XML 61 R54.htm IDEA: XBRL DOCUMENT v3.10.0.1
Long-Term Debt Narrative (Details)
$ / shares in Units, € in Millions, shares in Millions
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jan. 31, 2018
USD ($)
Jan. 27, 2010
USD ($)
Jul. 31, 2018
USD ($)
Nov. 30, 2015
USD ($)
Jun. 30, 2018
USD ($)
vessel
SecurityLoan
term_loan
$ / shares
shares
Mar. 31, 2018
USD ($)
Jun. 30, 2017
USD ($)
Jun. 30, 2018
USD ($)
subsidiary
vessel
SecurityLoan
term_loan
$ / shares
shares
Jun. 30, 2017
USD ($)
Dec. 31, 2017
USD ($)
vessel
Dec. 31, 2014
USD ($)
Jun. 30, 2018
NOK (kr)
vessel
SecurityLoan
term_loan
shares
Jun. 30, 2018
EUR (€)
vessel
SecurityLoan
term_loan
shares
Jan. 26, 2018
USD ($)
$ / shares
Dec. 31, 2017
EUR (€)
vessel
May 31, 2015
NOK (kr)
Debt Instrument [Line Items]                                
Repayments of senior debt           $ 6,800,000                    
Long-term debt, gross         $ 3,398,442,000     $ 3,398,442,000   $ 3,449,611,000            
Long-term Debt         3,349,333,000     3,349,333,000   $ 3,417,705,000            
Foreign exchange gain (loss) (notes 8 and 14)         $ 12,529,000   $ (17,342,000) $ 12,551,000 $ (20,246,000)              
Weighted average interest rate, at point in time         5.00%     5.00%   4.30%   5.00% 5.00%   4.30%  
Remainder of fiscal year         $ 400,000,000     $ 400,000,000                
2019         300,000,000     300,000,000                
2020         1,100,000,000     1,100,000,000                
2021         800,000,000     800,000,000                
2022         200,000,000     200,000,000                
Thereafter         $ 600,000,000     $ 600,000,000                
Number of loan agreements | SecurityLoan         7     7       7 7      
Minimum                                
Debt Instrument [Line Items]                                
Vessel market value to loan ratio         126.00%     126.00%       126.00% 126.00%      
Vessel market value to loan required ratio         105.00%     105.00%       105.00% 105.00%      
Undrawn revolving credit facilities time to maturity               6 months                
Maximum                                
Debt Instrument [Line Items]                                
Vessel market value to loan ratio         183.00%     183.00%       183.00% 183.00%      
Vessel market value to loan required ratio         135.00%     135.00%       135.00% 135.00%      
Term Loan One                                
Debt Instrument [Line Items]                                
Minimum level of free cash maintained per loan agreements         $ 100,000,000     $ 100,000,000                
Term Loan One | Minimum                                
Debt Instrument [Line Items]                                
Free liquidity and undrawn revolving credit line as percentage of debt         7.50%     7.50%       7.50% 7.50%      
Term Loan Two                                
Debt Instrument [Line Items]                                
Minimum level of free cash maintained per loan agreements         $ 50,000,000     $ 50,000,000                
Term Loan Two | Minimum                                
Debt Instrument [Line Items]                                
Free liquidity and undrawn revolving credit line as percentage of debt         5.00%     5.00%       5.00% 5.00%      
Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Minimum level of free cash maintained per loan agreements         $ 50,000,000     $ 50,000,000                
Revolving Credit Facilities | Minimum                                
Debt Instrument [Line Items]                                
Free liquidity and undrawn revolving credit line as percentage of debt         5.00%     5.00%       5.00% 5.00%      
Secured Debt                                
Debt Instrument [Line Items]                                
Long-term debt, gross         $ 1,400,000,000     $ 1,400,000,000   $ 1,400,000,000            
Number of debt instruments | term_loan               11                
Number of debt instruments with balloon or bullet payments | term_loan         9     9       9 9      
Number of vessels held as collateral | vessel         26     26   22   26 26   22  
Secured Debt | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Number of debt instruments | term_loan               1                
Secured Debt | Remaining Term Loans                                
Debt Instrument [Line Items]                                
Debt instrument, interest rate, stated percentage         5.37%     5.37%       5.37% 5.37%      
Secured Debt | Remaining Term Loans | Fixed Rate                                
Debt Instrument [Line Items]                                
Number of debt instruments | term_loan               1                
Secured Debt | Remaining Term Loans | Three Month London Interbank Offered Rate | Minimum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               0.30%                
Secured Debt | Remaining Term Loans | Three Month London Interbank Offered Rate | Maximum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt                   3.25%            
Senior Notes (8.5%) due January 15, 2020                                
Debt Instrument [Line Items]                                
Long-term debt, percentage bearing fixed interest, percentage rate   8.50%   8.50% 8.50% 8.50%   8.50%       8.50% 8.50%      
Debt instrument, principal amount   $ 450,000,000   $ 200,000,000                        
Percentage of par at which notes sold   99.20%   99.01%                        
Debt instrument, interest rate, effective percentage         8.67%     8.67%       8.67% 8.67%      
Repayments of senior debt                     $ 57,300,000          
Debt instrument, redemption price, percentage               100.00%                
Discount rate for redemption feature               50.00%                
Long-term debt, gross         $ 585,841,000     $ 585,841,000   $ 592,657,000            
Convertible Debt | Convertible Senior Notes due 2023                                
Debt Instrument [Line Items]                                
Debt instrument, convertible, conversion price | $ / shares                           $ 11.70    
Initial conversion price premium 20.00%                              
Sale of stock, price per share (in USD per share) | $ / shares                           9.75    
Norwegian Kroner Denominated Bonds Due Through October 2021                                
Debt Instrument [Line Items]                                
Long-term debt, gross         380,491,000     380,491,000   377,856,000            
Euro-denominated Term Loans due through 2023                                
Debt Instrument [Line Items]                                
Long-term debt, gross         $ 217,621,000     $ 217,621,000   232,957,000            
Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Number of credit facilities | term_loan         7     7       7 7      
Credit facility, maximum borrowing capacity         $ 1,194,827,883.76     $ 1,194,827,883.76                
Line of credit facility, remaining borrowing capacity         500,000,000     500,000,000                
Line of Credit, reduction of available borrowing capacity, remainder of fiscal year         480,300,000     480,300,000                
Line of Credit, reduction of available borrowing capacity, year two         52,600,000     52,600,000                
Line of Credit, reduction of available borrowing capacity, year three         53,600,000     53,600,000                
Line of Credit, reduction of available borrowing capacity, year four         347,300,000     347,300,000                
Line of Credit, reduction of available borrowing capacity, thereafter         $ 261,000,000     $ 261,000,000                
Debt instrument, collateral, number of vessels | vessel         50     50       50 50      
Long-term debt, gross         $ 679,141,000     $ 679,141,000   $ 877,343,000            
Revolving Credit Facilities | Minimum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               1.25%   0.45%            
Revolving Credit Facilities | Maximum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               4.00%   4.00%            
Revolving Credit Facilities | Secured Debt                                
Debt Instrument [Line Items]                                
Credit facility, maximum borrowing capacity         200,000,000     $ 200,000,000                
Teekay Offshore | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Credit facility, maximum borrowing capacity           $ 125,000,000                    
Teekay LNG                                
Debt Instrument [Line Items]                                
Minimum level of free cash maintained per loan agreements         35,000,000.0     35,000,000.0                
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October 2021 | Nibor Loan                                
Debt Instrument [Line Items]                                
Debt instrument, principal amount | kr                               kr 3,100,000,000
Unsecured debt | kr                       kr 3,100,000,000        
Senior notes         380,500,000     380,500,000                
Notional amount         $ 430,500,000     $ 430,500,000                
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October 2021 | Nibor Loan | Minimum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               3.70%                
Fixed interest rate         5.92%     5.92%       5.92% 5.92%      
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October 2021 | Nibor Loan | Maximum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               6.00%                
Fixed interest rate         7.72%     7.72%       7.72% 7.72%      
Teekay LNG | Euro-denominated Term Loans due through 2023                                
Debt Instrument [Line Items]                                
Number of debt instruments | term_loan               2                
Number of vessels held as collateral | vessel         2     2       2 2      
Long-term Debt         $ 217,600,000     $ 217,600,000   $ 233,000,000     € 186.2   € 194.1  
Number of subsidiaries | subsidiary               1                
Teekay LNG | Euro-denominated Term Loans due through 2023 | Minimum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               0.60%                
Teekay LNG | Euro-denominated Term Loans due through 2023 | Maximum                                
Debt Instrument [Line Items]                                
Minimum variable interest rate on debt               2.25%                
Teekay Tankers                                
Debt Instrument [Line Items]                                
Minimum level of free cash maintained per loan agreements         $ 35,000,000     $ 35,000,000                
Teekay Tankers | Minimum                                
Debt Instrument [Line Items]                                
Free liquidity and undrawn revolving credit line as percentage of debt         5.00%     5.00%       5.00% 5.00%      
Teekay Tankers | Long-term Debt                                
Debt Instrument [Line Items]                                
Debt guaranteed         $ 226,800,000     $ 226,800,000                
Securities Pledged as Collateral | Teekay Offshore | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Common unit, issued | shares         38.2     38.2       38.2 38.2      
Securities Pledged as Collateral | Teekay LNG | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Common unit, issued | shares         25.2     25.2       25.2 25.2      
Class A common stock | Securities Pledged as Collateral | Teekay Tankers | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Common unit, issued | shares         16.8     16.8       16.8 16.8      
Common Stock | Convertible Debt | Convertible Senior Notes due 2023                                
Debt Instrument [Line Items]                                
Dividends payable, amount per share (in USD per share) | $ / shares                           $ 0.055    
Teekay Parent | Convertible Debt | Convertible Senior Notes due 2023                                
Debt Instrument [Line Items]                                
Debt instrument, principal amount                           $ 125,000,000    
Debt instrument, interest rate, stated percentage                           5.00%    
Proceeds from convertible debt $ 104,600,000                              
Debt instrument, convertible term 5 years                              
Debt instrument, convertible, carrying amount of equity component                           $ 16,100,000    
Teekay Parent | Teekay Offshore | Revolving Credit Facilities                                
Debt Instrument [Line Items]                                
Credit facility, maximum borrowing capacity           $ 25,000,000                    
Teekay Parent | Common Stock                                
Debt Instrument [Line Items]                                
Sale of stock, price per share (in USD per share) | $ / shares         $ 9.75     $ 9.75                
Subsequent Event | Senior Notes (8.5%) due January 15, 2020                                
Debt Instrument [Line Items]                                
Long-term debt, percentage bearing fixed interest, percentage rate     8.50%                          
Repayments of senior debt     $ 45,800,000