6-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K/A

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2014

Commission file number 1- 12874

TEEKAY CORPORATION

(Exact name of Registrant as specified in its charter)

4th Floor, Belvedere Building

69 Pitts Bay Road

Hamilton, HM 08 Bermuda

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  x            Form 40- F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).

Yes  ¨            No   x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).

Yes  ¨            No   x

EXPLANATORY NOTE

This Amendment No. 1 to the Report on Form 6-K for the quarter ended June 30, 2014, originally filed with the Securities and Exchange Commission on September 2, 2014 (the “Form 6-K”), is being filed solely for the purposes of furnishing Interactive Data File disclosure as Exhibit 101 in accordance with Rule 405 of Regulation S-T. This Exhibit was not previously filed.

Other than as expressly set forth above, this Form 6-K/A does not, and does not purport to, amend, update or restate the information in any other item of the Form 6-K, or reflect any events that have occurred after the Form 6-K was originally filed. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 6. Exhibits

Exhibit Number

Description

101

The following financial information from Teekay Corporation’s Report on Form 6-K for the quarter ended June 30, 2014, filed with the SEC on September 2, 2014, formatted in Extensible Business Reporting Language (XBRL): (i) Unaudited Consolidated Statements of (Loss) Income for the three and six months ended June 30, 2014 and 2013; (ii) Unaudited Consolidated Statements of Comprehensive (Loss) Income for the three and six months ended June 30, 2014 and 2013; (iii) Unaudited Consolidated Balance Sheets as at June 30, 2014 and December 31, 2013; (iv) Unaudited Consolidated Statements of Cash Flows for the six months ended June 30, 2014 and 2013; (v) Unaudited Consolidated Statement of Changes In Total Equity for the six months ended June 30, 2014; and (vi) Notes to the Unaudited Consolidated Financial Statements.

THIS REPORT ON FORM 6-K/A IS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING REGISTRATION STATEMENTS OF TEEKAY CORPORATION:

• REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 33-97746) FILED WITH THE SEC ON OCTOBER 4, 1995;

• REGISTRATION STATEMENT ON FORM F-3 (FILE NO. 333-192753) FILED WITH THE SEC ON DECEMBER 10, 2013;

• REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-42434) FILED WITH THE SEC ON JULY 28, 2000;

• REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-119564) FILED WITH THE SEC ON OCTOBER 6, 2004;

• REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-147683) FILED WITH THE SEC ON NOVEMBER 28, 2007;

• REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-166523) FILED WITH THE SEC ON MAY 5, 2010; AND

• REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-187142) FILED WITH THE SEC ON MARCH 8, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TEEKAY CORPORATION
Date: December 5, 2014	By:	/s/ Vincent Lok
		Vincent Lok
		Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

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Net (Loss) Income Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Schedule of Net (Loss) Income Per Share

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
	$			$		$			$
Net (loss) income attributable to stockholders of Teekay Corporation		(42,987	)		11,367		(43,475	)		5,231
Weighted average number of common shares		72,036,526			70,393,531		71,687,549			70,142,301
Dilutive effect of stock-based compensation		—			921,098		—			1,000,062
Common stock and common stock equivalents		72,036,526			71,314,629		71,687,549			71,142,363
(Loss) income per common share:
- Basic		(0.60	)		0.16		(0.61	)		0.07
- Diluted		(0.60	)		0.16		(0.61	)		0.07

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Vessel Sales, Asset Impairments and Provisions - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended			1 Months Ended	3 Months Ended	6 Months Ended	1 Months Ended	3 Months Ended	1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014 Conventional Tanker [Member]	Jun. 30, 2013 Conventional Tanker [Member]	Jun. 30, 2014 Conventional Tanker [Member]	Jun. 30, 2013 Conventional Tanker [Member] Vessel	Jun. 30, 2014 FPSO Segment [Member]	Jun. 30, 2013 FPSO Segment [Member]	Jun. 30, 2014 FPSO Segment [Member]	Jun. 30, 2013 FPSO Segment [Member]	Jun. 30, 2014 Suezmax tankers [Member]	Mar. 31, 2014 VLCC [Member] Vessel	Mar. 31, 2014 VLCC [Member]	Jun. 30, 2014 Sold Asset [Member] Suezmax tankers [Member] Vessel	May 31, 2014 Sold Asset [Member] VLCC [Member] Vessel	Jun. 30, 2014 Teekay Tankers [Member] Subsidiaries	May 31, 2014 Teekay Tankers [Member] VLCC [Member]
Long Lived Assets Held-for-sale [Line Items]
Number of subsidiaries sold																		2
Aggregate proceeds received																		$ 154,000,000
Related working capital receivable																		1,700,000
Revolving credit facilities repaid																		152,000,000
Gain on sale of assets	9,615,000	1,341,000	9,453,000	1,309,000	9,615,000	3,000	9,453,000	(29,000)		1,338,000		1,338,000	(500,000)					10,000,000	10,000,000
Number of vessels								3						3		4	2
Reversal of loss provision related to receivable									2,521,000		2,521,000
Loan loss provisions recorded in respect of investments	(2,521,000)	7,042,000	(2,521,000)	10,207,000		7,042,000		10,207,000	(2,521,000)		(2,521,000)
Aggregate fair value of vessels														222,000,000	222,000,000
Interest income recognized	793,000	2,018,000	2,576,000	3,036,000											15,200,000
Interest receivable														$ 11,200,000	$ 11,200,000

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Investments - Additional Information - Teekay LNG - BG International Limited Joint Venture (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended	6 Months Ended
	Jun. 30, 2014 Vessel	Jun. 30, 2014
Net Investment Income [Line Items]
Expected cost of project		$ 1,500
BG International Limited [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Net Investment Income [Line Items]
Volume of vessels	174,000
Expected cost of project	1,000
Teekay LNG [Member] | BG International Limited [Member] | Newbuildings [Member]
Net Investment Income [Line Items]
Number of vessels	2
Teekay LNG [Member] | BG International Limited [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Net Investment Income [Line Items]
Number of vessels	4
Operating lease arrangement period, lessor		20 years
Investments in joint venture	20.3	20.3
Fair value of service obligation	30.2	30.2
Fair value of amount due	16.5	16.5
Ownership Percentage	30.00%	30.00%
Teekay LNG [Member] | BG International Limited [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member] | Scenario, Forecast [Member]
Net Investment Income [Line Items]
Ship construction support	36.7
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member]
Net Investment Income [Line Items]
Number of vessels	2
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Net Investment Income [Line Items]
Number of vessels	4
Expected cost of project	1,000
Ownership Percentage	20.00%	20.00%
Excess of book value over the investment	$ 13.7	$ 13.7

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Financial Instruments - Fair Value of Financial Instruments and Other Non-Financial Assets (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	$ 354
Assets held for sale		176,247
Investment in term loans		211,579
Loans to equity accounted investees and joint venture partners - Current	21,634	37,019
Loans to equity accounted investees and joint venture partners - Long-term	133,526	132,229
Liabilities associated with assets held for sale		(168,007)
Long-term debt	(6,732,367)	(6,109,470)
Fair Value Asset (Liability) [Member] | Level 1 [Member] | Public [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(1,873,925)	(1,376,829)
Fair Value Asset (Liability) [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities associated with assets held for sale		(168,007)
Long-term receivable included in other assets	16,452
Fair Value Asset (Liability) [Member] | Level 2 [Member] | Private [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(4,830,135)	(4,582,274)
Fair Value Asset (Liability) [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in term loans		209,570
Loans to equity accounted investees and joint venture partners - Current	21,634	37,019
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, restricted cash, and marketable securities	1,254,309	1,119,966
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest rate swap agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - assets	122,506	91,415
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest rate swap agreements 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - liabilities	(506,314)	(410,470)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Cross currency swap agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(63,741)	(52,219)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Foreign currency contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts	(354)	(1,480)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member] | Warrant [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stock purchase warrants	8,051
Fair Value Asset (Liability) [Member] | Non-recurring [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels and equipment		17,250
Assets held for sale		176,247
Carrying Amount Asset (Liability) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans to equity accounted investees and joint venture partners - Long-term	133,526	132,229
Carrying Amount Asset (Liability) [Member] | Level 1 [Member] | Public [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(1,766,576)	(1,313,358)
Carrying Amount Asset (Liability) [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities associated with assets held for sale		(168,007)
Long-term receivable included in other assets	16,452
Carrying Amount Asset (Liability) [Member] | Level 2 [Member] | Private [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(4,965,791)	(4,796,112)
Carrying Amount Asset (Liability) [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in term loans		211,579
Loans to equity accounted investees and joint venture partners - Current	21,634	37,019
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, restricted cash, and marketable securities	1,254,309	1,119,966
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest rate swap agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - assets	122,506	91,415
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest rate swap agreements 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - liabilities	(506,314)	(410,470)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Cross currency swap agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(63,741)	(52,219)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Foreign currency contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts	(354)	(1,480)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member] | Warrant [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stock purchase warrants	8,051
Carrying Amount Asset (Liability) [Member] | Non-recurring [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels and equipment		17,250
Assets held for sale		$ 176,247

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Long-Term Debt - Summary of Long-Term Debt (Detail) In Thousands, unless otherwise specified	Jun. 30, 2014 USD ($)	Dec. 31, 2013 USD ($)	Jun. 30, 2014 Revolving Credit Facilities [Member] USD ($)	Dec. 31, 2013 Revolving Credit Facilities [Member] USD ($)	Jun. 30, 2014 Senior Notes (8.5%) due January 15, 2020 [Member] USD ($)	Dec. 31, 2013 Senior Notes (8.5%) due January 15, 2020 [Member] USD ($)	Jun. 30, 2014 Norwegian Kroner-denominated Bonds due through January 2019 [Member] USD ($)	Dec. 31, 2013 Norwegian Kroner-denominated Bonds due through January 2019 [Member] USD ($)	Jun. 30, 2014 U.S. Dollar-denominated Term Loans due through 2023 [Member] USD ($)	Dec. 31, 2013 U.S. Dollar-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2014 U.S. Dollar Bonds due through 2023 [Member] USD ($)	Dec. 31, 2013 U.S. Dollar Bonds due through 2023 [Member] USD ($)	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] EUR (€)	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] EUR (€)	Jun. 30, 2014 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] USD ($)	Dec. 31, 2013 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] USD ($)	Jun. 30, 2014 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] Teekay Nakilat Corporation [Member] USD ($)	Dec. 31, 2013 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] Teekay Nakilat Corporation [Member] USD ($)
Debt Instrument [Line Items]
Total	$ 6,732,367	$ 6,109,470	$ 1,610,450	$ 1,919,086	$ 447,598	$ 447,430	$ 847,860	$ 691,778	$ 3,011,214	$ 2,523,523	$ 471,118	$ 174,150	$ 330,845	€ 241,700	$ 340,221	€ 247,600	$ 13,300	$ 13,300	$ 13,282	$ 13,282
Less current portion	655,601	996,425
Long-term portion	$ 6,076,766	$ 5,113,045

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Derivative Instruments and Hedging Activities - Commitment of Foreign Currency Forward Contracts (Detail) In Thousands, unless otherwise specified	Jun. 30, 2014 USD ($)	Jun. 30, 2014 Norwegian Kroner [Member] USD ($)	Jun. 30, 2014 Norwegian Kroner [Member] Foreign currency forward contracts [Member] NOK	Jun. 30, 2014 Singapore Dollar [Member] USD ($)	Jun. 30, 2014 Singapore Dollar [Member] Foreign currency forward contracts [Member] SGD
Derivative [Line Items]
Contract Amount in Foreign Currency			667,700		6,000
Average Forward Rate		6.15		1.26
Fair Value / Carrying Amount of Asset (Liability)	(354)	(400)		46
Expected Maturity Amount of Foreign Currency Derivatives in Current Year	59,697	54,930		4,767
Expected Maturity Amount of Foreign Currency Derivatives in Next Fiscal Year	$ 53,599	$ 53,599

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Investments - Additional Information - Tanker Investments Ltd (Detail) (USD $)	1 Months Ended	6 Months Ended
	Jan. 31, 2014	Jun. 30, 2014
Net Investment Income [Line Items]
Stock purchase warrants		$ 6,839,000
Preferred Stock, Share		0
Tanker Investments Limited [Member]
Net Investment Income [Line Items]
Preferred stock, voting rights		elect one board member
Tanker Investments Limited [Member] | Series A- One Preferred Stock [Member]
Net Investment Income [Line Items]
Preferred Stock, Share	1
Tanker Investments Limited [Member] | Series A- Two Preferred Stock [Member]
Net Investment Income [Line Items]
Preferred Stock, Share	1
Teekay Tankers [Member] | Tanker Investments Limited [Member]
Net Investment Income [Line Items]
Purchase of common stock	5,000,000
Percentage of combined ownership interest	20.00%	13.00%
Issuance of equity private placement	250,000,000
Equity method investment	50,000,000
Stock purchase warrants	6,839,000
Gain from sale of investment		$ 4,100,000
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Suezmax tankers [Member]
Net Investment Income [Line Items]
Number of vessels		4
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Aframax tankers [Member]
Net Investment Income [Line Items]
Number of vessels		5
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Coated Aframax Tankers [Member]
Net Investment Income [Line Items]
Number of vessels		2
Teekay Tankers [Member] | Tanker Investments Limited [Member] | VLCC [Member]
Net Investment Income [Line Items]
Number of vessels		2
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Warrant [Member]
Net Investment Income [Line Items]
Purchase price of common stock	$ 10
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Warrant [Member] | Maximum [Member]
Net Investment Income [Line Items]
Number of shares available through exercise of stock purchase warrant	1,500,000

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Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Summary of Long-Term Debt

	June 30, 2014		December 31, 2013
	$		$
Revolving Credit Facilities		1,610,450		1,919,086
Senior Notes (8.5%) due January 15, 2020		447,598		447,430
Norwegian Kroner-denominated Bonds due through January 2019		847,860		691,778
U.S. Dollar-denominated Term Loans due through 2023		3,011,214		2,523,523
U.S. Dollar Bonds due through 2023		471,118		174,150
Euro-denominated Term Loans due through 2023		330,845		340,221
U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners		13,282		13,282
Total		6,732,367		6,109,470
Less current portion		655,601		996,425
Long-term portion		6,076,766		5,113,045

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Derivative Instruments and Hedging Activities - Commitment of Cross Currency Swaps (Detail) In Thousands, unless otherwise specified			6 Months Ended
	Jun. 30, 2014 USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In October 2015 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In October 2015 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2016 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2016 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2017 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2017 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In May 2017 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In May 2017 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In 2018 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In 2018 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In September 2018 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In September 2018 [Member] NIBOR [Member] NOK	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2019 [Member] NIBOR [Member] USD ($)	Jun. 30, 2014 Cross Currency Interest Rate Contract [Member] Maturing In January 2019 [Member] NIBOR [Member] NOK
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (354)	$ (63,741)	$ (9,537)		$ (8,943)		$ (6,337)		$ (14,513)		$ (14,285)		$ (7,505)		$ (2,621)
Notional Amount NOK			$ 122,800	700,000	$ 89,700	500,000	$ 101,400	600,000	$ 125,000	700,000	$ 143,500	800,000	$ 150,000	900,000	$ 162,200	1,000,000
Receivable Margin			4.75%	4.75%	4.00%	4.00%	5.75%	5.75%	5.25%	5.25%	4.75%	4.75%	4.35%	4.35%	4.25%	4.25%
Fixed Rate Payable			5.52%	5.52%	4.80%	4.80%	7.49%	7.49%	6.88%	6.88%	5.93%	5.93%	6.43%	6.43%	6.28%	6.28%
Remaining Term (years)			1 year 3 months 18 days	1 year 3 months 18 days	1 year 7 months 6 days	1 year 7 months 6 days	2 years 7 months 6 days	2 years 7 months 6 days	2 years 9 months 18 days	2 years 9 months 18 days	3 years 7 months 6 days	3 years 7 months 6 days	4 years 2 months 12 days	4 years 2 months 12 days	4 years 7 months 6 days	4 years 7 months 6 days

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Financial Instruments - Summary of Financing Receivables (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Other loan receivables
Investment in term loans and interest receivable		$ 211,579
Total direct financing leases and other loan receivables	979,322	1,139,723
Payment activity [Member] | Performing [Member]
Summary of financing receivables
Direct financing leases	774,026	727,262
Other loan receivables
Long-term receivable included in other assets	50,136	31,634
Collateral [Member] | Non-Performing [Member]
Other loan receivables
Investment in term loans and interest receivable		211,579
Other internal metrics [Member] | Performing [Member]
Other loan receivables
Loans to equity accounted investees and joint venture partners	$ 155,160	$ 169,248

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Net (Loss) Income Per Share - Additional Information (Detail) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Earnings Per Share [Abstract]
Anti-dilutive effect attributable to outstanding stock-based compensation	3.1	3.1

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Long-Term Debt - Additional Information - Senior unsecured notes (Detail) (Senior Notes (8.5%) due January 15, 2020 [Member], USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
Senior Notes (8.5%) due January 15, 2020 [Member]
Debt Instrument [Line Items]
Fixed interest rate on the portion of U. S. Dollar-denominated term loans outstanding	8.50%
Debt instrument, principal amount	$ 450.0
Percentage over par at which notes sold	99.181%
Effective interest rate	8.625%
Capitalized cost included in other non-current asset	$ 9.4
Debt instrument, redemption price as percentage of principal amount	100.00%
Discount rate for redemption feature	0.50%

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Other (Loss) Income - Summary of Other (Loss) Income (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Other Income and Expenses [Abstract]
TIL stock purchase warrants received			$ 6,839
Loss on bond repurchase				(1,759)
Volatile organic compound emission plant lease income	(166)	39	(67)	197
Impairment of marketable securities		(2,062)		(2,062)
Miscellaneous (loss) income	(568)	637	745	7,480
Other (loss) income	$ (734)	$ (1,386)	$ 7,517	$ 3,856

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Income Tax Expense - Components of Provision for Income Tax Expense (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Current	$ (3,398)	$ (1,943)	$ (6,563)	$ (4,057)
Deferred	205	70	572	(316)
Income tax expense	$ (3,193)	$ (1,873)	$ (5,991)	$ (4,373)

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Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Parenthetical) (Detail)	Jun. 30, 2014	Jun. 30, 2014 Euro-denominated interest rate swaps [Member] USD ($)	Jun. 30, 2014 Euro-denominated interest rate swaps [Member] EUR (€)	Jun. 30, 2014 Floating Rate Payable [Member] USD ($)	Jun. 30, 2014 Derivatives designated as a cash flow hedge [Member] U.S. Dollar-denominated interest rate swaps 3 [Member] 2014 Termination [Member] USD ($)	Jun. 30, 2014 Derivatives designated as a cash flow hedge [Member] U.S. Dollar-denominated interest rate swaps 3 [Member] 2016 Termination [Member] USD ($)
Derivative [Line Items]
Minimum variable interest rate on debt	0.30%
Maximum variable interest rate on debt	4.50%
Interest rate swap aggregate principal amount used to economically hedge on new debt			€ 241,700,000	$ 200,000,000	$ 180,000,000	$ 320,000,000
LIBOR rate receivable fixed				2.14%
Floating LIBOR rate receivable/payable cap				6.00%
Reducing principal amount of Euro-denominated interest rate swaps		$ 96,000,000	€ 70,100,000

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Income Tax Expense - Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Balance of unrecognized tax benefits as at January 1, 2014	$ 20,304
Increase for positions related to the current period	3,822
Decrease related to statute of limitations	(972)
Balance of unrecognized tax benefits as at June 30, 2014	$ 23,154

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Accumulated Other Comprehensive Loss - Schedule of Accumulated Other comprehensive loss (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized (loss) gain on qualifying cash flow hedging instruments	$ (436)	$ 17
Pension adjustments, net of tax recoveries	(19,050)	(18,919)
Unrealized loss on marketable securities	(379)	(171)
Foreign exchange gain on currency translation	1,841	1,884
Accumulated other comprehensive loss	$ (18,024)	$ (17,189)

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Financial Instruments - Changes in Fair Value Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) (Recurring [Member], Level 3 [Member], Warrant [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Recurring [Member] | Level 3 [Member] | Warrant [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at the beginning of the period	$ 11,714
Fair value on issuance		6,840
Unrealized (loss) gain included in earnings	(3,663)	1,211
Fair value at the end of the period	$ 8,051	$ 8,051

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Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net (Loss) Income Per Share

17. Net (Loss) Income Per Share

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
	$			$		$			$
Net (loss) income attributable to stockholders of Teekay Corporation		(42,987	)		11,367		(43,475	)		5,231
Weighted average number of common shares		72,036,526			70,393,531		71,687,549			70,142,301
Dilutive effect of stock-based compensation		—			921,098		—			1,000,062
Common stock and common stock equivalents		72,036,526			71,314,629		71,687,549			71,142,363
(Loss) income per common share:
- Basic		(0.60	)		0.16		(0.61	)		0.07
- Diluted		(0.60	)		0.16		(0.61	)		0.07

Stock-based awards, which have an anti-dilutive effect on the calculation of diluted (loss) income per common share, are excluded from this calculation. For the three and six months ended June 30, 2013, options to acquire 3.1 million shares of Common Stock had an anti-dilutive effect on the calculation of diluted income per common share.

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Vessel Charters - Schedules of Estimated Minimum Hire Payments (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014
Charters-out [Member]
Capital Leases and Operating and Direct Finance Leases [Line Items]
Operating leases, Remainder of 2014	$ 624.0
Operating leases, 2015	1,438.8
Operating leases, 2016	1,231.4
Operating leases, 2017	1,225.1
Operating leases, 2018	997.2
Direct financing leases, Remainder of 2014	45.0
Direct financing leases, 2015	95.5
Direct financing leases, 2016	95.8
Direct financing leases, 2017	219.8
Direct financing leases, 2018	185.6
Future minimum payments, Remainder of 2014	669.0
Future minimum payments, 2015	1,534.3
Future minimum payments, 2016	1,327.2
Future minimum payments, 2017	1,444.9
Future minimum payments, 2018	1,182.8
Charters-in [Member]
Capital Leases and Operating and Direct Finance Leases [Line Items]
Operating leases, Remainder of 2014	34.5
Operating leases, 2015	31.9
Operating leases, 2016	9.1
Operating leases, 2017	9.1
Operating leases, 2018	0.4
Capital leases, Remainder of 2014	42.4
Capital leases, 2015	31.8
Capital leases, 2016	31.7
Capital leases, 2017	55.0
Capital leases, 2018	51.3
Future minimum payments, Remainder of 2014	76.9
Future minimum payments, 2015	63.7
Future minimum payments, 2016	40.8
Future minimum payments, 2017	64.1
Future minimum payments, 2018	$ 51.7

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Segment Reporting - Segment Results Information (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]
REVENUES	$ 452,254	$ 430,707	$ 958,748	$ 881,744
Voyage expenses	33,439	26,154	68,451	52,469
Vessel operating expenses	201,714	195,978	402,900	383,442
Time-charter hire expense	9,714	26,544	26,006	53,996
Depreciation and amortization	103,373	109,769	206,831	212,263
General and administrative	36,945	35,395	74,823	74,666
Loan loss provisions (recoveries)	(2,521)	7,042	(2,521)	10,207
(Gain) loss on sale of vessels and equipment	(9,615)	(1,341)	(9,453)	(1,309)
Restructuring charges	(244)	1,789	395	3,843
Income from vessel operations	79,449	29,377	191,316	92,167
Shuttle Tanker and FSO Segment [Member]
Segment Reporting Information [Line Items]
REVENUES	142,816	140,062	304,028	278,715
Voyage expenses	24,890	22,275	56,619	44,084
Vessel operating expenses	46,989	43,472	93,007	88,379
Time-charter hire expense	4,975	14,110	16,387	28,887
Depreciation and amortization	27,039	29,093	54,376	56,789
General and administrative	8,005	9,324	17,382	19,828
Restructuring charges	(820)	1,043	(268)	1,630
Income from vessel operations	31,738	20,745	66,525	39,118
FPSO Segment [Member]
Segment Reporting Information [Line Items]
REVENUES	131,155	122,560	273,674	263,489
Voyage expenses	172		172
Vessel operating expenses	92,436	84,054	185,940	161,438
Depreciation and amortization	38,056	39,285	75,868	73,317
General and administrative	15,524	11,760	30,865	24,121
Loan loss provisions (recoveries)	(2,521)		(2,521)
(Gain) loss on sale of vessels and equipment		(1,338)		(1,338)
Income from vessel operations	(12,512)	(11,201)	(16,650)	5,951
Liquefied Gas Segment [Member]
Segment Reporting Information [Line Items]
REVENUES	81,970	70,983	163,393	141,984
Voyage expenses	739	487	1,572	491
Vessel operating expenses	17,139	15,164	33,650	30,260
Depreciation and amortization	17,888	18,328	36,001	35,619
General and administrative	6,294	5,314	13,494	11,510
Income from vessel operations	39,910	31,690	78,676	64,104
Conventional Tanker [Member]
Segment Reporting Information [Line Items]
REVENUES	96,313	97,102	217,653	197,556
Voyage expenses	7,638	3,392	10,088	7,894
Vessel operating expenses	45,150	53,288	90,303	103,365
Time-charter hire expense	4,739	12,434	9,619	25,109
Depreciation and amortization	20,390	23,063	40,586	46,538
General and administrative	7,122	8,997	13,082	19,207
Loan loss provisions (recoveries)		7,042		10,207
(Gain) loss on sale of vessels and equipment	(9,615)	(3)	(9,453)	29
Restructuring charges	576	746	663	2,213
Income from vessel operations	$ 20,313	$ (11,857)	$ 62,765	$ (17,006)

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Restructuring Charges - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Restructuring and Related Activities [Abstract]
Restructuring (reversal) charges	$ (244,000)	$ 1,789,000	$ 395,000	$ 3,843,000
Restructuring liability	$ 1,600,000		$ 1,600,000		$ 4,900,000

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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Commitment of Foreign Currency Forward Contracts

As at June 30, 2014, the Company was committed to the following foreign currency forward contracts:

					Fair Value /
					Carrying
					Amount
					Of Asset			Expected Maturity
	Contract Amount in		Average		(Liability)			2014		2015
	Foreign Currency		Forward Rate (1)		$			$		$
Norwegian Kroner		667,700		6.15		(400	)		54,930		53,599
Singapore Dollar		6,000		1.26		46			4,767		—
						(354	)		59,697		53,599

(1) Average contractual exchange rate represents the contracted amount of foreign currency one U.S. Dollar will buy.

Commitment of Cross Currency Swaps

As at June 30, 2014, the Company was committed to the following cross currency swaps:

					Fair Value /
					Carrying
Notional	Notional	Floating Rate Receivable			Amount of
Amount	Amount	Reference		Fixed Rate	Asset /	Remaining
NOK	USD	Rate	Margin	Payable	(Liability)	Term (years)
700,000	122,800	NIBOR	4.75%	5.52%	(9,537)	1.3
500,000	89,700	NIBOR	4.00%	4.80%	(8,943)	1.6
600,000	101,400	NIBOR	5.75%	7.49%	(6,337)	2.6
700,000	125,000	NIBOR	5.25%	6.88%	(14,513)	2.8
800,000	143,500	NIBOR	4.75%	5.93%	(14,285)	3.6
900,000	150,000	NIBOR	4.35%	6.43%	(7,505)	4.2
1,000,000	162,200	NIBOR	4.25%	6.28%	(2,621)	4.6
					(63,741)

Interest Rate Swap Agreements

As at June 30, 2014, the Company was committed to the following interest rate swap agreements related to its LIBOR-based debt, restricted cash deposits and EURIBOR-based debt, whereby certain of the Company’s floating-rate debt and restricted cash deposits were swapped with fixed-rate obligations or fixed-rate deposits:

					Fair Value /
					Carrying			Weighted-
					Amount of			Average		Fixed
	Interest		Principal		Asset /			Remaining		Interest
	Rate		Amount		(Liability)			Term		Rate
	Index		$		$			(years)		(%) (1)
LIBOR-Based Debt:
U.S. Dollar-denominated interest rate swaps (2)		LIBOR		400,757		(91,531	)		22.6		4.9
U.S. Dollar-denominated interest rate swaps (3)		LIBOR		3,653,623		(362,136	)		6.1		3.6
U.S. Dollar-denominated interest rate swaps (4)		LIBOR		500,000		(7,416	)		1.2		3.1
LIBOR-Based Restricted Cash Deposit:
U.S. Dollar-denominated interest rate swaps (2)		LIBOR		469,066		121,309			22.6		4.8
EURIBOR-Based Debt:
Euro-denominated interest rate swaps (5) (6)		EURIBOR		330,845		(44,034	)		6.5		3.1
						(383,808	)

(1) Excludes the margins the Company pays on its variable-rate debt, which, as of June 30, 2014, ranged from 0.3% to 4.5%.

(2) Principal amount reduces quarterly.

(3) Principal amount of $200 million is fixed at 2.14%, unless LIBOR exceeds 6%, in which case the Company pays a floating rate of interest.

(4) Interest rate swap with an aggregate principal amount of $180 million is being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2028. The interest rate swap is subject to mandatory early termination in 2014 whereby the swap will be settled based on its fair value at that time. Interest rate swaps with an aggregate principal amount of $320 million are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2021. These interest rate swaps are subject to mandatory early termination in 2016 whereby the swaps will be settled based on their fair value at that time.

(5) Principal amount reduces monthly to 70.1 million Euros ($96.0 million) by the maturity dates of the swap agreements.

(6) Principal amount is the U.S. Dollar equivalent of 241.7 million Euros.

Location and Fair Value Amounts of Derivative Instruments

The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s consolidated balance sheets.

	Current							Current
	Portion of							Portion of
	Derivative		Derivative		Accrued			Derivative			Derivative
	Assets		Assets		Liabilities			Liabilities			Liabilities
As at June 30, 2014
Derivatives not designated as a cash flow hedge:
Foreign currency contracts		696		11		—			(741	)		(320	)
Interest rate swap agreements		17,200		105,488		(22,281	)		(173,920	)		(310,295	)
Cross currency swap agreements		537		—		(39	)		(2,808	)		(61,431	)
Stock purchase warrants		—		8,051		—			—			—
		18,433		113,550		(22,320	)		(177,469	)		(372,046	)
As at December 31, 2013
Derivatives not designated as a cash flow hedge:
Foreign currency contracts		482		12		—			(1,819	)		(155	)
Interest rate swap agreements		21,779		69,785		(22,025	)		(140,503	)		(248,091	)
Cross currency swap agreements		779		—		3			(1,677	)		(51,324	)
		23,040		69,797		(22,022	)		(143,999	)		(299,570	)

Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments

The effect of the gains and losses on derivatives not designated as hedging instruments in the consolidated statements of income are as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
	$			$			$			$
Realized (losses) gains relating to:
Interest rate swap agreements		(30,755	)		(30,899	)		(60,245	)		(61,251	)
Interest rate swap agreement terminations		—			(4,187	)		1,000			(4,187	)
Foreign currency forward contracts		110			(1,873	)		(1,175	)		(1,452	)
		(30,645	)		(36,959	)		(60,420	)		(66,890	)
Unrealized (losses) gains relating to:
Interest rate swap agreements		(39,096	)		96,911			(64,494	)		116,115
Foreign currency forward contracts		(1,926	)		(3,917	)		1,125			(6,979	)
Stock purchase warrants		(3,664	)		—			1,210			—
		(44,686	)		92,994			(62,159	)		109,136
Total realized and unrealized (losses) gains on derivative instruments		(75,331	)		56,035			(122,579	)		42,246

Effect of Loss on Cross Currency Swaps

The effect of the loss on cross currency swaps on the consolidated statements of (loss) income is as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
	$			$			$			$
Realized gain on partial termination of cross currency swap		—			—			—			6,800
Realized (losses) gains		(144	)		503			(289	)		1,565
Unrealized losses		(24,803	)		(16,399	)		(11,481	)		(54,353	)
Total realized and unrealized losses on cross currency swaps		(24,947	)		(15,896	)		(11,770	)		(45,988	)

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Equity Financing Transactions - Summary of Proceeds Received from Financial Transactions (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Subsidiary, Sale of Stock [Line Items]
Net Proceeds Received	$ 7,475	$ 212,401
Teekay Offshore [Member] | Continuous Offering Program [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	7,784
Less: Teekay Corporation Portion	(156)
Offering Expenses	(153)
Net Proceeds Received	$ 7,475

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Commitments and Contingencies - Additional Information - Teekay Nakilat (Detail) (Teekay LNG [Member], Teekay Nakilat Corporation [Member], USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014 Vessel
Loss Contingencies [Line Items]
Capital lease arrangement period, lessee	Teekay Nakilat Corporation (or Teekay Nakilat), a subsidiary of Teekay LNG, is the lessee under 30-year capital lease arrangements with a third party for the three LNG carriers (or the RasGas II Leases). The UK taxing authority (or HMRC) has been urging the lessor as well as other lessors under capital lease arrangements that have tax benefits similar to the ones provided by the RasGas II Leases, to terminate such finance lease arrangements, and has in other circumstances challenged the use of similar structures.
Number of vessels	3
Foreign Tax Authority [Member]
Loss Contingencies [Line Items]
Share of potential exposure	70.00%
Estimated shares of lease rental increase claim	$ 34

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Long-Term Debt - Additional Information - Term Loans (Detail) In Thousands, unless otherwise specified			6 Months Ended		12 Months Ended
	Jun. 30, 2014 USD ($)	Dec. 31, 2013 USD ($)	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] USD ($) Term_loan	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] EUR (€) Term_loan	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] EUR (€)
Debt Instrument [Line Items]
Number of debt instruments			2	2
Reference rate on variable rate of the debt instrument			EURIBOR	EURIBOR
Long-term Debt	$ 6,732,367	$ 6,109,470	$ 330,845	€ 241,700	$ 340,221	€ 247,600
Debt instrument variable interest rate			0.60%	0.60%	2.25%	2.25%
Debt instrument interest			0.10%	0.10%	0.20%	0.20%
Debt instrument collateral, description			Collateralized by first-priority mortgages on two of the Company's vessels, together with certain other security, and are guaranteed by a subsidiary of Teekay.	Collateralized by first-priority mortgages on two of the Company's vessels, together with certain other security, and are guaranteed by a subsidiary of Teekay.

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Investments - Additional Information - Teekay LNG - Exmar LPG BVBA Joint Venture (Detail) (USD $)	6 Months Ended		1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Feb. 28, 2013 Teekay LNG [Member] Exmar LPG Joint Venture [Member]	Jun. 30, 2014 Teekay LNG [Member] Exmar LPG Joint Venture [Member] Vessel	Feb. 28, 2013 Teekay LNG [Member] Exmar LPG Joint Venture [Member] Pro Rata Share [Member] Secured debt [Member]	Jun. 30, 2014 Teekay LNG [Member] Exmar LPG Joint Venture [Member] Newbuildings [Member] Vessel	Jun. 30, 2014 Teekay LNG [Member] Exmar LPG Joint Venture [Member] Charters-in [Member] Vessel
Net Investment Income [Line Items]
Number of vessels				21		10	4
Percentage of ownership				50.00%
Pro rata share of existing debt and lease obligations					$ 108,000,000
Excess of book value over the investment			6,000,000
Investments in joint venture	$ 50,648,000	$ 136,413,000	$ 133,100,000

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Basis of Presentation

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Basis of Presentation

1. Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (or GAAP). They include the accounts of Teekay Corporation (or Teekay), which is incorporated under the laws of the Republic of the Marshall Islands, and its wholly-owned or controlled subsidiaries (collectively, the Company). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2013, included in the Company’s Annual Report on Form 20-F. In the opinion of management, these unaudited financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in total equity for the interim periods presented. The results of operations for the three and six months ended June 30, 2014, are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Given current credit market conditions, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement.

In the current period the Company has presented the conversion costs incurred at period end for the Company’s committed vessel conversions in Advances on newbuilding contracts and conversion costs on the consolidated balance sheet. Prior to June 30, 2014, the Company included these amounts in Vessels and equipment – At cost, less accumulated depreciation. All such costs incurred in comparative periods have been reclassified from Vessels and equipment – At cost, less accumulated depreciation to Advances on newbuilding contracts and conversion costs to conform to the presentation adopted in the current period. The amount reclassified as at December 31, 2013 was $29.8 million.

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Long-Term Debt - Additional Information - Other (Detail)	6 Months Ended			6 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2014 USD ($) SecurityLoan	Jun. 30, 2013 USD ($)	Dec. 31, 2013 USD ($)	Jun. 30, 2014 Minimum [Member]	Jun. 30, 2014 Maximum [Member]	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2013 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2013 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Jun. 30, 2014 Euro-denominated Term Loans due through 2023 [Member] EUR (€)	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] USD ($)	Dec. 31, 2013 Euro-denominated Term Loans due through 2023 [Member] EUR (€)	Jun. 30, 2014 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] USD ($)	Dec. 31, 2013 U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners [Member] USD ($)
Debt Instrument [Line Items]
Unrealized foreign exchange gain (loss)	$ 7,244,000	$ 54,506,000				$ 2,000,000	$ 700,000	$ 2,900,000	$ 2,900,000
Long-term Debt	6,732,367,000		6,109,470,000			330,845,000		330,845,000		241,700,000	340,221,000	247,600,000	13,300,000	13,300,000
Fixed interest rate on the portion of U. S. Dollar-denominated term loans outstanding													4.84%
Interest at a weighted-average fixed rate	3.00%		3.00%
Vessel market value to loan ratio				141.00%	481.50%
Vessel market value to loan minimum required ratio				105.00%	120.00%
Number of loan agreement	5
Minimum level of free cash be maintained as per loan agreements	100,000,000		100,000,000
Free liquidity and undrawn revolving credit line as percentage of debt				5.00%	7.50%
Amount of free liquidity and undrawn revolving credit line	377,100,000		344,900,000
Revolving credit lines maturity period				6 months
Amount reduced under revolving credit facility in remainder of the year	664,200,000
Amount reduced under revolving credit facility in second year	582,200,000
Amount reduced under revolving credit facility in third year	796,000,000
Amount reduced under revolving credit facility in fourth year	1,100,000,000
Amount reduced under revolving credit facility in fifth year	1,300,000,000
Amount reduced under revolving credit facility thereafter	$ 2,300,000,000

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Segment Reporting - Reconciliation of Total Segment Assets (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Consolidated total assets	$ 12,055,711	$ 11,555,701
Shuttle Tanker and FSO Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	1,940,146	1,947,905
FPSO Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	3,340,920	2,836,998
Liquefied Gas Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	3,699,293	3,616,044
Conventional Tanker [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	1,576,691	1,874,101
Cash [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	748,900	614,660
Accounts Receivable [Member] | Other Assets [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	$ 749,761	$ 665,993

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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Results Information

The following tables include results for the Company’s four segments for the three and six months ended June 30, 2014 and 2013:

	Shuttle						Liquefied		Conventional
Three Months ended June 30, 2014	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		142,816			131,155			81,970		96,313			452,254
Voyage expenses		24,890			172			739		7,638			33,439
Vessel operating expenses		46,989			92,436			17,139		45,150			201,714
Time-charter hire expense		4,975			—			—		4,739			9,714
Depreciation and amortization		27,039			38,056			17,888		20,390			103,373
General and administrative(1)		8,005			15,524			6,294		7,122			36,945
Loan loss recoveries		—			(2,521	)		—		—			(2,521	)
Gain on sale of vessels and equipment		—			—			—		(9,615	)		(9,615	)
Restructuring charges		(820	)		—			—		576			(244	)
Income (loss) from vessel operations		31,738			(12,512	)		39,910		20,313			79,449
	Shuttle						Liquefied		Conventional
Three Months ended June 30, 2013	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		140,062			122,560			70,983		97,102			430,707
Voyage expenses		22,275			—			487		3,392			26,154
Vessel operating expenses		43,472			84,054			15,164		53,288			195,978
Time-charter hire expense		14,110			—			—		12,434			26,544
Depreciation and amortization		29,093			39,285			18,328		23,063			109,769
General and administrative(1)		9,324			11,760			5,314		8,997			35,395
Loan loss provisions		—			—			—		7,042			7,042
Gain on sale of vessels and equipment		—			(1,338	)		—		(3	)		(1,341	)
Restructuring charges		1,043			—			—		746			1,789
Income (loss) from vessel operations		20,745			(11,201	)		31,690		(11,857	)		29,377
	Shuttle						Liquefied		Conventional
Six Months ended June 30, 2014	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		304,028			273,674			163,393		217,653			958,748
Voyage expenses		56,619			172			1,572		10,088			68,451
Vessel operating expenses		93,007			185,940			33,650		90,303			402,900
Time-charter hire expense		16,387			—			—		9,619			26,006
Depreciation and amortization		54,376			75,868			36,001		40,586			206,831
General and administrative(1)		17,382			30,865			13,494		13,082			74,823
Loan loss recoveries		—			(2,521	)		—		—			(2,521	)
Gain on sale of vessels and equipment		—			—			—		(9,453	)		(9,453	)
Restructuring charges		(268	)		—			—		663			395
Income (loss) from vessel operations		66,525			(16,650	)		78,676		62,765			191,316
	Shuttle						Liquefied		Conventional
Six Months ended June 30, 2013	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		278,715			263,489			141,984		197,556			881,744
Voyage expenses		44,084			—			491		7,894			52,469
Vessel operating expenses		88,379			161,438			30,260		103,365			383,442
Time-charter hire expense		28,887			—			—		25,109			53,996
Depreciation and amortization		56,789			73,317			35,619		46,538			212,263
General and administrative(1)		19,828			24,121			11,510		19,207			74,666
Loan loss provisions		—			—			—		10,207			10,207
(Gain) loss on sale of vessels and equipment		—			(1,338	)		—		29			(1,309	)
Restructuring charges		1,630			—			—		2,213			3,843
Income (loss) from vessel operations		39,118			5,951			64,104		(17,006	)		92,167

(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 total assets presented in the accompanying consolidated balance sheets is as follows:

	June 30, 2014		December 31, 2013
	$		$
Shuttle tanker and FSO segment		1,940,146		1,947,905
FPSO segment		3,340,920		2,836,998
Liquefied gas segment		3,699,293		3,616,044
Conventional tanker segment		1,576,691		1,874,101
Cash		748,900		614,660
Accounts receivable and other assets		749,761		665,993
Consolidated total assets		12,055,711		11,555,701

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Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (or GAAP). They include the accounts of Teekay Corporation (or Teekay), which is incorporated under the laws of the Republic of the Marshall Islands, and its wholly-owned or controlled subsidiaries (collectively, the Company). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2013, included in the Company’s Annual Report on Form 20-F. In the opinion of management, these unaudited financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in total equity for the interim periods presented. The results of operations for the three and six months ended June 30, 2014, are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Given current credit market conditions, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement.

In the current period the Company has presented the conversion costs incurred at period end for the Company’s committed vessel conversions in Advances on newbuilding contracts and conversion costs on the consolidated balance sheet. Prior to June 30, 2014, the Company included these amounts in Vessels and equipment – At cost, less accumulated depreciation. All such costs incurred in comparative periods have been reclassified from Vessels and equipment – At cost, less accumulated depreciation to Advances on newbuilding contracts and conversion costs to conform to the presentation adopted in the current period. The amount reclassified as at December 31, 2013 was $29.8 million.

Accounting Pronouncements Not Yet Adopted

Accounting Pronouncements Not Yet Adopted

In May 2014, the Financial Accounting Standards Board (or FASB) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, (or ASU 2014-09). ASU 2014-09 will require companies to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires companies to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation is satisfied. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2016 and shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. Early adoption is not permitted. The Company is evaluating the effect of adopting this new accounting guidance.

In April 2014, the FASB issued Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (or ASU 2014-08) which raises the threshold for disposals to qualify as discontinued operations. A discontinued operation is defined as: (i) a component of an entity or group of components that has been disposed of or classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results; or (ii) an acquired business that is classified as held for sale on the acquisition date. ASU 2014-08 also requires additional disclosures regarding discontinued operations, as well as material disposals that do not meet the definition of discontinued operations. ASU 2014-08 is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance. The impact, if any, of adopting ASU 2014-08 on the Company’s financial statements will depend on the occurrence and nature of disposals that occur after ASU 2014-08 is adopted.

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Long-Term Debt - Additional Information - Revolvers (Detail) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Amount reduced under revolving credit facility in 2014	$ 664,200,000
Amount reduced under revolving credit facility in 2015	582,200,000
Amount reduced under revolving credit facility in 2016	796,000,000
Amount reduced under revolving credit facility in 2017	1,100,000,000
Amount reduced under revolving credit facility in 2018	1,300,000,000
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument interest	0.00%	0.00%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument interest	8.00%	8.00%
Revolving Credit Facilities [Member]
Debt Instrument [Line Items]
Aggregate borrowings	2,500,000,000
Undrawn amount of revolving credit facility	900,000,000
Reference rate on variable rate of the debt instrument	LIBOR
Number of debt instruments	15
Debt instrument interest	0.23%	0.25%
Amount reduced under revolving credit facility in 2014	612,600,000
Amount reduced under revolving credit facility in 2015	316,200,000
Amount reduced under revolving credit facility in 2016	740,200,000
Amount reduced under revolving credit facility in 2017	463,700,000
Amount reduced under revolving credit facility in 2018	355,700,000
Debt instrument collateral, description	The Revolvers are collateralized by first-priority mortgages granted on 55 of the Company's vessels, together with other related security, and include a guarantee from Teekay or its subsidiaries for all outstanding amounts.
Revolving Credit Facilities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of margin	0.45%	0.45%
Revolving Credit Facilities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Percentage of margin	4.50%	4.50%
Revolving Credit Facilities [Member] | Teekay Offshore [Member]
Debt Instrument [Line Items]
Revolving credit facilities refinanced amount	330,000,000
Amount reduced under revolving credit facilities	$ 16,500,000
Revolving credit facilities payment frequency, description	per quarter
Debt instrument maturity period	5 years

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Investments - Additional Information - Teekay Offshore Acquisition of ALP Maritime Services B.V. (Detail) (Detail) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended	6 Months Ended	0 Months Ended	1 Months Ended		3 Months Ended		6 Months Ended				1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014 ALP Maritime Services B.V [Member]	Jun. 30, 2014 Teekay Offshore [Member]	Mar. 31, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Mar. 31, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Mar. 14, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Jun. 30, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Mar. 31, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Jun. 30, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Mar. 31, 2014 Teekay Offshore [Member] Majority Shareholder [Member] ALP Maritime Services B.V [Member] Stockholders	Mar. 31, 2014 Teekay Offshore [Member] Delivered [Member] Majority Shareholder [Member] ALP Maritime Services B.V [Member]	Mar. 31, 2014 Teekay Offshore [Member] Contingent Consideration On Operating Results [Member] Majority Shareholder [Member] ALP Maritime Services B.V [Member]	Mar. 31, 2014 Teekay Offshore [Member] Newbuildings [Member] ALP Maritime Services B.V [Member] Towage Segment [Member] Vessel
Net Investment Income [Line Items]
Percentage of ownership acquired									100.00%	100.00%		100.00%
Expected cost of project			$ 1,500,000,000				$ 258,000,000
Purchase price paid in cash						253,000,000		2,616,000	2,616,000
Number of shareholders													3
Number of vessels																4
Contingent consideration payable														2,400,000	2,600,000
Business Combination, Contingent Consideration Arrangements, Description												Teekay Offshore has the option to pay up to 50% of this compensation through the issuance of common units of Teekay Offshore. Each of the contingent compensation amounts is payable only if the three shareholders are employed by ALP at the time performance conditions are met.
General and administrative	36,945,000	35,395,000	74,823,000	74,666,000						200,000		200,000
Acquisition and success fee											1,000,000
Revenue	452,254,000	430,707,000	958,748,000	881,744,000	200,000
Net loss	$ (15,447,000)	$ 87,534,000	$ 33,675,000	$ 127,289,000	$ (1,700,000)

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Investments (Tables)

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary estimates of fair values of the ALP assets acquired and liabilities assumed by Teekay Offshore on the acquisition date.

	As at
(in thousands of U.S. dollars)	March 14, 2014
	$
ASSETS
Cash and cash equivalents		294
Other current assets		404
Advances on newbuilding contracts		164
Other assets - long-term		395
Goodwill		2,032
Total assets acquired		3,289
LIABILITIES
Current liabilities		387
Other long-term liabilities		286
Total liabilities assumed		673
Net assets acquired		2,616
Consideration		2,616

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Vessel Charters (Tables)

6 Months Ended

Jun. 30, 2014

Text Block [Abstract]

Schedule of Estimated Minimum Hire Payments

the additional minimum estimated charter hire payments for the remainder of the year and the next four fiscal years, as at June 30, 2014, for the Company’s chartered-in and chartered-out vessels were as follows:

	Remainder
	of 2014		2015		2016		2017		2018
	(in millions of U.S. dollars)
Charters-in - operating leases		34.5		31.9		9.1		9.1		0.4
Charters-in - capital leases (1)		42.4		31.8		31.7		55.0		51.3
		76.9		63.7		40.8		64.1		51.7
Charters-out - operating leases (2)		624.0		1,438.8		1,231.4		1,225.1		997.2
Charters-out - direct financing leases		45.0		95.5		95.8		219.8		185.6
		669.0		1,534.3		1,327.2		1,444.9		1,182.8

(1) As at June 30, 2014 and December 31, 2013, the Company had $475.8 million and $475.6 million of restricted cash which, including any interest earned on such amounts, is restricted to being used for charter hire payments of certain vessels chartered-in under capital leases. The Company also maintains restricted cash deposits relating to certain term loans and other obligations, which cash totaled $27.3 million and $27.1 million as at June 30, 2014 and December 31, 2013, respectively.

(2) The minimum scheduled future operating lease revenues should not be construed to reflect total charter hire revenues for any of the years. Minimum scheduled future revenues do not include revenue generated from new contracts entered into after June 30, 2014, revenue from unexercised option periods of contracts that existed on June 30, 2014 or variable or contingent revenues. In addition, minimum scheduled future operating lease revenues presented in the table have been reduced by estimated off-hire time for any period maintenance. The amounts may vary given unscheduled future events such as vessel maintenance.

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Unaudited Consolidated Statement of Changes in Total Equity (USD $) In Thousands, except Share data	Total USD ($)	Redeemable Non-controlling Interest [Member] USD ($)	Common Stock [Member]	TOTAL EQUITY Common Stock and Additional Paid-in Capital [Member] USD ($)	TOTAL EQUITY Retained Earnings [Member] USD ($)	TOTAL EQUITY Accumulated Other Comprehensive Loss [Member] USD ($)	TOTAL EQUITY Non-controlling Interests [Member] USD ($)
Beginning Balance at Dec. 31, 2013	$ 3,203,050	$ 16,564		$ 713,760	$ 435,217	$ (17,189)	$ 2,071,262
Beginning Balance, Shares at Dec. 31, 2013	70,729,399		70,729,000
Net (loss) income	33,675				(43,475)		77,150
Reclassification of redeemable non-controlling interest in net income	(2,085)	2,085					(2,085)
Other comprehensive loss	(1,665)					(835)	(830)
Dividends declared	(213,402)	(3,500)			(46,970)		(166,432)
Reinvested dividends	4			4
Reinvested dividends, Shares			1,000
Exercise of stock options and other (note 9)	44,372			44,372
Exercise of stock options and other (note 9), Shares			1,509,000
Employee stock compensation (note 9)	(2,069)			(2,069)
Dilution gain on public offering of Teekay Offshore (note 6)	1,613				1,613
Additions to non-controlling interest from equity contributions and other	30,520						30,520
Ending Balance at Jun. 30, 2014	$ 3,094,013	$ 15,149		$ 756,067	$ 346,385	$ (18,024)	$ 2,009,585
Ending Balance, Shares at Jun. 30, 2014	72,239,252		72,239,000

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Equity Financing Transactions (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Summary of Proceeds Received from Financial Transactions

During the six months ended June 30, 2014, one of the Company’s publicly-listed subsidiaries, Teekay Offshore, completed the following equity issuances under a continuous offering program:

	Total Proceeds Received $		Less: Teekay Corporation Portion $			Offering Expenses $			Net Proceeds Received $
Six Months ended June 30, 2014
Teekay Offshore Continuous Offering Program		7,784		(156	)		(153	)		7,475

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Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Assets	$ 18,433	$ 23,040
Derivative Assets	113,550	69,797
Accrued Liabilities	(22,320)	(22,022)
Current Portion of Derivative Liabilities	(177,469)	(143,999)
Derivative Liabilities	(372,046)	(299,570)
Derivatives not designated as a cash flow hedge [Member] | Warrant [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	8,051
Derivatives not designated as a cash flow hedge [Member] | Foreign currency contracts [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Assets	696	482
Derivative Assets	11	12
Current Portion of Derivative Liabilities	(741)	(1,819)
Derivative Liabilities	(320)	(155)
Derivatives not designated as a cash flow hedge [Member] | Interest rate swap agreements [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Assets	17,200	21,779
Derivative Assets	105,488	69,785
Accrued Liabilities	(22,281)	(22,025)
Current Portion of Derivative Liabilities	(173,920)	(140,503)
Derivative Liabilities	(310,295)	(248,091)
Derivatives not designated as a cash flow hedge [Member] | Cross currency swap agreements [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Assets	537	779
Accrued Liabilities	(39)	3
Current Portion of Derivative Liabilities	(2,808)	(1,677)
Derivative Liabilities	$ (61,431)	$ (51,324)

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Basis of Presentation - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Advances on newbuilding contracts and conversion costs	$ 1,403,850	$ 796,324
Reclassification to advances on newbuilding contracts and conversion costs [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Advances on newbuilding contracts and conversion costs		$ 29,800

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Equity Financing Transactions - Additional Information (Detail) (Teekay Offshore [Member], USD $) Share data in Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
Teekay Offshore [Member]
Subsidiary or Equity Method Investee [Line Items]
Total purchase price	$ 540,000,000
Business acquisition, debt assumed	230,000,000
Business acquisition, cash paid	253,000,000
Business acquisition, value of common units	44,300,000
Business acquisition, fair value of common units	$ 40,000,000
Common units outstanding	83.6
Minority interest ownership percentage	29.20%
Interest of Company's general partner	2.00%

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Financial Instruments - Additional Information (Detail) (Tanker Investments Limited [Member], Warrant [Member], USD $) In Millions, except Per Share data, unless otherwise specified	6 Months Ended		1 Months Ended
	Jun. 30, 2014	Jan. 31, 2014	Jan. 31, 2014 Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of shares available through exercise of stock purchase warrant			1.5
Purchase price of common stock		$ 10
Expected volatility used in computing fair value of stock purchase warrants	54.10%

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Unaudited Consolidated Statements of (Loss) Income (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
REVENUES	$ 452,254	$ 430,707	$ 958,748	$ 881,744
OPERATING EXPENSES
Voyage expenses	33,439	26,154	68,451	52,469
Vessel operating expenses	201,714	195,978	402,900	383,442
Time-charter hire expense	9,714	26,544	26,006	53,996
Depreciation and amortization	103,373	109,769	206,831	212,263
General and administrative	36,945	35,395	74,823	74,666
Loan loss (recoveries) provisions (note 7b)	(2,521)	7,042	(2,521)	10,207
(Gain) loss on sale of vessels and equipment	(9,615)	(1,341)	(9,453)	(1,309)
Restructuring charges (note 12)	(244)	1,789	395	3,843
Total operating expenses	372,805	401,330	767,432	789,577
Income from vessel operations	79,449	29,377	191,316	92,167
OTHER ITEMS
Interest expense	(49,656)	(44,687)	(98,989)	(87,197)
Interest income	793	2,018	2,576	3,036
Realized and unrealized (loss) gain on non-designated derivative instruments (note 15)	(75,331)	56,035	(122,579)	42,246
Equity income	35,271	47,372	62,765	74,687
Foreign exchange (loss) gain (notes 8 and 15)	(2,046)	678	(2,940)	2,867
Other (loss) income (note 13)	(734)	(1,386)	7,517	3,856
Net (loss) income before income taxes	(12,254)	89,407	39,666	131,662
Income tax expense (note 16)	(3,193)	(1,873)	(5,991)	(4,373)
Net (loss) income	(15,447)	87,534	33,675	127,289
Less: Net income attributable to non-controlling interests	(27,540)	(76,167)	(77,150)	(122,058)
Net (loss) income attributable to stockholders of Teekay Corporation	$ (42,987)	$ 11,367	$ (43,475)	$ 5,231
Per common share of Teekay Corporation (note 17)
• Basic (loss) income attributable to stockholders of Teekay Corporation	$ (0.60)	$ 0.16	$ (0.61)	$ 0.07
• Diluted (loss) income attributable to stockholders of Teekay Corporation	$ (0.60)	$ 0.16	$ (0.61)	$ 0.07
• Cash dividends declared	$ 0.3163	$ 0.3163	$ 0.6325	$ 0.6325
Weighted average number of common shares outstanding(note 17)
• Basic	72,036,526	70,393,531	71,687,549	70,142,301
• Diluted	72,036,526	71,314,629	71,687,549	71,142,363

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Investments - Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $) In Thousands, unless otherwise specified			6 Months Ended	1 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Teekay Offshore [Member]	Mar. 31, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]	Mar. 14, 2014 Teekay Offshore [Member] ALP Maritime Services B.V [Member]
ASSETS
Cash and cash equivalents					$ 294
Other current assets					404
Advances on newbuilding contracts					164
Other assets - long-term					395
Goodwill	168,572	166,539			2,032
Total assets acquired					3,289
LIABILITIES
Current liabilities					387
Other long-term liabilities	129,833	139,676			286
Total liabilities assumed					673
Net assets acquired					2,616
Consideration			$ 253,000	$ 2,616	$ 2,616

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Unaudited Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
OPERATING ACTIVITIES
Net income	$ 33,675	$ 127,289
Non-cash items:
Depreciation and amortization	206,831	212,263
Amortization of in-process revenue contracts	(20,036)	(33,286)
Gain on sale of vessels and equipment and other assets	(9,453)	(1,309)
Loan loss (recoveries) provisions (note 7b)	(2,521)	10,207
Equity income, net of dividends received	(54,577)	(73,437)
Income tax expense	5,991	4,373
Employee stock option compensation	(3,847)	1,965
Unrealized foreign exchange gain	(7,244)	(54,506)
Unrealized loss (gain) on derivative instruments	73,640	(54,699)
Other	(3,912)	7,435
Change in operating assets and liabilities	7,199	(45,879)
Expenditures for dry docking	(24,217)	(33,592)
Net operating cash flow	201,529	66,824
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt, net of issuance costs	1,872,259	1,163,917
Scheduled repayments of long-term debt (note 8)	(613,516)	(228,982)
Prepayments of long-term debt	(669,413)	(703,816)
Repayments of capital lease obligations	(3,396)	(5,205)
(Increase) decrease in restricted cash	(385)	465
Net proceeds from equity issuances of subsidiaries (note 6)	7,475	212,401
Equity contribution by joint venture partner	22,017	1,684
Issuance of Common Stock upon exercise of stock options	44,372	16,582
Distributions paid from subsidiaries to non-controlling interests	(155,567)	(125,728)
Cash dividends paid	(45,188)	(45,282)
Net financing cash flow	458,658	286,036
INVESTING ACTIVITIES
Expenditures for vessels and equipment	(602,257)	(320,018)
Proceeds from sale of vessels and equipment and other	165,055	39,551
Repayment of term loans	4,814
Purchase of ALP (net of cash acquired of $294) (note 4a)	(2,322)
Investment in equity accounted investments	(50,648)	(136,413)
Repayments by (advances to) joint ventures and joint venture partners	6,175	(41,452)
Investment in direct financing lease assets	(54,800)
Direct financing lease payments received	8,036	6,187
Net investing cash flow	(525,947)	(452,145)
Increase (decrease) in cash and cash equivalents	134,240	(99,285)
Cash and cash equivalents, beginning of the period	614,660	639,491
Cash and cash equivalents, end of the period	$ 748,900	$ 540,206

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Subsequent Events - Additional Information - Teekay Tankers (Detail) (Subsequent Events [Member], Teekay Tankers [Member], USD $) In Millions, except Per Share data, unless otherwise specified	0 Months Ended
	Aug. 01, 2014 Pools
Subsequent Event [Line Items]
Commercially managed tanker pools	3
Purchase price consideration	$ 15
Conventional Tanker Commercial Operations and Technical Management Operations [Member]
Subsequent Event [Line Items]
Percentage of ownership acquired	50.00%
Commercial Management Fee [Member]
Subsequent Event [Line Items]
Number of vessels	89
Technical Management Fee [Member]
Subsequent Event [Line Items]
Number of vessels	51
Common Class B [Member]
Subsequent Event [Line Items]
Price per share	$ 3.70

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Long-Term Debt - Additional Information - USD Term Loans (Detail) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014 Term_loan Vessel	Dec. 31, 2013 Vessel
Debt Instrument [Line Items]
Long-term Debt	$ 6,732,367,000	$ 6,109,470,000
Interest at a weighted-average fixed rate	3.00%	3.00%
Secured debt [Member]
Debt Instrument [Line Items]
Number of debt instruments	17
Long-term Debt	3,000,000,000	2,500,000,000
Debt instrument variable interest rate	0.30%	3.25%
Debt instrument interest	0.23%	0.25%
Number of term loans which have balloon or bullet repayments	16
Number of vessels	33	35
Debt instrument collateral, description	The term loans are collateralized by first-priority mortgages on 33 (December 31, 2013 - 35) of the Company's vessels, together with certain other security.
Outstanding term loans not guaranteed by Teekay or its subsidiaries	84,100,000	94,400,000
Term loan payments	Quarterly or semi-annual payments commencing three or six months after delivery of each newbuilding vessel financed thereby
Secured debt [Member] | Certain Term Loans [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 159,000,000	$ 176,300,000
Interest at a weighted-average fixed rate	5.20%	5.20%

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Other (Loss) Income (Tables)

6 Months Ended

Jun. 30, 2014

Other Income and Expenses [Abstract]

Summary of Other (Loss) Income

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	$			$			$			$
TIL stock purchase warrants received		—			—			6,839			—
Loss on bond repurchase		—			—			—			(1,759	)
Volatile organic compound emission plant lease income		(166	)		39			(67	)		197
Impairment of marketable securities		—			(2,062	)		—			(2,062	)
Miscellaneous (loss) income		(568	)		637			745			7,480
Other (loss) income		(734	)		(1,386	)		7,517			3,856

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Commitments and Contingencies - Additional Information - Joint Ventures (Detail) (USD $) In Millions, unless otherwise specified	6 Months Ended		1 Months Ended
	Jun. 30, 2014	Jun. 30, 2014 Newbuildings [Member]	Jun. 30, 2014 Teekay LNG [Member] BG Joint Venture [Member] Newbuildings [Member] Vessel	Jun. 30, 2014 Teekay LNG [Member] BG Joint Venture [Member] Newbuildings [Member] Shipbuilding supervision and crew training services [Member] Vessel	Jun. 30, 2014 Teekay LNG [Member] BG Joint Venture [Member] Newbuildings [Member] Pro Rata Share [Member] Shipbuilding supervision and crew training services [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels			2	4
Shipbuilding and crew training obligation in 2014				$ 2.5
Shipbuilding and crew training obligation in 2015				3.7
Shipbuilding and crew training obligation in 2016				2
Shipbuilding and crew training obligation in 2017				2.4
Shipbuilding and crew training obligation in 2018				3
Shipbuilding and crew training obligation thereafter				2.8
Debt facility				787
Expected cost of project	1,500			1,000
Proportionate share of the newbuilding installments, net of the existing debt financing in 2014		131.2			3.8
Proportionate share of the newbuilding installments, net of the existing debt financing in 2015					4.9
Proportionate share of the newbuilding installments, net of the existing debt financing in 2016		271.2			7.9
Proportionate share of the newbuilding installments, net of the existing debt financing in 2017		445.8			15.0
Proportionate share of the newbuilding installments, net of the existing debt financing in 2018		399.0			17.3
Proportionate share of the newbuilding installments, net of the existing debt financing thereafter					$ 6.3

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Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Accumulated Other Comprehensive Loss

14. Accumulated Other Comprehensive Loss

As at June 30, 2014 and December 31, 2013, the Company’s accumulated other comprehensive loss consisted of the following components:

	June 30,			December 31,
	2014			2013
	$			$
Unrealized (loss) gain on qualifying cash flow hedging instruments		(436	)		17
Pension adjustments, net of tax recoveries		(19,050	)		(18,919	)
Unrealized loss on marketable securities		(379	)		(171	)
Foreign exchange gain on currency translation		1,841			1,884
		(18,024	)		(17,189	)

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Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Schedule of Accumulated Other comprehensive loss

As at June 30, 2014 and December 31, 2013, the Company’s accumulated other comprehensive loss consisted of the following components:

	June 30,			December 31,
	2014			2013
	$			$
Unrealized (loss) gain on qualifying cash flow hedging instruments		(436	)		17
Pension adjustments, net of tax recoveries		(19,050	)		(18,919	)
Unrealized loss on marketable securities		(379	)		(171	)
Foreign exchange gain on currency translation		1,841			1,884
		(18,024	)		(17,189	)

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Income Tax Expense

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Income Tax Expense

16. Income Tax Expense

The components of the provision for income tax expense are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	$			$			$			$
Current		(3,398	)		(1,943	)		(6,563	)		(4,057	)
Deferred		205			70			572			(316	)
Income tax expense		(3,193	)		(1,873	)		(5,991	)		(4,373	)

The following reflects the changes in the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from December 31, 2013 to June 30, 2014:

Balance of unrecognized tax benefits as at January 1, 2014	$	20,304
Increase for positions related to the current period		3,822
Decrease related to statute of limitations		(972	)
Balance of unrecognized tax benefits as at June 30, 2014	$	23,154

The majority of the net increase for positions for the six months ended June 30, 2014 relates to potential tax on freight income.

The Company does not presently anticipate these uncertain tax positions, which are uncertain, will significantly increase or decrease in the next 12 months; however, actual developments could differ from those currently expected.

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Commitments and Contingencies - Additional Information - Banff (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014
Loss Contingencies [Line Items]
Maximum recovery of capital lease	$ 164
Insurance Claims [Member]
Loss Contingencies [Line Items]
Recovery from deductible insurance coverage	$ 0.8

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Unaudited Consolidated Statements of Cash Flows (Parenthetical) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014
Statement of Cash Flows [Abstract]
Net of cash acquired	$ 294

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Unaudited Consolidated Statements of Comprehensive (Loss) Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (15,447)	$ 87,534	$ 33,675	$ 127,289
Other comprehensive (loss) income before reclassifications
Unrealized loss on marketable securities	(287)	(1,136)	(208)	(2,062)
Unrealized loss on qualifying cash flow hedging instruments	(1,121)	(22)	(2,064)	(554)
Pension adjustments, net of taxes	581		(132)	1,464
Foreign exchange gain (loss) on currency translation	44	(479)	(43)	653
Amounts reclassified from accumulated other comprehensive (loss) income To other income:
Impairment of marketable securities		2,062		2,062
To general and administrative expenses:
Realized loss on qualifying cash flow hedging instruments	391	88	782	84
Settlement of defined benefit pension plan		974		974
Other comprehensive (loss) income	(392)	1,487	(1,665)	2,621
Comprehensive (loss) income	(15,839)	89,021	32,010	129,910
Less: Comprehensive income attributable to non-controlling interests	(27,067)	(76,167)	(76,320)	(122,100)
Comprehensive (loss) income attributable to stockholders of Teekay Corporation	$ (42,906)	$ 12,854	$ (44,310)	$ 7,810

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Capital Stock

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Capital Stock

9. Capital Stock

The authorized capital stock of Teekay at June 30, 2014 and December 31, 2013 was 25 million shares of preferred stock, with a par value of $1 per share, and 725 million shares of common stock, with a par value of $0.001 per share. As at June 30, 2014, Teekay had no shares of preferred stock issued. During the six months ended June 30, 2014, Teekay issued 1.5 million shares of common stock upon the exercise or issuance of stock options, restricted stock units and restricted stock awards.

During 2008, Teekay announced that its Board of Directors had authorized the repurchase of up to $200 million of shares of its common stock in the open market. As at June 30, 2014, Teekay had repurchased approximately 5.2 million shares of common stock for $162.3 million pursuant to such authorizations. As at June 30, 2014, the total remaining amount under the share repurchase authorization was $37.7 million.

During the six months ended June 30, 2014, the Company granted 15,243 stock options with an exercise price of $56.76 per share, 81,388 restricted stock units with a fair value of $4.6 million, 50,689 performance shares with a fair value of $3.4 million and 18,230 shares of restricted stock awards with a fair value of $1.0 million to certain of the Company’s employees and directors. Each stock option has a ten-year term and vests equally over three years from the grant date. Each restricted stock unit, restricted stock award and performance share is equal in value to one share of the Company’s common stock plus reinvested dividends from the grant date to the vesting date. The restricted stock units and restricted stock awards vest equally over three years from the grant date and the performance shares vest two or three years from the grant date. Upon vesting, the value of the restricted stock units, restricted stock awards and performance shares are paid to each grantee in the form of shares or cash. The number of performance share units that vest will range from zero to a multiple of the original number granted, based on certain performance and market conditions.

The weighted-average grant-date fair value of stock options granted during the six months ended June 30, 2014 was $11.50 per stock option. The fair value of each stock option granted was estimated on the grant date using the Black-Scholes option pricing model. The following weighted-average assumptions were used in computing the fair value of the stock options granted: expected volatility of 34.7%; expected life of five years; dividend yield of 4.4%; risk-free interest rate of 1.6%; and estimated forfeiture rate of 12%. The expected life of the stock options granted was estimated using the historical exercise behavior of employees. The expected volatility was generally based on historical volatility as calculated using historical data during the five years prior to the grant date.

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Subsequent Events - Additional Information - Logitel (Detail) (USD $)	6 Months Ended			6 Months Ended	1 Months Ended		1 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Newbuildings [Member]	Jun. 30, 2014 Teekay Offshore [Member]	Aug. 31, 2014 Subsequent Events [Member] Teekay Offshore [Member] FloatingAccommodationUnits	Aug. 31, 2014 Subsequent Events [Member] Teekay Offshore [Member] Purchase Commitment [Member]	Aug. 31, 2014 Subsequent Events [Member] Logitel Offshore Holdings [Member] Teekay Offshore [Member]	Aug. 31, 2014 Subsequent Events [Member] Logitel Offshore Holdings [Member] Teekay Offshore [Member] Newbuildings [Member] FloatingAccommodationUnits	Aug. 31, 2014 Subsequent Events [Member] Logitel Offshore Holdings [Member] Teekay Offshore [Member] Order or Production Backlog [Member] FloatingAccommodationUnits	Aug. 31, 2014 Subsequent Events [Member] Logitel Offshore Holdings [Member] Teekay Offshore [Member] Order or Production Backlog [Member] Newbuildings [Member]	Aug. 31, 2014 Subsequent Events [Member] Sevan Marine ASA [Member] Teekay Offshore [Member]
Subsequent Event [Line Items]
Percentage of ownership acquired							100.00%
Portion of purchase price paid in cash				$ 253,000,000			$ 4,000,000
Potential additional cash amount for purchase price							27,600,000
Number of floating accommodation units					3			2	6
Expected cost of project	1,500,000,000				534,000,000
Advances on newbuilding contracts and conversion costs	1,403,850,000	796,324,000	221,400,000			18,000,000
Purchase obligation due (balance of 2014)						8,800,000
Purchase obligation due (2015)						341,000,000
Purchase obligation due (2016)						166,200,000
License fees					22,200,000
Long-term Debt	6,732,367,000	6,109,470,000					60,000,000
Repayment of non-interest bearing amount on bond											$ 10,000,000
Long-term debt, maturities, repayment terms										within 6 months of delivery of each of the next six FAUs, including the three ordered from COSCO
Debt conversion											The conversion option is exercisable if the fourth of six options with COSCO is not exercised by its option expiry date on November 30, 2016. In this case, Sevan has a one-time option to receive the remaining two options with COSCO in exchange for the extinguishment of the remaining amount owing on the bond agreement. If the one-time option is not exercised by Sevan, any remaining amount owing on the bond agreement will be forgiven when there is a continuous three-year period, from the date of the latest delivery of a newbuilding FAU based on the Sevan cylindrical hull design, where no such Seven design FAUs are ordered.

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Subsequent Events - Additional Information - China LNG (Detail) (USD $) In Millions, unless otherwise specified	6 Months Ended	1 Months Ended					1 Months Ended
	Jun. 30, 2014	Jul. 31, 2014 Subsequent Events [Member] m	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] Metric_Tons Trains	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] Russia-based Novatek OAO [Member]	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] France-based Total S.A. [Member]	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] China-based China National Petroleum Corporation [Member]	Jul. 31, 2014 Subsequent Events [Member] China Lng [Member] Teekay LNG [Member] m3 Vessel
Subsequent Event [Line Items]
Percentage of ownership in joint venture							50.00%
Ownership percentage				60.00%	20.00%	20.00%
Number of vessels							6
Number of LNG trains			3
Total expected capacity of trains			16,500,000
Volume of vessels							172,000
Fully built-up cost	$ 1,500						$ 2,100
Maximum icebreaking capabilities in meters		2.1

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Document and Entity Information	6 Months Ended
	Jun. 30, 2014
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Trading Symbol	TK
Entity Registrant Name	TEEKAY CORP
Entity Central Index Key	0000911971
Current Fiscal Year End Date	--12-31

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

10. Commitments and Contingencies

a) Vessels Under Construction

As at June 30, 2014, the Company was committed to the construction of five LNG carriers, four ALP towage vessels and two floating, storage and offloading (or FSO) conversions for a total cost of approximately $1.5 billion, excluding capitalized interest and other miscellaneous construction costs. Two LNG carriers are scheduled for delivery in 2016, and three LNG carriers are scheduled for delivery in 2017, the four ALP towage vessels are scheduled for delivery in 2016 and the two FSO conversions are scheduled for completion in the fourth quarter of 2014 and the fourth quarter of 2016, respectively. As at June 30, 2014, payments made towards these commitments totaled $221.4 million (excluding $4.6 million of capitalized interest and other miscellaneous construction costs) and the carrying value of completed units not yet in service was $1.2 billion. As at June 30, 2014, the remaining payments required to be made under these newbuilding and conversion capital commitments were $131.2 million (remainder of 2014), $271.2 million (2015), $445.8 million (2016), and $399.0 million (2017).

b) Joint Ventures

As described in Note 4d, Teekay LNG has an ownership interest in the BG Joint Venture and, as part of the acquisition, agreed to assume BG’s obligation to provide shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates pursuant to a ship construction support agreement. The shipbuilding and crew training obligation to be incurred, net of the reimbursement from BG, are estimated to be $2.5 million (remainder of 2014), $3.7 million (2015), $2.0 million (2016), $2.4 million (2017), $3.0 million (2018) and $2.8 million (thereafter).

In addition, the BG Joint Venture secured a $787.0 million debt facility to finance a portion of the estimated fully built-up cost of $1.0 billion for its four newbuilding carriers, with the remaining portion to be financed on a pro rata ownership basis by Teekay LNG and the other partners. Teekay LNG’s proportionate share of the newbuilding installments, net of the existing debt financing, is $3.8 million (remainder of 2014), $4.9 million (2015), $7.9 million (2016), $15.0 million (2017), $17.3 million (2018) and $6.3 million (thereafter).

c) Legal Proceedings and Claims

The Company may, from time to time, be involved in legal proceedings and claims that arise in the ordinary course of business. The Company believes that any adverse outcome of existing claims, individually or in the aggregate, would not have a material effect on its financial position, results of operations or cash flows, when taking into account its insurance coverage and indemnifications from charterers.

Navion Hispania Incident

On November 13, 2006, one of Teekay Offshore’s shuttle tankers, the Navion Hispania, collided with the Njord Bravo, an FSO unit, while preparing to load an oil cargo from the Njord Bravo. The Njord Bravo services the Njord field, which is operated by Statoil Petroleum AS (or Statoil) and is located off the Norwegian coast. At the time of the incident, Statoil was chartering the Navion Hispania from Teekay Offshore. The Navion Hispania and the Njord Bravo both incurred damage as a result of the collision. In November 2007, Navion Offshore Loading AS (or NOL) and Teekay Navion Offshore Loading Pte Ltd. (or TNOL), subsidiaries of Teekay Offshore, and Teekay Shipping Norway AS (or TSN), a subsidiary of Teekay, were named as co-defendants in a legal action filed by Norwegian Hull Club (the hull and machinery insurers of the Njord Bravo), several other insurance underwriters and various licensees in the Njord field. The plaintiffs sought damages for vessel repairs, expenses for a replacement vessel and other amounts related to production stoppage on the field, totaling NOK 213,000,000 (approximately $34.7 million).

The appellate court in June 2013 held that NOL, TNOL and TSN are jointly and severally responsible towards the plaintiffs for all the losses as a result of the collision, plus interest accrued on the amount of damages. In addition, Statoil ASA was held not to be under an obligation to indemnify NOL, TNOL and TSN for the losses. NOL, TNOL and TSN were also held liable for legal costs associated with court proceedings. As a result of this judgment, in the second quarter of 2013 Teekay Offshore recognized a liability in the amount of NOK 213,000,000 in respect of damages, NOK 66,000,000 in respect of interest and NOK 11,000,000 in respect of legal costs, totaling NOK 290,000,000 (approximately $47.3 million), to the plaintiffs recorded in accrued liabilities. In the fourth quarter of 2013, Teekay Offshore recognized an additional liability of NOK 4,000,000 in respect of interest, bringing the total liability to NOK 294,000,000 (approximately $47.9 million). The judgment rendered deals with liability only and the ultimate amount of damages may be reduced compared to the NOK 213,000,000 claimed by the plaintiffs.

Teekay Offshore and Teekay maintain protection and indemnity insurance for damages to the Navion Hispania and insurance for collision-related costs and claims. These insurance policies are expected to cover the costs related to this incident, including any costs not indemnified by Statoil, and thus a receivable of NOK 294,000,000 (approximately $47.9 million) was concurrently recorded in accounts receivable, which equals the total cost of the claim. In addition, Teekay has agreed to indemnify Teekay Offshore for any losses it may incur in connection with this incident. In the fourth quarter of 2013, the insurer made payments directly to the plaintiffs in full settlement of interest and partial settlement of legal costs and thus Teekay Offshore, as at December 31, 2013, reduced its liability and related receivable to NOK 213,000,000 in respect of damages and approximately NOK 3,400,000 in respect of legal costs, totaling approximately NOK 216,400,000 (approximately $35.3 million). No further payments were made in the first six months of 2014.

Teekay Nakilat Capital Lease

Teekay Nakilat Corporation (or Teekay Nakilat), a subsidiary of Teekay LNG, is the lessee under 30-year capital lease arrangements with a third party for the three LNG carriers (or the RasGas II Leases). The UK taxing authority (or HMRC) has been urging the lessor as well as other lessors under capital lease arrangements that have tax benefits similar to the ones provided by the RasGas II Leases, to terminate such finance lease arrangements, and has in other circumstances challenged the use of similar structures. As a result, the lessor has requested that the Teekay Nakilat Joint Venture contemplate the termination of the RasGas II Leases or entertain other alternatives for the leasing structure. The Teekay Nakilat Joint Venture has declined the request from HMRC to voluntarily terminate the RasGas II Leases primarily because of a January 2012 court decision from the First Tribunal regarding a similar financial lease of an LNG carrier that ruled in favor of the taxpayer, as well as a 2013 decision from the Upper Tribunal that upheld the 2012 verdict. However, HMRC appealed the 2013 decision to the Court of Appeal and in August 2014, HMRC was successful in having the judgment of the First Tribunal (in favor of the taxpayer) set aside. The matter will now be reconsidered by the First Tribunal, taking into account the appellate court’s comments on their earlier judgment. If HMRC is able to successfully challenge the RasGas II Leases, the Teekay Nakilat Joint Venture could be subject to significant costs associated with the termination of the lease or increased lease payments to compensate the lessor for the lost tax benefits. Teekay LNG estimates its 70.0% share of the potential exposure to be approximately $34 million, exclusive of any interest rate swap termination costs and costs associated with any new financing.

Petrojarl Banff Storm Damage

On December 7, 2011, the Petrojarl Banff FPSO unit (or Banff), which operates on the Banff field in the U.K. sector of the North Sea, suffered a severe storm event and sustained damage to its moorings, turret and subsea equipment, which necessitated the shutdown of production on the unit. Due to the damage, the Company declared force majeure under the customer contract on December 8, 2011 and the Banff FPSO unit commenced a period of off-hire while the necessary repairs and upgrades were completed and the weather permitted re-installation of the unit on the Banff field. The Company does not have off-hire insurance covering the Banff FPSO. The repairs and upgrades were completed in 2014, and the Banff FPSO unit resumed production on the Banff field in July 2014, where it is expected to remain under contract until the end of 2018.

The Company expects that repair costs to the Banff FPSO unit and equipment and costs associated with the emergency response to prevent loss or further damage during the December 7, 2011 storm event will be primarily reimbursed through its insurance coverage, subject to a $0.8 million deductible and the other terms and conditions of the applicable policies. In addition, the Company incurred certain capital upgrade costs for the Banff FPSO unit and the Apollo Spirit related to upgrades to the mooring system required by the relevant regulatory authorities due to the extreme weather and sea states experienced during the December 7, 2011 storm. The Apollo Spirit was operating on the Banff field as a storage tanker and returned to service on the Banff field at the same time as the Banff FPSO unit. The total of these capital upgrade costs is approximately $164 million. The recovery of the capital upgrade costs from the charterer is subject to commercial negotiations or, failing agreement, the responsibility for these costs will be determined by an expedited arbitration procedure. Any capital upgrade costs not recovered from the charterer will be capitalized to the vessel cost.

d) Redeemable Non-Controlling Interest

During 2010, an unrelated party contributed a shuttle tanker with a value of $35.0 million to a subsidiary of Teekay Offshore for a 33% equity interest in the subsidiary. The non-controlling interest owner of Teekay Offshore’s 67% owned subsidiary holds a put option which, if exercised, would obligate Teekay Offshore to purchase the non-controlling interest owner’s 33% share in the entity for cash in accordance with a defined formula. The redeemable non-controlling interest is subject to remeasurement if the formulaic redemption amount exceeds the carrying value. No remeasurement was required as at June 30, 2014.

e) Other

The Company enters into indemnification agreements with certain officers and directors. In addition, the Company enters into other indemnification agreements in the ordinary course of business. The maximum potential amount of future payments required under these indemnification agreements is unlimited. However, the Company maintains what it believes is appropriate liability insurance that reduces its exposure and enables the Company to recover future amounts paid up to the maximum amount of the insurance coverage, less any deductible amounts pursuant to the terms of the respective policies, the amounts of which are not considered material.

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Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Detail) In Thousands, unless otherwise specified	6 Months Ended					6 Months Ended
	Jun. 30, 2014 U.S. Dollar-denominated interest rate swaps 1 [Member] London Interbank Offered Rate (LIBOR) [Member] USD ($)	Jun. 30, 2014 U.S. Dollar-denominated interest rate swaps 2 [Member] London Interbank Offered Rate (LIBOR) [Member] USD ($)	Jun. 30, 2014 U.S. Dollar-denominated interest rate swaps 3 [Member] London Interbank Offered Rate (LIBOR) [Member] USD ($)	Jun. 30, 2014 U.S. Dollar-denominated interest rate swaps 4 [Member] London Interbank Offered Rate (LIBOR) [Member] USD ($)	Jun. 30, 2014 Euro-denominated interest rate swaps [Member] EUR (€)	Jun. 30, 2014 Euro-denominated interest rate swaps [Member] Euro Interbank Offered Rate Euribor [Member] USD ($)	Jun. 30, 2014 Interest rate swap agreements [Member] USD ($)
Derivative [Line Items]
Principal Amount	$ 400,757	$ 3,653,623	$ 500,000	$ 469,066	€ 241,700	$ 330,845
Fair Value / Carrying Amount of Asset / (Liability)	$ (91,531)	$ (362,136)	$ (7,416)	$ 121,309		$ (44,034)	$ (383,808)
Weighted-Average Remaining Term (Years)	22 years 7 months 6 days	6 years 1 month 6 days	1 year 2 months 12 days	22 years 7 months 6 days		6 years 6 months
Fixed Interest Rate	4.90%	3.60%	3.10%	4.80%		3.10%

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Supplemental Cash Flow Information - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended		1 Months Ended	3 Months Ended	1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014 VLCC [Member] Vessel	Mar. 31, 2014 VLCC [Member]	Jun. 30, 2014 BG International Limited [Member] Teekay LNG [Member] Newbuildings [Member] Vessel	Jun. 30, 2014 BG International Limited [Member] Teekay LNG [Member] Newbuildings [Member] Shipbuilding supervision and crew training services [Member] Vessel
Noncash or Part Noncash Divestitures [Line Items]
Number of vessels					3		2	4
Estimated aggregate fair value of vessels					$ 222,000,000	$ 222,000,000
Interest income recognized	793,000	2,018,000	2,576,000	3,036,000		15,200,000
Payments to acquire ownership interest								20,300,000
Fair value of the service obligation								$ 30,200,000

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Unaudited Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Current
Cash and cash equivalents (note 8)	$ 748,900	$ 614,660
Restricted cash	3,935	4,748
Accounts receivable, including non-trade of $100,009 (2013 - $109,114) and related party balance of $15,579 (2013 - $16,371)	559,047	528,594
Assets held for sale (notes 7a and 11)		176,247
Net investment in direct financing leases (note 5)	23,641	21,545
Prepaid expenses and other	62,790	57,158
Current portion of loans to equity accounted investees	21,634	37,019
Current portion of investment in term loans		211,579
Current portion of derivative assets (note 15)	18,433	23,040
Total current assets	1,438,380	1,674,590
Restricted cash - non-current	499,108	497,984
Vessels and equipment (note 8)
At cost, less accumulated depreciation of $2,324,470 (2013 - $2,135,780)	5,894,500	5,983,128
Vessels under capital leases, at cost, less accumulated amortization of $159,701 (2013 - $152,020)	530,195	571,692
Advances on newbuilding contracts and conversion costs (notes 1 and 10a)	1,403,850	796,324
Total vessels and equipment	7,828,545	7,351,144
Net investment in direct financing leases - non-current (note 5)	750,385	705,717
Loans to equity accounted investees and joint venture partners, bearing interest between nil to 8%	133,526	132,229
Derivative assets (note 15)	113,550	69,797
Equity accounted investments (notes 4b, 4c and 4d)	807,700	690,309
Other non-current assets	214,788	159,494
Intangible assets - net	101,157	107,898
Goodwill	168,572	166,539
Total assets	12,055,711	11,555,701
Current
Accounts payable	161,477	98,415
Accrued liabilities	410,502	466,824
Liabilities associated with assets held for sale (notes 7a and 11)		168,007
Current portion of derivative liabilities (note 15)	177,469	143,999
Current portion of long-term debt (note 8)	655,601	996,425
Current obligation under capital leases	65,716	31,668
Current portion of in-process revenue contracts	29,983	40,176
Total current liabilities	1,500,748	1,945,514
Long-term debt, including amounts due to joint venture partners of $13,282 (2013 - $13,282) (note 8)	6,076,766	5,113,045
Long-term obligation under capital leases	499,458	566,661
Derivative liabilities (note 15)	372,046	299,570
In-process revenue contracts	129,833	139,676
Other long-term liabilities (note 16)	367,698	271,621
Total liabilities	8,946,549	8,336,087
Commitments and contingencies (note 4a, 5, 8, 10 and 15)
Redeemable non-controlling interest (note 10d)	15,149	16,564
Equity
Common stock and additional paid-in capital ($0.001 par value; 725,000,000 shares authorized; 72,239,252 shares outstanding (2013 - 70,729,399); 73,038,452 shares issued (2013 - 71,528,599)) (note 9)	756,067	713,760
Retained earnings	346,385	435,217
Non-controlling interest	2,009,585	2,071,262
Accumulated other comprehensive loss (note 14)	(18,024)	(17,189)
Total equity	3,094,013	3,203,050
Total liabilities and equity	$ 12,055,711	$ 11,555,701

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Investments

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Investments

4. Investments

a) Teekay Offshore Acquisition of ALP Maritime Services B.V.

In March 2014, our publicly-listed subsidiary Teekay Offshore Partners L.P. (NYSE: TOO) (or Teekay Offshore) acquired 100% of the shares of ALP Maritime Services B.V. (or ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. Concurrently with this transaction, Teekay Offshore and ALP entered into an agreement with Niigata Shipbuilding & Repair of Japan for the construction of four state-of-the-art SX-157 Ulstein Design ultra-long distance towing and anchor handling vessel newbuildings. These vessels will be equipped with dynamic positioning capability and are scheduled for delivery in 2016. Teekay Offshore is committed to acquire these newbuildings for a total cost of approximately $258 million.

Teekay Offshore acquired ALP for a purchase price of $2.6 million, which was paid in cash, and also entered into an arrangement to pay additional compensation to three former shareholders of ALP if certain requirements are satisfied. This contingent compensation consists of $2.4 million, which is payable upon the delivery and employment of ALP’s four newbuildings scheduled throughout 2016, and a further amount of up to $2.6 million, which is payable if ALP’s annual operating results from 2017 to 2021 meet certain targets. Teekay Offshore has the option to pay up to 50% of this compensation through the issuance of common units of Teekay Offshore. Each of the contingent compensation amounts is payable only if the three shareholders are employed by ALP at the time performance conditions are met. For the three and six months ended June 30, 2014, compensation costs were $0.2 million and were recorded under general and administrative expenses in the Company’s consolidated statements of (loss) income. Teekay Offshore also incurred a $1.0 million fee payable to a third party associated with the acquisition.

This acquisition of ALP and the related newbuilding orders represent Teekay Offshore’s entrance into the long-haul ocean towage and offshore installation services business. The Company believes that this acquisition allows Teekay Offshore to combine its infrastructure and access to capital with ALP’s experienced management team to further grow this niche business, which is in an adjacent sector to Teekay Offshore’s FPSO and shuttle tanker businesses. The acquisition of ALP was accounted for using the purchase method of accounting, based upon preliminary estimates of fair value.

The following table summarizes the preliminary estimates of fair values of the ALP assets acquired and liabilities assumed by Teekay Offshore on the acquisition date.

	As at
(in thousands of U.S. dollars)	March 14, 2014
	$
ASSETS
Cash and cash equivalents		294
Other current assets		404
Advances on newbuilding contracts		164
Other assets - long-term		395
Goodwill		2,032
Total assets acquired		3,289
LIABILITIES
Current liabilities		387
Other long-term liabilities		286
Total liabilities assumed		673
Net assets acquired		2,616
Consideration		2,616

The goodwill recognized in connection with the ALP acquisition is attributable primarily to the assembled workforce of ALP, including their experience, skills and abilities. Operating results of ALP are reflected in the Company’s consolidated financial statements commencing March 14, 2014, the effective date of acquisition. From the date of acquisition to June 30, 2014, the Company recognized $0.2 million of revenue and $1.7 million of net loss resulting from this acquisition.

b) Tanker Investments Ltd.

In January 2014, Teekay and its publicly-listed subsidiary Teekay Tankers Ltd. (NYSE: TNK) (or Teekay Tankers) formed Tanker Investments Ltd. (or TIL), which seeks to opportunistically acquire, operate and sell modern second-hand tankers to benefit from an expected recovery in the current cyclical low of the tanker market. Teekay and Teekay Tankers in the aggregate purchased 5.0 million shares of common stock, representing an initial 20% interest in TIL, as part of a $250 million private placement by TIL, which represents a total investment by Teekay and Teekay Tankers of $50.0 million. In addition, Teekay and Teekay Tankers received stock purchase warrants entitling them to purchase in the aggregate up to 1.5 million shares of common stock of TIL at a fixed price of $10 per share. The stock purchase warrants, which had a value of $6.8 million on issuance, were received in exchange for the Company’s involvement in the formation of TIL and such amount is reflected in other income (expenses) in the Company’s consolidated statements of (loss) income. The stock purchase warrants expire on January 23, 2019. See Note 15 for additional information about these warrants. The Company also received one Series A-1 preferred share and one Series A-2 preferred share, each of which entitles the holder to elect one board member of TIL. The preferred shares do not give the holder a right to any dividends or distributions of TIL. Teekay and Teekay Tankers account for their investment in TIL using the equity method.

In March 2014, TIL issued additional common shares and listed its shares on the Oslo Stock Exchange. The issuance of shares by an equity accounted investee is accounted by the Company as if the Company had sold a proportionate share of its investment, and the resulting gain or loss is recognized in equity income in the Company’s consolidated statements of income. For the six months ended June 30, 2014, the Company recognized a gain from this investment of $4.1 million. As of June 30, 2014, the combined interest of Teekay Tankers and Teekay in TIL was 13.0%.

As of June 30, 2014, a portion of the net proceeds from the equity issuances by TIL had been used to acquire four modern Suezmax crude oil tankers from Teekay, five modern Aframax tankers and two coated Aframax tankers from third parties and two VLCC vessels from Teekay Tankers. The remaining proceeds will be used to acquire additional tankers and for general corporate purposes.

c) Teekay LNG – Exmar LPG BVBA Joint Venture

In February 2013, the Company’s publicly-listed subsidiary Teekay LNG Partners L.P. (NYSE: TGP) (or Teekay LNG), entered into a 50/50 joint venture agreement with Belgium-based Exmar NV (or Exmar) to own and charter-in liquefied petroleum gas (or LPG) carriers with a primary focus on the mid-size gas carrier segment. The joint venture entity, called Exmar LPG BVBA took economic effect as of November 1, 2012 and, as of June 30, 2014, included 21 owned LPG carriers (including 10 newbuilding carriers scheduled for delivery between late 2014 and 2018) and four chartered-in LPG carriers. For its 50% ownership interest in the joint venture, including newbuilding payments made prior to the November 1, 2012 economic effective date of the joint venture, Teekay LNG invested approximately $133.1 million in exchange for equity and a shareholder loan and assumed approximately $108 million of its pro rata share of existing debt and lease obligations as of the economic effective date. These debt and lease obligations are secured by certain vessels in the Exmar LPG BVBA fleet. The excess of the book value of net assets acquired over Teekay LNG’s investment in the Exmar LPG BVBA, which amounted to approximately $6.0 million, has been accounted for as an adjustment to the value of the vessels, charter agreements and lease obligations of Exmar LPG BVBA, in accordance with the finalized purchase price allocation. Control of Exmar LPG BVBA is shared equally between Exmar and Teekay LNG. Teekay LNG accounts for its investment in Exmar LPG BVBA using the equity method.

d) Teekay LNG – BG International Limited Joint Venture

In June 2014, Teekay LNG acquired from BG International Limited (or BG) its ownership interests in four 174,000-cubic meter Tri-Fuel Diesel Electric liquefied natural gas (or LNG) carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China for a total fully built-up cost to the joint venture of approximately $1.0 billion. The vessels upon delivery, which are scheduled between September 2017 and January 2019, will each operate under 20-year fixed-rate time-charter contracts, plus extension options, with Methane Services Limited, a wholly-owned subsidiary of BG. As compensation for BG’s ownership interest in these four LNG carrier newbuildings, Teekay LNG assumed BG’s obligation to provide the shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates pursuant to a ship construction support agreement. Teekay on behalf of Teekay LNG, will provide the shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates. Teekay LNG estimates it will incur approximately $36.7 million of costs to provide these services, of which BG has agreed to pay a fixed amount of $20.3 million. In June 2014, Teekay LNG estimated that the fair value of the service obligation was $30.2 million and the fair value of the amount due from BG was $16.5 million. The $30.2 million service obligation is included in the current portion of in-process contracts, and the in-process contracts and the receivable from BG is included in other assets in the Company’s consolidated balance sheet. Through this transaction, Teekay LNG has a 30% ownership interest in two LNG carrier newbuildings and a 20% ownership interest in the remaining two LNG carrier newbuildings (collectively the BG Joint Venture). The excess of Teekay LNG’s investment in the BG Joint Venture over Teekay LNG’s share of the underlying carrying value of net assets acquired was approximately $13.7 million. This basis difference has notionally been allocated to the ship construction support agreements and the time-charter contracts. Teekay LNG accounts for its investment in the BG Joint Venture using the equity method.

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Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

3. Segment Reporting

The following tables include results for the Company’s four segments for the three and six months ended June 30, 2014 and 2013:

	Shuttle						Liquefied		Conventional
Three Months ended June 30, 2014	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		142,816			131,155			81,970		96,313			452,254
Voyage expenses		24,890			172			739		7,638			33,439
Vessel operating expenses		46,989			92,436			17,139		45,150			201,714
Time-charter hire expense		4,975			—			—		4,739			9,714
Depreciation and amortization		27,039			38,056			17,888		20,390			103,373
General and administrative(1)		8,005			15,524			6,294		7,122			36,945
Loan loss recoveries		—			(2,521	)		—		—			(2,521	)
Gain on sale of vessels and equipment		—			—			—		(9,615	)		(9,615	)
Restructuring charges		(820	)		—			—		576			(244	)
Income (loss) from vessel operations		31,738			(12,512	)		39,910		20,313			79,449
	Shuttle						Liquefied		Conventional
Three Months ended June 30, 2013	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		140,062			122,560			70,983		97,102			430,707
Voyage expenses		22,275			—			487		3,392			26,154
Vessel operating expenses		43,472			84,054			15,164		53,288			195,978
Time-charter hire expense		14,110			—			—		12,434			26,544
Depreciation and amortization		29,093			39,285			18,328		23,063			109,769
General and administrative(1)		9,324			11,760			5,314		8,997			35,395
Loan loss provisions		—			—			—		7,042			7,042
Gain on sale of vessels and equipment		—			(1,338	)		—		(3	)		(1,341	)
Restructuring charges		1,043			—			—		746			1,789
Income (loss) from vessel operations		20,745			(11,201	)		31,690		(11,857	)		29,377
	Shuttle						Liquefied		Conventional
Six Months ended June 30, 2014	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		304,028			273,674			163,393		217,653			958,748
Voyage expenses		56,619			172			1,572		10,088			68,451
Vessel operating expenses		93,007			185,940			33,650		90,303			402,900
Time-charter hire expense		16,387			—			—		9,619			26,006
Depreciation and amortization		54,376			75,868			36,001		40,586			206,831
General and administrative(1)		17,382			30,865			13,494		13,082			74,823
Loan loss recoveries		—			(2,521	)		—		—			(2,521	)
Gain on sale of vessels and equipment		—			—			—		(9,453	)		(9,453	)
Restructuring charges		(268	)		—			—		663			395
Income (loss) from vessel operations		66,525			(16,650	)		78,676		62,765			191,316
	Shuttle						Liquefied		Conventional
Six Months ended June 30, 2013	Tanker and FSO			FPSO			Gas		Tanker
	Segment			Segment			Segment		Segment			Total
Revenues		278,715			263,489			141,984		197,556			881,744
Voyage expenses		44,084			—			491		7,894			52,469
Vessel operating expenses		88,379			161,438			30,260		103,365			383,442
Time-charter hire expense		28,887			—			—		25,109			53,996
Depreciation and amortization		56,789			73,317			35,619		46,538			212,263
General and administrative(1)		19,828			24,121			11,510		19,207			74,666
Loan loss provisions		—			—			—		10,207			10,207
(Gain) loss on sale of vessels and equipment		—			(1,338	)		—		29			(1,309	)
Restructuring charges		1,630			—			—		2,213			3,843
Income (loss) from vessel operations		39,118			5,951			64,104		(17,006	)		92,167

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

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

	June 30, 2014		December 31, 2013
	$		$
Shuttle tanker and FSO segment		1,940,146		1,947,905
FPSO segment		3,340,920		2,836,998
Liquefied gas segment		3,699,293		3,616,044
Conventional tanker segment		1,576,691		1,874,101
Cash		748,900		614,660
Accounts receivable and other assets		749,761		665,993
Consolidated total assets		12,055,711		11,555,701

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Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

15. Derivative Instruments and Hedging Activities

The Company uses derivatives to manage certain risks in accordance with its overall risk management policies.

Foreign Exchange Risk

The Company economically hedges portions of its forecasted expenditures denominated in foreign currencies with foreign currency forward contracts.

As at June 30, 2014, the Company was committed to the following foreign currency forward contracts:

					Fair Value /
					Carrying
					Amount
					Of Asset			Expected Maturity
	Contract Amount in		Average		(Liability)			2014		2015
	Foreign Currency		Forward Rate (1)		$			$		$
Norwegian Kroner		667,700		6.15		(400	)		54,930		53,599
Singapore Dollar		6,000		1.26		46			4,767		—
						(354	)		59,697		53,599

(1) Average contractual exchange rate represents the contracted amount of foreign currency one U.S. Dollar will buy.

The Company enters into cross currency swaps, and pursuant to these swaps the Company receives the principal amount in NOK on the maturity date of the swap, in exchange for payment of a fixed U.S. Dollar amount. In addition, the cross currency swaps exchange a receipt of floating interest in NOK based on NIBOR plus a margin for a payment of U.S. Dollar fixed interest. The purpose of the cross currency swaps is to economically hedge the foreign currency exposure on the payment of interest and principal at maturity of the Company’s NOK-denominated bonds due in 2015 through 2019. In addition, the cross currency swaps economically hedge the interest rate exposure on the NOK bonds due in 2015 through 2019. The Company has not designated, for accounting purposes, these cross currency swaps as cash flow hedges of its NOK-denominated bonds due in 2015 through 2019. As at June 30, 2014, the Company was committed to the following cross currency swaps:

					Fair Value /
					Carrying
Notional	Notional	Floating Rate Receivable			Amount of
Amount	Amount	Reference		Fixed Rate	Asset /	Remaining
NOK	USD	Rate	Margin	Payable	(Liability)	Term (years)
700,000	122,800	NIBOR	4.75%	5.52%	(9,537)	1.3
500,000	89,700	NIBOR	4.00%	4.80%	(8,943)	1.6
600,000	101,400	NIBOR	5.75%	7.49%	(6,337)	2.6
700,000	125,000	NIBOR	5.25%	6.88%	(14,513)	2.8
800,000	143,500	NIBOR	4.75%	5.93%	(14,285)	3.6
900,000	150,000	NIBOR	4.35%	6.43%	(7,505)	4.2
1,000,000	162,200	NIBOR	4.25%	6.28%	(2,621)	4.6
					(63,741)

Interest Rate Risk

The Company enters into interest rate swap agreements which exchange a receipt of floating interest for a payment of fixed interest to reduce the Company’s exposure to interest rate variability on its outstanding floating-rate debt. In addition, the Company holds interest rate swaps which exchange a payment of floating rate interest for a receipt of fixed interest in order to reduce the Company’s exposure to the variability of interest income on its restricted cash deposits. The Company has not designated any of its interest rate swap agreements in its consolidated entities as cash flow hedges for accounting purposes.

As at June 30, 2014, the Company was committed to the following interest rate swap agreements related to its LIBOR-based debt, restricted cash deposits and EURIBOR-based debt, whereby certain of the Company’s floating-rate debt and restricted cash deposits were swapped with fixed-rate obligations or fixed-rate deposits:

					Fair Value /
					Carrying			Weighted-
					Amount of			Average		Fixed
	Interest		Principal		Asset /			Remaining		Interest
	Rate		Amount		(Liability)			Term		Rate
	Index		$		$			(years)		(%) (1)
LIBOR-Based Debt:
U.S. Dollar-denominated interest rate swaps (2)		LIBOR		400,757		(91,531	)		22.6		4.9
U.S. Dollar-denominated interest rate swaps (3)		LIBOR		3,653,623		(362,136	)		6.1		3.6
U.S. Dollar-denominated interest rate swaps (4)		LIBOR		500,000		(7,416	)		1.2		3.1
LIBOR-Based Restricted Cash Deposit:
U.S. Dollar-denominated interest rate swaps (2)		LIBOR		469,066		121,309			22.6		4.8
EURIBOR-Based Debt:
Euro-denominated interest rate swaps (5) (6)		EURIBOR		330,845		(44,034	)		6.5		3.1
						(383,808	)

(1) Excludes the margins the Company pays on its variable-rate debt, which, as of June 30, 2014, ranged from 0.3% to 4.5%.

(2) Principal amount reduces quarterly.

(3) Principal amount of $200 million is fixed at 2.14%, unless LIBOR exceeds 6%, in which case the Company pays a floating rate of interest.

(4) Interest rate swap with an aggregate principal amount of $180 million is being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2028. The interest rate swap is subject to mandatory early termination in 2014 whereby the swap will be settled based on its fair value at that time. Interest rate swaps with an aggregate principal amount of $320 million are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2021. These interest rate swaps are subject to mandatory early termination in 2016 whereby the swaps will be settled based on their fair value at that time.

(5) Principal amount reduces monthly to 70.1 million Euros ($96.0 million) by the maturity dates of the swap agreements.

(6) Principal amount is the U.S. Dollar equivalent of 241.7 million Euros.

Stock Purchase Warrants

In January 2014, Teekay and Teekay Tankers formed TIL. Teekay and Teekay Tankers purchased an aggregate of 5.0 million shares of TIL’s common stock, representing an initial 20% interest in TIL, as part of a $250 million private placement by TIL, which represents a total investment by Teekay and Teekay Tankers of $50.0 million. In addition, Teekay and Teekay Tankers received stock purchase warrants entitling them to purchase an aggregate of up to 1.5 million shares of common stock of TIL at a fixed price of $10 per share. The estimated fair value of the warrants on issuance was $6.8 million and is included in other income in the consolidated statements of (loss) income. The stock purchase warrants vest in four equally sized tranches. Each tranche will vest and become exercisable when and if the fair market value of a share of TIL’s common stock equals or exceeds $12.50, $15.00, $17.50 and $20.00, respectively (or equivalent amounts in NOK) for such tranche for any ten consecutive trading days. The stock purchase warrants expire on January 23, 2019. The fair value of the stock purchase warrants at June 30, 2014 was $8.1 million. The Company reports the unrealized gains and losses from the stock purchase warrants in realized and unrealized (losses) gains on non-designated derivatives in the consolidated statements of (loss) income.

Tabular Disclosure

The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s consolidated balance sheets.

	Current							Current
	Portion of							Portion of
	Derivative		Derivative		Accrued			Derivative			Derivative
	Assets		Assets		Liabilities			Liabilities			Liabilities
As at June 30, 2014
Derivatives not designated as a cash flow hedge:
Foreign currency contracts		696		11		—			(741	)		(320	)
Interest rate swap agreements		17,200		105,488		(22,281	)		(173,920	)		(310,295	)
Cross currency swap agreements		537		—		(39	)		(2,808	)		(61,431	)
Stock purchase warrants		—		8,051		—			—			—
		18,433		113,550		(22,320	)		(177,469	)		(372,046	)
As at December 31, 2013
Derivatives not designated as a cash flow hedge:
Foreign currency contracts		482		12		—			(1,819	)		(155	)
Interest rate swap agreements		21,779		69,785		(22,025	)		(140,503	)		(248,091	)
Cross currency swap agreements		779		—		3			(1,677	)		(51,324	)
		23,040		69,797		(22,022	)		(143,999	)		(299,570	)

As at June 30, 2014, the Company had multiple interest rate swaps and cross currency swaps with the same counterparty that are subject to the same master agreements. Each of these master agreements provides for the net settlement of all swaps subject to that master agreement through a single payment in the event of default or termination of any one swap. The fair value of these interest rate swaps are presented on a gross basis in the Company’s consolidated balance sheets. As at June 30, 2014, these interest rate swaps and cross currency swaps had an aggregate fair value asset amount of $122.0 million and an aggregate fair value liability amount of $411.2 million.

Realized and unrealized gains and losses from derivative instruments that are not designated for accounting purposes as cash flow hedges, are recognized in earnings and reported in realized and unrealized losses on non-designated derivatives in the consolidated statements of income. The effect of the gains and losses on derivatives not designated as hedging instruments in the consolidated statements of income are as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
	$			$			$			$
Realized (losses) gains relating to:
Interest rate swap agreements		(30,755	)		(30,899	)		(60,245	)		(61,251	)
Interest rate swap agreement terminations		—			(4,187	)		1,000			(4,187	)
Foreign currency forward contracts		110			(1,873	)		(1,175	)		(1,452	)
		(30,645	)		(36,959	)		(60,420	)		(66,890	)
Unrealized (losses) gains relating to:
Interest rate swap agreements		(39,096	)		96,911			(64,494	)		116,115
Foreign currency forward contracts		(1,926	)		(3,917	)		1,125			(6,979	)
Stock purchase warrants		(3,664	)		—			1,210			—
		(44,686	)		92,994			(62,159	)		109,136
Total realized and unrealized (losses) gains on derivative instruments		(75,331	)		56,035			(122,579	)		42,246

Realized and unrealized losses of the cross currency swaps are recognized in earnings and reported in foreign currency exchange (loss) gain in the consolidated statements of (loss) income. The effect of the loss on cross currency swaps on the consolidated statements of (loss) income is as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
	$			$			$			$
Realized gain on partial termination of cross currency swap		—			—			—			6,800
Realized (losses) gains		(144	)		503			(289	)		1,565
Unrealized losses		(24,803	)		(16,399	)		(11,481	)		(54,353	)
Total realized and unrealized losses on cross currency swaps		(24,947	)		(15,896	)		(11,770	)		(45,988	)

The Company is exposed to credit loss to the extent the fair value represents an asset in the event of non-performance by the counterparties to the foreign currency forward contracts, and cross currency and interest rate swap agreements; however, the Company does not anticipate non-performance by any of the counterparties. In order to minimize counterparty risk, the Company only enters into derivative transactions with counterparties that are rated A- or better by Standard & Poor’s or A3 or better by Moody’s at the time of the transaction. In addition, to the extent possible and practical, interest rate swaps are entered into with different counterparties to reduce concentration risk.

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Financial Instruments

6 Months Ended

Jun. 30, 2014

Investments, All Other Investments [Abstract]

Financial Instruments

11. Financial Instruments

a) Fair Value Measurements

For a description of how the Company estimates fair value and for a description of the fair value hierarchy levels, see Note 11 in the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year ended December 31, 2013. 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 fair value on a recurring basis.

				June 30, 2014						December 31, 2013
	Fair Value Hierarchy Level			Carrying Amount Asset (Liability) $			Fair Value Asset (Liability) $			Carrying Amount Asset (Liability) $			Fair Value Asset (Liability) $
Recurring
Cash and cash equivalents, restricted cash, and marketable securities		Level 1			1,254,309			1,254,309			1,119,966			1,119,966
Derivative instruments (note 15)
Interest rate swap agreements - assets		Level 2			122,506			122,506			91,415			91,415
Interest rate swap agreements - liabilities		Level 2			(506,314	)		(506,314	)		(410,470	)		(410,470	)
Cross currency interest swap agreement		Level 2			(63,741	)		(63,741	)		(52,219	)		(52,219	)
Foreign currency contracts		Level 2			(354	)		(354	)		(1,480	)		(1,480	)
Stock purchase warrants (notes 4b and 15)		Level 3			8,051			8,051			—			—
Non-recurring
Vessels and equipment		Level 2			—			—			17,250			17,250
Assets held for sale (1)		Level 2			—			—			176,247			176,247
Other
Investment in term loans		Level 3			—			—			211,579			209,570
Loans to equity accounted investees and joint venture partners - Current		Level 3			21,634			21,634			37,019			37,019
Loans to equity accounted investees and joint venture partners - Long-term			(2)		133,526				(2)		132,229				(2)
Liabilities associated with assets held for sale (1)		Level 2			—			—			(168,007	)		(168,007	)
Long-term receivable included in other assets		Level 2			16,452			16,452			—			—
Long-term debt - public (note 8)		Level 1			(1,766,576	)		(1,873,925	)		(1,313,358	)		(1,376,829	)
Long-term debt - non-public (note 8)		Level 2			(4,965,791	)		(4,830,135	)		(4,796,112	)		(4,582,274	)

(1) The fair value of the Company’s assets held for sale and liabilities associated with assets held for sale include vessels held for sale, long-term debt and other working capital balances.

(2) In these consolidated financial statements, the Company’s loans to and equity investments in equity accounted investees form the aggregate carrying value of the Company’s interests in entities accounted for by the equity method. In addition, the loans to joint venture partners together with the joint venture partner’s equity investment in joint ventures form the net aggregate carrying value of the Company’s interest in the joint ventures. The fair value of the individual components of such aggregate interests is not determinable.

Changes in fair value during the six months ended June 30, 2014 and 2013 for the Company’s derivative instrument, TIL stock purchase warrants, which are described below and are measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014		2013
	$			$		$		$
Fair value at the beginning of the period		11,714			—		—		—
Fair value on issuance		—			—		6,840		—
Unrealized (loss) gain included in earnings		(3,663	)		—		1,211		—
Fair value at the end of the period		8,051			—		8,051		—

During January 2014, the Company received stock purchase warrants entitling it to purchase up to 1.5 million shares of the common stock of TIL at a fixed price of $10 per share (see Note 15). The estimated fair value of the stock purchase warrants was determined using a Monte-Carlo simulation and is based, in part, on the historical price of common shares of TIL, risk-free rate, vesting conditions and the historical volatility of the comparable companies. The estimated fair value of these stock purchase warrants as of June 30, 2014 is based on the historical volatility of the comparable companies of 54.1%. A higher or lower volatility would result in a higher or lower fair value of this derivative asset.

b. Financing Receivables

The following table contains a summary of the Company’s financing receivables by type of borrower and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis.

Class of Financing Receivable	Credit Quality Indicator	Grade	June 30, 2014 $		December 31, 2013 $
Direct financing leases	Payment activity	Performing		774,026		727,262
Other loan receivables
Investment in term loans and interest receivable	Collateral	Non-Performing(1)		—		211,579
Loans to equity accounted investees and joint venture partners(2)	Other internal metrics	Performing		155,160		169,248
Long-term receivable included in other assets	Payment activity	Performing		50,136		31,634
				979,322		1,139,723

(1) On March 21, 2014, Teekay and Teekay Tankers took ownership of the vessels held as collateral in satisfaction of the loans and accrued interest.

(2) The Company’s subsidiary Teekay LNG owns a 99% interest in Teekay Tangguh, which owns a 70% interest in the Teekay Tangguh Joint Venture. During the year ended December 31, 2012, the parent company of Teekay LNG‘s joint venture partner, BLT, suspended trading on the Jakarta Stock Exchange and entered into a court-supervised debt restructuring in Indonesia. The remaining loans to joint venture partner, BLT LNG Tangguh Corporation, totaling $10.3 million as at June 30, 2014 (December 31, 2013 - $28.5 million) are considered to be collectible given a signed settlement Agreement between the Company and BLT LNG Tangguh Corporation regarding repayment terms. In February 2014, the Teekay Tangguh Joint Venture declared dividends of $69.5 million, of which $14.4 million was used to offset the advances made to BLT LNG Tangguh Corporation and P.T. Berlian Laju Tanker and $6.5 million was repaid to Teekay by BLT LNG Tangguh Corporation. In addition, $1.0 million was paid to Teekay by BLT as part of the settlement agreement.

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Derivative Instruments and Hedging Activities - Effect of (Loss) Gain on Derivatives Not Designated as Hedging Instruments (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized gain (loss) net	$ (30,645)	$ (36,959)	$ (60,420)	$ (66,890)
Unrealized (losses) gains relating to:
Derivative instruments not designated as hedging instruments unrealized (loss) gain net	(44,686)	92,994	(62,159)	109,136
Total realized and unrealized (losses) gains on derivative instruments	(75,331)	56,035	(122,579)	42,246
Interest rate swap agreements [Member]
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized gain (loss) net	(30,755)	(30,899)	(60,245)	(61,251)
Unrealized (losses) gains relating to:
Derivative instruments not designated as hedging instruments unrealized (loss) gain net	(39,096)	96,911	(64,494)	116,115
Interest rate swap agreement terminations [Member]
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized gain (loss) net		(4,187)	1,000	(4,187)
Foreign currency forward contracts [Member]
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized gain (loss) net	110	(1,873)	(1,175)	(1,452)
Unrealized (losses) gains relating to:
Derivative instruments not designated as hedging instruments unrealized (loss) gain net	(1,926)	(3,917)	1,125	(6,979)
Stock purchase warrants [Member]
Unrealized (losses) gains relating to:
Derivative instruments not designated as hedging instruments unrealized (loss) gain net	$ (3,664)		$ 1,210

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Vessel Sales, Asset Impairments and Provisions

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Vessel Sales, Asset Impairments and Provisions

7. Vessel Sales, Asset Impairments and Provisions

a) Vessel Sales

During three months ended June 30, 2014, Teekay Tankers sold two wholly-owned subsidiaries, each of which owns one VLCC, to TIL for aggregate proceeds of $154.0 million plus related working capital on closing of $1.7 million. The Company received $154.0 million of the aggregate purchase price in cash during the second quarter of 2014 and the remainder of the purchase price was received from TIL in July 2014. The Company used a portion of the proceeds from this transaction to prepay $152 million on one of the Company’s revolving credit facilities and the remainder of the proceeds will be used for general corporate purposes. During three months ended June 30, 2014, the Company realized a net gain of $10.0 million from the sale of the two subsidiaries to TIL (See Note 7b).

During the six months ended June 30, 2014, the Company sold four 2009-built Suezmax tankers that were part of the Company’s conventional tanker segment. These vessels were classified as held for sale on the consolidated balance sheet as at December 31, 2013, with their net book values written down to their sale proceeds. During the six months ended June 30, 2014, the Company realized a net loss of $0.5 million from the sale of these vessels.

During the six months ended June 30, 2013, the Company sold a 1992-built shuttle tanker, a 1992-built conventional tanker, a 1995-built conventional tanker and a 1998-built conventional tanker, that were part of the Company’s shuttle tanker and conventional tanker segments. Three of these vessels were classified as held for sale on the consolidated balance sheet as at December 31, 2012, with their net book values written down to their sale proceeds net of cash outlays to complete the sales. All of the vessels were older vessels that the Company disposed of in the ordinary course of business.

During the three and six months ended June 30, 2013, the Company sold sub-sea equipment from the Petrojarl I FPSO unit that is part of the Company’s FPSO segment. The Company realized a gain of $1.3 million from the sale of the equipment.

b) Loan Loss (Recoveries) Provisions

During the three and six months ended June 30, 2014, the Company reversed a $2.5 million loss provision for an amount receivable related to an FPSO front-end engineering and design study completed in 2013 as this receivable was recovered in the current period.

During the three and six months ended June 30, 2013, the Company recorded $7.0 million and $10.2 million, respectively, of loan loss provisions in respect of its investments in three term loans. The term loan borrower was facing financial difficulty and had defaulted on its interest payment obligations since January 31, 2013. The Company reduced the net carrying amount of the investment in term loan as the value of the underlying collateral had declined during the three- and six month periods. Later in 2013, the Company increased the net carrying amount of the investments in term loans, which included accrued interest income as the estimated future cash flows, which primarily reflected the estimated value of the underlying collateral, increased during 2013. During March 2014, the Company assumed ownership of the three VLCCs that collateralized the investment in term loans (see Note 18a). At the time of assumption of ownership, these vessels had an aggregate fair value of approximately $222 million, which exceeded the carrying value of the loans. As a result, in the first quarter of 2014, the Company recognized $15.2 million of interest income, of which $11.2 million related to prior periods and was previously unrecognized, owing under the loans. In May 2014, Teekay Tankers sold two of the VLCCs to TIL and recognized a gain on sale of $10.0 million (see Note 7a).

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Long-Term Debt - Additional Information - Senior unsecured bonds (Detail) (Teekay Offshore [Member], USD $) In Millions, unless otherwise specified			6 Months Ended
	Jun. 30, 2014 Senior Unsecured Bonds Mature in July 2019 [Member]	May 31, 2014 Senior Unsecured Bonds Mature in July 2019 [Member]	Jun. 30, 2014 Ten-year senior unsecured bonds [Member]	Dec. 31, 2013 Ten-year senior unsecured bonds [Member]
Debt Instrument [Line Items]
Senior unsecured bonds issued		$ 300.0		$ 171.1
Debt instrument, carrying amount	$ 300.0
Debt instrument interest		6.00%		4.96%
Debt instrument collateral, description			The bonds are collateralized by first-priority mortgages on the two vessels to which the bonds relate, together with other related security.

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Vessel Charters

6 Months Ended

Jun. 30, 2014

Text Block [Abstract]

Vessel Charters

5. Vessel Charters

Teekay LNG owns a 99% interest in Teekay Tangguh Borrower LLC (or Teekay Tangguh), which owns a 70% interest in Teekay BLT Corporation (or the Teekay Tangguh Joint Venture), giving Teekay LNG a 69% interest in the Teekay Tangguh Joint Venture. The joint venture is a party to operating leases whereby it is leasing two LNG carriers (or the Tangguh LNG Carriers) to a third party, which is in turn leasing the vessels back to the joint venture. In addition to Teekay LNG’s minimum charter hire payments to be paid and received under these leases for the Tangguh LNG Carriers, which are described in Note 9 to the audited consolidated financial statements filed with the Company’s Annual Report on Form 20-F for the year ended December 31, 2013, the additional minimum estimated charter hire payments for the remainder of the year and the next four fiscal years, as at June 30, 2014, for the Company’s chartered-in and chartered-out vessels were as follows:

	Remainder
	of 2014		2015		2016		2017		2018
	(in millions of U.S. dollars)
Charters-in - operating leases		34.5		31.9		9.1		9.1		0.4
Charters-in - capital leases (1)		42.4		31.8		31.7		55.0		51.3
		76.9		63.7		40.8		64.1		51.7
Charters-out - operating leases (2)		624.0		1,438.8		1,231.4		1,225.1		997.2
Charters-out - direct financing leases		45.0		95.5		95.8		219.8		185.6
		669.0		1,534.3		1,327.2		1,444.9		1,182.8

(1) As at June 30, 2014 and December 31, 2013, the Company had $475.8 million and $475.6 million of restricted cash which, including any interest earned on such amounts, is restricted to being used for charter hire payments of certain vessels chartered-in under capital leases. The Company also maintains restricted cash deposits relating to certain term loans and other obligations, which cash totaled $27.3 million and $27.1 million as at June 30, 2014 and December 31, 2013, respectively.

(2) The minimum scheduled future operating lease revenues should not be construed to reflect total charter hire revenues for any of the years. Minimum scheduled future revenues do not include revenue generated from new contracts entered into after June 30, 2014, revenue from unexercised option periods of contracts that existed on June 30, 2014 or variable or contingent revenues. In addition, minimum scheduled future operating lease revenues presented in the table have been reduced by estimated off-hire time for any period maintenance. The amounts may vary given unscheduled future events such as vessel maintenance.

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Equity Financing Transactions

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Equity Financing Transactions

6. Equity Financing Transactions

During the six months ended June 30, 2014, one of the Company’s publicly-listed subsidiaries, Teekay Offshore, completed the following equity issuances under a continuous offering program:

	Total Proceeds Received $		Less: Teekay Corporation Portion $			Offering Expenses $			Net Proceeds Received $
Six Months ended June 30, 2014
Teekay Offshore Continuous Offering Program		7,784		(156	)		(153	)		7,475

In April 2013, the Voyageur Spirit floating, production, storage and offloading (or FPSO) unit began production and on May 2, 2013, Teekay completed the acquisition of the Voyageur Spirit FPSO unit and, immediately thereafter, Teekay Offshore acquired the unit from Teekay for an original purchase price of $540.0 million. Teekay Offshore financed the acquisition with the assumption of the $230.0 million debt facility secured by the unit, $253.0 million in cash and a $44.3 million equity private placement of common units to Teekay Corporation (including the general partner’s 2% proportionate capital contribution), which had a value of $40.0 million at the time Teekay offered to sell the units to Teekay Offshore. Upon completion of the private placement to Teekay, Teekay Offshore had 83.6 million common units outstanding. As at June 30, 2014, Teekay held a 29.2% interest in Teekay Offshore, including the Company’s 2% general partner interest. Teekay maintains control of Teekay Offshore by virtue of its control of the general partner and will continue to consolidate the subsidiary.

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Long-Term Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Long-Term Debt

8. Long-Term Debt

	June 30, 2014		December 31, 2013
	$		$
Revolving Credit Facilities		1,610,450		1,919,086
Senior Notes (8.5%) due January 15, 2020		447,598		447,430
Norwegian Kroner-denominated Bonds due through January 2019		847,860		691,778
U.S. Dollar-denominated Term Loans due through 2023		3,011,214		2,523,523
U.S. Dollar Bonds due through 2023		471,118		174,150
Euro-denominated Term Loans due through 2023		330,845		340,221
U.S. Dollar-denominated Unsecured Demand Loans due to Joint Venture Partners		13,282		13,282
Total		6,732,367		6,109,470
Less current portion		655,601		996,425
Long-term portion		6,076,766		5,113,045

As of June 30, 2014, the Company had 15 revolving credit facilities (or the Revolvers) available, which, as at such date, provided for aggregate borrowings of up to $2.5 billion, of which $0.9 billion was undrawn. Interest payments are based on LIBOR plus margins; at June 30, 2014 and December 31, 2013, the margins ranged between 0.45% and 4.5%. At June 30, 2014 and December 31, 2013, the three-month LIBOR was 0.23% and 0.25%, respectively. The total amount available under the Revolvers reduces by $612.6 million (remainder of 2014), $316.2 million (2015), $740.2 million (2016), $463.7 million (2017) and $355.7 million (2018). Subsequent to June 30, 2014, Teekay Offshore received commitments to refinance $330.0 million of revolving credit facilities coming due during the remainder of 2014. Teekay Offshore expects the refinancing to be completed in September 2014, and the amount available under the new revolving credit facility will reduce quarterly by $16.5 million per quarter over five years. The Revolvers are collateralized by first-priority mortgages granted on 55 of the Company’s vessels, together with other related security, and include a guarantee from Teekay or its subsidiaries for all outstanding amounts.

The Company’s 8.5% senior unsecured notes (or the 8.5% Notes) are due January 15, 2020 with a principal amount of $450 million. The 8.5% Notes were sold at a price equal to 99.181% of par and the discount is accreted through the maturity date of the notes using the effective interest rate of 8.625% per year. The Company capitalized issuance costs of $9.4 million, which is recorded in other non-current assets in the consolidated balance sheet and is amortized to interest expense over the term of the 8.5% Notes. The 8.5% Notes rank equally in right of payment with all of Teekay’s existing and future senior unsecured debt and senior to any future subordinated debt of Teekay. The 8.5% Notes are not guaranteed by any of Teekay’s subsidiaries and effectively rank behind all existing and future secured debt of Teekay and other liabilities of its subsidiaries.

The Company may redeem the 8.5% Notes in whole or in part at any time before their maturity date at a redemption price equal to the greater of (i) 100% of the principal amount of the 8.5% Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 8.5% Notes to be redeemed (excluding accrued interest), discounted to the redemption date on a semi-annual basis, at the treasury yield plus 50 basis points, plus accrued and unpaid interest to the redemption date.

During 2013 and 2012, Teekay Offshore, Teekay LNG and Teekay issued in the Norwegian bond market a total of NOK 4.2 billion of senior unsecured bonds that mature between October 2015 and September 2018. As at June 30, 2014, the total carrying amount of the bonds was $684.8 million. The bonds are listed on the Oslo Stock Exchange. The interest payments on the bonds are based on NIBOR plus a margin, which ranges from 4.00% to 5.75%. The Company entered into cross currency rate swaps to swap all interest and principal payments of the bonds into U.S. dollars (or U.S. Dollars), with the interest payments fixed at rates ranging from 4.80% to 7.49%, and the transfer of principal fixed at $732.4 million upon maturity in exchange for NOK 4.2 billion (see Note 15).

In January 2014, Teekay Offshore issued NOK 1,000 million in senior unsecured bonds that mature in January 2019 in the Norwegian bond market. As of June 30, 2014, the carrying amount of the bonds was $163.1 million. The bonds were listed on the Oslo Stock Exchange in June 2014. The interest payments on the bonds are based on NIBOR plus a margin of 4.25%. Teekay Offshore entered into a cross currency swap to swap all interest and principal payments into USD, with the interest payments fixed at a rate of 6.28%, and the transfer of the principal amount fixed at $162.2 million upon maturity in exchange for NOK 1,000 million (see Note 15).

As of June 30, 2014, the Company had 17 U.S. Dollar-denominated term loans outstanding, which totaled $3.0 billion (December 31, 2013 – $2.5 billion). Certain of the term loans with a total outstanding principal balance of $159.0 million as at June 30, 2014 (December 31, 2013 – $176.3 million) bear interest at a weighted-average fixed rate of 5.2% (December 31, 2013 – 5.2%). Interest payments on the remaining term loans are based on LIBOR plus a margin. At June 30, 2014 and December 31, 2013, the margins ranged between 0.3% and 3.25%. At June 30, 2014 and December 31, 2013, the three-month LIBOR was 0.23% and 0.25%, respectively. The term loan payments are made in quarterly or semi-annual payments commencing three or six months after delivery of each newbuilding vessel financed thereby, and 16 of the term loans have balloon or bullet repayments due at maturity. The term loans are collateralized by first-priority mortgages on 33 (December 31, 2013 – 35) of the Company’s vessels, together with certain other security. In addition, at June 30, 2014, all but $84.1 million (December 31, 2013 – $94.4 million) of the outstanding term loans were guaranteed by Teekay or its subsidiaries.

During May 2014, Teekay Offshore issued $300 million in senior unsecured bonds that mature in July 2019 in the US bond market. As of June 30, 2014, the carrying amount of the bonds was $300.0 million. The bonds were listed on the New York Stock Exchange in June 2014. The interest payments on the bonds are fixed at a rate of 6.0%.

During 2013, Teekay Offshore had outstanding $171.1 million of ten-year senior unsecured bonds that mature in December 2023 and were issued in the second half of 2013 in a U.S. private placement to finance the Bossa Nova Spirit and the Sertanejo Spirit shuttle tankers. The bonds accrue interest at a fixed rate of 4.96%. The bonds are collateralized by first-priority mortgages on the two vessels to which the bonds relate, together with other related security.

The Company has two Euro-denominated term loans outstanding, which, as at June 30, 2014, totaled 241.7 million Euros ($330.8 million) (December 31, 2013 – 247.6 million Euros ($340.2 million)). The Company is repaying the loans with funds generated by two Euro-denominated, long-term time-charter contracts. Interest payments on the loans are based on EURIBOR plus a margin. At June 30, 2014 and December 31, 2013, the margins ranged between 0.6% and 2.25% and the one-month EURIBOR at June 30, 2014 was 0.1% (December 31, 2013 – 0.2%). The Euro-denominated term loans reduce in monthly payments with varying maturities through 2023, are collateralized by first-priority mortgages on two of the Company’s vessels, together with certain other security, and are guaranteed by a subsidiary of Teekay.

Both Euro-denominated term loans and NOK-denominated bonds are revalued at the end of each period using the then-prevailing U.S. Dollar exchange rate. Due primarily to the revaluation of the Company’s NOK-denominated bonds, the Company’s Euro-denominated term loans, capital leases and restricted cash, and the change in the valuation of the Company’s cross currency swaps, the Company recognized foreign exchange gains of $2.0 million (2013 – $0.7 million) and $2.9 million (2013 – $2.9 million) during the three and six months ended June 30, 2014, respectively.

The Company has one U.S. Dollar-denominated loan outstanding owing to a joint venture partner, which, as at June 30, 2014, totaled $13.3 million (2013 – $13.3 million). Interest payments on the loan are based on a fixed interest rate of 4.84%. This loan is repayable on demand.

The weighted-average effective interest rate on the Company’s aggregate long-term debt as at June 30, 2014 was 3.0% (December 31, 2013 – 3.0%). This rate does not include the effect of the Company’s interest rate swap agreements (see Note 15).

Among other matters, the Company’s long-term debt agreements generally provide for maintenance of minimum consolidated financial covenants and five loan agreements require the maintenance of vessel market value to loan ratios. As at June 30, 2014, these ratios ranged from 141.0% to 481.5% compared to their minimum required ratios of 105% to 120%, respectively. The vessel values used in these ratios are the appraised values prepared by the Company based on second hand sale and purchase market data. A further delay in the recovery of the conventional tanker market and a weakening of the LNG/LPG carrier market could negatively affect the ratios. Certain loan agreements require that a minimum level of free cash be maintained and as at June 30, 2014 and December 31, 2013, this amount was $100.0 million. Most of the loan agreements also require that the Company maintain an aggregate minimum level of free liquidity and undrawn revolving credit lines with at least six months to maturity, in amounts ranging from 5% to 7.5% of total debt. As at June 30, 2014, this aggregate amount was $377.1 million (December 31, 2013 - $344.9 million). As at June 30, 2014, the Company was in compliance with all covenants required by its credit facilities and other long-term debt.

The aggregate annual long-term debt principal repayments required to be made by the Company subsequent to June 30, 2014, are $664.2 million (remainder of 2014), $582.2 million (2015), $796.0 million (2016), $1.1 billion (2017), $1.3 billion (2018) and $2.3 billion (thereafter).

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Commitments and Contingencies - Additional Information - Vessels Under Construction (Detail) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Long-term Purchase Commitment [Line Items]
Estimated purchase price	$ 1,500,000,000
Payments made towards commitments for construction of certain carriers and tankers	1,403,850,000	796,324,000
Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Payments made towards commitments for construction of certain carriers and tankers	221,400,000
Carrying value of completed units not yet in service	1,200,000,000
Capitalized interest and other miscellaneous construction costs	4,600,000
Estimated remaining payments required to be made under newbuilding contract in 2014	131,200,000
Estimated remaining payments required to be made under newbuilding contract in 2015	271,200,000
Estimated remaining payments required to be made under newbuilding contract in 2016	445,800,000
Estimated remaining payments required to be made under newbuilding contract in 2017	$ 399,000,000
Newbuildings [Member] | Liquefied Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	5
Newbuildings [Member] | 2016 [Member] | Liquefied Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	2
Newbuildings [Member] | 2016 [Member] | Towage Segment [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	4
Newbuildings [Member] | 2016 [Member] | Fso Segment [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1
Newbuildings [Member] | 2017 [Member] | Liquefied Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	3
Newbuildings [Member] | 2014 [Member] | Fso Segment [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1

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Derivative Instruments and Hedging Activities - Effect of Loss on Cross Currency Swaps (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized (losses) gains	$ (2,046)	$ 678	$ (2,940)	$ 2,867
Cross Currency Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized (losses) gains	(24,947)	(15,896)	(11,770)	(45,988)
Cross Currency Interest Rate Contract [Member] | Realized gain on partial termination of cross currency swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized (losses) gains				6,800
Cross Currency Interest Rate Contract [Member] | Realized (losses) gains [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized (losses) gains	(144)	503	(289)	1,565
Cross Currency Interest Rate Contract [Member] | Unrealized losses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized (losses) gains	$ (24,803)	$ (16,399)	$ (11,481)	$ (54,353)

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Commitments and Contingencies - Additional Information - Navion Hispania (Detail) (Teekay Offshore [Member])	1 Months Ended		3 Months Ended				6 Months Ended
	Nov. 30, 2007 USD ($)	Nov. 30, 2007 NOK	Dec. 31, 2013 USD ($)	Dec. 31, 2013 NOK	Jun. 30, 2013 USD ($)	Jun. 30, 2013 NOK	Jun. 30, 2014 USD ($)
Long-term Purchase Commitment [Line Items]
Plaintiffs sought for damages	$ 34,700,000	213,000,000				213,000,000
Loss contingency, interest accrual				4,000,000		66,000,000
Loss contingency, legal costs accrual				3,400,000		11,000,000
Liability recognized in legal costs			35,300,000	216,400,000.0	47,300,000	290,000,000.0	0
Total liability			47,900,000	294,000,000.0
Accounts receivable				213,000,000

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Capital Stock - Additional Information (Detail) (USD $) In Millions, except Share data, unless otherwise specified	6 Months Ended		6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Restricted stock units [Member]	Jun. 30, 2014 Performance shares [Member] Times	Jun. 30, 2014 Restricted Stock Awards [Member]	Jun. 30, 2014 Stock Option [Member]	Jun. 30, 2014 Minimum [Member] Performance shares [Member]	Jun. 30, 2014 Maximum [Member] Performance shares [Member]	Dec. 31, 2008 Common Stock [Member] Share Repurchase Program Two Thousand And Eight [Member]	Jun. 30, 2014 Common Stock [Member] Two Thousand Fourteen Repurchase Authorization [Member]
Class of Stock [Line Items]
Preferred Stock, share authorized	25,000,000	25,000,000
Preferred Stock, par value	$ 1	$ 1
Common stock, share authorized	725,000,000	725,000,000
Common stock, par value	$ 0.001	$ 0.001
Number of common shares issued related to the exercise of share based compensation during the period	1,500,000
Preferred stock, share issued	0
Common stock repurchase, amount authorized									$ 200.0	$ 162.3
Common stock repurchase, total remaining amount authorized										37.7
Repurchase of common stock, shares										5,200,000
Stock options granted	15,243
Stock option per share value	$ 56.76
Options Granted			81,388	50,689	18,230
Fair value of granted stock			$ 4.6	$ 3.4	$ 1.0
Stock option, term						10 years
Vesting period of stock option, restricted stock units and performance shares			3 years			3 years	2 years	3 years
Value of each restricted stock unit and performance share unit in shares			Each restricted stock unit, restricted stock award and performance share is equal in value to one share of the Company's common stock plus reinvested dividends from the grant date to the vesting date.
Number of times performance units to vest, Minimum				0
Weighted-average grant-date fair value of options granted						$ 11.50
Expected volatility used in computing fair value of options granted						34.70%
Expected life used in computing fair value of options granted, years						5 years
Dividend yield used in computing fair value of options granted						4.40%
Risk-free interest rate used in computing fair value of options granted						1.60%
Estimated forfeiture rate used in computing fair value of options granted						12.00%

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Subsequent Events - Additional Information - Public Offering (Detail) (USD $) Share data in Millions, except Per Share data, unless otherwise specified					1 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Newbuildings [Member]	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member]	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] Common Stock [Member]	Jul. 31, 2014 Subsequent Events [Member] Teekay LNG [Member] Common Stock [Member] Over-allotment option [Member]	Jul. 31, 2014 Subsequent Events [Member] Newbuildings [Member] Teekay LNG [Member]
Subsequent Event [Line Items]
Issuance of common units in public offering					3.1	0.3
Issuance of common units in public offering, Per unit					$ 44.65
Proceeds from public offering					$ 140,800,000
Percentage of general partner capital					2.00%
Net proceeds from public offering					140,500,000
First installment payment	$ 1,403,850,000	$ 796,324,000	$ 221,400,000				$ 95,000,000
Ownership percentage after public offering				34.00%

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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Investments, All Other Investments [Abstract]

Fair Value of Financial Instruments and Other Non-Financial Assets

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 fair value on a recurring basis.

				June 30, 2014						December 31, 2013
	Fair Value Hierarchy Level			Carrying Amount Asset (Liability) $			Fair Value Asset (Liability) $			Carrying Amount Asset (Liability) $			Fair Value Asset (Liability) $
Recurring
Cash and cash equivalents, restricted cash, and marketable securities		Level 1			1,254,309			1,254,309			1,119,966			1,119,966
Derivative instruments (note 15)
Interest rate swap agreements - assets		Level 2			122,506			122,506			91,415			91,415
Interest rate swap agreements - liabilities		Level 2			(506,314	)		(506,314	)		(410,470	)		(410,470	)
Cross currency interest swap agreement		Level 2			(63,741	)		(63,741	)		(52,219	)		(52,219	)
Foreign currency contracts		Level 2			(354	)		(354	)		(1,480	)		(1,480	)
Stock purchase warrants (notes 4b and 15)		Level 3			8,051			8,051			—			—
Non-recurring
Vessels and equipment		Level 2			—			—			17,250			17,250
Assets held for sale (1)		Level 2			—			—			176,247			176,247
Other
Investment in term loans		Level 3			—			—			211,579			209,570
Loans to equity accounted investees and joint venture partners - Current		Level 3			21,634			21,634			37,019			37,019
Loans to equity accounted investees and joint venture partners - Long-term			(2)		133,526				(2)		132,229				(2)
Liabilities associated with assets held for sale (1)		Level 2			—			—			(168,007	)		(168,007	)
Long-term receivable included in other assets		Level 2			16,452			16,452			—			—
Long-term debt - public (note 8)		Level 1			(1,766,576	)		(1,873,925	)		(1,313,358	)		(1,376,829	)
Long-term debt - non-public (note 8)		Level 2			(4,965,791	)		(4,830,135	)		(4,796,112	)		(4,582,274	)

(1) The fair value of the Company’s assets held for sale and liabilities associated with assets held for sale include vessels held for sale, long-term debt and other working capital balances.

(2) In these consolidated financial statements, the Company’s loans to and equity investments in equity accounted investees form the aggregate carrying value of the Company’s interests in entities accounted for by the equity method. In addition, the loans to joint venture partners together with the joint venture partner’s equity investment in joint ventures form the net aggregate carrying value of the Company’s interest in the joint ventures. The fair value of the individual components of such aggregate interests is not determinable.

Changes in Fair Value Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3)

Changes in fair value during the six months ended June 30, 2014 and 2013 for the Company’s derivative instrument, TIL stock purchase warrants, which are described below and are measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014		2013
	$			$		$		$
Fair value at the beginning of the period		11,714			—		—		—
Fair value on issuance		—			—		6,840		—
Unrealized (loss) gain included in earnings		(3,663	)		—		1,211		—
Fair value at the end of the period		8,051			—		8,051		—

Summary of Financing Receivables

The following table contains a summary of the Company’s financing receivables by type of borrower and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis.

Class of Financing Receivable	Credit Quality Indicator	Grade	June 30, 2014 $		December 31, 2013 $
Direct financing leases	Payment activity	Performing		774,026		727,262
Other loan receivables
Investment in term loans and interest receivable	Collateral	Non-Performing(1)		—		211,579
Loans to equity accounted investees and joint venture partners(2)	Other internal metrics	Performing		155,160		169,248
Long-term receivable included in other assets	Payment activity	Performing		50,136		31,634
				979,322		1,139,723

(1) On March 21, 2014, Teekay and Teekay Tankers took ownership of the vessels held as collateral in satisfaction of the loans and accrued interest.

(2) The Company’s subsidiary Teekay LNG owns a 99% interest in Teekay Tangguh, which owns a 70% interest in the Teekay Tangguh Joint Venture. During the year ended December 31, 2012, the parent company of Teekay LNG‘s joint venture partner, BLT, suspended trading on the Jakarta Stock Exchange and entered into a court-supervised debt restructuring in Indonesia. The remaining loans to joint venture partner, BLT LNG Tangguh Corporation, totaling $10.3 million as at June 30, 2014 (December 31, 2013 - $28.5 million) are considered to be collectible given a signed settlement Agreement between the Company and BLT LNG Tangguh Corporation regarding repayment terms. In February 2014, the Teekay Tangguh Joint Venture declared dividends of $69.5 million, of which $14.4 million was used to offset the advances made to BLT LNG Tangguh Corporation and P.T. Berlian Laju Tanker and $6.5 million was repaid to Teekay by BLT LNG Tangguh Corporation. In addition, $1.0 million was paid to Teekay by BLT as part of the settlement agreement.

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Vessel Charters - Schedules of Estimated Minimum Hire Payments (Parenthetical) (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Capital Leases and Operating and Direct Finance Leases [Line Items]
Restricted cash on deposit	$ 499,108,000	$ 497,984,000
Teekay Nakilat Corporation [Member]
Capital Leases and Operating and Direct Finance Leases [Line Items]
Restricted cash on deposit	475,800,000	475,600,000
Certain Term Loans and Other Obligations [Member]
Capital Leases and Operating and Direct Finance Leases [Line Items]
Restricted cash deposits related to certain term loans and other obligations	$ 27,300,000	$ 27,100,000

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Other (Loss) Income

6 Months Ended

Jun. 30, 2014

Other Income and Expenses [Abstract]

Other (Loss) Income

13. Other (Loss) Income

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	$			$			$			$
TIL stock purchase warrants received		—			—			6,839			—
Loss on bond repurchase		—			—			—			(1,759	)
Volatile organic compound emission plant lease income		(166	)		39			(67	)		197
Impairment of marketable securities		—			(2,062	)		—			(2,062	)
Miscellaneous (loss) income		(568	)		637			745			7,480
Other (loss) income		(734	)		(1,386	)		7,517			3,856

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Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2014

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

18. Supplemental Cash Flow Information

a) In March 2014, the Company took ownership of three VLCCs, which were collateral for all amounts owing under the investment in term loans, and the investment in term loans was concurrently discharged. The VLCCs had an estimated aggregate fair value of $222.0 million on this date, which approximated all the amounts owing under the investment in term loans. During the first quarter of 2014, second-hand vessel values for VLCCs increased and, as a result, the Company recognized $15.2 million of interest income owing under the investment in term loans in the first quarter of 2014. The assumption of ownership of the VLCCs and concurrent discharge of the loans has been treated as a non-cash transaction in the Company’s consolidated statement of cash flows.

b) As described in Note 4d, Teekay LNG acquired BG’s ownership interest in the BG Joint Ventures. As compensation, Teekay LNG assumed BG’s obligation (net of an agreement by BG to pay Teekay LNG approximately $20.3 million) to provide shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates pursuant to a ship construction support agreement. The fair value of the assumed obligation of approximately $30.2 million was used to offset the purchase price and Teekay LNG’s receivable from BG and was treated as a non-cash transaction in the consolidated statement of cash flows.

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Vessel Charters - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Teekay Tangguh Borrower LLC [Member]
Property Subject to or Available for Operating Lease [Line Items]
Ownership interest held by partnership	99.00%
Teekay Tangguh Joint Venture [Member]
Property Subject to or Available for Operating Lease [Line Items]
Ownership interest held by partnership	69.00%
Number of vessels	2
Teekay BLT Corporation [Member] | Teekay Tangguh Joint Venture [Member]
Property Subject to or Available for Operating Lease [Line Items]
Percentage of ownership interest held by Teekay Tangguh Borrower LLC in Teekay BLT Corporation	70.00%

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Segment Reporting - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2014 Segment	Jun. 30, 2013 Segment	Jun. 30, 2014 Segment	Jun. 30, 2013 Segment
Segment Reporting [Abstract]
Number of reportable segments	4	4	4	4

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Unaudited Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Accounts receivable, non-trade	$ 100,009	$ 109,114
Accounts receivable, related party balance	15,579	16,371
Accumulated depreciation on vessels and equipment	2,324,470	2,135,780
Accumulated amortization on vessels under capital lease	159,701	152,020
Amounts due to joint venture partners	$ 13,282	$ 13,282
Common stock, par value	$ 0.001	$ 0.001
Common stock, share authorized	725,000,000	725,000,000
Common stock, share issued	73,038,452	71,528,599
Common stock, share outstanding	72,239,252	70,729,399
Minimum [Member]
Range of interest	0.00%	0.00%
Maximum [Member]
Range of interest	8.00%	8.00%

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Net (Loss) Income Per Share - Schedule of Net (Loss) Income Per Share (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]
Net (loss) income attributable to stockholders of Teekay Corporation	$ (42,987)	$ 11,367	$ (43,475)	$ 5,231
Weighted average number of common shares	72,036,526	70,393,531	71,687,549	70,142,301
Dilutive effect of stock-based compensation		921,098		1,000,062
Common stock and common stock equivalents	72,036,526	71,314,629	71,687,549	71,142,363
(Loss) income per common share:
Basic	$ (0.60)	$ 0.16	$ (0.61)	$ 0.07
Diluted	$ (0.60)	$ 0.16	$ (0.61)	$ 0.07

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Accounting Pronouncements Not Yet Adopted

6 Months Ended

Jun. 30, 2014

Accounting Changes and Error Corrections [Abstract]

Accounting Pronouncements Not Yet Adopted

2. Accounting Pronouncements Not Yet Adopted

In May 2014, the Financial Accounting Standards Board (or FASB) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, (or ASU 2014-09). ASU 2014-09 will require companies to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires companies to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation is satisfied. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2016 and shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. Early adoption is not permitted. The Company is evaluating the effect of adopting this new accounting guidance.

In April 2014, the FASB issued Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (or ASU 2014-08) which raises the threshold for disposals to qualify as discontinued operations. A discontinued operation is defined as: (i) a component of an entity or group of components that has been disposed of or classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results; or (ii) an acquired business that is classified as held for sale on the acquisition date. ASU 2014-08 also requires additional disclosures regarding discontinued operations, as well as material disposals that do not meet the definition of discontinued operations. ASU 2014-08 is effective for fiscal years beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in the financial statements previously issued or available for issuance. The impact, if any, of adopting ASU 2014-08 on the Company’s financial statements will depend on the occurrence and nature of disposals that occur after ASU 2014-08 is adopted.

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Long-Term Debt - Additional Information - NOK Bonds (Detail)		6 Months Ended		6 Months Ended
	Jun. 30, 2014 Teekay Offshore, Teekay LNG and Teekay [Member] USD ($)	Jun. 30, 2014 Teekay Offshore, Teekay LNG and Teekay [Member] Norwegian Kroner-denominated bonds due between October 2015 and September 2018 [Member]	Dec. 31, 2013 Teekay Offshore, Teekay LNG and Teekay [Member] Norwegian Kroner-denominated bonds due between October 2015 and September 2018 [Member] NOK	Jun. 30, 2014 Teekay Offshore, Teekay LNG and Teekay [Member] Minimum [Member]	Jun. 30, 2014 Teekay Offshore, Teekay LNG and Teekay [Member] Maximum [Member]	Jun. 30, 2014 Teekay Offshore [Member] Norwegian Kroner Bond Mature in January 2019 [Member] USD ($)	Jan. 31, 2014 Teekay Offshore [Member] Norwegian Kroner Bond Mature in January 2019 [Member] NOK	Jun. 30, 2014 Teekay Offshore [Member] Norwegian Kroner Bond Mature in January 2019 [Member] Derivatives not designated as a cash flow hedge [Member] Foreign currency contracts [Member] USD ($)
Debt Instrument [Line Items]
Senior unsecured bonds issued			4,200,000,000				1,000,000,000
Reference rate on variable rate of the debt instrument		NIBOR				NIBOR
Debt instrument, carrying amount	684,800,000					163,100,000
Percentage of margin				4.00%	5.75%	4.25%
Debt instrument interest				4.80%	7.49%	6.28%
Debt instrument transfer of principal amount	$ 732,400,000							$ 162,200,000

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Derivative Instruments and Hedging Activities - Additional Information (Detail) (USD $) Share data in Millions, except Per Share data, unless otherwise specified	6 Months Ended	1 Months Ended			1 Months Ended
	Jun. 30, 2014	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Warrant [Member]	Jun. 30, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Warrant [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Maximum [Member] Warrant [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Minimum [Member] Tranche One [Member] Warrant [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Minimum [Member] Tranche Two [Member] Warrant [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Minimum [Member] Tranche Three [Member] Warrant [Member]	Jan. 31, 2014 Teekay Tankers [Member] Tanker Investments Limited [Member] Minimum [Member] Tranche Four [Member] Warrant [Member]	Jun. 30, 2014 Interest Rate Swaps And Cross Currency Swaps Agreement [Member]
Derivative [Line Items]
Purchase of common stock		5.0
Equity method investment, ownership interest		20.00%
Issuance of equity private placement		$ 250,000,000
Equity method investment		50,000,000
Number of shares available through exercise of stock purchase warrant					1.5
Fixed price of stock purchase warrants, per share			$ 10
Fair market value of the shares						12.50	15.00	17.50	20.00
Consecutive trading days			10 days
Fair value of stock purchase warrants	6,839,000		6,839,000
Fair value of stock purchase warrants				8,051,000
Fair value asset amount of interest rate swaps and cross currency swaps										122,000,000
Fair value liability amount of interest rate swaps and cross currency swaps										$ 411,200,000

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Commitments and Contingencies - Additional Information - Redeemable Non-Controlling Interest (Detail) (Teekay Offshore [Member], USD $) In Thousands, unless otherwise specified		12 Months Ended
	Jun. 30, 2014	Dec. 31, 2010 TOTAL EQUITY Non-controlling Interests [Member]
Redeemable Noncontrolling Interest [Line Items]
Value of shuttle tanker contributed by unrelated party in exchange of equity interest in subsidiary		$ 35,000
Minority interest ownership percentage	29.20%	67.00%
Percentage of non-controlling interest owner's share		33.00%

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Subsequent Events

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

a) In July 2014, Teekay LNG, through a new 50/50 joint venture with China LNG, has finalized shipbuilding contracts for six internationally-flagged icebreaker LNG carriers for a project, located on the Yamal Peninsula in Northern Russia (or the Yamal LNG Project). The Yamal LNG Project is a joint venture between Russia-based Novatek OAO (60%), France-based Total S.A. (20%) and China-based China National Petroleum Corporation (or CNPC) (20%), and will consist of three LNG trains with a total expected capacity of 16.5 million metric tons of LNG per annum and is currently scheduled to start-up in early-2018. The joint venture between Teekay LNG and China LNG will provide the six 172,000-cubic meter ARC7 LNG carrier newbuildings to be constructed by Daewoo Shipbuilding & Marine Engineering Co., Ltd. (or DSME), of South Korea, for a total fully built-up cost of approximately $2.1 billion. The vessels, which will be constructed with maximum 2.1 meter icebreaking capabilities in both the forward and reverse directions, are scheduled to deliver at various times between the first quarter of 2018 and first quarter of 2020. Upon their deliveries, the six LNG carriers will each operate under fixed-rate time-charter contracts with Yamal Trade Pte. Ltd. until December 31, 2045, plus extension options.

b) In July 2014, Teekay LNG completed a public offering of 3.1 million common units (including 0.3 million common units issued upon exercise of the underwriters’ over-allotment option) at the price of $44.65 per unit, for gross proceeds of approximately $140.8 million (including a 2% proportionate capital contribution by Teekay LNG’s general partner). Teekay LNG used the net proceeds from the offering of approximately $140.5 million to prepay a portion of its outstanding debt under two of its revolving credit facilities, to fund the equity portion of its first installment payment to approximately $95 million for the six newbuilding LNG carriers ordered by Teekay LNG’s 50/50 joint venture with China LNG for the Yamal LNG Project and to fund a portion of its M-type, Electronically Controlled, Gas Injection (or MEGI) newbuildings’ shipyard installments. As a result of this public offering, Teekay’s ownership of Teekay LNG was reduced to 34.0% (including the Company’s 2% general partner interest). Teekay maintains control of Teekay LNG by virtue of its control of the general partner and will continue to consolidate the subsidiary.

c) In August 2014, Teekay Offshore acquired 100% of the outstanding shares of Logitel Offshore Holdings AS (Logitel), a Norway-based company focused on the high-end floating accommodation market. The purchase price for the shares of Logitel consisted of $4.0 million in cash due on closing and a potential additional cash amount of $27.6 million, subject to reductions of some or all of this potential additional amount if certain performance criteria, primarily relating to the construction of the three floating accommodation units (or FAUs) ordered from the COSCO (Nantong) Shipyard (or COSCO) in China, are not met. Two of the FAUs are currently under construction and in August 2014, Teekay Offshore exercised one of its existing six options with COSCO to construct a third FAU. Prior to the acquisition, Logitel secured a three-year fixed-rate charter contract, plus extension options, with Petroleo Brasileiro SA (or Petrobras) in Brazil for the first FAU which is scheduled to deliver in the first quarter of 2015. Teekay Offshore expects to secure charter contracts for the remaining two newbuilding FAUs prior to their respective scheduled deliveries in the fourth quarter of 2015 and the third quarter of 2016.

Teekay Offshore is committed to acquire the three FAUs ordered from COSCO for a total cost of approximately $534.0 million, including estimated site supervision costs and license fees to be paid to Sevan Marine ASA (or Sevan) to allow for use of its cylindrical hull design in these FAUs. As at the date of acquisition, payments made towards these commitments totaled $18.0 million and the remaining payments required to be made under these newbuilding contracts were $8.8 million (balance of 2014), $341.0 million (2015) and $166.2 million (2016). The amount of the license fees, in aggregate for the three FAUs ordered from COSCO, is $22.2 million, subject to reductions of some or all of this amount if certain performance criteria, primarily relating to the construction of the three FAUs ordered from COSCO, is not met. The amount of site supervision costs are based on hours spent at agreed upon hourly rates as per Teekay Offshore’s agreement with Sevan.

Teekay Offshore intends to finance the initial newbuilding payments through its existing liquidity and expects to secure long-term debt financing for the units prior to their scheduled deliveries. Prior to the acquisition, financing for $60.0 million of costs incurred by Logitel relating to the acquisition of two partially completed hulls from Sevan and the subsequent construction installments to COSCO were provided by a bond agreement between Logitel and Sevan, Teekay Offshore has assumed Logitel’s obligations under the bond agreement as part of this acquisition. The bond is non-interest bearing and is repayable in amounts of $10.0 million within six months of delivery of each of the next six FAUs, including the three ordered from COSCO. The bonds are redeemable at par at any time. The bonds are convertible by Sevan. The conversion option is exercisable if the fourth of six options with COSCO is not exercised by its option expiry date on November 30, 2016. In this case, Sevan has a one-time option to receive the remaining two options with COSCO in exchange for the extinguishment of the remaining amount owing on the bond agreement. If the one-time option is not exercised by Sevan, any remaining amount owing on the bond agreement will be forgiven when there is a continuous three-year period, from the date of the latest delivery of a newbuilding FAU based on the Sevan cylindrical hull design, where no such Seven design FAUs are ordered.

d) On August 1, 2014, Teekay Tankers acquired from Teekay a 50% interest in its conventional tanker commercial management and technical management operations, including the direct ownership in three commercially managed tanker pools, which generate fee income from commercially managing currently a fleet of approximately 89 vessels and technically managing currently a fleet of approximately 51 vessels, including vessels owned by Teekay Tankers. The purchase price for this acquisition was approximately $15 million, paid in Class B common shares of Teekay Tankers at a price of $3.70 per share. Teekay Tankers will account for its interest in the conventional tanker commercial management and technical management operations by the equity method.

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Financial Instruments - Summary of Financing Receivables (Parenthetical) (Detail) (USD $) In Millions, unless otherwise specified	1 Months Ended
	Feb. 28, 2014	Jun. 30, 2014	Dec. 31, 2013
Teekay Tangguh Borrower LLC [Member]
Financing Receivable, Recorded Investment [Line Items]
Ownership percentage		99.00%
Teekay Tangguh Joint Venture [Member]
Financing Receivable, Recorded Investment [Line Items]
Dividends declared	$ 69.5
Amount offset to total advances	14.4
Teekay Tangguh Joint Venture [Member] | Teekay Tangguh Borrower LLC [Member]
Financing Receivable, Recorded Investment [Line Items]
Ownership percentage		70.00%
Teekay BLT Corporation [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans to equity accounted investees and joint venture partners carrying value		10.3	28.5
Advances repaid	6.5
Additional amount repaid as part of settlement agreement	$ 1.0

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Income Tax Expense (Tables)

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Components of Provision for Income Tax Expense

The components of the provision for income tax expense are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	$			$			$			$
Current		(3,398	)		(1,943	)		(6,563	)		(4,057	)
Deferred		205			70			572			(316	)
Income tax expense		(3,193	)		(1,873	)		(5,991	)		(4,373	)

Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities

The following reflects the changes in the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from December 31, 2013 to June 30, 2014:

Balance of unrecognized tax benefits as at January 1, 2014	$	20,304
Increase for positions related to the current period		3,822
Decrease related to statute of limitations		(972	)
Balance of unrecognized tax benefits as at June 30, 2014	$	23,154

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Restructuring Charges

6 Months Ended

Jun. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring Charges

12. Restructuring Charges

During the three and six months ended June 30, 2014, the Company recorded restructuring (reversal) charges of $(0.2) million ($1.8 million – 2013) and $0.4 million ($3.8 million – 2013), respectively. The restructuring charges in 2014 relate to the termination of the employment of certain seafarers from the reflagging of one shuttle tanker which commenced in January 2014 and was completed in March 2014 and the reversal of an accrual for costs related to the reorganization of the Company’s marine operations. The restructuring charges in 2013 primarily relate to reorganization of the Company’s marine operations intended to create better alignment with its conventional tanker business unit and its three publicly-listed subsidiaries and a lower cost organization. The Company does not expect to incur further restructuring charges associated with this reorganization.

At June 30, 2014 and December 31, 2013, $1.6 million and $4.9 million, respectively, of restructuring liabilities were recorded in accrued liabilities on the consolidated balance sheets.