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Segment Reporting | 6 Months Ended
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Jun. 30, 2013
Segment Reporting [Abstract] |
Segment Reporting | 2. Segment Reporting The following tables include results for the Company’s four segments for the three and six months ended June 30, 2013 and 2012:
|  | Shuttle |  |  |  |  |  | Liquefied |  |  | Conventional |  |  |  |
|  | Tanker and FSO |  |  | FPSO |  |  | Gas |  |  | Tanker |  |  |  |
Three Months ended June 30, 2013 |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Revenues |  |  | 140,062 |  |  |  | 122,560 |  |  |  | 70,983 |  |  |  | 97,102 |  |  |  | 430,707 |
Voyage expenses |  |  | 22,275 |  |  |  | — |  |  |  | 487 |  |  |  | 3,392 |  |  |  | 26,154 |
Vessel operating expenses |  |  | 43,472 |  |  |  | 84,054 |  |  |  | 15,164 |  |  |  | 53,288 |  |  |  | 195,978 |
Time-charter hire expense |  |  | 14,110 |  |  |  | — |  |  |  | — |  |  |  | 12,434 |  |  |  | 26,544 |
Depreciation and amortization |  |  | 29,093 |  |  |  | 39,285 |  |  |  | 18,328 |  |  |  | 23,063 |  |  |  | 109,769 |
General and administrative(1) |  |  | 9,324 |  |  |  | 11,760 |  |  |  | 5,314 |  |  |  | 8,997 |  |  |  | 35,395 |
Asset impairments and provisions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,042 |  |  |  | 7,042 |
Gain on sale of vessels and equipment |  |  | — |  |  |  | (1,338 | ) |  |  | — |  |  |  | (3 | ) |  |  | (1,341 | )
Restructuring charges |  |  | 1,043 |  |  |  | — |  |  |  | — |  |  |  | 746 |  |  |  | 1,789 |
Income (loss) from vessel operations |  |  | 20,745 |  |  |  | (11,201 | ) |  |  | 31,690 |  |  |  | (11,857 | ) |  |  | 29,377 |
Segment assets as at June 30, 2013 |  |  | 1,844,517 |  |  |  | 2,787,470 |  |  |  | 3,279,847 |  |  |  | 1,983,339 |  |  |  | 9,895,173 |
|  | Shuttle |  |  |  |  |  | Liquefied |  |  | Conventional |  |  |  |
|  | Tanker and FSO |  |  | FPSO |  |  | Gas |  |  | Tanker |  |  |  |
Three Months ended June 30, 2012 |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Revenues |  |  | 153,694 |  |  |  | 136,198 |  |  |  | 70,093 |  |  |  | 126,796 |  |  |  | 486,781 |
Voyage expenses |  |  | 32,252 |  |  |  | — |  |  |  | 53 |  |  |  | 6,871 |  |  |  | 39,176 |
Vessel operating expenses |  |  | 44,939 |  |  |  | 85,489 |  |  |  | 12,653 |  |  |  | 48,692 |  |  |  | 191,773 |
Time-charter hire expense |  |  | 12,969 |  |  |  | — |  |  |  | — |  |  |  | 18,522 |  |  |  | 31,491 |
Depreciation and amortization |  |  | 32,037 |  |  |  | 34,415 |  |  |  | 17,445 |  |  |  | 31,171 |  |  |  | 115,068 |
General and administrative(1) |  |  | 11,241 |  |  |  | 10,214 |  |  |  | 4,513 |  |  |  | 10,262 |  |  |  | 36,230 |
Asset impairments and provisions |  |  | 1,048 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,048 |
Loss on sale of vessels and equipment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,221 |  |  |  | 2,221 |
Restructuring charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,525 |  |  |  | 1,525 |
Income from vessel operations |  |  | 19,208 |  |  |  | 6,080 |  |  |  | 35,429 |  |  |  | 7,532 |  |  |  | 68,249 |
Segment assets as at June 30, 2012 |  |  | 1,871,341 |  |  |  | 2,497,592 |  |  |  | 3,108,124 |  |  |  | 2,494,008 |  |  |  | 9,971,065 |
|  | Shuttle |  |  |  |  |  | Liquefied |  |  | Conventional |  |  |  |
|  | Tanker and FSO |  |  | FPSO |  |  | Gas |  |  | Tanker |  |  |  |
Six Months ended June 30, 2013 |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Revenues |  |  | 278,715 |  |  |  | 263,489 |  |  |  | 141,984 |  |  |  | 197,556 |  |  |  | 881,744 |
Voyage expenses |  |  | 44,084 |  |  |  | — |  |  |  | 491 |  |  |  | 7,894 |  |  |  | 52,469 |
Vessel operating expenses |  |  | 88,379 |  |  |  | 161,438 |  |  |  | 30,260 |  |  |  | 103,365 |  |  |  | 383,442 |
Time-charter hire expense |  |  | 28,887 |  |  |  | — |  |  |  | — |  |  |  | 25,109 |  |  |  | 53,996 |
Depreciation and amortization |  |  | 56,789 |  |  |  | 73,317 |  |  |  | 35,619 |  |  |  | 46,538 |  |  |  | 212,263 |
General and administrative(1) |  |  | 19,828 |  |  |  | 24,121 |  |  |  | 11,510 |  |  |  | 19,207 |  |  |  | 74,666 |
Asset impairments and provisions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,207 |  |  |  | 10,207 |
(Gain) loss on sale of vessels and equipment |  |  | — |  |  |  | (1,338 | ) |  |  | — |  |  |  | 29 |  |  |  | (1,309 | )
Restructuring charges |  |  | 1,630 |  |  |  | — |  |  |  | — |  |  |  | 2,213 |  |  |  | 3,843 |
Income (loss) from vessel operations |  |  | 39,118 |  |  |  | 5,951 |  |  |  | 64,104 |  |  |  | (17,006 | ) |  |  | 92,167 |
|  | Shuttle |  |  |  |  |  | Liquefied |  |  | Conventional |  |  |  |
|  | Tanker and FSO |  |  | FPSO |  |  | Gas |  |  | Tanker |  |  |  |
Six Months ended June 30, 2012 |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Revenues |  |  | 309,929 |  |  |  | 264,866 |  |  |  | 143,678 |  |  |  | 269,414 |  |  |  | 987,887 |
Voyage expenses |  |  | 59,267 |  |  |  | 232 |  |  |  | 149 |  |  |  | 18,165 |  |  |  | 77,813 |
Vessel operating expenses |  |  | 94,758 |  |  |  | 159,571 |  |  |  | 25,620 |  |  |  | 99,578 |  |  |  | 379,527 |
Time-charter hire expense |  |  | 26,586 |  |  |  | — |  |  |  | — |  |  |  | 48,884 |  |  |  | 75,470 |
Depreciation and amortization |  |  | 63,829 |  |  |  | 67,563 |  |  |  | 34,683 |  |  |  | 63,607 |  |  |  | 229,682 |
General and administrative(1) |  |  | 20,520 |  |  |  | 21,791 |  |  |  | 9,618 |  |  |  | 22,663 |  |  |  | 74,592 |
Asset impairments and provisions |  |  | 1,048 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,048 |
Loss on sale of vessels and equipment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,024 |  |  |  | 2,024 |
Restructuring charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,525 |  |  |  | 1,525 |
Income from vessel operations |  |  | 43,921 |  |  |  | 15,709 |  |  |  | 73,608 |  |  |  | 12,968 |  |  |  | 146,206 |
(1) | Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows:
|  | June 30, 2013 |  |  | December 31, 2012 |
|  | $ |  |  | $ |
Total assets of all segments |  |  | 9,895,173 |  |  |  | 9,719,938 |
Cash |  |  | 540,206 |  |  |  | 639,491 |
Accounts receivable and other assets |  |  | 682,208 |  |  |  | 642,596 |
Consolidated total assets |  |  | 11,117,587 |  |  |  | 11,002,025 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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