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Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Company's Revenue and Income From Operations by Segment
The following table includes results for the Company’s revenues and income from vessel operations by segment for the period ended June 30, 2016.
Three Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional
 
Ship-to-Ship
 
 
 
 
 
 
 
Tanker
 
Transfer
 
Inter-segment
 
 
 
 
 
Segment
 
Segment
 
Revenue (1)
 
Total
Revenues
 
129,092

 
 
10,999

 
 
(470
)
 
 
139,621

 
Voyage expenses
 
(10,494
)
 
 
266

 
 
470

 
 
(9,758
)
 
Vessel operating expenses
 
(37,278
)
 
 
(9,111
)
 
 
—

 
 
(46,389
)
 
Time-charter hire expense
 
(15,456
)
 
 
(457
)
 
 
—

 
 
(15,913
)
 
Depreciation and amortization
 
(24,320
)
 
 
(1,301
)
 
 
—

 
 
(25,621
)
 
General and administrative expenses
 
(3,633
)
 
 
(1,136
)
 
 
—

 
 
(4,769
)
 
Asset impairment
 
(6,420
)
 
 
—

 
 
—

 
 
(6,420
)
 
Income from operations (2)
 
31,491

 
 
(740
)
 
 
—

 
 
30,751

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Income
 
4,740

 
 
—

 
 
—

 
 
4,740

 

(1)
The ship-to-ship transfer segment provides lightering support services to the conventional tanker segment for full service lightering operations at a cost of $24,750 per voyage.
(2)
Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
Six Months Ended June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Conventional
 
Ship-to-Ship
 
 
 
 
 
 
 
 
Tanker
 
Transfer
 
Inter-segment
 
 
 
 
 
Segment
 
Segment
 
Revenue (1)
 
Total
Revenues
 
284,657

 
 
21,085

 
 
(1,171
)
 
 
304,571

 
Voyage expenses
 
(23,752
)
 
 
—

 
 
1,171

 
 
(22,581
)
 
Vessel operating expenses
 
(74,786
)
 
 
(16,676
)
 
 
—

 
 
(91,462
)
 
Time-charter hire expense
 
(35,886
)
 
 
(743
)
 
 
—

 
 
(36,629
)
 
Depreciation and amortization
 
(50,274
)
 
 
(2,414
)
 
 
—

 
 
(52,688
)
 
General and administrative expenses
 
(8,404
)
 
 
(1,798
)
 
 
—

 
 
(10,202
)
 
Asset impairment
 
(6,420
)
 
 
—

 
 
—

 
 
(6,420
)
 
Income from operations (2)
 
85,135

 
 
(546
)
 
 
—

 
 
84,589

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Income
 
8,554

 
 
—

 
 
—

 
 
8,554

 

(1)
The ship-to-ship transfer segment provides lightering support services to the conventional tanker segment for full service lightering operations at a cost of $24,750 per voyage.
(2)
Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
Reconciliation of Total Segment Assets to Total Assets Presented in Consolidated Balance Sheets
A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:

 
As at
 
As at
 
June 30, 2016
 
December 31, 2015
 
$
 
$
Conventional Tanker
1,932,151

 
2,020,317

Ship-to-Ship Transfer
29,950

 
24,429

Cash and cash equivalents
58,018

 
96,417

Accounts receivable
43,611

 
28,313

Consolidated total assets
2,063,730

 
2,169,476