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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Instruments [Abstract]

Interest rate swap agreements


		Interest Rate Index		Principal Amount $				Fair Value / Carrying Amount of Assets (Liability) $				Weighted- Average Remaining Term (years)				Fixed Interest Rate (%)⁽¹⁾
LIBOR-Based Debt:
U.S. Dollar-denominated interest rate swaps⁽²⁾		LIBOR			423,748				(119,895	)			25.1				4.9
U.S. Dollar-denominated interest rate swaps⁽²⁾		LIBOR			209,812				(60,441	)			7.2				6.2
U.S. Dollar-denominated interest rate swaps		LIBOR			90,000				(18,183	)			6.7				4.9
U.S. Dollar-denominated interest rate swaps		LIBOR			100,000				(21,755	)			5.0				5.3
U.S. Dollar-denominated interest rate swaps⁽³⁾		LIBOR			218,750				(57,996	)			17.0				5.2
LIBOR-Based Restricted Cash Deposit:
U.S. Dollar-denominated interest rate swaps⁽²⁾		LIBOR			470,199				159,603				25.1				4.8
EURIBOR-Based Debt:
Euro-denominated interest rate swaps⁽⁴⁾		EURIBOR			348,905				(25,796	)			12.5				3.1

									(144,463	)

⁽¹⁾	Excludes the margins the Partnership pays on its drawn floating-rate debt, which, at December 31, 2011, ranged from 0.3% to 2.75%.

⁽²⁾	Principal amount reduces quarterly.

⁽³⁾	Principal amount reduces semi-annually.

⁽⁴⁾	Principal amount reduces monthly to 70.1 million Euros ($90.9 million) by the maturity dates of the swap agreements.

Location and fair value amounts of derivative instruments


		Accounts receivable				Current portion of derivative assets				Derivative assets				Accrued liabilities				Current portion of derivative liabilities				Derivative liabilities
As at December 31, 2011
Interest rate swap agreements			4,344				15,608				139,651				(11,448	)			(43,973	)			(248,645	)
Toledo Spirit time-charter derivative			—				—				—				—				—				(600	)

			4,344				15,608				139,651				(11,448	)			(43,973	)			(249,245	)

As at December 31, 2010
Interest rate swap agreements			4,587				16,758				45,525				(11,498	)			(50,603	)			(139,362	)
Toledo Spirit time-charter derivative			—				—				—				—				—				(10,000	)

			4,587				16,758				45,525				(11,498	)			(50,603	)			(149,362	)

Gains (losses) for derivative instruments not designated as hedging instruments


		Year Ended December 31,
		2011												2010												2009
		Realized gains (losses)				Unrealized gains (losses)				Total				Realized gains (losses)				Unrealized gains (losses)				Total				Realized gains (losses)				Unrealized gains (losses)				Total

Interest rate swap agreements			(62,660	)			(9,677	)			(72,337	)			(42,495	)			(34,906	)			(77,401	)			(36,222	)			(11,143	)			(47,365	)
Toledo Spirit time-charter derivative			(93	)			9,400				9,307				(1,919	)			600				(1,319	)			(940	)			7,355				6,415


			(62,753	)			(277	)			(63,030	)			(44,414	)			(34,306	)			(78,720	)			(37,162	)			(3,788	)			(40,950	)