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Leases and Restricted Cash (Tables) | 12 Months Ended
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Dec. 31, 2012
Capital Lease Obligations | Capital Lease Obligations
|  | December 31, 2012 $ |  |  | December 31, 2011 $ |
RasGas II LNG Carriers |  |  | 472,085 |  |  |  | 471,397 |
Suezmax Tankers |  |  | 165,489 |  |  |  | 175,650 |
Total |  |  | 637,574 |  |  |  | 647,047 |
Less current portion |  |  | 70,272 |  |  |  | 47,203 |
Total |  |  | 567,302 |  |  |  | 599,844 |
Commitment Under Capital Leases of RasGas II LNG Carriers and Suezmax Tankers | As at December 31, 2012, the commitments under these capital leases approximated $977.1 million, including imputed interest of $505.0 million, repayable as follows:
Year |  | Commitment |
2013 |  | $ | 24,000 |
2014 |  | $ | 24,000 |
2015 |  | $ | 24,000 |
2016 |  | $ | 24,000 |
2017 |  | $ | 24,000 |
Thereafter |  | $ | 857,128 |
As at December 31, 2012, the remaining commitments under these capital leases, including the purchase obligations, approximated $190.5 million, including imputed interest of $25.0 million, repayable during 2013 through 2018.
Year |  | Commitment |
2013 |  | $ | 80,791 |
2014 |  | $ | 36,000 |
2015 |  | $ | 7,790 |
2016 |  | $ | 7,672 |
2017 |  | $ | 30,953 |
Thereafter |  | $ | 27,296 |
Estimated Future Minimum Rental Payments to be Received and Paid Under the Lease Contracts | As at December 31, 2012, the total estimated future minimum rental payments to be received and paid under the lease contracts are as follows:
Year |  | Head Lease Receipts(1) |  |  | Sublease Payments(1)(2) |
2013 |  | $ | 28,843 |  |  | $ | 24,779 |
2014 |  | $ | 28,828 |  |  | $ | 24,779 |
2015 |  | $ | 22,188 |  |  | $ | 24,779 |
2016 |  | $ | 21,242 |  |  | $ | 24,779 |
2017 |  | $ | 21,242 |  |  | $ | 24,779 |
Thereafter |  | $ | 239,063 |  |  | $ | 278,884 |
Total |  | $ | 361,406 |  |  | $ | 402,779 |
(1) | The Head Leases are fixed-rate operating leases while the Subleases have a small variable-rate component. As at December 31, 2012, the Partnership had received $149.0 million of aggregate Head Lease receipts and had paid $90.6 million of aggregate Sublease payments. The portion of the Head Lease receipts that haven’t been recognized into earnings are deferred and amortized on a straight line basis over the lease terms and as at December 31, 2012, $39.1 million of Head Lease receipts had been deferred and included in other long-term liabilities in the Partnership’s consolidated balance sheets.
(2) | The amount of payments under the Subleases are updated annually to reflect any changes in the lease payments due to changes in tax law.
Net Investments in Direct Financing Leases | following table lists the components of the net investments in direct financing leases:
|  | December 31, 2012 $ |  |  | December 31, 2011 $ |
Total minimum lease payments to be received |  |  | 623,739 |  |  |  | 662,912 |
Estimated unguaranteed residual value of leased properties |  |  | 194,965 |  |  |  | 194,965 |
Initial direct costs |  |  | 523 |  |  |  | 554 |
Less unearned revenue |  |  | (415,841 | ) |  |  | (448,890 | )
Total |  |  | 403,386 |  |  |  | 409,541 |
Less current portion |  |  | 6,656 |  |  |  | 6,074 |
Total |  |  | 396,730 |  |  |  | 403,467 |

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- Definition The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 + Details
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- Definition The entire disclosure for lessor's leasing arrangements, which includes direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 13 -Paragraph 23 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45377-112738 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 47 -URI http://asc.fasb.org/extlink&oid=6584217&loc=d3e38847-112698 + Details
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