Segment Reporting

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company has four primary lines of business: offshore logistics (shuttle tankers, the HiLoad DP unit, FSO units, UMS and long-distance towing and offshore installation vessels), offshore production (FPSO units), liquefied gas carriers (LNG and LPG carriers) and conventional tankers. The Company manages these businesses for the benefit of all stakeholders. The Company allocates capital and assesses performance both from the separate perspectives of its three publicly-traded subsidiaries Teekay Offshore, Teekay LNG, and Teekay Tankers (together, the Daughter Companies) and Teekay and its remaining subsidiaries (or Teekay Parent), as well as from the perspective of the Company's lines of business. The primary focus of the Company’s organizational structure, internal reporting and allocation of resources by the chief operating decision maker, is on the Daughter Companies and Teekay Parent and its segments are presented accordingly. The Company incorporates the primary lines of business within its segments, as in certain cases there is more than oneline of business in each Daughter Company and the Company believes this information allows a better understanding of the Company’s performance and prospects for future net cash flows.

The following table includes results for the Company’s revenue and income from vessel operations by segment for the periods presented in these financial statements.

	Revenues (1)						Income from Vessel Operations (2)
	Year Ended December 31,						Year Ended December 31,
	2016		2015		2014		2016		2015		2014
Teekay Offshore
Offshore Logistics	636,421		667,629		631,455		86,099		108,119		146,756
Offshore Production	495,223		531,554		354,518		140,264		165,152		95,991
Conventional Tankers	20,746		30,230		33,566		4,490		10,128		13,471
	1,152,390		1,229,413		1,019,539		230,853		283,399		256,218
Teekay LNG
Liquefied Gas Carriers	336,530		305,056		307,426		174,600		151,200		156,868
Conventional Tankers	59,914		92,935		95,502		(21,419	)	30,172		26,955
	396,444		397,991		402,928		153,181		181,372		183,823
Teekay Tankers (3)
Conventional Tankers	526,896		504,347		235,593		86,456		184,083		58,271
Teekay Parent
Offshore Production	231,435		277,842		259,945		(48,310	)	(40,227	)	(78,804	)
Conventional Tankers	32,967		65,777		94,376		(15,967	)	4,984		(12,407	)
Other	76,111		75,547		95,791		(32,219	)	5,015		17,488
	340,513		419,166		450,112		(96,496	)	(30,228	)	(73,723	)
Eliminations and other	(87,674	)	(100,535	)	(114,252	)	10,296		6,506		2,570
	2,328,569		2,450,382		1,993,920		384,290		625,132		427,159

(1) Certain vessels are chartered between the Daughter Companies and Teekay Parent. The amounts in the table below represent revenue earned by each segment from other segments within the group. Such intersegment revenue for the year ended 2016, 2015 and 2014 is as follows:

	Year Ended December 31,
	2016	2015	2014
Teekay Offshore - Offshore Logistics	43,104	38,734	34,603
Teekay Offshore - Conventional Tankers	6,410	29,259	32,411
Teekay LNG - Liquefied Gas Carriers	37,336	35,887	37,596
Teekay Tankers - Conventional Tankers	5,404	1,380	13,707
Teekay Parent - Conventional Tankers	—	3,080	—
	92,254	108,340	118,317

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

(3) Financial information for Teekay Tankers includes operations of the Explorer Spirit, formerly known as the SPT Explorer, and Navigator Spirit from December 18, 2015, the date Teekay Tankers acquired the vessels from Teekay Offshore.

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

	Year Ended December 31,	Year Ended December 31,	Year Ended December 31,
(U.S. dollars in millions)	2016	2015	2014
Royal Dutch Shell Plc (1) (2)	$429.9 or 19%	(5)	(5)
BG Group (1) (2)	(2)	$263.4 or 11%	(5)
Petroleo Brasileiro SA (3)	$223.7 or 10%	$231.8 or 10%	$248.2 or 12%
Statoil ASA (4)	(5)	(5)	$239.8 or 12%

(1) Teekay Offshore - Offshore Logistics and Offshore Production.

(2) In February 2016, Royal Dutch Shell Plc acquired BG Group Plc and therefore includes revenues from both Royal Dutch Shell Plc and BG Group Plc for 2016.

(3) Teekay Offshore - Offshore Logistics and Offshore Production, Teekay Tankers - Conventional Tankers and Teekay Parent – Conventional Tankers

(4) Teekay Offshore - Offshore Logistics, Teekay Tankers—Conventional Tankers, Teekay Parent – Offshore Production and Teekay Parent – Conventional Tankers

(5) Less than 10%

The following table includes other income statement items by segment for the periods presented in these financial statements. 

	Depreciation and Amortization						Asset Impairments, Loan Loss Recoveries, and Net (Loss) Gain on Sale of Vessels, Equipment and Other Operating Assets						Equity Income (Loss)
	Year Ended December 31,						Year Ended December 31,						Year Ended December 31,
	2016		2015		2014		2016		2015		2014		2016		2015		2014
Teekay Offshore
Offshore Logistics	(150,813	)	(130,102	)	(118,968	)	(40,079	)	(66,101	)	(1,638	)	—		—		—
Offshore Production	(149,198	)	(137,914	)	(72,905	)	—		—		—		17,933		7,672		10,341
Conventional Tankers	—		(6,583	)	(6,680	)	—		(3,897	)	—		—		—		—
	(300,011	)	(274,599	)	(198,553	)	(40,079	)	(69,998	)	(1,638	)	17,933		7,672		10,341
Teekay LNG
Liquefied Gas Carriers	(80,084	)	(71,323	)	(71,711	)	—		—		—		62,307		84,171		115,478
Conventional Tankers	(15,458	)	(20,930	)	(22,416	)	(38,976	)	—		—		—		—		—
	(95,542	)	(92,253	)	(94,127	)	(38,976	)	—		—		62,307		84,171		115,478
Teekay Tankers (1)
Conventional Tankers	(104,149	)	(71,429	)	(50,152	)	(20,594	)	771		9,955		13,101		14,411		5,228
Teekay Parent
Offshore Production	(70,855	)	(69,508	)	(78,630	)	(110	)	(948	)	3,456		(575	)	(12,196	)	(1,357	)
Conventional Tankers	(1,717	)	(2,852	)	(2,216	)	(12,487	)	—		(502	)	5,089		16,712		3,052
Other	449		451		774		—		—		—		(1,838	)	(1,101	)	(2,546	)
	(72,123	)	(71,909	)	(80,072	)	(12,597	)	(948	)	2,954		2,676		3,415		(851	)
Eliminations and other	—		690		—								(10,378	)	(6,798	)	(2,082	)
	(571,825	)	(509,500	)	(422,904	)	(112,246	)	(70,175	)	11,271		85,639		102,871		128,114

(1) Financial information for Teekay Tankers includes operations of the Explorer Spirit, formerly known as the SPT Explorer and Navigator Spirit from December 18, 2015, the date Teekay Tankers acquired the vessels from Teekay Offshore.

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

	December 31, 2016 $		December 31, 2015 $
Teekay Offshore - Offshore Logistics	2,677,784		2,591,489
Teekay Offshore - Offshore Production	2,672,100		2,717,193
Teekay Offshore - Conventional Tankers	4,818		63,900
Teekay LNG - Liquefied Gas Carriers	3,957,088		3,550,396
Teekay LNG - Conventional Tankers	193,553		360,527
Teekay Tankers - Conventional Tankers	1,864,317		2,073,059
Teekay Parent - Offshore Production	635,364		710,533
Teekay Parent - Conventional Tankers	55,937		142,236
Teekay Parent - Other	13,208		17,256
Cash and cash equivalents	567,994		678,392
Other assets not allocated	287,138		301,586
Eliminations	(114,549	)	(145,319	)
Consolidated total assets	12,814,752		13,061,248

The following table includes capital expenditures by segment for the periods presented in these financial statements.

	December 31, 2016 $	December 31, 2015 $
Teekay Offshore - Offshore Logistics	228,347	552,219
Teekay Offshore - Offshore Production	66,234	120,160
Teekay Offshore - Conventional Tankers	—	97
Teekay LNG - Liquefied Gas Carriers	344,924	191,642
Teekay LNG - Conventional Tankers	63	327
Teekay Tankers - Conventional Tankers	9,226	848,250
Teekay Parent - Offshore Production	—	57,778
Teekay Parent - Conventional Tankers	—	92
Teekay Parent - Other	88	199
	648,882	1,770,764