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Leases and Restricted Cash (Tables) | 12 Months Ended
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Dec. 31, 2015
Text Block [Abstract] |
Capital Lease Obligations | Capital Lease Obligations
|  | December 31, 2015 $ |  |  | December 31, 2014 $ |
Suezmax Tankers |  |  | 59,127 |  |  |  | 63,550 |
Less current portion |  |  | 4,546 |  |  |  | 4,422 |
Long-term obligations under capital lease |  |  | 54,581 |  |  |  | 59,128 |
Commitment Under Capital Leases | As at December 31, 2015, the remaining commitments under the two capital leases, including the purchase obligations for the two Suezmax tankers, approximated $65.9 million, including imputed interest of $6.8 million, repayable from 2016 through 2018, as indicated below:
Year |  | Commitment |
2016 |  | $ | 7,673 |
2017 |  | $ | 30,953 |
2018 |  | $ | 27,296 |
Estimated Future Minimum Rental Payments to be Received and Paid Under the Lease Contracts | As at December 31, 2015, the total estimated future minimum rental payments to be received and paid under the lease contracts are as follows:
Year |  | Head Lease Receipts(i) |  |  | Sublease Payments(i)(ii) |
2016 |  | $ | 21,242 |  |  | $ | 24,113 |
2017 |  | $ | 21,242 |  |  | $ | 24,113 |
2018 |  | $ | 21,242 |  |  | $ | 24,113 |
2019 |  | $ | 21,242 |  |  | $ | 24,113 |
2020 |  | $ | 21,242 |  |  | $ | 24,113 |
Thereafter |  | $ | 175,337 |  |  | $ | 199,072 |
Total |  | $ | 281,547 |  |  | $ | 319,637 |
(i) | The Head Leases are fixed-rate operating leases while the Subleases have a small variable-rate component. As at December 31, 2015, the Partnership had received $228.8 million of aggregate Head Lease receipts and had paid $163.7 million of aggregate Sublease payments. The portion of the Head Lease receipts that have not been recognized into earnings are deferred and amortized on a straight line basis over the lease terms and, as at December 31, 2015, $3.8 million and $40.4 million of Head Lease receipts had been deferred and included in unearned revenue and other long-term liabilities, respectively, in the Partnership’s consolidated balance sheets.
(ii) | 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 | The following table lists the components of the net investments in direct financing leases:
|  | December 31, 2015 $ |  |  | December 31, 2014 $ |
Total minimum lease payments to be received |  |  | 843,079 |  |  |  | 914,943 |
Estimated unguaranteed residual value of leased properties |  |  | 194,965 |  |  |  | 194,965 |
Initial direct costs |  |  | 425 |  |  |  | 458 |
Unearned revenue |  |  | (371,811 | ) |  |  | (427,871 | )
Total |  |  | 666,658 |  |  |  | 682,495 |
Less current portion |  |  | 20,606 |  |  |  | 15,837 |
Net investments in direct financing leases - non-current |  |  | 646,052 |  |  |  | 666,658 |

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- Definition Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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