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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments and Other Non-Financial Assets | The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at fair value on a recurring basis.
|  |  | June 30, 2019 |  | December 31, 2018
| Fair Value Hierarchy Level |  | Carrying Amount Asset (Liability) $ |  | Fair Value Asset (Liability) $ |  | Carrying Amount Asset (Liability) $ |  | Fair Value Asset (Liability) $
Recurring |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash (note 18) | Level 1 |  | 322,883 |  |  | 322,883 |  |  | 505,639 |  |  | 505,639 |
Derivative instruments (note 15) |  |  |  |  |  |  |  |  |
Interest rate swap agreements – assets (1) | Level 2 |  | 1,896 |  |  | 1,896 |  |  | 9,640 |  |  | 9,640 |
Interest rate swap agreements – liabilities (1) | Level 2 |  | (56,663 | ) |  | (56,663 | ) |  | (43,175 | ) |  | (43,175 | )
Cross currency interest swap agreements – liabilities(1) | Level 2 |  | (31,006 | ) |  | (31,006 | ) |  | (29,122 | ) |  | (29,122 | )
Foreign currency contracts | Level 2 |  | (101 | ) |  | (101 | ) |  | — |  |  | — |
Stock purchase warrants | Level 3 |  | — |  |  | — |  |  | 12,026 |  |  | 12,026 |
Freight forward agreements | Level 2 |  | 61 |  |  | 61 |  |  | (57 | ) |  | (57 | )
Other |  |  |  |  |  |  |  |  |
Loans to equity-accounted investments | (2) |  | 93,924 |  |  | (2 | ) |  | 169,197 |  |  | (2 | )
Loans to equity-accounted investments – Long-term | (2) |  | 62,196 |  |  | (2 | ) |  | 62,207 |  |  | (2 | )
Short-term debt | Level 2 |  | (15,000 | ) |  | (15,000 | ) |  | — |  |  | — |
Long-term debt – public (note 9) | Level 1 |  | (627,981 | ) |  | (658,046 | ) |  | (856,986 | ) |  | (851,470 | )
Long-term debt – non-public (note 9) | Level 2 |  | (2,215,344 | ) |  | (2,168,252 | ) |  | (2,462,537 | ) |  | (2,395,300 | )
Obligations related to finance leases, including current portion (note 6) | Level 2 |  | (1,826,732 | ) |  | (1,872,238 | ) |  | (1,673,845 | ) |  | (1,652,345 | )
(1) | The fair value of the Company's interest rate swap and cross currency swap agreements at June 30, 2019 includes $2.6 million (December 31, 2018 - $3.2 million) accrued interest expense which is recorded in accrued liabilities on the unaudited consolidated balance sheets.
(2) | In the unaudited interim consolidated financial statements, the Company’s loans to and investments in equity-accounted investments form the aggregate carrying value of the Company’s interests in entities accounted for by the equity method. The fair value of the individual components of such aggregate interests is not determinable.
Stock Purchase Warrants Changes in Fair Value Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3) | Changes in fair value during the three and six months ended June 30, 2019 and 2018 for the Company’s Brookfield Transaction Warrants and the Series D Warrants, which were measured at fair value using significant unobservable inputs (Level 3), are as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| $ |  | $ |  | $ |  | $
Fair value at the beginning of the period | 14,342 |  |  | 29,065 |  |  | 12,026 |  |  | 30,749 |
Unrealized gain included in earnings | 24,584 |  |  | 6,206 |  |  | 26,900 |  |  | 4,522 |
Realized (loss) gain included in earnings | (25,559 | ) |  | — |  |  | (25,559 | ) |  | — |
Settlements | (13,367 | ) |  | — |  |  | (13,367 | ) |  | — |
Fair value at the end of the period | — |  |  | 35,271 |  |  | — |  |  | 35,271 |
Summary of Financing Receivables | The following table contains a summary of the Company’s carrying value of financing receivables by type of borrower and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis.
Class of Financing Receivable |  | Credit Quality Indicator |  | Grade |  | June 30, 2019 |  | December 31, 2018
$ |  | $
Direct financing leases |  | Payment activity |  | Performing |  | 564,685 |  |  | 575,163 |
Other loan receivables |  |  |  |  |  |  |  |
Loans to equity-accounted investments and joint venture partners |  | Other internal metrics |  | Performing |  | 156,120 |  |  | 231,404 |
Long-term receivable and accrued revenue included in accounts receivable and other assets |  | Payment activity |  | Performing |  | 6,857 |  |  | 15,694 |
|  |  |  |  |  | 727,662 |  |  | 822,261 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953659-111524 + Details
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