25,144)	(38,747)		(38,747)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance		(54,914)		(17,620)	(54,914)		$ (17,620)	(17,620)
Other comprehensive income (loss) before reclassification					13,603			(38,090)
Amounts reclassified from accumulated other comprehensive income (loss)					508			796
Other comprehensive income (loss), Net-of-tax Amount	(17,179)	$ 31,290	$ (6,646)	$ (6,406)	14,111	(24,242)		(37,294)
Accumulated other comprehensive income (loss), ending balance	$ (40,803)				$ (40,803)	$ (54,914)		$ (54,914)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (Components of Other Comprehensive Income and Related Tax Effects) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Amortization of prior service credits and net actuarial loss, Before-Tax Amount	[1]	$ 340	$ 271	$ 642	$ 501
Equity in Telesat-related other comprehensive income (loss), Before-Tax Amount		(17,454)	(6,861)	13,609	(13,450)
Other comprehensive income (loss), Before-Tax Amount		(17,114)	(6,590)	14,251	(12,949)
Amortization of prior service credits and net actuarial loss, Tax (Provision) Benefit		(71)	(58)	(134)	(106)
Equity in Telesat-related other comprehensive income (loss), Tax (Provision) Benefit		6	2	(6)	3
Other comprehensive income, Tax (Provision) Benefit		(65)	(56)	(140)	(103)
Amortization of prior service credits and net actuarial gain (loss), Net-of-Tax Amount		269	213	508	395
Equity in Telesat-related other comprehensive income (loss), Net-of-Tax Amount		(17,448)	(6,859)	13,603	(13,447)
Other comprehensive income (loss), Net-of-tax Amount		$ (17,179)	$ (6,646)	$ 14,111	$ (13,052)
[1]	Reclassifications are included in other expense.

Other Current Assets (Schedule

Other Current Assets (Schedule of Other Current Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Other Current Assets [Abstract]
Indemnification receivable from SSL for pre-closing taxes (see note 13)	$ 598	$ 598
Due from affiliates	63	186
Prepaid expenses	592	164
Other	12	374
Total other current assets	$ 1,265	$ 1,322

Investments in Affiliates (Narr

Investments in Affiliates (Narrative) (Details) - USD ($) $ in Thousands	Jul. 02, 2020	Dec. 06, 2019	Oct. 11, 2019	Jan. 01, 2019	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates					$ 63,234			$ 63,234		$ 90,184
Accumulated other comprehensive loss					(40,803)			(40,803)		$ (54,914)
Equity in Telesat-related other comprehensive income (loss), Before-Tax Amount					$ (17,454)		$ (6,861)	$ 13,609	$ (13,450)
Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Economic interest in affiliate					62.70%			62.70%		62.70%
Voting interest in affiliate					32.60%			32.60%		32.60%
Investments in affiliates					$ 63,234			$ 63,234		$ 90,184
Operating lease right of use asset				$ 19,600
Operating lease liability				$ 20,000
Equity in Telesat-related other comprehensive income (loss), Before-Tax Amount								13,600
Annual Consulting fees payable in cash								5,000
XTAR, LLC [Member]
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates					$ 0			$ 0		0
Percentage of ownership interest					56.00%			56.00%
Globalstar de Mexico [Member]
Investments in and Advances to Affiliates [Line Items]
Investments in affiliates					$ 0			$ 0		0
Senior Notes 8.875% [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Interest on notes			8.875%
Extinguishment of debt, amount			$ 500,000
Debt instrument, repurchase date			Oct. 11, 2019
Indenture maturity date			Nov. 15, 2024
Senior Notes 6.500% [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Interest on notes			6.50%
Debt instrument, issuance date			Oct. 11, 2019
Indenture maturity date			Oct. 1, 2027
Senior notes issued and outstanding			$ 550,000
Senior secured notes 4.875% [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Interest on notes		4.875%
Indenture maturity date		Jun. 1, 2027
Senior notes issued and outstanding		$ 400,000
Equity Method Investment Revolving Credit [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Revolving credit borrowings		$ 200,000
Indenture maturity date		Dec. 1, 2024
Equity Method Investment Senior Secured Credit Facility [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Minimum total leverage ratio					4.50			4.50
Minimum total leverage ratio to incur debt and make payments					4.99			4.99
Term Loan B - U.S. Facility [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Term loan borrowings		$ 1,908,500
Debt instrument, issuance date		Dec. 6, 2019
Indenture maturity date		Dec. 1, 2026
Former Term Loan B - U.S. Facility [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Term loan borrowings		$ 0
Debt instrument, repurchase date		Dec. 6, 2019
Transaction, Management Agreement [Member] | XTAR, LLC [Member]
Investments in and Advances to Affiliates [Line Items]
Amount due to Loral under the Loral Management Agreement					$ 6,600			$ 6,600		6,700
Amount of doubtful accounts receivable					$ 6,600			$ 6,600		$ 6,600
Transaction, Management Agreement [Member] | XTAR, LLC [Member] | Subsequent Event [Member]
Investments in and Advances to Affiliates [Line Items]
Increase (decrease) due from affiliates	$ (5,900)
Restatement Adjustment [Member] | Telesat Canada [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in Telesat-related other comprehensive income (loss), Before-Tax Amount						$ (22,100)

Investments in Affiliates (Inve

Investments in Affiliates (Investments in Affiliates) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investments in affiliates	$ 63,234	$ 90,184
Telesat Canada [Member]
Schedule of Equity Method Investments [Line Items]
Investments in affiliates	$ 63,234	$ 90,184

Investments in Affiliates (Equi

Investments in Affiliates (Equity in Net Income (Losses) of Affiliates) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Equity Method Investments [Line Items]
Equity in net (loss) income of affiliates	$ 76,515	$ 41,278	$ (40,559)	$ 83,282
Telesat Canada [Member]
Schedule of Equity Method Investments [Line Items]
Equity in net (loss) income of affiliates	$ 76,515	$ 41,278	$ (40,559)	$ 83,282

Investments in Affiliates (Eq_2

Investments in Affiliates (Equity Method Investment, Summarized Financial Data) (Details) - Telesat Canada [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Summary Financial 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 (loss) gain	98,313	45,946	(123,330)	98,415
Gain (loss) on financial instruments	(4,884)	(21,263)	(11,889)	(36,375)
Other income (expense)	1,874	4,272	5,952	8,106
Income tax benefit (provision)	(10,138)	(6,481)	(9,456)	(11,036)
Net (loss) income	120,681	$ 64,469	(67,628)	$ 130,074
Current assets	965,015		965,015		$ 877,294
Total assets	4,016,324		4,016,324		4,130,337
Current liabilities	127,735		127,735		124,217
Long-term debt, including current portion	2,829,344		2,829,344		2,836,700
Total liabilities	3,443,905		3,443,905		3,504,594
Shareholders' equity	$ 572,419		$ 572,419		$ 625,743

Other Current Liabilities (Sche

Other Current Liabilities (Schedule of Other Current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Other Current Liabilities [Abstract]
Operating lease liability, current	$ 677	$ 652
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other current liabilities, total
Due to affiliate	$ 0	5
Accrued professional fees	1,595	1,419
Pension and other postretirement liabilities	77	77
Income taxes payable	0	673
Accrued liabilities	125	57
Other current liabilities, total	$ 2,474	$ 2,883

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Thousands	Jun. 30, 2020USD ($)
Income Taxes [Abstract]
Unrecognized tax benefits	$ 43,000
Accrued tax penalties	0
Unrecognized tax benefits, interest on income taxes accrued	2,800
Unrecognized tax benefits that would reduce the income tax provision	$ 7,900

Income Taxes (Summary of Income

Income Taxes (Summary of Income Tax Benefit (Provision)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Abstract]
Current income tax provision	$ (400)	$ (316)	$ (947)	$ (918)
Deferred income tax (provision) benefit	1,869	(1,844)	300	(3,308)
Income tax benefit (provision)	$ 1,469	$ (2,160)	$ (647)	$ (4,226)

Income Taxes (Summary of Uncert

Income Taxes (Summary of Uncertain Tax Positions Included in Income Tax Provision) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Abstract]
Current (provision) benefit for UTPs	$ (332)	$ (277)	$ (808)	$ (737)
Deferred benefit (provision) for UTPs	72	60	172	153
Tax (provision) benefit for UTPs	$ (260)	$ (217)	$ (636)	$ (584)

Other Liabilities (Schedule of

Other Liabilities (Schedule of Long Term Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Other Liabilities [Abstract]
Operating lease liability, noncurrent	$ 0	$ 345
Indemnification liabilities (see Note 13)	145	145
Liabilities for uncertain tax positions	19,278	17,352
Long-term liabilities	$ 19,423	$ 17,842

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	May 28, 2020	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Unconverted restricted stock units			92,857	75,262
Common stock dividends paid	$ 170,100	$ 170,130
Common dividend paid per share	$ 5.50
Restricted Stock Units (RSUs) [Member]
Increase in RSUs outstanding under the Stock Incentive Plan		17,595

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - Telesat Canada [Member]	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Economic interest in affiliate	62.70%	62.70%
Percentage of economic interest as result of dilution upon exercise of stock options	62.30%

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Dilutive Impact of Equity Method Investee Stock Options) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net (loss) income per share:
Net income (loss)	$ 73,566	$ 38,227	$ (47,777)	$ 76,743
Less: Adjustment for dilutive effect of Telesat stock options	(398)	(230)		(484)
Income from continuing operations - diluted	$ 73,168	$ 37,997		$ 76,259

Earnings Per Share (Schedule _2

Earnings Per Share (Schedule of Weighted Average Number of Shares for Calculating Diluted Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net (loss) income per share:
Weighted average common shares outstanding	30,933	30,933	30,933	30,933
Unconverted restricted stock units	84	75		75
Common shares outstanding for diluted earnings per share	31,017	31,008	30,933	31,008

Earnings Per Share (Summary of

Earnings Per Share (Summary of Unvested Restricted Stock Units Excluded from the Calculation of Diluted Loss Per Share) (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2020shares
Net (loss) income per share:
Unconverted restricted stock units	84

Pensions and Other Employee B_3

Pensions and Other Employee Benefits Plans (Components of Net Periodic Cost) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	[1]	$ 171	$ 183	$ 352	$ 361
Interest cost	[2]	443	499	883	1,009
Expected return on plan assets	[2]	(657)	(609)	(1,326)	(1,216)
Amortization of net actuarial loss (gain)	[2]	341	272	644	503
Net periodic cost		298	345	553	657
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	[1]	0	0	0	0
Interest cost	[2]	4	5	8	10
Expected return on plan assets	[2]	0	0	0	0
Amortization of net actuarial loss (gain)	[2]	(1)	(1)	(2)	(2)
Net periodic cost		$ 3	$ 4	$ 6	$ 8
[1]	Included in general and administrative expenses.
[2]	Included in other expense.

Financial Instruments, Deriva_2

Financial Instruments, Derivative Instruments and Hedging (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Financial Instruments, Derivative Instruments and Hedging [Abstract]
Derivative instruments	$ 0	$ 0

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Contingencies And Commitments [Line Items]
Operating lease liability	$ 677
Right-of-use asset	671			$ 988	$ 300
Sublease income	0		$ 0
Operating lease payments	$ 400
Operating Lease, Weighted Average Remaining Lease Term	12 months
Operating lease, discount rate	7.50%
Sale of SSL, Nov. 02, 2012 [Member] | Pre Closing Taxes Indemnification [Member]
Contingencies And Commitments [Line Items]
Indemnification refund receivable	$ 600			600
Indemnification refund received		$ 1,800
Globalstar do Brasil S.A. [Member]
Contingencies And Commitments [Line Items]
Loss contingency accrual	$ 100			$ 100
Restatement Adjustment [Member] | Accounting Standards Update 2016-02 [Member]
Contingencies And Commitments [Line Items]
Operating lease liability					300
Right-of-use asset					$ 300

Commitments and Contingencies_3

Commitments and Contingencies (Operating Leases Expense Net of Sublease Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Commitments and Contingencies [Abstract]
Rent Expense	$ 173	$ 171	$ 347	$ 334

Commitments and Contingencies_4

Commitments and Contingencies (Reconciliation of the Lease Liability to Future Lease Payments) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies [Abstract]
2020 (July 1, 2020 to December 31, 2020)	$ 350
2021 (January 1, 2021 to June 30, 2021)	350
Total operating lease payments	700
Less: interest	(23)
Operating lease liability	677
Operating lease liability, current	$ 677	$ 652
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities Current

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	Jul. 02, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2013	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Transaction, Consulting Agreement [Member] | Director [Member]
Related Party Transaction [Line Items]
Related party transaction, date					Dec. 14, 2012
Transaction fee		$ 360,000	$ 360,000		$ 720,000	$ 720,000
Transaction income during the period		$ 11,250	11,250		22,500	22,500
Monthly Fee [Member] | Transaction, Consulting Agreement [Member] | Director [Member]
Related Party Transaction [Line Items]
Transaction fee					$ 120,000
Telesat Canada [Member]
Related Party Transaction [Line Items]
Economic interest in affiliate		62.70%			62.70%		62.70%
Voting interest in affiliate		32.60%			32.60%		32.60%
Common stock, percentage acquired by an unaffiliated third party					90.00%
Duration for shares to be paid, days					10 days
Telesat Canada [Member] | Transaction, Consulting Agreement [Member]
Related Party Transaction [Line Items]
Related party transaction, date					Oct. 31, 2007
Consulting agreement term					The Consulting Agreement has a term of seven-years with an automatic renewal for an additional seven-year term
Transaction income during the period		$ 1,250,000	1,250,000		$ 2,500,000	2,500,000
Transaction payments received during the period					2,400,000	$ 2,400,000
Telesat Canada [Member] | Annual Fee [Member] | Transaction, Consulting Agreement [Member]
Related Party Transaction [Line Items]
Transaction fee		$ 5,000,000	$ 5,000,000
Telesat Canada [Member] | Annual Fee [Member] | Transaction Participation In Welfare Plans Administrative Fee [Member]
Related Party Transaction [Line Items]
Transaction fee					100,000
Telesat Canada [Member] | Years 2003 to 2006 [Member] | Brazil [Member]
Related Party Transaction [Line Items]
Tax assessment imposed audit					$ 600,000
XTAR, LLC [Member]
Related Party Transaction [Line Items]
Percentage of ownership interest		56.00%			56.00%
XTAR, LLC [Member] | Transaction, Management Agreement [Member]
Related Party Transaction [Line Items]
Due from Affiliate, Noncurrent		$ 6,600,000			$ 6,600,000		$ 6,700,000
Amount of doubtful accounts receivable		$ 6,600,000			$ 6,600,000		$ 6,600,000
Management fee charged as a percentage of revenue				3.70%
MHR Funds [Member]
Related Party Transaction [Line Items]
Percentage of outstanding voting common stock					39.90%		39.90%
Percentage of combined ownership of voting and non-voting common stock		58.40%			58.40%		58.40%
Subsequent Event [Member] | XTAR, LLC [Member] | Transaction, Management Agreement [Member]
Related Party Transaction [Line Items]
Increase (decrease) due from affiliates	$ (5,900,000)