Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Supplemental Guarantor Financial Information [Abstract]

Consolidated Balance Sheets

	December 31, 2018
	Parent Issuer			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	218,903		$	32,017	$	106,407	$	—		$	357,327
Short-term investments		—			105		2,427		—			2,532
Accounts receivable		1,926			7,707		3,368		—			13,001
Intercompany accounts receivable		169,170			65,173		2,176		(236,519	)		—
Loans to affiliate		36,527			—		—		(36,527	)		—
Prepaid expenses and other		24,045			33,388		1,174		(22,088	)		36,519
Gross investment in lease		44,348			—		—		—			44,348
Fair value of financial instruments		—			—		113		—			113
		494,919			138,390		115,665		(295,134	)		453,840
Vessels		3,813,906			294,305		1,818,786		(723	)		5,926,274
Gross investment in lease		817,631			—		—		—			817,631
Goodwill		—			75,321		—		—			75,321
Investment in subsidiaries		951,062			577,305		—		(1,528,367	)		—
Other assets		100,264			18,978		96,168		(10,479	)		204,931
	$	6,177,782		$	1,104,299	$	2,030,619	$	(1,834,703	)	$	7,477,997
Liabilities, puttable preferred shares and shareholders' equity
Current liabilities:
Accounts payable and accrued liabilities	$	29,443		$	38,620	$	2,148	$	—		$	70,211
Intercompany accounts payable		48,942			38,499		149,078		(236,519	)		—
Loans from affiliate		—			—		36,527		(36,527	)		—
Current portion of deferred revenue		51,191			20,985		4,724		(20,985	)		55,915
Current portion of long-term debt		619,839			—		102,802		—			722,641
Current portion of long-term obligations under capital lease		32,050			16,334		—		—			48,384
Current portion of other long-term liabilities		23,594			—		8,649		—			32,243
		805,059			114,438		303,928		(294,031	)		929,394
Deferred revenue		376,884			—		—		—			376,884
Long-term debt		1,732,110			—		1,032,790		—			2,764,900
Long-term obligations under capital lease		459,520			131,852		—		—			591,372
Other long-term liabilities		169,934			15,530		6,433		(11,740	)		180,157
Fair value of financial instruments		126,157			—		1,015		—			127,172
		3,669,664			261,820		1,344,166		(305,771	)		4,969,879
Puttable preferred shares		48,139			—		—		—			48,139
Shareholders’ equity:
Share capital		2,102			436,669		526,532		(963,201	)		2,102
Treasury shares		(371	)		—		—		—			(371	)
Additional paid in capital		3,126,457			233,739		116,127		(349,866	)		3,126,457
Retained earnings (deficit)		(645,638	)		172,071		43,794		(215,865	)		(645,638	)
Accumulated other comprehensive loss		(22,571	)		—		—		—			(22,571	)
		2,459,979			842,479		686,453		(1,528,932	)		2,459,979
	$	6,177,782		$	1,104,299	$	2,030,619	$	(1,834,703	)	$	7,477,997

	December 31, 2017
	Parent Issuer			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	146,328		$	77,712	$	29,136	$	—		$	253,176
Short-term investments		—			104		—		—			104
Accounts receivable		37,303			25,347		—		(50,972	)		11,678
Loans to affiliate		36,100			—		—		—			36,100
Prepaid expenses and other		29,037			30,348		938		(15,454	)		44,869
Gross investment in lease		35,478			—		—		—			35,478
		284,246			133,511		30,074		(66,426	)		381,405
Vessels		3,918,672			286,342		332,202		—			4,537,216
Gross investment in lease		687,896			—		—		—			687,896
Goodwill		—			75,321		—		—			75,321
Intercompany accounts receivable (payable)		(11,594	)		11,189		405		—			—
Investment in subsidiaries		474,713			59,902		—		(534,615	)		—
Other assets		116,154			81,463		9,104		(10,417	)		196,304
	$	5,470,087		$	647,728	$	371,785	$	(611,458	)	$	5,878,142
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and accrued liabilities	$	35,307		$	75,125	$	2,789	$	(50,001	)	$	63,220
Current portion of deferred revenue		54,578			16,104		140		(15,455	)		55,367
Current portion of long-term debt		239,858			—		17,942		—			257,800
Current portion of long-term obligations under capital lease		28,534			15,378		—		—			43,912
Current portion of other long-term liabilities		23,635			—		—		—			23,635
		381,912			106,607		20,871		(65,456	)		443,934
Deferred revenue		327,641			1,040		—		—			328,681
Long-term debt		2,001,504			—		191,329		—			2,192,833
Long-term obligations under capital lease		445,279			149,737		—		—			595,016
Other long-term liabilities		195,459			15,273		—		(11,346	)		199,386
Fair value of financial instruments		168,860			—		—		—			168,860
		3,520,655			272,657		212,200		(76,802	)		3,928,710
Shareholders’ equity:
Share capital		1,646			41,789		33,299		(75,088	)		1,646
Treasury shares		(377	)		—		—		—			(377	)
Additional paid in capital		2,752,988			233,739		109,488		(343,227	)		2,752,988
Retained earnings (deficit)		(781,137	)		99,543		16,798		(116,341	)		(781,137	)
Accumulated other comprehensive loss		(23,688	)		—		—		—			(23,688	)
		1,949,432			375,071		159,585		(534,656	)		1,949,432
	$	5,470,087		$	647,728	$	371,785	$	(611,458	)	$	5,878,142

Consolidated Statements of Operations

	Year ended December 31, 2018
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	876,894		$	266,906		$	234,660		$	(282,129	)	$	1,096,331
Operating expenses:
Ship operating		243,311			191,151			42,627			(257,819	)		219,270
Depreciation and amortization		181,397			13,846			50,558			—			245,801
General and administrative		33,327			21,586			962			(24,310	)		31,565
Operating leases		111,008			5,501			13,238			—			129,747
		569,043			232,084			107,385			(282,129	)		626,383
Operating earnings		307,851			34,822			127,275			—			469,948
Other expenses (income):
Interest expense and amortization of deferred    financing fees		149,696			8,514			54,200			(345	)		212,065
Interest income		(3,812	)		(429	)		(301	)		345			(4,197	)
Acquisition related gain on contract settlement		—			(2,430	)		—			—			(2,430	)
Change in fair value of financial instruments		(15,720	)		91			139			—			(15,490	)
Equity income on consolidated subsidiaries		(102,650	)		(68,582	)		—			171,232			—
Equity income on investment		—			(1,216	)		—			—			(1,216	)
Other expense (income)		1,539			797			82			—			2,418
		29,053			(63,255	)		54,120			171,232			191,150
Net earnings (loss)	$	278,798		$	98,077		$	73,155		$	(171,232	)	$	278,798

	Year ended December 31, 2017
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	797,317		$	237,056		$	45,086		$	(248,135	)	$	831,324
Operating expenses:
Ship operating		211,966			180,349			10,864			(219,263	)		183,916
Cost of services, supervision fees		—			1,300			—			—			1,300
Depreciation and amortization		173,464			13,317			13,157			—			199,938
General and administrative		52,742			16,115			106			(28,872	)		40,091
Operating leases		98,175			5,046			12,323			—			115,544
Gain on disposals		(1	)		(13,603	)		—			—			(13,604	)
Expenses related to customer    bankruptcy		472			—			541			—			1,013
Vessel impairments		—			—			—			—			—
		536,818			202,524			36,991			(248,135	)		528,198
Operating earnings		260,499			34,532			8,095			—			303,126
Other expenses (income):
Interest expense and amortization of    deferred financing fees		97,762			7,795			10,832			—			116,389
Interest income		(4,146	)		(412	)		—			—			(4,558	)
Change in fair value of financial    instruments		11,894			737			—			—			12,631
Equity income on investment		(29,013	)		(12,761	)		—			35,939			(5,835	)
Other expense		8,765			497			—			—			9,262
		85,262			(4,144	)		10,832			35,939			127,889
Net earnings (loss)	$	175,237		$	38,676		$	(2,737	)	$	(35,939	)	$	175,237

	Year ended December 31, 2016
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenue	$	835,851		$	250,606		$	50,969		$	(259,521	)	$	877,905
Operating expenses:
Ship operating		229,439			185,750			9,967			(232,829	)		192,327
Cost of services, supervision fees		—			7,390			—			—			7,390
Depreciation and amortization		188,816			14,172			13,110			—			216,098
General and administrative		42,507			16,189			114			(26,692	)		32,118
Operating leases		74,175			4,780			6,955			—			85,910
Loss on disposals		31,876			—			—			—			31,876
Expenses related to customer bankruptcy		7,342			—			12,390			—			19,732
Vessel impairments		285,195			—			—			—			285,195
		859,350			228,281			42,536			(259,521	)		870,646
Operating earnings (loss)		(23,499	)		22,325			8,433			—			7,259
Other expenses (income):
Interest expense and amortization of deferred    financing fees		101,009			7,583			11,290			—			119,882
Interest income		(8,273	)		(179	)		(3	)		—			(8,455	)
Refinancing expenses		1,962			—			—			—			1,962
Change in fair value of financial instruments		28,616			502			—			—			29,118
Equity income on investment		(11,176	)		(5,500	)		—			16,488			(188	)
Other expense (income)		3,402			578			—			(1	)		3,979
		115,540			2,984			11,287			16,487			146,298
Net earnings (loss)	$	(139,039	)	$	19,341		$	(2,854	)	$	(16,487	)	$	(139,039	)

Consolidated Statements of Comprehensive Income

	Year ended December 31, 2018
	Parent Issuer		Guarantors		Non-Guarantors		Eliminations			Consolidated
Net earnings (loss)	$	278,798	$	98,077	$	73,155	$	(171,232	)	$	278,798
Amounts reclassified to net earnings during the        year relating to cash flow hedging        instruments		1,117		—		—		—			1,117
Comprehensive income (loss)	$	279,915	$	98,077	$	73,155	$	(171,232	)	$	279,915

	Year ended December 31, 2017
	Parent Issuer		Guarantors		Non-Guarantors			Eliminations			Consolidated
Net earnings (loss)	$	175,237	$	38,676	$	(2,737	)	$	(35,939	)	$	175,237
Other comprehensive income:
Amounts reclassified to net earnings        during the year relating to cash        low hedging instruments		2,859		—		—			—			2,859
Comprehensive income (loss)	$	178,096	$	38,676	$	(2,737	)	$	(35,939	)	$	178,096

	Year ended December 31, 2016
	Parent Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated
Net earnings (loss)	$	(139,039	)	$	19,341	$	(2,854	)	$	(16,487	)	$	(139,039	)
Amounts reclassified to net earnings     during the year relating to cash     flow hedging instruments		4,373			—		—			—			4,373
Comprehensive income (loss)	$	(134,666	)	$	19,341	$	(2,854	)	$	(16,487	)	$	(134,666	)

Consolidated Statements of Cash Flows

	Year ended December 31, 2018
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Cash from (used in) operating activities	$	223,936		$	19,832		$	275,083		$	(35,000	)	$	483,851
Financing activities:
Common shares issued, net of issuance costs		—			—			—			—			—
Preferred shares issued, net of issuance costs		144,375			—			—			—			144,375
Draws on credit facilities		205,600			—			120,000			—			325,600
Repayment of credit facilities		(242,220	)		—			(227,442	)		—			(469,662	)
2025 Notes and 2018 Warrants issued		250,000			—			—			—			250,000
Senior unsecured notes repurchased, including    Related expenses		(17,529	)		—			—			—			(17,529	)
Draws on long-term obligations under capital lease		46,964			—			—			—			46,964
Repayment on long-term obligations under    capital lease		(30,504	)		(17,636	)		—			—			(48,140	)
Preferred shares redeemed, including related expenses		(143,430	)		—			—			—			(143,430	)
Proceeds from exercise of 2018 Warrants		250,000			—			—			—			250,000
Financing fees		(10,057	)		—			(6,065	)		—			(16,122	)
Intercompany dividends paid		—			(23,800	)		(12,300	)		36,100			—
Dividends on common shares		(49,937	)		—			—			—			(49,937	)
Dividends on preferred shares		(65,765	)		—			—			—			(65,765	)
Cash from (used in) financing activities		337,497			(41,436	)		(125,807	)		36,100			206,354
Investing activities:
Expenditures for vessels		(157,268	)		(20,003	)		(141,469	)		—			(318,740	)
Short-term investments		—			(1	)		(2,427	)		—			(2,428	)
Other assets		891			(4,078	)		1,770			—			(1,417	)
Intercompany dividends received		1,100			—			—			(1,100	)		—
Acquisition of GCI		(333,581	)		—			—			—			(333,581	)
Cash acquired from GCI		—			—			70,121			—			70,121
Cash used in investing activities		(488,858	)		(24,082	)		(72,005	)		(1,100	)		(586,045	)
Increase (decrease) in cash and cash equivalents		72,575			(45,686	)		77,271			—			104,160
Cash, cash equivalents and restricted cash,    beginning of period		146,328			85,600			35,308			—			267,236
Cash, cash equivalents and restricted cash, end of    period	$	218,903		$	39,914		$	112,579		$	—		$	371,396

	Year ended December 31, 2017
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Cash from (used in) operating activities	$	315,803		$	10,891		$	(8,257	)	$	4,782		$	323,219
Financing activities:
Common shares issued, net of issuance costs		118,966			—			—			—			118,966
Preferred shares issued, net of issuance costs		2,690			—			—			—			2,690
Repayment of credit facilities		(430,271	)		—			(24,734	)		—			(455,005	)
Draws on long-term obligations under capital lease		176,254			—			—			—			176,254
Repayment on long-term obligations under capital lease		(9,649	)		(16,549	)		—			—			(26,198	)
Senior unsecured notes issued		80,000			—			—			—			80,000
Senior unsecured notes repurchased, including related    expenses		(7,075	)		—			—			—			(7,075	)
Proceeds from sale-leaseback of vessels		90,753			—			—			—			90,753
Financing fees		(9,840	)		832			784			(2	)		(8,226	)
Dividends on common shares		(61,830	)		(4,950	)		—			4,950			(61,830	)
Dividends on preferred shares		(64,416	)		—			—			—			(64,416	)
Advances from related parties		—			6,667			41,510			(48,177	)		—
Cash from (used in) financing activities		(114,418	)		(14,000	)		17,560			(43,229	)		(154,087	)
Investing activities:
Expenditures for vessels		(329,328	)		(7,076	)		(2,114	)		—			(338,518	)
Short-term investments		—			307			—			—			307
Net proceeds from vessel disposals		—			37,091			—			—			37,091
Other assets		2,782			(5,365	)		(7	)		206			(2,384	)
Loans to affiliate		27,376			(2,778	)		—			(4,950	)		19,648
Capital contribution in subsidiary		(43,188	)		(3	)		—			43,191			—
Cash used in investing activities		(342,358	)		22,176			(2,121	)		38,447			(283,856	)
Increase (decrease) in cash and cash equivalents		(140,973	)		19,067			7,182			—			(114,724	)
Cash, cash equivalents and restricted cash, beginning of    period		287,301			66,533			28,126			—			381,960
Cash, cash equivalents and restricted cash, end of    period	$	146,328		$	85,600		$	35,308		$	—		$	267,236
	Year ended December 31, 2016
	Parent Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Cash from (used in) operating activities	$	268,780		$	45,017		$	33,711		$	(36,421	)	$	311,087
Financing activities:
Common shares issued, net of issuance costs		95,978			—			—			—			95,978
Preferred shares issued, net of issuance costs		541,694			—			—			—			541,694
Draws on credit facilities		220,485			—			—			—			220,485
Repayment of credit facilities		(673,128	)		—			(31,162	)		(1	)		(704,291	)
Draws on long-term obligations under capital lease		180,750			—			—			—			180,750
Repayment on long-term obligations under capital lease		(9,182	)		(15,550	)		—			(1	)		(24,733	)
Proceeds from sale-leaseback of vessels		354,000			—			—			—			354,000
Common shares repurchased, including related    expenses		(8,269	)		—			—			—			(8,269	)
Preferred shares repurchased, including related    expenses		(333,074	)		—			—			—			(333,074	)
Financing fees		(14,912	)		975			945			—			(12,992	)
Dividends on common shares		(148,555	)		(23,100	)		(19,366	)		42,465			(148,556	)
Dividends on preferred shares		(54,085	)		—			—			—			(54,085	)
Cash from (used in) financing activities		151,702			(37,675	)		(49,583	)		42,463			106,907
Investing activities:
Expenditures for vessels		(324,962	)		(17,891	)		(699	)		—			(343,552	)
Short-term investments		7			2,997			—			—			3,004
Net proceeds from vessel disposals		12,078			—			—			—			12,078
Proceeds from sale of leased vessels		20,000			—			—			—			20,000
Other assets		3,678			(4,896	)		583			(6,042	)		(6,677	)
Loans to affiliate		49,735			—			—			—			49,735
Advances to related parties		(30,466	)		(12,000	)		—			42,466			—
Dividend recevied from subsidary		30,466			12,000			—			(42,466	)		—
Cash used in investing activities		(239,464	)		(19,790	)		(116	)		(6,042	)		(265,412	)
Increase (decrease) in cash and cash equivalents		181,018			(12,448	)		(15,988	)		—			152,582
Cash, cash equivalents and restricted cash, beginning of    period		106,283			78,981			44,114			—			229,378
Cash, cash equivalents and restricted cash, end of    period	$	287,301		$	66,533		$	28,126		$	—		$	381,960