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Segment Reporting
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
On July 31, 2015, the Company acquired a ship-to-ship transfer business (or SPT) from a company jointly-owned by Teekay and a Norway-based marine transportation company, I.M. Skaugen SE (see note 24). Following the acquisition, the Company has two reportable segments, its conventional tanker segment and its ship-to-ship transfer segment. The Company’s conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts. The Company’s ship-to-ship transfer segment consists of the Company’s lightering support services, including those provided to the Company’s conventional tanker segment as part of full service lightering operations and other related services. Segment results are evaluated based on income from operations. The accounting policies applied to the reportable segments are the same as those used in the preparation of the Company’s consolidated financial statements.

The following table includes results for the Company’s revenue and income from operations by segment for the years ended December 31, 2016 and 2015. Prior to 2015, the Company had one operating segment.
 
Year Ended December 31, 2016
Conventional
Tanker
Segment
$
 
Ship-to-Ship
Transfer
Segment
$
 
Inter-segment
Adjustment (1)
$
 
Total
$
Revenues
512,608

 
41,136

 
(3,201
)
 
550,543

Voyage expenses
(56,805
)
 
—

 
3,201

 
(53,604
)
Vessel operating expenses
(150,100
)
 
(32,498
)
 
—

 
(182,598
)
Time-charter hire expense
(57,368
)
 
(2,279
)
 
—

 
(59,647
)
Depreciation and amortization
(99,024
)
 
(5,125
)
 
—

 
(104,149
)
General and administrative expenses
(29,432
)
 
(3,767
)
 
—

 
(33,199
)
(Loss) gain on sale of vessels
(20,926
)
 
332

 
—

 
(20,594
)
Income (loss) from operations (2)
98,953


(2,201
)
 
—

 
96,752

Equity income
7,680

 
—

 
—

 
7,680


Year Ended December 31, 2015
Conventional
Tanker
Segment
$
 
Ship-to-Ship
Transfer
Segment
$
 
Inter-segment
Adjustment (1)
$
 
Total
$
Revenues
516,943

 
18,587

 
(849
)
 
534,681

Voyage expenses
(18,379
)
 
(348
)
 
—

 
(18,727
)
Vessel operating expenses
(123,572
)
 
(14,441
)
 
849

 
(137,164
)
Time-charter hire expense
(74,860
)
 
(38
)
 
—

 
(74,898
)
Depreciation and amortization
(72,118
)
 
(1,642
)
 
—

 
(73,760
)
General and administrative expenses
(28,418
)
 
(1,985
)
 
—

 
(30,403
)
Gain on sale of vessel
771

 
—

 
—

 
771

Restructuring charge
(6,468
)
 
(327
)
 
—

 
(6,795
)
Income (loss) from operations (2)
193,899

 
(194
)
 
—

 
193,705

Equity income
11,528

 
—

 
—

 
11,528

(1)
The ship-to-ship transfer segment provides lightering support services to the conventional tanker segment for full service lightering operations and the pricing for such services is based on estimated costs incurred of approximately $25,000 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). 

A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:
 
As at
December 31, 2016
$
 
As at
December 31, 2015
$
Conventional Tanker
1,809,956

 
1,999,979

Ship-to-Ship Transfer
26,468

 
24,429

Cash and cash equivalents
94,157

 
156,520

Accounts receivable
33,789

 
33,875

Total assets
1,964,370

 
2,214,803