XML 65 R33.htm IDEA: XBRL DOCUMENT v3.25.0.1

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Revenue and Income from Vessel Operations by Segment

The following table includes the Company’s revenues, expenses, other segment items, income (loss) from operations and equity income by segment, excluding such amounts of the Company’s Teekay Gas Business (see Note 22), and reconciles such amounts to the Company’s consolidated income from continuing operations before income taxes for the periods presented in these financial statements:

			Year Ended December 31, 2024
			Tankers						Marine Services and Other						Elimination (1)						Total
			$						$						$						$
Revenues (note 3)			1,106,278						114,096						—						1,220,374
Voyage expenses			(405,546)						—						—						(405,546)
Vessel operating expenses			(150,605)						(101,989)						—						(252,594)
Time-charter hire expenses			(74,379)						(416)						—						(74,795)
Depreciation and amortization			(93,582)						—						—						(93,582)
General and administrative expenses (2)			(48,833)						(11,905)						(320)						(61,058)
Gain on sale and write-down of assets (note 15)			38,080						—						—						38,080
Restructuring charges (note 16)			(5,952)						—						320						(5,632)
Income (loss) from operations			365,461						(214)						—						365,247
Equity income			2,767						—												2,767
Non-segment reconciling items:
Interest expense																					(7,542)
Interest income																					37,218
Other - net (note 17)																					4,334
Income from continuing operations before taxes																					402,024

(1)Relates to inter-segment transactions that are eliminated on consolidation.

(2)Includes direct general and administrative expenses and indirect general and administrative expenses allocated based on estimated use of corporate resources.

			Year Ended December 31, 2023
			Tankers						Marine Services and Other						Total
			$						$						$
Revenues (note 3)			1,364,452						100,523						1,464,975
Voyage expenses			(474,371)						—						(474,371)
Vessel operating expenses			(148,960)						(92,625)						(241,585)
Time-charter hire expenses			(70,836)						—						(70,836)
Depreciation and amortization			(97,551)						—						(97,551)
General and administrative expenses(1)			(45,936)						(11,654)						(57,590)
Gain on sale of assets (note 15)			10,360						—						10,360
Restructuring charges (note 16)			(1,248)						(429)						(1,677)
Income (loss) from operations			535,910						(4,185)						531,725
Equity income			3,432						—						3,432
Non-segment reconciling items:
Interest expense															(28,009)
Interest income															24,128
Other - net (note 17)															(1,691)
Income from continuing operations before taxes															529,585

(1)Includes direct general and administrative expenses and indirect general and administrative expenses allocated based on estimated use of corporate resources.

			Year Ended December 31, 2022
			Tankers						Marine Services and Other						Total
			$						$						$
Revenues (note 3)			1,063,111						127,073						1,190,184
Voyage expenses			(495,604)						—						(495,604)
Vessel operating expenses			(150,448)						(124,691)						(275,139)
Time-charter hire expenses			(27,374)						—						(27,374)
Depreciation and amortization			(99,033)						—						(99,033)
General and administrative expenses(1)			(41,769)						(15,783)						(57,552)
Gain on sale and write-down of assets (note 15)			8,888						12,975						21,863
Restructuring charges (note 16)			(1,822)						(9,757)						(11,579)
Income (loss) from operations			255,949						(10,183)						245,766
Equity income			244						—						244
Non-segment reconciling items:
Interest expense															(38,580)
Interest income															6,689
Other - net (note 17)															(3,066)
Income from continuing operations before taxes															211,053

(1)Includes direct general and administrative expenses and indirect general and administrative expenses allocated based on estimated use of corporate resources.

Other Income Statement Items by Segment

The following table includes capital expenditures by segment, excluding such amounts of the Company’s Teekay Gas Business (see Note 22), for the periods presented in these financial statements.

			December 31, 2024 $						December 31, 2023 $
Tankers			4,841						10,198

Reconciliation of Total Segment Assets

A reconciliation of total segment assets to total assets, presented in the accompanying consolidated balance sheets is as follows:

			December 31, 2024 (1) $						December 31, 2023 (1) $
Tankers			1,416,789						1,508,243
Marine Services and Other			40,995						35,840
Cash and cash equivalents			685,331						480,080
Short-term investments			10,000						172,604
Eliminations (2)			—						(129)
Consolidated total assets			2,153,115						2,196,638

(1)There are no differences between the measurements of the segment assets and the Company’s consolidated assets.

(2)Relates to inter-segment balances that are eliminated on consolidation.

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration