v2.4.0.8

Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Summary of Fair Value and Carrying Value of Assets and Liabilities Measured on Recurring and Non-recurring Basis

The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis as well as the estimated fair value of the Company’s financial instruments that are not accounted for at the fair value on a recurring basis.

						June 30, 2013								December 31, 2012
		Fair Value Hierarchy Level				Carrying Amount Asset / (Liability)				Fair Value Asset / (Liability)				Carrying Amount Asset / (Liability)				Fair Value Asset / (Liability)
						$				$				$				$
Recurring:
Cash and cash equivalents			Level 1				37,708				37,708				26,341				26,341
Derivative instruments
Interest rate swap agreements			Level 2				(26,724	)			(26,724	)			(33,631	)			(33,631	)
Non-Recurring:
Vessels and equipment			Level 2				—				—				252,068				252,068
Vessel held for sale (note 9)			Level 2				—				—				9,114				9,114
Other:
Investment in term loans and interest receivable			Level 3				122,841				119,929				119,385				117,784
Loan to joint venture			Note (1)				9,830				Note (1)				9,830				Note (1)
Long-term debt, including current portion			Level 2				(730,214	)			(654,674	)			(735,701	)			(648,724	)

(1) The Company’s loan to the joint venture, together with the Company’s equity investment in the joint venture form the aggregate carrying value of the Company’s interest in an entity accounted for by the equity method in these consolidated financial statements. The fair value of the individual components of such aggregate interest as at June 30, 2013 and December 31, 2012 was not determinable.

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.

								June 30, 2013				December 31, 2012
Class of Financing Receivable		Credit Quality Indicator		Grade				$				$
Investment in term loans (see Note 2)		Collateral			Non-Performing				122,841				119,385
Loan to joint venture		Other internal metrics			Performing				9,830				9,830
									132,671				129,215

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953659-111524



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 55

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258

+ Details

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