XML 48 R33.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Net Income of Consolidated Partially-Owned Entities and Attribution of Net Income to Controlling and Non-controlling Interests
The total net income of Teekay’s consolidated partially-owned entities and the attribution of that net income to controlling and non-controlling interests is as follows:

 
Net income (loss) attributable to non-controlling interests
 
Controlling Interest
 
Net income (loss) of consolidated partially-owned entities (1)
 
Non-public partially-owned subsidiaries
 
Preferred unit holders
 
Distri-
buted Earnings(2)
 
Undistri-
buted Earnings
 
Total Net income (loss) attribut-
able
 
Distri-
buted Earnings
 
Undistri-
buted Earnings
 
Total Controlling Interest (Teekay)
 
Teekay Offshore
11,858

 
45,835

 
41,688

 
(46,155
)
 
53,226

 
18,378

 
(27,129
)
 
(8,751
)
 
44,475

Teekay LNG
17,514

 
2,719

 
30,444

 
60,545

 
111,222

 
15,026

 
31,717

 
46,743

 
157,965

Teekay Tankers
—

 
—

 
—

 
47,459

 
47,459

 
—

 
14,820

 
14,820

 
62,279

Other entities and eliminations
—

 
—

 
—

 
—

 
(2,061
)
 
 
 
 
 
 
 
 
For the Year Ended December 31, 2016
29,372

 
48,554

 
72,132

 
61,849

 
209,846

 
 
 
 
 
 
 
 
Teekay Offshore
13,911

 
28,609

 
119,971

 
(103,949
)
 
58,542

 
70,414

 
(38,913
)
 
31,501

 
90,043

Teekay LNG
16,627

 
—

 
120,482

 
(1,510
)
 
135,599

 
82,791

 
(880
)
 
81,911

 
217,510

Teekay Tankers
—

 
—

 
—

 
129,725

 
129,725

 
—

 
47,202

 
47,202

 
176,927

Other entities and eliminations
—

 
—

 
—

 
—

 
(557
)
 

 

 

 

For the Year Ended December 31, 2015
30,538

 
28,609

 
240,453

 
24,266

 
323,309

 
 
 
 
 
 
 
 
Teekay Offshore
10,503

 
10,875

 
136,743

 
(150,724
)
 
7,397

 
71,166

 
(60,907
)
 
10,259

 
17,656

Teekay LNG
13,489

 
—

 
143,292

 
(26,116
)
 
130,665

 
101,946

 
(13,684
)
 
88,262

 
218,927

Teekay Tankers
—

 
—

 
—

 
41,048

 
41,048

 
—

 
16,094

 
16,094

 
57,142

Other entities and eliminations
—

 
—

 
—

 
—

 
(351
)
 

 

 

 
 
For the Year Ended December 31, 2014
23,992

 
10,875

 
280,035

 
(135,792
)
 
178,759

 
 
 
 
 
 
 
 
(1)
Includes earnings from common shares and preferred shares.
(2)
Excludes the results of the acquisition of interests in vessels between Teekay Corporation, Teekay Offshore and Teekay Tankers during the periods the vessels were under common control and had begun operations.
Summary of Capitalized Dry Docking Costs
The continuity of capitalized dry-docking costs for the years ended December 31, 2016, 2015, and 2014, is summarized as follows:

 
Year Ended December 31,
 
2016
$
 
2015
$
 
2014
$
Balance at the beginning of the year
150,702

 
135,331

 
118,194

Costs incurred for dry dockings
47,980

 
69,927

 
74,018

Dry-dock amortization
(55,026
)
 
(47,271
)
 
(50,926
)
Write-down / sales of vessels
(7,956
)
 
(7,285
)
 
(5,955
)
Balance at the end of the year
135,700

 
150,702

 
135,331
Summary of Financing Receivables
The following table contains a summary of the Company’s financing receivables by type of borrower, the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis, and the grade as of December 31, 2016.

 
 
 
 
 
December 31,
Class of Financing Receivable
Credit Quality Indicator
 
Grade
 
2016
$
 
2015
$
Direct financing leases
Payment activity
 
Performing
 
660,594

 
684,129

Other loan receivables
 
 
 
 
 
 
 
Loans to equity-accounted investees and joint venture partners
Other internal metrics
 
Performing
 
304,030

 
191,517

Long-term receivable included in other assets
Payment activity
 
Performing
 
17,712

 
37,032

 
 
 
 
 
982,336

 
912,678
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table contains the changes in the balances of each component of accumulated other comprehensive income (loss) attributable to shareholders of Teekay for the periods presented.
 
Qualifying Cash Flow Hedging Instruments
$
 
Pension Adjustments
$
 
Unrealized (Loss) Gain on Available for Sale Marketable Securities
$
 
Foreign Exchange Gain (Loss) on Currency Translation
$
 
Total
$
Balance as of December 31, 2013
17

 
(18,919
)
 
(171
)
 
1,884

 
(17,189
)
  Other comprehensive (loss) income
(485
)
 
(10,969
)
 
171

 
174

 
(11,109
)
Balance as of December 31, 2014
(468
)
 
(29,888
)
 
—

 
2,058

 
(28,298
)
  Other comprehensive income (loss)
49

 
14,038

 
(463
)
 
(217
)
 
13,407

Balance as of December 31, 2015
(419
)
 
(15,850
)
 
(463
)
 
1,841

 
(14,891
)
  Other comprehensive income
378

 
3,690

 
47

 
173

 
4,288

Balance as of December 31, 2016
(41
)
 
(12,160
)
 
(416
)
 
2,014

 
(10,603
)