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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 6. Goodwill and Intangible Assets In January 2020,Teekay Tankers reached an agreement to sell the non-US portion of its ship-to-ship support services business and its LNG terminal management business for $26 million, subject to adjustment for the final amounts of cash and other working capital present on the closing date. The sale is expected to close in the second quarter of 2020. All related assets to these businesses, including associated goodwill of $5.6 million and intangible assets of $6.9 million are classified as held-for-sale as at December 31, 2019 (see Note 24). Goodwill The carrying amount of goodwill for the years ended December 31, 2019 and 2018, for the Company’s reportable segments are as follows:
|  | Teekay LNG – Liquefied Gas Segment $ |  | Conventional Tanker Segment $ |  | Total $
Balance as of December 31, 2018 |  | 35,631 |  |  | 8,059 |  |  | 43,690 |
Decrease due to reclass of goodwill held for sale |  | — |  |  | (5,632 | ) |  | (5,632 | )
Balance as of December 31, 2019 |  | 35,631 |  |  | 2,427 |  |  | 38,058 |
Intangible Assets As at December 31, 2019, the Company’s intangible assets consisted of:
| Gross Carrying Amount $ |  | Accumulated Amortization $ |  | Net Carrying Amount $
Customer contracts | 192,938 |  |  | (149,558 | ) |  | 43,380 |
Customer relationships | 3,208 |  |  | (663 | ) |  | 2,545 |
| 196,146 |  |  | (150,221 | ) |  | 45,925 |
As at December 31, 2018, the Company’s intangible assets consisted of:
| Gross Carrying Amount $ |  | Accumulated Amortization $ |  | Net Carrying Amount $
Customer contracts | 193,194 |  |  | (140,756 | ) |  | 52,438 |
Customer relationships | 22,500 |  |  | (10,875 | ) |  | 11,625 |
Off-market in-charter contracts (1) | 17,900 |  |  | (4,190 | ) |  | 13,710 |
| 233,594 |  |  | (155,821 | ) |  | 77,773 |
(1) | Represents the off-market in-charter contracts between the Company and Altera for two FSO units. On January 1, 2019, upon the adoption of ASU 2016-02, the existing carrying value of the Company's chartered-in vessels was reclassified from other intangible assets to a right-of-use asset.
Aggregate amortization expense of intangible assets for the year ended December 31, 2019, was $11.3 million (2018 – $15.2 million, 2017 – $14.0 million), including $11.3 million presented in depreciation and amortization (2018 – $12.0 million, 2017 – $13.1 million), and $nil presented in time-charter hire expenses (2018 – $3.2 million, 2017 – $0.9 million) as a result of the adoption of ASU 2016-02 on January 1, 2019 (see Note 1). Amortization of intangible assets following 2019 is expected to be $9.4 million (2020), $9.4 million (2021), $8.8 million (2022), $6.6 million (2023), $4.9 million (2024) and $6.9 million (thereafter). In 2015, Teekay Tankers acquired a ship-to-ship transfer business (previously referred to as SPT and now known as Teekay Marine Solutions or TMS) from a company jointly owned by Teekay Corporation and a Norway-based marine transportation company, I.M. Skaugen SE and recognized goodwill and intangible assets relating to customer relationships at the time of acquisition.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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