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Segment Reporting
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
The Company has two reportable segments, its tanker segment and its ship-to-ship transfer segment. The Company’s tanker segment consists of the operation of all of its tankers, including the operations from TTOL and TIL, which were acquired in 2017 (notes 7 and 24) and those tankers 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 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 income (loss) 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 revenue and income (loss) from operations by segment for the years ended December 31, 2019, 2018 and 2017:

Year Ended December 31, 2019
Tanker
Segment
$
 
Ship-to-Ship
Transfer
Segment
$
 
Inter-segment
Adjustment (1)
$
 
Total
$
Revenues (2)
908,778

 
46,641

 
(11,502
)
 
943,917

Voyage expenses
(413,796
)
 
—

 
11,502

 
(402,294
)
Vessel operating expenses
(174,779
)
 
(33,822
)
 
—

 
(208,601
)
Time-charter hire expense
(37,225
)
 
(5,964
)
 
—

 
(43,189
)
Depreciation and amortization
(120,468
)
 
(3,534
)
 
—

 
(124,002
)
General and administrative expenses (4)
(32,938
)
 
(3,466
)
 
—

 
(36,404
)
Loss and write-down on sale of vessels
(5,534
)
 
(10
)
 
—

 
(5,544
)
Income (loss) from operations
124,038

 
(155
)
 
—

 
123,883

Equity income
2,345

 
—

 
—

 
2,345


 
Year Ended December 31, 2018
Tanker
Segment
$
 
Ship-to-Ship
Transfer
Segment
$
 
Inter-segment
Adjustment (1)
$
 
Total
$
Revenues (2)
740,806

 
48,175

 
(12,488
)
 
776,493

Voyage expenses
(393,794
)
 
—

 
12,488

 
(381,306
)
Vessel operating expenses
(174,278
)
 
(34,853
)
 
—

 
(209,131
)
Time-charter hire expense
(13,537
)
 
(6,001
)
 
—

 
(19,538
)
Depreciation and amortization
(114,062
)
 
(4,452
)
 
—

 
(118,514
)
General and administrative expenses (4)
(36,481
)
 
(3,294
)
 
—

 
(39,775
)
Gain on sale of vessel
—

 
170

 
—

 
170

Restructuring charges
(152
)
 
(1,043
)
 
—

 
(1,195
)
Income (loss) from operations
8,502


(1,298
)
 
—

 
7,204

Equity income
1,220

 
—

 
—

 
1,220


Year Ended December 31, 2017
Tanker
Segment
$
 
Ship-to-Ship
Transfer
Segment
$
 
Inter-segment
Adjustment (1)
$
 
Total
$
Revenues (2)(3)
391,267

 
50,422

 
(10,511
)
 
431,178

Voyage expenses (3)
(87,879
)
 
—

 
10,511

 
(77,368
)
Vessel operating expenses
(135,740
)
 
(39,649
)
 
—

 
(175,389
)
Time-charter hire expense
(25,666
)
 
(4,995
)
 
—

 
(30,661
)
Depreciation and amortization
(95,433
)
 
(5,048
)
 
—

 
(100,481
)
General and administrative expenses (4)
(29,539
)
 
(3,340
)
 
—

 
(32,879
)
(Loss) gain and write-down on sale of vessel
(13,034
)
 
50

 
—

 
(12,984
)
Income (loss) from operations
3,976

 
(2,560
)
 
—

 
1,416

Equity loss
(25,370
)
 
—

 
—

 
(25,370
)
(1)
The ship-to-ship transfer segment provides lightering support services to the tanker segment for full service lightering operations and the pricing for such services is based on actual costs incurred during 2019, 2018 and 2017.
(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 income (loss).
(3)
The year ended December 31, 2017 does not include the impact of the January 1, 2018 adoption of ASU 2014-09.
(4)
Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources) (note 16e). 

A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:
 
As at
December 31, 2019
$
 
As at
December 31, 2018
$
Tanker
2,106,943

 
2,069,854

Ship-to-Ship Transfer
33,709

 
36,315

Cash and cash equivalents
88,824

 
54,917

Total assets (notes 21 and 25)
2,229,476

 
2,161,086