XML 60 R36.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Operating Leases (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | A maturity analysis of the Company’s operating lease liabilities, excluding such amounts related to discontinued operations (see Note 21), from time-charter-in contracts (excluding short-term leases) at December 31, 2023 is as follows:
|  | Lease Commitment |  | Non-Lease Commitment |  | Total Commitment
|  | $ |  | $ |  | $
Payments |  |  |  |  |  |
2024 |  | 39,627 |  | 26,713 |  | 66,340
2025 |  | 20,484 |  | 12,370 |  | 32,854
2026 |  | 11,415 |  | 7,400 |  | 18,815
2027 |  | 6,214 |  | 4,933 |  | 11,147
2028 |  | 3,015 |  | 3,250 |  | 6,265
Thereafter |  | 3,195 |  | 3,443 |  | 6,638
Total payments |  | 83,950 |  | 58,109 |  | 142,059
Less: imputed interest |  | (7,636) |  |  |  |
Carrying value of operating lease liabilities |  | 76,314 |  |  |  |
Less: current portion |  | (35,882) |  |  |  |
Carrying value of long-term operating lease liabilities |  | 40,432 |  |  |  |
Sale Leaseback Transactions [Table Text Block] |
| December 31, 2023 $ |  | December 31, 2022 $
Obligations related to finance leases | 140,811 |  | 536,480
Less: unamortized discount and debt issuance costs | (1,212) |  | (3,720)
Total obligations related to finance leases | 139,599 |  | 532,760
Less current portion | (20,517) |  | (60,161)
Long-term obligations related to finance leases | 119,082 |  | 472,599
Finance Lease, Liability, Maturity [Table Text Block] | As at December 31, 2023, Teekay Tankers' total remaining commitments related to financial liabilities of these vessels were approximately $181.7 million (December 31, 2022 – $695.2 million), including imputed interest of $40.9 million (December 31, 2022 – $158.7 million), repayable from 2024 through 2031, as indicated below:
| Commitments(1)
| December 31, 2023 |  |
Year | $ |  |
2024 | 31,951 |  |
2025 | 30,170 |  |
2026 | 28,422 |  |
2027 | 26,674 |  |
2028 | 25,064 |  |
Thereafter | 39,414 |  |
(1)Excludes the effect of the repurchase option notices that the Company provided in January 2024 to acquire eight vessels pursuant to repurchase options under related sale-leaseback arrangements which is expected to be completed in March 2024, as described above.

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of sale leaseback transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481295/840-40-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481440/840-10-50-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479741/842-40-50-2 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 40 -Topic 840 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481295/840-40-50-2 + Details
Name: | us-gaap_ScheduleOfSaleLeasebackTransactionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration