One satellite would be used to provide innovative new capacity for broadcasting and telecommunications services, while the other would carry advanced multimedia services to individual Canadians and public institutions-including those in remote and underserved areas. The company made history in 1972 with the launch of the first domestic commercial communications satellite in geostationary orbit. Today, Telesat provides telecommunications and broadcast distribution services in the Americas and is a leading consultant, operator and partner in satellite ventures around the globe. Telesat is a wholly owned subsidiary of BCE Inc., one of the world's leading telecommunications companies. Summary of Significant Accounting Policies For a full description of the accounting policies, please refer to the 2000 Telesat Annual Report.
All amounts are in Canadian dollars unless otherwise indicated.
The Company's business segments have been segregated based on the way that management organizes the business for making operating decisions and assessing performance. Other - includes Telesat's investment in the Teleport de Montreal Immeuble, a real estate building in Montreal. Telesat then offset the receivable from BCE against the BCE Demand Loan. As the legal right of offset existed and it was the intention of the financing arrangement to do so, the BCE Demand Loan and the investment in the 1431137 Ontario Preferred Shares were offset on the Balance Sheet. The use of cash for the BCE Demand Loan repayment and the source of cash from the redemption of the preferred shares are presented on a net basis on the Company's Cash Flow Statement.