Teekay (TK) 20-F 26 Apr 16 2015 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2015shares
Document And Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	TK
Entity Registrant Name	TEEKAY CORP
Entity Central Index Key	911,971
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	72,711,371

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Revenues	$ 2,450,382	$ 1,993,920	$ 1,830,085
Voyage expenses	(115,787)	(127,847)	(112,218)
Vessel operating expenses	(844,039)	(809,319)	(806,152)
Time-charter hire expense	(138,548)	(67,219)	(103,646)
Depreciation and Amortization	(509,500)	(422,904)	(431,086)
General and administrative expenses	(133,184)	(140,917)	(140,958)
Asset impairments (note 18b)	(71,641)	(4,759)	(167,605)
Loan loss recoveries (provisions) (note 18b)		2,521	(748)
Net gain on sale of vessels, equipment and other assets (note 18a)	1,466	13,509	1,995
Restructuring charges (note 20)	(14,017)	(9,826)	(6,921)
Income from vessel operations	625,132	427,159	62,746
Interest expense	(242,469)	(208,529)	(181,396)
Interest income	5,988	6,827	9,708
Realized and unrealized (loss) gain on non-designated derivative instruments (note 15)	(102,200)	(231,675)	18,414
Equity income (note 23)	102,871	128,114	136,538
Foreign exchange (loss) gain (notes 8 and 15)	(2,195)	13,431	(13,304)
Other income (loss) (note 14)	1,566	(1,152)	5,646
Net income before income taxes	388,693	134,175	38,352
Income tax recovery (expense) (note 21)	16,767	(10,173)	(2,872)
Net income	405,460	124,002	35,480
Less: Net income attributable to non-controlling interests (note 1)	(323,309)	(178,759)	(150,218)
Net income (loss) attributable to shareholders of Teekay Corporation	$ 82,151	$ (54,757)	$ (114,738)
Per common share of Teekay Corporation (note 19)
Basic income (loss) attributable to shareholders of Teekay Corporation	$ 1.13	$ (0.76)	$ (1.63)
Diluted income (loss) attributable to shareholders of Teekay Corporation	1.12	(0.76)	(1.63)
Cash dividends declared	$ 1.7325	$ 1.2650	$ 1.2650
Weighted average number of common shares outstanding(note 19)
Basic	72,665,783	72,066,008	70,457,968
Diluted	73,190,564	72,066,008	70,457,968

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income	$ 405,460	$ 124,002	$ 35,480
Other comprehensive income (loss) before reclassifications
Unrealized loss on marketable securities	(463)	(1,151)	(2,233)
Unrealized loss on qualifying cash flow hedging instruments	(2,564)	(3,082)	(836)
Pension adjustments, net of taxes	14,178	(7,637)	(3,640)
Foreign exchange (loss) gain on currency translation	(217)	174	740
Amounts reclassified from accumulated other comprehensive loss to other income:
Impairment of marketable securities	0	1,322	2,062
Other comprehensive income (loss)	13,407	(12,155)	(2,271)
Comprehensive income	418,867	111,847	33,209
Less: Comprehensive income attributable to non-controlling interests	(323,309)	(177,713)	(150,368)
Comprehensive income (loss) attributable to shareholders of Teekay Corporation	95,558	(65,866)	(117,159)
Equity Method Investments [Member]
Amounts reclassified from accumulated other comprehensive loss to other income:
Realized loss on qualifying cash flow hedging instruments	2,613	1,551	405
General and administrative expenses [Member]
Amounts reclassified from accumulated other comprehensive loss to other income:
Realized loss on qualifying cash flow hedging instruments			257
Settlement of defined benefit pension plan	$ (140)	$ (3,332)	$ 974

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current
Cash and cash equivalents (note 8)	$ 678,392	$ 806,904
Restricted cash	61,818	33,653
Accounts receivable, including non-trade of $12,305 (2014 - $49,707) and related party balances of $65,936 (2014 - $38,616)	395,013	378,193
Assets held for sale (notes 11 and 18)	55,450
Net investment in direct financing leases (note 9)	26,542	20,823
Prepaid expenses and other (note 15)	95,302	69,470
Current portion of loans to equity-accounted investees (note 23)	7,127	26,209
Total current assets	1,319,644	1,335,252
Restricted cash - non-current	114,619	85,698
Vessels and equipment (note 8)
At cost, less accumulated depreciation of $2,894,097 (2014 - $2,627,499)	8,460,500	6,307,971
Vessels under capital leases, at cost, less accumulated amortization of $56,316 (2014 - $50,898) (note 10)	88,215	91,776
Advances on newbuilding contracts and conversion costs (note 16a)	817,878	1,706,500
Total vessels and equipment	9,366,593	8,106,247
Net investment in direct financing leases - non-current (note 9)	657,587	684,130
Loans to equity-accounted investees and joint venture partners, bearing interest between nil to LIBOR plus margins up to 3% (note 23)	184,390	227,217
Derivative assets (note 15)	17,844	14,415
Equity-accounted investments (notes 16b and 23)	905,159	873,421
Other non-current assets	214,932	190,073
Intangible assets - net (note 6)	111,909	94,666
Goodwill (note 6)	168,571	168,571
Total assets	13,061,248	11,779,690
Current
Accounts payable	64,212	85,290
Accrued liabilities (notes 7 and 15)	412,278	394,759
Current portion of derivative liabilities (note 15)	267,539	203,957
Current portion of long-term debt (note 8)	1,106,104	652,645
Current obligation under capital leases (note 10)	4,546	4,422
Current portion of in-process revenue contracts (note 6)	32,109	23,414
Total current liabilities	1,886,788	1,364,487
Long-term debt (note 8)	6,277,982	5,999,331
Long-term obligation under capital leases (note 10)	54,581	59,128
Derivative liabilities (note 15)	414,084	422,182
In-process revenue contracts (note 6)	118,690	149,998
Other long-term liabilities (note 7)	352,378	383,089
Total liabilities	$ 9,104,503	$ 8,378,215
Commitments and contingencies (notes 3, 8, 9, 10, 15 and 16)
Redeemable non-controlling interest (note 16d)	$ 255,671	$ 12,842
Equity
Common stock and additional paid-in capital ($0.001 par value; 725,000,000 shares authorized; 72,711,371 shares outstanding (2014 - 72,500,502); 72,711,371 shares issued (2014 - 73,299,702) (note 12)	775,018	770,759
Retained earnings	158,898	355,867
Non-controlling interest	2,782,049	2,290,305
Accumulated other comprehensive loss (note 1)	(14,891)	(28,298)
Total equity	3,701,074	3,388,633
Total liabilities and equity	$ 13,061,248	$ 11,779,690

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accounts receivable, non-trade	$ 12,305	$ 49,707
Accounts receivable, related party balance	65,936	38,616
Accumulated depreciation on vessels and equipment	2,894,097	2,627,499
Accumulated amortization on vessels under capital lease	$ 56,316	$ 50,898
Common stock, par value	$ 0.001	$ 0.001
Common stock, share authorized	725,000,000	725,000,000
Common stock, share issued	72,711,371	73,299,702
Common stock, share outstanding	72,711,371	72,500,502
Minimum [Member]
Range of interest	0.00%	0.00%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Range of interest	3.00%	3.00%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OPERATING ACTIVITIES
Net income	$ 405,460	$ 124,002	$ 35,480
Non-cash items:
Depreciation and amortization	509,500	422,904	431,086
Amortization of in-process revenue contracts (note 6)	(30,085)	(40,939)	(61,700)
Unrealized loss (gain) on derivative instruments	51,910	267,830	(113,344)
Gain on sale of vessels and equipment	(1,466)	(13,509)	(1,995)
Asset impairments and loan loss provisions (note 18b)	71,641	2,238	168,353
Equity income, net of dividends received	3,203	(94,726)	(121,144)
Income tax (recovery) expense	(16,767)	10,173	2,872
Unrealized foreign exchange gain and other	(142,416)	(217,908)	(39,003)
Change in operating assets and liabilities (note 17a)	(12,291)	60,631	64,184
Expenditures for dry docking	(68,380)	(74,379)	(72,205)
Net operating cash flow	770,309	446,317	292,584
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt, net of issuance costs (note 8)	2,452,878	3,365,045	2,451,828
Prepayments of long-term debt	(554,831)	(1,331,469)	(1,017,818)
Scheduled repayments of long-term debt	(1,040,292)	(1,291,322)	(695,688)
Repayments of capital lease obligations	(4,423)	(479,115)	(10,315)
(Increase) decrease in restricted cash	(21,005)	380,953	31,776
Net proceeds from equity issuances of subsidiaries (note 5)	575,368	452,061	446,893
Equity contribution by joint venture partner	5,500	27,267	4,934
Issuance of Common Stock upon exercise of stock options (note 12)	1,217	55,165	27,219
Distribution from subsidiaries to non-controlling interests	(360,392)	(360,820)	(269,987)
Cash dividends paid	(125,881)	(91,004)	(90,265)
Other financing activities	(3,682)		(12,000)
Net financing cash flow	924,457	726,761	866,577
INVESTING ACTIVITIES
Expenditures for vessels and equipment	(1,795,901)	(994,931)	(753,755)
Proceeds from sale of vessels and equipment	20,472	180,638	47,704
Purchase of SPT (net of cash acquired of $377) (note 3c)	(46,961)
Purchase of ALP (net of cash acquired of $294) (note 3g)		(2,322)
Purchase of Logitel (net of cash acquired of $8,089)(note 3d)		4,090
Increase in restricted cash	(34,290)
Recovery (investment) in term loans (note 4)		4,814	(12,552)
Investment in equity-accounted investees (note 23)	(40,595)	(79,602)	(157,762)
Loan repayments from (advances to) equity-accounted investees	53,173	(87,130)	(14,466)
Investment in direct financing lease assets (note 9)			(307,950)
Direct financing lease payments received	20,824	22,856	17,289
Investment in cost accounted investment		(25,000)
Other investing activities		(4,247)	(2,500)
Net investing cash flow	(1,823,278)	(980,834)	(1,183,992)
(Decrease) increase in cash and cash equivalents	(128,512)	192,244	(24,831)
Cash and cash equivalents, beginning of the year	806,904	614,660	639,491
Cash and cash equivalents, end of the year	$ 678,392	$ 806,904	$ 614,660

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parenthetical) - Teekay Offshore [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Ship-to-Ship Transfer Business (SPT) [Member]
Cash acquired	$ 377
ALP Maritime Services B.V [Member]
Cash acquired		$ 294
Logitel Offshore Holdings [Member]
Cash acquired		$ 8,089

Consolidated Statement of Chang

Consolidated Statement of Changes in Total Equity - USD ($) $ in Thousands	Total	Redeemable Non-controlling Interest [Member]	Common Stock [Member]	TOTAL EQUITY Common Stock and Additional Paid-in Capital [Member]	TOTAL EQUITY Retained Earnings [Member]	TOTAL EQUITY Accumulated Other Comprehensive Loss [Member]	TOTAL EQUITY Non-controlling Interests [Member]
Beginning Balance at Dec. 31, 2012	$ 3,191,474	$ 28,815		$ 681,933	$ 648,224	$ (14,768)	$ 1,876,085
Beginning Balance, Shares at Dec. 31, 2012			69,704,000
Net (loss) income	35,480				(114,738)		150,218
Reclassification of redeemable non-controlling interest in net income	6,391	(6,391)					6,391
Other comprehensive income (loss)	(2,271)					(2,421)	150
Dividends declared	(353,414)	(5,860)			(90,273)		(263,141)
Reinvested dividends	8			8
Reinvested dividends, Shares			1,000
Exercise of stock options (note 12)	$ 27,219			27,219
Exercise of stock options (note 12),Shares	1,039,000		1,324,000
Repurchase of Common Stock (note 12)	$ (12,000)			(2,722)	(9,278)
Repurchase of Common Stock (note 12),Shares			(300,000)
Employee stock compensation (note 12)	7,322			7,322
Dilution gains losses on public offerings of Teekay Offshore, Teekay Tankers, Teekay LNG and share issuances of Teekay Offshore (note 5)	36,703				36,703
Excess of purchase price over the carrying value upon acquisition of Variable Interest Entity (note 3f)	(35,421)				(35,421)
Additions to non-controlling interest from share and unit issuances of subsidiaries and other	301,559						301,559
Ending Balance at Dec. 31, 2013	3,203,050	16,564		713,760	435,217	(17,189)	2,071,262
Ending Balance, Shares at Dec. 31, 2013			70,729,000
Net (loss) income	124,002				(54,757)		178,759
Reclassification of redeemable non-controlling interest in net income	(7,777)	7,777					(7,777)
Other comprehensive income (loss)	(12,155)					(11,109)	(1,046)
Dividends declared	(456,706)	(11,499)			(93,021)		(363,685)
Reinvested dividends	6			6
Reinvested dividends, Shares			1,000
Exercise of stock options (note 12)	$ 55,165			55,165
Exercise of stock options (note 12),Shares	1,528,000		1,771,000
Employee stock compensation (note 12)	$ 1,828			1,828
Dilution gains losses on public offerings of Teekay Offshore, Teekay Tankers, Teekay LNG and share issuances of Teekay Offshore (note 5)	68,428				68,428
Additions to non-controlling interest from share and unit issuances of subsidiaries and other	412,792						412,792
Ending Balance at Dec. 31, 2014	$ 3,388,633	12,842		770,759	355,867	(28,298)	2,290,305
Ending Balance, Shares at Dec. 31, 2014	72,500,502		72,501,000
Net (loss) income	$ 405,460				82,151		323,309
Reclassification of redeemable non-controlling interest in net income	(13,280)	13,280					(13,280)
Other comprehensive income (loss)	13,407					13,407
Dividends declared	(480,460)	(20,201)			(126,391)		(354,069)
Reinvested dividends	10			10
Reinvested dividends, Shares			1,000
Exercise of stock options (note 12)	$ 1,217			1,217
Exercise of stock options (note 12),Shares	36,000		209,000
Employee stock compensation (note 12)	$ 3,032			3,032
Dilution gains losses on public offerings of Teekay Offshore, Teekay Tankers, Teekay LNG and share issuances of Teekay Offshore (note 5)	(152,729)				(152,729)
Additions to non-controlling interest from share and unit issuances of subsidiaries and other	535,784	249,750					535,784
Ending Balance at Dec. 31, 2015	$ 3,701,074	$ 255,671		$ 775,018	$ 158,898	$ (14,891)	$ 2,782,049
Ending Balance, Shares at Dec. 31, 2015	72,711,371		72,711,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Basis of presentation These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (or GAAP Teekay Company Public Subsidiaries Teekay LNG Teekay Offshore Teekay Tankers The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. Given the current challenging credit markets, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts. In the current period, the Company has presented debt issuance costs associated with a specific debt instrument as a direct deduction from the carrying amount of that debt liability in the Company’s consolidated balance sheets as part of the adoption of Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs ASU 2015-03 Non-Controlling Interests Where Teekay’s ownership interest in a consolidated subsidiary is less than 100%, the non-controlling interests’ share of these non-wholly owned subsidiaries are reported in the Company’s consolidated balance sheets as a separate component of equity. The non-controlling interests’ share of the net income of these non-wholly owned subsidiaries is reported in the Company’s consolidated statements of income as a deduction from the Company’s net income to arrive at net income (loss) attributable to shareholders of Teekay. The basis for attributing net income of each non-wholly owned subsidiary to the controlling interest and the non-controlling interests, with the exception of Teekay LNG and Teekay Offshore, is based on the relative ownership interests of the non-controlling interests compared to the controlling interest, which is consistent with how dividends and distributions are paid or are payable for these non-wholly owned subsidiaries. Teekay LNG and Teekay Offshore each have limited partners and one general partner. Both general partners are owned by Teekay. For Teekay LNG, the limited partners hold common units. For Teekay Offshore, the limited partners hold common units and preferred units. For each quarterly period, the method of attributing Teekay LNG’s and Teekay Offshore’s net income (loss) of that period to the non-controlling interests of Teekay LNG and Teekay Offshore begins by attributing net income (loss) of Teekay Offshore to the non-controlling interests which hold 100% of the preferred units of Teekay Offshore in an amount equal to the amount of preferred unit distributions declared for the quarterly period. The remaining net income (loss) to be attributed to the controlling interest and the non-controlling interests of Teekay LNG and Teekay Offshore is divided into two components. The first component consists of the cash distribution that Teekay LNG or Teekay Offshore will declare and pay to limited and general partners for that quarterly period (the Distributed Earnings Undistributed Earnings 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 (loss) of partially- owned consolidated entities (1) Non- public partially- owned subsidiaries Preferred unit holders Distributed Earnings Undistributed Earnings Total Distributed Earnings Undistri buted Earnings Total Teekay Offshore 13,911 28,609 119,971 (103,949 ) 58,542 70,414 (38,913 ) 31,501 90,043 Teekay LNG 16,627 — 120,482 (1,510 ) 135,599 82,791 (880 ) 81,911 217,510 Teekay Tankers — — — 129,725 129,725 — 47,202 47,202 176,927 Other entities and eliminations — — — — (557 ) For the Year Ended December 31, 2015 30,538 28,609 240,453 24,266 323,309 Teekay Offshore 10,503 10,875 136,743 (150,724 ) 7,397 71,166 (60,907 ) 10,259 17,656 Teekay LNG 13,489 — 143,292 (26,116 ) 130,665 101,946 (13,684 ) 88,262 218,927 Teekay Tankers — — — 41,048 41,048 — 16,094 16,094 57,142 Other entities and eliminations — — — — (351 ) For the Year Ended December 31, 2014 23,992 10,875 280,035 (135,792 ) 178,759 Teekay Offshore (19,089 ) 7,250 127,523 (86,148 ) 29,536 65,393 (20,789 ) 44,604 74,140 Teekay LNG 12,073 — 127,087 (13,101 ) 126,059 94,253 (6,997 ) 87,256 213,315 Teekay Tankers — — — (6,096 ) (6,096 ) — (2,042 ) (2,042 ) (8,138 ) Other entities and eliminations — — — — 719 For the Year Ended December 31, 2013 (7,016 ) 7,250 254,610 (105,345 ) 150,218 (1) Excludes the results of the acquisition of interests in vessels between Teekay Corporation, Teekay Offshore and Teekay Tankers during the periods the vessels were under common control and had begun operations. When Teekay’s non-wholly owned subsidiaries declare dividends or distributions to their owners, or require all of their owners to contribute capital to the non-wholly owned subsidiaries, such amounts are paid to, or received from, each of the owners of the non-wholly owned subsidiaries based on the relative ownership interests in the non-wholly owned subsidiary. As such, any dividends or distributions paid to, or capital contributions received from, the non-controlling interests are reflected as a reduction (dividends or distributions) or an increase (capital contributions) in non-controlling interest in the Company’s consolidated balance sheets. When Teekay’s non-wholly owned subsidiaries issue additional equity interests to non-controlling interests, Teekay is effectively selling a portion of the non-wholly owned subsidiaries. Consequently, the proceeds received by the subsidiaries from their issuance of additional equity interests are allocated between non-controlling interest and retained earnings in the Company’s consolidated balance sheets. The portion allocated to non-controlling interest on the Company’s consolidated balance sheets consists of the carrying value of the portion of the non-wholly owned subsidiary that is effectively disposed of, with the remaining amount attributable to the controlling interest, which consists of the Company’s dilution gain or loss that is allocated to retained earnings. Reporting currency The consolidated financial statements are stated in U.S. Dollars. The functional currency of the Company is the U.S. Dollar because the Company operates in the international shipping market, which typically utilizes the U.S. Dollar as the functional currency. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet date, monetary assets and liabilities that are denominated in currencies other than the U.S. Dollar are translated to reflect the year-end exchange rates. Resulting gains or losses are reflected separately in the accompanying consolidated statements of income. Operating revenues and expenses Contracts of Affreightment and Voyage Charters Revenues from contracts of affreightment and voyage charters are recognized on a proportionate performance method. The Company uses a discharge-to-discharge basis in determining proportionate performance for all voyage charters, whereby it recognizes revenue ratably from when product is discharged (unloaded) at the end of one voyage to when it is discharged after the next voyage. Shuttle tanker voyages servicing contracts of affreightment with offshore oil fields commence with tendering of notice of readiness at a field, within the agreed lifting range, and ends with tendering of notice of readiness at a field for the next lifting. The Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port on its next voyage. Time Charters, Bareboat Charters and FPSO Contracts Operating Leases FPSO Direct Financing Leases The Company employs four liquefied natural gas (or LNG FSO Pooling Arrangements Revenues and voyage expenses of the vessels operating in pool arrangements are pooled and the resulting net pool revenues, calculated on a time-charter equivalent basis, are allocated to the pool participants according to an agreed formula. The agreed formula used to allocate net pool revenues varies between pools; however, the formula generally allocates revenues to pool participants on the basis of the number of days a vessel operates in the pool with weighting adjustments made to reflect vessels’ differing capacities and performance capabilities. The same revenue and expense recognition principles stated above for voyage charters are applied in determining the net pool revenues of the pool. The pools are responsible for paying voyage expenses and distribute net pool revenues to the participants. The Company accounts for the net allocation from the pool as revenues and amounts due from the pool are included in accounts receivable. Other Revenue Revenues and expenses relating to engineering studies are recognized when the service is completed, unless the expenses are not recoverable in which case the expenses are recognized as incurred. Revenue from lightering operations are recognized when services have been completed. Revenues are accrued when operations are carried over into the following month. Revenues from management services are recognized on a proportionate performance method over the term of the management contract. Operating Expenses Voyage expenses are all expenses unique to a particular voyage, including bunker fuel expenses, port fees, cargo loading and unloading expenses, canal tolls, agency fees and commissions. Vessel operating expenses include crewing, ship management services, repairs and maintenance, insurance, stores, lube oils and communication expenses. Voyage expenses and vessel operating expenses are recognized when incurred. Cash and cash equivalents The Company classifies all highly liquid investments with a maturity date of three months or less at their inception as cash equivalents. Restricted Cash The Company maintains restricted cash deposits relating to certain term loans, collateral for derivatives, project tenders, leasing arrangements, amounts received from charterers to be used only for dry-docking expenditures and emergency repairs and other obligations. Accounts receivable and allowance for doubtful accounts Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. The Company determines the allowance based on historical write-off experience and customer economic data. The Company reviews the allowance for doubtful accounts regularly and past due balances are reviewed for collectability. Account balances are charged off against the allowance when the Company believes that the receivable will not be recovered. There was no significant amounts recorded as allowance for doubtful accounts as at December 31, 2015, 2014, and 2013. Marketable securities The Company’s investments in marketable securities are classified as available-for-sale securities and are carried at fair value. Net unrealized gains and losses on available-for-sale securities are reported as a component of accumulated other comprehensive loss. Realized gains and losses on available-for-sale securities are computed based upon the historical cost of these securities applied using the weighted-average historical cost method. The Company analyzes its available-for-sale securities for impairment during each reporting period to evaluate whether an event or change in circumstances has occurred in that period that may have a significantly adverse effect on the fair value of the investment. The Company records an impairment charge through current-period earnings and adjusts the cost basis for such other-than-temporary declines in fair value when the fair value is not anticipated to recover above cost within a three-month period after the measurement date, unless there are mitigating factors that indicate an impairment charge through earnings may not be required. If an impairment charge is recorded, subsequent recoveries in fair value are not reflected in earnings until sale of the security. Vessels and equipment All pre-delivery costs incurred during the construction of newbuildings, including interest, supervision and technical costs, are capitalized. The acquisition cost and all costs incurred to restore used vessels purchased by the Company to the standard required to properly service the Company’s customers are capitalized. Depreciation is calculated on a straight-line basis over a vessel’s estimated useful life, less an estimated residual value. Depreciation is calculated using an estimated useful life of 25 years for tankers carrying crude oil and refined product, 20 to 25 years for FPSO units, 35 years for LNG carriers and 30 years for liquefied petroleum gas (or LPG UMS Vessel capital modifications include the addition of new equipment or can encompass various modifications to the vessel that are aimed at improving or increasing the operational efficiency and functionality of the asset. This type of expenditure is amortized over the estimated useful life of the modification. Expenditures covering recurring routine repairs and maintenance are expensed as incurred. Interest costs capitalized to vessels and equipment for the years ended December 31, 2015, 2014, and 2013, aggregated $22.0 million, $51.3 million and $14.6 million, respectively. Generally, the Company dry docks each shuttle tanker, conventional oil tanker, long-distance towing and offshore installation vessel and gas carrier every two and a half to five years. UMS, FSO and FPSO units are generally not dry docked. The Company capitalizes a substantial portion of the costs incurred during dry docking and amortizes those costs on a straight-line basis over their estimated useful life, which typically is from the completion of a dry docking or intermediate survey to the estimated completion of the next dry docking. The Company includes in capitalized dry-docking costs those costs incurred as part of the dry docking to meet classification and regulatory requirements. The Company expenses costs related to routine repairs and maintenance performed during dry docking, and for annual class survey costs on the Company’s FPSO units. The continuity of capitalized dry-docking costs for the years ended December 31, 2015, 2014, and 2013, is summarized as follows: Year Ended December 31, 2015 2014 2013 $ $ $ Balance at the beginning of the year 135,331 118,194 100,928 Costs incurred for dry dockings 69,927 74,018 72,545 Dry-dock amortization (47,271 ) (50,926 ) (50,325 ) Write down / sales of vessels (7,285 ) (5,955 ) (4,954 ) Balance at the end of the year 150,702 135,331 118,194 Vessels and equipment that are “held and used” are assessed for impairment when events or circumstances indicate the carrying amount of the asset may not be recoverable. If the asset’s net carrying value exceeds the net undiscounted cash flows expected to be generated over its remaining useful life, the carrying amount of the asset is reduced to its estimated fair value. The estimated fair value for the Company’s impaired vessels is determined using discounted cash flows or appraised values. In cases where an active second hand sale and purchase market does not exist, the Company uses a discounted cash flow approach to estimate the fair value of an impaired vessel. In cases where an active second hand sale and purchase market exists an appraised value is used to estimate the fair value of an impaired vessel. An appraised value is generally the amount the Company would expect to receive if it were to sell the vessel. Such appraisal is normally completed by the Company and based on second-hand sale and purchase data. Vessels and equipment that are “held for sale” are measured at the lower of their carrying amount or fair value less costs to sell and are not depreciated while classified as held for sale. Interest and other expenses attributable to vessels and equipment classified as held for sale, or to their related liabilities, continue to be recognized as incurred. Gains on vessels sold and leased back under capital leases are deferred and amortized over the remaining term of the capital lease. Losses on vessels sold and leased back under capital leases are recognized immediately when the fair value of the vessel at the time of sale and lease-back is less than its book value. In such case, the Company would recognize a loss in the amount by which book value exceeds fair value. Other loan receivables The Company’s investments in loan receivables are recorded at cost. The premium paid over the outstanding principal amount was amortized to interest income over the term of the loan using the effective interest rate method. The Company analyzes its loans for collectability during each reporting period. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors the Company considers in determining that a loan is impaired include, among other things, an assessment of the financial condition of the debtor, payment history of the debtor, general economic conditions, the credit rating of the debtor (when available) any information provided by the debtor regarding their ability to repay the loan and the fair value of the underlying collateral. When a loan is impaired, the Company measures the amount of the impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate and recognizes the resulting impairment in the consolidated statements of income. The carrying value of the loans will be adjusted each subsequent reporting period to reflect any changes in the present value of estimated future cash flows. The following table contains a summary of the Company’s financing receivables by type of borrower, the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis, and the grade as of December 31, 2015. December 31, Class of Financing Receivable Credit Quality Indicator Grade 2015 $ 2014 $ Direct financing leases Payment activity Performing 684,129 704,953 Other loan receivables Loans to equity-accounted investees and joint venture partners Other internal metrics Performing 191,517 253,426 Long-term receivable included in other assets Payment activity Performing 37,032 43,843 912,678 1,002,222 Joint ventures The Company’s investments in joint ventures are accounted for using the equity method of accounting. Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the Company’s proportionate share of earnings or losses and distributions. The Company evaluates its investments in joint ventures for impairment when events or circumstances indicate that the carrying value of such investments may have experienced an other than temporary decline in value below their carrying value. If the estimated fair value is less than the carrying value and is considered an other than temporary decline, the carrying value is written down to its estimated fair value and the resulting impairment is recorded in the consolidated statements of income. Debt issuance costs Debt issuance costs, including fees, commissions and legal expenses, are deferred and presented as a direct reduction from the carrying amount of the debt liability. Debt issuance costs related to loan facilities without a recognized debt liability will continue to be presented as non-current assets in the consolidated balance sheet. Debt issuance costs of revolving credit facilities are amortized on a straight-line basis over the term of the relevant facility. Debt issuance costs of term loans are amortized using the effective interest rate method over the term of the relevant loan. Amortization of debt issuance costs is included in interest expense. Derivative instruments All derivative instruments are initially recorded at fair value as either assets or liabilities in the accompanying consolidated balance sheets and subsequently remeasured to fair value, regardless of the purpose or intent for holding the derivative. The method of recognizing the resulting gain or loss is dependent on whether the derivative contract is designed to hedge a specific risk and whether the contract qualifies for hedge accounting. The Company does not apply hedge accounting to its derivative instruments, except for certain foreign exchange currency contracts and certain types of interest rate swaps (See Note 15). When a derivative is designated as a cash flow hedge, the Company formally documents the relationship between the derivative and the hedged item. This documentation includes the strategy and risk management objective for undertaking the hedge and the method that will be used to assess the effectiveness of the hedge. Any hedge ineffectiveness is recognized immediately in earnings, as are any gains and losses on the derivative that are excluded from the assessment of hedge effectiveness. The Company does not apply hedge accounting if it is determined that the hedge was not effective or will no longer be effective, the derivative was sold or exercised, or the hedged item was sold, or repaid. For derivative financial instruments designated and qualifying as cash flow hedges, changes in the fair value of the effective portion of the derivative financial instruments are initially recorded as a component of accumulated other comprehensive loss in total equity. In the periods when the hedged items affect earnings, the associated fair value changes on the hedging derivatives are transferred from total equity to the corresponding earnings line item in the consolidated statements of income. The ineffective portion of the change in fair value of the derivative financial instruments is immediately recognized in earnings in the consolidated statements of income. If a cash flow hedge is terminated and the originally hedged item is still considered possible of occurring, the gains and losses initially recognized in total equity remain there until the hedged item impacts earnings, at which point they are transferred to the corresponding earnings line item (e.g. general and administrative expense) item in the consolidated statements of income. If the hedged items are no longer possible of occurring, amounts recognized in total equity are immediately transferred to the earnings item in the consolidated statements of income. For derivative financial instruments that are not designated or that do not qualify as hedges under Financial Accounting Standards Board (or FASB ASC Derivatives and Hedging Goodwill and intangible assets Goodwill is not amortized, but reviewed for impairment at the reporting unit level on an annual basis or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. When goodwill is reviewed for impairment, the Company may elect to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Alternatively, the Company may bypass this step and use a fair value approach to identify potential goodwill impairment and, when necessary, measure the amount of impairment. The Company uses a discounted cash flow model to determine the fair value of reporting units, unless there is a readily determinable fair market value. Intangible assets are assessed for impairment when and if impairment indicators exist. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and its carrying amount exceeds its fair value. The Company’s intangible assets consist primarily of acquired time-charter contracts, contracts of affreightment, and customer relationships. The value ascribed to the acquired time-charter contracts and contracts of affreightment are being amortized over the life of the associated contract, with the amount amortized each year being weighted based on the projected revenue to be earned under the contracts. The value ascribed to customer relationships intangible assets are amortized over the expected life of a customer contract or the expected duration that the customer relationships are estimated to contribute to the cash flows of the Company. The amount amortized each year is weighted based on the projected revenue to be earned under the contracts or projected revenue to be earned as a result of the customer relationships. Asset retirement obligation The Company has an asset retirement obligation (or ARO Petrojarl Banff The Company records the fair value of an ARO as a liability in the period when the obligation arises. The fair value of the ARO is measured using expected future cash outflows discounted at the Company’s credit-adjusted risk-free interest rate. When the liability is recorded, the Company capitalizes the cost by increasing the carrying amount of the related equipment. Each period, the liability is increased for the change in its present value, and the capitalized cost is depreciated over the useful life of the related asset. Changes in the amount or timing of the estimated ARO are recorded as an adjustment to the related asset and liability. As at December 31, 2015, the ARO and associated receivable, which is recorded in other non-current assets, were $25.5 million and $6.9 million, respectively (2014 - $25.0 million and $6.8 million, respectively). Repurchase of common stock The Company accounts for repurchases of common stock by decreasing common stock by the par value of the stock repurchased. In addition, the excess of the repurchase price over the par value is allocated between additional paid in capital and retained earnings. The amount allocated to additional paid in capital is the pro-rata share of the capital paid in and the balance is allocated to retained earnings. Share-based compensation The Company grants stock options, restricted stock units, performance share units and restricted stock awards as incentive-based compensation to certain employees and directors. The Company measures the cost of such awards using the grant date fair value of the award and recognizes that cost, net of estimated forfeitures, over the requisite service period, which generally equals the vesting period. For stock-based compensation awards subject to graded vesting, the Company calculates the value for the award as if it was one single award with one expected life and amortizes the calculated expense for the entire award on a straight-line basis over the vesting period of the award. Compensation cost for awards with performance conditions is recognized when it is probable that the performance condition will be achieved. The compensation cost of the Company’s stock-based compensation awards are substantially reflected in general and administrative expense. Income taxes The Company accounts for income taxes using the liability method. Under the liability method, deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of the Company’s assets and liabilities using the applicable jurisdictional tax rates. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. Recognition of uncertain tax positions is dependent upon whether it is more-likely-than-not that a tax position taken or expected to be taken in a tax return will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold, it is measured to determine the amount of benefit to recognize in the financial statements. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company believes that it and its subsidiaries are not subject to taxation under the laws of the Republic of The Marshall Islands or Bermuda, or that distributions by its subsidiaries to the Company will be subject to any taxes under the laws of such countries, and that it qualifies for the Section 883 exemption under U.S. federal income tax purposes. Accumulated other comprehensive income (loss) The following table contains the changes in the balances of each component of accumulated other comprehensive income (loss) attributable to shareholders of Teekay for the periods presented. Qualifying Cash Pension Unrealized Foreign Total $ $ $ $ $ Balance as of December 31, 2012 341 (16,253 ) — 1,144 (14,768 ) Other comprehensive (loss) income (324 ) (2,666 ) (171 ) 740 (2,421 ) Balance as of December 31, 2013 17 (18,919 ) (171 ) 1,884 (17,189 ) Other comprehensive (loss) income (485 ) (10,969 ) 171 174 (11,109 ) Balance as of December 31, 2014 (468 ) (29,888 ) — 2,058 (28,298 ) Other comprehensive income (loss) 49 14,038 (463 ) (217 ) 13,407 Balance as of December 31, 2015 (419 ) (15,850 ) (463 ) 1,841 (14,891 ) Employee pension plans The Company has defined contribution pension plans covering the majority of its employees. Pension costs associated with the Company’s required contributions under its defined contribution pension plans are based on a percentage of employees’ salaries and are charged to earnings in the year incurred. The Company also has defined benefit pension plans covering certain of its employees. The Company accrues the costs and related obligations associated with its defined benefit pension plans based on actuarial computations using the projected benefits obligation method and management’s best estimates of expected plan investment performance, salary escalation, and other relevant factors. For the purpose of calculating the expected return on plan assets, those assets are valued at fair value. The overfunded or underfunded status of the defined benefit pension plans are recognized as assets or liabilities in the consolidated balance sheet. The Company recognizes as a component of other comprehensive loss, the gains or losses that arise during a period but that are not recognized as part of net periodic benefit costs. Earnings (loss) per common share The computation of basic earnings (loss) per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the exercise of all dilutive stock options and restricted stock awards using the treasury stock method. The computation of diluted loss per share does not assume such exercises. Adoption of new accounting pronouncements In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs ASU 2015-03 In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes Accounting pronouncements not yet adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In February 2015, the FASB issued Accounting Standards Update 2015-02, Amendments to the Consolidation Analysis ASU 2015-02 In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (or ASU 2016-02)

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	2. Segment Reporting The Company has four primary lines of business: offshore logistics (shuttle tankers, the HiLoad DP Daughter Companies Teekay Parent The following table includes results for the Company’s revenue and income from vessel operations by segment for the periods presented in these financial statements. Revenues (1) Income (Loss) from Vessel Operations (2) Year Ended Year Ended December 31, December 31, 2015 2014 2013 2015 2014 2013 Teekay Offshore Offshore Logistics 667,629 631,455 611,035 108,119 146,756 40,127 Offshore Production 531,554 354,518 284,932 165,152 95,991 48,170 Conventional Tankers 30,230 33,566 55,010 10,128 13,471 10,594 1,229,413 1,019,539 950,977 283,399 256,218 98,891 Teekay LNG Liquefied Gas Carriers 305,056 307,426 285,694 151,200 156,868 144,430 Conventional Tankers 92,935 95,502 113,582 30,172 26,955 31,926 397,991 402,928 399,276 181,372 183,823 176,356 Teekay Tankers (3) Conventional Tankers 504,347 235,593 170,087 184,083 58,271 3,411 Teekay Parent Offshore Production 277,842 259,945 282,687 (40,227 ) (78,804 ) (67,486 ) Conventional Tankers 65,777 94,376 83,520 4,984 (12,407 ) (158,091 ) Other 75,547 95,791 73,801 5,015 17,488 12,365 419,166 450,112 440,008 (30,228 ) (73,723 ) (213,212 ) Eliminations and other (100,535 ) (114,252 ) (130,263 ) 6,506 2,570 (2,700 ) 2,450,382 1,993,920 1,830,085 625,132 427,159 62,746 (1) Certain vessels are chartered between the Daughter Companies and Teekay Parent. The amounts in the table below represent revenue earned by each segment from other segments within the group. Such intersegment revenue for the year ended 2015, 2014 and 2013 is as follows: Year Ended December 31, 2015 2014 2013 Teekay Offshore - Offshore Logistics 38,734 34,603 37,876 Teekay Offshore - Conventional Tankers 29,259 32,411 44,269 Teekay LNG - Liquefied Gas Carriers 35,887 37,596 34,573 Teekay Tankers - Conventional Tankers 1,380 13,707 13,545 Teekay Parent - Conventional Tankers 3,080 — — 108,340 118,317 130,263 (2) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). (3) Financial information for Teekay Tankers includes operations of the SPT Explorer Navigator Spirit The following table presents revenues and percentage of consolidated revenues for customers that accounted for more than 10% of the Company’s consolidated revenues during the periods presented. All of these customers are international oil companies. Year Ended Year Ended Year Ended December 31, December 31, December 31, (U.S. dollars in millions) 2015 2014 2013 BG Group (1) $263.4 or 11% (5) (5) Petroleo Brasileiro SA (2) $231.8 or 10% $248.2 or 12% $244.3 or 13% Statoil ASA (3) (5) $239.8 or 12% $250.5 or 14% BP PLC (4) (5) (5) $182.5 or 10% (1) Teekay Offshore - Offshore Logistics and Offshore Production. In February 2016, Royal Dutch Shell Plc acquired BG Group Plc. (2) Teekay Offshore - Offshore Logistics and Offshore Production, Teekay Tankers - Conventional Tankers and Teekay Parent – Conventional Tankers (3) Teekay Offshore - Offshore Logistics, Teekay Tankers - Conventional Tankers, Teekay Parent – Offshore Production and Teekay Parent – Conventional Tankers (4) Teekay Offshore - Offshore Logistics, Teekay LNG - Liquefied Gas, Teekay Parent – Offshore Production and Teekay Parent – Conventional Tankers (5) Less than 10% The following table includes other income statement items by segment for the periods presented in these financial statements. Depreciation and Amortization Asset Impairment and Loan Equity Income (Loss) Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 2015 2014 2013 2015 2014 2013 Teekay Offshore Offshore Logistics (130,102 ) (118,968 ) (126,091 ) (67,744 ) (4,759 ) (76,782 ) — — — Offshore Production (137,914 ) (72,905 ) (66,404 ) — — — 7,672 10,341 6,731 Conventional Tankers (6,583 ) (6,680 ) (7,747 ) (3,897 ) — (18,164 ) — — — (274,599 ) (198,553 ) (200,242 ) (71,641 ) (4,759 ) (94,946 ) 7,672 10,341 6,731 Teekay LNG Liquefied Gas Carriers (71,323 ) (71,711 ) (71,485 ) — — — 84,171 115,478 123,282 Conventional Tankers (20,930 ) (22,416 ) (26,399 ) — — — — — — (92,253 ) (94,127 ) (97,884 ) — — — 84,171 115,478 123,282 Teekay Tankers (1) Conventional Tankers (71,429 ) (50,152 ) (47,833 ) — — — 14,411 5,228 854 Teekay Parent Offshore Production (69,508 ) (78,630 ) (77,551 ) — 2,521 (2,634 ) (12,196 ) (1,357 ) 4,649 Conventional Tankers (2,852 ) (2,216 ) (9,882 ) — — (92,699 ) 16,712 3,052 1,291 Other 451 774 2,306 — — 21,926 (1,101 ) (2,546 ) (269 ) (71,909 ) (80,072 ) (85,127 ) — 2,521 (73,407 ) 3,415 (851 ) 5,671 Other 690 — — — — — (6,798 ) (2,082 ) — (509,500 ) (422,904 ) (431,086 ) (71,641 ) (2,238 ) (168,353 ) 102,871 128,114 136,538 (1) Financial information for Teekay Tankers includes operations of the SPT Explorer Navigator Spirit A reconciliation of total segment assets to total assets presented in the accompanying consolidated balance sheets is as follows: December 31, 2015 $ December 31, 2014 $ Teekay Offshore - Offshore Logistics 2,591,489 2,186,789 Teekay Offshore - Offshore Production 2,717,193 1,261,569 Teekay Offshore - Conventional Tankers 63,900 150,044 Teekay LNG - Liquefied Gas Carriers 3,550,396 3,379,279 Teekay LNG - Conventional Tankers 360,527 381,175 Teekay Tankers - Conventional Tankers 2,073,059 1,000,864 Teekay Parent - Offshore Production 710,533 2,138,445 Teekay Parent - Conventional Tankers 142,236 138,504 Teekay Parent - Other 17,256 31,328 Cash and cash equivalents 678,392 806,904 Other assets not allocated 301,586 394,341 Eliminations (145,319 ) (89,552 ) Consolidated total assets 13,061,248 11,779,690 The following table includes capital expenditures by segment for the periods presented in these financial statements. December 31, 2015 $ December 31, 2014 $ Teekay Offshore - Offshore Logistics 552,219 154,896 Teekay Offshore - Offshore Production 120,160 17,022 Teekay Offshore - Conventional Tankers 97 251 Teekay LNG - Liquefied Gas Carriers 191,642 193,669 Teekay LNG - Conventional Tankers 327 586 Teekay Tankers - Conventional Tankers 848,250 2,063 Teekay Parent - Offshore Production 57,778 671,277 Teekay Parent - Conventional Tankers 92 (44 ) Teekay Parent - Other 199 13 1,770,764 1,039,733

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Investments	3. Investments a) Teekay LNG – Bahrain LNG Joint Venture In December 2015, Teekay LNG entered into an agreement with National Oil & Gas Authority (or Nogaholding Samsung GIC Bahrain LNG Joint Venture) FSU DSME b) Teekay Tankers – Principal Maritime In August 2015, Teekay Tankers agreed to acquire 12 modern Suezmax tankers from Principal Maritime Tankers Corporation (or Principal Maritime c) Teekay Tankers – Ship-to-Ship Transfer Business In July 2015, Teekay Tankers acquired a ship-to-ship transfer business (or SPT STS The acquisition of SPT was accounted for using the acquisition method of accounting, based upon preliminary estimates of fair value. The following table summarizes the preliminary estimates of fair values of the SPT assets acquired and liabilities assumed by Teekay Tankers on the acquisition date of July 31, 2015. Teekay Tankers is continuing to obtain information to finalize estimated fair value of the SPT assets acquired and liabilities assumed at the acquisition date of July 31, 2015 and expects to complete this process as soon as practicable, but no later than one year from the acquisition date. As at ASSETS Cash, cash equivalents and short-term restricted cash 1,292 Accounts receivable 10,332 Prepaid expenses and other current assets 3,763 Vessels and equipment 6,475 Other assets 143 Intangible assets subject to amortization Customer relationships (Note 6) 30,879 Total assets acquired 52,884 LIABILITIES Accounts payable (3,650 ) Accrued liabilities (3,276 ) Total liabilities assumed (6,926 ) Net assets acquired (1) 45,958 (1) Prior to the SPT acquisition date, SPT had in-chartered the SPT Explorer Operating results of SPT are reflected in the Company’s consolidated financial statements commencing July 31, 2015, the effective date of acquisition. Pro forma revenues and net income if the acquisition of SPT had occurred at the beginning of 2013 would not be materially different than actual operating results reported. Teekay Tankers has ascribed value to the customer relationships assumed as part of the acquisition of the STS transfer business. Aggregate amortization expense of intangible assets relating to this acquisition for the year ended December 31, 2015 was $1.3 million, which is included in depreciation and amortization. The Company’s prior 50% interest in SPT was remeasured to its estimated fair value on the acquisition date and the resulting gain of $8.7 million was recognized in equity income in July 2015. d) Teekay Offshore – Logitel Offshore Holding AS In August 2014, Teekay Offshore acquired 100% of the outstanding shares of Logitel Offshore Holding AS (or Logitel COSCO Teekay Offshore committed to acquire three UMS ordered from COSCO for a total cost of approximately $596 million, including estimated site supervision costs and license fees to be paid to Sevan Marine ASA (or Sevan Petrobras Arendal Spirit Teekay Offshore has assumed Logitel’s obligations under a bond agreement from Sevan as part of this acquisition. The bond is non-interest bearing and is repayable in amounts of $10.0 million within six months of delivery of each of the three UMS ordered from COSCO, for a total of $30.0 million, of which $10.0 million has been repaid as of December 31, 2015. If Logitel orders additional UMS with the Sevan cylindrical design, Logitel will be required to pay Sevan up to $11.9 million for each of the next three UMS ordered. If the fourth of six options with COSCO is not exercised by its option expiry date on November 30, 2016, Sevan has a one-time option to receive the remaining two options with COSCO. The acquisition of Logitel was accounted for using the acquisition method of accounting, based upon finalized estimates of fair value. The following table summarizes the preliminary and final valuations of the Logitel assets and liabilities on the acquisition date. The estimates of fair values of the Logitel assets acquired and liabilities assumed by Teekay Offshore were finalized during the second quarter of 2015. (in thousands of U.S. Dollars) Preliminary Adjustments Final Valuation ASSETS Cash and cash equivalents 8,089 — 8,089 Prepaid expenses 640 — 640 Advances on newbuilding contracts 46,809 (2,239 ) 44,570 Intangible assets — 1,000 1,000 Total assets acquired 55,538 (1,239 ) 54,299 LIABILITIES Accrued liabilities 4,098 — 4,098 Long-term debt 26,270 1,330 27,600 Total liabilities assumed 30,368 1,330 31,698 Net assets acquired 25,170 (2,569 ) 22,601 Cash consideration 4,000 — 4,000 Contingent consideration 21,170 (2,569 ) 18,601 Operating results of Logitel are reflected in the Company’s consolidated financial statements commencing August 11, 2014, the effective date of acquisition. Pro forma revenues and net income if the acquisition of Logitel had occurred at the beginning of 2014 would not be materially different than actual operating results reported. e) Teekay LNG – Yamal LNG Joint Venture In July 2014, Teekay LNG, through a new 50/50 joint venture with China LNG Shipping (Holdings) Limited (or China LNG Yamal LNG Joint Venture Yamal LNG Project As of December 31, 2015, Teekay LNG had advanced $96.9 million to the Yamal LNG Joint Venture to fund newbuilding installments (December 31, 2014 - $95.3 million), representing Teekay LNG’s proportionate share. f) Teekay LNG – BG International Limited Joint Venture In June 2014, Teekay LNG acquired from BG International Limited (or BG BG Joint Venture g) Teekay Offshore – ALP Maritime Services B.V. In March 2014, Teekay Offshore acquired 100% of the shares of ALP Maritime Services B.V. (or ALP Teekay Offshore acquired ALP for a purchase price of $2.6 million, which was paid in cash, and also entered into an arrangement to pay additional compensation to three former shareholders of ALP if certain requirements are satisfied. This contingent compensation consists of $2.4 million, which is payable upon the delivery and employment of ALP’s four newbuildings, which are scheduled throughout 2016, and a further amount of up to $2.6 million, which is payable if ALP’s annual operating results from 2017 to 2021 meet certain targets. Teekay Offshore has the option to pay up to 50% of this compensation through the issuance of common units of Teekay Offshore. Each of the contingent compensation amounts are payable only if the three former shareholders are employed by ALP at the time the performance conditions are met. For the year ended December 31, 2015, compensation cost was $0.7 million and was recorded in general and administrative expenses in the Company’s consolidated statements of income (December 31, 2014 - $0.5 million). Teekay Offshore also incurred a $1.0 million fee to a third party associated with the acquisition of ALP, which has been recognized in general and administrative expenses during 2014. The acquisition of ALP was accounted for using the purchase method of accounting, based upon finalized estimates of fair value. The following table summarizes the finalized estimates of fair values of the ALP assets acquired and liabilities assumed by Teekay Offshore on the acquisition date. (in thousands of U.S. dollars) As at ASSETS Cash and cash equivalents 294 Other current assets 404 Advances on newbuilding contracts 164 Other assets - long-term 395 Goodwill 2,032 Total assets acquired 3,289 LIABILITIES Current liabilities 387 Other long-term liabilities 286 Total liabilities assumed 673 Net assets acquired 2,616 Consideration 2,616 The goodwill recognized in connection with the ALP acquisition is attributable primarily to the assembled workforce of ALP, including their experience, skills and abilities. Operating results of ALP are reflected in the Company’s consolidated financial statements commencing March 14, 2014, the effective date of the acquisition. On a pro forma basis for the Company for the years ended December 31, 2014 and 2013, there would be no material changes to revenues and net income giving effect to Teekay Offshore’s acquisition of ALP as if it had taken place on January 1, 2014. h) Tanker Investments Ltd. In January 2014, Teekay and Teekay Tankers formed Tanker Investments Ltd. (or TIL

Investment in Term Loans

Investment in Term Loans	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Investment in Term Loans	4. Investment in Term Loans In February 2011, Teekay made a $70 million term loan (or the TKC Loan In July 2010, Teekay Tankers acquired two term loans, whose borrowers had the same ultimate parent company as the borrower under the TKC Loan, with a total principal amount outstanding of $115.0 million for a total cost of $115.6 million (or the TNK Loans Loans The borrowers of the Loans had been in default on their interest payment obligations since the first quarter of 2013, and of their loan principal and repayment premium obligations on the TNK Loans from their maturity date in July 2013. In March 2014, the Company exercised its rights under security documentation to realize the amounts owed under its investment in term loans and assumed full ownership of the three VLCC vessels, which previously secured the investment in term loans. At the time of assumption of ownership, these vessels had an aggregate fair value of approximately $222 million, which exceeded the carrying value of the Loans. As a result of the exercise of remedies and the increase in VLCC vessel values during early 2014, in the first quarter of 2014 the Company recognized $15.2 million of interest income, of which $11.2 million related to prior periods and was previously unrecognized, owing under the Loans. In May 2014, Teekay Tankers sold two single-ship wholly-owned subsidiaries, each of which owned one VLCC, to TIL for aggregate proceeds of $154 million, plus related working capital on closing. Teekay Tankers recognized a $10 million gain on the sale of the VLCCs in 2014.

Equity Financing Transactions

Equity Financing Transactions	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity Financing Transactions	5. Equity Financing Transactions During the years ended December 31, 2015, 2014, and 2013, the Company’s publicly traded subsidiaries, Teekay Tankers, Teekay Offshore and Teekay LNG, completed the following public offerings and private placements of equity securities: Total Proceeds $ Less: Teekay $ (1) Offering $ Net Proceeds $ 2015 Teekay Offshore Preferred B Units Offering 125,000 — (4,210 ) 120,790 Teekay Offshore Preferred C Units Offering 250,000 — (250 ) 249,750 Teekay Offshore Continuing Offering Program 3,551 (71 ) (66 ) 3,414 Teekay LNG Continuous Offering Program 36,274 (725 ) (900 ) 34,649 Teekay Tankers Public Offering 13,716 — (31 ) 13,685 Teekay Tankers Continuous Offering Program 94,595 — (2,155 ) 92,440 Teekay Tankers Private Placement 109,907 — — 109,907 2014 Teekay Offshore Continuous Offering Program 7,784 (156 ) (153 ) 7,475 Teekay Offshore Direct Equity Placement 178,569 (3,571 ) (75 ) 174,923 Teekay LNG Public Offering 140,784 (2,816 ) (299 ) 137,669 Teekay LNG Continuous Offering Program 42,556 (851 ) (901 ) 40,804 Teekay Tankers Public Offering 116,000 (20,000 ) (4,810 ) 91,190 2013 Teekay Offshore Direct Equity Placements 115,688 (2,314 ) (188 ) 113,186 Teekay Offshore Preferred Units Offering 150,000 — (5,200 ) 144,800 Teekay Offshore Continuous Offering Program 2,819 (59 ) (449 ) 2,311 Teekay LNG Continuous Offering Program 5,383 (107 ) (457 ) 4,819 Teekay LNG Direct Equity Placement 40,816 (816 ) (40 ) 39,960 Teekay LNG Public Offering 150,040 (3,001 ) (5,222 ) 141,817 In 2015, in addition to the issuances of equity to third parties noted in the table above, Teekay purchased $30.0 million or 4.5 million shares of Class A common stock of Teekay Tankers for Teekay Tankers to partially finance the acquisition of 12 modern Suezmax tankers from Principal Maritime (see Note 3b), $300.0 million or 14.4 million common units of Teekay Offshore for Teekay Offshore to partially finance the July 1, 2015 acquisition of the Petrojarl Knarr In August 2014, Teekay Tankers purchased from Teekay a 50% interest in Teekay Tanker Operations Ltd. ( TTOL In April 2013, the Voyageur Spirit Voyageur Spirit As a result of the public offerings and equity placements of Teekay Tankers, Teekay Offshore and Teekay LNG, the Company recorded (decreases) increases to retained earnings of ($152.7) million (2015), $68.4 million (2014) and $36.7 million (2013). These amounts represent Teekay’s dilution (losses) gains from the issuance of units and shares by these consolidated subsidiaries.

Goodwill, Intangible Assets and

Goodwill, Intangible Assets and In-Process Revenue Contracts	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Goodwill, Intangible Assets and In-Process Revenue Contracts	6. Goodwill, Intangible Assets and In-Process Revenue Contracts Goodwill The carrying amount of goodwill for the years ended December 31, 2015 and 2014, for the Company’s reportable segments are as follows: Teekay Offshore Offshore Logistics Teekay LNG Segment - Liquefied Gas Total $ $ $ Balance as of December 31, 2013 130,908 35,631 166,539 Goodwill acquired 2,032 — 2,032 Balance as of December 31, 2014 and 2015 132,940 35,631 168,571 In March 2014, Teekay Offshore acquired 100% of the shares of ALP, a Netherlands-based provider of long-distance ocean towage and offshore installation services to the global offshore oil and gas industry. The goodwill recognized in connection with the ALP acquisition is attributable primarily to the assembled workforce of ALP, including their experience, skills and abilities (see Note 3g). Intangible Assets As at December 31, 2015, the Company’s intangible assets consisted of: Gross Carrying Accumulated Net Carrying Amount $ $ $ Customer contracts 316,684 (234,894 ) 81,790 Customer relationships 30,879 (1,260 ) 29,619 Other intangible assets 1,000 (500 ) 500 348,563 (236,654 ) 111,909 As at December 31, 2014 the Company’s intangible assets consisted of: Gross Carrying $ Accumulated $ Net Carrying Amount $ Customer contracts 316,684 (223,018 ) 93,666 Other intangible assets 1,000 — 1,000 317,684 (223,018 ) 94,666 In July 2015, as part of Teekay Tankers’ acquisition of SPT (see Note 3c), Teekay Tankers ascribed a value of $30.9 million to the customer relationships assumed as part of the acquisition of the STS transfer business. The Company is amortizing the customer relationships over a period of 10 years. Amortization expense relating to this acquisition for the year ended December 31, 2015 was $1.3 million, which is included in depreciation and amortization. Aggregate amortization expense of intangible assets for the year ended December 31, 2015, was $13.6 million (2014 - $13.2 million, 2013 - $18.2 million), which is included in depreciation and amortization. Amortization of intangible assets following 2015 is expected to be $15.1 million (2016), $12.8 million (2017), $11.8 million (2018), $11.8 million (2019), $11.8 million (2020) and $48.6 million (thereafter). In-Process Revenue Contracts As part of the Company’s acquisition of FPSO units from Sevan and its previous acquisition of Petrojarl ASA (subsequently renamed Teekay Petrojarl AS, or Teekay Petrojarl Amortization of in-process revenue contracts for the year ended December 31, 2015 was $30.1 million (2014 - $40.9 million, 2013 - $61.7 million), which is included in revenues on the consolidated statements of income. Amortization following 2015 is expected to be $32.1 million (2016), $30.7 million (2017), $22.5 million (2018), $14.3 million (2019), $13.8 million (2020) and $37.4 million (thereafter).

Accrued Liabilities and Other L

Accrued Liabilities and Other Long-Term Liabilities	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Liabilities and Other Long-Term Liabilities	7. Accrued Liabilities and Other Long-Term Liabilities Accrued Liabilities December 31, 2015 $ December 31, 2014 $ Voyage and vessel expenses 168,120 163,155 Interest 66,110 60,064 Payroll and benefits and other 88,239 100,606 Deferred revenue - current 76,883 66,027 Loan from affiliates 12,426 4,907 Liabilities associated with assets held for sale 500 — 412,278 394,759 Other Long-Term Liabilities December 31, 2015 $ December 31, 2014 $ Deferred revenues and gains 248,984 253,639 Guarantee liability 26,467 24,880 Asset retirement obligation 25,484 25,006 Pension liabilities 14,953 31,365 Contingent consideration liability 6,225 18,969 Unrecognized tax benefits and deferred income tax 21,967 21,779 Other 8,298 7,451 352,378 383,089

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	8. Long-Term Debt December 31, 2015 $ December 31, 2014 $ Revolving Credit Facilities 1,500,848 1,766,824 Senior Notes (8.5%) due January 15, 2020 592,657 392,657 Norwegian Kroner-denominated Bonds due through May 2020 621,957 697,798 U.S. Dollar-denominated Term Loans due through 2028 4,020,665 3,103,255 U.S. Dollar Bonds due through 2024 502,449 496,098 Euro-denominated Term Loans due through 2023 241,798 284,993 Total principal 7,480,374 6,741,625 Unamortized discount and debt issuance costs (96,288) (89,649) Total debt 7,384,086 6,651,976 Less current portion (1,106,104) (652,645 ) Long-term portion 6,277,982 5,999,331 As of December 31, 2015, the Company had 12 revolving credit facilities (or the Revolvers Teekay’s $300 million revolving credit facility is secured by common units of Teekay Offshore and Teekay LNG that are owned by Teekay. On October 5, 2015, Teekay amended the existing equity margin revolving credit facility to pledge additional common units of Teekay Offshore owned by Teekay and shares of Class A common stock of Teekay Tankers owned by Teekay and modify the required loan to value ratio. If, as a result of a decline in the aggregate market value of the pledged securities, the outstanding balance of the loans exceeds the loan-to-value ratio, the Company must prepay amounts under the facility. In December 2015, Teekay finalized with its lenders another amendment to decrease the maximum amount available under the existing equity margin revolving credit facility by $200 million to a $300 million credit facility and to include loan-to-value thresholds. As of December 31, 2015, based on the loan-to-value thresholds, there was $41.7 million credit available under this facility, of which $28.2 million was drawn and $13.5 million was undrawn. The Company’s 8.5% senior unsecured notes are due January 15, 2020 with an original principal amount of $450 million (or the Original Notes the Notes 8.5% Notes) The Company capitalized issuance costs of $13.3 million which will be amortized to interest expense over the term of the 8.5% Notes. As of December 31, 2015, the unamortized balance of the capitalized issuance cost was $7.4 million, which is recorded in long-term debt in the consolidated balance sheet. The 8.5% Notes rank equally in right of payment with all of Teekay’s existing and future senior unsecured debt and senior to any future subordinated debt of Teekay. The 8.5% Notes are not guaranteed by any of Teekay’s subsidiaries and effectively rank behind all existing and future secured debt of Teekay and other liabilities of its subsidiaries. The Company may redeem the 8.5% Notes in whole or in part at any time before their maturity date at a redemption price equal to the greater of (i) 100% of the principal amount of the 8.5% Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 8.5% Notes to be redeemed (excluding accrued interest), discounted to the redemption date on a semi-annual basis, at the treasury yield plus 50 basis points, plus accrued and unpaid interest to the redemption date. During 2014, the Company repurchased the principal amount of $57.3 million of the 8.5% Notes at a premium of $7.7 million and such amount is reflected in other income in the Company’s consolidated statements of income. Prior to 2015, Teekay Offshore, Teekay LNG and Teekay issued in the Norwegian bond market a total of NOK 5.2 billion of senior unsecured bonds that mature through January 2019. Senior unsecured bonds in an aggregate principal amount of NOK 700 million matured in October 2015. As at December 31, 2015, the total carrying amount of the remaining NOK 4.5 billion senior unsecured bonds was $508.9 million. The bonds are listed on the Oslo Stock Exchange. The interest payments on the bonds are based on NIBOR plus a margin, which ranges from 4.00% to 5.75%. The Company entered into cross currency rate swaps to swap all interest and principal payments of the bonds into U.S. Dollars, with the interest payments fixed at rates ranging from 4.94% to 7.49%, and the transfer of principal fixed at $771.8 million upon maturity in exchange for NOK 4.5 billion (see Note 15). In May 2015, Teekay LNG issued in the Norwegian bond market NOK 1,000 million in senior unsecured bonds that mature in May 2020. As of December 31, 2015, the carrying amount of the bonds was $113.1 million. The interest payments on the bonds are based on NIBOR plus a margin of 3.70%. Teekay LNG entered into a cross currency swap to swap all interest and principal payments into U.S. Dollars, with the interest payments fixed at a rate of 5.92%, and the transfer of the principal amount fixed at $134.0 million upon maturity in exchange for NOK 1,000 million (see Note 15). The net proceeds from the bond offering were used for general partnership purposes. The bonds are listed on the Oslo Stock Exchange. As of December 31, 2015, the Company had 26 U.S. Dollar-denominated term loans outstanding, which totaled $4.0 billion in aggregate principal amount (December 31, 2014 – $3.1 billion). Certain of the term loans with a total outstanding principal balance of $48.6 million as at December 31, 2015 (December 31, 2014 – $37.8 million) bear interest at a weighted-average fixed rate of 4.0% (December 31, 2014 – 4.8%). Interest payments on the remaining term loans are based on LIBOR plus a margin. At December 31, 2015 and December 31, 2014, the margins ranged between 0.3% and 3.25%. At December 31, 2015 and December 31, 2014, the three-month LIBOR was 0.61% and 0.26%, respectively. The term loan payments are made in quarterly or semi-annual payments commencing three or six months after delivery of each newbuilding vessel financed thereby, and 23 of the term loans have balloon or bullet repayments due at maturity. The term loans are collateralized by first-priority mortgages on 67 (December 31, 2014 – 34) of the Company’s vessels, together with certain other security. In addition, at December 31, 2015, all but $64.6 million (December 31, 2014 – $79.3 million) of the outstanding term loans were guaranteed by Teekay or its subsidiaries. During May 2014, Teekay Offshore issued $300 million in five-year senior unsecured bonds that mature in July 2019 in the U.S. bond market. As of December 31, 2015, the carrying amount of the bonds was $300.0 million. The bonds are listed on the New York Stock Exchange. The interest payments on the bonds are fixed at a rate of 6.0%. In September 2013 and November 2013, Teekay Offshore issued $174.2 million of ten-year senior bonds that mature in December 2023 and that were issued in a U.S. private placement to finance the Bossa Nova Spirit Sertanejo Spirit In February 2015, Teekay Offshore issued $30.0 million in senior bonds that mature in June 2024 in a U.S. private placement. As of December 31, 2015, the carrying amount of the bonds was $27.1 million. The interest payments on the bonds are fixed at a rate of 4.27%. The bonds are collateralized by a first-priority mortgage on the Dampier Spirit FSO unit to which the bonds relate, together with other related security and are guaranteed by two subsidiaries of Teekay Offshore. In August 2014, Teekay Offshore assumed Logitel’s obligations under a bond agreement from Sevan as part of the acquisition (see note 3d). The bonds are retractable at par at any time by Teekay Offshore. As of December 31, 2015, the outstanding amount of the bonds was $20.0 million with a carrying value of $18.8 million and the bonds are guaranteed by Teekay Offshore. Teekay LNG has two Euro-denominated term loans outstanding, which, as at December 31, 2015, totaled 222.7 million Euros ($241.8 million) (December 31, 2014 – 235.6 million Euros ($285.0 million)). Teekay LNG is repaying the loans with funds generated by two Euro-denominated, long-term time-charter contracts. Interest payments on the loans are based on EURIBOR plus a margin. At December 31, 2015 and December 31, 2014, the margins ranged between 0.6% and 2.25% and the one-month EURIBOR at December 31, 2015 was (0.21%) (December 31, 2014 – 0.02%). The Euro-denominated term loans reduce in monthly payments with varying maturities through 2023, are collateralized by first-priority mortgages on two of Teekay LNG’s vessels, together with certain other security, and are guaranteed by Teekay LNG and one of its subsidiaries. Both Euro-denominated term loans and NOK-denominated bonds are revalued at the end of each period using the then-prevailing U.S. Dollar exchange rate. Due primarily to the revaluation of the Company’s NOK-denominated bonds, the Company’s Euro-denominated term loans, capital leases and restricted cash, and the change in the valuation of the Company’s cross currency swaps, the Company recognized foreign exchange loss of $2.2 million (2014 – $13.4 million gain, 2013 – $13.3 million loss). The weighted-average effective interest rate on the Company’s aggregate long-term debt as at December 31, 2015 was 3.4% (December 31, 2014 – 3.2%). This rate does not include the effect of the Company’s interest rate swap agreements (see Note 15). In January 2016, Teekay Tankers entered into a new $894.4 million long-term debt facility, consisting of both a term loan and a revolving credit facility, which is scheduled to mature in January 2021, of which $845.8 million was used to repay Teekay Tankers’ two bridge loan facilities which matured in late January 2016 and Teekay Tankers’ main corporate revolving credit facility which was scheduled to mature in 2017. The aggregate annual long-term debt principal repayments required to be made by the Company subsequent to December 31, 2015, including the impact of Teekay Tankers' debt refinancing completed in January 2016, are $1.1 billion (2016), $1.1 billion (2017), $1.6 billion (2018), $0.9 billion (2019), $1.1 billion (2020) and $1.7 billion (thereafter). Among other matters, the Company’s long-term debt agreements generally provide for maintenance of minimum consolidated financial covenants and 11 loan agreements require the maintenance of vessel market value to loan ratios. As at December 31, 2015, these ratios ranged from 126.5% to 1,076.8% compared to their minimum required ratios of 105% to 135%. The vessel values used in these ratios are the appraised values prepared by the Company based on second hand sale and purchase market data. Changes in the conventional tanker, FPSO, shuttle tanker, towage and UMS market and a weakening of the LNG/LPG carrier market could negatively affect the Company’s compliance with these ratios. Certain loan agreements require that a minimum level of free cash be maintained and as at December 31, 2015 and December 31, 2014, this amount was $100.0 million. Most of the loan agreements also require that the Company maintain an aggregate minimum level of free liquidity and undrawn revolving credit lines with at least six months to maturity, in amounts ranging from 5% to 7.5% of total debt. As at December 31, 2015, this aggregate amount was $410.5 million (December 31, 2014- $368.1 million). As at December 31, 2015, the Company was in compliance with all covenants under its credit facilities and other long-term debt.

Operating and Direct Financing

Operating and Direct Financing Leases	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Operating and Direct Financing Leases	9. Operating and Direct Financing Leases Charters-in As at December 31, 2015, minimum commitments to be incurred by the Company under vessel operating leases by which the Company charters-in vessels were approximately $185.5 million, comprised of $106.8 million (2016), $52.1 million (2017), $8.7 million (2018), $8.3 million (2019), $8.3 million (2020) and $1.3 million (thereafter). The Company recognizes the expense from these charters, which is included in time-charter hire expense, on a straight-line basis over the firm period of the charters. Charters-out Time charters and bareboat charters of the Company’s vessels to third parties (except as noted below) are accounted for as operating leases. Certain of these charters provide the charterer with the option to acquire the vessel or the option to extend the charter. As at December 31, 2015, minimum scheduled future revenues to be received by the Company on time charters and bareboat charters then in place were approximately $9.2 billion, comprised of $1.5 billion (2016), $1.4 billion (2017), $1.3 billion (2018), $1.2 billion (2019), $1.1 billion (2020) and $2.7 billion (thereafter). The minimum scheduled future revenues should not be construed to reflect total charter hire revenues for any of the years. Minimum scheduled future revenues do not include revenue generated from new contracts entered into after December 31, 2015, revenue from unexercised option periods of contracts that existed on December 31, 2015, revenue from vessels in the Company’s equity accounted investments, or variable or contingent revenues. In addition, minimum scheduled future revenues presented in this paragraph have been reduced by estimated off-hire time for scheduled periodic maintenance. The amounts may vary given future events such as unscheduled vessel maintenance. The carrying amount of the vessels accounted for as operating leases at December 31, 2015, was $7.1 billion (2014 - $6.8 billion). The cost and accumulated depreciation of the vessels employed on operating leases as at December 31, 2015 were $9.6 billion (2014 - $8.9 billion) and $2.5 billion (2014 - $2.1 billion), respectively. Operating Lease Obligations Teekay Tangguh Joint Venture As at December 31, 2015, the Teekay Tangguh Joint Venture was a party to operating leases (or Head Leases Tangguh LNG Carriers Subleases As at December 31, 2015, the total estimated future minimum rental payments to be received and paid under the lease contracts are as follows: Head Lease Sublease Year Receipts (1) Payments (1)(2) 2016 21,242 24,113 2017 21,242 24,113 2018 21,242 24,113 2019 21,242 24,113 2020 21,242 24,113 Thereafter 175,337 199,072 Total $ 281,547 $ 319,637 (1) The Head Leases are fixed-rate operating leases while the Subleases have a small variable-rate component. As at December 31, 2015, the Teekay Tangguh Subsidiary had received $228.8 million of aggregate Head Lease receipts and had paid $163.7 million of aggregate Sublease payments. The portion of the Head Lease receipts that have not been recognized into earnings, is deferred and amortized on a straight line basis over the lease terms and, as at December 31, 2015, $3.8 million and $40.4 million of Head Lease receipts had been deferred and included in accrued liabilities and other long-term liabilities, respectively, in the Company’s consolidated balance sheets. (2) The amount of payments under the Subleases is updated annually to reflect any changes in the lease payments due to changes in tax law. Net Investment in Direct Financing Leases The time charters for the two Tangguh LNG carriers and one FSO unit of Teekay Offshore are accounted for as direct financing leases. In addition, in September and November 2013, Teekay LNG acquired two 155,900-cubic meter LNG carriers (or Awilco LNG Carriers Awilco December 31, December 31, 2015 2014 $ $ Total minimum lease payments to be received 855,655 936,164 Estimated unguaranteed residual value of leased properties 203,465 203,465 Initial direct costs and other 428 461 Less unearned revenue (375,419 ) (435,137 ) Total 684,129 704,953 Less current portion (26,542 ) (20,823) Long-term portion 657,587 684,130 As at December 31, 2015, minimum lease payments to be received by the Company in each of the next five years following 2015 were $83.9 million (2016), $207.9 million (2017), $173.7 million (2018), $39.1 million (2019) and $39.2 million (2020). The FSO contract is scheduled to expire in 2017, the LNG time charters are both scheduled to expire in 2029 and the two LNG carriers under the Awilco LNG carrier leases expire in 2017 and 2018.

Capital Lease Obligations

Capital Lease Obligations	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Capital Lease Obligations	10. Capital Lease Obligations Capital Lease Obligations December 31, December 31, 2015 2014 $ $ Suezmax Tankers 59,127 63,550 Less current portion (4,546) (4,422) Long-term portion 54,581 59,128 As at December 31, 2015, Teekay LNG was a party to capital leases on two Suezmax tankers. Under these capital leases, the owner has the option to require Teekay LNG to purchase the two vessels. The charterer, who is also the owner, also has the option to cancel the charter contracts and the cancellation options are first exercisable in October 2017 and July 2018, respectively. The amounts in the table below assume the owner will not exercise its options to require Teekay LNG to purchase either of the two remaining vessels, but rather it assumes the owner will cancel the charter contracts when the cancellation right is first exercisable (in October 2017 and July 2018, respectively), and sell the vessels to a third party, upon which the lease obligation will be extinguished. At the inception of these leases, the weighted-average interest rate implicit in these leases was 5.5%. These capital leases are variable-rate capital leases. However, any change in the lease payments resulting from changes in interest rates is offset by a corresponding change in the charter hire payments received by Teekay LNG. As at December 31, 2015, the remaining commitments under the two capital leases, including the purchase obligations for the two Suezmax tankers, approximated $65.9 million, including imputed interest of $6.8 million, repayable from 2016 through 2018, as indicated below: Year Commitment 2016 $ 7,673 2017 $ 30,953 2018 $ 27,296 The Company’s capital leases do not contain financial or restrictive covenants other than those relating to operation and maintenance of the vessels.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements The following methods and assumptions were used to estimate the fair value of each class of financial instruments and other non-financial assets. Cash and cash equivalents, restricted cash and marketable securities Vessels and equipment and assets held for sale Loans to equity-accounted investees and joint venture partners Long-term receivable included in accounts receivable and other assets Long-term debt and liabilities associated with assets held for sale Derivative instruments The Company categorizes its fair value estimates using a fair value hierarchy based on the inputs used to measure fair value. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value as follows: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at a fair value on a recurring basis. December 31, 2015 December 31, 2014 Fair Carrying $ Fair Value Asset $ Carrying $ Fair Value Asset $ Recurring Cash and cash equivalents, restricted cash, and marketable securities Level 1 855,107 855,107 927,679 927,679 Derivative instruments (note 15) Interest rate swap agreements - assets (1) Level 2 6,136 6,136 1,051 1,051 Interest rate swap agreements - liabilities (1) Level 2 (370,952 ) (370,952 ) (406,783 ) (406,783 ) Cross currency interest swap agreement (1) Level 2 (312,110 ) (312,110 ) (221,391 ) (221,391 ) Foreign currency contracts Level 2 (18,826 ) (18,826 ) (18,407 ) (18,407 ) Stock purchase warrants (note 3h and 15) Level 3 10,328 10,328 9,314 9,314 Logitel contingent consideration (see below) Level 3 (14,830 ) (14,830 ) (21,448 ) (21,448 ) Non-recurring Vessels and equipment (note 18b) Level 2 100,600 100,600 — — Assets held for sale (note 18b) Level 2 55,450 55,450 — — Other Loans to equity-accounted investees and joint venture partners - Current (2) 7,127 (2) 26,209 (2) Loans to equity-accounted investees and joint venture partners - Long-term (2) 184,390 (2) 227,217 (2) Long-term receivable (3) Level 2 16,453 16,427 17,137 17,164 Long-term debt - public (note 8) Level 1 (1,493,915 ) (1,161,729 ) (1,371,174 ) (1,405,711 ) Long-term debt - non-public (note 8) Level 2 (5,890,171 ) (5,881,483 ) (5,280,802 ) (5,263,586 ) (1) The fair value of the Company’s interest rate swap agreements at December 31, 2015 includes $21.7 million (December 31, 2014 - $24.5 million) accrued interest expense which is recorded in accrued liabilities on the consolidated balance sheets. (2) In the consolidated financial statements, the Company’s loans to and equity investments in equity-accounted investees form the aggregate carrying value of the Company’s interests in entities accounted for by the equity method. In addition, the loans to joint venture partners together with the joint venture partner’s equity investment in joint ventures form the net aggregate carrying value of the Company’s interest in the joint ventures. The fair value of the individual components of such aggregate interests is not determinable. (3) As at December 31, 2015, the estimated fair value of the non-interest bearing receivable was based on the remaining future fixed payments of $18.2 million to be received from BG, as part of the ship construction support agreement, as well as an estimated discount rate of 8.0%. As there is no market rate for the equivalent of an unsecured non-interest bearing receivable from BG, the discount rate was based on unsecured debt instruments of similar maturity held, adjusted for a liquidity premium. A higher or lower discount rate would result in a lower or higher fair value asset. Stock purchase warrants Changes in fair value during the year ended December 31, 2015 for one of the Company’s derivative instruments, the TIL stock purchase warrants, which are described below and are measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Year Ended December 31, 2015 2014 $ $ Fair value at the beginning of the year 9,314 — Fair value on issuance — 6,840 Unrealized gain included in earnings 1,014 2,474 Fair value at the end of the year 10,328 9,314 Logitel contingent consideration liability CeFront Teekay Offshore will owe the additional amount of up to $27.6 million if there are no yard cost overruns and no charterer late delivery penalties; the two unchartered UMS under construction are chartered above specified rates and no material defects from construction are identified up until one year after the delivery of each UMS. To the extent such events occur, the potential additional amount of $27.6 million will be reduced in accordance with the terms of the purchase agreement. The estimated fair value of the contingent consideration liability of $14.8 million at December 31, 2015 is the amount Teekay Offshore expects to pay to CeFront discounted to its present value using a weighted average cost of capital rate of 11.5%. As of December 31, 2015, the amount of the expected payments for each UMS was based upon the status of the construction project for the remaining two UMS newbuildings, the state of the charter market for the remaining two UMS newbuildings, the expectation of potential material defects for each UMS and, to a lesser extent, the timing of delivery of the remaining two UMS newbuildings. An increase (decrease) in Teekay Offshore’s estimates of yard cost overruns, charterer late delivery penalties, material defects and the discount rate, as well as a decrease (increase) in Teekay Offshore’s estimates of day rates at which it expects to charter the two unchartered UMS, will decrease (increase) the estimated fair value of the contingent consideration liability. Changes in the estimated fair value of Teekay Offshore’s contingent consideration liability relating to the acquisition of Logitel, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3), during the year ended December 31, 2015 is as follows: Year Ended December 31, 2015 2014 $ $ Balance at beginning of year (21,448 ) — Acquisition of Logitel 2,569 (21,170 ) Settlement of liability 3,540 — Unrealized gain (loss) included in Other income 509 (278 ) Balance at end of year (14,830 ) (21,448 )

Capital Stock

Capital Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Capital Stock	12. Capital Stock The authorized capital stock of Teekay at December 31, 2015 and 2014, was 25,000,000 shares of Preferred Stock, with a par value of $1 per share, and 725,000,000 shares of Common Stock, with a par value of $0.001 per share. During 2015, the Company issued 0.2 million common shares upon the exercise of stock options and restricted stock units and awards, and had no share repurchases of common shares. During 2014, the Company issued 1.8 million common shares upon the exercise of stock options and restricted stock units and awards, and had no share repurchases of common shares. As at December 31, 2015, Teekay had issued 72,711,371 shares of Common Stock (2014 – 73,399,702) and no shares of Preferred Stock issued. As at December 31, 2015, Teekay had 72,711,371 shares of Common Stock outstanding (2014 – 72,500,502). Dividends may be declared and paid out of surplus, but if there is no surplus, dividends may be declared or paid out of the net profits for the fiscal year in which the dividend is declared and for the preceding fiscal year. Surplus is the excess of the net assets of the Company over the aggregated par value of the issued shares of the Teekay. Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of common stock are entitled to share equally in any dividends that the board of directors may declare from time to time out of funds legally available for dividends. During 2008, Teekay announced that its Board of Directors had authorized the repurchase of up to $200 million of shares of its Common Stock in the open market, subject to cancellation upon approval by the Board of Directors. As at December 31, 2015, Teekay had repurchased approximately 5.2 million shares of Common Stock for $162.3 million pursuant to such authorization. The total remaining share repurchase authorization at December 31, 2015, was $37.7 million. The shares of Common Stock repurchased during 2013 were under a separate authorization. On July 2, 2010, the Company amended and restated its Shareholder Rights Agreement (the Rights Agreement Right Stock-based compensation In March 2013, the Company adopted the 2013 Equity Incentive Plan (or the 2013 Plan Plans During the years ended December 31, 2015, 2014 and 2013, the Company granted options under the 2013 Plan to acquire up to 265,135, 15,243 and 72,810 shares of Common Stock, respectively, to certain eligible officers, employees and directors of the Company. The options under the Plans have ten-year terms and vest equally over three years from the grant date. All options outstanding as of December 31, 2015, expire between March 7, 2016 and March 9, 2025, ten years after the date of each respective grant. A summary of the Company’s stock option activity and related information for the years ended December 31, 2015, 2014, and 2013, are as follows: December 31, 2015 December 31, 2014 December 31, 2013 Options Weighted- $ Options Weighted- $ Options Weighted- $ Outstanding - beginning of year 2,710 36.61 4,237 36.33 5,285 34.40 Granted 265 43.99 15 56.76 73 34.07 Exercised (36 ) 33.79 (1,528 ) 36.10 (1,039 ) 26.21 Forfeited / expired (139 ) 46.80 (14 ) 28.51 (82 ) 38.46 Outstanding - end of year 2,800 36.84 2,710 36.61 4,237 36.33 Exercisable - end of year 2,500 36.03 2,508 37.03 3,848 37.03 A summary of the Company’s non-vested stock option activity and related information for the years ended December 31, 2015, 2014 and 2013, are as follows: December 31, 2015 December 31, 2014 December 31, 2013 Options (000’s) # Weighted- Average Grant Date Fair Value $ Options (000’s) # Weighted- Average Grant Value $ Options (000’s) # Weighted- Average Grant Date Fair Value $ Outstanding non-vested stock options - beginning of year 202 9.37 389 9.24 723 8.74 Granted 265 7.74 15 11.50 73 10.54 Vested (167 ) 9.07 (188 ) 9.30 (401 ) 8.57 Forfeited — — (14 ) 9.01 (6 ) 9.46 Outstanding non-vested stock options - end of year 300 8.09 202 9.37 389 9.24 The weighted average grant date fair value for non-vested options forfeited in 2015 was $0 (2014 - $0.1 million, 2013 - $0.1 million). As of December 31, 2015, there was $0.4 million of total unrecognized compensation cost related to non-vested stock options granted under the Plans. Recognition of this compensation is expected to be $0.2 million (2016), and $0.2 million (2017). During the years ended December 31, 2015, 2014, and 2013, the Company recognized $1.7 million, $1.0 million and $1.8 million, respectively, of compensation cost relating to stock options granted under the Plans. The intrinsic value of options exercised during 2015 was $0.5 million (2014 - $22.6 million; 2013 - $22.6 million). As at December 31, 2015, there was no intrinsic value in the outstanding and exercisable stock options. As at December 31, 2014, the intrinsic value in the outstanding in-the-money stock options was $39.0 million and the intrinsic value in the exercisable in-the-money stock options $35.0 million. As at December 31, 2015, the weighted-average remaining life of options vested and expected to vest was 3.4 years (2014 – 3.6 years). Further details regarding the Company’s outstanding and exercisable stock options at December 31, 2015 are as follows: Outstanding Options Exercisable Options Range of Exercise Prices Options Weighted- Weighted- $ Options Weighted- Weighted- $ $10.00 – $19.99 188 3.2 11.84 188 3.2 11.84 $20.00 – $24.99 293 4.2 24.42 293 4.2 24.42 $25.00 – $29.99 365 6.2 27.69 365 6.2 27.69 $30.00 – $34.99 117 6.3 34.44 93 6.1 34.53 $35.00 – $39.99 364 0.4 39.01 364 0.4 39.01 $40.00 – $44.99 1,029 4.0 41.33 764 2.2 40.41 $50.00 – $54.99 429 1.2 51.40 429 1.2 51.40 $55.00 – $59.99 15 8.2 56.76 5 8.2 56.76 2,800 3.5 36.84 2,500 2.8 36.03 The weighted-average grant-date fair value of options granted during 2015 was $7.74 per option (2014 - $11.50, 2013 - $10.54). The fair value of each option granted was estimated on the date of the grant using the Black-Scholes option pricing model. The following weighted-average assumptions were used in computing the fair value of the options granted: expected volatility of 31.1% in 2015, 34.7% in 2014 and 53.7% in 2013; expected life of five years in 2015 and 2014 and four years in 2013; dividend yield of 4.4% in 2015 and 2014 and 4.8% in 2013; risk-free interest rate of 1.4% in 2015, 1.6% in 2014, and 0.8% in 2013; and estimated forfeiture rate of 8% in 2015 and 12% in 2014 and 2013. The expected life of the options granted was estimated using the historical exercise behavior of employees. The expected volatility was generally based on historical volatility as calculated using historical data during the five years prior to the grant date. The Company grants restricted stock units and performance share units to certain eligible officers and employees of the Company. Each restricted stock unit and performance share unit is equivalent in value to one share of the Company’s common stock plus reinvested dividends from the grant date to the vesting date. The restricted stock units vest equally over three years from the grant date and the performance share units vest two or three years from the grant date. Upon vesting, the value of the restricted stock units, restricted stock awards and performance shares are paid to each grantee in the form of shares or cash. The number of performance share units that vest will range from zero to a multiple of the original number granted, based on certain performance and market conditions. During 2015, the Company granted 63,912 restricted stock units with a fair value of $2.8 million and 61,774 performance share units with a fair value of $3.4 million, based on the quoted market price and a Monte Carlo valuation model, to certain of the Company’s employees. During 2015, a total of 101,419 restricted stock units with a market value of $4.3 million vested and that amount, net of withholding taxes, was paid to grantees by issuing 98,381 shares of common stock. During 2014, the Company granted 81,388 restricted stock units with a fair value of $4.6 million and 50,689 performance share units with a fair value of $3.4 million, based on the quoted market price and a Monte Carlo valuation model, to certain of the Company’s employees. During 2014, a total of 261,911 restricted stock units with a market value of $8.5 million vested and that amount, net of withholding taxes, was paid to grantees by issuing 149,082 shares of common stock. During 2013, the Company granted 158,957 restricted stock units with a fair value of $5.4 million and 54,773 performance share units with a fair value of $2.3 million, based on the quoted market price and a Monte Carlo valuation model, to certain of the Company’s employees. During 2013, a total of 296,798 restricted stock units with a market value of $8.8 million vested and that amount, net of withholding taxes, was paid to grantees by issuing 175,206 shares of common stock. For the year ended December 31, 2015, the Company recorded an expense of $4.5 million (2014 - $7.5 million, 2013 - $9.9 million) related to the restricted stock units and performance share units. During 2015, the Company also granted 22,502 (2014 – 18,230 and 2013 – 26,412) shares as restricted stock awards with a fair value of $1.0 million (2014 – $1.0 million and 2013 – $0.9 million), based on the quoted market price, to certain of the Company’s directors. The shares of restricted stock are issued when granted. Share-based Compensation of Subsidiaries During the years ended December 31, 2015, 2014 and 2013, 14,603, 9,482 and 8,307 common units of Teekay Offshore, 10,447, 9,521 and 7,362 common units of Teekay LNG and 51,948, 17,073 and 142,157 shares of Class A common stock of Teekay Tankers, with aggregate values of $1.0 million, $0.8 million, and $1.0 million, respectively, were granted and issued to the non-management directors of the general partners of Teekay Offshore and Teekay LNG and the non-management directors of Teekay Tankers as part of their annual compensation for 2015, 2014 and 2013. Teekay Offshore, Teekay LNG and Teekay Tankers grant equity-based compensation awards as incentive-based compensation to certain employees of Teekay’s subsidiaries that provide services to Teekay Offshore, Teekay LNG and Teekay Tankers. During March 2015, 2014 and 2013, Teekay Offshore and Teekay LNG granted phantom unit awards and Teekay Tankers granted restricted stock-based compensation awards with respect to 102,843, 67,569 and 63,309 units of Teekay Offshore, 32,054, 31,961 and 36,878 units of Teekay LNG and 192,387, 586,014 and 411,629 Class A common shares of Teekay Tankers, respectively, with aggregate grant date fair values of $4.2 million, $5.7 million and $4.3 million, respectively, based on Teekay Offshore, Teekay LNG and Teekay Tankers’ closing unit or stock prices on the grant dates. Each phantom unit or restricted stock unit is equal in value to one of Teekay Offshore’s, Teekay LNG’s or Teekay Tankers’ common units or common shares plus reinvested distributions or dividends from the grant date to the vesting date. The awards vest equally over three years from the grant date. Any portion of an award that is not vested on the date of a recipient’s termination of service is cancelled, unless their termination arises as a result of the recipient’s retirement, in which case the award will continue to vest in accordance with the vesting schedule. Upon vesting, the awards are paid to a substantial majority of the grantees in the form of common units or common shares, net of withholding tax. During March 2015, Teekay Tankers granted 58,434 stock options with an exercise price of $5.39 per share that have a ten-year term and vest equally over three years from the grant date to an officer of Teekay Tankers. During June 2014, Teekay Tankers granted 110,829 stock options with an exercise price of $4.25 per share that have a ten-year term and vest equally over three years from the grant date to an officer of Teekay Tankers. During March 2014, Teekay Tankers granted 152,346 stock options with an exercise price of $4.10 per share that have a ten-year term and vest immediately to non-management directors of Teekay Tankers.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions As at December 31, 2015, Resolute Investments, Ltd. (or Resolute

Other Income (Loss)

Other Income (Loss)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Other Income (Loss)	14. Other Income (Loss) Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ TIL stock purchase warrants received (note 15) — 6,839 — Volatile organic compound emission plant lease (loss) income (417 ) 24 238 Impairment of marketable securities (683 ) (1,322 ) (2,062 ) Miscellaneous income 2,666 1,006 9,229 Loss on bond repurchases — (7,699 ) (1,759 ) Other income (loss) 1,566 (1,152 ) 5,646

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	15. Derivative Instruments and Hedging Activities The Company uses derivatives to manage certain risks in accordance with its overall risk management policies. Foreign Exchange Risk The Company economically hedges portions of its forecasted expenditures denominated in foreign currencies with foreign currency forward contracts. As at December 31, 2015, the Company was committed to the following foreign currency forward contracts: Contract Amount Average Forward (1) Fair Value / Carrying Amount Expected Maturity of Asset (Liability) 2016 $ 2017 $ Euro 11,103 0.91 (45 ) 12,153 — Norwegian Kroner 1,105,000 7.72 (18,005 ) 100,812 42,274 Singapore Dollar 22,442 1.36 (776 ) 16,537 — (18,826 ) 129,502 42,274 (1) Average contractual exchange rate represents the contracted amount of foreign currency one U.S. Dollar will buy. The Company enters into cross currency swaps, and pursuant to these swaps the Company receives the principal amount in NOK on the maturity date of the swap, in exchange for payment of a fixed U.S. Dollar amount. In addition, the cross currency swaps exchange a receipt of floating interest in NOK based on NIBOR plus a margin for a payment of U.S. Dollar fixed interest. The purpose of the cross currency swaps is to economically hedge the foreign currency exposure on the payment of interest and principal at maturity of the Company’s NOK-denominated bonds due in 2016 through 2020. In addition, the cross currency swaps economically hedge the interest rate exposure on the NOK bonds due in 2016 through 2020. The Company has not designated, for accounting purposes, these cross currency swaps as cash flow hedges of its NOK-denominated bonds due in 2016 through 2020. As at December 31, 2015, the Company was committed to the following cross currency swaps: Notional Amount NOK Notional Amount USD Floating Rate Receivable Fixed Rate Payable Fair Value / Carrying Amount of Remaining Term (years) Reference Rate Margin Asset / (Liability) 500,000 89,710 NIBOR 4.00 % 4.94 % (33,714 ) 0.1 600,000 101,351 NIBOR 5.75 % 7.49 % (36,505 ) 1.1 700,000 125,000 NIBOR 5.25 % 6.88 % (49,703 ) 1.3 800,000 143,536 NIBOR 4.75 % 6.07 % (56,985 ) 2.1 900,000 150,000 NIBOR 4.35 % 6.43 % (54,027 ) 2.7 1,000,000 162,200 NIBOR 4.25 % 6.42 % (56,124 ) 3.1 1,000,000 134,000 NIBOR 3.70 % 5.92 % (25,052 ) 4.4 (312,110 ) Interest Rate Risk The Company enters into interest rate swap agreements, which exchange a receipt of floating interest for a payment of fixed interest, to reduce the Company’s exposure to interest rate variability on its outstanding floating-rate debt. The Company designates certain of its interest rate swap agreements as cash flow hedges for accounting purposes. As at December 31, 2015, the Company was committed to the following interest rate swap agreements related to its LIBOR-based debt and EURIBOR-based debt, whereby certain of the Company’s floating-rate debt were swapped with fixed-rate obligations: Interest Index Principal $ Fair Value / Weighted- Fixed (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 3,092,442 (312,131 ) 5.4 3.4 U.S. Dollar-denominated interest rate swaps (3) LIBOR 412,392 (16,227 ) 3.0 2.8 U.S. Dollar-denominated interest rate swaption (4) LIBOR 155,000 (2,626 ) 1.3 2.2 U.S. Dollar-denominated interest rate swaption (4) LIBOR 155,000 685 1.3 3.3 U.S. Dollar-denominated interest rate swaption (5) LIBOR 160,000 (2,041 ) 2.1 2.0 U.S. Dollar-denominated interest rate swaption (5) LIBOR 160,000 1,956 2.1 3.1 U.S. Dollar-denominated interest rate swaption (6) LIBOR 160,000 (1,739 ) 2.5 1.8 U.S. Dollar-denominated interest rate swaption (6) LIBOR 160,000 2,981 2.5 2.9 EURIBOR-Based Debt: Euro-denominated interest rate swaps (7) (8) EURIBOR 241,798 (35,674 ) 5.0 3.1 (364,816 ) (1) Excludes the margins the Company pays on its variable-rate debt, which, as of December 31, 2015, ranged from 0.3% to 3.95%. (2) Principal amount of $200 million is fixed at 2.14%, unless LIBOR exceeds 6%, in which case the Company pays a floating rate of interest. (3) Interest rate swaps with an aggregate principal amount of $320 million are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2021. These interest rate swaps are subject to mandatory early termination in 2016 whereby the swaps will be settled based on their fair value at that time. (4) During June 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in April 2017 to enter into an interest rate swap at a fixed rate of 3.34% with a third party, and the third party has a one-time option in April 2017 to require Teekay LNG to enter into an interest swap at a fixed rate of 2.15%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in April 2017 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (5) During August 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in January 2018 to enter into an interest rate swap at a fixed rate of 3.10% with a third party, and the third party has a one-time option in January 2018 to require Teekay LNG to enter into an interest swap at a fixed rate of 1.97%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in January 2018 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (6) During October 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in July 2018 to enter into an interest rate swap at a fixed rate of 2.935% with a third party, and the third party has a one-time option in July 2018 to require Teekay LNG to enter into an interest swap at a fixed rate of 1.83%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in July 2018 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (7) Principal amount reduces monthly to 70.1 million Euros ($76.1 million) by the maturity dates of the swap agreements. (8) Principal amount is the U.S. Dollar equivalent of 222.7 million Euros. Stock Purchase Warrants In January 2014, Teekay and Teekay Tankers formed TIL. Teekay and Teekay Tankers purchased an aggregate of 5.0 million shares of TIL’s common stock, representing an initial 20% interest in TIL, as part of a $250 million private placement by TIL, which represents a total investment by Teekay and Teekay Tankers of $50.0 million. In addition, Teekay and Teekay Tankers received stock purchase warrants entitling them to purchase an aggregate of up to 1.5 million shares of common stock of TIL at a fixed price of $10 per share. Alternatively, if the shares of TIL’s common stock trade on a National Stock Exchange or over-the-counter market denominated in NOK, Teekay and Teekay Tankers may also exercise their stock purchase warrants at 61.67 NOK per share using a cashless exercise procedure. The estimated fair value of the warrants on issuance was $6.8 million and is included in other income in the consolidated statements of income. The stock purchase warrants vest in four equally sized tranches and as at December 31, 2015, two tranches have vested. If the shares of TIL’s common stock trade on a National Stock Exchange or over-the-counter market denominated in NOK, each tranche will vest and become exercisable when and if the fair market value of a share of TIL’s common stock equals or exceeds 77.08 NOK, 92.50 NOK, 107.91 NOK and 123.33 NOK, respectively, for such tranche for any ten consecutive trading days. The stock purchase warrants expire on January 23, 2019. The fair value of the stock purchase warrants at December 31, 2015 was $10.3 million. The Company reports the unrealized gains from the stock purchase warrants in realized and unrealized (losses) gains on non-designated derivatives in the consolidated statements of income. Tabular Disclosure 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 Derivative Accrued Current Derivative As at December 31, 2015 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — — (338 ) (777 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 80 — — (16,372 ) (2,534 ) Interest rate swap agreements — 7,516 (18,348 ) (198,196 ) (154,673 ) Cross currency swap agreements — — (3,377 ) (52,633 ) (256,100 ) Stock purchase warrants — 10,328 — — — 80 17,844 (21,725 ) (267,539 ) (414,084 ) As at December 31, 2014 Derivatives not designated as a cash flow hedge: Foreign currency contracts — — — (14,218 ) (4,189 ) Interest rate swap agreements — 5,101 (22,656 ) (148,006 ) (240,171 ) Cross currency swap agreements — — (1,835 ) (41,733 ) (177,822 ) Stock purchase warrants — 9,314 — — — — 14,415 (24,491 ) (203,957 ) (422,182 ) For the periods indicated, the following table presents the effective portion of gains (losses) on interest rate swap agreements designated and qualifying as cash flow hedges that were (1) recognized in other comprehensive (loss) income, (2) recorded in accumulated other comprehensive income (or AOCI) Year Ended December 31, 2015 Balance Sheet (AOCI) Statement of Income (Loss) Effective Portion Effective Ineffective (65 ) — (1,050 ) Interest expense (65 ) — (1,050 ) As at December 31, 2015, the Company had multiple interest rate swaps, cross currency swaps and foreign currency forward contracts with the same counterparty that are subject to the same master agreements. Each of these master agreements provides for the net settlement of all derivatives subject to that master agreement through a single payment in the event of default or termination of any one derivative. The fair value of these derivatives is presented on a gross basis in the Company’s consolidated balance sheets. As at December 31, 2015, these derivatives had an aggregate fair value asset amount of nil and an aggregate fair value liability amount of $588.1 million. As at December 31, 2015, the Company had $105.3 million on deposit with the relevant counterparties as security for swap liabilities under certain master agreements. The deposit is presented in restricted cash on the consolidated balance sheets. Realized and unrealized gains and (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 losses on non-designated derivatives in the consolidated statements of income. The effect of the gains and losses on derivatives not designated as hedging instruments in the consolidated statements of income are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Realized losses relating to: Interest rate swap agreements (108,036 ) (125,424 ) (122,439 ) Interest rate swap agreement terminations (10,876 ) (1,319 ) (35,985 ) Foreign currency forward contracts (21,607 ) (4,436 ) (2,027 ) (140,519 ) (131,179 ) (160,451 ) Unrealized gains (losses) relating to: Interest rate swap agreements 37,723 (86,045 ) 182,800 Foreign currency forward contracts (418 ) (16,926 ) (3,935 ) Stock purchase warrants 1,014 2,475 — 38,319 (100,496 ) 178,865 Total realized and unrealized (losses) gains on derivative instruments (102,200 ) (231,675 ) 18,414 Realized and unrealized (losses) gains of the cross currency swaps are recognized in earnings and reported in foreign currency exchange (loss) gain in the consolidated statements of income. The effect of the loss on cross currency swaps on the consolidated statements of income is as follows: Year Ended December 31, 2015 2014 2013 $ $ $ Realized (loss) gain on maturity and partial termination of cross currency swaps (36,155 ) — 6,800 Realized (losses) gains (18,973 ) (3,955 ) 2,089 Unrealized losses (89,178 ) (167,334 ) (65,387 ) Total realized and unrealized (losses) gains on cross currency swaps (144,306 ) (171,289 ) (56,498 ) The Company is exposed to credit loss to the extent the fair value represents an asset in the event of non-performance by the counterparties to the foreign currency forward contracts, and cross currency and interest rate swap agreements; however, the Company does not anticipate non-performance by any of the counterparties. In order to minimize counterparty risk, the Company only enters into derivative transactions with counterparties that are rated A- or better by Standard & Poor’s or A3 or better by Moody’s at the time of the transaction. In addition, to the extent possible and practical, interest rate swaps are entered into with different counterparties to reduce concentration risk.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies a) Vessels under Construction As at December 31, 2015, the Company was committed to the construction of 11 LNG carriers, four long-distance towing and offshore installation vessels, two UMS, three shuttle tankers, one FSO conversion and one FPSO upgrade for a total cost of approximately $3.6 billion, excluding capitalized interest and other miscellaneous construction costs. Vessels in which the Company holds an interest through non-consolidated joint ventures are excluded from the above amounts and are described on Note 16b. Two LNG carriers are scheduled for delivery in 2016, three LNG carriers are scheduled for delivery in 2017, four LNG carriers are scheduled for delivery in 2018 and two LNG carriers are scheduled for delivery in 2019, four long-distance towing and offshore installation vessels are scheduled for delivery in 2016, two UMS are scheduled for delivery in the third quarter of 2016 and the second quarter of 2019, three shuttle tankers are expected to be delivered in the fourth quarter of 2017 through the first half of 2018, the one FSO conversion is scheduled for completion in early-2017 and the one FPSO upgrade is scheduled for completion in the fourth quarter of 2016. As at December 31, 2015, payments made towards these commitments totaled $800.6 million (excluding $29.4 million of capitalized interest and other miscellaneous construction costs). As at December 31, 2015, the remaining payments required to be made under these newbuilding and conversion capital commitments were $864.6 million (2016), $887.0 million (2017), $616.3 million (2018), $426.1 million (2019) and $3.5 million (2020). b) Joint Ventures As described in Note 3a, the Teekay LNG has a 30% ownership interest in the Bahrain LNG Joint Venture for the development of an LNG receiving and regasification terminal in Bahrain. The project will include a FSU, which will be modified from one of Teekay LNG’s existing MEGI LNG newbuilding carriers, an offshore gas receiving facility, and an onshore nitrogen production facility. The terminal will have a capacity of 800 million standard cubic feet per day and will be owned and operated under a 20-year agreement commencing July 2018. The receiving and regasification terminal is expected to have a fully-built up cost of approximately $872 million. As at December 31, 2015, Teekay LNG’s proportionate share of the costs to be incurred are $115.2 million (2016), $84.0 million (2017) and $62.4 million (2018). As described in Note 3f, Teekay LNG has an ownership interest in the BG Joint Venture and, as part of the acquisition, agreed to assume BG’s obligation to provide shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates pursuant to a ship construction support agreement. As at December 31, 2015, Teekay LNG had incurred $4.2 million, net of reimbursement from BG, relating to shipbuilding and crew training services. The remaining estimated amounts to be incurred for the shipbuilding and crew training obligation, net of the reimbursement from BG, are $6.0 million (2016), $3.8 million (2017), $4.1 million (2018) and $0.4 million (2019). In addition, the BG Joint Venture secured a $787.0 million debt facility to finance a portion of the estimated fully built-up cost of $1.0 billion for its four newbuilding carriers, with the remaining portion to be financed pro-rata based on ownership interests by Teekay LNG and the other partners. As at December 31, 2015, Teekay LNG’s proportionate share of the remaining newbuilding installments, net of debt financing, totaled $7.9 million (2016), $15.0 million (2017), $17.3 million (2018) and $6.3 million (2019). As described in Note 23 – Equity Method Investments, Teekay LNG, has a 50% ownership interest in the Exmar LPG Joint Venture which has seven LPG newbuilding vessels scheduled for delivery between 2016 and 2018 and has obtained financing for three of these newbuilding vessels. As at December 31, 2015, Teekay LNG’s proportionate share of the remaining costs for these seven newbuilding carriers, net of the financing, totaled $4.9 million (2016), $62.7 million (2017) and $19.3 million (2018). As described in Note 3e, Teekay LNG has a 50% ownership interest in the Yamal LNG Joint Venture which will build six 172,000-cubic meter ARC7 LNG carrier newbuildings for an estimated total fully built-up cost of approximately $2.1 billion. As at December 31, 2015, Teekay LNG’s proportionate costs incurred under these newbuilding contracts totaled $100.5 million and Teekay LNG’s proportionate share of the estimated remaining costs to be incurred were $74.4 million (2016), $97.6 million in (2017), $356.6 million in (2018), $214.4 million in (2019) and $198.3 million (2020). The Yamal LNG Joint Venture intends to secure debt financing for 70% to 80% of the fully built-up cost of the six LNG carrier newbuildings. In October 2014, Teekay Offshore sold a 1995-built shuttle tanker, the Navion Norvegia, OOG Petrobras In December 2015, Teekay Offshore entered into a put and call option agreement with its 50/50 joint venture partner, OOG, relating to the FPSO conversion for the Libra field. The agreement provides OOG, with a put option to sell 15%, 20% or 25% of its shares in the joint venture to Teekay Offshore for consideration of $24.1 million, $32.1 million or $40.2 million, respectively. The exercise date for the put option was April 25, 2016 with a settlement date on May 25, 2016. Upon exercise of the put option, the agreement further provides OOG with a call option to repurchase the shares sold pursuant to the put option, for the same consideration from the put option plus 20% per annum from the put option date until the call option date as well as an additional $7.5 million. The exercise date for the call option is August 31, 2017 with settlement on January 5, 2018. Teekay Offshore expected to finance the put option, if exercised, with its existing liquidity. OOG did not exercise the put option on April 25,2016 and the put and call option agreement was discontinued. Teekay, through a 50/50 joint venture (or the KT Maritime Joint Venture c) Legal Proceedings and Claims The Company may, from time to time, be involved in legal proceedings and claims that arise in the ordinary course of business. The Company believes that any adverse outcome of existing claims, other than with respect to the items noted below, individually or in the aggregate, would not have a material effect on its financial position, results of operations or cash flows, when taking into account its insurance coverage and indemnifications from charterers. Claims by Minority Shareholders of Sevan The Company has a 43% ownership interest in Sevan. In February 2016, a special committee of the Board of Directors of Sevan (or Special Committee CeFront Logitel Offshore 2013 Transaction 2014 Transaction Piranema Spirit FPSO contract In March 2016, Petrobras claimed that Teekay Offshore’s November 2011 cessation of paying certain agency fees with respect to the Piranema Spirit STX Offshore & Shipbuilding Co. In April 2013, four special purpose subsidiary companies of Teekay Tankers entered into agreements with STX Offshore & Shipbuilding Co., Ltd (or STX LR2 In February 2016, Teekay Tankers’ subsidiaries had successfully obtained an English Court Order requiring STX to pay a total of $32.4 million in respect of the four firm shipbuilding contracts. As a result, Teekay Tankers’ subsidiaries have exercised their rights under English law to seek the assistance of the English court in the enforcement of the arbitration awards. Teekay Tankers and its subsidiaries are pursuing other routes to enforce the awards against STX. Additionally, the $0.6 million cash deposit was refunded subsequent to December 31, 2015. No amounts have been recorded as receivable in respect of these awards due to uncertainty of their collection. The trial in the English High Court in respect of the Option Agreement will commence in April 2016. Class Action Complaint Following the Company’s announcement in December 2015 that its Board of Directors had approved a plan to reduce the Company’s quarterly dividend to $0.055 per share, down from $0.55 per share in the third quarter of 2015, commencing with the fourth quarter of 2015 dividend payable in February 2016 and the subsequent decline of the price of the Company’s common stock, a class action complaint was filed on March 1, 2016 in the U.S. District Court for the District of Connecticut against the Company and certain of its officers. The complaint includes claims that the Company and certain of its officers violated Section 10(b) of the Securities Exchange Act 1934 and Rule 10b-5 promulgated thereunder. In general, the complaint alleges the Company and certain of its officers violated federal securities laws by making materially false and misleading statements regarding the Company’s ability and intention to maintain a quarterly dividend of at least $0.55 per share, thereby artificially inflating the price of its common stock. The plaintiffs are seeking unspecified monetary damages, including reasonable costs and expenses incurred in this action. The Company plans to vigorously defend against the claim. Based on the early stage of the claim and evaluation of the facts available at this time, the amount or range of reasonably possible losses to which the Company is exposed cannot be estimated and the ultimate resolution of this matter and the associated financial impact to the Company, if any, remains uncertain at this time. The Company maintains a Directors and Officers Insurance policy that provides coverage for such claims, subject to a maximum amount and a deductible. Teekay Nakilat Capital Lease Teekay LNG owned a 70% interest in Teekay Nakilat Corporation (or Teekay Nakilat Joint Venture the RasGas II LNG Carriers The UK taxing authority (or HMRC LEL1 Petrojarl Banff Storm Damage On December 7, 2011, the Petrojarl Banff FPSO unit (or Banff Banff Banff Banff d) Redeemable Non-Controlling Interest During 2010, an unrelated party contributed a shuttle tanker with a value of $35.0 million to a subsidiary of Teekay Offshore for a 33% equity interest in the subsidiary. The non-controlling interest owner of Teekay Offshore’s 67%-owned subsidiary holds a put option which, if exercised, would obligate Teekay Offshore to purchase the non-controlling interest owner’s 33% share in the entity for cash in accordance with a defined formula. The redeemable non-controlling interest is subject to remeasurement if the formulaic redemption amount exceeds the carrying value. No remeasurement was required as at December 31, 2015. In July 2015, Teekay Offshore issued 10.4 million 8.60% Series C Cumulative Convertible Perpetual Preferred Units (or Series C Preferred Units e) Other The Company enters into indemnification agreements with certain officers and directors. In addition, the Company enters into other indemnification agreements in the ordinary course of business. The maximum potential amount of future payments required under these indemnification agreements is unlimited. However, the Company maintains what it believes is appropriate liability insurance that reduces its exposure and enables the Company to recover future amounts paid up to the maximum amount of the insurance coverage, less any deductible amounts pursuant to the terms of the respective policies, the amounts of which are not considered material.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	17. Supplemental Cash Flow Information a) The changes in operating assets and liabilities for the years ended December 31, 2015, 2014, and 2013, are as follows: Year Ended December 31, 2015 2014 2013 Accounts receivable (6,488 ) 136,660 (77,837 ) Prepaid expenses and other assets (10,607 ) (1,618 ) (2,386 ) Accounts payable (24,727 ) (17,643 ) (10,877 ) Accrued and other liabilities 29,531 (56,768 ) 155,284 (12,291 ) 60,631 64,184 b) Cash interest paid, including realized interest rate swap settlements, during the years ended December 31, 2015, 2014, and 2013, totaled $318.1 million, $328.2 million and $282.4 million, respectively. In addition, during the years ended December 31, 2015, 2014, and 2013, cash interest paid relating to interest rate swap amendments and terminations totaled $10.9 million, $1.3 million and $36.0 million, respectively. c) As described in Note 3b, in August 2015, Teekay Tankers agreed to acquire 12 modern Suezmax tankers from Principal Maritime. As of December 31, 2015, all 12 of the vessels had been delivered for a total purchase price of $661.3 million, consisting of $612.0 million in cash and approximately 7.2 million shares of Teekay Tankers’ Class A common stock or $49.3 million, which was treated as a non-cash transaction in the consolidated statement of cash flows. d) During 2014, the Company took ownership of three VLCCs, which were collateral for all amounts owing under the investment in term loans, and the investment in term loans was concurrently discharged. The VLCCs had an estimated aggregate fair value of $222.0 million on this date, which approximated all the amounts owing under the investment in term loans. During the first quarter of 2014, second-hand vessel values for VLCCs increased and, as a result, the Company recognized $15.2 million of interest income owing under the investment in term loans in the first quarter of 2014. The assumption of ownership of the VLCCs and concurrent discharge of the loans has been treated as a non-cash transaction in the Company’s consolidated statement of cash flows. e) As described in Note 3f, during 2014, Teekay LNG acquired BG’s ownership interest in the BG Joint Venture. As compensation, Teekay LNG assumed BG’s obligation (net of an agreement by BG to pay Teekay LNG approximately $20.3 million) to provide shipbuilding supervision and crew training services for the four LNG carrier newbuildings up to their delivery dates pursuant to a ship construction support agreement. The estimated fair value of the assumed obligation of approximately $33.3 million was used to offset the purchase price and Teekay LNG’s receivable from BG and was treated as a non-cash transaction in the Company’s consolidated statement of cash flows. f) During 2014, Teekay LNG acquired an LPG carrier, the Norgas Napa g) During 2014 and 2013, the sales of the Tenerife Spirit, Huelva Spirit, Algeciras Spirit Algeciras Spirit Huelva Spirit Tenerife Spirit h) During 2014, the portion of dividends declared by the Teekay Tangguh Joint Venture that was used to settle the advances made to BLT LNG Tangguh Corporation and P.T. Berlian Laju Tanker of $14.4 million was treated as a non-cash transaction in the consolidated statements of cash flows. i) During 2013, Teekay LNG acquired two LNG carriers from Awilco for a purchase price of $205.0 million per vessel. The upfront prepayment of charter hire of $51.0 million (inclusive of a $1.0 million upfront fee) per vessel was used to offset the purchase price and was treated as a non-cash transaction in the consolidated statements of cash flows.

Vessel Sales, Asset Impairments

Vessel Sales, Asset Impairments and Provisions	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Vessel Sales, Asset Impairments and Provisions	18. Vessel Sales, Asset Impairments and Provisions a) Sale of Vessels, Equipment and Other Assets During 2015, Teekay Offshore sold a 1997-built shuttle tanker, the Navion Svenita During 2015, Teekay Tankers sold one Conventional tanker for a sales price of $11.2 million. The Company’s consolidated statement of income for the year ended December 31 2015 includes a gain on sale of the vessel of $0.8 million related to the sale of this vessel. The gain on sale of vessel is included in the Company’s Teekay Tankers Segment - Conventional Tanker. During 2015, the Company disposed of equipment from the Hummingbird Spirit During 2014, Teekay Offshore sold a 1995-built shuttle tanker, the Navion Norvegia During 2014, the Company sold an office building. The Company’s consolidated statement of income for the year ended December 31, 2014, includes a $0.9 million gain on sale related to this office, which is included in the Company’s Teekay Parent Segment - Offshore Production. During 2014, Teekay Tankers sold two wholly-owned subsidiaries, each of which owned one VLCC, to TIL for aggregate proceeds of $154.0 million plus related working capital on closing of $1.7 million. The Company received the purchase price in cash. The Company used a portion of the proceeds from this transaction to prepay $152 million on one of the Company’s revolving credit facilities and the remainder of the proceeds was used for general corporate purposes. During the year ended December 31, 2014, the Company realized a net gain of $10.0 million from the sale of the two subsidiaries to TIL (See Note 18b). During 2014, the Company sold to TIL four 2009-built Suezmax tankers that were part of the Company’s conventional tanker segment. These vessels were classified as held for sale on the consolidated balance sheet as at December 31, 2013, with their net book values written down to their estimated sale proceeds. During the year ended December 31, 2014, the Company realized a net loss of $0.5 million from the sale of these vessels. During 2013, Teekay Offshore sold a 1992-built shuttle tanker, a 1992-built conventional tanker, two 1995-built conventional tankers and a 1998-built conventional tanker that were part of the Company’s Teekay Offshore - Offshore Logistics and Conventional Tanker segments. The Company realized a net gain of $0.7 million from the sale of these vessels. All of the vessels were older vessels that the Company disposed of in the ordinary course of business. During 2013, the Company also sold sub-sea equipment from the Petrojarl I b) Asset Impairments and Provisions During 2015, the carrying values of two of Teekay Offshore’s 2000s-built conventional tankers and seven of Teekay Offshore’s 1990s-built shuttle tankers were written down to their estimated fair value, using appraised values. The write-down of the two conventional tankers was the result of the expected sale of the vessels and the vessels were classified as held for sale on the Company’s consolidated balance sheet as at December 31, 2015. The Company’s consolidated statement of income for the year ended December 31, 2015, includes a $3.9 million write-down related to these two conventional tankers. The write-down is included in the Company’s Teekay Offshore Segment - Conventional Tankers. Of the seven shuttle tankers, during the first quarter of 2015, one shuttle tanker was written down as a result of the expected sale of the vessel and the vessel was classified as held for sale on the Company’s consolidated balance sheet as at December 31, 2015. The vessel was subsequently sold in January 2016 for gross proceeds of $5.1 million (see Note 24). An additional shuttle tanker was written down during the first quarter of 2015 as a result of a change in the operating plan of the vessel. In the fourth quarter of 2015, the write-down of five shuttle tankers, which had an average age of 17.5 years, was the result of changes in Teekay Offshore’s expectations of their future opportunities, primarily due to their advanced age. While Teekay Offshore expects four of the five vessels to continue to actively trade as shuttle tankers over the near-term and the fifth vessel to actively trade in the conventional tanker market, Teekay Offshore anticipates fewer opportunities for alternative usage and increased age discrimination over time for these shuttle tankers. The Company’s consolidated statement of income for the year ended December 31, 2015, includes total write-downs of $66.7 million related to these seven shuttle tankers. The write-downs are included in the Company’s Teekay Offshore Segment - Offshore Logistics. During 2014, the carrying value of one of Teekay Offshore’s 1990s-built shuttle tanker was written down to its estimated fair value, using an appraised value. The write-down was the result of the tanker coming off charter and the expectation that it would be re-chartered at a lower rate. The Company’s consolidated statement of income for the year ended December 31, 2014, includes a $4.8 million write-down related to this vessel, which is included in the Company’s Teekay Offshore Segment - Offshore Logistics. During 2014, the Company reversed a $2.5 million loss provision for an amount receivable related to an FPSO front-end engineering and design study completed in 2013, as this receivable was recovered in 2014. During 2013, the Company recorded a $2.6 million of loss provision relating to this receivable. During December 2013, the Company commenced a process to dispose of four vessel owning companies (or LLCs During 2013, the Company wrote down the four Suezmax tankers to their estimated fair value of $163.2 million, which consists of their sale price, resulting in the recognition of an asset impairment of $90.8 million in the Company’s consolidated statement of income for the year ended December 31, 2013. The vessels were part of the Company’s Teekay Parent Segment - Conventional Tankers. In 2013, the carrying value of six of Teekay Offshore’s 1990s-built shuttle tankers were written down to their estimated fair values, using an appraised value. The Company’s consolidated statement of income (loss) for the year ended December 31, 2013, includes a $76.8 million write-down related to these six vessels, of which $56.5 million relates to four shuttle tankers which Teekay Offshore owns through subsidiaries with ownership interests ranging from 50% to 67%. During the third quarter of 2013, four of these six shuttle tankers were written down as the result of the re-contracting of one of the vessels at lower rates than expected during the third quarter of 2013, the cancellation of a short-term contract which occurred in September 2013 and a change in expectations for the contract renewal for two of the shuttle tankers. In the fourth quarter of 2013, the remaining two of the six shuttle tankers were written down due to a cancellation in their contract renewal. The $76.8 million write-down is included within the Company’s Teekay Offshore Segment – Offshore Logistics. During 2013, the Company increased the net carrying amount of the investments in term loans, which includes accrued interest income, by $1.9 million as the estimated future cash flows, which primarily reflected the estimated value of the underlying collateral, increased during 2013. The investments in term loans are part of the Company’s Teekay Parent Segment - Conventional Tankers. The net carrying amount of the loans consists of the present value of estimated future cash flows at December 31, 2013 (see Note 4). However, as at December 31, 2013, $11.2 million of interest receivable under the term loans, including default interest, was not recorded in respect of its investments in the three term loans based on the Company’s estimates of amounts receivable from its collateral. During March 2014, the Company assumed ownership of the three VLCCs that collateralized the investment in term loans (see Note 18a). At the time of assumption of ownership, these vessels had an aggregate fair value of approximately $222 million, which exceeded the carrying value of the loans. As a result, in the first quarter of 2014, the Company recognized $15.2 million of interest income, of which $11.2 million related to prior periods and was previously unrecognized owing under the loans. See Note 2 – Segment Reporting for the total write down of vessels by segment for 2015, 2014 and 2013.

Income (Loss) Per Share

Income (Loss) Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Income (Loss) Per Share	19. Income (Loss) Per Share Year Ended December 31, 2015 2014 2013 $ $ $ Net income (loss) attributable to shareholders of Teekay Corporation 82,151 (54,757 ) (114,738 ) Reduction in net earnings due to dilutive impact of stock-based compensation in Teekay LNG, Teekay Offshore and Teekay Tankers and Series C Preferred Units in Teekay Offshore (227 ) — — Net income (loss) attributable to shareholders of Teekay Corporation for diluted income (loss) per share 81,924 (54,757 ) (114,738 ) Weighted average number of common shares 72,665,783 72,066,008 70,457,958 Dilutive effect of stock-based compensation 524,781 — — Common stock and common stock equivalents 73,190,564 72,066,008 70,457,958 Income (loss) per common share: - Basic 1.13 (0.76 ) (1.63 ) - Diluted 1.12 (0.76 ) (1.63 ) Stock-based awards, which have an anti-dilutive effect on the calculation of diluted loss per common share, are excluded from this calculation. For the years ended December 31, 2015 and 2013, options and equity awards to acquire 1.4 million and 1.0 million shares of Common Stock, respectively, had an anti-dilutive effect on the calculation of diluted income per common share.

Restructuring Charges

Restructuring Charges	12 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring Charges	20. Restructuring Charges During 2015, the Company recorded restructuring charges of $14.0 million ($9.8 million – 2014, $6.9 million - 2013). The restructuring charges in 2015 relate to the termination of the employment of certain seafarers upon the expiration of a time-charter-out contract, the reorganization of the Company’s marine operations and corporate services, and the change in crew on a vessel as requested by a charterer. The actual restructuring charges relating to the termination of the employment of certain seafarers upon the expiration of a time-charter-out contract and the change in crew on a vessel as requested by a charterer in the amount of $8.4 million were fully reimbursed to the Company by the charterers and the net reimbursement is included in voyage revenues. The restructuring charges in 2014 relate to the termination of the employment of certain seafarers upon the re-delivery of an in-chartered conventional tanker in December 2014 and upon the sale of a vessel under capital lease to a third party in August 2014, and the reflagging of one shuttle tanker which commenced in January 2014 and was completed in March 2014, partially offset by an adjustment to the accrual for costs related to the reorganization of the Company’s marine operations. The restructuring charges in 2013 relates to the termination of the employment of certain seafarers from the sale of two vessels and the reflagging of one shuttle tanker and to the reorganization of the Company’s marine operations and certain of its commercial and administrative functions. The purpose of this restructuring was to create better alignment between certain of the Company’s business units and its three publicly-listed subsidiaries, as well as a lower cost organization. The Company does not expect to incur further restructuring charges associated with this reorganization. At December 31, 2015 and 2014 $3.2 million and $9.0 million, respectively, of restructuring liabilities were recorded in accrued liabilities on the consolidated balance sheets.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	21. Income Taxes Teekay and a majority of its subsidiaries are not subject to income tax in the jurisdictions in which they are incorporated because they do not conduct business or operate in those jurisdictions. However, among others, the Company’s U.K. and Norwegian subsidiaries are subject to income taxes. The significant components of the Company’s deferred tax assets and liabilities are as follows: December 31, December 31, 2015 2014 $ $ Deferred tax assets: Vessels and equipment 43,289 43,268 Tax losses carried forward (1) 310,019 360,547 Other 22,141 28,973 Total deferred tax assets 375,449 432,788 Deferred tax liabilities: Vessels and equipment 10,577 12,514 Long-term debt 3,218 2,295 Other 15,090 19,954 Total deferred tax liabilities 28,885 34,763 Net deferred tax assets 346,564 398,025 Valuation allowance (310,862 ) (385,431 ) Net deferred tax assets 35,702 12,594 Net deferred tax assets are presented in other non-current assets and other long term liabilities in the accompanying consolidated balance sheets. (1) Substantially all of the Company’s net operating loss carryforwards of $1.28 billion relate primarily to its Norwegian, U.K., and Spanish subsidiaries and, to a lesser extent, to its Australian ship-owning subsidiaries. These net operating loss carryforwards are available to offset future taxable income in the respective jurisdictions, and can be carried forward indefinitely. The Company also has $37.2 million in disallowed finance costs that relate to its Spanish subsidiaries and are available to offset future taxable income in Spain and can also be carried forward indefinitely. The components of the provision for income taxes are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Current (10,440 ) (6,460 ) 2,742 Deferred 27,207 (3,713 ) (5,614 ) Income tax recovery (expense) 16,767 (10,173 ) (2,872 ) The Company operates in countries that have differing tax laws and rates. Consequently, a consolidated weighted average tax rate will vary from year to year according to the source of earnings or losses by country and the change in applicable tax rates. Reconciliations of the tax charge related to the relevant year at the applicable statutory income tax rates and the actual tax charge related to the relevant year are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, $ $ $ Net income before taxes 388,693 134,175 38,352 Net income (loss) not subject to taxes 252,604 (80,454 ) (267,665 ) Net income subject to taxes 136,089 214,629 306,017 At applicable statutory tax rates 32,750 39,382 12,719 Permanent and currency differences, adjustments to valuation allowances and uncertain tax positions (49,789 ) (28,027 ) (8,173 ) Other 272 (1,182 ) (1,674 ) Tax (recovery) expense related to the current year (16,767 ) 10,173 2,872 The following is a roll-forward of the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from January 1, 2013 to December 31, 2015: Year ended Year ended Year ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Balance of unrecognized tax benefits as at January 1 20,335 20,304 29,364 Increases for positions related to the current year 4,578 3,643 1,141 Changes for positions taken in prior years (2,965 ) 1,015 (1,284 ) Decreases related to statute of limitations (3,558 ) (4,627 ) (8,917 ) Balance of unrecognized tax benefits as at December 31 18,390 20,335 20,304 The majority of the net decrease for positions for the year ended December 31, 2015 relates to a potential tax on freight income becoming statute barred. The Company does not presently anticipate such uncertain tax positions will significantly increase or decrease in the next 12 months; however, actual developments could differ from those currently expected. The tax years 2010 through 2015 remain open to examination by some of the major jurisdictions in which the Company is subject to tax. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The interest and penalties on unrecognized tax benefits are included in the roll-forward schedule above and are approximately a reduction of $0.3 million in 2015, net of statute barred liabilities, and $1.6 million in 2014 and $7.2 million in 2013.

Pension Benefits

Pension Benefits	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Pension Benefits	22. Pension Benefits a) Defined Contribution Pension Plans With the exception of certain of the Company’s employees in Australia and Norway, the Company’s employees are generally eligible to participate in defined contribution plans. These plans allow for the employees to contribute a certain percentage of their base salaries into the plans. The Company matches all or a portion of the employees’ contributions, depending on how much each employee contributes. During the years ended December 31, 2015, 2014, and 2013, the amount of cost recognized for the Company’s defined contribution pension plans was $15.2 million, $13.9 million and $14.8 million, respectively. b) Defined Benefit Pension Plans The Company has a number of defined benefit pension plans (or the Benefit Plans The following table provides information about changes in the benefit obligation and the fair value of the Benefit Plans assets, a statement of the funded status, and amounts recognized on the Company’s balance sheets: Year Ended Year Ended December 31, 2015 December 31, 2014 $ $ Change in benefit obligation: Beginning balance 121,604 150,996 Service cost 7,726 8,800 Interest cost 2,532 4,975 Contributions by plan participants 365 292 Actuarial (gain) loss (9,165 ) 15,982 Benefits paid (9,651 ) (5,476 ) Plan settlements and amendments (14,891 ) (21,235 ) Benefit obligations assumed on acquisition — 1,083 Foreign currency exchange rate changes (16,001 ) (33,680 ) Other (104 ) (133 ) Ending balance 82,415 121,604 Change in fair value of plan assets: Beginning balance 97,158 138,876 Actual return on plan assets 2,221 2,849 Contributions by the employer 7,858 12,283 Contributions by plan participants 365 292 Benefits paid (9,646 ) (5,456 ) Plan settlements and amendments (11,420 ) (22,405 ) Plan assets assumed on acquisition 203 998 Foreign currency exchange rate changes (13,096 ) (29,721 ) Other (568 ) (558 ) Ending balance 73,075 97,158 Funded status deficiency (9,340 ) (24,446 ) Amounts recognized in the balance sheets: Other long-term liabilities 9,340 24,446 Accumulated other comprehensive loss: Net actuarial losses (17,374 ) (32,060 ) (1) As at December 31, 2015, the estimated amount that will be amortized from accumulated other comprehensive (loss) income into net periodic benefit cost in 2016 is $(0.6) million. As of December 31, 2015 and 2014, the accumulated benefit obligations for the Benefit Plans were $67.1 million and $95.7 million, respectively. The following table provides information for those pension plans with a benefit obligation in excess of plan assets and those pension plans with an accumulated benefit obligation in excess of plan assets: December 31, 2015 December 31, 2014 $ $ Benefit obligation 61,124 90,042 Fair value of plan assets 50,517 64,631 Accumulated benefit obligation 1,821 60,828 Fair value of plan assets 925 55,095 The components of net periodic pension cost relating to the Benefit Plans for the years ended December 31, 2015, 2014 and 2013 consisted of the following: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Net periodic pension cost: Service cost 7,726 8,800 9,768 Interest cost 2,532 4,975 4,974 Expected return on plan assets (2,895 ) (5,333 ) (5,688 ) Amortization of net actuarial loss 1,538 7,148 1,484 Plan settlement (140 ) (3,332 ) 973 Other 568 557 425 Net cost 9,329 12,815 11,936 The components of other comprehensive income (loss) relating to the Plans for the years ended December 31, 2015, 2014 and 2013 consisted of the following: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Other comprehensive income (loss): Net gain (loss) arising during the period 13,288 (14,954 ) (3,930 ) Amortization of net actuarial loss 1,538 7,148 1,484 Plan settlement (140 ) (3,332 ) 973 Total income (loss) 14,686 (11,138 ) (1,473 ) The Company estimates that it will make contributions into the Benefit Plans of $4.9 million during 2016. The following table provides the estimated future benefit payments, which reflect expected future service, to be paid by the Benefit Plans: Pension Payments Year $ 2016 3,567 2017 3,111 2018 2,791 2019 2,834 2020 2,748 2021 – 2025 17,706 Total 32,757 The fair value of the plan assets, by category, as of December 31, 2015 and 2014 were as follows: December 31, December 31, Pooled Funds (1) 52,150 66,563 Mutual Funds (2) Equity investments 11,089 7,343 Debt securities 2,512 6,119 Real estate 2,929 1,530 Cash and money market 1,674 12,238 Other 2,720 3,365 Total 73,075 97,158 (1) The Company does not control the investment mix or strategy of the pooled funds. The pooled funds guarantee a minimum rate of return. If actual investment returns are less than the guarantee minimum rate, then the provider’s statutory reserves are used to top up the shortfall. The pooled funds primarily invest in hold to maturity bonds, real estate and other fixed income investments, which are expected to provide a stable rate of return. (2) The mutual funds primary aim is to provide investors with an exposure to a diversified mix of predominantly growth oriented assets (70%) with moderate to high volatility and some defensive assets (30%). The investment strategy for all plan assets is generally to actively manage a portfolio that is diversified among asset classes, markets and regions. Certain of the investment funds do not invest in companies that do not meet certain socially responsible investment criteria. In addition to diversification, other risk management strategies employed by the investment funds include gradual implementation of portfolio adjustments and hedging currency risks. The Company’s plan assets are primarily invested in commingled funds holding equity and debt securities, which are valued using the net asset value (or NAV) The Company has a pension committee that is comprised of various members of senior management. Among other things, the Company’s pension committee oversees the investment and management of the plan assets, with a view to ensuring the prudent and effective management of such plans. In addition, the pension committee reviews investment manager performance results annually and approves changes to the investment managers. The weighted average assumptions used to determine benefit obligations at December 31, 2015 and 2014 were as follows: December 31, 2015 December 31, 2014 Discount rates 3.0% 2.9% Rate of compensation increase 3.4% 4.2% The weighted average assumptions used to determine net pension expense for the years ended December 31, 2015, 2014 and 2013 were as follows: Year Ended $ Year Ended $ Year Ended $ Discount rates 3.0% 2.9% 3.9% Rate of compensation increase 3.4% 4.2% 4.7% Expected long-term rates of return (1) 4.0% 4.0% 4.8% (1) To the extent the expected return on plan assets varies from the actual return, an actuarial gain or loss results. The expected long-term rates of return on plan assets are based on the estimated weighted-average long-term returns of major asset classes. In determining asset class returns, the Company takes into account long-term returns of major asset classes, historical performance of plan assets, as well as the current interest rate environment. The asset class returns are weighted based on the target asset allocations.

Equity Accounted Investments

Equity Accounted Investments	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Accounted Investments	23. Equity-accounted Investments In December 2015, Teekay LNG entered into an agreement with National Oil & Gas Holding Authority (or Nogaholding Samsung Bahrain LNG Joint Venture In October 2014, Teekay Offshore sold a 1995-built shuttle tanker, the Navion Norvegia, Libra Joint Venture In July 2014, Teekay LNG, through a new 50/50 joint venture, the Yamal LNG Joint Venture, ordered six internationally-flagged icebreaker LNG carriers for the Yamal LNG Project. The Yamal LNG Project is a joint venture between Russia-based Novatek OAO (60%), France-based Total S.A. (20%) and China-based CNPC (20%), and will consist of three LNG trains with a total expected capacity of 16.5 million metric tons of LNG per annum and is currently scheduled to start-up in early-2018 (see Note 3e). In June 2014, Teekay LNG acquired from BG its ownership interests in four 174,000-cubic meter Tri-Fuel Diesel Electric LNG carrier newbuildings, which will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China for an estimated total fully built-up cost to the joint venture of approximately $1.0 billion. The vessels, upon delivery, which are scheduled between September 2017 and January 2019, will each operate under 20-year fixed-rate time-charter contracts, plus extension options, with Methane Services Limited, a wholly-owned subsidiary of BG (see Note 3f). In January 2014, Teekay and Teekay Tankers formed TIL, which seeks to opportunistically acquire, operate and sell modern second-hand tankers to benefit from an expected recovery in the current cyclical low of the tanker market. Teekay and Teekay Tankers in the aggregate purchased 5.0 million shares of common stock, representing an initial 20% interest in TIL, as part of a $250 million private placement by TIL, which represents a total investment by Teekay and Teekay Tankers of $50.0 million. In October 2014, Teekay Tankers acquired an additional 0.9 million common shares in TIL, representing 2.43% of the then outstanding share capital of TIL. In October 2014, TIL authorized a share repurchase program for up to $30 million and in September 2015, TIL authorized an increase in its share repurchase program to $60 million. As of December 31, 2015, TIL has repurchased $55.8 million at an average price of NOK 93.97 per share. The Company’s combined interests of Teekay and Teekay Tankers in TIL were 17.62% as at December 31, 2015. (see Note 3h). In June 2013, Teekay Offshore completed the acquisition from Teekay of its 50% interest in a FPSO unit, the Cidade de Itajai Itajai Itajai Itajai In February 2013, Teekay LNG entered into a joint venture agreement with Exmar to own and charter-in LPG carriers with a primary focus on the mid-size gas carrier segment. Exmar LPG BVBA (or the Exmar LPG Joint Venture) Teekay LNG has a 52% ownership interest in the joint venture between Marubeni Corporation and Teekay LNG (or the Teekay LNG-Marubeni Joint Venture Teekay LNG has a 33% ownership interest in four newbuilding 160,400-cubic meter LNG carriers (or the Angola LNG Carriers Wah Kwong HiLoad DP Exmar LNG Joint Venture In November 2011, Teekay acquired a 40% interest in a recapitalized Sevan for approximately $25 million. Sevan owns (i) two partially-completed hulls available for upgrade to FPSOs or other offshore projects; (ii) a licensing agreement with ENI SpA; (iii) an engineering and offshore project development business; and (iv) intellectual property rights, including offshore unit design patents. As of December 31, 2015, the aggregate value of the Company’s 43% interest (43% interest —December 31, 2014) in Sevan, based on the quoted market price of Sevan’s common stock on the Oslo Stock Exchange, was $44.9 million ($61.4 million – December 31, 2014). A condensed summary of the Company’s investments in equity-accounted investees by segment are as follows (in thousands of U.S. dollars, except percentages): As at December 31, Investments in Equity-accounted Investees (1) Ownership 2015 $ 2014 $ Teekay Offshore - Offshore Production Libra Joint Venture 50% 17,952 413 Itajai 50% 59,692 59,764 Teekay LNG - Liquefied Gas Angola LNG Carriers 33% 56,203 47,863 BG (note 3f) 20% - 30% 25,574 20,704 Exmar LNG Joint Venture 50% 77,844 99,541 Exmar LPG Joint Venture 50% 163,730 209,367 RasGas3 Joint Venture 40% 160,684 145,764 Teekay LNG - Marubeni Joint Venture 52% 283,589 274,431 Yamal LNG Joint Venture (note 3e) 50% 100,084 96,791 Teekay Tanker - Conventional Tankers TIL (note 3h) 10% 44,195 36,907 High-Q Joint Venture 50% 21,166 18,948 Teekay Parent - Offshore Production Sevan 43% 22,581 34,985 Itajai — 12,781 Teekay Parent - Conventional Tankers TIL (note 3h) 7% 34,224 29,043 Other 50% 16,072 32,791 1,083,590 1,120,093 (1) Investments in equity-accounted investees is presented under current portion of loans to equity-accounted investees, loans to equity-accounted investees, equity-accounted investments and accrued liabilities in the Company’s consolidated balance sheets. A condensed summary of the Company’s financial information for equity-accounted investments (16% to 52% owned) shown on a 100% basis are as follows: As at December 31, 2015 2014 (1) Cash and restricted cash 386,727 434,833 Other assets- current 162,414 249,882 Vessels and equipment 3,936,718 3,329,796 Net investment in direct financing leases 1,813,991 1,850,279 Other assets - non-current 80,987 132,849 Current portion of long-term debt and obligations under capital lease 345,336 521,148 Other liabilities - current and obligations under capital lease 162,076 217,180 Long-term debt and obligations under capital lease 3,459,187 2,906,560 Other liabilities - non-current 447,947 459,907 Year ended December 31, 2015 2014 (1) 2013 (2) Revenues 985,318 998,655 940,156 Income from vessel operations 433,023 454,135 328,430 Realized and unrealized (loss) gain on derivative instruments (38,955 ) (58,884 ) 16,334 Net income 275,259 300,837 288,550 Certain of the comparative figures have been adjusted to conform to the presentation adopted in the current year. (1) The results included for TIL are from the date of incorporation in January 2014. (2) The results included for the Exmar LPG BVBA are from the date of acquisition in February 2013. For the year ended December 31, 2015, the Company recorded equity income of $102.9 million (2014 – $128.1 million and 2013 - $136.5 million). The income was primarily comprised of the Company’s share of net income (loss) from the Teekay LNG-Marubeni Joint Venture, Angola LNG Project, the RasGas 3

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	24. Subsequent Events a) In January 2016, Teekay Tankers entered into a new $894.4 million long-term debt facility, consisting of both a term loan and a revolving credit facility, which is scheduled to mature in January 2021, of which $845.8 million was used to repay Teekay Tankers’ two bridge loan facilities, which matured in late January 2016, and Teekay Tankers’ main corporate revolving credit facility, which was scheduled to mature in 2017. b) In February 2016, a special committee of the Board of Directors of Sevan advised that they had initiated a review of the legality of agreements between Sevan, Cefront and Teekay Offshore. Please read “Note 16c – Commitments and Contingencies – Legal Proceedings and Claims – Claims by Minority Shareholders of Sevan”. c) In March 2016, Petrobras claimed that Teekay Offshore should have reduced the rate of the FPSO charter contract relating to the Piranema Spirit Piranema Spirit d) In March 2016, a class action complaint was filed in the U.S. District Court for the District of Connecticut against the Company and certain of its officers. Please read “Note 16c – Commitments and Contingencies – Legal Proceedings and Claims – Class Action Complaint”. e) On April 21, 2016, during the process to lift off the gangway connecting the Arendal Spirit Arendal Spirit Arendal Spirit Arendal Spirit

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (or GAAP Teekay Company Public Subsidiaries Teekay LNG Teekay Offshore Teekay Tankers The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates. Given the current challenging credit markets, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts. In the current period, the Company has presented debt issuance costs associated with a specific debt instrument as a direct deduction from the carrying amount of that debt liability in the Company’s consolidated balance sheets as part of the adoption of Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs ASU 2015-03
Non-Controlling Interests	Non-Controlling Interests Where Teekay’s ownership interest in a consolidated subsidiary is less than 100%, the non-controlling interests’ share of these non-wholly owned subsidiaries are reported in the Company’s consolidated balance sheets as a separate component of equity. The non-controlling interests’ share of the net income of these non-wholly owned subsidiaries is reported in the Company’s consolidated statements of income as a deduction from the Company’s net income to arrive at net income (loss) attributable to shareholders of Teekay. The basis for attributing net income of each non-wholly owned subsidiary to the controlling interest and the non-controlling interests, with the exception of Teekay LNG and Teekay Offshore, is based on the relative ownership interests of the non-controlling interests compared to the controlling interest, which is consistent with how dividends and distributions are paid or are payable for these non-wholly owned subsidiaries. Teekay LNG and Teekay Offshore each have limited partners and one general partner. Both general partners are owned by Teekay. For Teekay LNG, the limited partners hold common units. For Teekay Offshore, the limited partners hold common units and preferred units. For each quarterly period, the method of attributing Teekay LNG’s and Teekay Offshore’s net income (loss) of that period to the non-controlling interests of Teekay LNG and Teekay Offshore begins by attributing net income (loss) of Teekay Offshore to the non-controlling interests which hold 100% of the preferred units of Teekay Offshore in an amount equal to the amount of preferred unit distributions declared for the quarterly period. The remaining net income (loss) to be attributed to the controlling interest and the non-controlling interests of Teekay LNG and Teekay Offshore is divided into two components. The first component consists of the cash distribution that Teekay LNG or Teekay Offshore will declare and pay to limited and general partners for that quarterly period (the Distributed Earnings Undistributed Earnings 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 (loss) of partially- owned consolidated entities (1) Non- public partially- owned subsidiaries Preferred unit holders Distributed Earnings Undistributed Earnings Total Distributed Earnings Undistributed Earnings Total Teekay Offshore 13,911 28,609 119,971 (103,949 ) 58,542 70,414 (38,913 ) 31,501 90,043 Teekay LNG 16,627 — 120,482 (1,510 ) 135,599 82,791 (880 ) 81,911 217,510 Teekay Tankers — — — 129,725 129,725 — 47,202 47,202 176,927 Other entities and eliminations — — — — (557 ) For the Year Ended December 31, 2015 30,538 28,609 240,453 24,266 323,309 Teekay Offshore 10,503 10,875 136,743 (150,724 ) 7,397 71,166 (60,907 ) 10,259 17,656 Teekay LNG 13,489 — 143,292 (26,116 ) 130,665 101,946 (13,684 ) 88,262 218,927 Teekay Tankers — — — 41,048 41,048 — 16,094 16,094 57,142 Other entities and eliminations — — — — (351 ) For the Year Ended December 31, 2014 23,992 10,875 280,035 (135,792 ) 178,759 Teekay Offshore (19,089 ) 7,250 127,523 (86,148 ) 29,536 65,393 (20,789 ) 44,604 74,140 Teekay LNG 12,073 — 127,087 (13,101 ) 126,059 94,253 (6,997 ) 87,256 213,315 Teekay Tankers — — — (6,096 ) (6,096 ) — (2,042 ) (2,042 ) (8,138 ) Other entities and eliminations — — — — 719 For the Year Ended December 31, 2013 (7,016 ) 7,250 254,610 (105,345 ) 150,218 (1) Excludes the results of the acquisition of interests in vessels between Teekay Corporation, Teekay Offshore and Teekay Tankers during the periods the vessels were under common control and had begun operations. When Teekay’s non-wholly owned subsidiaries declare dividends or distributions to their owners, or require all of their owners to contribute capital to the non-wholly owned subsidiaries, such amounts are paid to, or received from, each of the owners of the non-wholly owned subsidiaries based on the relative ownership interests in the non-wholly owned subsidiary. As such, any dividends or distributions paid to, or capital contributions received from, the non-controlling interests are reflected as a reduction (dividends or distributions) or an increase (capital contributions) in non-controlling interest in the Company’s consolidated balance sheets. When Teekay’s non-wholly owned subsidiaries issue additional equity interests to non-controlling interests, Teekay is effectively selling a portion of the non-wholly owned subsidiaries. Consequently, the proceeds received by the subsidiaries from their issuance of additional equity interests are allocated between non-controlling interest and retained earnings in the Company’s consolidated balance sheets. The portion allocated to non-controlling interest on the Company’s consolidated balance sheets consists of the carrying value of the portion of the non-wholly owned subsidiary that is effectively disposed of, with the remaining amount attributable to the controlling interest, which consists of the Company’s dilution gain or loss that is allocated to retained earnings.
Reporting currency	Reporting currency The consolidated financial statements are stated in U.S. Dollars. The functional currency of the Company is the U.S. Dollar because the Company operates in the international shipping market, which typically utilizes the U.S. Dollar as the functional currency. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet date, monetary assets and liabilities that are denominated in currencies other than the U.S. Dollar are translated to reflect the year-end exchange rates. Resulting gains or losses are reflected separately in the accompanying consolidated statements of income.
Operating revenues	Operating revenues and expenses Contracts of Affreightment and Voyage Charters Revenues from contracts of affreightment and voyage charters are recognized on a proportionate performance method. The Company uses a discharge-to-discharge basis in determining proportionate performance for all voyage charters, whereby it recognizes revenue ratably from when product is discharged (unloaded) at the end of one voyage to when it is discharged after the next voyage. Shuttle tanker voyages servicing contracts of affreightment with offshore oil fields commence with tendering of notice of readiness at a field, within the agreed lifting range, and ends with tendering of notice of readiness at a field for the next lifting. The Company does not begin recognizing revenue until a charter has been agreed to by the customer and the Company, even if the vessel has discharged its cargo and is sailing to the anticipated load port on its next voyage. Time Charters, Bareboat Charters and FPSO Contracts Operating Leases FPSO Direct Financing Leases The Company employs four liquefied natural gas (or LNG FSO Pooling Arrangements Revenues and voyage expenses of the vessels operating in pool arrangements are pooled and the resulting net pool revenues, calculated on a time-charter equivalent basis, are allocated to the pool participants according to an agreed formula. The agreed formula used to allocate net pool revenues varies between pools; however, the formula generally allocates revenues to pool participants on the basis of the number of days a vessel operates in the pool with weighting adjustments made to reflect vessels’ differing capacities and performance capabilities. The same revenue and expense recognition principles stated above for voyage charters are applied in determining the net pool revenues of the pool. The pools are responsible for paying voyage expenses and distribute net pool revenues to the participants. The Company accounts for the net allocation from the pool as revenues and amounts due from the pool are included in accounts receivable. Other Revenue Revenues and expenses relating to engineering studies are recognized when the service is completed, unless the expenses are not recoverable in which case the expenses are recognized as incurred. Revenue from lightering operations are recognized when services have been completed. Revenues are accrued when operations are carried over into the following month. Revenues from management services are recognized on a proportionate performance method over the term of the management contract.
Operating expenses	Operating Expenses Voyage expenses are all expenses unique to a particular voyage, including bunker fuel expenses, port fees, cargo loading and unloading expenses, canal tolls, agency fees and commissions. Vessel operating expenses include crewing, ship management services, repairs and maintenance, insurance, stores, lube oils and communication expenses. Voyage expenses and vessel operating expenses are recognized when incurred.
Cash and cash equivalents	Cash and cash equivalents The Company classifies all highly liquid investments with a maturity date of three months or less at their inception as cash equivalents.
Restricted Cash	Restricted Cash The Company maintains restricted cash deposits relating to certain term loans, collateral for derivatives, project tenders, leasing arrangements, amounts received from charterers to be used only for dry-docking expenditures and emergency repairs and other obligations.
Accounts receivable and allowance for doubtful accounts	Accounts receivable and allowance for doubtful accounts Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. The Company determines the allowance based on historical write-off experience and customer economic data. The Company reviews the allowance for doubtful accounts regularly and past due balances are reviewed for collectability. Account balances are charged off against the allowance when the Company believes that the receivable will not be recovered. There was no significant amounts recorded as allowance for doubtful accounts as at December 31, 2015, 2014, and 2013.
Marketable securities	Marketable securities The Company’s investments in marketable securities are classified as available-for-sale securities and are carried at fair value. Net unrealized gains and losses on available-for-sale securities are reported as a component of accumulated other comprehensive loss. Realized gains and losses on available-for-sale securities are computed based upon the historical cost of these securities applied using the weighted-average historical cost method. The Company analyzes its available-for-sale securities for impairment during each reporting period to evaluate whether an event or change in circumstances has occurred in that period that may have a significantly adverse effect on the fair value of the investment. The Company records an impairment charge through current-period earnings and adjusts the cost basis for such other-than-temporary declines in fair value when the fair value is not anticipated to recover above cost within a three-month period after the measurement date, unless there are mitigating factors that indicate an impairment charge through earnings may not be required. If an impairment charge is recorded, subsequent recoveries in fair value are not reflected in earnings until sale of the security.
Vessels and equipment	Vessels and equipment All pre-delivery costs incurred during the construction of newbuildings, including interest, supervision and technical costs, are capitalized. The acquisition cost and all costs incurred to restore used vessels purchased by the Company to the standard required to properly service the Company’s customers are capitalized. Depreciation is calculated on a straight-line basis over a vessel’s estimated useful life, less an estimated residual value. Depreciation is calculated using an estimated useful life of 25 years for tankers carrying crude oil and refined product, 20 to 25 years for FPSO units, 35 years for LNG carriers and 30 years for liquefied petroleum gas (or LPG UMS Vessel capital modifications include the addition of new equipment or can encompass various modifications to the vessel that are aimed at improving or increasing the operational efficiency and functionality of the asset. This type of expenditure is amortized over the estimated useful life of the modification. Expenditures covering recurring routine repairs and maintenance are expensed as incurred. Interest costs capitalized to vessels and equipment for the years ended December 31, 2015, 2014, and 2013, aggregated $22.0 million, $51.3 million and $14.6 million, respectively. Generally, the Company dry docks each shuttle tanker, conventional oil tanker, long-distance towing and offshore installation vessel and gas carrier every two and a half to five years. UMS, FSO and FPSO units are generally not dry docked. The Company capitalizes a substantial portion of the costs incurred during dry docking and amortizes those costs on a straight-line basis over their estimated useful life, which typically is from the completion of a dry docking or intermediate survey to the estimated completion of the next dry docking. The Company includes in capitalized dry-docking costs those costs incurred as part of the dry docking to meet classification and regulatory requirements. The Company expenses costs related to routine repairs and maintenance performed during dry docking, and for annual class survey costs on the Company’s FPSO units. The continuity of capitalized dry-docking costs for the years ended December 31, 2015, 2014, and 2013, is summarized as follows: Year Ended December 31, 2015 2014 2013 $ $ $ Balance at the beginning of the year 135,331 118,194 100,928 Costs incurred for dry dockings 69,927 74,018 72,545 Dry-dock amortization (47,271 ) (50,926 ) (50,325 ) Write down / sales of vessels (7,285 ) (5,955 ) (4,954 ) Balance at the end of the year 150,702 135,331 118,194 Vessels and equipment that are “held and used” are assessed for impairment when events or circumstances indicate the carrying amount of the asset may not be recoverable. If the asset’s net carrying value exceeds the net undiscounted cash flows expected to be generated over its remaining useful life, the carrying amount of the asset is reduced to its estimated fair value. The estimated fair value for the Company’s impaired vessels is determined using discounted cash flows or appraised values. In cases where an active second hand sale and purchase market does not exist, the Company uses a discounted cash flow approach to estimate the fair value of an impaired vessel. In cases where an active second hand sale and purchase market exists an appraised value is used to estimate the fair value of an impaired vessel. An appraised value is generally the amount the Company would expect to receive if it were to sell the vessel. Such appraisal is normally completed by the Company and based on second-hand sale and purchase data. Vessels and equipment that are “held for sale” are measured at the lower of their carrying amount or fair value less costs to sell and are not depreciated while classified as held for sale. Interest and other expenses attributable to vessels and equipment classified as held for sale, or to their related liabilities, continue to be recognized as incurred. Gains on vessels sold and leased back under capital leases are deferred and amortized over the remaining term of the capital lease. Losses on vessels sold and leased back under capital leases are recognized immediately when the fair value of the vessel at the time of sale and lease-back is less than its book value. In such case, the Company would recognize a loss in the amount by which book value exceeds fair value.
Other loan receivables	Other loan receivables The Company’s investments in loan receivables are recorded at cost. The premium paid over the outstanding principal amount was amortized to interest income over the term of the loan using the effective interest rate method. The Company analyzes its loans for collectability during each reporting period. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors the Company considers in determining that a loan is impaired include, among other things, an assessment of the financial condition of the debtor, payment history of the debtor, general economic conditions, the credit rating of the debtor (when available) any information provided by the debtor regarding their ability to repay the loan and the fair value of the underlying collateral. When a loan is impaired, the Company measures the amount of the impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate and recognizes the resulting impairment in the consolidated statements of income. The carrying value of the loans will be adjusted each subsequent reporting period to reflect any changes in the present value of estimated future cash flows. The following table contains a summary of the Company’s financing receivables by type of borrower, the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis, and the grade as of December 31, 2015. December 31, Class of Financing Receivable Credit Quality Indicator Grade 2015 $ 2014 $ Direct financing leases Payment activity Performing 684,129 704,953 Other loan receivables Loans to equity-accounted investees and joint venture partners Other internal metrics Performing 191,517 253,426 Long-term receivable included in other assets Payment activity Performing 37,032 43,843 912,678 1,002,222
Joint ventures	Joint ventures The Company’s investments in joint ventures are accounted for using the equity method of accounting. Under the equity method of accounting, investments are stated at initial cost and are adjusted for subsequent additional investments and the Company’s proportionate share of earnings or losses and distributions. The Company evaluates its investments in joint ventures for impairment when events or circumstances indicate that the carrying value of such investments may have experienced an other than temporary decline in value below their carrying value. If the estimated fair value is less than the carrying value and is considered an other than temporary decline, the carrying value is written down to its estimated fair value and the resulting impairment is recorded in the consolidated statements of income.
Debt issuance costs	Debt issuance costs Debt issuance costs, including fees, commissions and legal expenses, are deferred and presented as a direct reduction from the carrying amount of the debt liability. Debt issuance costs related to loan facilities without a recognized debt liability will continue to be presented as non-current assets in the consolidated balance sheet. Debt issuance costs of revolving credit facilities are amortized on a straight-line basis over the term of the relevant facility. Debt issuance costs of term loans are amortized using the effective interest rate method over the term of the relevant loan. Amortization of debt issuance costs is included in interest expense.
Derivative instruments	Derivative instruments All derivative instruments are initially recorded at fair value as either assets or liabilities in the accompanying consolidated balance sheets and subsequently remeasured to fair value, regardless of the purpose or intent for holding the derivative. The method of recognizing the resulting gain or loss is dependent on whether the derivative contract is designed to hedge a specific risk and whether the contract qualifies for hedge accounting. The Company does not apply hedge accounting to its derivative instruments, except for certain foreign exchange currency contracts and certain types of interest rate swaps (See Note 15). When a derivative is designated as a cash flow hedge, the Company formally documents the relationship between the derivative and the hedged item. This documentation includes the strategy and risk management objective for undertaking the hedge and the method that will be used to assess the effectiveness of the hedge. Any hedge ineffectiveness is recognized immediately in earnings, as are any gains and losses on the derivative that are excluded from the assessment of hedge effectiveness. The Company does not apply hedge accounting if it is determined that the hedge was not effective or will no longer be effective, the derivative was sold or exercised, or the hedged item was sold, or repaid. For derivative financial instruments designated and qualifying as cash flow hedges, changes in the fair value of the effective portion of the derivative financial instruments are initially recorded as a component of accumulated other comprehensive loss in total equity. In the periods when the hedged items affect earnings, the associated fair value changes on the hedging derivatives are transferred from total equity to the corresponding earnings line item in the consolidated statements of income. The ineffective portion of the change in fair value of the derivative financial instruments is immediately recognized in earnings in the consolidated statements of income. If a cash flow hedge is terminated and the originally hedged item is still considered possible of occurring, the gains and losses initially recognized in total equity remain there until the hedged item impacts earnings, at which point they are transferred to the corresponding earnings line item (e.g. general and administrative expense) item in the consolidated statements of income. If the hedged items are no longer possible of occurring, amounts recognized in total equity are immediately transferred to the earnings item in the consolidated statements of income. For derivative financial instruments that are not designated or that do not qualify as hedges under Financial Accounting Standards Board (or FASB ASC Derivatives and Hedging
Goodwill and intangible assets	Goodwill and intangible assets Goodwill is not amortized, but reviewed for impairment at the reporting unit level on an annual basis or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. When goodwill is reviewed for impairment, the Company may elect to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Alternatively, the Company may bypass this step and use a fair value approach to identify potential goodwill impairment and, when necessary, measure the amount of impairment. The Company uses a discounted cash flow model to determine the fair value of reporting units, unless there is a readily determinable fair market value. Intangible assets are assessed for impairment when and if impairment indicators exist. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and its carrying amount exceeds its fair value. The Company’s intangible assets consist primarily of acquired time-charter contracts, contracts of affreightment, and customer relationships. The value ascribed to the acquired time-charter contracts and contracts of affreightment are being amortized over the life of the associated contract, with the amount amortized each year being weighted based on the projected revenue to be earned under the contracts. The value ascribed to customer relationships intangible assets are amortized over the expected life of a customer contract or the expected duration that the customer relationships are estimated to contribute to the cash flows of the Company. The amount amortized each year is weighted based on the projected revenue to be earned under the contracts or projected revenue to be earned as a result of the customer relationships.
Asset retirement obligation	Asset retirement obligation The Company has an asset retirement obligation (or ARO Petrojarl Banff The Company records the fair value of an ARO as a liability in the period when the obligation arises. The fair value of the ARO is measured using expected future cash outflows discounted at the Company’s credit-adjusted risk-free interest rate. When the liability is recorded, the Company capitalizes the cost by increasing the carrying amount of the related equipment. Each period, the liability is increased for the change in its present value, and the capitalized cost is depreciated over the useful life of the related asset. Changes in the amount or timing of the estimated ARO are recorded as an adjustment to the related asset and liability. As at December 31, 2015, the ARO and associated receivable, which is recorded in other non-current assets, were $25.5 million and $6.9 million, respectively (2014 - $25.0 million and $6.8 million, respectively).
Repurchase of common stock	Repurchase of common stock The Company accounts for repurchases of common stock by decreasing common stock by the par value of the stock repurchased. In addition, the excess of the repurchase price over the par value is allocated between additional paid in capital and retained earnings. The amount allocated to additional paid in capital is the pro-rata share of the capital paid in and the balance is allocated to retained earnings.
Share-based compensation	Share-based compensation The Company grants stock options, restricted stock units, performance share units and restricted stock awards as incentive-based compensation to certain employees and directors. The Company measures the cost of such awards using the grant date fair value of the award and recognizes that cost, net of estimated forfeitures, over the requisite service period, which generally equals the vesting period. For stock-based compensation awards subject to graded vesting, the Company calculates the value for the award as if it was one single award with one expected life and amortizes the calculated expense for the entire award on a straight-line basis over the vesting period of the award. Compensation cost for awards with performance conditions is recognized when it is probable that the performance condition will be achieved. The compensation cost of the Company’s stock-based compensation awards are substantially reflected in general and administrative expense.
Income taxes	Income taxes The Company accounts for income taxes using the liability method. Under the liability method, deferred tax assets and liabilities are recognized for the anticipated future tax effects of temporary differences between the financial statement basis and the tax basis of the Company’s assets and liabilities using the applicable jurisdictional tax rates. A valuation allowance for deferred tax assets is recorded when it is more likely than not that some or all of the benefit from the deferred tax asset will not be realized. Recognition of uncertain tax positions is dependent upon whether it is more-likely-than-not that a tax position taken or expected to be taken in a tax return will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold, it is measured to determine the amount of benefit to recognize in the financial statements. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company believes that it and its subsidiaries are not subject to taxation under the laws of the Republic of The Marshall Islands or Bermuda, or that distributions by its subsidiaries to the Company will be subject to any taxes under the laws of such countries, and that it qualifies for the Section 883 exemption under U.S. federal income tax purposes.
Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) The following table contains the changes in the balances of each component of accumulated other comprehensive income (loss) attributable to shareholders of Teekay for the periods presented. Qualifying Cash Pension Unrealized Foreign Total $ $ $ $ $ Balance as of December 31, 2012 341 (16,253 ) — 1,144 (14,768 ) Other comprehensive (loss) income (324 ) (2,666 ) (171 ) 740 (2,421 ) Balance as of December 31, 2013 17 (18,919 ) (171 ) 1,884 (17,189 ) Other comprehensive (loss) income (485 ) (10,969 ) 171 174 (11,109 ) Balance as of December 31, 2014 (468 ) (29,888 ) — 2,058 (28,298 ) Other comprehensive income (loss) 49 14,038 (463 ) (217 ) 13,407 Balance as of December 31, 2015 (419 ) (15,850 ) (463 ) 1,841 (14,891 )
Employee pension plans	Employee pension plans The Company has defined contribution pension plans covering the majority of its employees. Pension costs associated with the Company’s required contributions under its defined contribution pension plans are based on a percentage of employees’ salaries and are charged to earnings in the year incurred. The Company also has defined benefit pension plans covering certain of its employees. The Company accrues the costs and related obligations associated with its defined benefit pension plans based on actuarial computations using the projected benefits obligation method and management’s best estimates of expected plan investment performance, salary escalation, and other relevant factors. For the purpose of calculating the expected return on plan assets, those assets are valued at fair value. The overfunded or underfunded status of the defined benefit pension plans are recognized as assets or liabilities in the consolidated balance sheet. The Company recognizes as a component of other comprehensive loss, the gains or losses that arise during a period but that are not recognized as part of net periodic benefit costs.
Earnings (loss) per common share	Earnings (loss) per common share The computation of basic earnings (loss) per share is based on the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the exercise of all dilutive stock options and restricted stock awards using the treasury stock method. The computation of diluted loss per share does not assume such exercises.
Adoption of new accounting pronouncements	Adoption of new accounting pronouncements In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs ASU 2015-03 In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes
Accounting pronouncements not yet adopted	Accounting pronouncements not yet adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In February 2015, the FASB issued Accounting Standards Update 2015-02, Amendments to the Consolidation Analysis ASU 2015-02 In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases ASU 2016-02

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
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 (loss) of partially- owned consolidated entities (1) Non- public partially- owned subsidiaries Preferred unit holders Distributed Earnings Undistributed Earnings Total Distributed Earnings Undistributed Earnings Total Teekay Offshore 13,911 28,609 119,971 (103,949 ) 58,542 70,414 (38,913 ) 31,501 90,043 Teekay LNG 16,627 — 120,482 (1,510 ) 135,599 82,791 (880 ) 81,911 217,510 Teekay Tankers — — — 129,725 129,725 — 47,202 47,202 176,927 Other entities and eliminations — — — — (557 ) For the Year Ended December 31, 2015 30,538 28,609 240,453 24,266 323,309 Teekay Offshore 10,503 10,875 136,743 (150,724 ) 7,397 71,166 (60,907 ) 10,259 17,656 Teekay LNG 13,489 — 143,292 (26,116 ) 130,665 101,946 (13,684 ) 88,262 218,927 Teekay Tankers — — — 41,048 41,048 — 16,094 16,094 57,142 Other entities and eliminations — — — — (351 ) For the Year Ended December 31, 2014 23,992 10,875 280,035 (135,792 ) 178,759 Teekay Offshore (19,089 ) 7,250 127,523 (86,148 ) 29,536 65,393 (20,789 ) 44,604 74,140 Teekay LNG 12,073 — 127,087 (13,101 ) 126,059 94,253 (6,997 ) 87,256 213,315 Teekay Tankers — — — (6,096 ) (6,096 ) — (2,042 ) (2,042 ) (8,138 ) Other entities and eliminations — — — — 719 For the Year Ended December 31, 2013 (7,016 ) 7,250 254,610 (105,345 ) 150,218 (1) Excludes the results of the acquisition of interests in vessels between Teekay Corporation, Teekay Offshore and Teekay Tankers during the periods the vessels were under common control and had begun operations.
Summary of Capitalized Dry Docking Costs	The continuity of capitalized dry-docking costs for the years ended December 31, 2015, 2014, and 2013, is summarized as follows: Year Ended December 31, 2015 2014 2013 $ $ $ Balance at the beginning of the year 135,331 118,194 100,928 Costs incurred for dry dockings 69,927 74,018 72,545 Dry-dock amortization (47,271 ) (50,926 ) (50,325 ) Write down / sales of vessels (7,285 ) (5,955 ) (4,954 ) Balance at the end of the year 150,702 135,331 118,194
Summary of Financing Receivables	The following table contains a summary of the Company’s financing receivables by type of borrower, the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis, and the grade as of December 31, 2015. December 31, Class of Financing Receivable Credit Quality Indicator Grade 2015 $ 2014 $ Direct financing leases Payment activity Performing 684,129 704,953 Other loan receivables Loans to equity-accounted investees and joint venture partners Other internal metrics Performing 191,517 253,426 Long-term receivable included in other assets Payment activity Performing 37,032 43,843 912,678 1,002,222
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table contains the changes in the balances of each component of accumulated other comprehensive income (loss) attributable to shareholders of Teekay for the periods presented. Qualifying Cash Pension Unrealized Foreign Total $ $ $ $ $ Balance as of December 31, 2012 341 (16,253 ) — 1,144 (14,768 ) Other comprehensive (loss) income (324 ) (2,666 ) (171 ) 740 (2,421 ) Balance as of December 31, 2013 17 (18,919 ) (171 ) 1,884 (17,189 ) Other comprehensive (loss) income (485 ) (10,969 ) 171 174 (11,109 ) Balance as of December 31, 2014 (468 ) (29,888 ) — 2,058 (28,298 ) Other comprehensive income (loss) 49 14,038 (463 ) (217 ) 13,407 Balance as of December 31, 2015 (419 ) (15,850 ) (463 ) 1,841 (14,891 )

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Revenue and Income from Vessel Operations by Segment	The following table includes results for the Company’s revenue and income from vessel operations by segment for the periods presented in these financial statements. Revenues (1) Income (Loss) from Vessel Operations (2) Year Ended Year Ended December 31, December 31, 2015 2014 2013 2015 2014 2013 Teekay Offshore Offshore Logistics 667,629 631,455 611,035 108,119 146,756 40,127 Offshore Production 531,554 354,518 284,932 165,152 95,991 48,170 Conventional Tankers 30,230 33,566 55,010 10,128 13,471 10,594 1,229,413 1,019,539 950,977 283,399 256,218 98,891 Teekay LNG Liquefied Gas Carriers 305,056 307,426 285,694 151,200 156,868 144,430 Conventional Tankers 92,935 95,502 113,582 30,172 26,955 31,926 397,991 402,928 399,276 181,372 183,823 176,356 Teekay Tankers (3) Conventional Tankers 504,347 235,593 170,087 184,083 58,271 3,411 Teekay Parent Offshore Production 277,842 259,945 282,687 (40,227 ) (78,804 ) (67,486 ) Conventional Tankers 65,777 94,376 83,520 4,984 (12,407 ) (158,091 ) Other 75,547 95,791 73,801 5,015 17,488 12,365 419,166 450,112 440,008 (30,228 ) (73,723 ) (213,212 ) Eliminations and other (100,535 ) (114,252 ) (130,263 ) 6,506 2,570 (2,700 ) 2,450,382 1,993,920 1,830,085 625,132 427,159 62,746 (1) Certain vessels are chartered between the Daughter Companies and Teekay Parent. The amounts in the table below represent revenue earned by each segment from other segments within the group. Such intersegment revenue for the year ended 2015, 2014 and 2013 is as follows: Year Ended December 31, 2015 2014 2013 Teekay Offshore - Offshore Logistics 38,734 34,603 37,876 Teekay Offshore - Conventional Tankers 29,259 32,411 44,269 Teekay LNG - Liquefied Gas Carriers 35,887 37,596 34,573 Teekay Tankers - Conventional Tankers 1,380 13,707 13,545 Teekay Parent - Conventional Tankers 3,080 — — 108,340 118,317 130,263 (2) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). (3) Financial information for Teekay Tankers includes operations of the SPT Explorer Navigator Spirit
Revenues and Percentage of Consolidated Revenues	The following table presents revenues and percentage of consolidated revenues for customers that accounted for more than 10% of the Company’s consolidated revenues during the periods presented. All of these customers are international oil companies. Year Ended Year Ended Year Ended December 31, December 31, December 31, (U.S. dollars in millions) 2015 2014 2013 BG Group (1) $263.4 or 11% (5) (5) Petroleo Brasileiro SA (2) $231.8 or 10% $248.2 or 12% $244.3 or 13% Statoil ASA (3) (5) $239.8 or 12% $250.5 or 14% BP PLC (4) (5) (5) $182.5 or 10% (1) Teekay Offshore - Offshore Logistics and Offshore Production. In February 2016, Royal Dutch Shell Plc acquired BG Group Plc. (2) Teekay Offshore - Offshore Logistics and Offshore Production, Teekay Tankers - Conventional Tankers and Teekay Parent – Conventional Tankers (3) Teekay Offshore - Offshore Logistics, Teekay Tankers - Conventional Tankers, Teekay Parent – Offshore Production and Teekay Parent – Conventional Tankers (4) Teekay Offshore - Offshore Logistics, Teekay LNG - Liquefied Gas, Teekay Parent – Offshore Production and Teekay Parent – Conventional Tankers (5) Less than 10%
Other Income Statement Items by Segment	The following table includes other income statement items by segment for the periods presented in these financial statements. Depreciation and Amortization Asset Impairment and Loan Equity Income (Loss) Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 2015 2014 2013 2015 2014 2013 Teekay Offshore Offshore Logistics (130,102 ) (118,968 ) (126,091 ) (67,744 ) (4,759 ) (76,782 ) — — — Offshore Production (137,914 ) (72,905 ) (66,404 ) — — — 7,672 10,341 6,731 Conventional Tankers (6,583 ) (6,680 ) (7,747 ) (3,897 ) — (18,164 ) — — — (274,599 ) (198,553 ) (200,242 ) (71,641 ) (4,759 ) (94,946 ) 7,672 10,341 6,731 Teekay LNG Liquefied Gas Carriers (71,323 ) (71,711 ) (71,485 ) — — — 84,171 115,478 123,282 Conventional Tankers (20,930 ) (22,416 ) (26,399 ) — — — — — — (92,253 ) (94,127 ) (97,884 ) — — — 84,171 115,478 123,282 Teekay Tankers (1) Conventional Tankers (71,429 ) (50,152 ) (47,833 ) — — — 14,411 5,228 854 Teekay Parent Offshore Production (69,508 ) (78,630 ) (77,551 ) — 2,521 (2,634 ) (12,196 ) (1,357 ) 4,649 Conventional Tankers (2,852 ) (2,216 ) (9,882 ) — — (92,699 ) 16,712 3,052 1,291 Other 451 774 2,306 — — 21,926 (1,101 ) (2,546 ) (269 ) (71,909 ) (80,072 ) (85,127 ) — 2,521 (73,407 ) 3,415 (851 ) 5,671 Other 690 — — — — — (6,798 ) (2,082 ) — (509,500 ) (422,904 ) (431,086 ) (71,641 ) (2,238 ) (168,353 ) 102,871 128,114 136,538 (1) Financial information for Teekay Tankers includes operations of the SPT Explorer Navigator Spirit
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, 2015 $ December 31, 2014 $ Teekay Offshore - Offshore Logistics 2,591,489 2,186,789 Teekay Offshore - Offshore Production 2,717,193 1,261,569 Teekay Offshore - Conventional Tankers 63,900 150,044 Teekay LNG - Liquefied Gas Carriers 3,550,396 3,379,279 Teekay LNG - Conventional Tankers 360,527 381,175 Teekay Tankers - Conventional Tankers 2,073,059 1,000,864 Teekay Parent - Offshore Production 710,533 2,138,445 Teekay Parent - Conventional Tankers 142,236 138,504 Teekay Parent - Other 17,256 31,328 Cash and cash equivalents 678,392 806,904 Other assets not allocated 301,586 394,341 Eliminations (145,319 ) (89,552 ) Consolidated total assets 13,061,248 11,779,690
Capital Expenditures by Segment	The following table includes capital expenditures by segment for the periods presented in these financial statements. December 31, 2015 $ December 31, 2014 $ Teekay Offshore - Offshore Logistics 552,219 154,896 Teekay Offshore - Offshore Production 120,160 17,022 Teekay Offshore - Conventional Tankers 97 251 Teekay LNG - Liquefied Gas Carriers 191,642 193,669 Teekay LNG - Conventional Tankers 327 586 Teekay Tankers - Conventional Tankers 848,250 2,063 Teekay Parent - Offshore Production 57,778 671,277 Teekay Parent - Conventional Tankers 92 (44 ) Teekay Parent - Other 199 13 1,770,764 1,039,733

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Teekay Offshore [Member] | ALP Maritime Services B.V [Member]
Summary of Preliminary and Finalized Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the finalized estimates of fair values of the ALP assets acquired and liabilities assumed by Teekay Offshore on the acquisition date. (in thousands of U.S. dollars) As at ASSETS Cash and cash equivalents 294 Other current assets 404 Advances on newbuilding contracts 164 Other assets - long-term 395 Goodwill 2,032 Total assets acquired 3,289 LIABILITIES Current liabilities 387 Other long-term liabilities 286 Total liabilities assumed 673 Net assets acquired 2,616 Consideration 2,616
Teekay Offshore [Member] | Logitel Offshore Holdings [Member]
Summary of Preliminary and Finalized Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary and final valuations of the Logitel assets and liabilities on the acquisition date. The estimates of fair values of the Logitel assets acquired and liabilities assumed by Teekay Offshore were finalized during the second quarter of 2015. (in thousands of U.S. Dollars) Preliminary Adjustments Final Valuation ASSETS Cash and cash equivalents 8,089 — 8,089 Prepaid expenses 640 — 640 Advances on newbuilding contracts 46,809 (2,239 ) 44,570 Intangible assets — 1,000 1,000 Total assets acquired 55,538 (1,239 ) 54,299 LIABILITIES Accrued liabilities 4,098 — 4,098 Long-term debt 26,270 1,330 27,600 Total liabilities assumed 30,368 1,330 31,698 Net assets acquired 25,170 (2,569 ) 22,601 Cash consideration 4,000 — 4,000 Contingent consideration 21,170 (2,569 ) 18,601
Teekay Tankers [Member] | Ship-to-Ship Transfer Business (SPT) [Member]
Summary of Preliminary and Finalized Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary estimates of fair values of the SPT assets acquired and liabilities assumed by Teekay Tankers on the acquisition date of July 31, 2015. Teekay Tankers is continuing to obtain information to finalize estimated fair value of the SPT assets acquired and liabilities assumed at the acquisition date of July 31, 2015 and expects to complete this process as soon as practicable, but no later than one year from the acquisition date. As at ASSETS Cash, cash equivalents and short-term restricted cash 1,292 Accounts receivable 10,332 Prepaid expenses and other current assets 3,763 Vessels and equipment 6,475 Other assets 143 Intangible assets subject to amortization Customer relationships (Note 6) 30,879 Total assets acquired 52,884 LIABILITIES Accounts payable (3,650 ) Accrued liabilities (3,276 ) Total liabilities assumed (6,926 ) Net assets acquired (1) 45,958 (1) Prior to the SPT acquisition date, SPT had in-chartered the SPT Explorer

Equity Financing Transactions (

Equity Financing Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summary of Proceeds Received from Financial Transactions	During the years ended December 31, 2015, 2014, and 2013, the Company’s publicly traded subsidiaries, Teekay Tankers, Teekay Offshore and Teekay LNG, completed the following public offerings and private placements of equity securities: Total Proceeds $ Less: Teekay $ (1) Offering $ Net Proceeds $ 2015 Teekay Offshore Preferred B Units Offering 125,000 — (4,210 ) 120,790 Teekay Offshore Preferred C Units Offering 250,000 — (250 ) 249,750 Teekay Offshore Continuing Offering Program 3,551 (71 ) (66 ) 3,414 Teekay LNG Continuous Offering Program 36,274 (725 ) (900 ) 34,649 Teekay Tankers Public Offering 13,716 — (31 ) 13,685 Teekay Tankers Continuous Offering Program 94,595 — (2,155 ) 92,440 Teekay Tankers Private Placement 109,907 — — 109,907 2014 Teekay Offshore Continuous Offering Program 7,784 (156 ) (153 ) 7,475 Teekay Offshore Direct Equity Placement 178,569 (3,571 ) (75 ) 174,923 Teekay LNG Public Offering 140,784 (2,816 ) (299 ) 137,669 Teekay LNG Continuous Offering Program 42,556 (851 ) (901 ) 40,804 Teekay Tankers Public Offering 116,000 (20,000 ) (4,810 ) 91,190 2013 Teekay Offshore Direct Equity Placements 115,688 (2,314 ) (188 ) 113,186 Teekay Offshore Preferred Units Offering 150,000 — (5,200 ) 144,800 Teekay Offshore Continuous Offering Program 2,819 (59 ) (449 ) 2,311 Teekay LNG Continuous Offering Program 5,383 (107 ) (457 ) 4,819 Teekay LNG Direct Equity Placement 40,816 (816 ) (40 ) 39,960 Teekay LNG Public Offering 150,040 (3,001 ) (5,222 ) 141,817

Goodwill, Intangible Assets a38

Goodwill, Intangible Assets and In-Process Revenue Contracts (Tables)	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Carrying Amount of Goodwill for Company's Reportable Segment	The carrying amount of goodwill for the years ended December 31, 2015 and 2014, for the Company’s reportable segments are as follows: Teekay Offshore Offshore Logistics Teekay LNG Segment - Liquefied Gas Total $ $ $ Balance as of December 31, 2013 130,908 35,631 166,539 Goodwill acquired 2,032 — 2,032 Balance as of December 31, 2014 and 2015 132,940 35,631 168,571
Summary of Intangible Assets	As at December 31, 2015, the Company’s intangible assets consisted of: Gross Carrying Accumulated Net Carrying Amount $ $ $ Customer contracts 316,684 (234,894 ) 81,790 Customer relationships 30,879 (1,260 ) 29,619 Other intangible assets 1,000 (500 ) 500 348,563 (236,654 ) 111,909 As at December 31, 2014 the Company’s intangible assets consisted of: Gross Carrying $ Accumulated $ Net Carrying Amount $ Customer contracts 316,684 (223,018 ) 93,666 Other intangible assets 1,000 — 1,000 317,684 (223,018 ) 94,666

Accrued Liabilities and Other39

Accrued Liabilities and Other Long-Term Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	7. Accrued Liabilities and Other Long-Term Liabilities Accrued Liabilities December 31, 2015 $ December 31, 2014 $ Voyage and vessel expenses 168,120 163,155 Interest 66,110 60,064 Payroll and benefits and other 88,239 100,606 Deferred revenue - current 76,883 66,027 Loan from affiliates 12,426 4,907 Liabilities associated with assets held for sale 500 — 412,278 394,759
Schedule of Other Long-Term Liabilities	Other Long-Term Liabilities December 31, 2015 $ December 31, 2014 $ Deferred revenues and gains 248,984 253,639 Guarantee liability 26,467 24,880 Asset retirement obligation 25,484 25,006 Pension liabilities 14,953 31,365 Contingent consideration liability 6,225 18,969 Unrecognized tax benefits and deferred income tax 21,967 21,779 Other 8,298 7,451 352,378 383,089

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	December 31, 2015 $ December 31, 2014 $ Revolving Credit Facilities 1,500,848 1,766,824 Senior Notes (8.5%) due January 15, 2020 592,657 392,657 Norwegian Kroner-denominated Bonds due through May 2020 621,957 697,798 U.S. Dollar-denominated Term Loans due through 2028 4,020,665 3,103,255 U.S. Dollar Bonds due through 2024 502,449 496,098 Euro-denominated Term Loans due through 2023 241,798 284,993 Total principal 7,480,374 6,741,625 Unamortized discount and debt issuance costs (96,288) (89,649) Total debt 7,384,086 6,651,976 Less current portion (1,106,104) (652,645) Long-term portion 6,277,982 5,999,331

Operating and Direct Financin41

Operating and Direct Financing Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Text Block [Abstract]
Estimated Future Minimum Rental Payments to be Received and Paid Under Lease Contracts	As at December 31, 2015, the total estimated future minimum rental payments to be received and paid under the lease contracts are as follows: Head Lease Sublease Year Receipts (1) Payments (1)(2) 2016 21,242 24,113 2017 21,242 24,113 2018 21,242 24,113 2019 21,242 24,113 2020 21,242 24,113 Thereafter 175,337 199,072 Total $ 281,547 $ 319,637 (1) The Head Leases are fixed-rate operating leases while the Subleases have a small variable-rate component. As at December 31, 2015, the Teekay Tangguh Subsidiary had received $228.8 million of aggregate Head Lease receipts and had paid $163.7 million of aggregate Sublease payments. The portion of the Head Lease receipts that have not been recognized into earnings, is deferred and amortized on a straight line basis over the lease terms and, as at December 31, 2015, $3.8 million and $40.4 million of Head Lease receipts had been deferred and included in accrued liabilities and other long-term liabilities, respectively, in the Company’s consolidated balance sheets. (2) The amount of payments under the Subleases is updated annually to reflect any changes in the lease payments due to changes in tax law.
Net Investments in Direct Financing Leases	The following table lists the components of the net investments in direct financing leases: December 31, December 31, 2015 2014 $ $ Total minimum lease payments to be received 855,655 936,164 Estimated unguaranteed residual value of leased properties 203,465 203,465 Initial direct costs and other 428 461 Less unearned revenue (375,419 ) (435,137 ) Total 684,129 704,953 Less current portion (26,542) (20,823 ) Long-term portion 657,587 684,130

Capital Lease Obligations (Tabl

Capital Lease Obligations (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Capital Lease Obligations	Capital Lease Obligations December 31, December 31, 2015 2014 $ $ Suezmax Tankers 59,127 63,550 Less current portion (4,546) (4,422) Long-term portion 54,581 59,128
Schedule of Repayments of Capital Leases Including Imputed Interest	As at December 31, 2015, the remaining commitments under the two capital leases, including the purchase obligations for the two Suezmax tankers, approximated $65.9 million, including imputed interest of $6.8 million, repayable from 2016 through 2018, as indicated below: Year Commitment 2016 $ 7,673 2017 $ 30,953 2018 $ 27,296

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments and Other Non-Financial Assets	The following table includes the estimated fair value and carrying value of those assets and liabilities that are measured at fair value on a recurring and non-recurring basis, as well as the estimated fair value of the Company’s financial instruments that are not accounted for at a fair value on a recurring basis. December 31, 2015 December 31, 2014 Fair Carrying $ Fair Value Asset $ Carrying $ Fair Value Asset $ Recurring Cash and cash equivalents, restricted cash, and marketable securities Level 1 855,107 855,107 927,679 927,679 Derivative instruments (note 15) Interest rate swap agreements - assets (1) Level 2 6,136 6,136 1,051 1,051 Interest rate swap agreements - liabilities (1) Level 2 (370,952 ) (370,952 ) (406,783 ) (406,783 ) Cross currency interest swap agreement (1) Level 2 (312,110 ) (312,110 ) (221,391 ) (221,391 ) Foreign currency contracts Level 2 (18,826 ) (18,826 ) (18,407 ) (18,407 ) Stock purchase warrants (note 3h and 15) Level 3 10,328 10,328 9,314 9,314 Logitel contingent consideration (see below) Level 3 (14,830 ) (14,830 ) (21,448 ) (21,448 ) Non-recurring Vessels and equipment (note 18b) Level 2 100,600 100,600 — — Assets held for sale (note 18b) Level 2 55,450 55,450 — — Other Loans to equity-accounted investees and joint venture partners - Current (2) 7,127 (2) 26,209 (2) Loans to equity-accounted investees and joint venture partners - Long-term (2) 184,390 (2) 227,217 (2) Long-term receivable (3) Level 2 16,453 16,427 17,137 17,164 Long-term debt - public (note 8) Level 1 (1,493,915 ) (1,161,729 ) (1,371,174 ) (1,405,711 ) Long-term debt - non-public (note 8) Level 2 (5,890,171 ) (5,881,483 ) (5,280,802 ) (5,263,586 ) (1) The fair value of the Company’s interest rate swap agreements at December 31, 2015 includes $21.7 million (December 31, 2014 - $24.5 million) accrued interest expense which is recorded in accrued liabilities on the consolidated balance sheets. (2) In the consolidated financial statements, the Company’s loans to and equity investments in equity-accounted investees form the aggregate carrying value of the Company’s interests in entities accounted for by the equity method. In addition, the loans to joint venture partners together with the joint venture partner’s equity investment in joint ventures form the net aggregate carrying value of the Company’s interest in the joint ventures. The fair value of the individual components of such aggregate interests is not determinable. (3) As at December 31, 2015, the estimated fair value of the non-interest bearing receivable was based on the remaining future fixed payments of $18.2 million to be received from BG, as part of the ship construction support agreement, as well as an estimated discount rate of 8.0%. As there is no market rate for the equivalent of an unsecured non-interest bearing receivable from BG, the discount rate was based on unsecured debt instruments of similar maturity held, adjusted for a liquidity premium. A higher or lower discount rate would result in a lower or higher fair value asset.
Changes in Fair Value Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3)	Changes in fair value during the year ended December 31, 2015 for one of the Company’s derivative instruments, the TIL stock purchase warrants, which are described below and are measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Year Ended December 31, 2015 2014 $ $ Fair value at the beginning of the year 9,314 — Fair value on issuance — 6,840 Unrealized gain included in earnings 1,014 2,474 Fair value at the end of the year 10,328 9,314
Changes in Estimated Fair Value of Contingent Consideration Liability Relating to Acquisition of Logitel	Changes in the estimated fair value of Teekay Offshore’s contingent consideration liability relating to the acquisition of Logitel, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3), during the year ended December 31, 2015 is as follows: Year Ended December 31, 2015 2014 $ $ Balance at beginning of year (21,448 ) — Acquisition of Logitel 2,569 (21,170 ) Settlement of liability 3,540 — Unrealized gain (loss) included in Other income 509 (278 ) Balance at end of year (14,830 ) (21,448 )

Capital Stock (Tables)

Capital Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Summary of Stock Option Activity and Related Information	A summary of the Company’s stock option activity and related information for the years ended December 31, 2015, 2014, and 2013, are as follows: December 31, 2015 December 31, 2014 December 31, 2013 Options Weighted- $ Options Weighted- $ Options Weighted- $ Outstanding - beginning of year 2,710 36.61 4,237 36.33 5,285 34.40 Granted 265 43.99 15 56.76 73 34.07 Exercised (36 ) 33.79 (1,528 ) 36.10 (1,039 ) 26.21 Forfeited / expired (139 ) 46.80 (14 ) 28.51 (82 ) 38.46 Outstanding - end of year 2,800 36.84 2,710 36.61 4,237 36.33 Exercisable - end of year 2,500 36.03 2,508 37.03 3,848 37.03
Non-Vested Stock Option Activity and Related Information	A summary of the Company’s non-vested stock option activity and related information for the years ended December 31, 2015, 2014 and 2013, are as follows: December 31, 2015 December 31, 2014 December 31, 2013 Options (000’s) # Weighted- Average Grant Date Fair Value $ Options (000’s) # Weighted- Average Grant Value $ Options (000’s) # Weighted- Average Grant Date Fair Value $ Outstanding non-vested stock options - beginning of year 202 9.37 389 9.24 723 8.74 Granted 265 7.74 15 11.50 73 10.54 Vested (167 ) 9.07 (188 ) 9.30 (401 ) 8.57 Forfeited — — (14 ) 9.01 (6 ) 9.46 Outstanding non-vested stock options - end of year 300 8.09 202 9.37 389 9.24
Details Regarding Outstanding and Exercisable Stock Options	Further details regarding the Company’s outstanding and exercisable stock options at December 31, 2015 are as follows: Outstanding Options Exercisable Options Range of Exercise Prices Options Weighted- Weighted- $ Options Weighted- Weighted- $ $10.00 – $19.99 188 3.2 11.84 188 3.2 11.84 $20.00 – $24.99 293 4.2 24.42 293 4.2 24.42 $25.00 – $29.99 365 6.2 27.69 365 6.2 27.69 $30.00 – $34.99 117 6.3 34.44 93 6.1 34.53 $35.00 – $39.99 364 0.4 39.01 364 0.4 39.01 $40.00 – $44.99 1,029 4.0 41.33 764 2.2 40.41 $50.00 – $54.99 429 1.2 51.40 429 1.2 51.40 $55.00 – $59.99 15 8.2 56.76 5 8.2 56.76 2,800 3.5 36.84 2,500 2.8 36.03

Other Income (Loss) (Tables)

Other Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Summary of Other (Loss) Income	Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ TIL stock purchase warrants received (note 15) — 6,839 — Volatile organic compound emission plant lease (loss) income (417 ) 24 238 Impairment of marketable securities (683 ) (1,322 ) (2,062 ) Miscellaneous income 2,666 1,006 9,229 Loss on bond repurchases — (7,699 ) (1,759 ) Other income (loss) 1,566 (1,152 ) 5,646

Derivative Instruments and He46

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commitment of Foreign Currency Forward Contracts	As at December 31, 2015, the Company was committed to the following foreign currency forward contracts: Contract Amount Average Forward (1) Fair Value / Carrying Amount Expected Maturity of Asset (Liability) 2016 $ 2017 $ Euro 11,103 0.91 (45 ) 12,153 — Norwegian Kroner 1,105,000 7.72 (18,005 ) 100,812 42,274 Singapore Dollar 22,442 1.36 (776 ) 16,537 — (18,826 ) 129,502 42,274 (1) Average contractual exchange rate represents the contracted amount of foreign currency one U.S. Dollar will buy.
Commitment of Cross Currency Swaps	As at December 31, 2015, the Company was committed to the following cross currency swaps: Notional Amount NOK Notional Amount USD Floating Rate Receivable Fixed Rate Payable Fair Value / Carrying Amount of Remaining Term (years) Reference Rate Margin Asset / (Liability) 500,000 89,710 NIBOR 4.00 % 4.94 % (33,714 ) 0.1 600,000 101,351 NIBOR 5.75 % 7.49 % (36,505 ) 1.1 700,000 125,000 NIBOR 5.25 % 6.88 % (49,703 ) 1.3 800,000 143,536 NIBOR 4.75 % 6.07 % (56,985 ) 2.1 900,000 150,000 NIBOR 4.35 % 6.43 % (54,027 ) 2.7 1,000,000 162,200 NIBOR 4.25 % 6.42 % (56,124 ) 3.1 1,000,000 134,000 NIBOR 3.70 % 5.92 % (25,052 ) 4.4 (312,110 )
Interest Rate Swap Agreements	As at December 31, 2015, the Company was committed to the following interest rate swap agreements related to its LIBOR-based debt and EURIBOR-based debt, whereby certain of the Company’s floating-rate debt were swapped with fixed-rate obligations: Interest Index Principal $ Fair Value / Weighted- Fixed (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 3,092,442 (312,131 ) 5.4 3.4 U.S. Dollar-denominated interest rate swaps (3) LIBOR 412,392 (16,227 ) 3.0 2.8 U.S. Dollar-denominated interest rate swaption (4) LIBOR 155,000 (2,626 ) 1.3 2.2 U.S. Dollar-denominated interest rate swaption (4) LIBOR 155,000 685 1.3 3.3 U.S. Dollar-denominated interest rate swaption (5) LIBOR 160,000 (2,041 ) 2.1 2.0 U.S. Dollar-denominated interest rate swaption (5) LIBOR 160,000 1,956 2.1 3.1 U.S. Dollar-denominated interest rate swaption (6) LIBOR 160,000 (1,739 ) 2.5 1.8 U.S. Dollar-denominated interest rate swaption (6) LIBOR 160,000 2,981 2.5 2.9 EURIBOR-Based Debt: Euro-denominated interest rate swaps (7) (8) EURIBOR 241,798 (35,674 ) 5.0 3.1 (364,816 ) (1) Excludes the margins the Company pays on its variable-rate debt, which, as of December 31, 2015, ranged from 0.3% to 3.95%. (2) Principal amount of $200 million is fixed at 2.14%, unless LIBOR exceeds 6%, in which case the Company pays a floating rate of interest. (3) Interest rate swaps with an aggregate principal amount of $320 million are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2016 to 2021. These interest rate swaps are subject to mandatory early termination in 2016 whereby the swaps will be settled based on their fair value at that time. (4) During June 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in April 2017 to enter into an interest rate swap at a fixed rate of 3.34% with a third party, and the third party has a one-time option in April 2017 to require Teekay LNG to enter into an interest swap at a fixed rate of 2.15%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in April 2017 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (5) During August 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in January 2018 to enter into an interest rate swap at a fixed rate of 3.10% with a third party, and the third party has a one-time option in January 2018 to require Teekay LNG to enter into an interest swap at a fixed rate of 1.97%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in January 2018 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (6) During October 2015, as part of its hedging program, Teekay LNG entered into interest rate swaption agreements whereby it has a one-time option in July 2018 to enter into an interest rate swap at a fixed rate of 2.935% with a third party, and the third party has a one-time option in July 2018 to require Teekay LNG to enter into an interest swap at a fixed rate of 1.83%. If Teekay LNG or the third party exercises its option, there will be a cash settlement in July 2018 for the fair value of the interest rate swap, in lieu of taking delivery of the actual interest rate swap. (7) Principal amount reduces monthly to 70.1 million Euros ($76.1 million) by the maturity dates of the swap agreements. (8) Principal amount is the U.S. Dollar equivalent of 222.7 million Euros.
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 Derivative Accrued Current Derivative As at December 31, 2015 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — — (338 ) (777 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 80 — — (16,372 ) (2,534 ) Interest rate swap agreements — 7,516 (18,348 ) (198,196 ) (154,673 ) Cross currency swap agreements — — (3,377 ) (52,633 ) (256,100 ) Stock purchase warrants — 10,328 — — — 80 17,844 (21,725 ) (267,539 ) (414,084 ) As at December 31, 2014 Derivatives not designated as a cash flow hedge: Foreign currency contracts — — — (14,218 ) (4,189 ) Interest rate swap agreements — 5,101 (22,656 ) (148,006 ) (240,171 ) Cross currency swap agreements — — (1,835 ) (41,733 ) (177,822 ) Stock purchase warrants — 9,314 — — — — 14,415 (24,491 ) (203,957 ) (422,182 )
Effective Portion of Gains (Losses) on Interest Rate Swap Agreements	For the periods indicated, the following table presents the effective portion of gains (losses) on interest rate swap agreements designated and qualifying as cash flow hedges that were (1) recognized in other comprehensive (loss) income, (2) recorded in accumulated other comprehensive income (or AOCI) Year Ended December 31, 2015 Balance Sheet (AOCI) Statement of Income (Loss) Effective Portion Effective Ineffective (65 ) — (1,050 ) Interest expense (65 ) — (1,050 )
Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments	The effect of the gains and losses on derivatives not designated as hedging instruments in the consolidated statements of income are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Realized losses relating to: Interest rate swap agreements (108,036 ) (125,424 ) (122,439 ) Interest rate swap agreement terminations (10,876 ) (1,319 ) (35,985 ) Foreign currency forward contracts (21,607 ) (4,436 ) (2,027 ) (140,519 ) (131,179 ) (160,451 ) Unrealized gains (losses) relating to: Interest rate swap agreements 37,723 (86,045 ) 182,800 Foreign currency forward contracts (418 ) (16,926 ) (3,935 ) Stock purchase warrants 1,014 2,475 — 38,319 (100,496 ) 178,865 Total realized and unrealized (losses) gains on derivative instruments (102,200 ) (231,675 ) 18,414
Effect of Gains (Losses) on Cross Currency Swaps	The effect of the loss on cross currency swaps on the consolidated statements of income is as follows: Year Ended December 31, 2015 2014 2013 $ $ $ Realized (loss) gain on maturity and partial termination of cross currency swaps (36,155 ) — 6,800 Realized (losses) gains (18,973 ) (3,955 ) 2,089 Unrealized losses (89,178 ) (167,334 ) (65,387 ) Total realized and unrealized (losses) gains on cross currency swaps (144,306 ) (171,289 ) (56,498 )

Supplemental Cash Flow Inform47

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Changes in Operating Assets and Liabilities	a) The changes in operating assets and liabilities for the years ended December 31, 2015, 2014, and 2013, are as follows: Year Ended December 31, 2015 2014 2013 Accounts receivable (6,488 ) 136,660 (77,837 ) Prepaid expenses and other assets (10,607 ) (1,618 ) (2,386 ) Accounts payable (24,727 ) (17,643 ) (10,877 ) Accrued and other liabilities 29,531 (56,768 ) 155,284 (12,291 ) 60,631 64,184

Income (Loss) Per Share (Tables

Income (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of Income (Loss) Per Share	Year Ended December 31, 2015 2014 2013 $ $ $ Net income (loss) attributable to shareholders of Teekay Corporation 82,151 (54,757 ) (114,738 ) Reduction in net earnings due to dilutive impact of stock-based compensation in Teekay LNG, Teekay Offshore and Teekay Tankers and Series C Preferred Units in Teekay Offshore (227 ) — — Net income (loss) attributable to shareholders of Teekay Corporation for diluted income (loss) per share 81,924 (54,757 ) (114,738 ) Weighted average number of common shares 72,665,783 72,066,008 70,457,958 Dilutive effect of stock-based compensation 524,781 — — Common stock and common stock equivalents 73,190,564 72,066,008 70,457,958 Income (loss) per common share: - Basic 1.13 (0.76 ) (1.63 ) - Diluted 1.12 (0.76 ) (1.63 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Company's Deferred Tax Assets and Liabilities	The significant components of the Company’s deferred tax assets and liabilities are as follows: December 31, December 31, 2015 2014 $ $ Deferred tax assets: Vessels and equipment 43,289 43,268 Tax losses carried forward (1) 310,019 360,547 Other 22,141 28,973 Total deferred tax assets 375,449 432,788 Deferred tax liabilities: Vessels and equipment 10,577 12,514 Long-term debt 3,218 2,295 Other 15,090 19,954 Total deferred tax liabilities 28,885 34,763 Net deferred tax assets 346,564 398,025 Valuation allowance (310,862 ) (385,431 ) Net deferred tax assets 35,702 12,594 Net deferred tax assets are presented in other non-current assets and other long term liabilities in the accompanying consolidated balance sheets. (1) Substantially all of the Company’s net operating loss carryforwards of $1.28 billion relate primarily to its Norwegian, U.K., and Spanish subsidiaries and, to a lesser extent, to its Australian ship-owning subsidiaries. These net operating loss carryforwards are available to offset future taxable income in the respective jurisdictions, and can be carried forward indefinitely. The Company also has $37.2 million in disallowed finance costs that relate to its Spanish subsidiaries and are available to offset future taxable income in Spain and can also be carried forward indefinitely.
Components of Provision for Income Taxes	The components of the provision for income taxes are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Current (10,440 ) (6,460 ) 2,742 Deferred 27,207 (3,713 ) (5,614 ) Income tax recovery (expense) 16,767 (10,173 ) (2,872 )
Reconciliations of Income Tax Rates and Actual Tax Charge	Reconciliations of the tax charge related to the relevant year at the applicable statutory income tax rates and the actual tax charge related to the relevant year are as follows: Year Ended Year Ended Year Ended December 31, December 31, December 31, $ $ $ Net income before taxes 388,693 134,175 38,352 Net income (loss) not subject to taxes 252,604 (80,454 ) (267,665 ) Net income subject to taxes 136,089 214,629 306,017 At applicable statutory tax rates 32,750 39,382 12,719 Permanent and currency differences, adjustments to valuation allowances and uncertain tax positions (49,789 ) (28,027 ) (8,173 ) Other 272 (1,182 ) (1,674 ) Tax (recovery) expense related to the current year (16,767 ) 10,173 2,872
Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities	The following is a roll-forward of the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from January 1, 2013 to December 31, 2015: Year ended Year ended Year ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Balance of unrecognized tax benefits as at January 1 20,335 20,304 29,364 Increases for positions related to the current year 4,578 3,643 1,141 Changes for positions taken in prior years (2,965 ) 1,015 (1,284 ) Decreases related to statute of limitations (3,558 ) (4,627 ) (8,917 ) Balance of unrecognized tax benefits as at December 31 18,390 20,335 20,304

Pension Benefits (Tables)

Pension Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Changes in Benefit Obligation and Fair Value of Benefit Plans Assets	The following table provides information about changes in the benefit obligation and the fair value of the Benefit Plans assets, a statement of the funded status, and amounts recognized on the Company’s balance sheets: Year Ended Year Ended December 31, 2015 December 31, 2014 $ $ Change in benefit obligation: Beginning balance 121,604 150,996 Service cost 7,726 8,800 Interest cost 2,532 4,975 Contributions by plan participants 365 292 Actuarial (gain) loss (9,165 ) 15,982 Benefits paid (9,651 ) (5,476 ) Plan settlements and amendments (14,891 ) (21,235 ) Benefit obligations assumed on acquisition — 1,083 Foreign currency exchange rate changes (16,001 ) (33,680 ) Other (104 ) (133 ) Ending balance 82,415 121,604 Change in fair value of plan assets: Beginning balance 97,158 138,876 Actual return on plan assets 2,221 2,849 Contributions by the employer 7,858 12,283 Contributions by plan participants 365 292 Benefits paid (9,646 ) (5,456 ) Plan settlements and amendments (11,420 ) (22,405 ) Plan assets assumed on acquisition 203 998 Foreign currency exchange rate changes (13,096 ) (29,721 ) Other (568 ) (558 ) Ending balance 73,075 97,158 Funded status deficiency (9,340 ) (24,446 ) Amounts recognized in the balance sheets: Other long-term liabilities 9,340 24,446 Accumulated other comprehensive loss: Net actuarial losses (17,374 ) (32,060 ) (1) As at December 31, 2015, the estimated amount that will be amortized from accumulated other comprehensive (loss) income into net periodic benefit cost in 2016 is $(0.6) million.
Pension Plans with Benefit Obligations and Accumulated Benefit Obligations in Excess of Plan Assets	The following table provides information for those pension plans with a benefit obligation in excess of plan assets and those pension plans with an accumulated benefit obligation in excess of plan assets: December 31, 2015 December 31, 2014 $ $ Benefit obligation 61,124 90,042 Fair value of plan assets 50,517 64,631 Accumulated benefit obligation 1,821 60,828 Fair value of plan assets 925 55,095
Components of Net Periodic Pension Cost Relating to Benefit Plans	The components of net periodic pension cost relating to the Benefit Plans for the years ended December 31, 2015, 2014 and 2013 consisted of the following: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Net periodic pension cost: Service cost 7,726 8,800 9,768 Interest cost 2,532 4,975 4,974 Expected return on plan assets (2,895 ) (5,333 ) (5,688 ) Amortization of net actuarial loss 1,538 7,148 1,484 Plan settlement (140 ) (3,332 ) 973 Other 568 557 425 Net cost 9,329 12,815 11,936
Components of Other Comprehensive Income (Loss) Relating to Plans	The components of other comprehensive income (loss) relating to the Plans for the years ended December 31, 2015, 2014 and 2013 consisted of the following: Year Ended Year Ended Year Ended December 31, December 31, December 31, 2015 2014 2013 $ $ $ Other comprehensive income (loss): Net gain (loss) arising during the period 13,288 (14,954 ) (3,930 ) Amortization of net actuarial loss 1,538 7,148 1,484 Plan settlement (140 ) (3,332 ) 973 Total income (loss) 14,686 (11,138 ) (1,473 )
Estimated Future Benefit Payments which Reflect Expected Future Service to be Paid by Benefit Plans	The Company estimates that it will make contributions into the Benefit Plans of $4.9 million during 2016. The following table provides the estimated future benefit payments, which reflect expected future service, to be paid by the Benefit Plans: Pension Payments Year $ 2016 3,567 2017 3,111 2018 2,791 2019 2,834 2020 2,748 2021 – 2025 17,706 Total 32,757
Fair Value of Plan Assets	The fair value of the plan assets, by category, as of December 31, 2015 and 2014 were as follows: December 31, December 31, Pooled Funds (1) 52,150 66,563 Mutual Funds (2) Equity investments 11,089 7,343 Debt securities 2,512 6,119 Real estate 2,929 1,530 Cash and money market 1,674 12,238 Other 2,720 3,365 Total 73,075 97,158 (1) The Company does not control the investment mix or strategy of the pooled funds. The pooled funds guarantee a minimum rate of return. If actual investment returns are less than the guarantee minimum rate, then the provider’s statutory reserves are used to top up the shortfall. The pooled funds primarily invest in hold to maturity bonds, real estate and other fixed income investments, which are expected to provide a stable rate of return. (2) The mutual funds primary aim is to provide investors with an exposure to a diversified mix of predominantly growth oriented assets (70%) with moderate to high volatility and some defensive assets (30%).
Schedule of Assumptions Used	The weighted average assumptions used to determine benefit obligations at December 31, 2015 and 2014 were as follows: December 31, 2015 December 31, 2014 Discount rates 3.0% 2.9% Rate of compensation increase 3.4% 4.2% The weighted average assumptions used to determine net pension expense for the years ended December 31, 2015, 2014 and 2013 were as follows: Year Ended $ Year Ended $ Year Ended $ Discount rates 3.0% 2.9% 3.9% Rate of compensation increase 3.4% 4.2% 4.7% Expected long-term rates of return (1) 4.0% 4.0% 4.8% (1) To the extent the expected return on plan assets varies from the actual return, an actuarial gain or loss results. The expected long-term rates of return on plan assets are based on the estimated weighted-average long-term returns of major asset classes. In determining asset class returns, the Company takes into account long-term returns of major asset classes, historical performance of plan assets, as well as the current interest rate environment. The asset class returns are weighted based on the target asset allocations.

Equity Accounted Investments (T

Equity Accounted Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Condensed Summary of Company's Investments in and Advances to Joint Ventures	A condensed summary of the Company’s investments in equity-accounted investees by segment are as follows (in thousands of U.S. dollars, except percentages): As at December 31, Investments in Equity-accounted Investees (1) Ownership 2015 $ 2014 $ Teekay Offshore - Offshore Production Libra Joint Venture 50% 17,952 413 Itajai 50% 59,692 59,764 Teekay LNG - Liquefied Gas Angola LNG Carriers 33% 56,203 47,863 BG (note 3f) 20% - 30% 25,574 20,704 Exmar LNG Joint Venture 50% 77,844 99,541 Exmar LPG Joint Venture 50% 163,730 209,367 RasGas3 Joint Venture 40% 160,684 145,764 Teekay LNG - Marubeni Joint Venture 52% 283,589 274,431 Yamal LNG Joint Venture (note 3e) 50% 100,084 96,791 Teekay Tanker - Conventional Tankers TIL (note 3h) 10% 44,195 36,907 High-Q Joint Venture 50% 21,166 18,948 Teekay Parent - Offshore Production Sevan 43% 22,581 34,985 Itajai — 12,781 Teekay Parent - Conventional Tankers TIL (note 3h) 7% 34,224 29,043 Other 50% 16,072 32,791 1,083,590 1,120,093 (1) Investments in equity-accounted investees is presented under current portion of loans to equity-accounted investees, loans to equity-accounted investees, equity-accounted investments and accrued liabilities in the Company’s consolidated balance sheets.
Condensed Summary of Company's Financial Information for Joint Venture	A condensed summary of the Company’s financial information for equity-accounted investments (16% to 52% owned) shown on a 100% basis are as follows: As at December 31, 2015 2014 (1) Cash and restricted cash 386,727 434,833 Other assets- current 162,414 249,882 Vessels and equipment 3,936,718 3,329,796 Net investment in direct financing leases 1,813,991 1,850,279 Other assets - non-current 80,987 132,849 Current portion of long-term debt and obligations under capital lease 345,336 521,148 Other liabilities - current and obligations under capital lease 162,076 217,180 Long-term debt and obligations under capital lease 3,459,187 2,906,560 Other liabilities - non-current 447,947 459,907 Year ended December 31, 2015 2014 (1) 2013 (2) Revenues 985,318 998,655 940,156 Income from vessel operations 433,023 454,135 328,430 Realized and unrealized (loss) gain on derivative instruments (38,955 ) (58,884 ) 16,334 Net income 275,259 300,837 288,550 Certain of the comparative figures have been adjusted to conform to the presentation adopted in the current year. (1) The results included for TIL are from the date of incorporation in January 2014. (2) The results included for the Exmar LPG BVBA are from the date of acquisition in February 2013.

Summary of Significant Accoun52

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Total assets	$ 13,061,248	$ 11,779,690
Long term debt, current	1,106,104	652,645
Liabilities, current	1,886,788	1,364,487
Long term debt, non current	6,277,982	5,999,331
Total liabilities	$ 9,104,503	8,378,215
Condition for claiming depreciation vessel's estimated useful life	Commencing the date the vessel is delivered from the shipyard, or a shorter period if regulations prevent the Company from operating the vessels for those periods of time.
Depreciation and amortization	$ 509,500	422,904	$ 431,086
Amortization of vessels accounted for as capital leases	5,400	21,600	22,800
Interest costs capitalized to vessels and equipment	22,000	51,300	14,600
Asset retirement obligation	25,500	25,000
Other non-current assets	$ 214,932	190,073
Units for Maintenance and Safety [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	35 years
Long Distance Towing and Offshore Installation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Asset retirement obligation [Member]
Property, Plant and Equipment [Line Items]
Other non-current assets	$ 6,900	6,800
Crude oil tanker [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Refined product tanker [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Liquefied Natural Gas [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	35 years
Liquefied Petroleum Gas [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	30 years
Excluding amortization of Drydocking expenditure [Member]
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 445,200	341,500	$ 346,500
Maximum [Member] | Dry-docking activity [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Maximum [Member] | FPSO [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Minimum [Member] | Dry-docking activity [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years 6 months
Minimum [Member] | FPSO [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Accounting Standards Update 2015-03 [Member] | Restatement Adjustment [Member]
Property, Plant and Equipment [Line Items]
Total assets	$ (91,700)	(84,500)
Non current assets	(91,700)	(84,500)
Long term debt, current	(3,500)	(1,500)
Liabilities, current	(3,500)	(1,500)
Long term debt, non current	(88,200)	(83,000)
Total liabilities	$ (91,700)	$ (84,500)
Gp Of Teekay Lng and Teekay Offshore [Member]
Property, Plant and Equipment [Line Items]
Ownership percentage	100.00%
Teekay LNG [Member]
Property, Plant and Equipment [Line Items]
Ownership percentage	33.10%	33.50%
Teekay Offshore [Member]
Property, Plant and Equipment [Line Items]
Ownership percentage	37.00%	27.30%
Teekay Tankers [Member]
Property, Plant and Equipment [Line Items]
Ownership percentage	25.90%	26.20%
Teekay Tankers [Member] | Class B [Member]
Property, Plant and Equipment [Line Items]
Common Stock, maximum voting power	49.00%
Common stock number of votes per share	Five votes per share
Public Subsidiaries [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Ownership percentage	50.00%
General Partner [Member] | Teekay LNG [Member]
Property, Plant and Equipment [Line Items]
Interest of Company's general partner	2.00%
General Partner [Member] | Teekay Offshore [Member]
Property, Plant and Equipment [Line Items]
Interest of Company's general partner	2.00%

Summary of Significant Accoun53

Summary of Significant Accounting Policies - Net Income of Consolidated Partially-Owned Entities and Attribution of Net Income to Controlling and Non-controlling Interests (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	$ 323,309	$ 178,759	$ 150,218
Distributed Earnings, Controlling Interest	82,151	(54,757)	(114,738)
Net income (loss) of partially owned consolidated entities	405,460	124,002	35,480
Teekay Offshore [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	58,542	7,397	29,536
Distributed Earnings, Controlling Interest	31,501	10,259	44,604
Net income (loss) of partially owned consolidated entities	90,043	17,656	74,140
Teekay Offshore [Member] | Non-public partially-owned subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	13,911	10,503	(19,089)
Teekay Offshore [Member] | Distributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	119,971	136,743	127,523
Distributed Earnings, Controlling Interest	70,414	71,166	65,393
Teekay Offshore [Member] | Undistributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	(103,949)	(150,724)	(86,148)
Distributed Earnings, Controlling Interest	(38,913)	(60,907)	(20,789)
Teekay Offshore [Member] | Preferred Unitholders [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	28,609	10,875	7,250
Teekay LNG [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	135,599	130,665	126,059
Distributed Earnings, Controlling Interest	81,911	88,262	87,256
Net income (loss) of partially owned consolidated entities	217,510	218,927	213,315
Teekay LNG [Member] | Non-public partially-owned subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	16,627	13,489	12,073
Teekay LNG [Member] | Distributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	120,482	143,292	127,087
Distributed Earnings, Controlling Interest	82,791	101,946	94,253
Teekay LNG [Member] | Undistributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	(1,510)	(26,116)	(13,101)
Distributed Earnings, Controlling Interest	(880)	(13,684)	(6,997)
Teekay Tankers [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	129,725	41,048	(6,096)
Distributed Earnings, Controlling Interest	47,202	16,094	(2,042)
Net income (loss) of partially owned consolidated entities	176,927	57,142	(8,138)
Teekay Tankers [Member] | Undistributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	129,725	41,048	(6,096)
Distributed Earnings, Controlling Interest	47,202	16,094	(2,042)
Other Entities And Eliminations [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	(557)	(351)	719
Public Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	323,309	178,759	150,218
Public Subsidiaries [Member] | Non-public partially-owned subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	30,538	23,992	(7,016)
Public Subsidiaries [Member] | Distributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	240,453	280,035	254,610
Public Subsidiaries [Member] | Undistributed Earnings [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	24,266	(135,792)	(105,345)
Public Subsidiaries [Member] | Preferred Unitholders [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distributed Earnings, Net income (loss) attributable to non-controlling interests	$ 28,609	$ 10,875	$ 7,250

Summary of Significant Accoun54

Summary of Significant Accounting Policies - Summary of Capitalized Dry Docking Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Balance at the beginning of the year	$ 8,106,247
Balance at the end of the year	9,366,593	$ 8,106,247
Dry-docking activity [Member]
Property, Plant and Equipment [Line Items]
Balance at the beginning of the year	135,331	118,194	$ 100,928
Costs incurred for dry dockings	69,927	74,018	72,545
Dry-dock amortization	(47,271)	(50,926)	(50,325)
Write down / sales of vessels	(7,285)	(5,955)	(4,954)
Balance at the end of the year	$ 150,702	$ 135,331	$ 118,194

Summary of Significant Accoun55

Summary of Significant Accounting Policies - Summary of Financing Receivables (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Summary of financing receivables
Direct financing leases	$ 684,129	$ 704,953
Other loan receivables
Total direct financing leases and other loan receivables	912,678	1,002,222
Payment activity [Member] | Performing [Member]
Summary of financing receivables
Direct financing leases	684,129	704,953
Other loan receivables
Long term receivable included in other assets	37,032	43,843
Other internal metrics [Member] | Performing [Member]
Other loan receivables
Loans to equity accounted investees and joint venture partners	$ 191,517	$ 253,426

Summary of Significant Accoun56

Summary of Significant Accounting Policies - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (Loss), Beginning balance	$ (28,298)	$ (17,189)	$ (14,768)
Other comprehensive income (Loss)	13,407	(11,109)	(2,421)
Accumulated other comprehensive income (Loss), Ending balance	(14,891)	(28,298)	(17,189)
Qualifying Cash Flow Hedging Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (Loss), Beginning balance	(468)	17	341
Other comprehensive income (Loss)	49	(485)	(324)
Accumulated other comprehensive income (Loss), Ending balance	(419)	(468)	17
Pension Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (Loss), Beginning balance	(29,888)	(18,919)	(16,253)
Other comprehensive income (Loss)	14,038	(10,969)	(2,666)
Accumulated other comprehensive income (Loss), Ending balance	(15,850)	(29,888)	(18,919)
Unrealized (Loss) Gain on Available for Sale Marketable Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (Loss), Beginning balance		(171)
Other comprehensive income (Loss)	(463)	171	(171)
Accumulated other comprehensive income (Loss), Ending balance	(463)		(171)
Foreign Exchange Gain (Loss) on Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (Loss), Beginning balance	2,058	1,884	1,144
Other comprehensive income (Loss)	(217)	174	740
Accumulated other comprehensive income (Loss), Ending balance	$ 1,841	$ 2,058	$ 1,884

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015Segment
Segment Reporting Information [Line Items]
Number of reportable segments	4
Minimum [Member] | Public Subsidiaries [Member]
Segment Reporting Information [Line Items]
Number of lines of businesses	1

Segment Reporting - Revenue and

Segment Reporting - Revenue and Income from Vessel Operations by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Revenues	$ 2,450,382	$ 1,993,920	$ 1,830,085
Income (Loss) from Vessel Operations	625,132	427,159	62,746
Other Entities And Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(100,535)	(114,252)	(130,263)
Income (Loss) from Vessel Operations	6,506	2,570	(2,700)
Teekay Offshore [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	1,229,413	1,019,539	950,977
Income (Loss) from Vessel Operations	283,399	256,218	98,891
Teekay Offshore [Member] | Offshore Logistics [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	667,629	631,455	611,035
Income (Loss) from Vessel Operations	108,119	146,756	40,127
Teekay Offshore [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	531,554	354,518	284,932
Income (Loss) from Vessel Operations	165,152	95,991	48,170
Teekay Offshore [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	30,230	33,566	55,010
Income (Loss) from Vessel Operations	10,128	13,471	10,594
Teekay LNG [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	397,991	402,928	399,276
Income (Loss) from Vessel Operations	181,372	183,823	176,356
Teekay LNG [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	92,935	95,502	113,582
Income (Loss) from Vessel Operations	30,172	26,955	31,926
Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	305,056	307,426	285,694
Income (Loss) from Vessel Operations	151,200	156,868	144,430
Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	504,347	235,593	170,087
Income (Loss) from Vessel Operations	184,083	58,271	3,411
Teekay Parent [Member]
Segment Reporting Information [Line Items]
Revenues	419,166	450,112	440,008
Income (Loss) from Vessel Operations	(30,228)	(73,723)	(213,212)
Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	277,842	259,945	282,687
Income (Loss) from Vessel Operations	(40,227)	(78,804)	(67,486)
Teekay Parent [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	65,777	94,376	83,520
Income (Loss) from Vessel Operations	4,984	(12,407)	(158,091)
Teekay Parent [Member] | Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	75,547	95,791	73,801
Income (Loss) from Vessel Operations	$ 5,015	$ 17,488	$ 12,365

Segment Reporting - Revenue a59

Segment Reporting - Revenue and Income from Vessel Operations by Segment - Intersegment revenue (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Revenues	$ 2,450,382,000	$ 1,993,920,000	$ 1,830,085,000
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	108,340	118,317	130,263
Teekay Offshore [Member] | Offshore Logistics [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	38,734	34,603	37,876
Teekay Offshore [Member] | Conventional Tankers [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	29,259	32,411	44,269
Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	35,887	37,596	34,573
Teekay Tankers [Member] | Conventional Tankers [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	1,380	13,707	13,545
Teekay Parent [Member]
Segment Reporting Information [Line Items]
Revenues	419,166,000	$ 450,112,000	$ 440,008,000
Teekay Parent [Member] | Conventional Tankers [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	$ 3,080

Segment Reporting - Revenues an

Segment Reporting - Revenues and Percentage of Consolidated Revenues (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue, Major Customer [Line Items]
Revenue of Significant Customer	$ 2,450,382	$ 1,993,920	$ 1,830,085
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of Revenue of Significant Customer	11.00%
Customer Concentration Risk [Member] | BG Group [Member]
Revenue, Major Customer [Line Items]
Revenue of Significant Customer	$ 263,400
Customer Concentration Risk [Member] | Statoil ASA [Member]
Revenue, Major Customer [Line Items]
Revenue of Significant Customer		$ 239,800	$ 250,500
Customer Concentration Risk [Member] | Statoil ASA [Member] | Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of Revenue of Significant Customer		12.00%	14.00%
Customer Concentration Risk [Member] | BP PLC [Member]
Revenue, Major Customer [Line Items]
Revenue of Significant Customer			$ 182,500
Customer Concentration Risk [Member] | BP PLC [Member] | Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of Revenue of Significant Customer			10.00%
Customer Concentration Risk [Member] | Petroleo Brasileiro SA [Member]
Revenue, Major Customer [Line Items]
Revenue of Significant Customer	$ 231,800	$ 248,200	$ 244,300
Customer Concentration Risk [Member] | Petroleo Brasileiro SA [Member] | Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of Revenue of Significant Customer	10.00%	12.00%	13.00%

Segment Reporting - Revenues 61

Segment Reporting - Revenues and Percentage of Consolidated Revenues (Parenthetical) (Detail) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue, Major Customer [Line Items]
Percentage of revenue	11.00%
BG Group [Member] | Maximum [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue		10.00%	10.00%
Statoil ASA [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue		12.00%	14.00%
Statoil ASA [Member] | Maximum [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue	10.00%
BP PLC [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue			10.00%
BP PLC [Member] | Maximum [Member]
Revenue, Major Customer [Line Items]
Percentage of revenue	10.00%	10.00%

Segment Reporting - Other Incom

Segment Reporting - Other Income Statement Items by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Depreciation and Amortization	$ (509,500)	$ (422,904)	$ (431,086)
Asset Impairment and Loan Loss (Provisions) Recoveries	(71,641)	(2,238)	(168,353)
Equity Income (Loss)	102,871	128,114	136,538
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	690
Equity Income (Loss)	(6,798)	(2,082)
Teekay Offshore [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(274,599)	(198,553)	(200,242)
Asset Impairment and Loan Loss (Provisions) Recoveries	(71,641)	(4,759)	(94,946)
Equity Income (Loss)	7,672	10,341	6,731
Teekay Offshore [Member] | Offshore Logistics [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(130,102)	(118,968)	(126,091)
Asset Impairment and Loan Loss (Provisions) Recoveries	(67,744)	(4,759)	(76,782)
Teekay Offshore [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(137,914)	(72,905)	(66,404)
Equity Income (Loss)	7,672	10,341	6,731
Teekay Offshore [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(6,583)	(6,680)	(7,747)
Asset Impairment and Loan Loss (Provisions) Recoveries	(3,897)		(18,164)
Teekay LNG [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(92,253)	(94,127)	(97,884)
Equity Income (Loss)	84,171	115,478	123,282
Teekay LNG [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(20,930)	(22,416)	(26,399)
Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(71,323)	(71,711)	(71,485)
Equity Income (Loss)	84,171	115,478	123,282
Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(71,429)	(50,152)	(47,833)
Equity Income (Loss)	14,411	5,228	854
Teekay Parent [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(71,909)	(80,072)	(85,127)
Asset Impairment and Loan Loss (Provisions) Recoveries		2,521	(73,407)
Equity Income (Loss)	3,415	(851)	5,671
Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(69,508)	(78,630)	(77,551)
Asset Impairment and Loan Loss (Provisions) Recoveries		2,521	(2,634)
Equity Income (Loss)	(12,196)	(1,357)	4,649
Teekay Parent [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	(2,852)	(2,216)	(9,882)
Asset Impairment and Loan Loss (Provisions) Recoveries			(92,699)
Equity Income (Loss)	16,712	3,052	1,291
Teekay Parent [Member] | Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and Amortization	451	774	2,306
Asset Impairment and Loan Loss (Provisions) Recoveries			21,926
Equity Income (Loss)	$ (1,101)	$ (2,546)	$ (269)

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Total Segment Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total assets	$ 13,061,248	$ 11,779,690
Segment Reconciling Items [Member] | Cash and Cash Equivalents [Member]
Segment Reporting Information [Line Items]
Total assets	678,392	806,904
Segment Reconciling Items [Member] | Other Assets [Member]
Segment Reporting Information [Line Items]
Total assets	301,586	394,341
Consolidation, Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	(145,319)	(89,552)
Teekay Offshore [Member] | Offshore Logistics [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	2,591,489	2,186,789
Teekay Offshore [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	2,717,193	1,261,569
Teekay Offshore [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	63,900	150,044
Teekay LNG [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	360,527	381,175
Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	3,550,396	3,379,279
Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	2,073,059	1,000,864
Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	710,533	2,138,445
Teekay Parent [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	142,236	138,504
Teekay Parent [Member] | Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 17,256	$ 31,328

Segment Reporting - Capital Exp

Segment Reporting - Capital Expenditures by Segment (Detail) - Operating Segments [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total capital Expenditure	$ 1,770,764	$ 1,039,733
Teekay Offshore [Member] | Offshore Logistics [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	552,219	154,896
Teekay Offshore [Member] | Offshore Production [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	120,160	17,022
Teekay Offshore [Member] | Conventional Tankers [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	97	251
Teekay LNG [Member] | Conventional Tankers [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	327	586
Teekay LNG [Member] | Liquefied Gas Carriers [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	191,642	193,669
Teekay Tankers [Member] | Conventional Tankers [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	848,250	2,063
Teekay Parent [Member] | Offshore Production [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	57,778	671,277
Teekay Parent [Member] | Conventional Tankers [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	92	(44)
Teekay Parent [Member] | Other [Member]
Segment Reporting Information [Line Items]
Total capital Expenditure	$ 199	$ 13

Investments - Teekay LNG - Bahr

Investments - Teekay LNG - Bahrain LNG Joint Venture - Additional Information (Detail) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)Vesselft³	Dec. 31, 2015USD ($)Vesselfloating_storage_unitft³
Newbuildings [Member]
Net Investment Income [Line Items]
Expected cost of project | $		$ 3,600
Teekay LNG [Member] | Modified Vessel [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member]
Net Investment Income [Line Items]
Onshore nitrogen production facility lease period	20 years
Teekay LNG [Member] | Liquefied Natural Gas [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel		9
Teekay LNG [Member] | Newbuildings [Member] | Liquefied Natural Gas [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	9
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member]
Net Investment Income [Line Items]
Partnership owns percentage in joint venture	30.00%	30.00%
Equity method investments, description of principal activities		The project will include an offshore LNG receiving jetty and breakwater, an adjacent regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility, and an onshore nitrogen production facility with a total LNG terminal capacity of 800 million standard cubic feet per day and will be owned and operated under a 20-year agreement commencing in mid-2018
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Modified Vessel [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member]
Net Investment Income [Line Items]
Number of floating storage units	1	1
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member]
Net Investment Income [Line Items]
Expected cost of project | $	$ 872	$ 872
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Lease Agreements [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member]
Net Investment Income [Line Items]
Onshore nitrogen production facility lease period		20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Lease Agreements [Member] | LNG receiving and regasification terminal [member]
Net Investment Income [Line Items]
Onshore nitrogen production facility lease period	20 years	20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Maximum [Member] | LNG receiving and regasification terminal [member]
Net Investment Income [Line Items]
Capacity of production facility, per day | ft³	800,000,000	800,000,000
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Nogaholding [Member]
Net Investment Income [Line Items]
Partnership owns percentage in joint venture	30.00%	30.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Samsung [Member]
Net Investment Income [Line Items]
Partnership owns percentage in joint venture	20.00%	20.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | GIC [Member]
Net Investment Income [Line Items]
Partnership owns percentage in joint venture	20.00%	20.00%

Investments - Teekay Tankers -

Investments - Teekay Tankers - Principal Maritime - Additional Information (Detail) shares in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2015Vessel	Dec. 31, 2015USD ($)Vesselshares
Teekay Tankers [Member] | Principal Maritime Tankers [Member] | Class A [Member]
Net Investment Income [Line Items]
Number of common stock issued | shares		7.2
Number of common shares issued, non cash consideration		$ 49,300,000
Teekay Tankers [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	12
Number of vessels acquired | Vessel		12
Aggregate purchase price		$ 661,300,000
Aggregate purchase price, cash		612,000,000
Teekay Tankers [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member] | Due January 29, 2016 [Member]
Net Investment Income [Line Items]
Loan facility, amount		$ 397,200,000
Teekay Tankers [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member] | Class A [Member]
Net Investment Income [Line Items]
Number of common stock issued | shares		13.6
Net proceeds from common stock		$ 90,600,000
Teekay Parent [Member] | Class A [Member]
Net Investment Income [Line Items]
Number of common stock issued | shares		4.5

Investments - Teekay Tankers 67

Investments - Teekay Tankers - Ship - to - Ship Transfer Business - Additional Information (Detail) $ / shares in Units, $ in Thousands, shares in Millions	Jul. 31, 2015Vessel$ / shares	Jul. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Net Investment Income [Line Items]
Amortization of intangible assets			$ 13,600	$ 13,200	$ 18,200
Joint venture ownership percentage			17.62%
Equity income			$ 102,871	$ 128,114	$ 136,538
Ship-to-Ship Transfer Business (SPT) [Member] | Teekay Tankers [Member]
Net Investment Income [Line Items]
Purchase price of acquisition		$ 47,300
Number of vessels | Vessel	6
Amortization of intangible assets			$ 1,300
Joint venture ownership percentage			50.00%
Equity income		$ 8,700
Ship-to-Ship Transfer Business (SPT) [Member] | Teekay Tankers [Member] | Class B [Member]
Net Investment Income [Line Items]
Number of common stock issued | shares		6.5	6.5
Shares issued, price per share | $ / shares	$ 6.99	$ 6.99
Ship-to-Ship Transfer Business (SPT) [Member] | Working Capital [Member] | Teekay Tankers [Member]
Net Investment Income [Line Items]
Purchase price of acquisition		$ 1,800

Investments - Summary of Prelim

Investments - Summary of Preliminary Estimates of Fair Values of SPT Assets Acquired and Liabilities Assumed (Detail) - Teekay Tankers [Member] - Ship-to-Ship Transfer Business (SPT) [Member] $ in Thousands	Jul. 31, 2015USD ($)
Business Acquisition [Line Items]
Cash, cash equivalents and short-term restricted cash	$ 1,292
Accounts receivable	10,332
Prepaid expenses and other current assets	3,763
Vessels and equipment	6,475
Other assets	143
Intangible assets subject to amortization
Customer relationships	30,879
Total assets acquired	52,884
Accounts payable	(3,650)
Accrued liabilities	(3,276)
Total liabilities assumed	(6,926)
Net assets acquired	$ 45,958

Investments - Summary of Prel69

Investments - Summary of Preliminary Estimates of Fair Values of SPT Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) $ in Millions	1 Months Ended
	Dec. 31, 2015USD ($)
Settlement of Preexisting Obligation [Member] | Ship-to-Ship Transfer Business (SPT) [Member]
Business Acquisition [Line Items]
Purchase price of acquisition	$ 1.4

Investments - Teekay Offshore -

Investments - Teekay Offshore - Logitel Offshore Holding AS- Additional Information (Detail)	Aug. 11, 2014USD ($)MaintenanceAndSafety	Jun. 30, 2015	Aug. 31, 2014USD ($)MaintenanceAndSafety	Aug. 11, 2014USD ($)	Jun. 30, 2015	Dec. 31, 2015USD ($)MaintenanceAndSafety
Newbuildings [Member]
Net Investment Income [Line Items]
Expected cost of project						$ 3,600,000,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member]
Net Investment Income [Line Items]
Percentage of ownership acquired	100.00%			100.00%
Portion of purchase price paid in cash	$ 4,000,000			$ 4,000,000
Potential additional cash amount	$ 27,600,000			$ 27,600,000
Expected cost of project			$ 596,000,000
Partnership interest on unpaid balance		5.00%			5.00%
Debt conversion, description						If the fourth of six options with COSCO is not exercised by its option expiry date on November 30, 2016, Sevan has a one-time option to receive the remaining two options with COSCO.
Non-interest bearing amount on bond repaid						$ 10,000,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Newbuildings [Member]
Net Investment Income [Line Items]
Number of Units for Maintenance and Safety | MaintenanceAndSafety						2
Assumption of obligations			$ 30,000,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Newbuildings [Member] | Cancellation Potential [Member] | Deferment Potential [Member]
Net Investment Income [Line Items]
Number of Units for Maintenance and Safety | MaintenanceAndSafety			2
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Newbuildings [Member] | Maximum [Member] | Units for Maintenance and Safety [Member]
Net Investment Income [Line Items]
Delivery option exercise period			1 year
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Scheduled For Delivery [Member]
Net Investment Income [Line Items]
Number of Units for Maintenance and Safety | MaintenanceAndSafety	3
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Delivered [Member]
Net Investment Income [Line Items]
Operating lease arrangement period, lessor		3 years
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Units for Maintenance and Safety [Member]
Net Investment Income [Line Items]
Delivery option exercise period					120 days
Delivery Option exercised additional period					2 years
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Order or Production Backlog [Member]
Net Investment Income [Line Items]
Repayment of non-interest bearing amount on bond			$ 30,000,000
Debt, repayment terms						Within six months of delivery of each of the three UMS ordered from COSCO
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Order or Production Backlog [Member] | Newbuildings [Member]
Net Investment Income [Line Items]
Repayment of non-interest bearing amount on bond			10,000,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Additional Order Or Production Backlog [Member] | Newbuildings [Member] | Maximum [Member]
Net Investment Income [Line Items]
Repayment of non-interest bearing amount on bond			$ 11,900,000

Investments - Acquisition of Lo

Investments - Acquisition of Logitel Offshore Holding AS - Summary of Preliminary and Final Fair Values of Assets Acquired and Liabilities Assumed (Detail) - Logitel Offshore Holdings [Member] - Teekay Offshore [Member] $ in Thousands	Aug. 11, 2014USD ($)	Aug. 11, 2014USD ($)
ASSETS
Cash and cash equivalents	$ 8,089	$ 8,089
Prepaid expenses	640	640
Advances on newbuilding contracts	44,570	44,570
Intangible assets	1,000	1,000
Total assets acquired	54,299	54,299
LIABILITIES
Accrued liabilities	4,098	4,098
Long-term debt	27,600	27,600
Total liabilities assumed	31,698	31,698
Net assets acquired	22,601	22,601
Cash consideration	4,000	4,000
Contingent consideration	18,601	18,601
Scenario, Previously Reported [Member]
ASSETS
Cash and cash equivalents	8,089	8,089
Prepaid expenses	640	640
Advances on newbuilding contracts	46,809	46,809
Total assets acquired	55,538	55,538
LIABILITIES
Accrued liabilities	4,098	4,098
Long-term debt	26,270	26,270
Total liabilities assumed	30,368	30,368
Net assets acquired	25,170	25,170
Cash consideration	4,000
Contingent consideration	21,170	21,170
Scenario, Adjustment [Member]
ASSETS
Advances on newbuilding contracts	(2,239)	(2,239)
Intangible assets	1,000	1,000
Total assets acquired	(1,239)	(1,239)
LIABILITIES
Long-term debt	1,330	1,330
Total liabilities assumed	1,330	1,330
Net assets acquired	(2,569)	(2,569)
Contingent consideration	$ (2,569)	$ (2,569)

Investments - Teekay LNG-Yamal

Investments - Teekay LNG-Yamal LNG Joint Venture - Additional Information (Detail) $ in Thousands, t in Millions	1 Months Ended	12 Months Ended
	Jul. 31, 2014USD ($)TrainsVesselmtm³	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Net Investment Income [Line Items]
Equity method investment, ownership interest		17.62%
Advances to equity accounted joint venture partner		$ 905,159	$ 873,421
Newbuildings [Member]
Net Investment Income [Line Items]
Fully built-up cost		$ 3,600,000
Teekay LNG [Member] | Yamal LNG Joint Venture [Member]
Net Investment Income [Line Items]
Equity method investment, ownership interest	50.00%	50.00%
Number of LNG trains | Trains	3
Expected capacity of trains | t	16.5
Maximum icebreaking capabilities in meters | m	2.1
Advances to equity accounted joint venture partner		$ 96,900	$ 95,300
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | Newbuildings [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	6
Volume of vessels | m³	172,000
Fully built-up cost	$ 2,100,000
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | China LNG [Member]
Net Investment Income [Line Items]
Equity method investment, ownership interest	50.00%
Teekay LNG [Member] | Yamal LNG Project [Member] | Russia-based Novatek OAO [Member]
Net Investment Income [Line Items]
Partnership owns percentage in joint venture	60.00%
Teekay LNG [Member] | Yamal LNG Project [Member] | France-based Total S.A. [Member]
Net Investment Income [Line Items]
Ownership percentage	20.00%
Teekay LNG [Member] | Yamal LNG Project [Member] | China-based China National Petroleum Corporation [Member]
Net Investment Income [Line Items]
Ownership percentage	20.00%

Investments - Teekay LNG - BG I

Investments - Teekay LNG - BG International Limited Joint Venture - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2014USD ($)Vesselm³	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)Vessel
Net Investment Income [Line Items]
Value of service obligation		$ 118,690	$ 149,998
Equity method investment, ownership interest		17.62%
Newbuildings [Member]
Net Investment Income [Line Items]
Expected cost of project		$ 3,600,000
Teekay LNG [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Net Investment Income [Line Items]
Value of service obligation		$ 29,700	$ 33,700
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	4		4
Volume of vessels | m³	174,000
Expected cost of project	$ 1,000,000
Operating lease arrangement period, lessor	20 years
Value of service obligation	$ 33,300
Amounts due	16,500		$ 17,100
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member] | Fair Value Asset (Liability) [Member]
Net Investment Income [Line Items]
Value of service obligation	38,700
Amounts due	16,500
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member] | Principal Amount [Member]
Net Investment Income [Line Items]
Amounts due	$ 20,300		$ 20,300
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member] | 30% Ownership [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	2
Equity method investment, ownership interest	30.00%
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member] | 20% Ownership [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	2
Equity method investment, ownership interest	20.00%

Investments - Teekay Offshore74

Investments - Teekay Offshore - ALP Maritime Services B.V. - Additional Information (Detail) $ in Thousands	Mar. 14, 2014USD ($)StockholdersVessel	Mar. 31, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Newbuildings [Member]
Net Investment Income [Line Items]
Expected cost of project				$ 3,600,000
ALP Maritime Services B.V [Member] | Contingent Consideration On Operating Results [Member]
Net Investment Income [Line Items]
General and administrative				$ 700	$ 500
Teekay Offshore [Member] | ALP Maritime Services B.V [Member]
Net Investment Income [Line Items]
Percentage of ownership acquired	100.00%	100.00%	100.00%
Expected cost of project		$ 232,000
Purchase price paid in cash	$ 2,616
Business Combination, Contingent Consideration Arrangements, Description				Teekay Offshore has the option to pay up to 50% of this compensation through the issuance of common units of Teekay Offshore. Each of the contingent compensation amounts are payable only if the three former shareholders are employed by ALP at the time the performance conditions are met.
Acquisition and business development fee			$ 1,000
Teekay Offshore [Member] | ALP Maritime Services B.V [Member] | Shareholders of ALP [Member]
Net Investment Income [Line Items]
Number of shareholders | Stockholders	3
Teekay Offshore [Member] | ALP Maritime Services B.V [Member] | Delivered [Member] | Shareholders of ALP [Member]
Net Investment Income [Line Items]
Contingent consideration payable	$ 2,400
Teekay Offshore [Member] | ALP Maritime Services B.V [Member] | Contingent Consideration On Operating Results [Member] | Shareholders of ALP [Member]
Net Investment Income [Line Items]
Contingent consideration payable	$ 2,600
Teekay Offshore [Member] | ALP Maritime Services B.V [Member] | Newbuildings [Member] | Long Distance Towing and Offshore Installation [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	4

Investments - Teekay Offshore A

Investments - Teekay Offshore Acquisition of ALP Maritime Services B.V. - Summary of Preliminary and Finalized Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 14, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Goodwill		$ 168,571	$ 168,571	$ 166,539
Teekay Offshore [Member] | ALP Maritime Services B.V [Member]
ASSETS
Cash and cash equivalents	$ 294
Other current assets	404
Advances on newbuilding contracts	164
Other assets - long-term	395
Goodwill	2,032
Total assets acquired	3,289
LIABILITIES
Current liabilities	387
Other long-term liabilities	286
Total liabilities assumed	673
Net assets acquired	2,616
Aggregate purchase price, cash	$ 2,616

Investments - Tanker Investment

Investments - Tanker Investments Ltd - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Net Investment Income [Line Items]
Derivatives not designated as a cash flow hedge		$ 17,844	$ 14,415
Preferred stock, share issued		0	0
Percentage of combined ownership interest		17.62%
Tanker Investments Limited [Member]
Net Investment Income [Line Items]
Preferred stock, voting rights		Elect one board member
Tanker Investments Limited [Member] | Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Net Investment Income [Line Items]
Derivatives not designated as a cash flow hedge		$ 10,300
Tanker Investments Limited [Member] | Series A- One Preferred Stock [Member]
Net Investment Income [Line Items]
Preferred stock, share issued	1
Tanker Investments Limited [Member] | Series A- Two Preferred Stock [Member]
Net Investment Income [Line Items]
Preferred stock, share issued	1
Teekay Tankers [Member] | Tanker Investments Limited [Member]
Net Investment Income [Line Items]
Percentage of combined ownership interest	20.00%
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Warrant [Member] | Maximum [Member]
Net Investment Income [Line Items]
Number of shares available through exercise of stock purchase warrant	1,500,000

Investment in Term Loans - Addi

Investment in Term Loans - Additional information (Detail) $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended
	May. 31, 2014USD ($)Vessel	Mar. 31, 2014USD ($)Vessel	Feb. 28, 2011USD ($)	Jul. 31, 2010USD ($)Term_loan	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)Vessel	Dec. 31, 2013USD ($)
Net Investment Income [Line Items]
Term loan			$ 70,000
Interest rate on term loan			9.00%
Interest income from loans								$ 11,200
Gain (loss) on sale of assets						$ 1,466	$ 13,509	$ 1,995
VLCC [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel		3					3
Estimated aggregate fair value of vessels		$ 222,000			$ 222,000
Interest income recognized					15,200
Interest income from loans		$ 11,200			$ 11,200
Teekay Tankers [Member]
Net Investment Income [Line Items]
Term loan				$ 115,600
Interest rate on term loan				9.00%
Acquired term loans | Term_loan				2
Principal amount outstanding of term loan				$ 115,000
Investment yield				10.00%
Investment, Interest Rate Reflects Current Yield Flag				true
Debt instrument collateral, description						The TNK Loans were collateralized by first-priority mortgages on two 2010-built VLCCs, together with other related security.
Teekay Tankers [Member] | VLCC [Member]
Net Investment Income [Line Items]
Gain (loss) on sale of assets							$ 10,000
Aggregate proceeds received	$ 154,000
Teekay Tankers [Member] | Sold Asset [Member]
Net Investment Income [Line Items]
Number of vessels | Vessel	2

Equity Financing Transactions -

Equity Financing Transactions - Summary of Proceeds Received from Financial Transactions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsidiary, Sale of Stock [Line Items]
Net Proceeds Received	$ 575,368	$ 452,061	$ 446,893
Teekay Offshore [Member] | Preferred B Units Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	125,000
Offering Expenses	(4,210)
Net Proceeds Received	120,790
Teekay Offshore [Member] | Preferred C Units Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	250,000
Offering Expenses	(250)
Net Proceeds Received	249,750
Teekay Offshore [Member] | Continuous Offering Program [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	3,551	7,784	2,819
Less: Teekay Corporation Portion	(71)	(156)	(59)
Offering Expenses	(66)	(153)	(449)
Net Proceeds Received	3,414	7,475	2,311
Teekay Offshore [Member] | Direct/Private Equity Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received		178,569	115,688
Less: Teekay Corporation Portion		(3,571)	(2,314)
Offering Expenses		(75)	(188)
Net Proceeds Received		174,923	113,186
Teekay Offshore [Member] | Preferred Units Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received			150,000
Offering Expenses			(5,200)
Net Proceeds Received			144,800
Teekay LNG [Member] | Continuous Offering Program [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	36,274	42,556	5,383
Less: Teekay Corporation Portion	(725)	(851)	(107)
Offering Expenses	(900)	(901)	(457)
Net Proceeds Received	34,649	40,804	4,819
Teekay LNG [Member] | Public Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received		140,784	150,040
Less: Teekay Corporation Portion		(2,816)	(3,001)
Offering Expenses		(299)	(5,222)
Net Proceeds Received		137,669	141,817
Teekay LNG [Member] | Direct/Private Equity Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received			40,816
Less: Teekay Corporation Portion			(816)
Offering Expenses			(40)
Net Proceeds Received			$ 39,960
Teekay Tankers [Member] | Continuous Offering Program [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	94,595
Offering Expenses	(2,155)
Net Proceeds Received	92,440
Teekay Tankers [Member] | Public Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	13,716	116,000
Less: Teekay Corporation Portion		(20,000)
Offering Expenses	(31)	(4,810)
Net Proceeds Received	13,685	$ 91,190
Teekay Tankers [Member] | Direct/Private Equity Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Total Proceeds Received	109,907
Net Proceeds Received	$ 109,907

Equity Financing Transactions79

Equity Financing Transactions - Additional Information (Detail) $ / shares in Units, $ in Thousands, shares in Millions	Jul. 31, 2015USD ($)Vessel	Aug. 01, 2014USD ($)Pools	May. 02, 2013USD ($)	Jul. 31, 2015USD ($)shares	Aug. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2015USD ($)Vesselshares	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Subsidiary or Equity Method Investee [Line Items]
Increase in carrying amount of non-controlling interest						$ 535,784	$ 412,792	$ 301,559
Amount increases (decreases) to retained earnings						(152,729)	68,428	36,703
TOTAL EQUITY Retained Earnings [Member]
Subsidiary or Equity Method Investee [Line Items]
Amount increases (decreases) to retained earnings						(152,729)	$ 68,428	$ 36,703
Teekay Tankers [Member]
Subsidiary or Equity Method Investee [Line Items]
Increase in carrying amount of non-controlling interest						$ 168,100
Teekay Tankers [Member] | Ship-to-Ship Transfer Business (SPT) [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of vessels | Vessel	6
Value of the assets acquired, including working capital	$ 45,958			$ 45,958
Business acquisition, purchase price				47,300
Value of the assets acquired, including working capital	$ 52,884			$ 52,884
Teekay Tankers [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of vessels | Vessel						12
Teekay Tankers [Member] | Class A [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member]
Subsidiary or Equity Method Investee [Line Items]
Purchase of subsidiary common stock						$ 30,000
Teekay Tankers [Member] | Class B [Member] | Ship-to-Ship Transfer Business (SPT) [Member]
Subsidiary or Equity Method Investee [Line Items]
Purchase of subsidiary common stock						$ 45,500
Number of common stock issued | shares				6.5		6.5
Teekay Tankers [Member] | TOTAL EQUITY Retained Earnings [Member]
Subsidiary or Equity Method Investee [Line Items]
Decrease in retained earnings						$ (168,100)
Teekay Tankers [Member] | Teekay Tanker Operations Ltd [Member]
Subsidiary or Equity Method Investee [Line Items]
Percentage of ownership acquired		50.00%
Commercially managed tanker pools | Pools		3
Value of the assets acquired, including working capital		$ 23,500
Value of the assets acquired, including working capital					$ 16,900
Teekay Tankers [Member] | Teekay Tanker Operations Ltd [Member] | Reimbursed Working Capital [Member]
Subsidiary or Equity Method Investee [Line Items]
Business acquisition, purchase price					$ 6,500
Teekay Tankers [Member] | Teekay Tanker Operations Ltd [Member] | Class B [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of common shares issued for acquisition | shares					4.2
Value of common shares issued for acquisition					$ 17,000
Common share price per share, acquisition closing date | $ / shares					$ 4.03
Teekay Tankers [Member] | Teekay Tanker Operations Ltd [Member] | Initial [Member] | Class B [Member]
Subsidiary or Equity Method Investee [Line Items]
Value of common shares issued for acquisition					$ 15,600
Common share price per share, acquisition closing date | $ / shares					$ 3.70
Teekay Parent [Member] | Class A [Member] | Suezmax Tankers [Member] | Principal Maritime Tankers [Member]
Subsidiary or Equity Method Investee [Line Items]
Number of common stock issued | shares						4.5
Teekay Offshore [Member]
Subsidiary or Equity Method Investee [Line Items]
Increase in carrying amount of non-controlling interest						$ 168,100
Teekay Offshore [Member] | Voyageur Spirit [Member]
Subsidiary or Equity Method Investee [Line Items]
Business acquisition, debt assumed			$ 230,000
Business acquisition, cash paid			$ 253,000
Interest of Company's general partner			2.00%
Business acquisition, value of common units			$ 44,300
Business acquisition, fair value of common units			40,000
Teekay Offshore [Member] | Common Stock [Member] | Petrojarl Knarr FPSO [Member] | Fair Value Asset (Liability) [Member]
Subsidiary or Equity Method Investee [Line Items]
Purchase of subsidiary common stock						$ 300,000
Number of common stock issued | shares						14.4
Teekay Offshore [Member] | TOTAL EQUITY Retained Earnings [Member]
Subsidiary or Equity Method Investee [Line Items]
Decrease in retained earnings						$ (168,100)
Teekay Offshore [Member] | Initial [Member] | Voyageur Spirit [Member]
Subsidiary or Equity Method Investee [Line Items]
Business acquisition, purchase price			$ 540,000

Goodwill, Intangible Assets a80

Goodwill, Intangible Assets and In-Process Revenue Contracts - Carrying Amount of Goodwill for Company's Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill, Beginning balance	$ 168,571	$ 166,539
Goodwill acquired		2,032
Goodwill, Ending balance	$ 168,571	168,571
Offshore Logistics [Member] | Teekay Offshore [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	$ 132,940	130,908
Goodwill acquired		2,032
Goodwill, Ending balance	$ 132,940	132,940
Liquefied Gas Segment [Member] | Teekay LNG [Member]
Goodwill [Line Items]
Goodwill, Beginning balance	$ 35,631	35,631
Goodwill acquired
Goodwill, Ending balance	$ 35,631	$ 35,631

Goodwill, Intangible Assets a81

Goodwill, Intangible Assets and In-Process Revenue Contracts - Additional Information (Detail) $ in Thousands	Jul. 31, 2015USD ($)Vessel	Jul. 31, 2015USD ($)	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Mar. 31, 2014	Mar. 14, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 348,563	$ 317,684
Amortization expense			13,600	13,200	$ 18,200
Amortization of intangible assets, 2016			15,100
Amortization of intangible assets, 2017			12,800
Amortization of intangible assets, 2018			11,800
Amortization of intangible assets, 2019			11,800
Amortization of intangible assets, 2020			11,800
Amortization of intangible assets, thereafter			48,600
Amortization of in-process revenue			(30,085)	(40,939)	(61,700)
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 30,879
ALP Maritime Services B.V [Member] | Teekay Offshore [Member]
Finite-Lived Intangible Assets [Line Items]
Percentage of ownership acquired						100.00%	100.00%
BG Joint Venture [Member] | Teekay LNG [Member] | Shipbuilding supervision and crew training services [Member] | Newbuildings [Member]
Finite-Lived Intangible Assets [Line Items]
Number of vessels | Vessel			4
Teekay Petrojarl and Omi Corporation [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization of in-process revenue			$ 30,100	$ 40,900	$ 61,700
Amortization of in-process revenue contracts, 2016			32,100
Amortization of in-process revenue contracts, 2017			30,700
Amortization of in-process revenue contracts, 2018			22,500
Amortization of in-process revenue contracts, 2019			14,300
Amortization of in-process revenue contracts, 2020			13,800
Amortization of in-process revenue contracts, thereafter			37,400
Ship-to-Ship Transfer Business (SPT) [Member] | Teekay Tankers [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense			1,300
Number of vessels | Vessel	6
Ship-to-Ship Transfer Business (SPT) [Member] | Teekay Tankers [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 30,900	$ 30,900
Amortization period		10 years
Amortization expense			$ 1,300

Goodwill, Intangible Assets a82

Goodwill, Intangible Assets and In-Process Revenue Contracts - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 348,563	$ 317,684
Accumulated Amortization	(236,654)	(223,018)
Net Carrying Amount	111,909	94,666
Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	316,684	316,684
Accumulated Amortization	(234,894)	(223,018)
Net Carrying Amount	81,790	93,666
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	30,879
Accumulated Amortization	(1,260)
Net Carrying Amount	29,619
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,000	1,000
Accumulated Amortization	(500)
Net Carrying Amount	$ 500	$ 1,000

Accrued Liabilities and Other83

Accrued Liabilities and Other Long-Term Liabilities - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Liabilities, Current [Abstract]
Voyage and vessel expenses	$ 168,120	$ 163,155
Interest	66,110	60,064
Payroll and benefits and other	88,239	100,606
Deferred revenue - current	76,883	66,027
Loan from affiliates	12,426	4,907
Liabilities associated with assets held for sale	500
Accrued Liabilities	$ 412,278	$ 394,759

Accrued Liabilities and Other84

Accrued Liabilities and Other Long-Term Liabilities - Schedule of Other Long-Term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities, Noncurrent [Abstract]
Deferred revenues and gains	$ 248,984	$ 253,639
Guarantee liability	26,467	24,880
Asset retirement obligation	25,484	25,006
Pension liabilities	14,953	31,365
Contingent consideration liability	6,225	18,969
Unrecognized tax benefits and deferred income tax	21,967	21,779
Other	8,298	7,451
Other Long-Term Liabilities	$ 352,378	$ 383,089

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) $ in Thousands, € in Millions	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)
Debt Instrument [Line Items]
Total	$ 7,480,374		$ 6,741,625
Unamortized discount and debt issuance costs	(96,288)		(89,649)
Total	7,384,086		6,651,976
Long-term portion	6,277,982		5,999,331
Less current portion	(1,106,104)		(652,645)
Total	7,384,086		6,651,976
Senior Notes (8.5%) due January 15, 2020 [Member]
Debt Instrument [Line Items]
Total	592,657		392,657
Norwegian Kroner-denominated Bonds Due Through May 2020 [Member]
Debt Instrument [Line Items]
Total	621,957		697,798
U.S. Dollar-denominated Term Loans Due Through 2028 [Member]
Debt Instrument [Line Items]
Total	4,020,665		3,103,255
U.S. Dollar Bonds Due Through 2024 [Member]
Debt Instrument [Line Items]
Total	502,449		496,098
Euro-denominated Term Loans Due Through 2023 [Member]
Debt Instrument [Line Items]
Total	241,798	€ 222.7	284,993	€ 235.6
Revolving Credit Facilities [Member]
Debt Instrument [Line Items]
Total	$ 1,500,848		$ 1,766,824

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information - Revolvers (Detail) shares in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Term_loanshares	Dec. 31, 2014
Teekay Tankers [Member]
Debt Instrument [Line Items]
Debt instrument collateral, description	The TNK Loans were collateralized by first-priority mortgages on two 2010-built VLCCs, together with other related security.
Revolving Credit Facilities [Member]
Debt Instrument [Line Items]
Number of credit facilities | Term_loan	12
Credit facility, maximum borrowing capacity	$ 1,700,000,000
Undrawn amount of revolving credit facility	$ 200,000,000
Reference rate on variable rate of the debt instrument	LIBOR
Available capacity reduced under revolving credit facility in 2016	$ 662,700,000
Available capacity reduced under revolving credit facility in 2017	512,600,000
Available capacity reduced under revolving credit facility in 2018	460,500,000
Available capacity reduced under revolving credit facility in 2019	$ 47,400,000
Debt instrument collateral, description	The Revolvers are collateralized by first-priority mortgages granted on 44 of the Company's vessels, together with other related security, and include a guarantee from Teekay or its subsidiaries for all outstanding amounts.
Revolving Credit Facilities [Member] | Secured debt [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 300,000,000
Undrawn amount of revolving credit facility	13,500,000
Line of credit facility decrease in equity margin	(200,000,000)
Credit facility, maximum borrowing capacity	28,200,000
Current borrowing capacity	$ 41,700,000
Revolving Credit Facilities [Member] | Three-month LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	0.61%	0.26%
Revolving Credit Facilities [Member] | Teekay Offshore [Member] | Securities Pledged as Collateral [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages | shares	38.2
Revolving Credit Facilities [Member] | Teekay LNG [Member] | Securities Pledged as Collateral [Member] | Common Stock [Member]
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages | shares	25.2
Revolving Credit Facilities [Member] | Teekay Tankers [Member] | Securities Pledged as Collateral [Member] | Class A [Member]
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages | shares	16.8
Revolving Credit Facilities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	0.45%	0.45%
Revolving Credit Facilities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	3.95%	3.95%

Long-Term Debt - Additional I87

Long-Term Debt - Additional Information - Senior unsecured notes (Detail) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2015	Jan. 31, 2010	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Premium on bond repurchases				$ (7,699)	$ (1,759)
Senior Notes (8.5%) due January 15, 2020 [Member]
Debt Instrument [Line Items]
Fixed interest rate on the portion of U. S. Dollar-denominated term loans outstanding	8.50%		8.50%
Debt instrument, principal amount	$ 200,000		$ 450,000
Percentage over par at which notes sold	99.01%	99.181%
Effective interest rate			8.67%
Capitalized cost included in long term debt			$ 13,300
Unamortized balance of the capitalized issuance cost			$ 7,400
Debt instrument, redemption price as percentage of principal amount			100.00%
Discount rate for redemption feature			0.50%
Repurchased principal amount			$ 57,300
Premium on bond repurchases			$ 7,700

Long-Term Debt - Additional I88

Long-Term Debt - Additional Information - NOK Bonds (Detail) - Nibor Loan [Member] NOK in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015NOK	Oct. 31, 2015NOK	May. 31, 2015NOK	Dec. 31, 2014NOK
Teekay Offshore, Teekay LNG and Teekay [Member] | Norwegian Kroner Denominated Bonds Due Through January Two Thousand NIneteen [Member]
Debt Instrument [Line Items]
Senior unsecured bonds issued | NOK		NOK 4,500			NOK 5,200
Teekay Offshore, Teekay LNG and Teekay [Member] | Norwegian Kroner Denominated Bonds Due October Two Thousand Fifteen [Member]
Debt Instrument [Line Items]
Senior unsecured bonds issued | NOK			NOK 700
Teekay Offshore, Teekay LNG and Teekay [Member] | Norwegian Kroner Denominated Bonds Due Through Two Thousand NIneteen [Member]
Debt Instrument [Line Items]
Debt instrument, carrying amount	$ 508,900,000
Debt instrument transfer of principal amount	$ 771,800,000
Teekay Offshore, Teekay LNG and Teekay [Member] | Norwegian Kroner Denominated Bonds Due Through Two Thousand NIneteen [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	4.00%
Fixed interest rates based on cross currency swaps	4.94%	4.94%
Teekay Offshore, Teekay LNG and Teekay [Member] | Norwegian Kroner Denominated Bonds Due Through Two Thousand NIneteen [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	5.75%
Fixed interest rates based on cross currency swaps	7.49%	7.49%
Teekay LNG [Member] | Norwegian Kroner Bond Due In May Two Thousand Twenty [Member]
Debt Instrument [Line Items]
Senior unsecured bonds issued | NOK				NOK 1,000
Debt instrument, carrying amount	$ 113,100,000
Debt instrument spread on variable rate	3.70%
Fixed interest rates based on cross currency swaps	5.92%	5.92%
Debt instrument transfer of principal amount	$ 134,000,000

Long-Term Debt - Additional I89

Long-Term Debt - Additional Information - USD Term Loans (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Term_loanVessel	Dec. 31, 2014USD ($)Vessel
Debt Instrument [Line Items]
Carrying amount of long-term debt	$ 7,480,374	$ 6,741,625
Interest at a weighted-average fixed rate	3.40%	3.20%
Secured debt [Member]
Debt Instrument [Line Items]
Number of debt instruments | Term_loan	26
Carrying amount of long-term debt	$ 4,000,000	$ 3,100,000
Number of term loans which have balloon or bullet repayments | Term_loan	23
Number of vessels | Vessel	67	34
Outstanding term loans not guaranteed by Teekay or its subsidiaries	$ 64,600	$ 79,300
Frequency of periodic payments	Quarterly or semi-annual payments commencing three or six months after delivery of each newbuilding vessel financed thereby,
Secured debt [Member] | Certain Term Loans [Member]
Debt Instrument [Line Items]
Carrying amount of long-term debt	$ 48,600	$ 37,800
Interest at a weighted-average fixed rate	4.00%	4.80%
Secured debt [Member] | Remaining Term Loans [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate terms	LIBOR plus a margin
Secured debt [Member] | Remaining Term Loans [Member] | Three-month LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	0.61%	0.26%
Secured debt [Member] | Remaining Term Loans [Member] | Three-month LIBOR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	0.30%	0.30%
Secured debt [Member] | Remaining Term Loans [Member] | Three-month LIBOR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	3.25%	3.25%
Secured debt [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument collateral, description	The term loans are collateralized by first-priority mortgages on 67 (December 31, 2014 - 34) of the Company's vessels, together with certain other security.

Long-Term Debt - Additional I90

Long-Term Debt - Additional Information - Senior unsecured bonds (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	May. 31, 2014	Nov. 30, 2013	Sep. 30, 2013
Debt Instrument [Line Items]
Carrying amount of long-term debt	$ 7,480,374,000		$ 6,741,625,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Guaranteed By Partnership And Subsidiaries [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	20,000,000
Debt instrument, carrying amount	$ 18,800,000
Teekay Offshore [Member] | Senior Unsecured Bonds Mature in June 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 30,000,000
Debt instrument interest rate	4.27%
Debt instrument collateral, description	The bonds are collateralized by a first-priority mortgage on the Dampier Spirit FSO unit to which the bonds relate, together with other related security and are guaranteed by two subsidiaries of Teekay Offshore.
Carrying amount of long-term debt	$ 27,100,000
Teekay Offshore [Member] | Five-year senior unsecured bonds [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount				$ 300,000,000
Debt instrument, carrying amount	$ 300,000,000
Debt instrument interest rate				6.00%
Teekay Offshore [Member] | Ten-year senior unsecured bonds [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount					$ 174,200,000	$ 174,200,000
Debt instrument interest rate					4.96%	4.96%
Debt instrument collateral, description	The bonds are collateralized by first-priority mortgages on the two vessels to which the bonds relate, together with other related security.
Debt instrument, carrying amount	$ 155,300,000
Frequency of periodic payments	Semi-annual repayments

Long-Term Debt - Additional I91

Long-Term Debt - Additional Information - Term Loans (Detail) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Term_loan	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2014EUR (€)
Debt Instrument [Line Items]
Carrying amount of long-term debt	$ 7,480,374	$ 6,741,625
Unrealized foreign exchange gain (loss)	$ (2,195)	13,431	$ (13,304)
Euro-denominated Term Loans Due Through 2023 [Member]
Debt Instrument [Line Items]
Number of debt instruments | Term_loan	2
Reference rate on variable rate of the debt instrument	EURIBOR
Carrying amount of long-term debt	$ 241,798	$ 284,993		€ 222.7	€ 235.6
Debt instrument collateral, description	Collateralized by first-priority mortgages on two of Teekay LNG's vessels, together with certain other security, and are guaranteed by Teekay LNG and one of its subsidiaries.
Euro-denominated Term Loans Due Through 2023 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	0.60%	0.60%
Euro-denominated Term Loans Due Through 2023 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument spread on variable rate	2.25%	2.25%
Euro-denominated Term Loans Due Through 2023 [Member] | One-month EURIBOR [Member]
Debt Instrument [Line Items]
Debt instrument interest rate	(0.21%)	0.02%		(0.21%)	0.02%

Long-Term Debt - Additional I92

Long-Term Debt - Additional Information - Other (Detail)	1 Months Ended	12 Months Ended
	Jan. 31, 2016USD ($)Bridge_Loan	Dec. 31, 2015USD ($)SecurityLoan	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Interest at a weighted-average fixed rate		3.40%	3.20%
Long term debt principal repayments in 2016		$ 1,100,000,000
Long term debt principal repayments in 2017		1,100,000,000
Long term debt principal repayments in 2018		1,600,000,000
Long term debt principal repayments in 2019		900,000,000
Long term debt principal repayments in 2020		1,100,000,000
Long term debt principal repayments thereafter		$ 1,700,000,000
Number of loan agreement | SecurityLoan		11
Minimum level of free cash be maintained as per loan agreements		$ 100,000,000	$ 100,000,000
Amount of free liquidity and undrawn revolving credit line		$ 410,500,000	$ 368,100,000
Teekay Tankers [Member] | Due January 2021 [Member] | Subsequent Events [Member] | Revolving Credit Facilities [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Secured long-term debt facility	$ 894,400,000
Teekay Tankers [Member] | Due January 2016 [Member] | Subsequent Events [Member] | Secured debt [Member]
Debt Instrument [Line Items]
Number of bridge facilities | Bridge_Loan	2
Teekay Tankers [Member] | Due January 2016 [Member] | Bridge Loan [Member] | Subsequent Events [Member] | Secured debt [Member]
Debt Instrument [Line Items]
Repayments of short-term debt	$ 845,800,000
Minimum [Member]
Debt Instrument [Line Items]
Vessel market value to loan ratio		126.50%
Vessel market value to loan minimum required ratio		105.00%
Free liquidity and undrawn revolving credit line as percentage of debt		5.00%
Revolving credit lines maturity period		6 months
Maximum [Member]
Debt Instrument [Line Items]
Vessel market value to loan ratio		1076.80%
Vessel market value to loan minimum required ratio		135.00%
Free liquidity and undrawn revolving credit line as percentage of debt		7.50%

Operating and Direct Financin93

Operating and Direct Financing Leases - Charters-in - Additional Information (Detail) - In-Chartered [Member] $ in Millions	Dec. 31, 2015USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Minimum commitments to be incurred by the company	$ 185.5
Minimum commitments to be incurred by the company in current year	106.8
Minimum commitments to be incurred by the company in second year	52.1
Minimum commitments to be incurred by the company in third year	8.7
Minimum commitments to be incurred by the company in fourth year	8.3
Minimum commitments to be incurred by the company in fifth year	8.3
Minimum commitments to be incurred by the company thereafter	$ 1.3

Operating and Direct Financin94

Operating and Direct Financing Leases - Charters-out - Additional Information (Detail) - USD ($) $ in Billions	Dec. 31, 2015	Dec. 31, 2014
Property Subject to or Available for Operating Lease [Line Items]
Carrying amount of the vessels accounted for as operating leases	$ 7.1	$ 6.8
Cost of the vessels	9.6	8.9
Accumulated depreciation of the vessels	2.5	$ 2.1
Charters-out [Member]
Property Subject to or Available for Operating Lease [Line Items]
Minimum scheduled future revenues to be received by the company	9.2
Minimum scheduled future revenues to be received by the company in current year	1.5
Minimum scheduled future revenues to be received by the company in second year	1.4
Minimum scheduled future revenues to be received by the company in third year	1.3
Minimum scheduled future revenues to be received by the company in fourth year	1.2
Minimum scheduled future revenues to be received by the company in fifth year	1.1
Minimum scheduled future revenues to be received by the company thereafter	$ 2.7

Operating and Direct Financin95

Operating and Direct Financing Leases - Operating Lease Obligations - Additional Information (Detail) - Teekay Tangguh Joint Venture [Member] $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels | Vessel	2
Tax indemnification | $	$ 8	$ 8.4
Tax indemnification of lease contracts	The tax indemnification is for the duration of the lease contract with the third party plus the years it would take for the lease payments to be statute barred, and ends in 2033.
Operating lease arrangement period	20 year
Operating lease arrangement period	20 year

Operating and Direct Financin96

Operating and Direct Financing Leases - Schedule of Estimated Future Minimum Rental Payments to be Received and Paid Under Lease Contracts (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Head Lease Receipts [Member]
Operating Leased Assets [Line Items]
2,016	$ 21,242
2,017	21,242
2,018	21,242
2,019	21,242
2,020	21,242
Thereafter	175,337
Total	281,547
Sublease Payments [Member]
Operating Leased Assets [Line Items]
2,016	24,113
2,017	24,113
2,018	24,113
2,019	24,113
2,020	24,113
Thereafter	199,072
Total	$ 319,637

Operating and Direct Financin97

Operating and Direct Financing Leases - Schedule of Estimated Future Minimum Rental Payments to be Received and Paid Under Lease Contracts (Parenthetical) (Detail) - Teekay Tangguh Joint Venture [Member] $ in Millions	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
Head lease payment received	$ 228.8
Sublease payment made	163.7
Other liabilities - non-current [Member]
Operating Leased Assets [Line Items]
Deferred Head Lease receipts	40.4
Accrued Liabilities [Member]
Operating Leased Assets [Line Items]
Deferred Head Lease receipts	$ 3.8

Operating and Direct Financin98

Operating and Direct Financing Leases - Net Investment in Direct Financing Leases - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Vesselm³
Direct Financing Lease [Member]
Property Subject to or Available for Operating Lease [Line Items]
Purchase price of each vessel less upfront prepayment	$ 205
Upfront prepayment	51
Upfront fee	1
Minimum scheduled future revenues to be received by company in next 12 months	83.9
Minimum scheduled future revenues to be received by company in second year	207.9
Minimum scheduled future revenues to be received by company in third year	173.7
Minimum scheduled future revenues to be received by company in fourth year	39.1
Minimum scheduled future revenues to be received by company in fifth year	$ 39.2
Liquefied Natural Gas [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of capital leased assets | Vessel	2
FSO [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of capital leased assets | Vessel	1
Awilco LNG carriers [Member]
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels | Vessel	2
Volume of vessels | m³	155,900
Fixed-rate charter period, extension	1 year
Awilco LNG carriers [Member] | Maximum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Capital lease arrangement period, lessor	five-year fixed rate
Awilco LNG carriers [Member] | Minimum [Member]
Property Subject to or Available for Operating Lease [Line Items]
Capital lease arrangement period, lessor	four-year fixed rate

Operating and Direct Financin99

Operating and Direct Financing Leases - Components of Net Investments in Direct Financing Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Total minimum lease payments to be received	$ 855,655	$ 936,164
Estimated unguaranteed residual value of leased properties	203,465	203,465
Initial direct costs and other	428	461
Less unearned revenue	(375,419)	(435,137)
Total	684,129	704,953
Total	684,129	704,953
Less current portion	(26,542)	(20,823)
Long-term portion	$ 657,587	$ 684,130

Capital Lease Obligations - Cap

Capital Lease Obligations - Capital Lease Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Capital Leased Assets [Line Items]
Less current portion	$ (4,546)	$ (4,422)
Long-term portion	54,581	59,128
Suezmax Tankers [Member]
Capital Leased Assets [Line Items]
Capital Lease Obligations	$ 59,127	$ 63,550

Capital Lease Obligations - Add

Capital Lease Obligations - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Vessel
Assets Held for Sale [Member]
Capital Leased Assets [Line Items]
Number of vessels	2
Suezmax Tankers [Member]
Capital Leased Assets [Line Items]
Weighted-average interest rate on leases	5.50%
Approximate capital leases future minimum payments due | $	$ 65.9
Interest expenses included in capital lease payment obligation | $	$ 6.8
Suezmax Tankers [Member] | Teekay LNG [Member]
Capital Leased Assets [Line Items]
Number of capital leased assets	2
Capital lease arrangement period, lessee	Under these capital leases, the owner has the option to require Teekay LNG to purchase the two vessels. The charterer, who is also the owner, also has the option to cancel the charter contracts and the cancellation options are first exercisable in October 2017 and July 2018, respectively.
Suezmax Tankers [Member] | Teekay LNG [Member] | Assets Held for Sale [Member]
Capital Leased Assets [Line Items]
Number of vessels	2

Capital Lease Obligations - Sch

Capital Lease Obligations - Schedule of Repayments of Capital Leases Including Imputed Interest (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Leases [Abstract]
Commitment, 2016	$ 7,673
Commitment, 2017	30,953
Commitment, 2018	$ 27,296

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Instruments and Other Non-Financial Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	$ 18,826
Derivatives not designated as a cash flow hedge	17,844	$ 14,415
Assets held for sale	55,450
Loans to equity-accounted investees and joint venture partners - Current	7,127	26,209
Loans to equity-accounted investees and joint venture partners - Long-term	184,390	227,217
Long-term debt	(7,480,374)	(6,741,625)
Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives not designated as a cash flow hedge	10,328	9,314
Interest Rate Swap Agreements [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives not designated as a cash flow hedge	7,516	5,101
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, restricted cash, and marketable securities	855,107	927,679
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest Rate Swap Agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - assets	6,136	1,051
Interest rate swap agreements - liabilities	(370,952)	(406,783)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Cross Currency Swap Agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(312,110)	(221,391)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Foreign Currency Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(18,826)	(18,407)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Logitel contingent consideration (see below)	(14,830)	(21,448)
Fair Value Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member] | Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives not designated as a cash flow hedge	10,328	9,314
Fair Value Asset (Liability) [Member] | Non-recurring [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels and equipment	100,600
Assets held for sale	55,450
Fair Value Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 1 [Member] | Public [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(1,161,729)	(1,405,711)
Fair Value Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivable	16,427	17,164
Fair Value Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 2 [Member] | Private [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(5,881,483)	(5,263,586)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, restricted cash, and marketable securities	855,107	927,679
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Interest Rate Swap Agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements - assets	6,136	1,051
Interest rate swap agreements - liabilities	(370,952)	(406,783)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Cross Currency Swap Agreements [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(312,110)	(221,391)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 2 [Member] | Foreign Currency Contracts [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreement	(18,826)	(18,407)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Logitel contingent consideration (see below)	(14,830)	(21,448)
Carrying Amount Asset (Liability) [Member] | Recurring [Member] | Level 3 [Member] | Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivatives not designated as a cash flow hedge	10,328	9,314
Carrying Amount Asset (Liability) [Member] | Non-recurring [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels and equipment	100,600
Assets held for sale	55,450
Carrying Amount Asset (Liability) [Member] | Fair Value Measurements Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans to equity-accounted investees and joint venture partners - Current	7,127	26,209
Loans to equity-accounted investees and joint venture partners - Long-term	184,390	227,217
Carrying Amount Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 1 [Member] | Public [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	(1,493,915)	(1,371,174)
Carrying Amount Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term receivable	16,453	17,137
Carrying Amount Asset (Liability) [Member] | Fair Value Measurements Other [Member] | Level 2 [Member] | Private [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ (5,890,171)	$ (5,280,802)

Fair Value Measurements - Fa104

Fair Value Measurements - Fair Value of Financial Instruments and Other Non-Financial Assets (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of interest rate swap agreements	$ 21.7	$ 24.5
Level 2 [Member] | BG Joint Venture [Member] | Shipbuilding supervision and crew training services [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables fair value	$ 18.2
Discount rate	8.00%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	Aug. 11, 2014USD ($)	Aug. 11, 2014USD ($)	Jan. 31, 2014shares	Dec. 31, 2015USD ($)MaintenanceAndSafety	Dec. 31, 2014USD ($)
Tanker Investments Limited [Member] | Warrant [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Expected volatility used in computing fair value of stock purchase warrants				54.60%
Tanker Investments Limited [Member] | Warrant [Member] | Maximum [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of shares available through exercise of stock purchase warrant | shares			1,500,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of ownership acquired	100.00%	100.00%
Portion of purchase price paid in cash	$ 4,000	$ 4,000
Potential additional cash amount for purchase price	$ 27,600	$ 27,600
Business Combination, Contingent Consideration Arrangements, Description				If there are no yard cost overruns and no charterer late delivery penalties; the two unchartered UMS under construction are chartered above specified rates and no material defects from construction are identified up until one year after the delivery of each UMS. To the extent such events occur, the potential additional amount of $27.6 million will be reduced in accordance with the terms of the purchase agreement.
Estimated fair value of contingent consideration liability				$ 14,830	$ 21,448
Discount rate				11.50%
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Contingent Consideration [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Estimated fair value of contingent consideration liability				$ 14,830
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Newbuildings [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of Units for Maintenance and Safety | MaintenanceAndSafety				2

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - Recurring [Member] - Level 3 [Member] - Warrant [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value at the beginning of the year	$ 9,314
Fair value on issuance		$ 6,840
Unrealized gain included in earnings	1,014	2,474
Fair value at the end of the year	$ 10,328	$ 9,314

Fair Value Measurements - Ch107

Fair Value Measurements - Changes in Estimated Fair Value of Contingent Consideration Liability Relating to Acquisition of Logitel (Detail) - Logitel Offshore Holdings [Member] - Teekay Offshore [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of year	$ (21,448)
Acquisition of Logitel	2,569	$ (21,170)
Settlement of liability	3,540
Unrealized gain (loss) included in Other income	509	(278)
Balance at end of year	$ (14,830)	$ (21,448)

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail)	1 Months Ended				6 Months Ended	12 Months Ended
	Mar. 31, 2015USD ($)$ / sharesshares	Jun. 30, 2014$ / sharesshares	Mar. 31, 2014USD ($)$ / sharesshares	Mar. 31, 2013USD ($)shares	Jun. 30, 2015	Dec. 31, 2015USD ($)Times$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares	Dec. 31, 2012shares	Dec. 31, 2008USD ($)
Class of Stock [Line Items]
Preferred stock, share authorized						25,000,000	25,000,000
Preferred stock, par value | $ / shares						$ 1	$ 1
Common stock, share authorized						725,000,000	725,000,000
Common stock, par value | $ / shares						$ 0.001	$ 0.001
Number of common shares or units issued related to the exercise of share based compensation during the period						200,000	1,800,000
Common stock, share issued						72,711,371	73,299,702
Preferred stock, share issued						0	0
Common stock, share outstanding						72,711,371	72,500,502
Minimum percentage of shares acquired in exercisable rights						20.00%
Minimum percentage of common stock acquired by stockholders for higher thresholds						15.00%
Weighted-average grant-date fair value of options granted | $ / shares						$ 7.74	$ 11.50	$ 10.54
Stock option per share value | $ / shares						$ 43.99	$ 56.76	$ 34.07
Teekay Offshore [Member] | Non-management directors [Member]
Class of Stock [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period						14,603	9,482	8,307
Teekay LNG [Member] | Non-management directors [Member]
Class of Stock [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period						10,447	9,521	7,362
Teekay Tankers [Member] | Non-management directors [Member] | Class A [Member]
Class of Stock [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period						51,948	17,073	142,157
Teekay Tankers, Teekay Offshore and Teekay LNG [Member] | Non-management directors [Member]
Class of Stock [Line Items]
Common units aggregate value, granted | $						$ 1,000,000	$ 800,000	$ 1,000,000
Tender Offers [Member]
Class of Stock [Line Items]
Minimum percentage of shares acquired in exercisable rights						20.00%
Phantom unit awards [Member] | Teekay Offshore [Member]
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards	102,843		67,569	63,309
Phantom unit awards [Member] | Teekay LNG [Member]
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards	32,054		31,961	36,878
Restricted stock units [Member]
Class of Stock [Line Items]
Vesting period						3 years
Value of each restricted stock unit and performance share unit in shares						Each restricted stock unit and performance share unit is equivalent in value to one share of the Company's common stock plus reinvested dividends from the grant date to the vesting date.
Number of shares or units granted equity based compensation awards						63,912	81,388	158,957
Fair value of granted stock | $						$ 2,800,000	$ 4,600,000	$ 5,400,000
Vested restricted stock						101,419	261,911	296,798
Market value of vested restricted stock | $						$ 4,300,000	$ 8,500,000	$ 8,800,000
Restricted stock units [Member] | Teekay Tankers [Member] | Class A [Member]
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards	192,387		586,014	411,629
Restricted stock and phantom share units [Member] | Teekay Tankers, Teekay Offshore and Teekay LNG [Member]
Class of Stock [Line Items]
Vesting period					3 years
Common units aggregate value, granted | $	$ 4,200,000		$ 5,700,000	$ 4,300,000
Stock Option [Member]
Class of Stock [Line Items]
Common stock, shares reserved for issuance upon exercise of options or equity awards granted or to be granted						4,527,282	4,009,878
Stock option, term						10 years
Vesting period						3 years
Stock options granted						265,135	15,243	72,810
Unrecognized compensation cost related to non-vested stock options granted under the Plans | $						$ 400,000
Expected recognition of compensation related to non-vested stock options granted under the Plans in 2015 | $						200,000
Expected recognition of compensation related to non-vested stock options granted under the Plans in 2016 | $						200,000
Compensation costs | $						1,700,000	$ 1,000,000	$ 1,800,000
Intrinsic value of options exercised | $						500,000	22,600,000	$ 22,600,000
Intrinsic value of outstanding in-the-money stock options | $						$ 0	39,000,000
Intrinsic value of exercisable stock options | $							$ 35,000,000
Weighted-average remaining life of options vested and expected to vest						3 years 4 months 24 days	3 years 7 months 6 days
Weighted-average grant-date fair value of options granted | $ / shares						$ 7.74	$ 11.50	$ 10.54
Expected volatility used in computing fair value of options granted						31.10%	34.70%	53.70%
Expected life used in computing fair value of options granted, years						5 years	5 years	4 years
Dividend yield used in computing fair value of options granted						4.40%	4.40%	4.80%
Risk-free interest rate used in computing fair value of options granted						1.40%	1.60%	0.80%
Estimated forfeiture rate used in computing fair value of options granted						8.00%	12.00%	12.00%
Period of historical data used to calculate expected volatility in years						5 years
Stock Option [Member] | Teekay Tankers [Member] | Non-management directors [Member]
Class of Stock [Line Items]
Stock options granted			152,346
Stock option per share value | $ / shares			$ 4.10
Stock option, term			10 years
Stock Option [Member] | Teekay Tankers [Member] | Officer [Member]
Class of Stock [Line Items]
Vesting period	3 years	3 years
Stock options granted	58,434	110,829
Stock option per share value | $ / shares	$ 5.39	$ 4.25
Stock option, term	10 years	10 years
Stock Option [Member] | Nonvested [Member]
Class of Stock [Line Items]
Weighted average grant date fair value of non-vested options forfeited | $						$ 0	$ 100,000	$ 100,000
Performance shares [Member]
Class of Stock [Line Items]
Number of times performance units to vest, Minimum | Times						0
Number of shares or units granted equity based compensation awards						61,774	50,689	54,773
Fair value of granted stock | $						$ 3,400,000	$ 3,400,000	$ 2,300,000
Performance shares [Member] | Minimum [Member]
Class of Stock [Line Items]
Vesting period						2 years
Performance shares [Member] | Maximum [Member]
Class of Stock [Line Items]
Vesting period						3 years
Restricted Stock Awards [Member]
Class of Stock [Line Items]
Compensation costs | $						$ 1,000,000	$ 1,000,000	$ 900,000
Number of shares or units granted equity based compensation awards						22,502	18,230	26,412
Restricted Stock Units and Performance Share Units [Member]
Class of Stock [Line Items]
Share based compensation expense | $						$ 4,500,000	$ 7,500,000	$ 9,900,000
Stock granted						98,381	149,082	175,206
Common Stock [Member]
Class of Stock [Line Items]
Repurchase of Common stock, shares						0	0
Common stock, share outstanding						72,711,000	72,501,000	70,729,000	69,704,000
Common Stock [Member] | Share Repurchase Program Two Thousand and Eight [Member]
Class of Stock [Line Items]
Common stock repurchase, amount authorized | $										$ 200,000,000
Common Stock [Member] | Two Thousand Thirteen Repurchase Authorization [Member]
Class of Stock [Line Items]
Repurchase of Common stock, shares						5,200,000
Common stock repurchase, amount authorized | $						$ 162,300,000
Common stock repurchase, total remaining amount authorized | $						$ 37,700,000

Capital Stock - Summary of Stoc

Capital Stock - Summary of Stock Option Activity and Related Information (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Outstanding - beginning of year	2,710	4,237	5,285
Options, Granted	265	15	73
Options, Exercised	(36)	(1,528)	(1,039)
Options, Forfeited/Expired	(139)	(14)	(82)
Options Outstanding - end of year	2,800	2,710	4,237
Options Exercisable - end of year	2,500	2,508	3,848
Weighted-Average Exercise Price, Outstanding - beginning of year	$ 36.61	$ 36.33	$ 34.40
Weighted-Average Exercise Price, Granted	43.99	56.76	34.07
Weighted-Average Exercise Price, Exercised	33.79	36.10	26.21
Weighted-Average Exercise Price, Forfeited/Expired	46.80	28.51	38.46
Weighted-Average Exercise Price, Outstanding - end of year	36.84	36.61	36.33
Weighted-Average Exercise Price, Exercisable - end of year	$ 36.03	$ 37.03	$ 37.03

Capital Stock - Non-Vested Stoc

Capital Stock - Non-Vested Stock Option Activity and Related Information (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Outstanding Non-Vested Stock Options - beginning of year	202	389	723
Options, Granted	265	15	73
Options, Vested	(167)	(188)	(401)
Options, Forfeited		(14)	(6)
Options Outstanding Non-Vested Stock Options - end of year	300	202	389
Weighted-Average Grant Date Fair Value, Outstanding non-vested stock options - beginning of Year	$ 9.37	$ 9.24	$ 8.74
Weighted-Average Grant Date Fair Value, Granted	7.74	11.50	10.54
Weighted-Average Grant Date Fair Value, Vested	9.07	9.30	8.57
Weighted-Average Grant Date Fair Value, Forfeited		9.01	9.46
Weighted-Average Grant Date Fair Value, outstanding non-vested stock options - end of year	$ 8.09	$ 9.37	$ 9.24

Capital Stock - Details Regardi

Capital Stock - Details Regarding Outstanding and Exercisable Stock Options (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Outstanding Options	2,800
Outstanding Options, Weighted-Average Remaining Life (Years)	3 years 6 months
Outstanding Options, Weighted-Average Exercise Price	$ 36.84	$ 36.61	$ 36.33	$ 34.40
Number of Exercisable Options	2,500
Exercisable Options, Weighted-Average Remaining Life (Years)	2 years 9 months 18 days
Exercisable Options, Weighted-Average Exercise Price	$ 36.03	$ 37.03	$ 37.03
$10.00 - $19.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	10
Range of Exercise Prices, upper limit	$ 19.99
Number of Outstanding Options	188
Outstanding Options, Weighted-Average Remaining Life (Years)	3 years 2 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 11.84
Number of Exercisable Options	188
Exercisable Options, Weighted-Average Remaining Life (Years)	3 years 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 11.84
$20.00 - $24.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	20
Range of Exercise Prices, upper limit	$ 24.99
Number of Outstanding Options	293
Outstanding Options, Weighted-Average Remaining Life (Years)	4 years 2 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 24.42
Number of Exercisable Options	293
Exercisable Options, Weighted-Average Remaining Life (Years)	4 years 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 24.42
$25.00 - $29.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	25
Range of Exercise Prices, upper limit	$ 29.99
Number of Outstanding Options	365
Outstanding Options, Weighted-Average Remaining Life (Years)	6 years 2 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 27.69
Number of Exercisable Options	365
Exercisable Options, Weighted-Average Remaining Life (Years)	6 years 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 27.69
$30.00 - $34.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	30
Range of Exercise Prices, upper limit	$ 34.99
Number of Outstanding Options	117
Outstanding Options, Weighted-Average Remaining Life (Years)	6 years 3 months 18 days
Outstanding Options, Weighted-Average Exercise Price	$ 34.44
Number of Exercisable Options	93
Exercisable Options, Weighted-Average Remaining Life (Years)	6 years 1 month 6 days
Exercisable Options, Weighted-Average Exercise Price	$ 34.53
$35.00 - $39.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	35
Range of Exercise Prices, upper limit	$ 39.99
Number of Outstanding Options	364
Outstanding Options, Weighted-Average Remaining Life (Years)	4 months 24 days
Outstanding Options, Weighted-Average Exercise Price	$ 39.01
Number of Exercisable Options	364
Exercisable Options, Weighted-Average Remaining Life (Years)	4 months 24 days
Exercisable Options, Weighted-Average Exercise Price	$ 39.01
$40.00 - $44.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	40
Range of Exercise Prices, upper limit	$ 44.99
Number of Outstanding Options	1,029
Outstanding Options, Weighted-Average Remaining Life (Years)	4 years
Outstanding Options, Weighted-Average Exercise Price	$ 41.33
Number of Exercisable Options	764
Exercisable Options, Weighted-Average Remaining Life (Years)	2 years 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 40.41
$50.00 - $54.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	50
Range of Exercise Prices, upper limit	$ 54.99
Number of Outstanding Options	429
Outstanding Options, Weighted-Average Remaining Life (Years)	1 year 2 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 51.40
Number of Exercisable Options	429
Exercisable Options, Weighted-Average Remaining Life (Years)	1 year 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 51.40
$55.00 - $59.99 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, lower limit	55
Range of Exercise Prices, upper limit	$ 59.99
Number of Outstanding Options	15
Outstanding Options, Weighted-Average Remaining Life (Years)	8 years 2 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 56.76
Number of Exercisable Options	5
Exercisable Options, Weighted-Average Remaining Life (Years)	8 years 2 months 12 days
Exercisable Options, Weighted-Average Exercise Price	$ 56.76

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Resolute Investments, Ltd. [Member]
Related Party Transaction [Line Items]
Share of Resolute in outstanding common stock	39.10%	34.80%	35.70%

Other Income (Loss) - Summary o

Other Income (Loss) - Summary of Other (Loss) Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income and Expenses [Abstract]
TIL stock purchase warrants received		$ 6,839
Volatile organic compound emission plant lease (loss) income	$ (417)	24	$ 238
Impairment of marketable securities	(683)	(1,322)	(2,062)
Miscellaneous income	2,666	1,006	9,229
Loss on bond repurchases		(7,699)	(1,759)
Other income (loss)	$ 1,566	$ (1,152)	$ 5,646

Derivative Instruments and H114

Derivative Instruments and Hedging Activities - Commitment of Foreign Currency Forward Contracts (Detail) - Dec. 31, 2015 $ in Thousands	USD ($)NOK / $€ / $SGD / $	NOKNOK / $€ / $SGD / $	EUR (€)NOK / $€ / $SGD / $	SGDNOK / $€ / $SGD / $
Derivative [Line Items]
Fair Value / Carrying Amount of Asset (Liability)	$ (18,826)
Expected Maturity Amount of Foreign Currency Derivatives in Next Fiscal Year	129,502
Expected Maturity Amount of Foreign Currency Derivatives in Year Two	$ 42,274
Euro [Member]
Derivative [Line Items]
Average Forward Rate | € / $	0.91	0.91	0.91	0.91
Fair Value / Carrying Amount of Asset (Liability)	$ (45)
Expected Maturity Amount of Foreign Currency Derivatives in Next Fiscal Year	$ 12,153
Euro [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Contract Amount in Foreign Currency | €			€ 11,103,000
Norwegian Kroner [Member]
Derivative [Line Items]
Average Forward Rate | NOK / $	7.72	7.72	7.72	7.72
Fair Value / Carrying Amount of Asset (Liability)	$ (18,005)
Expected Maturity Amount of Foreign Currency Derivatives in Next Fiscal Year	100,812
Expected Maturity Amount of Foreign Currency Derivatives in Year Two	$ 42,274
Norwegian Kroner [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Contract Amount in Foreign Currency | NOK		NOK 1,105,000,000
Singapore Dollar [Member]
Derivative [Line Items]
Average Forward Rate | SGD / $	1.36	1.36	1.36	1.36
Fair Value / Carrying Amount of Asset (Liability)	$ (776)
Expected Maturity Amount of Foreign Currency Derivatives in Next Fiscal Year	$ 16,537
Singapore Dollar [Member] | Foreign currency forward contracts [Member]
Derivative [Line Items]
Contract Amount in Foreign Currency | SGD				SGD 22,442,000

Derivative Instruments and H115

Derivative Instruments and Hedging Activities - Commitment of Cross Currency Swaps (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015NOK
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (18,826,000)
Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	(312,110,000)
Cross Currency Interest Rate Contract [Member] | Maturing In January 2016 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	(33,714,000)
Notional Amount	$ 89,710,000	NOK 500,000,000
Receivable Margin	4.00%	4.00%
Fixed Rate Payable	4.94%	4.94%
Remaining Term (years)	1 month 6 days
Cross Currency Interest Rate Contract [Member] | Maturing In January 2017 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (36,505,000)
Notional Amount	$ 101,351,000	NOK 600,000,000
Receivable Margin	5.75%	5.75%
Fixed Rate Payable	7.49%	7.49%
Remaining Term (years)	1 year 1 month 6 days
Cross Currency Interest Rate Contract [Member] | Maturing In March 2017 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (49,703,000)
Notional Amount	$ 125,000,000	NOK 700,000,000
Receivable Margin	5.25%	5.25%
Fixed Rate Payable	6.88%	6.88%
Remaining Term (years)	1 year 3 months 18 days
Cross Currency Interest Rate Contract [Member] | Maturing In January 2018 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (56,985,000)
Notional Amount	$ 143,536,000	NOK 800,000,000
Receivable Margin	4.75%	4.75%
Fixed Rate Payable	6.07%	6.07%
Remaining Term (years)	2 years 1 month 6 days
Cross Currency Interest Rate Contract [Member] | Maturing In July 2018 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (54,027,000)
Notional Amount	$ 150,000,000	NOK 900,000,000
Receivable Margin	4.35%	4.35%
Fixed Rate Payable	6.43%	6.43%
Remaining Term (years)	2 years 8 months 12 days
Cross Currency Interest Rate Contract [Member] | Maturing In January 2019 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (56,124,000)
Notional Amount	$ 162,200,000	NOK 1,000,000,000
Receivable Margin	4.25%	4.25%
Fixed Rate Payable	6.42%	6.42%
Remaining Term (years)	3 years 1 month 6 days
Cross Currency Interest Rate Contract [Member] | Maturing In April 2020 [Member] | NIBOR [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (25,052,000)
Notional Amount	$ 134,000,000	NOK 1,000,000,000
Receivable Margin	3.70%	3.70%
Fixed Rate Payable	5.92%	5.92%
Remaining Term (years)	4 years 4 months 24 days

Derivative Instruments and H116

Derivative Instruments and Hedging Activities - Additional Information (Detail)	Jan. 23, 2014USD ($)	Jan. 31, 2014USD ($)NOK / Derivativeshares	Dec. 31, 2015USD ($)Tranches$ / shares	Dec. 31, 2014USD ($)	Jan. 31, 2014NOK / shares
Derivative [Line Items]
Interest rate swaps, Description of Objective			The Company enters into interest rate swap agreements, which exchange a receipt of floating interest for a payment of fixed interest, to reduce the Company's exposure to interest rate variability on its outstanding floating-rate debt.
Equity method investment, ownership interest			17.62%
Derivatives not designated as a cash flow hedge			$ 17,844,000	$ 14,415,000
Interest Rate Swaps, Cross Currency Swaps Agreement and Foreign Currency Forward Contracts [Member]
Derivative [Line Items]
Fair value asset of interest rate swaps, cross currency swaps and foreign currency forward contracts having master agreements providing for net settlement			0
Fair value liability of interest rate swaps, cross currency swaps and foreign currency forward contracts having master agreements providing for net settlement			588,100,000
Restricted cash			105,300,000
Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Derivative [Line Items]
Derivatives not designated as a cash flow hedge			$ 10,328,000	$ 9,314,000
Teekay Tankers [Member] | Tanker Investments Limited [Member]
Derivative [Line Items]
Purchase of common stock | shares		5,000,000
Equity method investment, ownership interest	20.00%
Issuance of equity private placement	$ 250,000,000
Equity method investment		$ 50,000,000
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Warrant [Member]
Derivative [Line Items]
Fixed price of stock purchase warrants, per share | (per share)			$ 10		NOK 61.67
Consecutive trading days		10 days
Number of tranches vested | Tranches			2
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Warrant [Member] | Derivatives Not Designated as a Cash Flow Hedge [Member]
Derivative [Line Items]
Derivatives not designated as a cash flow hedge		$ 6,800,000	$ 10,300,000
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Maximum [Member] | Warrant [Member]
Derivative [Line Items]
Number of shares available through exercise of stock purchase warrant | shares		1,500,000
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Minimum [Member] | Warrant [Member] | Tranche One [Member]
Derivative [Line Items]
Fair market value of the shares | NOK / Derivative		77.08
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Minimum [Member] | Warrant [Member] | Tranche Two [Member]
Derivative [Line Items]
Fair market value of the shares | NOK / Derivative		92.50
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Minimum [Member] | Warrant [Member] | Tranche Three [Member]
Derivative [Line Items]
Fair market value of the shares | NOK / Derivative		107.91
Teekay Tankers [Member] | Tanker Investments Limited [Member] | Minimum [Member] | Warrant [Member] | Tranche Four [Member]
Derivative [Line Items]
Fair market value of the shares | NOK / Derivative		123.33

Derivative Instruments and H117

Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
U.S. Dollar-denominated interest rate swaps 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 155,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (2,626,000)
Weighted-Average Remaining Term (Years)	1 year 3 months 18 days
Fixed Interest Rate	2.20%	2.20%
United States Dollar Denominated Interest Rate Swaption One [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 155,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ 685,000
Weighted-Average Remaining Term (Years)	1 year 3 months 18 days
Fixed Interest Rate	3.30%	3.30%
United States Dollar Denominated Interest Rate Swaption Three [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 160,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ 1,956,000
Weighted-Average Remaining Term (Years)	2 years 1 month 6 days
Fixed Interest Rate	3.10%	3.10%
United States Dollar Denominated Interest Rate Swaption Two [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 160,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (2,041,000)
Weighted-Average Remaining Term (Years)	2 years 1 month 6 days
Fixed Interest Rate	2.00%	2.00%
United States Dollar Denominated Interest Rate Swaption Five [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 160,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ 2,981,000
Weighted-Average Remaining Term (Years)	2 years 6 months
Fixed Interest Rate	2.90%	2.90%
United States Dollar Denominated Interest Rate Swaption Four [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 160,000,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (1,739,000)
Weighted-Average Remaining Term (Years)	2 years 6 months
Fixed Interest Rate	1.80%	1.80%
Euro-denominated interest rate swaps [Member]
Derivative [Line Items]
Principal Amount | €		€ 222,700,000
Euro-denominated interest rate swaps [Member] | Euro Interbank Offered Rate Euribor [Member]
Derivative [Line Items]
Principal Amount	$ 241,798,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (35,674,000)
Weighted-Average Remaining Term (Years)	5 years
Fixed Interest Rate	3.10%	3.10%
U.S. Dollar-denominated interest rate swaps 1 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 3,092,442,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (312,131,000)
Weighted-Average Remaining Term (Years)	5 years 4 months 24 days
Fixed Interest Rate	3.40%	3.40%
U.S. Dollar-denominated interest rate swaps 2 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Principal Amount	$ 412,392,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (16,227,000)
Weighted-Average Remaining Term (Years)	3 years
Fixed Interest Rate	2.80%	2.80%
Interest Rate Swap Agreements [Member]
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (364,816,000)

Derivative Instruments and H118

Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Parenthetical) (Detail)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Oct. 03, 2015	Aug. 31, 2015	Jun. 30, 2015
Derivative [Line Items]
Minimum variable interest rate on debt	0.30%	0.30%
Maximum variable interest rate on debt	3.95%	3.95%
Floating Rate Payable [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 200,000,000
Fixed Interest Rate	2.14%	2.14%
Floating LIBOR rate receivable/payable cap	6.00%	6.00%
U.S. Dollar-denominated interest rate swaps 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 155,000,000
Fixed Interest Rate	2.20%	2.20%
United States Dollar Denominated Interest Rate Swaption One [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 155,000,000
Fixed Interest Rate	3.30%	3.30%
United States Dollar Denominated Interest Rate Swaption One [Member] | London Interbank Offered Rate (LIBOR) [Member] | Third Party [Member]
Derivative [Line Items]
Fixed Interest Rate					2.15%
United States Dollar Denominated Interest Rate Swaption Three [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 160,000,000
Fixed Interest Rate	3.10%	3.10%
United States Dollar Denominated Interest Rate Swaption Two [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 160,000,000
Fixed Interest Rate	2.00%	2.00%
United States Dollar Denominated Interest Rate Swaption Two [Member] | London Interbank Offered Rate (LIBOR) [Member] | Third Party [Member]
Derivative [Line Items]
Fixed Interest Rate				1.97%
United States Dollar Denominated Interest Rate Swaption Five [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 160,000,000
Fixed Interest Rate	2.90%	2.90%
United States Dollar Denominated Interest Rate Swaption Four [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 160,000,000
Fixed Interest Rate	1.80%	1.80%
United States Dollar Denominated Interest Rate Swaption Four [Member] | London Interbank Offered Rate (LIBOR) [Member] | Third Party [Member]
Derivative [Line Items]
Fixed Interest Rate			1.83%
Euro-denominated interest rate swaps [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt | €		€ 222,700,000
Reducing principal amount of interest rate swaps	$ 76,100,000	€ 70,100,000
Teekay LNG [Member] | U.S. Dollar-denominated interest rate swaps 3 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Fixed Interest Rate					3.34%
Teekay LNG [Member] | United States Dollar Denominated Interest Rate Swaption Three [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Fixed Interest Rate				3.10%
Teekay LNG [Member] | United States Dollar Denominated Interest Rate Swaption Five [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Fixed Interest Rate			2.935%
2016 Termination [Member] | Derivatives designated as a cash flow hedge [Member] | U.S. Dollar-denominated interest rate swaps 3 [Member]
Derivative [Line Items]
Interest rate swap aggregate principal amount used to economically hedge on new debt	$ 320,000,000

Derivative Instruments and H119

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	$ 95,302	$ 69,470
Derivative Assets	17,844	14,415
Accrued Liabilities	(412,278)	(394,759)
Current Portion of Derivative Liabilities	(267,539)	(203,957)
Derivative Liabilities	(414,084)	(422,182)
Derivative [Member]
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	80
Accrued Liabilities	(21,725)	(24,491)
Derivatives designated as a cash flow hedge [Member] | Interest Rate Swap Agreements [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Liabilities	(338)
Derivative Liabilities	(777)
Derivatives Not Designated as a Cash Flow Hedge [Member] | Warrant [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	10,328	9,314
Derivatives Not Designated as a Cash Flow Hedge [Member] | Interest Rate Swap Agreements [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	7,516	5,101
Current Portion of Derivative Liabilities	(198,196)	(148,006)
Derivative Liabilities	(154,673)	(240,171)
Derivatives Not Designated as a Cash Flow Hedge [Member] | Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Liabilities	(16,372)	(14,218)
Derivative Liabilities	(2,534)	(4,189)
Derivatives Not Designated as a Cash Flow Hedge [Member] | Cross Currency Swap Agreements [Member]
Derivatives, Fair Value [Line Items]
Current Portion of Derivative Liabilities	(52,633)	(41,733)
Derivative Liabilities	(256,100)	(177,822)
Derivatives Not Designated as a Cash Flow Hedge [Member] | Derivative [Member] | Interest Rate Swap Agreements [Member]
Derivatives, Fair Value [Line Items]
Accrued Liabilities	(18,348)	(22,656)
Derivatives Not Designated as a Cash Flow Hedge [Member] | Derivative [Member] | Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	80
Derivatives Not Designated as a Cash Flow Hedge [Member] | Derivative [Member] | Cross Currency Swap Agreements [Member]
Derivatives, Fair Value [Line Items]
Accrued Liabilities	$ (3,377)	$ (1,835)

Derivative Instruments - Effect

Derivative Instruments - Effective Portion of Gains (Losses) on Interest Rate Swap Agreements (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Derivative [Line Items]
Balance Sheet (AOCI), Effective Portion	$ (65)
Statement of Income (Loss), Effective Portion	2,613
Ineffective Portion	(1,050)
Interest Expense [Member]
Derivative [Line Items]
Balance Sheet (AOCI), Effective Portion	(65)
Ineffective Portion	$ (1,050)

Derivative Instruments and H121

Derivative Instruments and Hedging Activities - Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Realized losses relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	$ (140,519)	$ (131,179)	$ (160,451)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	38,319	(100,496)	178,865
Total realized and unrealized (losses) gains on derivative instruments	(102,200)	(231,675)	18,414
Interest Rate Swap Agreements [Member]
Realized losses relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	(108,036)	(125,424)	(122,439)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	37,723	(86,045)	182,800
Interest Rate Swaps Terminated [Member]
Realized losses relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	(10,876)	(1,319)	(35,985)
Foreign currency forward contracts [Member]
Realized losses relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	(21,607)	(4,436)	(2,027)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	(418)	(16,926)	$ (3,935)
Stock purchase warrants [Member]
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	$ 1,014	$ 2,475

Derivative Instruments and H122

Derivative Instruments and Hedging Activities - Effect of Gains (Losses) on Cross Currency Swaps (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized gains (losses)	$ (2,195)	$ 13,431	$ (13,304)
Cross Currency Interest Rate Contract Maturity and Partial Termination [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized (loss) gain on maturity and partial termination of cross currency swaps	(36,155)		6,800
Cross Currency Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized gains (losses)	(144,306)	(171,289)	(56,498)
Cross Currency Interest Rate Contract [Member] | Realized losses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized gains (losses)	(18,973)	(3,955)	2,089
Cross Currency Interest Rate Contract [Member] | Unrealized gains (losses) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized and Unrealized gains (losses)	$ (89,178)	$ (167,334)	$ (65,387)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information - Sevan Marine ASA (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)
Loss Contingencies [Line Items]
Equity method investment, ownership interest	17.62%
Sevan Marine ASA [Member]
Loss Contingencies [Line Items]
Equity method investment, ownership interest	43.00%
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Sevan Marine ASA [Member]
Loss Contingencies [Line Items]
Bond loan	$ 60,000,000
Estimated claim	50,000,000
Bond loan payable	18,800,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Sevan Marine ASA [Member] | Vendor Credit Loan [Member]
Loss Contingencies [Line Items]
Bond loan	41,000,000
Teekay Offshore [Member] | Logitel Offshore Holdings [Member] | Sevan Marine ASA [Member] | Cash Loan [Member]
Loss Contingencies [Line Items]
Bond loan	$ 19,000,000

Commitments and Contingencie124

Commitments and Contingencies - Additional Information - Petrobras (Detail) - FPSO Segment [Member] - Teekay Offshore [Member] - Petrobras [Member] - Subsequent Events [Member] $ in Millions	1 Months Ended
	Mar. 31, 2016USD ($)
Loss Contingencies [Line Items]
Percentage of rate reduction claim	2.00%
Estimated claim	$ 7.5
Return of 2% of Charter Hire Charter Hire Previously Paid [Member]
Loss Contingencies [Line Items]
Estimated claim	4.4
2% Reduction of Future Charter Hire [Member]
Loss Contingencies [Line Items]
Estimated claim	$ 3.1

Commitments and Contingencie125

Commitments and Contingencies - Additional Information - Vessels Under Construction (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)
Long-term Purchase Commitment [Line Items]
Payments made towards commitments for construction of certain carriers and tankers | $	$ 817,878	$ 1,706,500
Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Expected cost of project | $	3,600,000
Payments made towards commitments for construction of certain carriers and tankers | $	800,600
Capitalized interest and other miscellaneous construction costs | $	29,400
Estimated remaining payments required to be made under newbuilding contract in 2016 | $	864,600
Estimated remaining payments required to be made under newbuilding contract in 2017 | $	887,000
Estimated remaining payments required to be made under newbuilding contract in 2018 | $	616,300
Estimated remaining payments required to be made under newbuilding contract in 2019 | $	426,100
Estimated remaining payments required to be made under newbuilding contract in 2020 | $	$ 3,500
Newbuildings [Member] | Liquefied Natural Gas [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	11
Newbuildings [Member] | Liquefied Natural Gas [Member] | Delivery in 2016 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	2
Newbuildings [Member] | Liquefied Natural Gas [Member] | Delivery in 2017 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	3
Newbuildings [Member] | Liquefied Natural Gas [Member] | Delivery in 2018 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	4
Newbuildings [Member] | Liquefied Natural Gas [Member] | Delivery in 2019 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	2
Newbuildings [Member] | Long Distance Towing and Offshore Installation [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	4
Newbuildings [Member] | Long Distance Towing and Offshore Installation [Member] | Delivery in 2016 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	4
Newbuildings [Member] | Units for Maintenance and Safety [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	2
Newbuildings [Member] | Units for Maintenance and Safety [Member] | Delivery in Third Quarter 2016 and Second Quarter 2017 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	2
Newbuildings [Member] | Shuttle Tankers [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	3
Newbuildings [Member] | Shuttle Tankers [Member] | Delivery in Fourth Quarter 2017 through First Half 2018 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	3
Newbuildings [Member] | Floating Storage and Off-take [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1
Newbuildings [Member] | Floating Storage and Off-take [Member] | Delivery in 2017 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1
Newbuildings [Member] | FPSO Segment [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1
Newbuildings [Member] | FPSO Segment [Member] | Delivery in Third Quarter 2016 [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels	1

Commitments and Contingencie126

Commitments and Contingencies - Additional Information - Joint Ventures (Detail) $ in Millions	1 Months Ended				12 Months Ended
	Dec. 31, 2015USD ($)Vesselft³	Oct. 31, 2014USD ($)	Jul. 31, 2014USD ($)Vesselm³	Jun. 30, 2014USD ($)Vesselm³	Dec. 31, 2015USD ($)Vesselfloating_storage_unitft³	Dec. 31, 2014Vessel
Long-term Purchase Commitment [Line Items]
Joint venture ownership percentage	17.62%				17.62%
Put option to sell percentage one	15.00%
Put option to sell percentage two	20.00%
Put option to sell percentage three	25.00%
Additional call option percentage from put option	20.00%				20.00%
Additional call option value	$ 7.5
Put Option Percentage One [Member]
Long-term Purchase Commitment [Line Items]
Consideration received through put option sale	24.1
Put Option Percentage Two [Member]
Long-term Purchase Commitment [Line Items]
Consideration received through put option sale	32.1
Put Option Percentage Three [Member]
Long-term Purchase Commitment [Line Items]
Consideration received through put option sale	40.2
Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Expected cost of project					$ 3,600
Net of financing on newbuilding installments, 2016	864.6				864.6
Net of financing on newbuilding installments, 2017	887				887
Net of financing on newbuilding installments, 2018	616.3				616.3
Net of financing on newbuilding installments, 2019	426.1				426.1
Net of financing on newbuilding installments, 2020	3.5				$ 3.5
Odebrecht Oil & Gas S.A. [Member]
Long-term Purchase Commitment [Line Items]
Expected cost of project		$ 1,000
Operating lease arrangement period, lessor					12 years
Joint venture ownership percentage		50.00%
Payment made towards commitments	251.6				$ 251.6
Purchase obligation due in 2016	739.4				739.4
Purchase obligation due in 2017	13.6				13.6
Short-term loan secured by joint venture	248				248
Secured short-term loan refinanced with long-term debt facility	$ 804				$ 804
KT Maritime Joint Venture [Member]
Long-term Purchase Commitment [Line Items]
Joint venture ownership percentage	50.00%				50.00%
KT Maritime Joint Venture [Member] | Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels | Vessel					3
Fully built-up cost	$ 27.8				$ 27.8
Teekay LNG [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member] | Modified Vessel [Member]
Long-term Purchase Commitment [Line Items]
Operating lease arrangement period, lessor	20 years
Teekay LNG [Member] | Yamal LNG Joint Venture [Member]
Long-term Purchase Commitment [Line Items]
Net of financing on newbuilding installments, 2016	$ 74.4				74.4
Net of financing on newbuilding installments, 2017	97.6				97.6
Net of financing on newbuilding installments, 2018	356.6				356.6
Net of financing on newbuilding installments, 2019	$ 214.4				$ 214.4
Joint venture ownership percentage	50.00%		50.00%		50.00%
Net of financing on newbuilding installments, 2020	$ 198.3				$ 198.3
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Expected cost of project			$ 2,100
Number of vessels | Vessel			6
Volume of vessels | m³			172,000
Payment made towards commitments					$ 100.5
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | Minimum [Member]
Long-term Purchase Commitment [Line Items]
Secured debt financing percentage	70.00%				70.00%
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | Maximum [Member]
Long-term Purchase Commitment [Line Items]
Secured debt financing percentage	80.00%				80.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member]
Long-term Purchase Commitment [Line Items]
Joint venture ownership percentage	30.00%				30.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member] | Modified Vessel [Member]
Long-term Purchase Commitment [Line Items]
Number of floating storage units	1				1
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Lease Agreements [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member]
Long-term Purchase Commitment [Line Items]
Operating lease arrangement period, lessor					20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member]
Long-term Purchase Commitment [Line Items]
Expected cost of project	$ 872				$ 872
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member] | Lease Agreements [Member]
Long-term Purchase Commitment [Line Items]
Operating lease arrangement period, lessor	20 years				20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Maximum [Member] | LNG receiving and regasification terminal [member]
Long-term Purchase Commitment [Line Items]
Capacity of production facility, per day | ft³	800,000,000				800,000,000
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Long-term Purchase Commitment [Line Items]
Expected cost of project				$ 1,000
Operating lease arrangement period, lessor				20 years
Number of vessels | Vessel				4		4
Shipbuilding and crew training obligation incurred	$ 4.2				$ 4.2
Shipbuilding and crew training obligation in 2016	6				6
Shipbuilding and crew training obligation in 2017	3.8				3.8
Shipbuilding and crew training obligation in 2018	4.1				4.1
Shipbuilding and crew training obligation in 2019	0.4				0.4
Debt facility used to finance a portion of estimated fully built-up cost	787				787
Volume of vessels | m³				174,000
Teekay LNG [Member] | Pro Rata Share [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member]
Long-term Purchase Commitment [Line Items]
Net of financing on newbuilding installments, 2016	115.2				115.2
Net of financing on newbuilding installments, 2017	84				84
Net of financing on newbuilding installments, 2018	62.4				62.4
Teekay LNG [Member] | Pro Rata Share [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Long-term Purchase Commitment [Line Items]
Net of financing on newbuilding installments, 2016	7.9				7.9
Net of financing on newbuilding installments, 2017	15				15
Net of financing on newbuilding installments, 2018	17.3				17.3
Net of financing on newbuilding installments, 2019	6.3				6.3
Teekay LNG [Member] | Pro Rata Share [Member] | Exmar LPG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Long-term Purchase Commitment [Line Items]
Net of financing on newbuilding installments, 2016	4.9				4.9
Net of financing on newbuilding installments, 2017	62.7				62.7
Net of financing on newbuilding installments, 2018	$ 19.3				$ 19.3
Number of vessels | Vessel					7
Joint venture ownership percentage	50.00%				50.00%
Teekay LNG [Member] | Pro Rata Share [Member] | Exmar LPG Joint Venture [Member] | Financed [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Long-term Purchase Commitment [Line Items]
Number of vessels | Vessel					3
Corporate Joint Venture [Member] | KT Maritime Joint Venture [Member] | Newbuildings [Member]
Long-term Purchase Commitment [Line Items]
Payment made towards commitments	$ 7.9				$ 7.9
Purchase obligation due in 2016	19.9				19.9
Fully built-up cost	$ 55.5				$ 55.5

Commitments and Contingencie127

Commitments and Contingencies - Additional Information - STX Offshore & Shipbuilding Co. (Detail)	1 Months Ended			2 Months Ended	12 Months Ended
	Feb. 29, 2016USD ($)	May. 31, 2015USD ($)	Apr. 30, 2013SubsidiariesVesselDWT	Nov. 30, 2013Vessel	Dec. 31, 2016USD ($)	Nov. 30, 2014USD ($)
Loss Contingencies [Line Items]
Litigation settlement amount		$ 55,000,000
STX [Member]
Loss Contingencies [Line Items]
Weight capacity in dead-weight tonne | DWT			113,000
Number of special purpose subsidiary companies under agreement | Subsidiaries			4
STX [Member] | Subsequent Events [Member]
Loss Contingencies [Line Items]
Refund of cash deposit held in escrow					$ 600,000
Litigation settlement amount	$ 32,400,000
Receivable recorded	$ 0
Cash and Cash Equivalents [Member] | STX [Member]
Loss Contingencies [Line Items]
Amount of escrow account placed						$ 600,000
Orders to Construct Newbuildings [Member] | STX [Member]
Loss Contingencies [Line Items]
Number of vessels | Vessel			4
Additional Order Option Maximum [Member] | STX [Member]
Loss Contingencies [Line Items]
Number of vessels | Vessel			12
Option To Order Exercised [Member] | STX [Member]
Loss Contingencies [Line Items]
Number of vessels | Vessel				8

Commitments and Contingencie128

Commitments and Contingencies - Additional Information - Class Action Complaint (Detail) - $ / shares	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loss Contingencies [Line Items]
Quarterly dividend			$ 1.7325	$ 1.2650	$ 1.2650
Class Action Complaint [Member]
Loss Contingencies [Line Items]
Quarterly dividend	$ 0.055	$ 0.550

Commitments and Contingencie129

Commitments and Contingencies - Additional Information - Teekay Nakilat (Detail) - Teekay LNG [Member] $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Vessel	Dec. 22, 2014USD ($)
Teekay Nakilat Corporation [Member]
Loss Contingencies [Line Items]
Capital lease arrangement period, lessee	Teekay LNG owned a 70% interest in Teekay Nakilat Corporation (or Teekay Nakilat Joint Venture) that was the lessee under three separate 30-year capital lease arrangements with a third party for three LNG carriers (or the RasGas II LNG Carriers)
Number of vessels | Vessel	3
Security deposit against future claims		$ 6.8
Share of potential exposure	70.00%
RasGas II LNG Carriers [Member] | Foreign Tax Authority [Member]
Loss Contingencies [Line Items]
Share of potential exposure	70.00%
Estimated shares of lease rental increase claim	$ 60

Commitments and Contingencie130

Commitments and Contingencies - Additional Information - Banff (Detail)	1 Months Ended
	May. 31, 2015USD ($)
Loss Contingencies [Line Items]
Commercial settlement agreement with the charterer amount	$ 55,000,000
Insurance Claims [Member]
Loss Contingencies [Line Items]
Recovery from deductible insurance coverage	$ 0

Commitments and Contingencie131

Commitments and Contingencies - Additional Information - Redeemable Non-Controlling Interest (Detail) - Teekay Offshore [Member] - USD ($) shares in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Jul. 31, 2015	Dec. 31, 2015	Dec. 31, 2010	Dec. 31, 2014
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage		37.00%		27.30%
Series C Preferred Stock [Member]
Redeemable Noncontrolling Interest [Line Items]
Public offering made by Partnership	10.4
Preferred units dividend rate	8.60%
Net proceeds from public offering	$ 249.8
Preferred stock conversion basis		At any time after the 18 month anniversary of the closing date, at the election of each holder, the Series C Preferred Units may be converted on a one-for-one basis into common units of Teekay Offshore.
TOTAL EQUITY Non-controlling Interests [Member]
Redeemable Noncontrolling Interest [Line Items]
Value of shuttle tanker contributed by unrelated party in exchange of equity interest in subsidiary			$ 35
Ownership percentage			67.00%
Partnership owns percentage in joint venture			33.00%

Supplemental Cash Flow Infor132

Supplemental Cash Flow Information - Changes in Operating Assets and Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Accounts receivable	$ (6,488)	$ 136,660	$ (77,837)
Prepaid expenses and other assets	(10,607)	(1,618)	(2,386)
Accounts payable	(24,727)	(17,643)	(10,877)
Accrued and other liabilities	29,531	(56,768)	155,284
Total	$ (12,291)	$ 60,631	$ 64,184

Supplemental Cash Flow Infor133

Supplemental Cash Flow Information - Additional Information (Detail) shares in Millions	1 Months Ended			3 Months Ended	12 Months Ended
	Aug. 31, 2015Vessel	Jun. 30, 2014USD ($)Vessel	Mar. 31, 2014USD ($)Vessel	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)Vesselshares	Dec. 31, 2014USD ($)Vessel	Dec. 31, 2013USD ($)Vessel
Schedule Of Supplemental Cash Flow [Line Items]
Cash interest paid, including realized interest rate swap settlements					$ 318,100,000	$ 328,200,000	$ 282,400,000
Cash interest paid relating to interest rate swap amendments and terminations					$ 10,900,000	1,300,000	36,000,000
Teekay Tangguh Joint Venture [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Amount offset to total advances						14,400,000
Skaugen Multigas Subsidiary [Member] | Teekay LNG [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Aggregate purchase price, cash						21,600,000
Acquisition cost of vessels and associated fixed-rate contracts						27,000,000
Interest-bearing loan amount						$ 5,400,000
Class A [Member] | Principal Maritime Tankers [Member] | Teekay Tankers [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of common stock issued | shares					7.2
Number of common shares issued, noncash consideration					$ 49,300,000
Newbuildings [Member] | Teekay LNG [Member] | BG Joint Venture [Member] | Shipbuilding supervision and crew training services [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of vessels | Vessel		4				4
Long-term receivable included in other assets		$ 16,500,000				$ 17,100,000
Estimated fair value of the service obligation						33,300,000
Newbuildings [Member] | Teekay LNG [Member] | BG Joint Venture [Member] | Shipbuilding supervision and crew training services [Member] | Principal Amount [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Long-term receivable included in other assets		$ 20,300,000				20,300,000
Suezmax Tankers [Member] | Principal Maritime Tankers [Member] | Teekay Tankers [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of vessels | Vessel	12
Number of vessels acquired | Vessel					12
Aggregate purchase price					$ 661,300,000
Aggregate purchase price, cash					$ 612,000,000
Suezmax Tankers [Member] | Class A [Member] | Principal Maritime Tankers [Member] | Teekay Tankers [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of common stock issued | shares					13.6
Algeciras Spirit and Huelva Spirit [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Sale of vessel						56,200,000
Algeciras Spirit and Huelva Spirit [Member] | Capital Lease Obligations [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Extinguishment of debt						$ 56,200,000
Tenerife Spirit [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Sale of vessel							29,700,000
Tenerife Spirit [Member] | Capital Lease Obligations [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Extinguishment of debt							$ 29,700,000
VLCC [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of vessels | Vessel			3			3
Estimated aggregate fair value of vessels			$ 222,000,000	$ 222,000,000
Interest income recognized				$ 15,200,000
Awilco LNG carriers [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of vessels | Vessel					2
Awilco LNG carriers [Member] | Teekay LNG [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Number of vessels acquired | Vessel							2
Upfront fee							$ 1,000,000
Awilco LNG carriers [Member] | Vessel One [Member] | Teekay LNG [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Purchase price of per vessel							205,000,000
Upfront prepayment							51,000,000
Awilco LNG carriers [Member] | Vessel Two [Member] | Teekay LNG [Member]
Schedule Of Supplemental Cash Flow [Line Items]
Purchase price of per vessel							205,000,000
Upfront prepayment							$ 51,000,000

Vessel Sales, Asset Impairme134

Vessel Sales, Asset Impairments and Provisions - Additional Information - Sale of Vessels, Equipment and Other Assets (Detail) $ in Thousands	Jan. 23, 2014Vessel	May. 31, 2014USD ($)	Mar. 31, 2014Vessel	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)SubsidiariesVessel	Dec. 31, 2013USD ($)Vessel
Property, Plant and Equipment [Line Items]
Sales price				$ 20,472	$ 180,638	$ 47,704
Gain (loss) on sale of assets				1,466	$ 13,509	1,995
VLCC [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel			3		3
Conventional Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel					4
Gain (loss) on sale of assets					$ (500)
Teekay Offshore [Member] | Offshore Logistics [Member] | 1997-built shuttle tanker [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Write down and gain (loss) on sale of vessels				1,600
Proceeds from (Payments for) sale of assets				$ 8,600
Number of vessels | Vessel				1
Teekay Offshore [Member] | Offshore Logistics [Member] | 1995-build Shuttle Tanker [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Write down and gain (loss) on sale of vessels					$ 3,100
Teekay Offshore [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets						$ 700
Teekay Offshore [Member] | Conventional Tankers [Member] | 1992-built Shuttle Tanker [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel						1
Teekay Offshore [Member] | Conventional Tankers [Member] | 1995-built Conventional Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel						2
Teekay Offshore [Member] | Conventional Tankers [Member] | 1998-Built Conventional Tanker [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel						1
Teekay Tankers [Member]
Property, Plant and Equipment [Line Items]
Number of subsidiaries sold | Subsidiaries					2
Related working capital receivable					$ 1,700
Revolving credit facilities repaid					152,000
Teekay Tankers [Member] | Suezmax Tankers [Member] | Tanker Investments Limited [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel	4
Teekay Tankers [Member] | VLCC [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets					10,000
Aggregate proceeds received		$ 154,000
Teekay Tankers [Member] | VLCC [Member] | Tanker Investments Limited [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets					10,000
Aggregate proceeds received					154,000
Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Sales price				$ 11,200
Gain (loss) on sale of assets				$ 800
Teekay Tankers [Member] | Conventional Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Number of vessels | Vessel				1
Teekay Parent [Member] | Offshore Production Segment [Member] | Operating Segments [Member] | Hummingbird Spirit [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets				$ (900)
Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets						$ 1,300
Teekay Parent [Member] | Offshore Production [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member] | Office building [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of assets					$ 900

Vessel Sales, Asset Impairme135

Vessel Sales, Asset Impairments and Provisions - Additional Information - Asset Impairments and Provisions (Detail) $ in Thousands

Jan. 23, 2014USD ($)Vessel

Jan. 31, 2016USD ($)Vessel

Mar. 31, 2014USD ($)Vessel

Dec. 31, 2015Vessel

Mar. 31, 2015Vessel

Mar. 31, 2014USD ($)

Dec. 31, 2013USD ($)Vessel

Sep. 30, 2013Vessel

Dec. 31, 2015USD ($)Vessel

Dec. 31, 2014USD ($)Vessel

Dec. 31, 2013USD ($)Vessel

Feb. 28, 2014USD ($)

Property, Plant and Equipment [Line Items]

Loan loss provisions

$ (2,521)

$ 748

Percentage of ownership in joint venture arrangement

17.62%

17.62%

Write-down charges related to vessels

$ 71,641

$ 4,759

167,605

Interest income from loans

$ 11,200

11,200

VLCC [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

3

3

Interest income from loans

$ 11,200

$ 11,200

Estimated aggregate fair value of vessels

$ 222,000

222,000

Interest income recognized

$ 15,200

Tanker Investments Limited [Member]

Property, Plant and Equipment [Line Items]

Investment in equity private placement

$ 25,000

Vessels and equipment

$ 163,200

FPSO Segment [Member]

Property, Plant and Equipment [Line Items]

Loan loss provisions

$ (2,521)

2,634

Conventional Tankers [Member]

Property, Plant and Equipment [Line Items]

Loan loss provisions

$ 1,900

Conventional Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Suezmax Tankers [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

4

Teekay Tankers [Member]

Property, Plant and Equipment [Line Items]

Ownership percentage

25.90%

25.90%

26.20%

Teekay Tankers [Member] | Tanker Investments Limited [Member]

Property, Plant and Equipment [Line Items]

Issuance of equity private placement

250,000

Investment in equity private placement

$ 25,000

Percentage of ownership in joint venture arrangement

20.00%

Teekay Tankers [Member] | Tanker Investments Limited [Member] | Suezmax Tankers [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

4

Teekay Tankers [Member] | Conventional Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

1

Teekay Offshore [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels, description

During 2015, the carrying values of two of Teekay Offshore's 2000s-built conventional tankers and seven of Teekay Offshore's 1990s-built shuttle tankers were written down to their estimated fair value, using appraised values. The write-down of the two conventional tankers was the result of the expected sale of the vessels and the vessels were classified as held for sale on the Company's consolidated balance sheet as at December 31, 2015.

Ownership percentage

37.00%

37.00%

27.30%

Teekay Offshore [Member] | 1990-built Shuttle Tankers [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels, description

During 2014, the carrying value of one of Teekay Offshore's 1990s-built shuttle tanker was written down to its estimated fair value, using an appraised value. The write-down was the result of the tanker coming off charter and the expectation that it would be re-chartered at a lower rate.

Teekay Offshore [Member] | Impaired Asset [Member] | Recontracting [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels, description

During the third quarter of 2013, four of these six shuttle tankers were written down as the result of the re-contracting of one of the vessels at lower rates than expected during the third quarter of 2013, the cancellation of a short-term contract which occurred in September 2013 and a change in expectations for the contract renewal for two of the shuttle tankers.

Teekay Offshore [Member] | Impaired Asset [Member] | Contract Renewal [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels, description

In the fourth quarter of 2013, the remaining two of the six shuttle tankers were written down due to a cancellation in their contract renewal.

Teekay Offshore [Member] | Subsequent Events [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member]

Property, Plant and Equipment [Line Items]

Proceeds from sale of assets

$ 5,100

Teekay Offshore [Member] | Offshore Logistics [Member] | 1990-built Shuttle Tankers [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels

$ 4,800

Number of vessels | Vessel

6

Write-down charges related to vessels

$ 76,800

Teekay Offshore [Member] | Offshore Logistics [Member] | 1990-built Shuttle Tankers [Member] | Minimum [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Ownership percentage

50.00%

50.00%

Teekay Offshore [Member] | Offshore Logistics [Member] | 1990-built Shuttle Tankers [Member] | Maximum [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Ownership percentage

67.00%

67.00%

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Cost Approach Valuation Technique [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

5

1

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Contract Termination [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

4

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Recontracting [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

1

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Contract Renewal [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

2

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Discontinued Operations, Held-for-sale [Member] | Cost Approach Valuation Technique [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

1

7

Teekay Offshore [Member] | Offshore Logistics [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Minimum [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

2

Teekay Offshore [Member] | Offshore Logistics [Member] | Restructuring [Member] | 1990-built Shuttle Tankers [Member] | Discontinued Operations, Held-for-sale [Member] | Cost Approach Valuation Technique [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

1

Teekay Offshore [Member] | Offshore Logistics [Member] | Four Shuttle Tankers [Member] | 1990-built Shuttle Tankers [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

4

Write-down charges related to vessels

$ 56,500

Teekay Offshore [Member] | Offshore Logistics [Member] | Subsequent Events [Member] | Impaired Asset [Member] | 1990-built Shuttle Tankers [Member] | Discontinued Operations, Disposed of by Sale [Member] | Cost Approach Valuation Technique [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

1

Teekay Offshore [Member] | Conventional Tankers [Member] | 2000- built Conventional Tanker [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels

$ 3,900

Teekay Offshore [Member] | Conventional Tankers [Member] | Impaired Asset [Member] | 2000- built Conventional Tanker [Member] | Discontinued Operations, Held-for-sale [Member] | Cost Approach Valuation Technique [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

2

Teekay Offshore [Member] | Seven Shuttle Tankers [Member] | 1990-built Shuttle Tankers [Member]

Property, Plant and Equipment [Line Items]

Write down and gain (loss) on sale of vessels

$ 66,700

Teekay Offshore [Member] | Five Shuttle Tankers [Member] | 1990-built Shuttle Tankers [Member]

Property, Plant and Equipment [Line Items]

Estimated useful life

17 years 6 months

Teekay Parent [Member] | Conventional Tankers [Member] | Suezmax Tankers [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Write-down charges related to vessels

$ 90,800

Teekay Parent [Member] | Conventional Tankers [Member] | Impaired Asset [Member] | Suezmax Tankers [Member] | Operating Segments [Member]

Property, Plant and Equipment [Line Items]

Number of vessels | Vessel

4

Income (Loss) Per Share - Sched

Income (Loss) Per Share - Schedule of Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income (loss) per common share:
Basic	$ 1.13	$ (0.76)	$ (1.63)
Diluted	$ 1.12	$ (0.76)	$ (1.63)
Net income (loss) attributable to shareholders of Teekay Corporation	$ 82,151	$ (54,757)	$ (114,738)
Reduction in net earnings due to dilutive impact of stock-based compensation in Teekay LNG, Teekay Offshore and Teekay Tankers and Series C Preferred Units in Teekay Offshore	(227)
Net income (loss) attributable to shareholders of Teekay Corporation for diluted income (loss) per share	$ 81,924	$ (54,757)	$ (114,738)
Weighted average number of common shares	72,665,783	72,066,008	70,457,968
Dilutive effect of stock-based compensation	524,781
Common stock and common stock equivalents	73,190,564	72,066,008	70,457,968

Income (Loss) Per Share - Addit

Income (Loss) Per Share - Additional Information (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2013
Earnings Per Share [Abstract]
Anti-dilutive effect on calculation of diluted loss per common share attributable to outstanding stock-based awards	1.4	1

Restructuring Charges - Additio

Restructuring Charges - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 14,017	$ 9,826	$ 6,921
Restructuring liability	3,200	$ 9,000
Special Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Reimbursement revenue	$ 8,400
Assets Held for Sale [Member]
Restructuring Cost and Reserve [Line Items]
Number of vessels | Vessel	2
Shuttle Tankers Reflagged [Member]
Restructuring Cost and Reserve [Line Items]
Number of vessels | Vessel	1

Income Taxes - Components of Co

Income Taxes - Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Vessels and equipment	$ 43,289	$ 43,268
Tax losses carried forward	310,019	360,547
Other	22,141	28,973
Total deferred tax assets	375,449	432,788
Deferred tax liabilities:
Vessels and equipment	10,577	12,514
Long-term debt	3,218	2,295
Other	15,090	19,954
Total deferred tax liabilities	28,885	34,763
Net deferred tax assets	346,564	398,025
Valuation allowance	(310,862)	(385,431)
Net deferred tax assets	$ 35,702	$ 12,594

Income Taxes - Components of140

Income Taxes - Components of Company's Deferred Tax Assets and Liabilities (Parenthetical) (Detail) $ in Millions	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 1,280
Disallowed finance costs	$ 37.2

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current	$ (10,440)	$ (6,460)	$ 2,742
Deferred	27,207	(3,713)	(5,614)
Income tax recovery (expense)	$ 16,767	$ (10,173)	$ (2,872)

Income Taxes - Reconciliations

Income Taxes - Reconciliations of Income Tax Rates and Actual Tax Charge (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Net income before income taxes	$ 388,693	$ 134,175	$ 38,352
Net income (loss) not subject to taxes	252,604	(80,454)	(267,665)
Net income subject to taxes	136,089	214,629	306,017
At applicable statutory tax rates	32,750	39,382	12,719
Permanent and currency differences, adjustments to valuation allowances and uncertain tax positions	(49,789)	(28,027)	(8,173)
Other	272	(1,182)	(1,674)
Tax (recovery) expense related to the current year	$ (16,767)	$ 10,173	$ 2,872

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Balance of unrecognized tax benefits as at January 1	$ 20,335	$ 20,304	$ 29,364
Increases for positions related to the current year	4,578	3,643	1,141
Changes for positions taken in prior years	(2,965)	1,015	(1,284)
Decreases related to statute of limitations	(3,558)	(4,627)	(8,917)
Balance of unrecognized tax benefits as at December 31	$ 18,390	$ 20,335	$ 20,304

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Interest and penalties on unrecognized tax benefits	$ 0.3	$ 1.6	$ 7.2

Pension Benefits - Additional I

Pension Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Cost recognized for defined contribution pension plans	$ 15.2	$ 13.9	$ 14.8
Accumulated benefit obligation	67.1	$ 95.7
Estimations of contributions into benefit plan during 2016	$ 4.9
NORWAY [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of ownership of defined benefit pension assets	71.00%
AUSTRALIA [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of ownership of defined benefit pension assets	29.00%

Pension Benefits - Changes in B

Pension Benefits - Changes in Benefit Obligation and Fair Value of Benefit Plans Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	$ 97,158
Ending balance	73,075	$ 97,158
Funded status deficiency	(9,340)	(24,446)
Amounts recognized in the balance sheets:
Other long-term liabilities	9,340	24,446
Accumulated other comprehensive loss:
Net actuarial losses	(17,374)	(32,060)
Benefit obligation [Member]
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	121,604	150,996
Service cost	7,726	8,800
Interest cost	2,532	4,975
Contributions by plan participants	365	292
Actuarial (gain) loss	(9,165)	15,982
Benefits paid	(9,651)	(5,476)
Plan settlements and amendments	(14,891)	(21,235)
Benefit obligations assumed on acquisition		1,083
Foreign currency exchange rate changes	(16,001)	(33,680)
Other	(104)	(133)
Ending balance	82,415	121,604
Fair Value Of Plan Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Beginning balance	97,158	138,876
Actual return on plan assets	2,221	2,849
Contributions by the employer	7,858	12,283
Contributions by plan participants	365	292
Benefits paid	(9,646)	(5,456)
Plan settlements and amendments	(11,420)	(22,405)
Plan assets assumed on acquisition	203	998
Foreign currency exchange rate changes	(13,096)	(29,721)
Other	(568)	(558)
Ending balance	$ 73,075	$ 97,158

Pension Benefits - Changes i147

Pension Benefits - Changes in Benefit Obligation and Fair Value of Benefit Plans Assets (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Amortized from accumulated other comprehensive (loss) income into net periodic benefit cost	$ (0.6)

Pension Benefits - Pension Plan

Pension Benefits - Pension Plans with Benefit Obligations and Accumulated Benefit Obligations in Excess of Plan Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets [Abstract]
Benefit obligation	$ 61,124	$ 90,042
Fair value of plan assets	50,517	64,631
Accumulated benefit obligation	1,821	60,828
Fair value of plan assets	$ 925	$ 55,095

Pension Benefits - Components o

Pension Benefits - Components of Net Periodic Pension Cost Relating to Benefit Plans (Detail) - Net period pension cost [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 7,726	$ 8,800	$ 9,768
Interest cost	2,532	4,975	4,974
Expected return on plan assets	(2,895)	(5,333)	(5,688)
Amortization of net actuarial loss	1,538	7,148	1,484
Plan settlement	(140)	(3,332)	973
Other	568	557	425
Net cost	$ 9,329	$ 12,815	$ 11,936

Pension Benefits - Component150

Pension Benefits - Components of Other Comprehensive Income (Loss) Relating to Plans (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other comprehensive income (loss):
Net gain (loss) arising during the period	$ 13,288	$ (14,954)	$ (3,930)
Amortization of net actuarial loss	1,538	7,148	1,484
Plan settlement	(140)	(3,332)	973
Total income (loss)	$ 14,686	$ (11,138)	$ (1,473)

Pension Benefits - Estimated Fu

Pension Benefits - Estimated Future Benefit Payments which Reflect Expected Future Service to be Paid by Benefit Plans (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2,016	$ 3,567
2,017	3,111
2,018	2,791
2,019	2,834
2,020	2,748
2021 - 2025	17,706
Total	$ 32,757

Pension Benefits - Fair Value o

Pension Benefits - Fair Value of Plan Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 73,075	$ 97,158
Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	52,150	66,563
Mutual Fund Equity investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11,089	7,343
Mutual Funds Debt securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,512	6,119
Mutual Funds Real estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,929	1,530
Mutual Funds Cash and money market [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,674	12,238
Mutual Funds Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,720	$ 3,365

Pension Benefits - Fair Valu153

Pension Benefits - Fair Value of Plan Assets (Parenthetical) (Detail)	Dec. 31, 2015
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
Growth oriented assets	70.00%
Defensive assets	30.00%

Pension Benefits - Schedule of

Pension Benefits - Schedule of Assumptions Used (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted average assumptions used to determine benefit obligation
Discount rates	3.00%	2.90%
Rate of compensation increase	3.40%	4.20%
Weighted average assumptions used to determine net pension expense
Discount rates	3.00%	2.90%	3.90%
Rate of compensation increase	3.40%	4.20%	4.70%
Expected long-term rates of return	4.00%	4.00%	4.80%

Equity Accounted Investments -

Equity Accounted Investments - Additional Information (Detail) t in Millions, $ in Millions	1 Months Ended				12 Months Ended
	Dec. 31, 2015USD ($)Vesselft³	Oct. 31, 2014USD ($)	Jul. 31, 2014USD ($)TrainsVesseltm³	Jun. 30, 2014USD ($)Vesselm³	Dec. 31, 2015USD ($)Vesselfloating_storage_unitft³	Dec. 31, 2014Vessel
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	17.62%				17.62%
Newbuildings [Member]
Schedule of Equity Method Investments [Line Items]
Expected cost of project					$ 3,600
Odebrecht Oil & Gas S.A. [Member]
Schedule of Equity Method Investments [Line Items]
Operating lease arrangement period, lessor					12 years
Expected cost of project		$ 1,000
Equity method investment, ownership interest		50.00%
Teekay LNG [Member] | Liquefied Natural Gas [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels | Vessel					9
Teekay LNG [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member] | Modified Vessel [Member]
Schedule of Equity Method Investments [Line Items]
Operating lease arrangement period, lessor	20 years
Teekay LNG [Member] | Newbuildings [Member] | Liquefied Natural Gas [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels | Vessel	9
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	30.00%				30.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member] | Modified Vessel [Member]
Schedule of Equity Method Investments [Line Items]
Number of floating storage units	1				1
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Daewoo Shipbuilding & Marine Engineering Co. Ltd. [Member] | Lease Agreements [Member]
Schedule of Equity Method Investments [Line Items]
Operating lease arrangement period, lessor					20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Nogaholding [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	30.00%				30.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | Samsung [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%				20.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | GIC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%				20.00%
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member]
Schedule of Equity Method Investments [Line Items]
Expected cost of project	$ 872				$ 872
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member] | Lease Agreements [Member]
Schedule of Equity Method Investments [Line Items]
Operating lease arrangement period, lessor	20 years				20 years
Teekay LNG [Member] | Bahrain LNG Joint Venture [Member] | LNG receiving and regasification terminal [member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Capacity of production facility, per day | ft³	800,000,000				800,000,000
Teekay LNG [Member] | Yamal LNG Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%		50.00%		50.00%
Number of LNG trains | Trains			3
Expected capacity of trains | t			16.5
Teekay LNG [Member] | Yamal LNG Joint Venture [Member] | Newbuildings [Member]
Schedule of Equity Method Investments [Line Items]
Expected cost of project			$ 2,100
Number of vessels | Vessel			6
Volume of vessels | m³			172,000
Teekay LNG [Member] | Yamal LNG Project [Member] | Russia-based Novatek OAO [Member]
Schedule of Equity Method Investments [Line Items]
Partnership owns percentage in joint venture			60.00%
Teekay LNG [Member] | Yamal LNG Project [Member] | France-based Total S.A. [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage			20.00%
Teekay LNG [Member] | Yamal LNG Project [Member] | China-based China National Petroleum Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage			20.00%
Teekay LNG [Member] | BG Joint Venture [Member] | Newbuildings [Member] | Shipbuilding supervision and crew training services [Member]
Schedule of Equity Method Investments [Line Items]
Operating lease arrangement period, lessor				20 years
Expected cost of project				$ 1,000
Number of vessels | Vessel				4		4
Volume of vessels | m³				174,000

Equity Accounted Investments156

Equity Accounted Investments - Additional Information 1 (Detail) shares in Millions

Jan. 23, 2014USD ($)

Dec. 31, 2015USD ($)

Oct. 31, 2014USD ($)shares

Jan. 31, 2014USD ($)shares

Feb. 28, 2013USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Dec. 31, 2015VesselNOK / shares

Sep. 30, 2015USD ($)

Jun. 30, 2013

Nov. 01, 2012Vessel

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

17.62%

Combined interest of shares held in investment owned

17.62%

Common stock repurchased value

$ 12,000,000

Investments in joint venture

$ 40,595,000

$ 79,602,000

$ 157,762,000

FPSO [Member] | Itajai FPSO Joint Venture [Member]

Schedule of Equity Method Investments [Line Items]

Operating lease arrangement period, lessor

9 years

Odebrecht Oil & Gas S.A. [Member]

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

50.00%

Operating lease arrangement period, lessor

12 years

Odebrecht Oil & Gas S.A. [Member] | FPSO [Member]

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

50.00%

Teekay Offshore [Member] | FPSO [Member]

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

50.00%

Teekay Tankers [Member] | Tanker Investments Limited [Member]

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

20.00%

Issuance of equity private placement

$ 250,000,000

Equity method investment

$ 50,000,000

Percentage of ownership acquired

2.43%

Teekay Tankers [Member] | Tanker Investments Limited [Member] | Common Stock [Member]

Schedule of Equity Method Investments [Line Items]

Purchase of common stock | shares

0.9

5

Common stock repurchased value

$ 55,800,000

Teekay Tankers [Member] | Tanker Investments Limited [Member] | Common Stock [Member] | Maximum [Member]

Schedule of Equity Method Investments [Line Items]

Common stock repurchase, amount authorized

$ 30,000,000

$ 60,000,000

Teekay Tankers [Member] | Tanker Investments Limited [Member] | Common Stock [Member] | Share Repurchase Program October Two Thousand And Fourteen [Member]

Schedule of Equity Method Investments [Line Items]

Average price per share | NOK / shares

NOK 93.97

Teekay LNG [Member] | Exmar LNG Joint Venture [Member] | Maximum [Member]

Schedule of Equity Method Investments [Line Items]

Equity method investment, ownership interest

50.00%

Teekay LNG [Member] | Exmar LPG Joint Venture [Member]

Schedule of Equity Method Investments [Line Items]

Number of vessels | Vessel

20

Co-venturer interest in joint venture

50.00%

Investments in joint venture

$ 133,100,000

Difference between carrying amount and book value

(6,000,000)

Teekay LNG [Member] | Exmar LPG Joint Venture [Member] | Secured debt [Member] | Pro Rata Share [Member]

Schedule of Equity Method Investments [Line Items]

Pro rata share of existing debt and lease obligations

$ 108,000,000

Teekay LNG [Member] | Exmar LPG Joint Venture [Member] | In-Chartered [Member]

Schedule of Equity Method Investments [Line Items]

Number of vessels | Vessel

2

Teekay LNG [Member] | Exmar LPG Joint Venture [Member] | Exmar LNG Joint Venture [Member]

Schedule of Equity Method Investments [Line Items]

Co-venturer interest in joint venture

50.00%

Teekay LNG [Member] | Exmar LPG Joint Venture [Member] | Newbuildings [Member]

Schedule of Equity Method Investments [Line Items]

Number of vessels | Vessel

7

Equity Accounted Investments157

Equity Accounted Investments - Additional Information 2 (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2011USD ($)Vessel	Dec. 31, 2015USD ($)Vesselm³	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		17.62%
Equity income | $		$ 102,871	$ 128,114	$ 136,538
Unrealized gain (loss) on interest rate swaps | $		$ 5,900	$ 1,100	$ 31,200
Remora AS [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		49.00%
Teekay LNG [Member] | Exmar LNG Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels | Vessel		2
Teekay LNG [Member] | Exmar LNG Joint Venture [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		50.00%
Teekay LNG [Member] | Exmar LNG Joint Venture [Member] | Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		49.00%
Teekay Tankers [Member] | High-Q Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		50.00%
Teekay LNG-Marubeni Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		52.00%
Sevan [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	40.00%	43.00%	43.00%
Investment in equity private placement | $	$ 25,000
Quoted market value of investment of existing contract | $		$ 44,900	$ 61,400
Sevan [Member] | FPSO [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels | Vessel	2
Angola LNG Carriers [Member] | Newbuildings [Member] | Teekay LNG [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		33.00%
Number of vessels | Vessel		4
Volume of vessels | m³		160,400
Skaugen Petrotrans [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		50.00%
RasGas 3 Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Number of vessels | Vessel		4
RasGas 3 Joint Venture [Member] | Teekay LNG [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		40.00%

Equity Accounted Investments158

Equity Accounted Investments - Condensed Summary of Company's Investments in and Advances to Joint Ventures (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Jul. 31, 2014	Jan. 31, 2014	Nov. 30, 2011
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	17.62%
Investment in equity accounted investments	$ 905,159	$ 873,421
Libra Joint Venture [Member] | Teekay Offshore [Member] | Offshore Production [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 17,952	413
Itajai FPSO Joint Venture [Member] | Teekay Offshore [Member] | Offshore Production [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 59,692	59,764
Itajai FPSO Joint Venture [Member] | Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Investment in equity accounted investments		12,781
Angola LNG Carriers [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	33.00%
Investment in equity accounted investments	$ 56,203	47,863
Exmar LNG Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 77,844	99,541
Exmar LPG Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 163,730	209,367
RasGas 3 Joint Venture [Member] | Teekay LNG [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	40.00%
RasGas 3 Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	40.00%
Investment in equity accounted investments	$ 160,684	145,764
Teekay LNG-Marubeni Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	52.00%
Teekay LNG-Marubeni Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	52.00%
Investment in equity accounted investments	$ 283,589	274,431
Yamal LNG Joint Venture [Member] | Teekay LNG [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%		50.00%
Investment in equity accounted investments	$ 96,900	95,300
Yamal LNG Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 100,084	96,791
Tanker Investments Limited [Member] | Teekay Tankers [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest				20.00%
Tanker Investments Limited [Member] | Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	10.00%
Investment in equity accounted investments	$ 44,195	36,907
Tanker Investments Limited [Member] | Teekay Parent [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	7.00%
Investment in equity accounted investments	$ 34,224	29,043
High-Q Joint Venture [Member] | Teekay Tankers [Member] | Conventional Tankers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 21,166	$ 18,948
Sevan [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	43.00%	43.00%			40.00%
Sevan [Member] | Teekay Parent [Member] | Offshore Production [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	43.00%
Investment in equity accounted investments	$ 22,581	$ 34,985
Unallocated [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	50.00%
Investment in equity accounted investments	$ 16,072	32,791
Minimum [Member] | BG Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	20.00%
Investment in equity accounted investments	$ 25,574	$ 20,704
Maximum [Member] | BG Joint Venture [Member] | Teekay LNG [Member] | Liquefied Gas Carriers [Member] | Operating Segments [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest	30.00%

Equity- Accounted Investments -

Equity- Accounted Investments - Condensed Summary of Company's Financial Information for Joint Venture (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Income from vessel operations	$ 625,132	$ 427,159	$ 62,746
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Revenues	985,318	998,655	940,156
Income from vessel operations	433,023	454,135	328,430
Realized and unrealized (loss) gain on derivative instruments	(38,955)	(58,884)	16,334
Net income	275,259	300,837	$ 288,550
Equity Method Investments [Member] | Other assets - current [Member]
Schedule of Equity Method Investments [Line Items]
Current Assets	162,414	249,882
Equity Method Investments [Member] | Other assets - non - current [Member]
Schedule of Equity Method Investments [Line Items]
Non-current assets	80,987	132,849
Equity Method Investments [Member] | Other liabilities-current and obligations under capital lease [Member]
Schedule of Equity Method Investments [Line Items]
Current liabilities	162,076	217,180
Equity Method Investments [Member] | Other liabilities - non-current [Member]
Schedule of Equity Method Investments [Line Items]
Non-current liabilities	447,947	459,907
Equity Method Investments [Member] | Vessels and Equipment [Member]
Schedule of Equity Method Investments [Line Items]
Non-current assets	3,936,718	3,329,796
Equity Method Investments [Member] | Restricted Cash [Member] | Cash [Member]
Schedule of Equity Method Investments [Line Items]
Current Assets	386,727	434,833
Equity Method Investments [Member] | Net investment in direct financing leases [Member]
Schedule of Equity Method Investments [Line Items]
Non-current assets	1,813,991	1,850,279
Equity Method Investments [Member] | Current portion of long-term debt and obligations under capital lease [Member]
Schedule of Equity Method Investments [Line Items]
Current liabilities	345,336	521,148
Equity Method Investments [Member] | Long-term debt and obligations under capital lease [Member]
Schedule of Equity Method Investments [Line Items]
Non-current liabilities	$ 3,459,187	$ 2,906,560

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Events [Member] $ in Millions	1 Months Ended
	Mar. 31, 2016	Jan. 31, 2016USD ($)Bridge_Loan
Piranema Spirit [Member]
Subsequent Event [Line Items]
Percentage of rate reduction claim	2.00%
Teekay Tankers [Member] | Due January 2021 [Member] | Term Loan [Member] | Revolving Credit Facilities [Member]
Subsequent Event [Line Items]
Secured long-term debt facility		$ 894.4
Teekay Tankers [Member] | Due January 29, 2016 [Member] | Secured debt [Member]
Subsequent Event [Line Items]
Number of bridge loan facilities | Bridge_Loan		2
Teekay Tankers [Member] | Bridge Loan [Member]
Subsequent Event [Line Items]
Debt instrument maturity date		Jan. 29, 2016
Teekay Tankers [Member] | Bridge Loan [Member] | Due January 2016 [Member] | Secured debt [Member]
Subsequent Event [Line Items]
Repayments of short-term debt		$ 845.8