XML 29 R14.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Goodwill, Intangible Assets and In-Process Revenue Contracts | 12 Months Ended
--- | ---
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill, Intangible Assets and In-Process Revenue Contracts | 6. Goodwill, Intangible Assets and In-Process Revenue Contracts Goodwill The carrying amount of goodwill for the years ended December 31, 2017 and 2016, for the Company’s reportable segments are as follows:
| Teekay Offshore $ |  | Teekay LNG - Liquefied Gas Segment $ |  | Conventional Tanker Segment $ |  | Total $
Balance as of December 31, 2016 | 132,940 |  |  | 35,631 |  |  | 8,059 |  |  | 176,630 |
Decrease due to deconsolidation of Teekay Offshore (Note 3) | (132,940 | ) |  | — |  |  | — |  |  | (132,940 | )
Balance as of December 31, 2017 | — |  |  | 35,631 |  |  | 8,059 |  |  | 43,690 |
Intangible Assets As at December 31, 2017, the Company’s intangible assets consisted of:
| Gross Carrying Amount $ |  | Accumulated Amortization $ |  | Net Carrying Amount $
Customer contracts | 193,194 |  |  | (131,647 | ) |  | 61,547 |
Customer relationships | 22,500 |  |  | (8,005 | ) |  | 14,495 |
Off-market in-charter contracts (1) | 17,900 |  |  | (928 | ) |  | 16,972 |
| 233,594 |  |  | (140,580 | ) |  | 93,014 |
(1) Represents the off-market in-charter contracts between the Company and Teekay Offshore for two Floating Storage and Offloading (or FSO) units. As at December 31, 2016, the Company’s intangible assets consisted of:
| Gross Carrying Amount $ |  | Accumulated Amortization $ |  | Net Carrying Amount $
Customer contracts | 317,222 |  |  | (245,705 | ) |  | 71,517 |
Customer relationships | 22,500 |  |  | (4,842 | ) |  | 17,658 |
Other intangible assets | 1,000 |  |  | (1,000 | ) |  | — |
| 340,722 |  |  | (251,547 | ) |  | 89,175 |
In July 2015, as part of Teekay Tankers’ acquisition of SPT (see Note 4d), Teekay Tankers ascribed a value of $30.9 million to the customer relationships assumed as part of the acquisition of the STS transfer business. The Company is amortizing those customer relationships over a period of 10 years. The estimates of fair value were finalized in the first quarter of 2016 and resulted in a decrease in intangible assets of $8.4 million from preliminary estimates. Amortization expense relating to this acquisition for the years ended December 31, 2017 and 2016 were $3.2 million and $3.6 million, respectively, which is included in depreciation and amortization expenses. Aggregate amortization expense of intangible assets for the year ended December 31, 2017, was $14.0 million (2016 - $14.9 million, 2015 - $13.6 million), including $13.1 million presented in depreciation and amortization (2016 - $14.9 million, 2015 - $13.6 million) and $0.9 million presented in time-charter hire expenses (2016 - $nil, 2015 - $nil). Amortization of intangible assets following 2017 is expected to be $15.3 million (2018), $13.8 million (2019), $13.3 million (2020), $13.1 million (2021), $12.9 million (2022) and $24.6 million (thereafter). In-Process Revenue Contracts As part of the Company’s previous acquisition of FPSO units from Sevan Marine ASA (or Sevan) and Petrojarl ASA (subsequently renamed Teekay Petrojarl AS, or Teekay Petrojarl), and Teekay LNG’s acquisition of BG’s ownership interests in four LNG carrier newbuildings, the Company assumed certain FPSO contracts and time-charter-out contracts with terms that were less favorable than the then prevailing market terms, and a service obligation for shipbuilding supervision and crew training services for the four LNG carrier newbuildings. At the time of the acquisitions, the Company recognized liabilities based on the estimated fair value of these contracts and service obligations. One FPSO contract as at December 31, 2016 of $63.0 million related to Teekay Offshore, which was deconsolidated in September 2017. The Company is amortizing the remaining liabilities over the estimated remaining terms of their associated contracts on a weighted basis, based on the projected revenue to be earned under the contracts. Amortization of in-process revenue contracts for the year ended December 31, 2017 was $27.2 million (2016 - $28.1 million, 2015 - $30.1 million), which is included in revenues on the consolidated statements of (loss) income. Amortization of in-process revenue contracts following 2017 is expected to be $14.1 million (2018), $6.3 million (2019), $5.9 million (2020), $5.9 million (2021), and $5.9 million (2022).

X
- Definition Goodwill, Intangible assets and in-process revenue contracts. + References No definition available. + Details
Name: | tk_GoodwillIntangibleAssetsAndInProcessRevenueContractsTextBlock
Namespace Prefix: | tk_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration