Corporate and other expenses
Corporate and other expenses include items such as corporate office costs, regulatory costs, executive and director compensation, foreign exchange gains and losses, retention costs, and fees for legal and consulting services.
Corporate and other expenses remained relatively unchanged period over period as they decreased to $20 million from $21 million, or by $1 million, for the three months ended September 31, 2021, compared to the same period in 2020.
Intersegment eliminations
Intersegment eliminations are related to projects between our segments, including our WorldView Legion satellite constellation. Intersegment eliminations decreased to $5 million from $7 million, or by $2 million, for the three months ended September 30, 2021, compared to the same period in 2021, primarily related to a decrease in intersegment satellite construction activity.
MAXAR TECHNOLOGIES INC.
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2021 |
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2020 |
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2021 |
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2020 |
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Revenues: |
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Product |
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$ |
166 |
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$ |
161 |
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$ |
498 |
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$ |
425 |
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Service |
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271 |
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275 |
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804 |
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831 |
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Total revenues |
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437 |
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436 |
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1,302 |
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1,256 |
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| Costs and expenses: |
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| Product costs, excluding depreciation and amortization |
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144 |
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145 |
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448 |
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434 |
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| Service costs, excluding depreciation and amortization |
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93 |
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|
95 |
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286 |
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275 |
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| Selling, general and administrative |
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89 |
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90 |
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261 |
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237 |
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| Depreciation and amortization |
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74 |
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|
95 |
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221 |
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|
274 |
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| Impairment loss |
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— |
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— |
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— |
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14 |
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| Reduction of gain on sale leaseback |
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— |
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4 |
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— |
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4 |
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| Operating income |
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37 |
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7 |
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|
86 |
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18 |
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| Interest expense, net |
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25 |
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36 |
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127 |
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133 |
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| Other income, net |
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(2 |
) |
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(91 |
) |
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(6 |
) |
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(98 |
) |
| Income (loss) before taxes |
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14 |
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62 |
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(35 |
) |
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(17 |
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| Income tax benefit |
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— |
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(22 |
) |
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(10 |
) |
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(22 |
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| Equity in income from joint ventures, net of tax |
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— |
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— |
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— |
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(1 |
) |
| Income (loss) from continuing operations |
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14 |
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84 |
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(25 |
) |
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6 |
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| Discontinued operations: |
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| Income from operations of discontinued operations, net of tax |
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— |
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— |
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— |
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32 |
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| Gain on disposal of discontinued operations, net of tax |
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— |
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1 |
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— |
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305 |
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| Income from discontinued operations, net of tax |
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— |
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1 |
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— |
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337 |
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| Net income (loss) |
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$ |
14 |
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$ |
85 |
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$ |
(25 |
) |
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$ |
343 |
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| Basic net income (loss) per common share: |
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| Income (loss) from continuing operations |
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$ |
0.19 |
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$ |
1.38 |
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$ |
(0.36 |
) |
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$ |
0.10 |
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| Income from discontinued operations, net of tax |
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— |
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0.02 |
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— |
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5.56 |
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| Basic net income (loss) per common share |
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$ |
0.19 |
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$ |
1.40 |
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$ |
(0.36 |
) |
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$ |
5.66 |
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| Diluted net income (loss) per common share: |
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| Income (loss) from continuing operations |
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$ |
0.19 |
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$ |
1.32 |
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$ |
(0.36 |
) |
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$ |
0.10 |
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| Income from discontinued operations, net of tax |
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— |
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0.02 |
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— |
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5.39 |
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| Diluted net income (loss) per common share |
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$ |
0.19 |
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$ |
1.34 |
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$ |
(0.36 |
) |
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$ |
5.49 |
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