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Consolidated Statements of Income - CAD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019
Profit or loss [abstract] |  |  |
Revenue | $ 758,212 | $ 820,468 | $ 910,893
Operating expenses | (234,054) | (180,874) | (165,499)
Depreciation | (203,772) | (216,885) | (242,966)
Amortization | (16,141) | (17,195) | (23,277)
Other operating gains (losses), net | 107,615 | (215) | (862)
Operating income | 411,860 | 405,299 | 478,289
Interest expense | (187,994) | (203,760) | (258,261)
Loss on refinancing |  |  | (151,919)
Interest and other income | 3,418 | 5,196 | 20,043
Loss on changes in fair value of financial instruments | (18,684) | (13,115) | (49,672)
Gain on foreign exchange | 27,539 | 47,605 | 163,840
Income before tax | 236,139 | 241,225 | 202,320
Tax (expense) recovery | (78,377) | 4,353 | (15,122)
Net income | 157,762 | 245,578 | 187,198
Net income attributable to: |  |  |
Telesat Corporation/Telesat Canada shareholders | 103,542 | 245,578 | 187,198
Non-controlling interest | 54,220 |  |
Net income | $ 157,762 | $ 245,578 | $ 187,198
Net income per share attributable to Telesat Corporation shareholders (Net income per common shares attributable to Telesat Canada common shareholders) |  |  |
Basic (in Dollars per share) | $ 2.29 | $ 4.96 | $ 3.78
Diluted (in Dollars per share) | $ 2.22 | $ 4.93 | $ 3.76
Total Weighted Average Telesat Corporation Shares (Total Weighted Average Telesat Canada Common shares) Outstanding |  |  |
Basic (in Shares) | 45,168,650 | 49,537,082 | 49,519,663
Diluted (in Shares) | 46,620,495 | 49,804,886 | 49,806,301

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- References No definition available. + Details
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