| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||
Net income | |||||||||
48,911 | 157,965 | 217,510 | 218,927 | 213,315 | 139,142 | 97,356 | 92,944 | 81,937 | -21,212 |
Non-cash and non-operating items: | |||||||||
Unrealized gain on non-designated derivative instruments (note 11) | |||||||||
13,448 | 19,433 | 12,375 | -2,096 | 22,568 | 6,900 | -277 | -34,306 | -3,788 | -84,546 |
Depreciation and amortization | |||||||||
105,545 | 95,542 | 92,253 | 94,127 | 97,884 | 100,474 | 92,413 | 89,347 | 82,686 | 76,880 |
Write-down of vessels | |||||||||
-50,600 | -38,976 | 0 | 0 | - | 29,367 | 0 | - | - | - |
Goodwill impairment (note 6) | |||||||||
- | - | - | - | - | - | - | - | - | 3,648 |
Unrealized foreign currency exchange (gain) loss including the effect of the termination of cross-currency swaps (notes 2 and 11) | |||||||||
10,257 | 42,009 | 26,090 | 24,931 | -16,019 | -8,923 | 10,221 | 26,700 | -9,532 | 17,746 |
Equity based compensation | |||||||||
- | - | - | - | - | - | - | - | 361 | 369 |
Equity income, net of dividends received of $11,583 (2017 - $28,781) | |||||||||
-32,903 | 31,194 | -12,975 | 104,473 | 109,544 | 64,166 | 5,244 | 8,043 | - | - |
Other | |||||||||
- | - | - | - | 5,551 | -27 | 561 | 3,526 | - | 737 |
Gain on sale of vessel (note 17) | |||||||||
- | - | - | - | - | - | - | 4,340 | - | - |
Change in non-cash operating assets and liabilities | |||||||||
-1,853 | 20,669 | 34,187 | -18,822 | -10,078 | 7,307 | 33,458 | -6,657 | - | - |
Equity income, net of dividends received of $15,340 (2010 and 2009 - nil) | |||||||||
- | - | - | - | - | - | - | - | 27,639 | - |
Equity (income) loss | |||||||||
- | - | - | - | - | - | - | - | - | 136 |
Amortization of deferred debt issuance costs and other | |||||||||
- | - | - | - | - | - | - | - | 1,660 | - |
Change in operating assets and liabilities | |||||||||
- | - | - | - | - | - | - | - | -26,988 | 31,962 |
Accrued interest | |||||||||
- | - | - | - | - | - | - | - | -1,800 | 2,488 |
Expenditures for dry docking | |||||||||
21,642 | 12,686 | 10,357 | 13,471 | 27,203 | 7,493 | 19,638 | 12,727 | -9,729 | -11,966 |
Net operating cash flow | |||||||||
194,465 | 166,492 | 239,729 | 191,097 | 183,532 | 192,013 | 122,046 | 174,970 | 171,384 | 149,570 |
Net operating cash flow | |||||||||
Proceeds from issuance of long-term debt | |||||||||
362,527 | 573,514 | 391,574 | 944,123 | 719,300 | 500,335 | 600,862 | 100,945 | 220,050 | 936,988 |
Scheduled repayments of long-term debt and settlement of related swaps | |||||||||
168,504 | 316,450 | 126,557 | 100,804 | 86,609 | 84,666 | 290,940 | 76,018 | 80,301 | 73,613 |
Prepayments of long-term debt | |||||||||
236,474 | 463,422 | 90,000 | 608,501 | 270,000 | 324,274 | 383,000 | 72,000 | 185,900 | 321,000 |
Debt issuance costs | |||||||||
8,361 | 3,462 | 2,856 | 6,431 | 3,362 | 2,065 | 2,578 | 137 | 1,281 | 2,233 |
Proceeds from financing related to sales and leaseback of vessels | |||||||||
656,935 | 355,306 | 0 | - | - | - | - | - | - | - |
Scheduled repayments of obligations related to capital leases | |||||||||
42,000 | 21,594 | 4,423 | 479,115 | 10,315 | 10,161 | 89,350 | 39,147 | 37,437 | 33,176 |
Proceeds from equity offerings, net of offering costs (note 15) | |||||||||
164,411 | 120,707 | 35,374 | 182,139 | - | - | - | - | - | - |
Repayments (advances) from/to joint venture partners and equity accounted joint ventures | |||||||||
- | - | - | - | - | -3,600 | - | - | - | - |
Advances to joint venture partners and equity accounted joint ventures (note 6b) | |||||||||
- | - | - | - | - | - | 0 | - | 2,856 | 278,723 |
Advances to joint venture partners | |||||||||
- | - | - | - | - | - | - | 10,200 | - | 621 |
Decrease (increase) in restricted cash | |||||||||
20,385 | 4,651 | -30,321 | 448,914 | 27,761 | -31,217 | 76,249 | 30,741 | 30,710 | 28,340 |
Cash distributions paid | |||||||||
56,650 | 45,467 | 255,519 | 240,525 | 215,416 | 195,909 | 159,380 | 135,514 | 114,539 | 97,420 |
Proceeds from equity offerings, net of offering costs | |||||||||
- | - | - | - | 190,520 | 182,316 | 341,178 | 50,921 | 162,559 | - |
Novation of derivative liabilities (note 11e) | |||||||||
- | - | - | 2,985 | - | - | - | - | - | - |
Dividends paid to non-controlling interests | |||||||||
1,595 | 3,402 | 1,629 | 42,716 | 373 | 385 | - | - | - | - |
Purchase of Skaugen Multigas Subsidiaries (note 11d) | |||||||||
- | - | - | - | - | - | 114,466 | - | - | - |
Distribution to Teekay Corporation for the acquisition of Alexander Spirit LLC, Bermuda Spirit LLC and Hamilton Spirit LLC(note 2) | |||||||||
- | - | - | - | - | - | - | 33,997 | - | - |
Excess of purchase price over the contributed basis of Teekay Tangguh Borrower LLC (note 12f) | |||||||||
- | - | - | - | - | - | - | - | 31,829 | - |
Equity contribution from Teekay Corporation to Dropdown Predecessor (note 2) | |||||||||
- | - | - | - | - | - | - | - | 1,567 | 3,281 |
Excess of purchase price over the contributed basis of Teekay Nakilat (III) Holdings Corporation (note 11f) | |||||||||
- | - | - | - | - | - | - | - | - | 28,192 |
Distribution to Teekay Corporation for the purchase of Kenai LNG Carriers (note 11h) | |||||||||
- | - | - | - | - | - | - | - | - | 230,000 |
Proceeds on sale of 1% interest in Kenai LNG Carriers (note 12j) | |||||||||
- | - | - | - | - | - | - | - | 2,300 | - |
Other | |||||||||
-605 | 0 | 0 | - | - | - | 1,551 | 115 | - | - |
Net financing cash flow | |||||||||
690,069 | 200,381 | -84,357 | 100,069 | 351,506 | 30,374 | 7,174 | -167,746 | -10,060 | 403,262 |
Net financing cash flow | |||||||||
Proceeds from sale-leaseback of vessels | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Expenditures for vessels and equipment | |||||||||
708,608 | 345,790 | 191,969 | 188,855 | 368,163 | - | - | - | - | - |
Capital contributions to equity-accounted joint ventures | |||||||||
183,874 | 120,879 | 25,852 | 100,200 | 135,790 | 170,067 | 57,287 | 35,169 | - | - |
Return of capital and repayment of advances from equity-accounted joint ventures | |||||||||
92,320 | 5,500 | 23,744 | - | - | - | - | - | - | - |
Proceeds from equity offerings net of offering costs (note 3) | |||||||||
- | - | - | - | - | - | - | - | - | 202,519 |
Loan repayments from equity accounted joint ventures | |||||||||
- | - | - | 631 | -16,822 | - | 27,048 | 16,545 | 24,041 | 17,147 |
Repayments by equity accounted joint ventures | |||||||||
- | - | - | - | - | - | - | - | - | 28,310 |
Receipts from direct financing leases | |||||||||
13,143 | 23,650 | 15,837 | 17,200 | 11,641 | 6,155 | 6,154 | 5,746 | - | - |
Proceeds from sale of vessel | |||||||||
20,580 | 94,311 | 0 | 0 | - | - | - | 21,556 | - | - |
Increase in restricted cash | |||||||||
0 | 0 | 34,290 | 0 | - | - | - | - | - | - |
Other | |||||||||
- | - | - | -216 | - | -1,369 | 830 | - | - | - |
Net investing cash flow | |||||||||
-766,439 | -343,208 | -212,530 | - | - | - | - | -34,519 | -170,615 | -527,082 |
Purchase of Teekay Tangguh Borrower LLC (note 12f) | |||||||||
- | - | - | - | - | - | - | - | 37,259 | - |
Receipts from direct financing leases | |||||||||
- | - | - | - | - | - | - | - | 4,426 | - |
Return of capital from Teekay BLT Corporation to joint venture partners (note 11e) | |||||||||
- | - | - | - | - | - | - | - | - | 28,000 |
Receipt of Spanish re-investment tax credit (note 10) | |||||||||
- | - | - | - | - | - | - | - | - | 5,431 |
Purchase of Teekay Nakilat (III) Holdings Corporation (note 11f) | |||||||||
- | - | - | - | - | - | - | - | - | 82,007 |
Expenditures for vessels and equipment | |||||||||
- | - | - | - | - | 39,894 | 64,685 | 26,652 | 134,926 | 172,093 |
Net investing cash flow | |||||||||
- | - | - | -271,008 | -509,134 | -202,437 | -116,648 | - | - | - |
Increase (decrease) in cash and cash equivalents | |||||||||
118,095 | 23,665 | -57,158 | 20,158 | 25,904 | 19,950 | 12,572 | -27,295 | -9,291 | 25,750 |
Supplemental cash flow information (note 15) | |||||||||
- | - | - | - | - | - | - | - | 0 | - |