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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting
3. Segment Reporting
The Company allocates capital and assesses performance from the separate perspectives of its two publicly-traded subsidiaries Teekay LNG and Teekay Tankers (together, the Daughter Entities), 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 Entities and Teekay Parent (the Legal Entity approach), and its segments are presented accordingly on this basis. The Company has three primary lines of business: (1) offshore production (FPSO units), (2) LNG and LPG carriers, and (3) conventional tankers. The Company manages these businesses for the benefit of all stakeholders. The Company incorporates the primary lines of business within its segments, as in certain cases there is more than one line of business in each Daughter Entity and the Company believes this information allows a better understanding of the Company’s performance and prospects for future net cash flows.
Subsequent to September 25, 2017 and prior to May 8, 2019, Teekay owned a 13.8% interest in the common units of Altera and a 49% interest in the general partner of Altera, and accounted for its interest in Altera using the equity method and presented such interest as a separate segment. On May 8, 2019, Teekay sold to Brookfield Business Partners L.P. (or Brookfield) all of the Company's remaining interests in Altera, which included the Company’s 49% general partner interest, common units, warrants, and an outstanding $25 million loan from the Company to Altera (or the 2019 Brookfield Transaction).
The following table includes the Company’s revenues and income (loss) from vessel operations by segment for the periods presented in these financial statements:
Revenues (1)
Income (loss) from Vessel Operations (2)
Year Ended December 31,Year Ended December 31,
202020192018202020192018
$$$$$$
Teekay LNG
Liquefied Gas Carriers591,103 594,514 478,439 226,093 300,520 169,918 
Conventional Tankers— 6,742 32,323 — (1,267)(21,319)
591,103 601,256 510,762 226,093 299,253 148,599 
Teekay Tankers
Conventional Tankers886,434 943,917 776,493 141,572 123,883 7,204 
Teekay Parent
Offshore Production108,952 210,816 261,736 (38,054)(208,167)22,958 
Other229,183 202,990 189,923 (15,032)(10,927)(14,442)
338,135 413,806 451,659 (53,086)(219,094)8,516 
Eliminations and other— (13,588)(10,426)— — — 
1,815,672 1,945,391 1,728,488 314,579 204,042 164,319 

(1)The amounts in the table below represent revenue earned by each segment from other segments within the group. Such intersegment revenue for the years ended 2020, 2019 and 2018 are as follows:
Year Ended December 31,
 202020192018
$$$
Teekay LNG – Liquefied Gas Carriers— 11,562 9,418 
Teekay Tankers – Conventional Tankers— 1,979 1,689 
— 13,541 11,107 
(2)Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).

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.
Year Ended December 31,
(U.S. dollars in millions)202020192018
BP Plc (1)
(2)
$227.6 or 12%
$195.0 or 11%
(1)Teekay LNG Segment — Liquefied Gas Carriers, Teekay Tankers Segment — Conventional Tankers, Teekay Parent Segment — Offshore Production, and Teekay Parent Segment — Conventional Tankers.
(2)Less than 10%.
The following table includes other income statement items by segment for the periods presented in these financial statements. 
Depreciation and AmortizationWrite-down and loss on sale
Equity Income (Loss)
Year Ended
December 31,		Year Ended
December 31,		Year Ended
December 31,
202020192018202020192018202020192018
$$$$$$$$$
Teekay LNG
Liquefied Gas Carriers(129,752)(136,069)(119,108)(51,000)14,349 (33,000)72,233 58,819 53,546 
Conventional Tankers— (696)(5,270)— (785)(20,863)— — — 
(129,752)(136,765)(124,378)(51,000)13,564 (53,863)72,233 58,819 53,546 
Teekay Tankers
Conventional Tankers(117,213)(124,002)(118,514)(69,446)(5,544)170 5,100 2,345 1,220 
Teekay Parent
Offshore Production(14,166)(29,710)(33,271)(70,692)(178,330)— — — 15,089 
Conventional Tankers— — — — — — — — (510)
Other— (195)(144)(9,100)— — — 127 (1,384)
(14,166)(29,905)(33,415)(79,792)(178,330)— — 127 13,195 
Altera (1)
— — — — — — — (75,814)(6,907)
(261,131)(290,672)(276,307)(200,238)(170,310)(53,693)77,333 (14,523)61,054 
(1) Prior to its sale in May 2019, the Company accounted for its investment in Altera's general partner and common units using the equity method, and recognized equity losses of $75.8 million and $6.9 million for the years ended December 31, 2019 and December 31, 2018, respectively. During the year ended December 31, 2019, the Company wrote-down the investment in Altera by $64.9 million (included in equity loss for the year ended December 31, 2019 in the table above) and recognized a loss on sale of $8.9 million.

A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:
December 31, 2020
$		December 31, 2019
$
Teekay LNG – Liquefied Gas Carriers4,647,242 5,249,465 
Teekay Tankers – Conventional Tankers1,743,013 2,140,652 
Teekay Parent – Offshore Production30,845 161,096 
Teekay Parent – Other60,002 80,455 
Cash and cash equivalents348,785 353,241 
Other assets not allocated132,425 102,701 
Eliminations(16,400)(14,746)
Consolidated total assets6,945,912 8,072,864 
 
The following table includes capital expenditures by segment for the periods presented in these financial statements.
December 31, 2020
$		December 31, 2019
$
Teekay LNG – Liquefied Gas Carriers10,482 96,357 
Teekay LNG – Conventional Tankers— 1,538 
Teekay Tankers – Conventional Tankers16,025 11,628 
26,507 109,523