v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING ACTIVITIES      
Net (loss) income $ (113,075) $ (23,142) $ 55,460
Non-cash items:      
Depreciation and amortization 74,482 77,317 76,201
Unrealized (gain) loss on derivative instruments (11,238) 13,825 (22,853)
Vessel impairments and net loss on sale of vessels (note 18) 58,034 1,864  
Goodwill impairment charge (note 7) 19,294    
Other 553 (190) 849
Change in non-cash working capital items related to operating activities (note 16) (833) (1,961) 35,330
Expenditures for dry docking (3,197) (9,311) (15,790)
Net operating cash flow 24,020 58,402 129,197
FINANCING ACTIVITIES      
Proceeds from long-term debt 15,000 185,000  
Repayments of long-term debt (1,800) (3,150) (3,600)
Prepayment of long-term debt (118,328) (33,050) (20,000)
Proceeds from long-term debt of Dropdown Predecessor (note 1) 269,874 55,604 505,227
Repayment of long-term debt of Dropdown Predecessor (note 1) (18,567) (18,567) (18,238)
Prepayment of long-term debt of Dropdown Predecessor (note 1)   (173,464) (553,200)
Acquisition of Helga Spirit LLC, Yamuna Spirit LLC, Kaveri Spirit LLC, Esther Spirit LLC and Iskmati Spirit LLC from Teekay Corporation (note 1)   (244,185)  
Acquisition of Ashkini Spirit LLC from Teekay Corporation (note 1)     (57,000)
Contribution of capital from Teekay Corporation to Dropdown Predecessor (note 1) 69,169 (35,691) (5,160)
Net advances from (to) affiliates (note 1) (287,101) 168,215 (284)
Proceeds from issuance of Class A common stock (note 3) 112,054 211,978 68,600
Shares issuance costs (4,949) (9,395) (3,092)
Cash dividends paid (51,358) (55,244) (50,350)
Net financing cash flow (16,006) 48,051 (137,097)
INVESTING ACTIVITIES      
Proceeds from the sale of vessels and equipment   35,396  
Expenditures for vessels and equipment (4,337) (11,987) (8,366)
Advances to joint venture   (9,830)  
Investment in term loans   (115,575)  
Net investing cash flow (4,337) (101,996) (8,366)
Increase (decrease) in cash and cash equivalents 3,677 4,457 (16,266)
Cash and cash equivalents, beginning of the year 14,889 10,432 26,698
Cash and cash equivalents, end of the year $ 18,566 $ 14,889 $ 10,432