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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2011
Fair Value Measurements [Abstract] |
Fair value of the company financial instruments and other non financial assets |
|  |  |  | December 31, 2011 |  |  | December 31, 2010 |
|  |  |  | Carrying |  |  | Fair |  |  | Carrying |  |  | Fair |
|  | Fair Value |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
|  | Hierarchy |  | Asset (Liability) |  |  | Asset (Liability) |  |  | Asset (Liability) |  |  | Asset (Liability) |
|  | Level (1) |  | $ |  |  | $ |  |  | $ |  |  | $ |
Recurring |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents, restricted cash, and marketable securities |  | Level 1 |  |  | 1,200,063 |  |  |  | 1,200,063 |  |  |  | 1,377,399 |  |  |  | 1,377,399 |
Derivative instruments (note 15) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap agreements (2) |  | Level 2 |  |  | (707,437 | ) |  |  | (707,437 | ) |  |  | (557,991 | ) |  |  | (557,991 | )
Interest rate swap agreements (2) |  | Level 2 |  |  | 159,603 |  |  |  | 159,603 |  |  |  | 66,869 |  |  |  | 66,869 |
Cross currency interest swap agreement |  | Level 2 |  |  | 2,677 |  |  |  | 2,677 |  |  |  | 4,233 |  |  |  | 4,233 |
Foreign currency contracts |  | Level 2 |  |  | (4,362 | ) |  |  | (4,362 | ) |  |  | 11,375 |  |  |  | 11,375 |
Foinaven embedded derivative |  | Level 2 |  |  | 3,385 |  |  |  | 3,385 |  |  |  | (3,500 | ) |  |  | (3,500 | )
Non-recurring |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vessels and equipment (3) |  | Level 2 |  |  | 118,682 |  |  |  | 118,682 |  |  |  | — |  |  |  | — |
Equity accounted investments (4) |  | Level 3 |  |  | 9,623 |  |  |  | 9,623 |  |  |  | — |  |  |  | — |
Vessels held for sale |  | Level 2 |  |  | 19,000 |  |  |  | 19,000 |  |  |  | — |  |  |  | — |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in term loans (note 4) |  |  |  |  | 189,666 |  |  |  | 190,939 |  |  |  | 116,014 |  |  |  | 120,837 |
Loans to equity accounted investees and joint venture partners |  |  |  |  | 85,248 |  |  |  | 85,248 |  |  |  | 32,750 |  |  |  | 32,750 |
Loans from equity accounted investees |  |  |  |  | — |  |  |  | — |  |  |  | (59 | ) |  |  | (59 | )
Long-term debt |  |  |  |  | (5,444,373 | ) |  |  | (5,072,214 | ) |  |  | (4,432,064 | ) |  |  | (4,192,646 | )
(1) | The fair value hierarchy level is only applicable to each financial instrument on the consolidated balance sheets that are recorded at fair value on a recurring basis.
(2) | The fair value of the Company’s interest rate swap agreements at December 31, 2011 includes $24.5 million (December 31, 2010—$31.0 million) of net accrued interest which is recorded in accrued liabilities on the consolidated balance sheet.
(3) | The fair value measurement used to determine the impairment of the vessels was calculated based upon the estimated sales price of the vessel or the estimated scrap value of the respective vessels.
(4) | The fair value measurement used to determine the impairment of the investment in Petrotrans Holdings Ltd. (or PTH) was based upon the estimated liquidation values of the underlying net assets of the investment.
There are no other non-financial assets or non-financial liabilities carried at fair value as at December 31, 2011 and December 31, 2010.

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- 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 -Topic 820 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 + Details
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