| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||
Net loss | ||||||||
-299,442 | 44,475 | 100,143 | 17,656 | 71,915 | 123,015 | -96,871 | 78,863 | 120,802 |
Non-cash items: | ||||||||
Unrealized gain on derivative instruments (note 8) | ||||||||
126,450 | 86,467 | -51,072 | -180,156 | 91,837 | 39,538 | -107,860 | -5,618 | 113,570 |
Equity income, net of dividends received of $4,700 (2017 - $7,000) | ||||||||
2,842 | 10,727 | -171 | -6,462 | 6,731 | - | 0 | - | - |
Depreciation and amortization | ||||||||
309,975 | 300,011 | 274,599 | 198,553 | 200,242 | 194,631 | 187,710 | 190,341 | 181,176 |
Write-down and gain on sale of vessels (note 15) | ||||||||
-318,078 | -40,079 | -69,998 | -1,638 | 95,247 | 32,217 | 91,108 | 9,441 | - |
Deferred income tax expense (note 9) | ||||||||
-1,870 | 4,854 | -23,007 | 889 | 2,150 | -8,808 | -614 | -15,756 | 8,209 |
Amortization of in-process revenue contracts | ||||||||
-12,745 | -12,779 | -12,745 | -12,744 | -12,744 | -12,714 | -1,148 | - | - |
Unrealized foreign currency exchange loss and other | ||||||||
-37,511 | -26,582 | 101,618 | 84,719 | 35,522 | -15,260 | -3,820 | -7,251 | 1,323 |
Change in non-cash working capital items related to operating activities | ||||||||
-29,806 | -74,218 | -25,903 | 111,484 | -51,999 | 17,447 | 11,296 | -34,464 | -8,931 |
Expenditures for dry docking | ||||||||
17,269 | 26,342 | 13,060 | 36,221 | 19,332 | 19,122 | 26,407 | 23,637 | -41,864 |
Net operating cash flow | ||||||||
234,752 | 353,904 | 371,456 | 160,186 | 255,387 | 267,494 | 254,162 | 286,585 | 162,361 |
FINANCING ACTIVITIES | ||||||||
Proceeds from long-term debt (note 6) | ||||||||
1,205,477 | 456,697 | 785,577 | 1,350,096 | 1,140,237 | 318,645 | 457,530 | 355,678 | 279,575 |
Scheduled repayments of long-term debt (note 6) | ||||||||
649,198 | 434,339 | 341,837 | 804,704 | 266,874 | - | - | - | - |
Scheduled repayments of long-term debt (note 5) | ||||||||
- | - | - | - | - | 146,162 | 110,694 | 90,835 | 34,948 |
Repayments of long-term debt relating to Dropdown Predecessors | ||||||||
- | - | - | - | - | - | - | 41,909 | 12,100 |
Prepayments of long-term debt (note 6) | ||||||||
639,067 | 197,776 | 123,606 | 418,625 | 466,781 | 445,698 | 125,562 | 568,236 | 426,090 |
Debt issuance costs | ||||||||
17,268 | 12,095 | 22,587 | 15,555 | 14,797 | 4,361 | 682 | 3,371 | - |
Equity contribution from joint venture partners | ||||||||
6,000 | 750 | 5,500 | 27,267 | 4,750 | 2,750 | - | - | - |
Purchase of vessels from Teekay Corporation (note 16f) | ||||||||
- | - | - | - | - | - | - | 107,051 | 100,000 |
Proceeds from issuance of preferred units (note 11) | ||||||||
0 | 100,000 | 375,000 | 0 | 150,000 | - | - | - | - |
Proceeds from issuance of common units and warrants (note 11) | ||||||||
640,595 | 135,246 | 9,674 | 186,353 | 119,588 | 265,393 | 420,146 | - | - |
Repurchase of preferred units (note 11) | ||||||||
250,022 | 0 | 0 | - | - | - | - | - | - |
Contribution of capital from Teekay Corporation to dropdown predecessors (note 16g) | ||||||||
- | - | - | - | - | - | - | - | 131,965 |
Proceeds from equity offerings | ||||||||
- | - | - | - | - | - | - | 419,989 | 109,227 |
Expenses relating to equity offerings | ||||||||
12,155 | 6,395 | 4,459 | 228 | 5,837 | 8,164 | 222 | 18,498 | 5,100 |
Decrease (increase) in restricted cash (notes 4 and 12) | ||||||||
86,549 | -54,389 | -13,760 | -46,760 | - | - | - | - | - |
Cash distributions paid by the Partnership | ||||||||
60,593 | 78,634 | 257,900 | 214,656 | - | - | - | - | - |
Repayment of joint venture partners advances | ||||||||
- | - | - | - | - | - | - | - | 21,532 |
Advance from joint venture partner | ||||||||
- | - | - | - | - | - | - | - | 477 |
Equity contribution from joint venture partner | ||||||||
- | - | - | - | - | - | - | - | -4,772 |
Cash distributions paid by the Partnership | ||||||||
- | - | - | - | 192,142 | 160,905 | 166,303 | 85,077 | 60,452 |
Cash distributions paid by subsidiaries to non-controlling interests | ||||||||
9,891 | 14,210 | 23,575 | 27,939 | 7,750 | 8,787 | - | 77,236 | - |
Purchase of 49% interest in Teekay Offshore Operating L.P. (note 10c) | ||||||||
- | - | - | - | - | - | 386,267 | - | - |
Purchase of vessels from Teekay Corporation (note 10g and 14e) | ||||||||
- | - | - | - | - | - | - | 40,645 | 13,681 |
Purchase of VOC equipment from Teekay Corporation (note 11b) | ||||||||
- | - | - | - | - | 12,848 | - | - | - |
Equity contribution from Teekay Corporation to Dropdown Predecessor (note 15f) | ||||||||
- | - | - | - | 5,596 | - | - | - | - |
Cash distributions paid by subsidiaries to non-controlling interests | ||||||||
- | - | - | - | - | - | - | - | 61,065 |
Other | ||||||||
-483 | -90 | 889 | 974 | - | -5,870 | 8,055 | 4,946 | -5,089 |
Net financing cash flow | ||||||||
299,944 | -105,235 | 272,903 | 42,404 | 231,865 | -206,007 | 35,318 | -211,600 | -200,360 |
INVESTING ACTIVITIES | ||||||||
Net payments for vessels and equipment, including advances on newbuilding contracts and conversion costs | ||||||||
533,260 | 294,581 | 664,667 | 172,169 | 455,578 | 87,408 | - | - | - |
Expenditures for vessels and equipment | ||||||||
- | - | - | - | - | - | -148,480 | - | - |
Proceeds from sale of vessels and equipment (note 15) | ||||||||
13,100 | 69,805 | 8,918 | 13,364 | 27,986 | 35,235 | - | - | - |
Investment in equity accounted joint ventures | ||||||||
25,824 | 54,873 | 22,855 | 12,413 | - | - | - | - | - |
Repayments from joint ventures | ||||||||
0 | 0 | 5,225 | -5,225 | - | - | - | - | - |
Direct financing lease payments received | ||||||||
-5,844 | 115 | -4,987 | - | - | - | - | - | - |
Settlement of contingent consideration liability (note 4) | ||||||||
0 | 0 | -3,303 | 0 | - | - | - | - | - |
Indemnification from purchase of Voyageur LLC from Teekay Corporation (notes 11c and 15e) | ||||||||
- | - | - | 6,181 | 234,125 | - | - | - | - |
Acquisition of companies from Teekay Corporation (net of cash acquired of $26.6 million) (note 7f) | ||||||||
0 | 0 | 112,710 | 0 | - | - | 161,851 | - | - |
Direct financing lease (investments) payments received | ||||||||
- | - | - | 5,097 | - | - | - | - | - |
Investment in direct financing leases assets | ||||||||
- | - | - | - | - | - | - | - | 579 |
Direct financing lease payments received | ||||||||
- | - | - | - | - | - | - | - | 23,045 |
Proceeds from sale of vessels and equipment | ||||||||
- | - | - | - | - | - | 13,354 | - | - |
Direct financing lease payments received | ||||||||
- | - | - | - | 5,647 | 17,091 | 20,948 | 22,736 | - |
Acquisition of ALP Maritime Services B.V. (net of cash acquired of $0.3 million) (note 18a) | ||||||||
- | - | - | 2,322 | - | - | - | - | - |
Acquisition of Logitel Offshore Holding AS (net of cash acquired of $8.1 million) (note 18b) | ||||||||
- | - | - | -4,090 | - | - | - | - | - |
Proceeds from sale of SPT Explorer L.L.C. and Navigator Spirit L.L.C. (note 18) | ||||||||
0 | 0 | 30,368 | 0 | - | - | - | - | - |
Net investing cash flow | ||||||||
-540,140 | -279,764 | -638,024 | -169,578 | -474,465 | -35,082 | -276,029 | -17,909 | 8,785 |
(Decrease) increase in cash and cash equivalents | ||||||||
-5,444 | -31,095 | 6,335 | 33,012 | 12,787 | 26,405 | 13,451 | 57,076 | -29,214 |