XML 65 R57.htm IDEA: XBRL DOCUMENT v3.19.2
Long-Term Debt Narrative (Details)
$ / shares in Units, € in Millions, shares in Millions
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jan. 31, 2018
USD ($)
Jan. 27, 2010
USD ($)
May 31, 2019
USD ($)
vessel
Nov. 30, 2015
USD ($)
Jun. 30, 2019
USD ($)
vessel
SecurityLoan
term_loan
$ / shares
shares
Mar. 31, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
subsidiary
vessel
SecurityLoan
credit_facility
term_loan
$ / shares
shares
Jun. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
vessel
Dec. 31, 2014
USD ($)
Jun. 30, 2019
NOK (kr)
vessel
SecurityLoan
term_loan
shares
Jun. 30, 2019
EUR (€)
vessel
SecurityLoan
term_loan
shares
Dec. 31, 2018
EUR (€)
vessel
Mar. 31, 2018
USD ($)
Jan. 26, 2018
USD ($)
$ / shares
May 31, 2015
NOK (kr)
Debt Instrument [Line Items]                                  
Long-term Debt, Maturities, Repayments of Principal after Year Five         $ 528,400,000     $ 528,400,000                  
Gain (Loss) on Extinguishment of Debt         (10,700,000)                        
Repayments of Senior Debt           $ 10,900,000                      
Long-term debt, gross         2,891,199,000     2,891,199,000   $ 3,363,127,000              
Long-term Debt         2,843,325,000     2,843,325,000   $ 3,319,523,000              
Foreign exchange (loss) gain (notes 9 and 15)         $ (5,851,000)   $ 12,529,000 $ (8,481,000) $ 12,551,000                
Long-term Debt, Weighted Average Interest Rate, at Point in Time         4.90%     4.90%   5.10%   4.90% 4.90% 5.10%      
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year         $ 120,100,000     $ 120,100,000                  
Long-term Debt, Maturities, Repayments of Principal in Year Two         703,800,000     703,800,000                  
Long-term Debt, Maturities, Repayments of Principal in Year Three         826,800,000     826,800,000                  
Long-term Debt, Maturities, Repayments of Principal in Year Four         373,100,000     373,100,000                  
Long-term Debt, Maturities, Repayments of Principal in Year Five         $ 339,000,000     $ 339,000,000                  
Number Of Loan Agreements | SecurityLoan         5     5       5 5        
Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Vessel Market Value To Loan Ratio         135.00%     135.00%       135.00% 135.00%        
Vessel Market Value to Loan Required Ratio         115.00%     115.00%       115.00% 115.00%        
Undrawn Revolving Credit Facilities Time To Maturity               6 months                  
Maximum                                  
Debt Instrument [Line Items]                                  
Vessel Market Value To Loan Ratio         511.00%     511.00%       511.00% 511.00%        
Vessel Market Value to Loan Required Ratio         135.00%     135.00%       135.00% 135.00%        
Term Loan One [Member]                                  
Debt Instrument [Line Items]                                  
Minimum Level Of Free Cash Maintained Per Loan Agreements         $ 100,000,000     $ 100,000,000                  
Term Loan One [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt         7.50%     7.50%       7.50% 7.50%        
Term Loan Two [Member]                                  
Debt Instrument [Line Items]                                  
Minimum Level Of Free Cash Maintained Per Loan Agreements         $ 50,000,000     $ 50,000,000                  
Secured Debt [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Debt Instruments | term_loan               10                  
Long-term debt, gross         $ 1,400,000,000     $ 1,400,000,000   $ 1,500,000,000              
Number Of Debt Instruments With Balloon Or Bullet Payments | term_loan         8     8       8 8        
Number Of Vessels Held As Collateral | vessel         24     24   24   24 24 24      
Secured Debt [Member] | Remaining Term Loans [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage         4.49%     4.49%       4.49% 4.49%        
Secured Debt [Member] | Remaining Term Loans [Member] | Fixed Rate [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Debt Instruments | term_loan               2                  
Secured Debt [Member] | Remaining Term Loans [Member] | Three Month London Interbank Offered Rate [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               0.30%   0.30%              
Secured Debt [Member] | Remaining Term Loans [Member] | Three Month London Interbank Offered Rate [Member] | Maximum                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               3.25%   3.50%              
Secured Debt [Member] | Remaining Secured Debt [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Debt Instruments | credit_facility               2                  
Senior Notes (8.5%) due January 15, 2020                                  
Debt Instrument [Line Items]                                  
Long-term debt, percentage bearing fixed interest, percentage rate   8.50%   8.50% 8.50%     8.50%       8.50% 8.50%        
Debt instrument, principal amount   $ 450,000,000   $ 200,000,000                          
Percentage Of Par At Which Notes Sold   99.20%   99.01%                          
Debt Instrument, Interest Rate, Effective Percentage         8.67%     8.67%       8.67% 8.67%        
Repayments of Senior Debt     $ 460,900,000             $ 84,100,000 $ 57,300,000            
Debt Instrument, Redemption Price, Percentage               100.00%                  
Long-term debt, gross         $ 36,712,000     $ 36,712,000   508,577,000              
Senior Notes due 2022 [Member]                                  
Debt Instrument [Line Items]                                  
Long-term debt, percentage bearing fixed interest, percentage rate     9.25%   9.25%     9.25%       9.25% 9.25%        
Debt instrument, principal amount     $ 250,000,000                            
Long-term debt, gross         $ 250,000,000     $ 250,000,000   0              
Convertible Debt [Member] | Convertible Senior Notes due 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Convertible, Conversion Ratio 85.4701                                
Debt Instrument, Convertible, If-converted Value in Excess of Principal $ 1,000                                
Debt Instrument, Convertible, Conversion Price | $ / shares                               $ 11.70  
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger 20.00%                                
Sale of Stock, Price Per Share | $ / shares                               9.75  
Revolving Credit Facilities                                  
Debt Instrument [Line Items]                                  
Credit facility, maximum borrowing capacity         886,779,169     886,779,169                  
Line of Credit Facility, Remaining Borrowing Capacity         400,000,000     400,000,000                  
Line Of Credit Reduction Of Available Borrowing Capacity Remainder Of Fiscal Year         17,400,000     17,400,000                  
Line Of Credit Reduction Of Available Borrowing Capacity In Year Two         372,400,000     372,400,000                  
Line Of Credit Reduction Of Available Borrowing Capacity In Year Three         329,200,000     329,200,000                  
Line Of Credit Reduction Of Available Borrowing Capacity In Year Four         $ 167,800,000     $ 167,800,000                  
Debt Instrument, Collateral, Number of Vessels | vessel         36     36       36 36        
Long-term debt, gross         $ 500,930,000     $ 500,930,000   642,997,000              
Number Of Credit Facilities | term_loan         5     5       5 5        
Revolving Credit Facilities | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               1.40%                  
Revolving Credit Facilities | Maximum                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               3.95%                  
Revolving Credit Facilities | Secured Debt [Member]                                  
Debt Instrument [Line Items]                                  
Credit facility, maximum borrowing capacity         $ 150,000,000.0     $ 150,000,000.0                  
Teekay Offshore [Member] | Revolving Credit Facilities                                  
Debt Instrument [Line Items]                                  
Credit facility, maximum borrowing capacity                             $ 125,000,000    
Teekay LNG                                  
Debt Instrument [Line Items]                                  
Minimum Level Of Free Cash Maintained Per Loan Agreements         35,000,000.0     35,000,000.0                  
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member]                                  
Debt Instrument [Line Items]                                  
Debt instrument, principal amount | kr                                 kr 3,050,000,000
Unsecured Debt | kr                       kr 3,100,000,000          
Senior Notes         357,500,000     357,500,000   353,000,000              
Notional Amount         $ 382,500,000     $ 382,500,000                  
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               3.70%                  
Derivative, Fixed Interest Rate         5.92%     5.92%       5.92% 5.92%        
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member] | Maximum                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               6.00%                  
Derivative, Fixed Interest Rate         7.89%     7.89%       7.89% 7.89%        
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Debt Instruments | term_loan               2                  
Number Of Vessels Held As Collateral | vessel         2     2       2 2        
Long-term Debt         $ 180,100,000     $ 180,100,000   $ 193,800,000     € 158.4 € 169.0      
Number of Subsidiaries | subsidiary               1                  
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               0.60%                  
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member] | Maximum                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Basis Spread on Variable Rate               1.95%                  
Teekay Tankers [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Vessels | vessel                   6              
Teekay Tankers [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt         5.00%     5.00%       5.00% 5.00%        
Teekay Tankers [Member] | 2016 Debt Facility Maturing in January 2021 [Member]                                  
Debt Instrument [Line Items]                                  
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line         $ 35,000,000.0     $ 35,000,000.0                  
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt         5.00%     5.00%       5.00% 5.00%        
Teekay Tankers [Member] | 2016 Debt Facility Maturing in January 2021 [Member] | Minimum [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Term               6 months                  
Teekay Tankers [Member] | Long-term Debt [Member]                                  
Debt Instrument [Line Items]                                  
Debt Guaranteed         $ 155,800,000     $ 155,800,000                  
Common Class A [Member] | Teekay LNG | Revolving Credit Facilities                                  
Debt Instrument [Line Items]                                  
Common Unit, Issued | shares         25.2     25.2       25.2 25.2        
Common Class A [Member] | Teekay Tankers [Member] | Revolving Credit Facilities                                  
Debt Instrument [Line Items]                                  
Common Unit, Issued | shares         40.3     40.3       40.3 40.3        
Common Stock | Convertible Debt [Member] | Convertible Senior Notes due 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Dividends payable, amount per share (in USD per share) | $ / shares                               $ 0.055  
Parent Company [Member] | Convertible Debt [Member] | Convertible Senior Notes due 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Debt instrument, principal amount                               $ 125,000,000  
Debt Instrument, Interest Rate, Stated Percentage                               5.00%  
Proceeds from Convertible Debt $ 104,600,000                                
Debt Instrument, Convertible Term 5 years                                
Debt Instrument, Convertible, Carrying Amount of Equity Component                               $ 16,100,000  
Parent Company [Member] | Teekay Offshore [Member] | Revolving Credit Facilities                                  
Debt Instrument [Line Items]                                  
Credit facility, maximum borrowing capacity                             $ 25,000,000    
Parent Company [Member] | Common Stock                                  
Debt Instrument [Line Items]                                  
Sale of Stock, Price Per Share | $ / shares         $ 9.75     $ 9.75                  
FPSO contracts                                  
Debt Instrument [Line Items]                                  
Number Of Vessels | vessel     2                            
FPSO contracts | Asset Pledged as Collateral [Member]                                  
Debt Instrument [Line Items]                                  
Number Of Vessels | vessel     3