Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2013

The following tables present results for these segments for the years ended December 31, 2013, 2012, and 2011.


Year ended December 31, 2013	Shuttle Tanker and FSO Segment $		FPSO Segment $			Liquefied Gas Segment $		Conventional Tanker Segment $			Total $

Revenues		583,201		567,620			298,228		381,036			1,830,085
Voyage expenses		99,111		—			602		12,505			112,218
Vessel operating expenses		182,973		364,986			61,471		196,722			806,152
Time-charter hire expense		56,682		—			—		46,964			103,646
Depreciation and amortization		116,376		151,365			71,485		91,860			431,086
General and administrative ⁽¹⁾		37,529		51,891			19,597		31,941			140,958
Asset impairments		76,782		—			—		90,823			167,605
Loan loss provisions		—		2,634			—		(1,886	)		748
Net gain on sale of vessels and equipment		—		(1,338	)		—		(657	)		(1,995	)
Restructuring charges		2,123		—			—		4,798			6,921

Income (loss) from vessel operations		11,625		(1,918	)		145,073		(92,034	)		62,746


Total assets of operating segments at December 31, 2013		1,947,905		2,836,998			3,616,044		1,874,101			10,275,048


Year ended December 31, 2012	Shuttle Tanker and FSO Segment $		FPSO Segment $		Liquefied Gas Segment $		Conventional Tanker Segment $			Total $

Revenues		616,295		581,215		291,712		491,549			1,980,771
Voyage expenses		104,382		232		283		33,386			138,283
Vessel operating expenses		196,021		354,020		54,773		208,512			813,326
Time-charter hire expense		56,989		—		—		73,750			130,739
Depreciation and amortization		125,104		135,413		69,064		126,317			455,898
General and administrative ⁽¹⁾		36,484		45,139		18,643		44,030			144,296
Asset impairments		28,830		—		—		403,366			432,196
Loan loss provisions		—		—		—		1,886			1,886
Net loss on sale of vessels and equipment		1,112		—		—		5,863			6,975
Restructuring charges		652		—		—		6,913			7,565

Income (loss) from vessel operations		66,721		46,411		148,949		(412,474	)		(150,393	)


Total assets of operating segments at December 31, 2012		1,709,674		2,824,832		3,148,037		2,037,394			9,719,938


Year ended December 31, 2011	Shuttle Tanker and FSO Segment $		FPSO Segment $			Liquefied Gas Segment $		Conventional Tanker Segment $			Total $

Revenues		617,650		464,810			273,786		619,776			1,976,022
Voyage expenses		97,743		—			4,862		74,009			176,614
Vessel operating expenses		216,183		255,925			54,174		223,657			749,939
Time-charter hire expense		74,478		—			—		139,701			214,179
Depreciation and amortization		129,293		96,915			63,641		138,759			428,608
General and administrative ⁽¹⁾		44,594		39,261			16,315		73,434			173,604
Asset impairments		43,185		—			—		112,103			155,288
Net loss (gain) on sale of vessels and equipment		171		(4,888	)		—		488			(4,229	)
Bargain purchase gain		—		(68,535	)		—		—			(68,535	)
Goodwill impairment		—		—			—		36,652			36,652
Restructuring charges		5,351		—			—		139			5,490

Income (loss) from vessel operations		6,652		146,132			134,794		(179,166	)		108,412

(1)	Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).

Reconciliation of Total Segment Assets

A reconciliation of total segment assets to amounts presented in the accompanying consolidated balance sheets is as follows:


	December 31, 2013 $		December 31, 2012 $
Total assets of all segments		10,275,048		9,719,938
Cash		614,660		639,491
Accounts receivable and other assets		665,993		642,596

Consolidated total assets		11,555,701		11,002,025

Revenues and Percentage of Consolidated Revenues

The following table presents revenues and percentage of consolidated revenues for customers that accounted for more than 10% of the Company’s consolidated revenues during the periods presented. All of these customers are international oil companies.


(U.S. dollars in millions)	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Statoil ASA ⁽¹⁾	$	250.5 or 14	%	$	299.1 or 15	%	$	283.7 or 14	%
Petroleo Brasileiro SA ⁽¹⁾	$	244.3 or 13	%	$	289.3 or 15	%	$	224.9 or 11	%
BP PLC ⁽²⁾	$	182.5 or 10	%		(3	)		(3	)

(1)	Shuttle tanker and FSO, FPSO and conventional tanker segments

(2)	Shuttle tanker and FSO, FPSO, liquefied gas and conventional tanker segments

(3)	Less than 10%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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