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Equity Financing Transactions of the Daughter Companies | 6 Months Ended
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Jun. 30, 2017
Equity [Abstract] |
Equity Financing Transactions of the Daughter Companies | Equity Financing Transactions of the Daughter Companies During the six months ended June 30, 2017, two of the Company's publicly traded subsidiaries, Teekay Tankers and Teekay Offshore completed the following equity issuances:
| Number of shares / units # |  | Total Proceeds Received $ |  | Less: Teekay Corporation Portion $ |  | Offering Expenses $ |  | Net Proceeds Received from Non-controlling Interests $
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Teekay Tankers Continuous Offering Program | 3,800,000 |  |  | 8,826 |  |  | — |  |  | (305 | ) |  | 8,521 |
Teekay Tankers Private Placement | 2,155,172 |  |  | 5,000 |  |  | (5,000 | ) |  | — |  |  | — |
Teekay Tankers Direct Equity Placement(1) | 13,775,224 |  |  | 25,897 |  |  | (25,897 | ) |  | — |  |  | — |
Teekay Offshore Private Placements (2) | 6,330,785 |  |  | 29,332 |  |  | (16,675 | ) |  | (212 | ) |  | 12,445 |
(1) | In May 2017, Teekay Tankers issued Class B common stock to the Company as consideration for its acquisition of the remaining 50% interest in TTOL.
(2) | In February 2017 and May 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distributions on Teekay Offshore's Series C-1 and D Preferred Units and on Teekay Offshore's common units and general partner interest held by subsidiaries of Teekay.
In June 2016, Teekay Offshore agreed with Teekay that, until the Teekay Offshore's Norwegian Kroner (or NOK) bonds maturing in 2018 have been repaid, all cash distributions (other than with respect to distributions, if any, on incentive distribution rights) to be paid by Teekay Offshore to Teekay or its affiliates, including Teekay Offshore's general partner, will instead be paid in common units or from the proceeds of the sale of common units. Teekay Offshore issued Teekay 2.2 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distribution on Teekay Offshore's Series D Preferred Units, common units and general partner interest held by subsidiaries of Teekay. In April 2017 and June 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the interest due on its $200 million loan due to its affiliates. Teekay Offshore issued Teekay 1.7 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the loan interest.

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