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Segment Reporting
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
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 and commercial management of all of its tankers and those tankers employed on full service lightering contracts. The Company’s ship-to-ship transfer segment consists of the Company’s ship-to-ship support services, including those provided to the Company’s conventional tanker segment as part of full service lightering operations and LNG terminal management, consultancy, procurement and other related services. Segment results are evaluated based on (loss) 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 tables include results for the Company’s revenues and (loss) income from operations by segment for the three and nine months ended September 30, 2019 and September 30, 2018.

Three Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship
Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
176,836

 
 
8,685

 
 
(3,217
)
 
 
182,304

 
Voyage expenses
(90,943
)
 
 
—

 
 
3,217

 
 
(87,726
)
 
Vessel operating expenses
(41,833
)
 
 
(6,706
)
 
 
—

 
 
(48,539
)
 
Time-charter hire expenses
(9,331
)
 
 
(1,306
)
 
 
—

 
 
(10,637
)
 
Depreciation and amortization
(30,634
)
 
 
(902
)
 
 
—

 
 
(31,536
)
 
General and administrative expenses (3)
(7,955
)
 
 
(784
)
 
 
—

 
 
(8,739
)
 
Loss from operations
(3,860
)
 
 
(1,013
)
 
 
—

 
 
(4,873
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
68

 
 
—

 
 
—

 
 
68

 

Three Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment Adjustment (1)
 
Total
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
166,423

 
 
12,019

 
 
(2,527
)
 
 
175,915

 
Voyage expenses
(85,575
)
 
 
—

 
 
2,527

 
 
(83,048
)
 
Vessel operating expenses
(43,432
)
 
 
(8,729
)
 
 
—

 
 
(52,161
)
 
Time-charter hire expenses
(2,935
)
 
 
(1,382
)
 
 
—

 
 
(4,317
)
 
Depreciation and amortization
(28,532
)
 
 
(1,063
)
 
 
—

 
 
(29,595
)
 
General and administrative expenses (3)
(7,985
)
 
 
(762
)
 
 
—

 
 
(8,747
)
 
Restructuring charges
—

 
 
(213
)
 
 
—

 
 
(213
)
 
Loss from operations
(2,036
)
 
 
(130
)
 
 
—

 
 
(2,166
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity loss
(359
)
 
 
—

 
 
—

 
 
(359
)
 
Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total
 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
589,250

 
 
36,421

 
 
(8,589
)
 
 
617,082

 
Voyage expenses
(286,322
)
 
 
—

 
 
8,589

 
 
(277,733
)
 
Vessel operating expenses
(129,555
)
 
 
(27,171
)
 
 
—

 
 
(156,726
)
 
Time-charter hire expenses
(26,497
)
 
 
(4,380
)
 
 
—

 
 
(30,877
)
 
Depreciation and amortization
(89,422
)
 
 
(2,637
)
 
 
—

 
 
(92,059
)
 
General and administrative expenses (3)
(25,030
)
 
 
(2,382
)
 
 
—

 
 
(27,412
)
 
Income (loss) from operations
32,424

 
 
(149
)
 
 
—

 
 
32,275

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
652

 
 
—

 
 
—

 
 
652

 

Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
Conventional Tanker Segment
 
Ship-to-Ship Transfer Segment
 
Inter-segment
Adjustment (1)
 
Total

 
 
$
 
 
$
 
 
$
 
 
$
 
Revenues (2)
490,083

 
 
35,061

 
 
(9,105
)
 
 
516,039

 
Voyage expenses
(259,079
)
 
 
—

 
 
9,105

 
 
(249,974
)
 
Vessel operating expenses
(131,886
)
 
 
(25,922
)
 
 
—

 
 
(157,808
)
 
Time-charter hire expenses
(10,326
)
 
 
(4,371
)
 
 
—

 
 
(14,697
)
 
Depreciation and amortization
(85,171
)
 
 
(3,427
)
 
 
—

 
 
(88,598
)
 
General and administrative expenses (3)
(25,385
)
 
 
(2,554
)
 
 
—

 
 
(27,939
)
 
Gain on sale of vessel
—

 
 
170

 
 
—

 
 
170

 
Restructuring charges
(152
)
 
 
(1,043
)
 
 
—

 
 
(1,195
)
 
Loss from operations
(21,916
)
 
 
(2,086
)
 
 
—

 
 
(24,002
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity income
265

 
 
—

 
 
—

 
 
265

 
(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 was based on actual costs incurred.
(2)
Revenues, net of the inter-segment adjustment, earned from the ship-to-ship transfer segment are reflected in Other Revenues in the Company's consolidated statements of loss.
(3)
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
 
As at
 
September 30, 2019
 
December 31, 2018
 
$
 
$
Conventional Tanker Segment
2,059,873

 
2,069,854

Ship-to-Ship Transfer Segment
33,560

 
36,315

Cash and cash equivalents
76,705

 
54,917

Consolidated total assets
2,170,138

 
2,161,086