v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Summary of Financing Receivables

The following table contains a summary of the Company’s financing receivables by type and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis.

 

            December 31, 2013     December 31, 2012  
Class of Financing Receivable   Credit Quality Indicator   Grade   $     $  

Investment in term loans and interest receivable

   Collateral   Non-performing (1)     136,061       119,385  

Loan to joint venture

   Other internal metrics   Performing     9,830       9,830  
     

 

 

    

 

 

  
        145,891       129,215  
     

 

 

    

 

 

  

 

(1) The borrowers under the Loans have been in default on their interest payment obligations since the first quarter of 2013, and subsequently, in default of the repayment of the loan principal from the loan maturity date in July 2013. On March 21, 2014, the Company took ownership of the vessels held as collateral in satisfaction of the loans and interest (see Note 4).
Summarizes Change in Capitalized Dry-Docking Activity

The following table summarizes the change in the Company’s capitalized dry docking costs, from January 1, 2011 to December 31, 2013:

 

     Year Ended December 31,  
     2013     2012     2011  
     $     $     $  

Balance as at January 1,

      18,672       20,945       26,406  

Cost incurred for dry docking

      19,245       7,003       3,197  

Dry-dock amortization

      (8,648 )      (8,959 )      (8,658 ) 

Vessel sales/held for sale (note 17)

      —         (317 )      —    
  

 

 

    

 

 

    

 

 

  

Balance as at December 31,

      29,269       18,672       20,945