Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders’ Equity - CAD ($) $ in Thousands |
Telesat Corporation Shares |
Accumulated earnings |
Equity- settled employee benefits reserve |
Foreign currency translation reserve |
Total reserves |
Total Telesat Corporation shareholders’ equity |
Non- controlling Interest |
Total |
|---|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2024 | $ 59,082 | $ 467,333 | $ 70,955 | $ 112,910 | $ 183,865 | $ 710,280 | $ 1,786,425 | $ 2,496,705 |
| Net income (loss) | 5,458 | 5,458 | 18,614 | 24,072 | ||||
| Issuance of share capital on settlement of restricted share units, performance share units, and the exercise of stock options | 1,548 | 863 | 33 | 129 | 162 | 2,573 | (2,209) | 364 |
| Exchange of Limited Partnership units for Telesat Public Shares | 690 | 8,755 | 1,130 | 1,073 | 2,203 | 11,648 | (11,648) | |
| Other comprehensive income (loss), net of tax (expense) recovery | (68,163) | (68,163) | (68,163) | (171,129) | (239,292) | |||
| Share-based compensation | 1,596 | 1,596 | 1,596 | 3,996 | 5,592 | |||
| Balance at Jun. 30, 2025 | 68,426 | 487,342 | 72,583 | 47,914 | 120,497 | 676,265 | 1,602,932 | 2,279,197 |
| Net income (loss) | (160,812) | (160,812) | (393,477) | (554,289) | ||||
| Issuance of share capital on settlement of restricted share units, performance share units, and the exercise of stock options | 8,654 | 5,796 | (1,098) | 2,094 | 996 | 15,446 | (23,326) | (7,880) |
| Exchange of Limited Partnership units for Telesat Public Shares | 23 | 1 | 1 | 24 | (24) | |||
| Other comprehensive income (loss), net of tax (expense) recovery | 3,421 | 8,020 | 8,020 | 11,441 | 28,285 | 39,726 | ||
| Share-based compensation | 2,216 | 2,216 | 2,216 | 5,271 | 7,487 | |||
| Balance at Dec. 31, 2025 | 69,997 | 330,814 | 73,946 | 56,063 | 130,009 | 530,820 | 1,238,776 | 1,769,596 |
| Net income (loss) | (211,277) | (211,277) | (498,222) | (709,499) | ||||
| Issuance of share capital on settlement of restricted share units, performance share units, and the exercise of stock options | 17,185 | (710) | (1,285) | 961 | (324) | 16,151 | (30,285) | (14,134) |
| Exchange of Limited Partnership units for Telesat Public Shares | 4 | 108 | 6 | 4 | 10 | 122 | (122) | |
| Other comprehensive income (loss), net of tax (expense) recovery | 38,572 | 38,572 | 38,572 | 92,801 | 131,373 | |||
| Share-based compensation | 1,329 | 1,329 | 1,329 | 3,269 | 4,598 | |||
| Balance at Jun. 30, 2026 | $ 87,186 | $ 118,935 | $ 74,883 | $ 95,600 | $ 170,483 | $ 376,604 | $ 808,219 | $ 1,184,823 |