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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Location and Fair Value Amounts of Derivative Instruments | The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s consolidated balance sheets.
|  | Prepaid Expenses and Other |  | Goodwill, Intangibles and Other Non-Current Assets
|  | $ |  | $
As at December 31, 2023 |  |  |  |
Derivatives not designated as a cash flow hedge: |  |  |  |
Interest rate swap agreement |  | — |  | —
|  | — |  | —
As at December 31, 2022 |  |  |  |
Derivatives not designated as a cash flow hedge: |  |  |  |
Interest rate swap agreement |  | 2,087 |  | 1,622
|  | 2,087 |  | 1,622
Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments | Realized and unrealized gains (losses) from derivative instruments that are not designated for accounting purposes as cash flow hedges are recognized in earnings and reported in realized and unrealized gains (losses) on non-designated derivative instruments, excluding those held by the Teekay Gas Business (see Note 21), in the consolidated statements of income (loss) as follows:
| Year Ended December 31, 2023 $ |  | Year Ended December 31, 2022 $ |  | Year Ended December 31, 2021 $
Realized gains (losses) relating to: |  |  |  |  |
Interest rate swap agreement | 953 |  | 532 |  | (1,275)
Interest rate swap agreement termination | 3,215 |  | — |  | —
Foreign currency forward contracts | — |  | (421) |  | (31)
Forward freight agreements | (10) |  | 1,484 |  | (572)
| 4,158 |  | 1,595 |  | (1,878)
Unrealized (losses) gains relating to: |  |  |  |  |
Interest rate swap agreement | (3,709) |  | 3,160 |  | 2,407
Foreign currency forward contracts | — |  | 58 |  | (58)
Forward freight agreements | — |  | 4 |  | (4)
| (3,709) |  | 3,222 |  | 2,345
Total realized and unrealized gains on derivative instruments | 449 |  | 4,817 |  | 467

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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