XML 78 R40.htm IDEA: XBRL DOCUMENT v3.23.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurement Inputs and Valuation Techniques The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at a fair value on a recurring basis. All amounts exclude all assets and liabilities of the Teekay Gas Business (see Note 23).
December 31, 2022December 31, 2021
Fair Value
Hierarchy
Level
Carrying
Amount
Asset (Liability)
$
Fair
Value
Asset (Liability)
$
Carrying
Amount
Asset (Liability)
$
Fair
Value
Asset (Liability)
$
Recurring
Cash, cash equivalents and restricted cashLevel 1316,706 316,706 114,339 114,339 
Short-term investmentsLevel 1210,000 210,000 — — 
 Derivative instruments (note 15)
Interest rate swap agreements – assetsLevel 23,709 3,709 550 550 
Foreign currency contractsLevel 2— — (58)(58)
Freight forward agreementsLevel 2— — (4)(4)
Non-recurring
Assets held for sale (note 18)
Level 2  40,854 40,854 
Investment in equity-accounted investment (note 22)
Level 29,174 9,174 
Other
Advances to equity-accounted joint venture – long-term
Level 2
6,780 
(1)
3,780 
(1)
Short-term debt (note 7)
Level 2— — (25,000)(25,000)
Long-term debt, including current portion – public (note 8)
Level 1— — (239,807)(240,963)
Long-term debt, including current portion – non-public (note 8)
Level 2(21,184)(21,078)(431,673)(436,892)
Obligations related to finance leases, including current portion
(note 10)
Level 2(532,760)(533,977)(294,481)(306,386)
(1)The advances to its equity-accounted joint venture, together with the Company’s investment in the equity-accounted joint venture, form the net aggregate carrying value of the Company’s interests in the equity-accounted joint venture in these consolidated financial statements. As at December 31, 2022, the fair values of the individual components of such aggregate interests were not determinable. As at December 31, 2021, the Company's investment in its equity-accounted joint venture was written-down to its estimated fair value. At such time, the fair value of the Company's advance to its equity-accounted joint venture was estimated to approximate its carrying value