XML 54 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6
Operating and Direct Financing Leases (Tables)
 12 Months Ended
Dec. 31, 2011
Operating and Direct Financing Leases [Abstract]  
Estimated future minimum rental payments to be received and paid under the lease contracts
                 

Year

   Head Lease
Receipts (1)		     Sublease
Payments  (1)		  

2012

     28,859       24,999  

2013

     28,843       24,999  

2014

     28,828       24,999  

2015

     22,188       24,999  

2016

     21,242       24,999  

Thereafter

     260,306       306,356  
   

 

 

    

 

 

  

Total

   $ 390,266     $ 431,351  
   

 

 

    

 

 

  

 

  (1) The Head Leases are fixed-rate operating leases while the Subleases have a small variable-rate component. As at December 31, 2011, the Teekay Tangguh Subsidiary had received $120.1 million of aggregate Head Lease receipts and had paid $66.0 million of Sublease payments.
Net investment in direct financing leases
                 
    December 31,
2011
$		     December 31,
2010
$		  

Total minimum lease payments to be received

     741,604       796,137  

Estimated unguaranteed residual value of leased properties

     203,465       203,465  

Initial direct costs and other

     1,636       1,726  

Less unearned revenue

     (486,797 )      (513,812 ) 
   

 

 

    

 

 

  

Total

     459,908       487,516  

Less current portion

     23,171       26,791  
   

 

 

    

 

 

  

Long-term portion

     436,737       460,725