<SEC-DOCUMENT>0001628280-18-006918.txt : 20180517
<SEC-HEADER>0001628280-18-006918.hdr.sgml : 20180517
<ACCEPTANCE-DATETIME>20180517163752
ACCESSION NUMBER:		0001628280-18-006918
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180331
FILED AS OF DATE:		20180517
DATE AS OF CHANGE:		20180517

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEEKAY CORP
		CENTRAL INDEX KEY:			0000911971
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12874
		FILM NUMBER:		18843534

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, BELVEDERE BUILDING
		STREET 2:		69 PITTS BAY ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 08
		BUSINESS PHONE:		604-683-3529

	MAIL ADDRESS:	
		STREET 1:		SUITE 2000,  BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2K2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEEKAY SHIPPING CORP
		DATE OF NAME CHANGE:	19950609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIKING STAR SHIPPING INC
		DATE OF NAME CHANGE:	19930914
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tkcq1-18erdocument.htm
<DESCRIPTION>6-K
<TEXT>
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<div><a name="s89DB8CC1A7785C5390664B49BF24E93B"></a></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;&#160;</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">WASHINGTON, D.C. 20549 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">FORM 6-K </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Report of Foreign Private Issuer </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Pursuant to Rule 13a-16 or 15d-16 of </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">the Securities Exchange Act of 1934 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Date of Report: </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">May&#160;17, 2018</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Commission file number 1- 12874 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:24pt;"><font style="font-family:Arial;font-size:24pt;font-weight:bold;">TEEKAY CORPORATION </font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;font-weight:bold;">(Exact name of Registrant as specified in its charter) </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">4th Floor, Belvedere Building </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">69 Pitts Bay Road </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Hamilton, HM 08, Bermuda </font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;font-weight:bold;">(Address of principal executive office) </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Form 20-F </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form 40- F </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;Yes </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Yes </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">1</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s83E3D66CC5F15070805C809C49E77CFD"></a></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Item 1 &#8212; Information Contained in this Form 6-K Report</font><font style="font-family:Arial;font-size:10pt;">&#32;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Attached as Exhibit 1 is a copy of an announcement of Teekay Corporation dated </font><font style="font-family:Arial;font-size:10pt;">May&#160;17, 2018</font><font style="font-family:Arial;font-size:10pt;">. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">SIGNATURES </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:682px;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:304px;"></td><td style="width:37px;"></td><td style="width:16px;"></td><td style="width:325px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">TEEKAY CORPORATION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Date: May&#160;17, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">/s/ Vincent Lok</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Vincent Lok </font></div><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">2</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s2A0D7A5185FA500698EBEBCD5B495BEA"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:19pt;"><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">TEEKAY CORPORATION REPORTS</font></div><div style="line-height:120%;padding-bottom:2px;text-align:left;font-size:19pt;"><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">FIRST</font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">&#32;QUARTER </font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">2018</font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">&#32;RESULTS</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:13px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#13b3f2;">Highlights</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Reported consolidated GAAP net </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">loss</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;attributable to shareholders of Teekay of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$20.6 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$0.21</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;per share, and consolidated adjusted net </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">loss</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$18.3 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$0.19</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;per share, in the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Generated GAAP consolidated </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">income</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;from vessel operations of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$18.5 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and consolidated total cash flow from vessel operations</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1) </sup></font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$168.4 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;in the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Since the beginning of 2018, Teekay LNG has taken delivery of four LNG carriers, all on long-term charter contracts, and one mid-sized LPG carrier.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Since the beginning of 2018, Teekay Offshore&#8217;s </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Petrojarl I</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;FPSO and two remaining East Coast Canada shuttle tankers commenced their respective charter contracts.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">As of March 31, 2018, Teekay consolidated and Teekay Parent total liquidity of approximately $1 billion and $480 million, respectively. </font></div></td></tr></table><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-weight:bold;">Hamilton, Bermuda, </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">May&#160;17, 2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;- Teekay Corporation (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">the Company</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TK) today reported the Company's results for the quarter ended March 31, 2018.  These results include the Company&#8217;s two publicly-listed consolidated subsidiaries Teekay LNG Partners L.P. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay LNG</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TGP) and Teekay Tankers Ltd. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Tankers</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TNK) and one equity-accounted investment in publicly-listed Teekay Offshore Partners L.P. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Offshore</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TOO) (collectively, the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Daughter Entities</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">), and all remaining subsidiaries and equity-accounted investments of the Company. The Company, together with its subsidiaries other than the Daughter Entities, is referred to in this release as </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.  Please refer to the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;earnings releases of Teekay LNG, Teekay Tankers and Teekay Offshore, which are available on the Company&#8217;s website at </font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;color:#0000ff;">,</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">for additional information on their respective results. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:685px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:9px;"></td><td style="width:414px;"></td><td style="width:82px;"></td><td style="width:4px;"></td><td style="width:82px;"></td><td style="width:4px;"></td><td style="width:82px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="6" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-style:italic;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-style:italic;font-weight:bold;">&#160;(in thousands of U.S. dollars, except per <br>   share amounts) </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY CORPORATION CONSOLIDATED </font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">394,022</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">326,686</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">543,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">66,655</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">81,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(971</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,347</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Net loss attributable to shareholders of Teekay</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(20,555</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(25,286</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(45,256</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss per share attributable to shareholders of Teekay</font></div><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(0.21</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.29</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.53</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">NON-GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Total Cash Flow from Vessel Operations(</font><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;font-style:italic;">CFVO</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)(2)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">168,364</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">183,586</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">274,976</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Adjusted Net Loss attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(18,324</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(9,500</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(35,671</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Adjusted Loss per share attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.19</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.11</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.41</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY PARENT </font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">NON-GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Teekay Parent Adjusted Cash Flow from Vessel Operations</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,222</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">15,781</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(8,609</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Total Teekay Parent Free Cash Flow</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,212</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(721</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20,971</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:justify;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;color:#2e3337;">(1)&#160;&#160;&#160;&#160;These are non-GAAP financial measures.  Please refer to &#8220;Definitions and Non-GAAP Financial Measures&#8221; and the Appendices to this release for definitions of these terms and reconciliations     </font></div><div style="line-height:120%;text-align:justify;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;color:#2e3337;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;of these non-GAAP financial measures as used in this release to the most directly comparable financial measures under United States generally accepted accounting principles (</font><font style="font-family:Arial;font-size:6pt;color:#2e3337;font-style:italic;">GAAP</font><font style="font-family:Arial;font-size:6pt;color:#2e3337;">).</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:6pt;padding-left:0px;"><font style="font-family:Arial;font-size:6pt;color:#2e3337;">(2) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;color:#2e3337;">Total cash flow from vessel operations has reduced in the first quarter of 2018 and the fourth quarter of 2017 primarily as a result of the deconsolidation of Teekay Offshore on September 25, 2017, which Teekay now accounts for using the equity method.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:-24px;font-size:6pt;"><font style="font-family:Arial;font-size:6pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">3</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">CEO Commentary</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;On a consolidated basis, Teekay&#8217;s financial results improved in the first quarter of 2018, compared to the same period of the prior year, primarily driven by higher cash flows from Teekay Parent&#8217;s directly-owned FPSO units that have upside exposure to oil prices and production, and the delivery and contract start-up of several growth projects across the group, partially offset by weaker crude tanker rates,&#8221; commented Kenneth Hvid, President and Chief Executive Officer.&#160; </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;Having focused on the execution and financing of our sizeable Teekay Group project portfolio over the past two years, we are now starting to see these projects deliver and generate cash flow,&#8221; Mr. Hvid added.  &#8220;We believe that our LNG and offshore businesses are at a positive inflection point and we remain encouraged by the improving fundamentals in our tanker business as we approach 2019.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;In Teekay LNG, over the past seven months, we have taken delivery of seven LNG carriers, all on long-term charters,&#8221; commented Mr. Hvid.  &#8220;We believe Teekay LNG is in the early innings of a multi-year cash flow ramp-up with an additional 11 LNG carriers and a regasification facility scheduled to start-up through early-2020, which we expect will also allow us to naturally delever our balance sheet.  From a macro perspective, the long-term LNG fundamentals continue to be very strong, with anticipated LNG demand growth of approximately 25 percent by 2020 and approximately 70 percent by 2030.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;In Teekay Offshore, with the recent start-up of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I</font><font style="font-family:Arial;font-size:10pt;">&#32;FPSO and the third East Coast Canada shuttle tanker newbuilding, we have now completed all our near-term offshore growth projects, which we expect will also allow Teekay Offshore to naturally delever its balance sheet,&#8221; commented Mr. Hvid.  &#8220;Looking ahead, Teekay Offshore has ordered four innovative LNG-powered shuttle tankers as part of its fleet renewal program to meet the needs of its North Sea customer base.  From a macro perspective, global deepwater oil production is expected to grow by approximately 25 percent by 2025.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;Teekay Tankers continues to take prudent steps to further strengthen its balance sheet and liquidity position, most recently signing a term sheet for a sale-leaseback financing, which is expected to increase its liquidity by approximately $36 million.  In addition, Teekay Tankers eliminated its minimum quarterly dividend to preserve liquidity in this weak tanker market but maintained the variable portion of its dividend policy linked to earnings,&#8221; commented Mr. Hvid.  &#8220;While tanker rates are expected to remain weak in the near-term, we are anticipating a gradual improvement in fleet utilization and tanker rates from late-2018.  With significant operating leverage, we believe Teekay Tankers has considerable upside from a cash flow and valuation perspective as the tanker market strengthens.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#8220;At Teekay Parent, we are experiencing growing adjusted cash flow from vessel operations driven by recently renewed contracts on the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Banff </font><font style="font-family:Arial;font-size:10pt;">and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Hummingbird Spirit </font><font style="font-family:Arial;font-size:10pt;">FPSO units and the redelivery of our last in-chartered LNG carriers and conventional tankers,&#8221; commented Mr. Hvid.&#160; &#8220;Teekay Parent continues to strengthen its balance sheet with the equity and convertible bond offerings completed earlier this year and our remaining FPSO units now on better contracts, which opens up strategic options for these assets.&#8221; </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Mr. Hvid added, &#8220;Overall, we believe the Teekay Group is well-positioned to benefit from a broad energy recovery.&#8221;</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">4</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s5A5C1D80373953CA872D539AF9EDC6ED"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary of Results </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Corporation Consolidated</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">The Company's consolidated results during the quarter ended March 31, 2018, compared to the same period of the prior year, were positively impacted primarily by higher cash flows from the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Banff </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Hummingbird </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO units due to the commencement of oil price-linked production tariffs in those charter contracts on August 1, 2017 and October 1, 2017, respectively, and higher income and cash flows from Teekay LNG as a result of the deliveries of 10 liquefied natural gas (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">LNG</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) and mid-sized liquefied petroleum gas (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">LPG</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) newbuilding carriers between February 2017 and February 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">These increases were partially offset primarily by lower income and cash flows in Teekay Tankers, as a result of lower average spot tanker rates and the expiry of time-charter out contracts for various vessels, which vessels have subsequently traded in the spot tanker market at lower average realized rates.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Parent</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay Parent Adjusted Cash Flow from Vessel Operations, which includes distributions and dividends paid to Teekay Parent from the Daughter Entities in the following quarter and cash flow attributable to assets directly-owned by, or chartered-in to, Teekay Parent, less Teekay Parent&#8217;s corporate general and administrative expenses, was </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$13.2 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;for the quarter ended </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">March&#160;31, 2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;compared to negative </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$8.6 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;for the same period of the prior year. This significant </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">improvement</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;was primarily due to higher revenues from the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Banff </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Hummingbird Spirit  </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO units due to contractual production tariffs linked to oil prices which commenced in the latter half of 2017, the commencement of charter contracts for the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Polar Spirit </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Arctic Spirit</font><font style="font-family:Times New Roman;font-size:10pt;color:#2e3337;font-style:italic;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">LNG carriers in the second and third quarters of 2017, respectively, which vessels were in-chartered from Teekay LNG until March 2018 and April 2018, respectively, and as a result of the adoption of the new revenue standard, the recognition of $2.0 million of additional annual incentive revenue related to the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Foinaven </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO which is normally recognized annually in the fourth quarter. These increases were partially offset by a reduction in cash distributions from Teekay Offshore as a result of the strategic partnership with Brookfield Business Partners L.P. together with its institutional partners (collectively, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Brookfield</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) and the elimination of the minimum dividend payment from Teekay Tankers commencing with the first quarter of 2018 (the variable portion of Teekay Tankers' dividend policy remains intact).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Total Teekay Parent Free Cash Flow, includes Teekay Parent Adjusted Cash Flow from Vessel Operations, less net interest expense and dry-dock expenditures, was negative </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$3.2 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;during the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, compared to negative </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$21.0 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;for the same period of the prior year for the reasons mentioned above, and from no interest income earned for the three months ended March 31, 2018 on a $200 million loan to Teekay Offshore which Teekay Parent sold to Brookfield in the third quarter of 2017. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendix D</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of this release for additional information about Teekay Parent Free Cash Flow.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Summary Results of Daughter Entities</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;text-decoration:underline;">Teekay LNG</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay LNG&#8217;s results increased during the quarter ended March 31, 2018, compared to the same quarter of the prior year, primarily due to the delivery of 10 LNG and mid-sized LPG newbuilding carriers between February 2017 and February 2018 and the commencement of short-term charter contracts for certain of the vessels in Teekay LNG's 52 percent-owned joint venture with Marubeni Corporation. These increases were partially offset by the sale of a conventional tanker and an LPG carrier in the first quarter of 2018, lower rates earned in 2018 on two conventional tankers upon the expiration of their fixed-rate charter contracts in 2017, and lower rates earned in 2018 on six LPG carriers upon the termination of their previous charter contracts. Please refer to Teekay LNG's first quarter 2018 earnings release for additional information on the financial results for this entity.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">5</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;text-decoration:underline;">Teekay Tankers</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay Tankers' results decreased during the quarter ended March 31, 2018, compared to the same period of the prior year, primarily due to lower average spot tanker rates and the expiry of time-charter out contracts for various vessels, which have subsequently traded on spot voyages at lower average realized rates in the first quarter of 2018 compared to the same period of the prior year. Please refer to Teekay Tankers' first quarter 2018 earnings release for additional information on the financial results for this entity.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;text-decoration:underline;">Teekay Offshore</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay Offshore&#8217;s results increased during the quarter ended March 31, 2018, compared to the same period of the prior year, primarily due to the contract start-up of the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Randgrid </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FSO, the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Pioneiro de Libra </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO and the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Beothuk Spirit </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Norse Spirit </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">shuttle tankers in the fourth quarter of 2017 and first quarter of 2018. These increases were offset by lower earnings from the Teekay Offshore's towage fleet reflecting the challenging towage markets and non-recurring repair and maintenance expenses in the first quarter of 2018 relating to two redelivered shuttle tankers. Please refer to Teekay Offshore's first quarter 2018 earnings release for additional information on the financial results for this entity.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">6</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s9A833E87F9C65DECB52762B5FEA3A990"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary of Recent Events</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay LNG</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Growth Projects Update</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In January 2018, Teekay LNG&#8217;s 50 percent-owned joint venture with China LNG Shipping (Holdings) Limited (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">China LNG</font><font style="font-family:Arial;font-size:10pt;">) took delivery of its first ARC7 LNG carrier newbuilding, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Eduard Toll</font><font style="font-family:Arial;font-size:10pt;">, which immediately commenced its 28-year charter contract with Yamal LNG project.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In January 2018, Teekay LNG&#8217;s 30 percent-owned joint venture with China LNG and CETS (an affiliate of China National Offshore Oil Corporation (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">CNOOC</font><font style="font-family:Arial;font-size:10pt;">)) took delivery of one LNG carrier newbuilding, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Pan Americas</font><font style="font-family:Arial;font-size:10pt;">, which immediately commenced its 20-year charter contract with Royal Dutch Shell (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Shell</font><font style="font-family:Arial;font-size:10pt;">).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February and May 2018, Teekay LNG took delivery of two M-Type, Electronically Controlled, Gas Injection (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">MEGI</font><font style="font-family:Arial;font-size:10pt;">) LNG carrier newbuildings, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Magdala</font><font style="font-family:Arial;font-size:10pt;">&#32;and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Myrina</font><font style="font-family:Arial;font-size:10pt;">, both of which immediately commenced their respective charter contracts with Shell ranging between six and eight years in duration, plus extension options.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In March 2018, Teekay LNG&#8217;s 50 percent-owned joint venture with Exmar NV (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">the Exmar LPG Joint Venture</font><font style="font-family:Arial;font-size:10pt;">) took delivery of its seventh mid-size LPG carrier newbuilding, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Kapellen</font><font style="font-family:Arial;font-size:10pt;">, which is currently trading in the spot market.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Re-chartering Activities</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In March 2018, upon the scheduled redelivery from Teekay, Teekay LNG re-chartered the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Polar Spirit </font><font style="font-family:Arial;font-size:10pt;">to an Asian-based energy company for a period of approximately three months and then subsequently secured forward employment beginning in July 2018 for nine months with a subsidiary of Petroliam Nasional Berhad (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petronas</font><font style="font-family:Arial;font-size:10pt;">). In addition, Teekay LNG secured a four-year charter contract for the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Arctic Spirit</font><font style="font-family:Arial;font-size:10pt;">, also with a subsidiary of Petronas, which commenced immediately upon redelivery from Teekay in May 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In May 2018, Teekay LNG agreed to a six-month charter extension of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Torben Spirit </font><font style="font-family:Arial;font-size:10pt;">MEGI LNG carrier to a major energy company out to December 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Teekay Nakilat Capital Lease</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Teekay LNG owns a 70 percent interest in Teekay Nakilat Corporation (the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Teekay Nakilat Joint Venture</font><font style="font-family:Arial;font-size:10pt;">), which wholly owns a subsidiary which was the lessee under three separate 30-year capital lease arrangements for three LNG carriers (the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">RasGas II LNG Carriers</font><font style="font-family:Arial;font-size:10pt;">). Under the terms of these leases, the lessor claimed tax depreciation on the capital expenditures incurred to acquire these vessels and paid the lessee an upfront benefit in the amount of $60.9 million at the lease inception. As is typical in these leasing arrangements, tax and change of law risks were assumed by the lessee, in this case the Teekay Nakilat Joint Venture. Lease payments under the lease arrangements were based on certain tax and financial assumptions at the commencement of the leases in 2006 and subsequently adjusted to maintain the lessor's agreed after-tax margin. On December&#160;22, 2014, the Teekay Nakilat Joint Venture terminated the leases of the RasGas II LNG Carriers; however, it remained obligated to the lessor for changes in tax treatment.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The UK taxing authority (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">HMRC</font><font style="font-family:Arial;font-size:10pt;">) has challenged the use by third parties of similar lease structures in the UK courts. One of those challenges was eventually decided in favor of HMRC, with the lessor and lessee choosing not to appeal further. This case concluded that capital allowances are not available to lessors.&#160;On the basis of this conclusion, HMRC is now asking lessees on other leases, including the Teekay Nakilat Joint Venture, to accept that capital allowances are not available to their lessors. Under the terms of the lease, the lessor is entitled to make a determination that additional rentals are due, even where a court has not made a determination on whether capital allowances are available or where discussions are otherwise ongoing with HMRC on the matter (such that additional rental paid may be rebated in due course if the final tax position is not as determined by the lessor). The Teekay Nakilat Joint Venture received initial indications from the lessor in April 2018, which were confirmed on May 10, 2018, that the lessor made a determination that additional rentals are due under the leases.&#160;As a result, the Teekay Nakilat Joint Venture has </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">7</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">recognized an additional tax indemnification guarantee of $53.0 million for a total liability of $65.6 million (46.9 million GBP) as at March 31, 2018, of which $3.0 million and $50.0 million is included in Teekay Corporation's results for the three months ended March 31, 2018 and December 31, 2017, respectively. The Teekay Nakilat Joint Venture is in discussions with HMRC in relation to the correct tax treatment to be applied to the leases and with the lessor regarding the timing and amount of this potential liability for additional rentals.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Financing Update</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In May 2018, Teekay LNG refinanced an outstanding debt facility of $58 million maturing in 2018 and secured by five mid-sized LPG carriers with a new $90 million long-term debt facility maturing in 2024 and secured by seven mid-sized LPG carriers.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Tankers</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Maintaining Balance Sheet Strength</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In April 2018, Teekay Tankers signed a term sheet for a sale-leaseback financing transaction relating to seven modern conventional tankers, including three Suezmax tankers, two Aframax tankers and two LR2 product tankers. The transaction is structured as 10- to 12-year bareboat charters at an average rate of approximately $7,200 per day with attractive purchase options for all seven vessels throughout the lease term after year three. Upon expected completion, the sale-leaseback transaction will provide funds to refinance Teekay Tankers&#8217; only 2018 balloon debt maturity and is expected to increase Teekay Tankers' liquidity by approximately $36 million.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition, in May 2018, Teekay Tankers eliminated its minimum quarterly dividend of $0.03 per share with the variable portion of Teekay Tankers' dividend remaining intact, which is based on paying out 30 to 50 percent of its adjusted net income.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Contracting Activities</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In the first quarter of 2018, Teekay Tankers secured time charter-in contracts for two Aframax vessels, with an average rate of approximately $11,900 per day, and firm periods of 45 days to six months. One of the contracts includes a 50/50 profit sharing agreement with the option to extend for six months at a higher rate and the other contract has a maximum period of approximately four months and will be used to support Teekay Tankers' full service lightering operations.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Offshore</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Growth Projects Update</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In May 2018, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I </font><font style="font-family:Arial;font-size:10pt;">FPSO successfully achieved first oil and commenced its five-year charter contract with a consortium led by Queiroz Galv&#227;o Explora&#231;&#227;o e Produ&#231;&#227;o SA (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">QGEP</font><font style="font-family:Arial;font-size:10pt;">) on the Atlanta oil field, which is the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I </font><font style="font-family:Arial;font-size:10pt;">FPSO&#8217;s tenth field over its lifetime. The </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I </font><font style="font-family:Arial;font-size:10pt;">FPSO is expected to generate annualized cash flow from vessel operations of approximately $25 million</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:Arial;font-size:10pt;">&#32;for the first 18 months, increasing to annualized cash flow from vessel operations of approximately $55 million</font><font style="font-family:Arial;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1) </sup></font><font style="font-family:Arial;font-size:10pt;">during the remaining 42 months of the charter contract, plus additional potential upside from oil price tariffs.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In late-2017 and March 2018, Teekay Offshore took delivery of its last two of three East Coast of Canada shuttle tanker newbuildings, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Norse Spirit </font><font style="font-family:Arial;font-size:10pt;">and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Dorset Spirit</font><font style="font-family:Arial;font-size:10pt;">, which commenced their respective long-term charter contracts in January and May 2018, respectively, with a group of companies that includes Canada Hibernia Holding Corporation, Chevron Canada, Exxon Mobil, Husky Energy, Mosbacher Operating Ltd., Murphy Oil, Nalcor Energy, Statoil and Suncor Energy. The </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Norse Spirit </font><font style="font-family:Arial;font-size:10pt;">and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Dorset Spirit </font><font style="font-family:Arial;font-size:10pt;">replaced existing owned and in-chartered vessels servicing the East Coast of Canada, both of which have been repositioned to the North Sea to operate in the Partnership&#8217;s contract of affreightment (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">CoA</font><font style="font-family:Arial;font-size:10pt;">) portfolio.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">8</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2018, Teekay Offshore took delivery of the last of four state-of-the-art SX-157 Ulstein Design ultra-long distance towing and offshore installation newbuildings, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">ALP Keeper</font><font style="font-family:Arial;font-size:10pt;">, constructed by Niigata Shipbuilding &amp; Repair in Japan.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Recontracting of FPSO units</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In April 2018, Teekay Offshore signed the previously-announced contract extension with Premier Oil to extend the employment of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Voyageur Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;FPSO on the Huntington field to at least April 2019. The new contract, which took effect in April 2018, will include a lower fixed charter rate component plus a component based on oil production and oil price.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">ALP Contract Award</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2018, ALP Maritime, Teekay Offshore's towage subsidiary, was awarded a contract to provide five vessels to perform mobilization and field installation services for the FPSO </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Kaombo Norte</font><font style="font-family:Arial;font-size:10pt;">. The contract commenced in mid-March 2018 and is expected to require approximately 330 vessel equivalent days to service the project.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;text-decoration:underline;">Financing Update</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In March 2018, Teekay Offshore refinanced its existing $250 million debt facility secured by its three East Coast Canada shuttle tankers with a new five-year $266 million debt facility. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In March 2018, Teekay Offshore entered into an 18-month $125 million unsecured revolving credit facility, of which $25 million is being provided by Teekay Parent and $100 million is being provided by Brookfield. The $125 million facility was undrawn as at March 31, 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Teekay Offshore has reached an agreement in principle with the lenders of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Arendal Spirit </font><font style="font-family:Arial;font-size:10pt;">UMS debt facility to extend the mandatory principal repayment date by one year to September 2019 in exchange for a partial principal repayment in September 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">(1) Excludes the impact of any potential liquidated damages relating to project delays and non-cash revenues. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">9</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sCAF1E91A8E98562381FC03F8B15FC8BF"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Liquidity</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">As at </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">March&#160;31, 2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, Teekay Parent had total liquidity of approximately $478.8 million (consisting of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$244.2 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of cash and cash equivalents and $234.6 million of undrawn revolving credit facilities) and, on a consolidated basis, Teekay had consolidated total liquidity (excluding Teekay Offshore) of approximately </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$1.0 billion</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(consisting of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$489.2 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of cash and cash equivalents and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$553.7 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of undrawn revolving credit facilities). </font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Conference Call</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">The Company plans to host a conference call on Thursday, </font><font style="font-family:Arial;font-size:10pt;">May&#160;17, 2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;at 2:00 p.m. (ET) to discuss its results for the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2018</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.  An accompanying investor presentation will be available on Teekay&#8217;s website at</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">prior to the start of the call.  All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options: </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">By dialing (800) 289-0438 or (647) 484-0478, if outside North America, and quoting conference ID code 2014882.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">By accessing the webcast, which will be available on Teekay&#8217;s website at </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(the archive will remain on the website for a period of one year).</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">An accompanying </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">First</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;Quarter 2018 Earnings Presentation will also be available at</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;">&#32;in advance of the conference call start time. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">About Teekay</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">T</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">eekay Corporation operates in the marine midstream space through its ownership of the general partner and a portion of the outstanding limited partner interests in Teekay LNG Partners L.P. (NYSE:TGP) and an interest in the general partner and a portion of the outstanding limited partner interests in Teekay Offshore Partners L.P. (NYSE:TOO). The general partners own all of the outstanding incentive distribution rights of these entities. In addition, Teekay has a controlling ownership interest in Teekay Tankers Ltd. (NYSE:TNK) and directly owns a fleet of vessels. The combined Teekay entities operate total assets under management of approximately $16.7 billion, comprised of approximately 220 liquefied gas, offshore, and conventional tanker assets. With offices in 14 countries and approximately 8,300 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world&#8217;s leading oil and gas companies.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay&#8217;s common stock is listed on the New York Stock Exchange where it trades under the symbol &#8220;TK&#8221;. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-weight:bold;">For Investor Relations enquiries contact:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Ryan Hamilton</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Tel:  +1 (604) 609-2963</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Website:</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;</font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">10</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Definitions and Non-GAAP Financial Measures</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">This release includes various financial measures that are non-GAAP financial measures as defined under the rules of the U.S. Securities and Exchange Commission. These non-GAAP financial measures, which include Cash Flow from Vessel Operations, Cash Flow from Vessel Operations - Consolidated, Cash Flow From Vessel Operations - Equity Investments, Adjusted Net Loss Attributable to Shareholders of Teekay, Teekay Parent GPCO Cash Flow, Teekay Parent OPCO Cash Flow, Teekay Parent Adjusted Cash Flow from Vessel Operations, Teekay Parent Free Cash Flow, Net Interest Expense and Adjusted Equity Income, are intended to provide additional information and should not be considered a substitute for measures of performance prepared in accordance with GAAP. In addition, these measures do not have standardized meanings across companies, and therefore may not be comparable to similar measures presented by other companies. The Company believes that certain investors use this information to evaluate the Company&#8217;s financial performance, as does management.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Non-GAAP Financial Measures</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Cash Flow from Vessel Operations</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">CFVO</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) represents income (loss) from vessel operations before depreciation and amortization expense, amortization of in-process revenue contracts, asset impairments, gains or losses on the sale of vessels and equipment and other operating assets and adjustments for direct financing leases to a cash basis, but includes realized gains or losses on the settlement of foreign currency forward contracts and a derivative charter contract. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">CFVO - Consolidated</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;represents CFVO from vessels that are consolidated on the Company&#8217;s financial statements. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">CFVO - Equity Investments </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">represents the Company&#8217;s proportionate share of CFVO from its equity-accounted vessels and other investments. The Company does not control its equity-accounted vessels and investments and as a result, the Company does not have the unilateral ability to determine whether the cash generated by its equity-accounted vessels and other investments is retained within the entities in which the Company holds the equity-accounted investment or distributed to the Company and other owners. In addition, the Company does not control the timing of such distributions to the Company and other owners. Consequently, readers are cautioned when using total CFVO as a liquidity measure as the amount contributed from </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">CFVO - Equity Investments</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;may not be available to the Company in the periods such CFVO is generated by its equity-accounted vessels and other investments. CFVO is a non-GAAP financial measure used by certain investors and management to measure the operational financial performance of companies. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendices C</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">E</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of this release for reconciliations of these non-GAAP financial measures to (loss) income from vessel operations and income (loss) from vessel operations of equity-accounted vessels, respectively, the most directly comparable GAAP measures reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Adjusted Net Loss Attributable to Shareholders of Teekay </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">excludes items of income or loss from GAAP net (loss) income that are typically excluded by securities analysts in their published estimates of the Company&#8217;s financial results. The Company believes that certain investors use this information to evaluate the Company&#8217;s financial performance, as does management. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendix A</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of this release for a reconciliation of this non-GAAP financial measure to net (loss) income, and refer to footnote (2) of the income statement for a reconciliation of adjusted equity income to equity income (loss), the most directly comparable GAAP measure reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Parent Financial Measures</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Adjusted Cash Flow from Vessel Operations </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">represents the sum of (a) distributions or dividends (including payments-in-kind) relating to a given quarter (but received by Teekay Parent in the following quarter) as a result of ownership interests in its consolidated publicly-traded subsidiaries (Teekay LNG and Teekay Tankers) and its equity-accounted investment in Teekay Offshore, net of Teekay Parent&#8217;s corporate general and administrative expenditures for the given quarter (collectively, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent GPCO Cash Flow</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) plus (b) CFVO attributed to Teekay Parent&#8217;s directly-owned and chartered-in assets (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent OPCO Cash Flow</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">). </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Free Cash Flow</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;represents </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Adjusted Cash Flow from Vessel Operations</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, less Teekay Parent&#8217;s net interest expense and dry-dock expenditures for the given quarter. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Net Interest Expense</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;includes interest expense, interest income and realized losses on interest rate swaps. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendices B</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">C, D</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">E </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">of this release for further details and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures reflected in the Company&#8217;s consolidated financial statements. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">11</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s7530BDC9EDE8573EB2BBF437CC613AFB"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Consolidated Statements of (Loss) Income</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:421px;"></td><td style="width:1px;"></td><td style="width:80px;"></td><td style="width:3px;"></td><td style="width:1px;"></td><td style="width:87px;"></td><td style="width:3px;"></td><td style="width:1px;"></td><td style="width:80px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="9" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Revenues</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">394,022</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">326,686</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">543,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Voyage expenses </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(85,877</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(24,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(50,797</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Vessel operating expenses </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(157,935</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(131,650</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(191,260</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Time-charter hire expense </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(19,411</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(22,787</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(38,772</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(63,116</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(143,030</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">General and administrative expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(24,183</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(17,509</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(31,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(13,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Net loss on sale of vessels, equipment and <br>  other operating assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(489</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4,427</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Restructuring charges</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2,138</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(42</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2,176</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Income from vessel operations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">66,655</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">81,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(54,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(49,163</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(70,355</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest income</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,677</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,373</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,481</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized and unrealized gain (loss) on</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;non-designated derivative instruments</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">9,426</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">4,319</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(6,475</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income (loss)</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(971</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">10,347</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income tax expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(465</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3,019</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Foreign exchange gain (loss)</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">22</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3,575</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2,904</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss on deconsolidation of Teekay Offshore</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(4)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1,600</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Other (loss) income &#8211; net</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)(5)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(915</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(48,812</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">295</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Net (loss) income</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(32,239</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">10,975</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Less: Net (income) loss attributable</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;to non-controlling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(10,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">6,953</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(56,231</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Net loss attributable to the  </font></div><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">&#160;&#160;shareholders of Teekay Corporation</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(25,286</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(45,256</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss per common share of Teekay Corporation</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;-     Basic </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.21</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.29</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.53</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;-     Diluted </font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.21</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.29</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#eef8fc;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(0.53</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Weighted-average number of common </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;shares outstanding  </font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;-     Basic </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">97,333,503</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">86,641,584</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">86,183,831</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;-     Diluted </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">97,333,503</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">86,641,584</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">86,183,831</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">12</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;background-color:#ffffff;color:#2e3337;">(1) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Realized and unrealized gains (losses) related to derivative instruments that are not designated as hedges for accounting purposes are included as a separate line item in the consolidated statements of (loss) income. The realized (losses) gains relate to the amounts the Company actually paid to settle such derivative instruments and the unrealized gains (losses) relate to the change in fair value of such derivative instruments, as detailed in the table below:</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:12px;"></td><td style="width:422px;"></td><td style="width:80px;"></td><td style="width:4px;"></td><td style="width:80px;"></td><td style="width:4px;"></td><td style="width:77px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="6" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized (losses) gains relating to:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,809</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,725</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(16,556</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Termination of interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">395</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">29</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(354</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Time-charter swaps</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">160</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">780</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Forward freight agreements</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(234</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,809</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,770</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(15,735</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Unrealized gains (losses) relating to:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">15,919</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">11,824</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,123</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(457</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">839</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Stock purchase warrants </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,684</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,385</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(243</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Time-charter swap</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(459</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Forward freight agreements</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">121</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">14,235</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,089</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,260</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Total realized and unrealized gains (losses) on non-designated derivative instruments</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,426</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,319</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(6,475</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">The Company&#8217;s proportionate share of items within equity income (loss) as identified in Appendix A of this release is detailed in the table below. By excluding these items from equity income (loss) as reflected in the consolidated statements of (loss) income, the Company believes the resulting adjusted equity income is a normalized amount that can be used to evaluate the financial performance of the Company&#8217;s equity-accounted investments. Adjusted equity income is a non-GAAP financial measure. </font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:120px;"></td><td style="width:296px;"></td><td style="width:85px;"></td><td style="width:4px;"></td><td style="width:85px;"></td><td style="width:4px;"></td><td style="width:85px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="6" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income (loss) </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(971</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,347</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Proportionate share of unrealized gains on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(19,477</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,680</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,075</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Other</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(i)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,532</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,203</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">762</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income adjusted for items in</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-style:italic;">&#160;Appendix A</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,172</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,552</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,034</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;padding-left:25px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Other for the three months ended March 31, 2018 includes the Company's proportionate share of the gain (loss) on sale of vessels, equipment and other operating assets in Teekay LNG's Exmar LPG joint venture, partially offset by the impairment of two shuttle tankers in Teekay Offshore, transaction fees relating to the historical amendment of certain interest rate swaps in Teekay Offshore, depreciation expense as a result of the change in the useful life and residual value estimates of certain of Teekay Offshore's shuttle tankers, a decrease in the deferred income tax asset for Teekay Offshore's Norwegian tax structure and the write-down of loans receivable from Gemini Tankers LLC. Other for the three months ended December 31, 2017 includes the Company&#8217;s proportionate share of the reduction in carrying value of amounts contingently owing to Sevan Marine ASA in relation to the original financing for its floating accommodation business subsequently sold to Teekay Offshore, partially offset by the settlement of an unrecognized license fee of Sevan Marine ASA that was previously in dispute, the impairment of two vessels in Teekay LNG's Exmar LPG joint venture, and a gain to reflect the revaluation of Teekay Tankers' and Teekay Parent's equity-accounted investment as at the date of the merger between Teekay Tankers and Tanker Investments Ltd. The Company's proportionate share of a gain on sale of a subsidiary in Sevan Marine ASA is included in the three months ended March 31, 2017.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Teekay LNG owns a 70 percent interest in the Teekay Nakilat Joint Venture, which was the lessee under three separate 30-year capital lease arrangements with a third party for the RasGas II LNG Carriers. Under the terms of the leases in respect of the RasGas II LNG Carriers, the lessor claimed tax depreciation on the capital expenditures it incurred to acquire these vessels and paid the lessee an upfront benefit in the amount of $60.9 million at the lease inception. As is typical in these leases, tax and change of law risks were assumed by the lessee, in this case the Teekay Nakilat Joint Venture. Lease payments were based on certain tax and financial assumptions at the commencement of the leases in 2006 and subsequently adjusted to maintain the lessor's agreed after-tax margin. On December&#160;22, 2014, the Teekay Nakilat Joint Venture terminated the leases of the RasGas II LNG Carriers; however, it remained obligated to the lessor for changes in tax treatment.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">13</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">HMRC has been challenging the use by third parties of similar lease structures in the UK courts. One of those challenges was eventually decided in favor of HMRC, with the lessor and lessee choosing not to appeal further. This case concluded that capital allowances were not available to the lessor.&#160;On the basis of this conclusion, HMRC is now asking lessees on other leases, including the Teekay Nakilat Joint Venture, to accept that capital allowances are not available to their lessors. Under the terms of the Teekay Nakilat Joint Venture lease, the lessor is entitled to make a determination that additional rentals are due, even where a court has not made a determination on whether capital allowances are available or where discussions are otherwise ongoing with HMRC on the matter (such that additional rentals paid may be rebated in due course if the final tax position is not as determined by the lessor). The Teekay Nakilat Joint Venture received initial indications from the lessor in April 2018, which were confirmed on May 10, 2018, that the lessor made a determination that additional rentals are due under the leases. As a result, the Teekay Nakilat Joint Venture recognized an additional tax indemnification guarantee liability of $53.0 million for a total liability of $65.6 million (46.9 million GBP) as at March 31, 2018, of which $3.0 million is included in other (loss) income and foreign exchange gain (loss) for the three months ended March 31, 2018 and $50.0 million is included in other (loss) income for the three months ended December 31, 2017. The Teekay Nakilat Joint Venture is in discussions with HMRC in relation to the correct tax treatment to be applied to the leases and with the lessor regarding the timing and amount of this potential liability for additional rentals. </font></div><div style="line-height:120%;text-align:justify;padding-left:24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">On September 25, 2017, Teekay, Teekay Offshore and </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Brookfield </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">finalized a strategic partnership (or the </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Brookfield Transaction</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">) which resulted in the deconsolidation of Teekay Offshore as of that date. On January 1, 2018, as a condition of the Brookfield Transaction, Teekay Offshore acquired a 100% ownership interest in seven subsidiaries (or the </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Transferred Subsidiaries</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">) of Teekay Corporation at carrying value. The Company recognized a loss on sale of the Transferred Subsidiaries of $7.1 million, primarily as a result of releasing the associated deferred pension loss from accumulated other comprehensive income which is recorded in loss on deconsolidation of Teekay Offshore on the Company's consolidated statements of (loss) income for the three months ended March&#160;31, 2018.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes a gain of $1.3 million for the three months ended December 31, 2017 from the sale of the Company's cost-accounted investment in the dry bulk shipping company CVI Ocean Transportation II Inc., a company developed in partnership with CarVal Investors in 2014. </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">14</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s0BA6F010AAD55C4B83A608248F67C9B2"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:13pt;"><font style="font-family:Arial;font-size:13pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:13pt;"><font style="font-family:Arial;font-size:13pt;color:#40b4e5;">Summary Consolidated Balance Sheets</font></div><div style="line-height:120%;padding-left:0px;font-size:10pt;"><font style="font-family:Arial;font-size:8.5pt;color:#2e3337;">(in thousands of U.S. dollars)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:418px;"></td><td style="width:129px;"></td><td style="width:4px;"></td><td style="width:128px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">As at March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">As at December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">ASSETS</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Cash and cash equivalents - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">244,205</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">129,772</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Cash and cash equivalents - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">197,007</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">244,241</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Cash and cash equivalents - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">47,962</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">71,439</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Other current assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">283,819</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">305,525</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Restricted cash - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">7,257</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Restricted cash - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">86,288</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">95,194</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Restricted cash - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,924</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,271</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Assets held for sale</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">28,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">33,671</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Vessels and equipment - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">328,748</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">337,318</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Vessels and equipment - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,602,182</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,461,219</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Vessels and equipment - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,942,139</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,965,514</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Advances on newbuilding contracts/conversions</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">407,211</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">444,493</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Investment in equity-accounted investees</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,129,297</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,130,198</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Investment in direct financing leases</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">493,622</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">495,990</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Other assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">238,057</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">229,631</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Intangible assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">89,218</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">93,014</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Goodwill</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">43,690</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">43,690</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">Total Assets</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">8,165,374</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">8,092,437</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">LIABILITIES AND EQUITY</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Accounts payable and accrued liabilities and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">256,996</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">320,339</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Advances from affiliates</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">48,441</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">49,100</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Current portion of long-term debt - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">81,748</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Current portion of long-term debt - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">606,818</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">659,350</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Current portion of long-term debt - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">160,737</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">173,972</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Long-term debt - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">686,149</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">585,663</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Long-term debt - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,254,138</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,150,191</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Long-term debt - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">931,609</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">927,238</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Derivative liabilities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">101,927</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">128,811</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Other long-term liabilities </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">134,448</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">136,369</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Equity:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Non-controlling interests</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,098,274</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,102,465</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Shareholders of Teekay</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">885,837</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">777,191</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">Total Liabilities and Equity</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">8,165,374</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">8,092,437</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Net debt - Teekay Parent</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">441,939</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">530,382</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Net debt - Teekay LNG</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,577,661</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,470,106</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Net debt - Teekay Tankers</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,040,460</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,025,500</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)   Net debt is a non-GAAP financial measure and represents current and long-term debt less cash and cash equivalents and, if applicable,                 </font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;restricted cash. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">15</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE0733FBBF5715A0F933EB1F8CB8DCD0D"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Consolidated Statements of Cash Flows</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:685px;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:473px;"></td><td style="width:101px;"></td><td style="width:3px;"></td><td style="width:101px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Cash, cash equivalents and restricted cash provided by (used for)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">OPERATING ACTIVITIES</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net (loss) income</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">10,975</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">143,030</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Amortization of in-process revenue contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4,017</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(6,907</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Unrealized gain on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(37,309</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(16,405</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Loss on sale of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">5,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">4,427</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">13,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Equity income, net of dividends received</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(26,369</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(10,347</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Income tax expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">4,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">3,019</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Loss on deconsolidation of Teekay Offshore</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Unrealized foreign exchange loss and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">33,714</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">21,566</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Change in operating assets and liabilities </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(11,635</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(32,588</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Expenditures for dry docking</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(8,454</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9,454</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Net operating cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">33,110</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">107,316</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">FINANCING ACTIVITIES</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Proceeds from issuance of long-term debt, net of issuance costs</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">263,920</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">215,938</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Prepayments of long-term debt</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(237,824</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(78,782</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Scheduled repayments of long-term debt</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(64,501</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(229,077</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Proceeds from financing related to sales and leaseback of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">126,273</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">220,825</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Repayments of obligations related to capital leases</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(15,246</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(13,485</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net proceeds from equity issuances of subsidiaries</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">8,843</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net proceeds from equity issuances of Teekay Corporation</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">103,696</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Distributions paid from subsidiaries to non-controlling interests</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(19,824</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(31,862</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Cash dividends paid</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5,514</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4,737</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Other financing activities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(524</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(521</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Net financing cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">150,456</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">87,142</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">INVESTING ACTIVITIES</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Expenditures for vessels and equipment</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(168,287</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(264,567</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Proceeds from sale of vessels and equipment</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">53,206</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Investment in equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(19,604</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(13,535</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Advances to joint ventures and joint venture partners</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(26,314</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Proceeds from sale of equity-accounted investment</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">54,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Cash of transferred subsidiaries on sale, net of proceeds received</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(25,254</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Other investing activities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">2,367</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">7,048</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Net investing cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(156,349</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(244,162</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Increase (decrease) in cash, cash equivalents and restricted cash</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">27,217</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(49,704</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Cash, cash equivalents and restricted cash, beginning of the period</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">552,174</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">805,242</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Cash, cash equivalents and restricted cash, end of the period</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">579,391</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">755,538</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">16</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE8A46C8CCA715E4D8B0F57FC9110626D"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix A - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Adjusted Net Loss</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(in thousands of U.S. dollars, except per share data)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="14"></td></tr><tr><td style="width:2%;"></td><td style="width:41%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="12" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$ Per </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$ Per </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$ Per </font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$ </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">$</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Net (loss) income &#8211; GAAP basis</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(32,239</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,975</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Adjust for: Net (income) loss attributable to</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;non-controlling interests </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(10,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,953</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(56,231</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Net loss attributable to</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">shareholders of Teekay </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.21</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(25,286</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.29</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(45,256</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.53</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">Add (subtract) specific items affecting net </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">(loss) income : </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Unrealized gains from derivative instruments</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(34,452</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.35</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(15,785</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.18</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(11,402</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.13</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Foreign exchange (gains) losses </font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,399</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,536</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,509</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.04</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Net loss (gain) on sale of vessels, equipment and <br>     other operating assets</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(4)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">669</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,935</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,427</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.05</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Asset impairments</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(5)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">16,170</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.17</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,500</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.06</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Restructuring charges (recoveries)</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(6)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,138</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(52</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,611</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.03</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Tax indemnification guarantee liability</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(7)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">600</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">50,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.57</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Loss on deconsolidation of Teekay Offshore</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(8)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.07</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,600</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Other</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(9)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,050</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.04</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,694</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.07</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">579</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Non-controlling interests&#8217; share of items above</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(10)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,385</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.06</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(30,772</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(0.36</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">16,879</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.20</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Total adjustments </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,231</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.02</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">15,786</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.18</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,585</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.12</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Adjusted net loss attributable to</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;font-weight:bold;">shareholders of Teekay </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(18,324</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.19</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(9,500</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.11</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(35,671</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(0.41</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;padding-left:36px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Basic per share amounts.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Reflects the unrealized gains relating to the change in the mark-to-market value of derivative instruments that are not designated as hedges for accounting purposes, including those investments included in the Company's proportionate share of equity income (loss) from joint ventures, and hedge ineffectiveness from derivative instruments designated as hedges for accounting purposes. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Foreign currency exchange (gains) losses primarily relate to the Company&#8217;s debt denominated in Euros and Norwegian Kroner (</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">NOK</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">) and unrealized losses on cross currency swaps used to economically hedge the principal and interest on NOK bonds. Nearly all of the Company&#8217;s foreign currency exchange gains and losses are unrealized.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Also includes the Company's proportionate share of net loss (gain) on sale of vessels, equipment and other operating assets in equity-accounted joint ventures for the three months ended March 31, 2018 and December 31, 2017 (refer to footnote (2) of the summary consolidated statements of (loss) income included in this release for further details).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Also includes the Company's proportionate share of asset impairments in the Company's investment in Teekay Offshore and in the Company's equity-accounted joint ventures for the three months ended March 31, 2018 and December 31, 2017 (refer to footnote (2) of the summary consolidated statements of (loss) income included in this release for further details).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(6)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Also includes the Company's proportionate share of restructuring costs (recoveries) in an equity-accounted joint venture for the three months ended March 3</font><font style="font-family:Arial;font-size:8pt;color:#424242;">1, 2017 and December 31, 2017.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(7)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Reflects </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">an additional tax indemnification guarantee liability in Teekay LNG's 70 percent-owned Teekay Nakilat Joint Venture for the three months ended March 31, 2018 and December 31, 2017 (refer to footnote (3) of the summary consolidated statements of (loss) income included in this release for further details).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(8)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Refer to footnote (4) of the summary consolidated statements of (loss) income included in this release for further details.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">17</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Other includes </font><font style="font-family:Arial;font-size:8pt;color:#424242;">the Company's proportionate share of change to </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">depreciation expense, </font><font style="font-family:Arial;font-size:8pt;color:#424242;">interest rate swap termination fees </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">and a decrease in the deferred income tax asset </font><font style="font-family:Arial;font-size:8pt;color:#424242;">in the Company's investment in Teekay Offshore </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">for the three months ended March 31, 2018 (refer to footnote (2) of the summary consolidated statements of (loss) income included in this release for further details). Other also includes a</font><font style="font-family:Arial;font-size:8pt;color:#424242;">djustments to deferred taxes relating to a decrease in the valuation allowances related to certain Norwegian entities for the three months ended March 31, 2018. Other also includes </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">a gain from the sale of one of the Company's cost-accounted investments for the three months ended December 31, 2017 (refer to footnote (5) of the summary consolidated statements of (loss) income included in this release for further details).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(10)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Items affecting net loss include items from the Company&#8217;s consolidated non-wholly-owned subsidiaries. The specific items affecting net loss are analyzed to determine whether any of the amounts originated from a consolidated non-wholly-owned subsidiary. Each amount that originates from a consolidated non-wholly-owned subsidiary is multiplied by the non-controlling interests&#8217; percentage share in this subsidiary to determine the non-controlling interests&#8217; share of the amount. The amount identified as &#8220;Non-controlling interests&#8217; share of items above&#8221; in the table above is the cumulative amount of the non-controlling interests&#8217; proportionate share of items listed in the table. </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">18</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s522F64426F045CE78C5CFAFAD0A50703"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix B - Supplemental Financial Information</font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Statement of Income (Loss) for the Three Months Ended </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">March&#160;31, 2018</font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">&#32;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:2%;"></td><td style="width:44%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Consolidation </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">LNG </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Tankers</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Parent</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Adjustments</font><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Revenues </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">115,306</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">168,465</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">117,914</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,663</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">394,022</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Voyage expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,801</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(79,993</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(258</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">175</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(85,877</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Vessel operating expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(28,467</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(52,995</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(75,993</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(480</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(157,935</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Time-charter hire expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,683</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(22,707</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">7,979</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(19,411</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(29,267</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(29,430</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(8,614</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">General and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(6,571</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(9,785</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,816</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(11</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(24,183</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(13,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(13,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Net loss on sale of vessels, equipment and</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">other operating assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Restructuring charges </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,396</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(742</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,138</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Income (loss) from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,142</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(8,421</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,784</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(24,706</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(12,729</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(17,261</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">71</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(54,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest income </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">914</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">676</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(71</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,677</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized and unrealized gain (loss)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">on derivative instruments   </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,001</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,013</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,588</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,426</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">26,724</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">694</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(301</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity in earnings of subsidiaries</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,713</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,713</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income tax expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(779</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,878</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,460</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Foreign exchange (loss) gain</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,273</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,714</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,399</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">22</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:top;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss on deconsolidation of Teekay Offshore</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Other (loss) income &#8211; net</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,582</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">30</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(762</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,399</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(915</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Net income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">31,441</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(19,153</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20,555</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,713</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Less: Net income attributable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">to non-controlling interests</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,335</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,240</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(10,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Net income (loss) attributable to shareholders/</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">unitholders of publicly-listed entities</font></div><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">28,106</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(19,153</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(8,953</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Consolidation Adjustments column includes adjustments which eliminate transactions between subsidiaries (a) Teekay LNG and Teekay Tankers and (b) Teekay Parent.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Teekay Corporation&#8217;s proportionate share of the net earnings of its publicly-traded subsidiaries. Refer to footnote (2) of the summary consolidated statements of income (loss) included in this release for further details.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net income attributable to non-controlling interests in the Teekay LNG column represents the joint venture partners&#8217; share of the net income or loss of its respective consolidated joint ventures.  Net income attributable to non-controlling interest in the Consolidation Adjustments column represents the public&#8217;s share of the net income of Teekay&#8217;s publicly-traded consolidated subsidiaries.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">19</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA2CA489DFB805552B427A68B1A3388CE"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix C - Supplemental Financial Information </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Parent Summary Operating Results </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">For the Three Months Ended </font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">March&#160;31, 2018</font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(unaudited)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:52%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Corporate </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">FPSOs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Other</font><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">G&amp;A</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Total </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">65,970</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">51,944</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">117,914</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Voyage expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(172</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(86</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(258</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Vessel operating expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(35,913</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(40,080</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(75,993</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Time-charter hire expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(11,487</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(11,220</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(22,707</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(8,594</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(8,614</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">General and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,922</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">753</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,647</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(7,816</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Restructuring charges</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(742</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(742</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Income (loss) from vessel operations </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,882</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">549</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,647</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,784</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td></tr><tr><td colspan="9" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Reconciliation of income (loss) from vessel operations to cash flow from vessel operations</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Income (loss) from vessel operations </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,882</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">549</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,647</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,784</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,594</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">20</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,614</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Amortization of in-process revenue </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;&#160;&#160;contracts and other </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,938</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">423</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,515</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO - Consolidated</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,538</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">992</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,647</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,883</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO - Equity Investments</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(336</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">19,910</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">19,574</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO - Total </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">13,202</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">20,902</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(5,647</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">28,457</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes the results of two chartered-in LNG carriers owned by Teekay LNG and two chartered-in FSO units owned by Teekay Offshore.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">In addition to the CFVO generated by its directly owned and chartered-in assets, Teekay Parent also receives cash dividends and distributions from its consolidated publicly-traded subsidiaries, Teekay LNG and Teekay Tankers, and for its equity-accounted investment in Teekay Offshore.  For the three months ended </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">March&#160;31, 2018</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">, Teekay Parent received cash distributions and dividends from these entities totaling </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$4.3 million</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">. The distributions and dividends received by Teekay Parent include, among others, those made with respect to its general partner interests in Teekay Offshore and Teekay LNG.  Please refer to </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendix D</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;this release for further details.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Please see </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendix E </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">to this release for a reconciliation of this non-GAAP financial measure as used in this release to equity income (loss) of equity accounted vessels, the most directly comparable GAAP financial measure.</font></div></td></tr></table><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">20</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s76A23C62425B5F3E9B1009F4B3A7A37D"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix D - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Parent Free Cash Flow </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:0%;"></td><td style="width:58%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY PARENT GPCO CASH FLOW </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Daughter Entities distributions to Teekay Parent</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Limited Partner interests</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">566</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">566</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,624</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;GP interests </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">16</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">16</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">336</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Other Dividends </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Tankers</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,319</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,276</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(4)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">683</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Total Daughter Entity Distributions</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,339</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,658</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,676</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Less: Corporate general and </font><font style="font-family:Arial;font-size:9pt;color:#2e3337;">administrative expenses</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,647</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,989</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,956</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Total Parent GPCO Cash Flow </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(1,308</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">2,669</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">4,720</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY PARENT OPCO CASH FLOW </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Parent cash flow from vessel operations</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(5)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;Conventional Tankers</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(6)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,866</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,459</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;FPSOs</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,538</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,085</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,830</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;Other</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(7)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">992</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,893</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(6,040</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Parent OPCO Cash Flow</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(8)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">14,530</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">13,112</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(13,329</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Parent Adjusted Cash Flow from Vessel Operations</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">13,222</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">15,781</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(8,609</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Less:  Net interest expense</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(9)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(16,434</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(16,502</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(12,362</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TOTAL TEEKAY PARENT FREE CASH FLOW</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(3,212</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(721</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(20,971</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Weighted-average number of common shares - Basic </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">97,333,503</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">86,641,584</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">86,183,831</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Daughter Entities dividends and distributions for a given quarter consists of the amount of dividends and distributions (including payments-in-kind) relating to such quarter but received by Teekay Parent in the following quarter. The limited partner and general partner distributions received from Teekay Offshore for the quarter ended March 31, 2017 were paid-in-kind in the form of new Teekay Offshore common units.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">21</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Common share/unit dividend/distribution cash flows to Teekay Parent are based on Teekay Parent&#8217;s ownership on the ex-dividend date for the respective publicly-traded subsidiary and equity-accounted investment in Teekay Offshore for the periods as follows:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:404px;"></td><td style="width:16px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:16px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:16px;"></td><td style="width:73px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Distribution per common unit </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Common units owned by  </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Parent </font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total distribution </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Offshore </font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Distribution per common unit </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.11</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Common units owned by  </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Parent </font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">56,587,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">56,587,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">42,037,728</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total distribution </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">565,875</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">565,875</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,624,150</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Tankers </font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Dividend per share </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.03</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.03</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Shares owned by Teekay Parent</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,298,441</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,298,441</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">42,542,403</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total dividend </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,318,953</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,276,272</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes Class A and Class B shareholdings. Teekay Tankers' dividend policy was to pay out 30 percent to 50 percent of its quarterly adjusted net income (as defined) with a minimum quarterly dividend of $0.03 per share, subject to Board approval. Commencing with the dividend for the first quarter of 2018, Teekay Tankers' Board eliminated the minimum quarter dividend; however, the variable portion of the dividend policy was maintained.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes distributions from Teekay Parent's interest in Teekay Offshore's 10.5% Series D Preferred Units acquired in June 2016. The distributions received for the quarter ended March 31, 2017 were paid-in-kind in the form of new Teekay Offshore common units. All outstanding Series D Preferred Units were repurchased by Teekay Offshore in September 2017 as part of the Brookfield Transaction.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Please refer to </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendices C</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">E</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;for additional financial information on Teekay Parent&#8217;s cash flow from vessel operations.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(6)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes early termination fees totaling $1.6 million paid to the owners in the three months ended December 31, 2017 related to the termination of two bareboat contracts. Includes an early termination fee paid to Teekay Offshore of $4.0 million for the year ended December 31, 2016 related to the early termination of the in-charter contract on the </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Kilimanjaro Spirit</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;conventional tanker.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(7)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes $0.9 million for the three months ended March 31, 2017 relating to 50 percent of the CFVO from Teekay Tanker Operations Ltd. (</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">TTOL</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">). Teekay Parent owned 50 percent of TTOL for the period up to May 31, 2017, when Teekay Tankers purchased the remaining 50 percent of TTOL from Teekay Parent. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(8)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Excludes corporate general and administrative expenses relating to Teekay Parent GPCO Cash Flow. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(9)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Please see </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendix E</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;to this release for a description of this measure and a reconciliation of this non-GAAP financial measure as used in this release to interest expense net of interest income, the most directly comparable GAAP financial measure.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">22</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE21C39B0ABB05FC89CAB4EF4F4CFF546"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Non-GAAP Financial Reconciliations</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">23</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div><a name="s14990185137E5AFEBBA12F45B3926138"></a></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Cash Flow from Vessel Operations - Consolidated </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:16px;"></td><td style="width:372px;"></td><td style="width:92px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:94px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income from vessel operations </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">66,655</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">81,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">63,116</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">143,030</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Amortization of in-process revenue contracts and other </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,469</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,655</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,715</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized (losses) gains from the settlements of non-designated  </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">derivative instruments </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(45</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">426</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairment</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,000</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Net loss on sale of vessels, equipment and other operating assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">489</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,427</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Cash flow from time-charter contracts, net of revenue accounted for </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">as direct finance leases </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,887</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,142</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">7,015</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO - Consolidated </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">104,896</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">128,702</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">230,788</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO - Equity Investments (see </font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-style:italic;font-weight:bold;">Appendix E)</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">63,468</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">54,884</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">44,188</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">CFVO &#8211; Total </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">168,364</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">183,586</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">274,976</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">24</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sBE5CD27CF04554398001D8714E10B8BB"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Cash Flow from Vessel Operations &#8211; Equity-Accounted Vessels </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:686px;border-collapse:collapse;text-align:left;"><tr><td colspan="14"></td></tr><tr><td style="width:16px;"></td><td style="width:220px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="12" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended  </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March&#160;31, 2018</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December&#160;31, 2017</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Company's </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Company's </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Company's </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Portion</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Portion</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Portion</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Revenues </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">466,765</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">111,857</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">443,685</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">105,986</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">180,086</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">73,260</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Vessel and other operating expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(235,911</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(52,053</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(230,168</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(54,027</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(76,600</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(31,388</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(125,756</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(27,181</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(125,368</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(28,329</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(40,395</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(17,524</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(24,979</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,518</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(10,852</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,479</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss on sale of vessels</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(514</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(257</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income from vessel operations of </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">equity-accounted vessels </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">79,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">28,848</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,297</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">18,151</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">63,091</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">24,348</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Interest expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(75,131</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20,841</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(73,187</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(18,909</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(28,026</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(11,786</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized and unrealized gain (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">on derivative instruments </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">65,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">14,588</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,494</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">2,563</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,357</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(463</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Gain on sale of equity-accounted</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">investment</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,563</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Other &#8211; net </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,843</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,041</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(12,156</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,776</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,638</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,752</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Equity income (loss) of equity- <br>   accounted vessels</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">72,297</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">27,117</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,448</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(971</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">30,070</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,347</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:2px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Income from vessel operations of </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">equity-accounted vessels </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">79,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">28,848</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,297</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">18,151</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">63,091</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">24,348</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">125,756</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">27,181</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">125,368</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">28,329</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">40,395</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">17,524</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">24,979</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,518</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">10,852</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">5,479</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Loss on sale of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">514</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">257</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized gains from the settlement</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">of non-designated foreign currency</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">431</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">61</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">490</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">69</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Cash flow from time-charter contracts, </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">net of revenue accounted for as </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">direct finance leases </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,773</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,665</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">11,914</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,984</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,476</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,421</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Amortization of in-process revenue</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">contracts and other </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(6,190</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,062</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,991</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,128</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,541</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,105</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Cash flow from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">of equity-accounted vessels</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(4)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">238,868</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">63,468</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">219,930</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">54,884</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">110,421</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">44,188</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1) The Company&#8217;s proportionate share of its equity-accounted vessels and other investments, including its investment in Teekay Offshore, ranges from 14 percent to 52 percent.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2) On May 31, 2017, Teekay Tankers acquired from Teekay Parent the remaining 50% interest in TTOL. As a result of the acquisition, the financial information for Teekay Tankers prior to the date that Teekay Tankers acquired interests in TTOL are retroactively adjusted to include the results of TTOL during the periods they were under common control of Teekay and had begun operations. As a result, TTOL's results are no longer included in this table.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3) On January 31, 2018, Teekay LNG sold its 50% ownership interest in the Excelsior Joint Venture, which resulted in gain of $5.6 million for the three months ended March 31, 2018.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4) CFVO from equity-accounted vessels represents the Company&#8217;s proportionate share of CFVO from its equity-accounted vessels and other investments.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">25</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4C6DEDCE269A5F06A17BD33D0F1A2A72"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Cash Flow from Vessel Operations - Teekay Parent </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="16"></td></tr><tr><td style="width:9px;"></td><td style="width:240px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended December 31, 2017<br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Conventional</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Corporate</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Tankers</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">FPSOs</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">G&amp;A</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Teekay Parent (loss) income from<br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(4,866</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">6,228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,082</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(3,989</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,455</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,601</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">35</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">8,636</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Amortization of in-process revenue</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,773</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">776</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(997</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized gains from the settlements</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">of non-designated foreign currency </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">derivative instruments</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">29</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">29</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Cash flow from vessel</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">operations &#8211;  Teekay Parent</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(4,866</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">13,085</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">4,893</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(3,989</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">9,123</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="16"></td></tr><tr><td style="width:9px;"></td><td style="width:240px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:78px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended March 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="14" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Conventional</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Corporate</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Tankers</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">FPSOs</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">G&amp;A</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Teekay Parent loss from</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(2,459</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(20,411</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,981</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,956</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(34,807</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">17,319</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(44</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">17,275</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Amortization of in-process</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">revenue contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,484</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(15</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,499</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized losses from the settlements</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">of non-designated foreign currency</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">derivative instruments</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(254</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(254</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Cash flow from vessel</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">operations &#8211; Teekay Parent</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(2,459</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(4,830</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(6,040</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(5,956</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">(19,285</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">26</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE2A32151E337563D89A7A49308B56AB3"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Net Interest Expense - Teekay Parent </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:338px;"></td><td style="width:84px;"></td><td style="width:4px;"></td><td style="width:84px;"></td><td style="width:4px;"></td><td style="width:84px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Interest expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(54,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(49,163</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(70,355</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Interest income </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,677</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,373</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">1,481</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Interest expense net of interest income consolidated </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(52,948</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(47,790</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(68,874</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Less: Non-Teekay Parent interest expense net of</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">interest income and adjustment<br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(36,363</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(31,903</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(57,282</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Interest expense net of interest income - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(16,585</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(15,887</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(11,592</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Less: Teekay Parent non-cash accretion on convertible bond</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">673</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Add: Teekay Parent realized losses on interest rate swaps</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(522</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(615</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(770</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">Net interest expense - Teekay Parent </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(16,434</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(16,502</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">(12,362</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">27</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s5B774B1ED02E5183860B0013FC008085"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Forward Looking Statements </font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management&#8217;s current views with respect to certain future events and performance, including: the benefit to the Company&#8217;s future financial results and balance sheet from the delivery of the remaining offshore and LNG projects over the next few years; LNG, offshore and crude oil tanker market fundamentals, including demand for our services; the ability of the Company&#8217;s businesses to benefit from the recovery of such markets; the cash flow impact from Teekay Parent&#8217;s FPSOs, including the impact on the Company&#8217;s balance sheet; the strategic options available for Teekay Parent&#8217;s FPSO units, including a potential sale of the FPSO units; the timing and cost of delivery and start-up of various newbuildings and conversion/upgrade projects and the commencement of related contracts; potential tax indemnification liabilities relating to the Teekay Nakilat Joint Venture; the impact of Teekay Tankers&#8217; expected sale-leaseback financing transaction on its liquidity and future debt maturity profile; the expected cash flow from vessel operations relating to the employment of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I</font><font style="font-family:Arial;font-size:10pt;">&#32;FPSO unit on the Atlanta field; the expected duration of the mobilization and field installation services to be performed by the ALP Maritime vessels for the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Kaombo Norte</font><font style="font-family:Arial;font-size:10pt;">&#32;FPSO;  and the possibility of liquidated damages relating to project delays associated with </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl I</font><font style="font-family:Arial;font-size:10pt;">&#32;FPSO unit;</font><font style="font-family:Times New Roman;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;">the extension of the Arendal Spirit UMS loan facility;. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: changes in exploration, production and storage of offshore oil and gas, either generally or in particular regions that would impact expected future growth, particularly in or related to North Sea, Brazil and East Coast of Canada offshore fields; changes in the demand for oil, refined products, LNG or LPG; changes in trading patterns significantly affecting overall vessel tonnage requirements; greater or less than anticipated levels of vessel newbuilding orders and deliveries and greater or less than anticipated rates of vessel scrapping; changes in global oil prices; issues with vessel operations; variations in expected levels of field maintenance; increased operating expenses; potential project delays or cancellations; vessel conversion and upgrade delays, newbuilding or conversion specification changes, cost overruns, or shipyard disputes; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations; the potential for early termination of long-term contracts of existing vessels; delays in the commencement of charter or other contracts; the ability to fund remaining capital commitments and debt maturities; the Daughter Entities&#8217; ability to secure or draw on financings for its vessels; the result of discussions and any negotiations relating to the potential sale of FPSO units by Teekay Parent; the effects on the Teekay Nakilat Joint Venture of decision on tax indemnification liabilities and determinations of the lessor under the RasGas II LNG carrier leases;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#32;</font><font style="font-family:Arial;font-size:10pt;">and other factors discussed in Teekay&#8217;s filings from time to time with the SEC, including its Report on Form 20-F for the fiscal year ended December 31, 2017. Teekay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Teekay&#8217;s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">28</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
