XML 62 R54.htm IDEA: XBRL DOCUMENT v3.20.2
Leases Obligations relating to Finance Leases (Details)
$ in Thousands
9 Months Ended 36 Months Ended
Sep. 30, 2020
USD ($)
vessel
lease
Sep. 30, 2019
USD ($)
Jan. 31, 2019
Dec. 31, 2019
USD ($)
lease
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Liability $ 1,754,557     $ 1,825,692
Payments to Acquire Property, Plant, and Equipment 18,468 $ 98,713    
Proceeds from financing related to sale-leaseback of vessels 0 $ 381,526    
Current obligations related to finance leases (note 6) (98,236)     (95,339)
Finance Lease, Liability, Noncurrent $ 1,656,321     $ 1,730,353
Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Weighted Average Discount Rate, Percent 7.60%     7.60%
Number Of Vessels Obligated to Purchase | vessel 8      
Number Of Sale Leaseback Transactions | vessel 16      
November 2018 Sale-leaseback Transaction [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Finance Leased Assets, Number of Units | vessel 4      
Debt Covenant Minimum Hull Coverage Ratio Year 1 & 2 100.00%      
September 2018 Sale-leaseback Transaction [Member] [Domain] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Number Of Vessels | vessel 6      
Debt Covenant Minimum Hull Coverage Ratio, Year 1 75.00%      
Debt Covenant Minimum Hull Coverage Ratio, Year 2 78.00%      
Debt Covenant Minimum Hull Coverage Ratio, Years 3 and 4 80.00%      
Debt Covenant Minimum Hull Coverage Ratio, Thereafter 90.00%      
Suezmax Tanker Sale Leaseback [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Number of Vessels with Purchase Option | vessel 16      
July 2017 Sale Leaseback [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Number Of Vessels | vessel 4      
Debt Covenant Minimum Hull Coverage Ratio, Years 1, 2 and 3 90.00%      
Period Required to Maintain 90% Hull Coverage Ratio three years      
Debt Covenant Minimum Hull Coverage Ratio, Thereafter 100.00%      
Minimum [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Sale Leaseback Transaction, Lease Terms 9      
Minimum [Member] | November 2018 Sale-leaseback Transaction [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 113.00%     140.00%
Minimum [Member] | September 2018 Sale-leaseback Transaction [Member] [Domain] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 87.00%     106.00%
Minimum [Member] | July 2017 Sale Leaseback [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 119.00%     110.00%
Maximum | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Sale Leaseback Transaction, Lease Terms 12      
Maximum | November 2018 Sale-leaseback Transaction [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 156.00%     173.00%
Maximum | September 2018 Sale-leaseback Transaction [Member] [Domain] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 104.00%     123.00%
Maximum | July 2017 Sale Leaseback [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Actual Hull Coverage Ratio 141.00%     132.00%
Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Liability, Payment, Due $ 559,700      
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 163,600      
LNG Carriers [Member] | Teekay LNG        
Obligations relating to Finance Leases [Line Items]        
Sale Leaseback Transaction, Imputed Interest Rate     5.10%  
LNG Carriers [Member] | Minimum [Member] | Teekay LNG        
Obligations relating to Finance Leases [Line Items]        
Sale Leaseback Transaction, Lease Terms     7.5  
LNG Carriers [Member] | Maximum | Teekay LNG        
Obligations relating to Finance Leases [Line Items]        
Sale Leaseback Transaction, Lease Terms     15  
Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Liability, Payments, Due Next Twelve Months 14,235      
Finance Lease, Liability, Payments, Due Year Two 56,222      
Finance Lease, Liability, Payments, Due Year Three 56,213      
Finance Lease, Liability, Payments, Due Year Four 56,204      
Finance Lease, Liability, Payments, Due Year Five 56,348      
Finance Lease, Liability, Payments, Due after Year Five $ 320,481      
Suezmax Tankers [Member] | May 2019 Sale Leaseback [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Debt Covenant Minimum Hull Coverage Ratio, Year 2 78.00%      
Debt Covenant Minimum Hull Coverage Ratio, Years 3 and 4 80.00%      
Finance Leased Assets, Number of Units | vessel 2      
Actual Hull Coverage Ratio 91.00%     109.00%
Debt Covenant Minimum Hull Coverage Ratio Year 1 & 2 75.00%      
Debt Covenant Minimum Hull Coverage Ratio, Thereafter 90.00%      
Sales-type lease [Member] | LNG Carriers [Member] | Teekay LNG        
Obligations relating to Finance Leases [Line Items]        
Number Of Vessels | lease 9     9
Finance Lease, Liability, Payment, Due $ 1,800,000      
Lessee, Operating Lease, Liability, Undiscounted Excess Amount 417,700      
Finance Lease, Liability, Payments, Due Next Twelve Months 34,831      
Finance Lease, Liability, Payments, Due Year Two 138,601      
Finance Lease, Liability, Payments, Due Year Three 136,959      
Finance Lease, Liability, Payments, Due Year Four 135,459      
Finance Lease, Liability, Payments, Due Year Five 132,011      
Finance Lease, Liability, Payments, Due after Year Five 1,198,366      
LNG Carriers [Member] | Teekay LNG        
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Liability 1,358,485     $ 1,410,904
Conventional Tankers [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Finance Lease, Liability 396,072     $ 414,788
Finance Lease Obligations [Member] | Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers        
Obligations relating to Finance Leases [Line Items]        
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line $ 35,000      
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt 5.00%