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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Net Income of Consolidated Partially-Owned Entities and Attribution of Net Income to Controlling and Non-controlling Interests | The total net income of Teekay’s consolidated partially-owned entities and the attribution of that net income to controlling and non-controlling interests is as follows:
| Net income (loss) attributable to non-controlling interests |  |  |  | Controlling Interest |  | Net income of consolidated partially-owned entities (1)
| Non-public partially-owned subsidiaries |  | Preferred unit-holders |  |  |  | Earnings (Loss) |  | Total Non-Controlling Interest |  |  |  | Earnings |  | Total Controlling Interest (Teekay) |
Teekay Tankers | — |  |  | — |  |  |  |  | 267,792 |  |  | 267,792 |  |  |  |  | 124,131 |  |  | 124,131 |  |  | 391,923 |
Other entities and eliminations | — |  |  | — |  |  |  |  | 57 |  |  | 57 |  |  |  |  |  |  |  |  |
Year Ended December 31, 2024 | — |  |  | — |  |  |  |  | 267,849 |  |  | 267,849 |  |  |  |  |  |  |  |  |
Teekay Tankers | — |  |  | — |  |  |  |  | 366,909 |  |  | 366,909 |  |  |  |  | 146,762 |  |  | 146,762 |  |  | 513,671 |
Other entities and eliminations | — |  |  | — |  |  |  |  | (127) |  |  | (127) |  |  |  |  |  |  |  |  |
Year Ended December 31, 2023 | — |  |  | — |  |  |  |  | 366,782 |  |  | 366,782 |  |  |  |  |  |  |  |  |
Seapeak (2) | 872 |  |  | 928 |  |  |  |  | (63,728) |  |  | (61,928) |  |  |  |  | 100,364 |  |  | 100,364 |  |  | 38,436 |
Teekay Tankers | — |  |  | — |  |  |  |  | 172,857 |  |  | 172,857 |  |  |  |  | 56,229 |  |  | 56,229 |  |  | 229,086 |
Other entities and eliminations | — |  |  | — |  |  |  |  | 24 |  |  | 24 |  |  |  |  |  |  |  |  |
Year Ended December 31, 2022 | 872 |  |  | 928 |  |  |  |  | 109,153 |  |  | 110,953 |  |  |  |  |  |  |  |  |
(1)Includes earnings attributable to common and preferred shares. (2)Seapeak forms part of discontinued operations during 2022.
Summary of Capitalized Dry Docking Costs | The following table summarizes the change in the Company’s capitalized dry-docking costs from January 1, 2022, to December 31, 2024:
| Year Ended December 31,
| 2024 $ |  | 2023 $ |  | 2022 $
Balance at the beginning of the year | 40,573 |  | 51,474 |  | 62,914
Costs incurred for dry dockings | 28,165 |  | 15,483 |  | 15,792
Dry-dock amortization | (23,182) |  | (25,245) |  | (26,666)
Write-down / sale of vessels | (901) |  | (1,139) |  | (566)
Balance at the end of the year | 44,655 |  | 40,573 |  | 51,474
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table contains the changes in the balances of each component of accumulated other comprehensive loss attributable to shareholders of Teekay for the periods presented.
| Pension Adjustments Relating to Continuing Operations $ |  | Qualifying Cash Flow Hedging Instruments Related to Discontinued Operations $ |  | Total $
Balance as of December 31, 2021 | (2,996) |  | (22,514) |  | (25,510)
Other comprehensive loss and other | 1,024 |  | 682 |  | 1,706
Impact of deconsolidation of Teekay Gas Business | — |  | 21,832 |  | 21,832
Balance as of December 31, 2022 | (1,972) |  | — |  | (1,972)
Other comprehensive income and other | 1,972 |  | — |  | 1,972
Balance as of December 31, 2023 | — |  | — |  | —
Other comprehensive income and other | — |  | — |  | —
Balance as of December 31, 2024 | — |  | — |  | —

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