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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2012
Summarized Dry Docking Activity | Dry docking activity for the three years ended December 31, 2012, 2011, and 2010, is summarized as follows:
|  | Year Ended December 31, |
|  | 2012 $ |  |  | 2011 $ |  |  | 2010 $ |
Balance at the beginning of the year |  |  | 128,987 |  |  |  | 143,103 |  |  |  | 172,053 |
Costs incurred for drydocking |  |  | 35,336 |  |  |  | 54,296 |  |  |  | 57,156 |
Dry-dock amortization |  |  | (57,082 | ) |  |  | (67,180 | ) |  |  | (86,106 | )
Write down / sale of vessels |  |  | (6,313 | ) |  |  | (1,232 | ) |  |  | — |
Balance at the end of the year |  |  | 100,928 |  |  |  | 128,987 |  |  |  | 143,103 |
Summary of Financing Receivables | The following table contains a summary of the Company’s financing receivables by type of borrower, the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis, and the grade as of December 31, 2012.
|  |  |  |  |  |  | December 31, |
Class of Financing Receivable |  | Credit Quality Indicator |  | Grade |  |  | 2012 $ |  |  | 2011 $ |
Direct financing leases |  | Payment activity |  |  | Performing |  |  |  | 436,601 |  |  |  | 459,908 |
Other loan receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in term loans and interest receivable |  | Collateral |  |  | Performing(2) |  |  |  | 119,385 |  |  |  | 188,616 |
Investment in term loans and interest receivable |  | Collateral |  |  | (3 | ) |  |  | 69,371 |  |  |  | — |
Loans to equity accounted investees and joint venture partners (1) |  | Other internal metrics |  |  | Performing |  |  |  | 206,903 |  |  |  | 85,248 |
Long term receivable included in other assets |  | Payment activity |  |  | Performing |  |  |  | 1,704 |  |  |  | 786 |
|  |  |  |  |  |  |  |  | 833,964 |  |  |  | 734,558 |
(1) | The Company’s subsidiary Teekay LNG Partners L.P. (or Teekay LNG) owns a 99% interest in Teekay Tangguh Borrower LLC (or Teekay Tangguh), which owns a 70% interest in Teekay BLT Corporation (or Teekay Tangguh Subsidiary). During the year ended December 31, 2012, one of Teekay LNG’s joint venture partner’s parent company, PT Berlian Laju Tanker (or BLT), suspended trading on the Jakarta Stock Exchange and entered into a court-supervised restructuring under the Suspension of Payment process in Indonesia, in order to restructure its debts. The Company believes the loans to BLT and Teekay LNG’s joint venture partner, BLT LNG Tangguh Corporation, totaling $24.0 million as at December 31, 2012 (2011—$19.1 million) are collectible given the expected cash flows anticipated to be generated by the Teekay Tangguh Subsidiary that can be used to repay the loan and given the underlying collateral securing the loans to BLT.
(2) | Subsequent to December 31, 2012, the borrower did not pay in full the January 31, 2013 interest payment. It is expected that the Company will recover all amounts due under the loan agreements based upon cash flow generated by the borrower, financial support from the borrower’s ultimate parent company and the Company realizing the value of the primary collateral, two 2010-built Very Large Crude Carriers.
(3) | As of December 31, 2012, the estimated fair value of the asset that has been pledged as collateral for the loan is greater than 95% of the principal amount of the loan and unpaid interest. Subsequent to the end of the year, the borrower did not pay in full the January 31, 2013 interest payment. Based on a review of the borrower’s financial condition, it is expected that a full recovery of all amounts due under the loan agreement will be dependent upon cash flow generated by the borrower, financial support from the borrower’s ultimate parent company and the Company realizing the value of the primary collateral, a 2011-built Very Large Crude Carrier.
Schedule of Accumulated Other Comprehensive (Loss) Income | The following table contains the changes in the balances of each component of accumulated other comprehensive income (loss) for the periods presented.
|  | Qualifying Cash Flow Hedging Instruments $ |  |  | Pension Adjustments $ |  |  | Unrealized Gain (Loss) on Available for Sale Marketable Securities $ |  |  | Foreign Exchange Loss on Currency Translation $ |  |  | Total $ |
Balance as of December 31, 2009 |  |  | 2,923 |  |  |  | (10,294 | ) |  |  | 5,837 |  |  |  | — |  |  |  | (1,534 | )
Other comprehensive (loss) income |  |  | (628 | ) |  |  | (7,245 | ) |  |  | 1,236 |  |  |  | — |  |  |  | (6,637 | )
Balance as of December 31, 2010 |  |  | 2,295 |  |  |  | (17,539 | ) |  |  | 7,073 |  |  |  | — |  |  |  | (8,171 | )
Other comprehensive loss |  |  | (2,601 | ) |  |  | (5,402 | ) |  |  | (7,729 | ) |  |  | — |  |  |  | (15,732 | )
Balance as of December 31, 2011 |  |  | (306 | ) |  |  | (22,941 | ) |  |  | (656 | ) |  |  | — |  |  |  | (23,903 | )
Other comprehensive income |  |  | 647 |  |  |  | 6,688 |  |  |  | 656 |  |  |  | 1,144 |  |  |  | 9,135 |
Balance as of December 31, 2012 |  |  | 341 |  |  |  | (16,253 | ) |  |  | — |  |  |  | 1,144 |  |  |  | (14,768 | )

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- 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=7512638&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=7880640&loc=SL6953803-111525 + Details
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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580 + Details
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