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Discontinued Operations and Disposal Groups (Tables) | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table contains the major components of income (loss) from discontinued operations of the Teekay Gas Business for the periods presented:
| Year Ended December 31,
| 2022 (1) $ |  | 2021 $ |  | 2020 $
Revenues | 25,083 |  | 680,589 |  | 669,417
Voyage expenses | (853) |  | (28,190) |  | (17,394)
Vessel operating expenses | (5,937) |  | (200,917) |  | (188,251)
Time-charter hire expenses | (845) |  | (23,487) |  | (23,564)
Depreciation and amortization | — |  | (130,810) |  | (129,752)
General and administrative expenses | (781) |  | (24,196) |  | (15,075)
(Write-down) and gain on sale of vessels | — |  | — |  | (51,000)
Restructuring charges | — |  | (3,223) |  | —
Income from vessel operations | 16,667 |  | 269,766 |  | 244,381
Interest expense | (4,287) |  | (122,561) |  | (136,572)
Interest income | 188 |  | 5,945 |  | 6,903
Realized and unrealized gains (losses) on non-designated derivative instruments | 3,675 |  | 8,524 |  | (33,334)
Equity income | 17,881 |  | 115,399 |  | 72,233
Foreign exchange gain (loss) | 4,286 |  | 7,344 |  | (18,373)
Other income (loss) | 9 |  | (3,566) |  | (16,523)
Loss on deconsolidation of the Teekay Gas Business (2) | (58,684) |  | — |  | —
Income from discontinued operations before income taxes | (20,265) |  | 280,851 |  | 118,715
Income tax expense | (11) |  | (6,756) |  | (3,429)
Income from discontinued operations | (20,276) |  | 274,095 |  | 115,286
(1)On January 13, 2022, the Company deconsolidated the Teekay Gas Business. Figures represent the Teekay Gas Business's results for the period from January 1, 2022 to January 13, 2022. (2)Net income attributable to shareholders of the Company on sale of the Teekay Gas Business was a net gain of $26.2 million, consisting of the recognition of the $84.8 million of Deferred Dropdown Gains (included in net income (loss) attributable to non-controlling interests, discontinued operations) less the loss on deconsolidation of $58.7 million. As at December 31, 2021, the major classes of the Teekay Gas Business’s assets and liabilities that are components of current assets – discontinued operations, non-current assets – discontinued operations, current liabilities – discontinued operations and non-current liabilities – discontinued operations, were as follows:
|  | 2021 $
ASSETS |  |
Cash and cash equivalents |  | 101,190
Other assets |  | 264,537
Vessels and equipment |  | 2,831,530
Net investment in direct financing and sales-type leases, net |  | 480,508
Investment in and loans, net to equity-accounted investments |  | 1,126,674
Current assets – discontinued operations |  | 4,804,439
Total assets – discontinued operations |  | 4,804,439
LIABILITIES |  |
Current portion of long-term debt |  | 1,379,642
Current obligations related to finance leases |  | 1,268,990
Other current liabilities |  | 228,997
Current liabilities – discontinued operations |  | 2,877,629
Total liabilities – discontinued operations |  | 2,877,629
A condensed summary of the financial information for certain equity-accounted investments (20% to 52%-owned) shown on a 100% basis (excluding the impact from purchase price adjustments arising from the acquisition of joint ventures), included in discontinued operations, are as follows:
|  | 2021 $
Cash and restricted cash |  | 460,342 |
Other assets – current |  | 208,029 |
Vessels and equipment, including vessels related to finance leases and advances on newbuilding contracts |  | 1,825,562 |
Net investment in direct financing leases |  | 5,103,376 |
Other assets – non-current |  | 255,270 |
Current portion of long-term debt and obligations related to finance leases |  | 611,180 |
Other liabilities – current |  | 250,753 |
Long-term debt and obligations related to finance leases |  | 4,551,612 |
Other liabilities – non-current |  | 220,454 |
|  | 2021 $ |  | 2020 $
Revenues |  | 990,703 |  |  | 1,008,112 |
Income from vessel operations |  | 572,985 |  |  | 584,685 |
Realized and unrealized (loss) gain on non-designated derivative instruments |  | 26,743 |  |  | (94,760) |
Net income |  | 342,068 |  |  | 152,144 |

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