v3.26.1
Unaudited Interim Condensed Consolidated Statements of Cash Flows - CAD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income (loss) $ (150,949) $ (51,457)
Adjustments to reconcile net income (loss) to cash flows from operating activities:    
Depreciation 22,130 25,909
Amortization 8,611 10,899
Tax expense (recovery) (9,351) 918
Interest expense 49,958 56,664
Interest income (4,400) (6,342)
(Gain) loss on foreign exchange 17,306 (2,480)
(Gain) loss on changes in fair value of financial instruments 15,821 33,412
Share-based compensation 3,129 3,241
(Gain) loss on disposal of assets (20) (3,950)
Impairment 84,469
Deferred revenue amortization (11,304) (14,407)
Pension expense 1,125 1,366
Other 749 (691)
Income taxes paid, net of income tax received (9,328) (1,580)
Interest paid, net of interest received (27,078) (31,350)
Operating assets and liabilities 12,752 118,772
Net cash from operating activities 3,620 138,924
Cash flows (used in) generated from investing activities    
Cash payments related to satellite programs (74,540) (200,313)
Cash payments related to property and other equipment (43,145) (34,744)
Net proceeds from disposal of assets 4,500
Investments and other (870)
Net cash (used in) generated from investing activities (118,555) (230,557)
Cash flows (used in) generated from financing activities    
Proceeds from indebtedness 130,218 340,000
Payments of principal on lease liabilities (674) (515)
Satellite performance incentive payments (212) (190)
Proceeds from exercise of stock options 599
Tax withholdings on settlement of restricted and performance share units (9,551) (6,788)
Net cash (used in) generated from financing activities 120,380 332,507
Effect of changes in exchange rates on cash and cash equivalents 7,482 4,433
Changes in cash and cash equivalents 12,927 245,307
Cash and cash equivalents, beginning of period 509,798 552,064
Cash and cash equivalents, end of period $ 522,725 $ 797,371