Teekay (TK) 6-K22 Nov 172017 Q3 Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2017
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	TK
Entity Registrant Name	TEEKAY CORP
Entity Central Index Key	911,971
Current Fiscal Year End Date	--12-31

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 500,781	$ 547,639	$ 1,558,209	$ 1,776,366
Voyage expenses	(42,454)	(37,213)	(133,891)	(97,102)
Vessel operating expenses	(200,456)	(204,156)	(599,500)	(625,672)
Time-charter hire expense	(28,645)	(33,810)	(98,106)	(111,727)
Depreciation and amortization	(136,942)	(141,688)	(422,713)	(426,924)
General and administrative expenses	(27,662)	(30,052)	(88,641)	(92,890)
Asset impairments (note 7a)	(243,659)	0	(245,159)	(43,649)
Net loss on sale of vessels, equipment and other operating assets (note 7b)	(7,926)	(7,838)	(25,095)	(54,413)
Restructuring charges (note 12)	(2,883)	(3,117)	(5,059)	(22,921)
(Loss) income from vessel operations	(189,846)	89,765	(59,955)	301,068
Interest expense	(74,499)	(68,490)	(219,237)	(213,948)
Interest income	1,900	1,143	4,917	3,507
Realized and unrealized (losses) gains on non-designated derivative instruments (note 14)	(6,128)	29,926	(43,173)	(166,967)
Equity income (loss) (note 7c)	1,264	21,070	(36,373)	73,706
Foreign exchange (loss) gain (notes 8 and 14)	(2,642)	6,116	(22,888)	(19,555)
Loss on deconsolidation of Teekay Offshore (note 3)	(103,188)	0	(103,188)	0
Other (loss) income	(4,705)	480	(5,169)	(20,806)
(Loss) income before income taxes	(377,844)	80,010	(485,066)	(42,995)
Income tax (expense) recovery (note 15)	(5,221)	133	(11,767)	(2,366)
Net (loss) income	(383,065)	80,143	(496,833)	(45,361)
Less: Net loss (income) attributable to non-controlling interests (note 3)	370,483	(74,071)	358,843	(75,159)
Net (loss) income attributable to the shareholders of Teekay Corporation	$ (12,582)	$ 6,072	$ (137,990)	$ (120,520)
Per common share of Teekay Corporation (note 16)
Basic (loss) income attributable to shareholders of Teekay Corporation (in usd per share)	$ (0.15)	$ 0.07	$ (1.60)	$ (1.63)
Diluted (loss) income attributable to shareholders of Teekay Corporation (in usd per share)	(0.15)	0.07	(1.60)	(1.63)
Cash dividends declared (in usd per share)	$ 0.055	$ 0.055	$ 0.165	$ 0.165
Weighted average number of common shares outstanding (note 16)
Basic (in shares)	86,261,330	84,887,101	86,232,315	76,887,689
Diluted (in shares)	86,261,330	84,973,745	86,232,315	76,887,689

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (383,065)	$ 80,143	$ (496,833)	$ (45,361)
Other comprehensive income (loss) before reclassifications
Unrealized (loss) gain on marketable securities	(262)	39	438	49
Unrealized (loss) gain on qualifying cash flow hedging instruments	(509)	4,664	(4,094)	(33,529)
Pension adjustments, net of taxes	(59)	234	(171)	665
Foreign exchange gain (loss) on currency translation	257	(44)	668	43
Amounts reclassified from accumulated other comprehensive income (loss) relating to:
Realized loss on qualifying cash flow hedging instruments to interest expense	424	0	1,186	0
Realized loss on qualifying cash flow hedging instruments to equity income	793	902	1,776	2,723
Other comprehensive income (loss)	644	5,795	(197)	(30,049)
Comprehensive (loss) income	(382,421)	85,938	(497,030)	(75,410)
Less: Comprehensive loss (income) attributable to non-controlling interests	370,036	(77,974)	359,793	(54,060)
Comprehensive (loss) income attributable to shareholders of Teekay Corporation	$ (12,385)	$ 7,964	$ (137,237)	$ (129,470)

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current
Cash and cash equivalents (note 8)	$ 453,283	$ 567,994
Restricted cash	27,848	107,672
Accounts receivable, including non-trade of $20,983 (2016 – $33,924) and related party balance of $9,459 (2016 – $26,471)	137,461	295,357
Assets held for sale	23,400	61,282
Net investment in direct financing leases (note 6)	9,683	154,759
Prepaid expenses and other (note 14)	36,698	84,899
Current portion of loans to equity-accounted investees	165,118	9,471
Total current assets	853,491	1,281,434
Restricted cash - non-current	74,301	129,576
Vessels and equipment (note 8)
At cost, less accumulated depreciation of $1,253,417 (2016 – $3,294,021)	2,946,312	7,666,975
Vessels under capital leases, at cost, less accumulated amortization of $40,803 (2016 – $69,072) (note 6)	874,670	484,253
Advances on newbuilding contracts and conversion costs (note 10a)	492,800	987,658
Total vessels and equipment	4,313,782	9,138,886
Net investment in direct financing leases - non-current (note 6)	624,122	505,835
Loans to equity-accounted investees and joint venture partners, bearing interest between nil and LIBOR plus margins up to 3%	145,804	292,209
Equity-accounted investments (notes 3 and 10b)	1,187,648	1,010,308
Other non-current assets (note 14)	90,059	190,699
Intangible assets – net	97,949	89,175
Goodwill	43,692	176,630
Total assets	7,430,848	12,814,752
Current
Accounts payable	22,166	53,507
Accrued liabilities and other (notes 12 and 14)	195,605	395,163
Advances from affiliates	79,208	8,522
Current portion of derivative liabilities (note 14)	71,956	115,813
Current portion of long-term debt (note 8)	727,434	998,591
Current obligation under capital leases	115,690	40,353
Current portion of in-process revenue contracts	14,983	34,511
Total current liabilities	1,227,042	1,646,460
Long-term debt (note 8)	2,621,078	5,640,955
Long-term obligation under capital leases	739,532	352,486
Derivative liabilities (note 14)	62,288	415,041
In-process revenue contracts	27,635	88,179
Other long-term liabilities (note 15)	131,115	333,236
Total liabilities	4,808,690	8,476,357
Commitments and contingencies (notes 6, 8, 10, and 14)
Redeemable non-controlling interest (notes 3 and 10e)	0	249,102
Equity
Common stock and additional paid-in capital ($0.001 par value; 725,000,000 shares authorized; 86,262,990 shares outstanding and issued (2016 – 86,149,975)) (note 9)	892,094	887,075
Retained earnings	(93,802)	22,893
Non-controlling interest	1,833,095	3,189,928
Accumulated other comprehensive loss	(9,229)	(10,603)
Total equity	2,622,158	4,089,293
Total liabilities and equity	$ 7,430,848	$ 12,814,752

Unaudited Consolidated Balance5

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable, non-trade	$ 20,983	$ 33,924
Accounts receivable, related party balance	9,459	26,471
Accumulated depreciation on vessels and equipment	1,253,417	3,294,021
Accumulated amortization on vessels under capital lease	$ 40,803	$ 69,072
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, share authorized (in shares)	725,000,000	725,000,000
Common stock, share outstanding (in shares)	86,262,990	86,149,975
Common stock, share issued (in shares)	86,262,990	86,149,975
Minimum
Range of interest	0.00%	0.00%
Maximum
Range of interest	3.00%	3.00%

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net (loss) income	$ (496,833)	$ (45,361)
Non-cash items:
Depreciation and amortization	422,713	426,924
Amortization of in-process revenue contracts	(22,307)	(21,191)
Unrealized gains on derivative instruments	(94,532)	(10,847)
Loss on sale of vessels, equipment and other operating assets (note 7)	25,095	54,413
Asset impairments (note 7)	245,159	43,649
Equity loss (income), net of dividends received	72,159	(37,393)
Income tax expense	11,767	2,366
Unrealized foreign exchange loss and other	111,216	96,257
Deconsolidation loss (note 3)	103,188	0
Change in operating assets and liabilities	72,558	28,797
Expenditures for dry docking	(38,704)	(33,841)
Net operating cash flow	411,479	503,773
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt, net of issuance costs	680,261	1,568,348
Prepayments of long-term debt	(314,029)	(1,532,606)
Scheduled repayments of long-term debt (note 8)	(615,337)	(616,343)
Proceeds from financing related to sales and leaseback of vessels	153,000	0
Decrease in restricted cash	105,999	27,384
Net proceeds from equity issuances of subsidiaries (note 5)	8,521	190,007
Net proceeds from equity issuances of Teekay Corporation	0	101,900
Distributions paid from subsidiaries to non-controlling interests	(88,133)	(98,657)
Cash dividends paid	(14,235)	(12,667)
Other financing activities	(24,348)	(17,567)
Net financing cash flow	(108,301)	(390,201)
INVESTING ACTIVITIES
Expenditures for vessels and equipment	(694,507)	(547,345)
Proceeds from sale of vessels and equipment	67,440	163,588
Proceeds from sale-leaseback of vessels	335,830	355,306
Investment in equity-accounted investments	(109,580)	(63,120)
Advances to joint ventures and joint venture partners	(12,576)	(12,259)
Cash of Teekay Offshore upon deconsolidation, net of proceeds received	(17,977)	0
Other investing activities	13,481	17,162
Net investing cash flow	(417,889)	(86,668)
(Decrease) increase in cash and cash equivalents	(114,711)	26,904
Cash and cash equivalents, beginning of the period	567,994	678,392
Cash and cash equivalents, end of the period	$ 453,283	$ 705,296

Unaudited Consolidated Stateme7

Unaudited Consolidated Statement of Changes in Total Equity - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands	Total	Redeemable Non-controlling Interest	Common Stock	Common Stock and Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss	Non-controlling Interests
Beginning Balance at Dec. 31, 2016	$ 4,089,293			$ 887,075	$ 22,893	$ (10,603)	$ 3,189,928
Beginning Balance, Shares at Dec. 31, 2016	86,149,975		86,150,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (496,833)				(137,990)		(358,843)
Reclassification of redeemable non-controlling interest in net income	(18,610)						(18,610)
Other comprehensive income (loss)	(197)					753	(950)
Dividends declared	(101,342)				(14,250)		(87,092)
Reinvested dividends	3			3
Reinvested dividends, Shares			1,000
Employee stock compensation and other (note 9)	5,016			5,016
Employee stock compensation and other (note 8), Shares			112,000
Dilution gains on equity issuances of subsidiaries (note 5)	35,545				35,545
Impact of deconsolidation of Teekay Offshore (note 3)	(881,830)					643	(882,473)
Changes to non-controlling interest from equity contributions and other	(8,887)					(22)	(8,865)
Ending Balance at Sep. 30, 2017	$ 2,622,158			$ 892,094	$ (93,802)	$ (9,229)	$ 1,833,095
Ending Balance, Shares at Sep. 30, 2017	86,262,990		86,263,000
Beginning balance at Dec. 31, 2016		$ 249,102
Increase (Decrease) in Temporary Equity [Roll Forward]
Reclassification of redeemable non-controlling interest in net income		18,610
Dividends declared		(13,699)
Impact of deconsolidation of Teekay Offshore (note 3)		(255,802)
Changes to non-controlling interest from equity contributions and other		1,789
Ending balance at Sep. 30, 2017		$ 0

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (or GAAP ). They include the accounts of Teekay Corporation (or Teekay ), which is incorporated under the laws of the Republic of the Marshall Islands, and its wholly-owned or controlled subsidiaries (collectively, the Company ). Certain of Teekay’s significant non-wholly owned subsidiaries are consolidated in these financial statements even though Teekay owns less than a 50% ownership interest in the subsidiaries. These significant subsidiaries include the following publicly traded subsidiaries (collectively, the Public Subsidiaries ): Teekay LNG Partners L.P. (or Teekay LNG ); Teekay Tankers Ltd. (or Teekay Tankers ); and, until September 25, 2017, Teekay Offshore Partners L.P. (or Teekay Offshore ). On September 25, 2017, Teekay, Teekay Offshore and Brookfield Business Partners L.P. together with its institutional partners (collectively, Brookfield ) finalized a strategic partnership (or the Brookfield Transaction ) which resulted in the deconsolidation of Teekay Offshore as of that date (see Note 3). Although Teekay owned less than 50% of Teekay Offshore, Teekay maintained control of Teekay Offshore until September 25, 2017 by virtue of its 100% ownership interest in the general partner of Teekay Offshore, which is a master limited partnership. In connection with Brookfield's acquisition of a 49 % interest in Teekay Offshore's general partner, Teekay Offshore GP LLC (or TOO GP ), Teekay and Brookfield entered into an amended limited liability company agreement whereby Brookfield obtained certain participatory rights in the management of TOO GP, which resulted in Teekay deconsolidating Teekay Offshore for accounting purposes on September 25, 2017. Subsequent to the closing of the Brookfield Transaction, Teekay has significant influence over Teekay Offshore and accounts for its investment in Teekay Offshore using the equity method. Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2016 , included in the Company’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (or SEC ) on April 12, 2017. In the opinion of management, these unaudited interim consolidated financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in total equity for the interim periods presented. The results of operations for the three and nine months ended September 30, 2017 , are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation. In addition, certain of the comparative figures have been reclassified to conform to the presentation adopted in the current period relating to certain operating activities in the Company's consolidated statements of cash flows. 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 could differ from those estimates. Given current credit markets, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement.

Accounting Pronouncements

Accounting Pronouncements	9 Months Ended
Accounting Pronouncements	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Accounting Pronouncements	Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (or FASB ) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (or ASU 2014-09 ). ASU 2014-09 will require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires entities to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue as each performance obligation is satisfied. ASU 2014-09 is effective for the Company January 1, 2018 and will be applied as a cumulative-effect adjustment as of this date. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company’s method of determining proportional performance will change from discharge-to-discharge to load-to-discharge. This would result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. In addition, the Company expects that the adoption of ASU 2014-09 may result in a change in the timing of the recognition of voyage expenses incurred during the period from discharge of the prior voyage to loading of the current voyage. The Company’s current policy is to expense such costs as incurred, and following adoption of ASU 2014-09 it is expected certain costs will be deferred and amortized over the load-to-discharge period. The Company expects that these principles will also be applied to voyage charters that are included in revenue sharing arrangements and, consequently, a portion of the Company’s monthly net revenue allocation from these revenue sharing arrangements would be deferred and recognized in future months. These changes would result in revenue and voyage expenses being recognized later than under the Company’s existing revenue and expense recognition policies, which may cause additional volatility in revenue and earnings between periods. ASC 2014-09 also changes the criteria to be used in determining whether the Company is operating as a principal or an agent in an arrangement. The Company expects that it will be considered to be the principal in certain crewing services it provides to other vessel owners and consequently the revenues earned and costs incurred will be presented on a gross basis compared with its current net presentation. The Company is in the final stages of completing its assessment of ASU 2014-09 and is focused on developing process changes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (or ASU 2016-02 ). ASU 2016-02 establishes a right-of-use model that requires a lessee to record a right of use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company expects to adopt ASU 2016-02 on January 1, 2018 . A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the fi nancial statements, with certain practical expedients available. The Company expects that the adoption of ASU 2016-02 will result in a change in accounting method for the lease portion of the daily charter hire for the Company’s chartered-in vessels accounted for as operating leases and office leases with firm periods of greater than one year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease liability on the balance sheet for these charters and office leases, whereas currently no right-of-use asset or lease liability is recognized. This will have the result of increasing the Company’s assets and liabilities. The pattern of expense recognition of chartered-in vessels and office leases is expected to remain substantially unchanged, unless the right-of-use asset becomes impaired. Based on lease agreements the Company has entered into on or prior to September 30, 2017, the increase to the Company’s assets and liabilities is expected to be less than $250 million . Such amount is preliminary and is subject to change based on the Company finalizing its methodology to divide contracts into their lease and non-lease components and finalizing the determination of the rate to discount future lease payments. The Company is in the final stages of completing its assessment of ASU 2016-02, and is focused on developing process changes, determining the transitional impact and completing other items required for the adoption of ASU 2016-02. In March 2016, the FASB issued Accounting Standards Update 2016-09, Improvements to Employee Share-Based Payment Accounting (or ASU 2016-09 ). ASU 2016-09 simplifies aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statements of cash flows. The Company adopted ASU 2016-09 on January 1, 2017 and the impact was immaterial. This new accounting guidance changed the presentation of cash payments for tax withholdings on share-settled equity awards from an operating cash outflow to financing cash outflow on the Company's statements of cash flows, and this change was applied retrospectively. In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . This update replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This update is effective for the Company on January 1, 2020, with a modified-retrospective approach. The Company is currently evaluating the effect of adopting this new guidance. In August 2016, the FASB issued Accounting Standards Update 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments , which, among other things, provides guidance on two acceptable approaches of classifying distributions received from equity method investees in the statements of cash flows. This update is effective for the Company on January 1, 2018, with a retrospective approach. The Company is currently evaluating the effect of adopting this new guidance. In November 2016, the FASB issued Accounting Standards Update 2016-18, Statement of Cash Flows: Restricted Cash (or ASU 2016-18). ASU 2016-18 requires that the statements of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 is effective for the Company on January 1, 2018. Adoption of ASU 2016-18 will result in the Company’s statements of cash flows to be modified to include changes in restricted cash in addition to changes in cash and cash equivalents. In January 2017, the FASB issued Accounting Standards Update 2017-01, Clarifying the Definition of a Business , (or ASU 2017-01). ASU 2017-01 changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. ASU 2017-01 requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. ASU 2017-01 also requires a business to include at least one substantive process and narrows the definition of outputs by more closely aligning it with how outputs are described in ASC 606. ASU 2017-01 is effective for annual reporting periods beginning after December 15, 2017, and for interim periods within those years. Early adoption is allowed and accounted for prospectively. If the adoption of ASU 2017-01 is completed prior to the closing of Teekay Tankers' merger with Tanker Investments Limited (or TIL ) (see note 7c), this acquisition is expected to be accounted for as an asset acquisition, otherwise the acquisition is expected to be accounted for as a business combination. Unlike a business combination, no goodwill or bargain purchase gain is recognized as part of an asset acquisition, and transaction costs are not expensed. In August 2017, the FASB issued Accounting Standards Update 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities (or ASU 2017-12 ). ASU 2017-12 eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires, for qualifying hedges, the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also modifies the accounting for components excluded from the assessment of hedge effectiveness, eases documentation and assessment requirements and modifies certain disclosure requirements. ASU 2017-12 will be effective for the Company January 1, 2019. The Company is currently evaluating the effect of adopting this new guidance.

Deconsolidation of Teekay Offsh

Deconsolidation of Teekay Offshore	9 Months Ended
Deconsolidation of Teekay Offshore	Sep. 30, 2017
Business Combinations [Abstract]
Deconsolidation of Teekay Offshore	Deconsolidation of Teekay Offshore On September 25, 2017, Teekay, Teekay Offshore and Brookfield finalized the Brookfield Transaction, which included, amongst others, the following: • Brookfield and Teekay invested $610.0 million and $30.0 million , respectively, in exchange for 244.0 million and 12.0 million common units of Teekay Offshore, respectively, and 62.4 million and 3.1 million common unit warrants (or the Brookfield Transaction Warrants ), with an exercise price of $0.01 per unit, a term of seven years, and which are exercisable when Teekay Offshore's common unit volume-weighted average price is equal to or greater than $4.00 per common unit for 10 consecutive trading days until September 25, 2024; • Brookfield acquired from Teekay a 49% interest in Teekay Offshore's general partner in exchange for $4.0 million and an option to purchase an additional 2.0% interest in Teekay Offshore's general partner from Teekay in exchange for 1.0 million of the Brookfield Transaction Warrants initially issued to Brookfield; • Teekay Offshore repurchased and cancelled all of its outstanding Series C-1 and Series D Preferred Units at a per unit redemption value of $18.20 and $23.75 per unit, respectively, which included Teekay's investment in 1,040,000 Series D Preferred Units. The Series D tranche B Warrants to purchase Teekay Offshore common units, which were issued as part of the Series D Preferred Units on June 29, 2016, were amended to reduce the exercise price from $6.05 to $4.55 per unit; and • Brookfield acquired from a subsidiary of Teekay, the $200 million subordinated promissory note issued by Teekay Offshore on July 1, 2016 and which Brookfield extended the maturity from 2019 to 2022, in consideration for $140.0 million and 11.4 million of the Brookfield Transaction Warrants initially issued to Brookfield. In connection with the acquisition of the 49% interest in Teekay Offshore's general partner, TOO GP, Teekay and Brookfield entered into an amended limited liability company agreement whereby Brookfield obtained certain participatory rights in the management of TOO GP, which resulted in Teekay deconsolidating Teekay Offshore for accounting purposes on September 25, 2017. Subsequent to the closing of the Brookfield Transaction, Teekay has significant influence over Teekay Offshore and accounts for its investment in Teekay Offshore using the equity method. Teekay Offshore is a related party of Teekay, and Brookfield is not a related party of Teekay. The following table shows the accounting impact from the deconsolidation of Teekay Offshore on September 25, 2017. On such date, the Company recognized both the net cash proceeds it received from Brookfield and the fair value of its retained interests in Teekay Offshore, including common units, warrants, and vessel charters with Teekay Offshore, and derecognized the carrying value of both Teekay Offshore’s net assets and the non-controlling interest in Teekay Offshore, with the difference between the amounts recognized and derecognized being the loss on deconsolidation. As of September 25, 2017 Net cash proceeds received by Teekay 139,693 Fair value of common units and General Partner interest of Teekay Offshore 150,132 Fair value of warrants 36,596 Fair value of vessel charters with Teekay Offshore 16,412 Carrying value of the non-controlling interest in Teekay Offshore 1,138,275 Subtotal 1,481,108 Less: Carrying value of Teekay Offshore's net assets on deconsolidation (1,584,296 ) Loss on deconsolidation of Teekay Offshore (103,188 ) The $150.1 million fair value of Teekay's retained investment in Teekay Offshore, consisting of approximately 14% in its outstanding common units and a 51% interest in TOO GP, was determined with reference to the market price of Teekay Offshore's common units on September 25, 2017. Subsequent to the formation of Teekay Offshore, Teekay sold certain vessels to Teekay Offshore. Even though Teekay Offshore was not a wholly-owned subsidiary of Teekay, all of the gain or loss on sales of these vessels was fully eliminated upon consolidation. Consequently, the portion of the gain or loss attributable to Teekay’s reduced interest in the vessels was deferred. The total unrecognized net deferred gain relating to the vessels previously sold from Teekay to Teekay Offshore was $349.6 million . Upon deconsolidation of Teekay Offshore, such amount was recognized as an increase to net loss (income) attributable to non-controlling interests for the three and nine months ended September 30, 2017. As at September 30, 2017, Teekay has recorded $123.6 million in advances to Teekay Offshore and $43.6 million in advances from Teekay Offshore in current portion of loans to equity-accounted investees and advances from affiliates, respectively, on the unaudited consolidated balance sheets. Teekay Corporation and its wholly-owned subsidiaries directly and indirectly provide substantially all of Teekay Offshore’s commercial, technical, crew training, strategic, business development and administrative service needs. In connection with the Brookfield Transaction, Teekay has agreed to transfer to Teekay Offshore certain of Teekay’s subsidiaries that provide certain of these services and certain related personnel, commencing January 1, 2018. As at September 30, 2017 , two shuttle tankers and three FSO units of Teekay Offshore were employed on long-term time-charter-out or bareboat contracts with subsidiaries of Teekay.

Segment Reporting

Segment Reporting	9 Months Ended
Segment Reporting	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company allocates capital and assesses performance from the separate perspectives of its two publicly-traded subsidiaries Teekay LNG and Teekay Tankers (together, the Daughter Companies ), Teekay and its remaining subsidiaries (or Teekay Parent ), and its equity-accounted investment in Teekay Offshore, as well as from the perspective of the Company's lines of business. The primary focus of the Company’s organizational structure, internal reporting and allocation of resources by the chief operating decision maker is on the Daughter Companies, Teekay Parent and its equity-accounted investment in Teekay Offshore (the Legal Entity approach ) and its segments are presented accordingly on this basis. The Company (excluding its equity-accounted investment in Teekay Offshore) has three primary lines of business: (1) offshore production (floating production, storage and off-loading (or FPSO ) units), (2) liquefied gas carriers (liquefied natural gas (or LNG ) and liquefied petroleum gas (or LPG ) carriers), and (3) conventional tankers. The Company manages these businesses for the benefit of all stakeholders. The Company incorporates the primary lines of business within its segments, as in certain cases there is more than one line of business in each Daughter Company and the Company believes this information allows a better understanding of the Company’s performance and prospects for future net cash flows. Subsequent to the Brookfield Transaction on September 25, 2017, the Company assesses the performance of, and makes decisions to allocate resources to, its investment in Teekay Offshore as a whole and not at the level of the individual lines of business within Teekay Offshore, which are (1) offshore production (FPSO units), (2) offshore logistics (shuttle tankers, the HiLoad DP unit, floating storage and offtake (or FSO ) units, a unit for maintenance and safety (or UMS ) and long-distance towing and offshore installation vessels), and (3) conventional tankers. The Company has therefore determined that its equity-accounted investment in Teekay Offshore represents a separate operating segment and that individual lines of business within Teekay Offshore are no longer disclosed in the Company's operating segments. All segment information for prior periods has been retroactively adjusted to be consistent with the change in segment presentation of Teekay Offshore, beginning with the third quarter of 2017. The following table includes results for the Company’s revenues by segment for the three and nine months ended September 30, 2017 and 2016 : Revenues Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore (1)(2) 255,781 286,298 796,711 877,470 Teekay LNG Liquefied Gas Carriers (2) 92,700 87,260 271,078 250,342 Conventional Tankers 11,585 13,398 35,291 45,328 104,285 100,658 306,369 295,670 Teekay Tankers (3) Conventional Tankers (2) 91,238 109,554 330,512 427,349 Teekay Parent Offshore Production 51,254 53,592 143,769 167,398 Conventional Tankers (2) 1,041 6,982 4,965 30,566 Other 19,727 17,258 47,149 60,698 72,022 77,832 195,883 258,662 Eliminations and other (22,545 ) (26,703 ) (71,266 ) (82,785 ) 500,781 547,639 1,558,209 1,776,366 (1) On September 25, 2017, the Company deconsolidated Teekay Offshore (see Note 3). The revenue figures above are those of Teekay Offshore until the date of deconsolidation. (2) Certain vessels are chartered between the Daughter Companies or Teekay Offshore 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 three and nine months ended September 30 , 2017 and 2016 is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore 9,211 13,554 33,429 38,472 Teekay LNG - Liquefied Gas Carriers 9,296 9,429 26,851 28,075 Teekay Tankers - Conventional Tankers — 417 — 5,405 Teekay Parent - Conventional Tankers — — — — 18,507 23,400 60,280 71,952 (3) On May 31, 2017, Teekay Tankers acquired from Teekay Parent the remaining 50% interest in Teekay Tanker Operations Ltd. (or TTOL ); Teekay Tankers acquired its initial 50% interest in TTOL in August 2014. As a result of the acquisition, the financial information for Teekay Tankers prior to the date that Teekay Tankers acquired its remaining 50% interest in TTOL is retroactively adjusted to include 100% of the results of TTOL during the periods they were under common control of Teekay and had begun operations. The following table includes results for the Company’s (loss) income from vessel operations by segment for the three and nine months ended September 30, 2017 and 2016 : (Loss) Income from Vessel Operations (1) Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore (2) 40,384 61,739 147,060 174,309 Teekay LNG Liquefied Gas Carriers 44,902 48,009 128,281 130,682 Conventional Tankers (34,580 ) 2,625 (42,010 ) (15,511 ) 10,322 50,634 86,271 115,171 Teekay Tankers (3) Conventional Tankers (13,734 ) (3,207 ) (1,406 ) 86,565 Teekay Parent Offshore Production (223,957 ) (13,116 ) (262,986 ) (39,159 ) Conventional Tankers (3,077 ) (363 ) (8,524 ) (13,644 ) Other 216 (5,922 ) (20,370 ) (22,174 ) (226,818 ) (19,401 ) (291,880 ) (74,977 ) (189,846 ) 89,765 (59,955 ) 301,068 (1) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). (2) On September 25, 2017, the Company deconsolidated Teekay Offshore (see Note 3). The income from vessel operations figures above are those of Teekay Offshore until the date of deconsolidation. (3) On May 31, 2017, Teekay Tankers acquired from Teekay Parent, the remaining 50% interest in TTOL; Teekay Tankers acquired its initial 50% interest in TTOL in August 2014. As a result of the acquisition, the financial information for Teekay Tankers prior to the date that Teekay Tankers acquired its remaining 50% interest in TTOL is retroactively adjusted to include 100% of the results of TTOL during the periods they were under common control of Teekay and had begun operations. Commencing on September 25, 2017, the Company accounts for its investment in Teekay Offshore using the equity method, and recognized an equity loss of $3.1 million for the three and nine months ended September 30, 2017. In the period after deconsolidation of Teekay Offshore to September 30, 2017, Teekay Offshore incurred impairment charges of $316.7 million which did not impact the equity loss recognized by Teekay as Teekay recorded its equity-accounted investment in Teekay Offshore at fair value on September 25, 2017. A reconciliation of total segment assets to total assets presented in the accompanying unaudited consolidated balance sheets is as follows: September 30, 2017 December 31, 2016 $ $ Teekay Offshore 302,706 5,354,702 Teekay LNG - Liquefied Gas Carriers 4,307,812 3,957,088 Teekay LNG - Conventional Tankers 115,168 193,553 Teekay Tankers - Conventional Tankers 1,675,347 1,870,211 Teekay Parent - Offshore Production 382,790 635,364 Teekay Parent - Conventional Tankers 32,153 55,937 Teekay Parent - Other 59,882 13,208 Cash and cash equivalents 453,283 567,994 Other assets not allocated 124,793 281,244 Eliminations (23,086 ) (114,549 ) Consolidated total assets 7,430,848 12,814,752

Equity Financing Transactions o

Equity Financing Transactions of the Daughter Companies and Teekay Offshore	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Equity Financing Transactions of the Daughter Companies and Teekay Offshore	Equity Financing Transactions of the Daughter Companies and Teekay Offshore During the nine months ended September 30, 2017 , one of the Company's publicly traded subsidiaries, Teekay Tankers, and Teekay Offshore, prior to the Brookfield Transaction on September 25, 2017, completed the following equity issuances: Number of shares / units # Total Proceeds Received $ Less: Teekay Corporation Portion $ Offering Expenses $ Net Proceeds Received from Non-controlling Interests $ Nine Months Ended September 30, 2017 Teekay Tankers Continuous Offering Program 3,800,000 8,826 — (305 ) 8,521 Teekay Tankers Private Placement 2,155,172 5,000 (5,000 ) — — Teekay Tankers Direct Equity Placement (1) 13,775,224 25,897 (25,897 ) — — Teekay Offshore Private Placements (2) 6,521,518 29,817 (17,160 ) (212 ) 12,445 (1) In May 2017, Teekay Tankers issued Class B common stock to the Company as consideration for its acquisition of the remaining 50% interest in TTOL. (2) In February 2017 and May 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distributions on Teekay Offshore's Series C-1 and D Preferred Units and on Teekay Offshore's common units and general partner interest held by subsidiaries of Teekay. In June 2016, Teekay Offshore agreed with Teekay that, until the Teekay Offshore's Norwegian Kroner (or NOK ) bonds maturing in 2018 had been repaid, all cash distributions (other than with respect to distributions, if any, on incentive distribution rights) to be paid by Teekay Offshore to Teekay or its affiliates, including Teekay Offshore's general partner, would instead be paid in common units or from the proceeds of the sale of common units. Teekay Offshore issued Teekay 2.4 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distributions on Teekay Offshore's Series D Preferred Units, common units and general partner interest held by subsidiaries of Teekay. In April 2017 and June 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the interest due on Teekay Offshore's $200 million loan due to Teekay. Teekay Offshore issued Teekay 1.7 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the loan interest.

Vessel Charters

Vessel Charters	9 Months Ended
Vessel Charters	Sep. 30, 2017
Leases [Abstract]
Vessel Charters	Vessel Charters The minimum estimated charter hire and rental payments for the remainder of the year and the next four fiscal years, as at September 30, 2017 , for the Company’s chartered-in and chartered-out vessels were as follows: Vessel Charters (1) Remainder 2018 2019 2020 2021 (in millions of U.S. Dollars) Charters-in – operating leases 18.0 57.4 56.1 52.0 44.9 Charters-in – capital leases (2) 44.7 138.9 119.5 118.9 110.2 Charters-in – related to capital leases (3) 4.1 16.3 16.3 16.3 16.3 66.8 212.6 191.9 187.2 171.4 Charters-out – operating leases (4) 146.9 469.8 392.6 350.5 289.3 Charters-out – direct financing leases (5) 15.1 45.9 39.1 39.2 39.1 162.0 515.7 431.7 389.7 328.4 (1) Teekay LNG owns a 69% ownership interest in Teekay BLT Corporation (or the Teekay Tangguh Joint Venture ), which is a party to operating leases whereby the Teekay Tangguh Joint Venture is leasing two LNG carriers (or the Tangguh LNG Carriers ) to a third party, which is in turn leasing the vessels back to the joint venture. This table does not include Teekay LNG’s minimum charter hire payments to be paid and received under these leases for the Tangguh LNG Carriers, which are described in Note 9 to the audited consolidated financial statements filed with the Company’s Annual Report on Form 20-F for the year ended December 31, 2016 . Under the terms of the leasing arrangement for the Tangguh LNG Carriers, whereby the Teekay Tangguh Joint Venture is the lessee, the lessor claims tax depreciation on its lease of these vessels. As is typical in these types of leasing arrangements, tax and change of law risks are assumed by the lessee. Lease payments under the lease arrangements are based on certain tax and financial assumptions at the commencement of the leases. If an assumption proves to be incorrect, the lessor is entitled to increase the lease payments to maintain its agreed after-tax margin. The carrying amount of tax indemnification guarantees of Teekay LNG relating to the leasing arrangement through the Teekay Tangguh Joint Venture as at September 30, 2017 was $7.2 million ( December 31, 2016 – $7.5 million ) and is included as part of other long-term liabilities in Teekay LNG’s consolidated balance sheets. The tax indemnification is for the duration of the lease contracts with the third party plus the years it would take for the lease payments to be statute barred, which will end in 2033 for the vessels. Although there is no maximum potential amount of future payments, the Teekay Tangguh Joint Venture may terminate the lease arrangement on a voluntary basis at any time. If the lease arrangement terminates, the Teekay Tangguh Joint Venture will be required to pay termination sums to the lessor sufficient to repay the lessor’s investment in the vessels and to compensate it for the tax effect of the terminations, including recapture of any tax depreciation. (2) As at September 30, 2017 , Teekay LNG was a party, as lessee, to capital leases on two Suezmax tankers, the Teide Spirit and the Toledo Spirit . 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 November 2017 and August 2018, respectively. The amounts in the table above assume the owner will not exercise its options to require Teekay LNG to purchase either of the vessels from the owner, but rather assume the owner will cancel the charter contracts when the cancellation right is first exercisable (in November 2017 and August 2018 , respectively) and sell the vessels to a third party, upon which the remaining lease obligations will be extinguished. Therefore, the table above does not include any amounts after the expected cancellation date of the leases. In August 2017, the charterer of the Teide Spirit gave formal notification to Teekay LNG of its intention to terminate its charter, subject to certain conditions being met and third-party approvals being received. In October 2017, the charterer notified Teekay LNG that it has marketed the Teide Spirit for sale and, upon sale of the vessel, it will concurrently terminate its existing charter contract with Teekay LNG. Teekay LNG is also a party to capital leases on three LNG carriers, the Creole Spirit, the Oak Spirit and the Torben Spirit . Upon delivery of the Creole Spirit in February 2016, the Oak Spirit in July 2016 and the Torben Spirit in March 2017, Teekay LNG sold these vessels to a third party and leased them back under 10 -year bareboat charter contracts ending in 2026 and 2027. The bareboat charter contracts are accounted for as capital leases. Teekay LNG guarantees the obligations of the bareboat charter contracts. In addition, the guarantee agreements require Teekay LNG to maintain minimum levels of tangible net worth and aggregate liquidity, and not to exceed a maximum amount of leverage. As at September 30, 2017 , Teekay LNG had sale-leaseback agreements in place for five of its eight LNG carrier newbuildings scheduled to deliver during the remainder of 2017 and 2018, and at such dates, the buyers will take delivery and charter each respective vessel back to Teekay LNG. As at September 30, 2017 , Teekay LNG had received $211.2 million from the buyers, which has been recorded as current portion and long-term obligations under capital lease in Teekay LNG's consolidated balance sheets, and Teekay LNG has secured a further $699 million in capital lease financing to be received in the remainder of 2017 to 2018. (3) In July 2017, Teekay Tankers completed a 153.0 million sale-leaseback financing transaction relating to four of its Suezmax tankers, the Athens Spirit , Beijing Spirit , Moscow Spirit and Sydney Spirit . Under this arrangement, Teekay Tankers has agreed to transfer the vessels to subsidiaries of the financial institution (or collectively the Lessors ) and lease the vessels back from the Lessors on bareboat charters for a 12 -year term. Teekay Tankers has the option to repurchase the vessels from July 2020 to July 2029. The Lessors are companies whose only assets and operations are to hold Teekay Tankers' leases and vessels. Teekay Tankers operates the vessels during the lease term and as a result, is the primary beneficiary of the Lessors and consolidates the Lessors for financial reporting purposes. The liabilities of the Lessors are loans and are non-recourse to Teekay Tankers. The amounts funded to the Lessors materially match the funding received by Teekay Tankers' subsidiaries. As a result, the amounts due by Teekay Tankers' subsidiaries to the Lessors have been included in obligations under capital leases as representing the Lessor's loans. The bareboat charters also require that Teekay Tankers maintain minimum levels of cash and aggregate liquidity. (4) The minimum scheduled future operating lease revenues do not include revenue generated from new contracts entered into after September 30, 2017 , revenue from unexercised option periods of contracts that existed on September 30, 2017 , revenues from vessels in the Company's equity-accounted investments, or variable or contingent revenues. Therefore, the minimum scheduled future operating lease revenues should not be construed to reflect total charter hire revenues that may be recognized for any of the years. (5) The Tangguh LNG Carriers’ time-charter contracts and two bareboat charter contracts for two LNG carriers chartered to Awilco LNG ASA (or Awilco ) are accounted for as direct financing leases. In June 2017, Teekay LNG amended the charters with Awilco to defer a portion of charter hire and extend the bareboat charter contracts and related purchase obligations on both vessels to December 2019. The amendments have the effect of deferring between $10,600 per day and $20,600 per day per vessel from July 1, 2017 until December 2019, with such deferred amounts added to the purchase obligation amounts. As a result of the contract amendments, the charter contracts with Awilco will be reclassified to operating leases from direct finance leases upon the expiry of the original terms of the contracts with Awilco in November 2017 and August 2018.

Asset Impairments, Loss on Sale

Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment	Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity I nvestment a) Asset Impairments In September 2017, the estimated future cash flows and carrying value of the asset groups for the Petrojarl Foinaven FPSO unit and Petrojarl Banff FPSO unit, each owned by Teekay Parent, changed upon the deconsolidation of Teekay Offshore. For the Petrojarl Foinaven FPSO, two shuttle tankers, which are owned by Teekay Offshore, were removed from the carrying value of the asset group and the estimated future cash flows of the asset group was changed to include the in-charter costs of these two vessels to be paid by Teekay to Teekay Offshore. For the Petrojarl Banff FPSO, the carrying value of an FSO, which is owned by Teekay Offshore, was removed from the carrying value of the asset group and the estimated future cash flows of the asset group was changed to include the in-charter costs of the FSO unit to be paid by Teekay to Teekay Offshore. This change in asset groups and a re-evaluation of the estimated future net cash flows of the units resulted in impairment charges of $205.7 million for the Petrojarl Foinaven FPSO and Petrojarl Banff FPSO, for the three and nine months ended September 30, 2017. The impairment charges are included in the Company's Teekay Parent Segment - Offshore Production. In August 2017, the charterer for the African Spirit Suezmax tanker gave formal notice to Teekay LNG that it will not exercise its one -year extension option under the charter contract and will redeliver the vessel to Teekay LNG in November 2017. As a result, Teekay LNG wrote-down the vessel to its estimated resale value. The Company's consolidated statements of (loss) income for the three and nine months ended September 30, 2017, includes a write-down of $12.5 million to the estimated resale value of this vessel. The write-down is included in the Company's Teekay LNG Segment - Conventional Tankers. Under Teekay LNG's charter contracts for the Teide Spirit and Toledo Spirit Suezmax tankers, the charterer, who is also the owner of the vessels, has the option to cancel the charter contracts 13 years following commencement of the respective charter contracts. In August 2017, the charterer of the Teide Spirit gave formal notification to Teekay LNG of its intention to terminate its charter contract subject to certain conditions being met and third-party approvals being received. In October 2017, the charterer notified Teekay LNG that it is marketing the Teide Spirit for sale and, upon sale of the vessel, it will concurrently terminate its existing charter contract with Teekay LNG. The charterer’s cancellation option for the Toledo Spirit is first exercisable in August 2018. Given Teekay LNG's prior experience with this charterer, Teekay LNG expects it will also cancel the charter contract and sell the Toledo Spirit to a third party in 2018. Teekay LNG wrote-down the vessels to their estimated fair values based on their expected future discounted cash flows and recorded a $25.5 million write down on a combined basis of the Teide Spirit and Toledo Spirit . The write-downs are included in the Company's Teekay LNG Segment - Conventional Tankers. During the second quarter of 2016, Teekay Offshore cancelled the UMS construction contracts for two UMS newbuildings. As a result, the carrying values of these two UMS newbuildings were written down to $ nil . The Company's consolidated statements of (loss) income for the nine months ended September 30, 2016 include a $43.7 million write-down related to these two UMS newbuildings. The write-down is included in the Company’s Teekay Offshore Segment. b) Net Loss on Sale of Vessels, Equipment and Other Operating Assets The following tables show the loss on sale of vessels, equipment and other operating assets for the three and nine months ended September 30, 2017 and 2016 : Net Loss on Sale of Vessels, Equipment and Other Assets Three Months Ended September 30, Segment Asset Type Completion of Sale Date 2017 2016 Teekay Tankers Segment - Conventional Tankers 2 Aframaxes (1) (7,926 ) — Teekay Tankers Segment - Conventional Tankers MR Tanker Aug-2016 — (7,903 ) Other — 65 Total (7,926 ) (7,838 ) Loss on Sale of Vessels, Equipment and Other Assets Nine Months Ended September 30, Segment Asset Type Completion of Sale Date 2017 2016 Teekay LNG Segment - Conventional Tankers Suezmax (2) (12,600 ) — Teekay Tankers Segment - Conventional Tankers 3 Aframaxes (1) (10,669 ) — Teekay Tankers Segment - Conventional Tankers Suezmax Mar-2017 (1,469 ) — Teekay LNG Segment - Conventional Tankers 2 Suezmaxes Apr/May-2016 — (27,439 ) Teekay Parent Segment - Conventional Tankers VLCC Tanker Oct-2016 — (12,536 ) Teekay Tankers Segment - Conventional Tankers 2 MR Tankers Aug/Nov-2016 — (14,323 ) Other (357 ) (115 ) Total (25,095 ) (54,413 ) (1) Two vessels were sold and delivered to their respective buyers in June and September 2017 and another vessel is classified as held for sale at September 30, 2017. (2) Teekay LNG has commenced marketing the vessel for sale and the vessel is classified as held for sale at September 30, 2017. c) Write-Down of Equity Investment On May 31, 2017, Teekay Tankers entered into a merger agreement (or the Merger Agreement ) to acquire the remaining 27.0 million issued and outstanding common shares of Tanker Investments Ltd. (or TIL ), by way of a share-for-share exchange of 3.3 shares of Teekay Tankers Class A common stock for each outstanding share of TIL common stock. Teekay Tankers and Teekay currently own approximately 3.4 million and 2.5 million common shares, or 11.3% and 8.2% of TIL, respectively. As the Company accounts for its current investment in TIL under the equity method of accounting, the Company will be required to remeasure its previously held equity investment to fair value at the acquisition date. Historically, the Company had not recognized an other than temporary impairment in its equity investment in TIL as the Company expected to recover its value over the anticipated hold period. Based on the pending transaction, the Company has recognized an other than temporary impairment and remeasured its investment in TIL to fair value at June 30, 2017 based on the TIL share price at that date, resulting in a write-down of $48.6 million included in the Company's consolidated statements of (loss) income , and included in equity income (loss), for the nine months ended September 30, 2017. When the merger transaction is completed, the Company is required to again remeasure its equity investment in TIL to fair value based on the relative share exchange value at the date of the acquisition, which could result in an additional gain or loss. On November 17, 2017, the TIL shareholders approved the merger and the Teekay Tankers’ shareholders approved an increase in the authorized number of Teekay Tankers’ Class A common shares, to permit the issuance of Class A common shares as merger consideration. Subject to the completion of the remaining closing conditions, the Company expects the merger to close on or about November 27, 2017. Upon the closing of the merger, TIL will become a wholly-owned subsidiary of Teekay Tankers.

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt September 30, 2017 December 31, 2016 $ $ Revolving Credit Facilities 884,749 1,119,808 Senior Notes (8.5%) due January 15, 2020 592,657 592,657 Norwegian Kroner-denominated Bonds due through 2021 389,320 628,257 U.S. Dollar-denominated Term Loans due through 2028 1,264,070 3,702,997 U.S. Dollar Bonds due through 2024 — 466,680 Euro-denominated Term Loans due through 2023 233,764 219,733 Other U.S. Dollar-denominated loan 10,000 — Total Principal 3,374,560 6,730,132 Unamortized discount and debt issuance costs (26,048 ) (90,586 ) Total debt 3,348,512 6,639,546 Less current portion (727,434 ) (998,591 ) Long-term portion 2,621,078 5,640,955 As of September 30, 2017 , the Company had seven revolving credit facilities (or the Revolvers ) available, which, as at such date, provided for aggregate borrowings of up to $1.1 billion , of which $0.2 billion was undrawn. Interest payments on the loans under the Revolvers are based on LIBOR plus margins; at September 30, 2017 and December 31, 2016 , the margins ranged between 0.45% and 4.00% . The aggregate amount available under the Revolvers is scheduled to decrease by $24.9 million (remainder of 2017 ), $741.6 million ( 2018 ), $ nil ( 2019 ), $ nil ( 2020 ) and $292.7 million (thereafter). The Revolvers are collateralized by first-priority mortgages granted on 39 of the Company’s vessels, together with other related security, and include a guarantee from Teekay or its subsidiaries for all outstanding amounts. Included in other security are 38.2 million common units of Teekay Offshore, 25.2 million common units of Teekay LNG, and 16.8 million Class A common shares in Teekay Tankers, which secure a $200.0 million credit facility. Five other revolving credit facilities as of December 31, 2016 totaling $291.8 million as of that date, related to Teekay Offshore, which was deconsolidated in September 2017. The Company’s 8.5% senior unsecured notes are due January 15, 2020 with an original principal amount of $450 million (the Original Notes ). The Original Notes issued on January 27, 2010 were sold at a price equal to 99.181% of par. In November 2015, the Company issued an aggregate principal amount of $200 million of the Company’s 8.5% senior unsecured notes due on January 15, 2020 (or the Notes ) at 99.01% of face value, plus accrued interest from July 15, 2015. The Notes are an additional issuance of the Company's Original Notes (cumulatively referred to as the 8.5% Notes ). The Notes were issued under the same indenture governing the Original Notes, and are fungible with the Original Notes. The discount on the 8.5% Notes is accreted through the maturity date of the notes using the effective interest rate of 8.670% per year. 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 September 30, 2017 , the unamortized balance of the capitalized issuance cost was $4.3 million which is recorded in long-term debt in the unaudited 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. Teekay LNG has a total of NOK 3.1 billion in senior unsecured bonds in the Norwegian bond market at September 30, 2017 that mature through October 2021. As of September 30, 2017 , the total carrying amount of the senior unsecured bonds was $ 389.3 million . The bonds are listed on the Oslo Stock Exchange. The interest payments on the bonds are based on NIBOR plus margins which range from 3.70% to 6.00% . 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 5.92% to 7.72% , and the transfer of the principal amount fixed at $430.5 million upon maturity in exchange for NOK 3.1 billion (see Note 14 ). Three other senior unsecured NOK bonds as of December 31, 2016 with a total carrying amount of $256.9 million as of that date related to Teekay Offshore, which was deconsolidated in September 2017. As of September 30, 2017 , the Company had eight U.S. Dollar-denominated term loans outstanding, which totaled $1.3 billion in aggregate principal amount ( December 31, 2016 – $3.7 billion ). Interest payments on the term loans are based on LIBOR plus a margin . At September 30, 2017 , the margins ranged between 0.30% and 2.8% ( December 31, 2016 , the margins ranged between 0.30% and 3.5% ). 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 eight of the term loans have balloon or bullet repayments due at maturity. The term loans are collateralized by first-priority mortgages on 16 ( December 31, 2016 – 46 ) of the Company’s vessels, together with certain other security. In addition, at December 31, 2016 , all but $56.2 million of the outstanding term loans were guaranteed by Teekay or its subsidiaries. Fifteen term loans as of December 31, 2016 of $2.2 billion as of that date related to Teekay Offshore, which was deconsolidated in September 2017. During May 2014, Teekay Offshore issued $300 million of five -year senior unsecured bonds that mature in July 2019 in the U.S. bond market. In September 2013 and November 2013, Teekay Offshore issued a total of $174.2 million of ten -year senior bonds that mature in December 2023 in a U.S. private placement. In February 2015, Teekay Offshore issued $30.0 million in senior bonds that mature in June 2024 in a U.S. private placement. These three senior U.S. Dollar bonds as of December 31, 2016 with a total carrying value of $466.7 million as of that date related to Teekay Offshore, which was deconsolidated in September 2017. Teekay LNG has two Euro-denominated term loans outstanding, which, as at September 30, 2017 , totaled 197.9 million Euros ( $233.8 million ) ( December 31, 2016 – 208.9 million Euros ( $219.7 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 margins. At September 30, 2017 and December 31, 2016 , the margins ranged between 0.60% and 2.25% . 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 the Euro-denominated term loans and the 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 (losses) gains of $(2.6) million (2016 - $6.1 million ) and $(22.9) million (2016 - $(19.6) million ) during the three and nine months ended September 30, 2017 and 2016, respectively. The weighted-average interest rate on the Company’s aggregate long-term debt as at September 30, 2017 was 4.2% ( December 31, 2016 – 4.0% ). This rate does not include the effect of the Company’s interest rate swap agreements (see Note 14 ). Teekay has guaranteed obligations pursuant to certain credit facilities of Teekay Tankers. As at September 30, 2017 , the aggregate outstanding balance on such credit facilities was $139.2 million . In September 2017, as part of the Brookfield Transaction (see Note 3), Teekay was released from all of its previous guarantees relating to Teekay Offshore's long-term debt and interest rate swap and cross currency swap agreements. The aggregate annual long-term debt principal repayments required to be made by the Company subsequent to September 30, 2017 , including the impact of the debt refinancing by Teekay LNG in November 2017 (see note 17), are $0.1 billion (remainder of 2017 ), $1.1 billion ( 2018 ), $0.2 billion ( 2019 ), $1.0 billion ( 2020 ), $0.6 billion ( 2021 ) and $0.4 billion (thereafter). Among other matters, the Company’s long-term debt agreements generally provide for maintenance of minimum consolidated financial covenants and four loan agreements require the maintenance of vessel market value to loan ratios. As at September 30, 2017 , these ratios ranged from 116.4% to 232.0% compared to their minimum required ratios of 105.0% to 135.0% . 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 LNG/LPG carrier and conventional tanker markets 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 September 30, 2017 and December 31, 2016 , this amount was $50.0 million for the Company, excluding Teekay LNG. 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 of 5.0% of total debt for either Teekay Parent or Teekay Tankers, which as at September 30, 2017 , such amounts were $47.3 million and $39.8 million , respectively. In addition, certain loan agreements require Teekay LNG to maintain a minimum level of tangible net worth and liquidity, and not exceed a maximum level of financial leverage. As at September 30, 2017 , the Company was in compliance with all covenants under its credit facilities and other long-term debt.

Capital Stock

Capital Stock	9 Months Ended
Capital Stock	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Capital Stock	Capital Stock The authorized capital stock of Teekay at September 30, 2017 and December 31, 2016 was 25 million shares of preferred stock, with a par value of $1 per share, and 725 million shares of common stock, with a par value of $0.001 per share. As at September 30, 2017 , Teekay had no shares of preferred stock issued. During the nine months ended September 30, 2017 , Teekay issued 0.1 million shares of common stock pursuant to stock options, restricted stock units and restricted stock awards. During the nine months ended September 30, 2017 and 2016 , the Company granted 732,314 and 916,015 stock options with exercise prices of $10.18 and $9.44 per share, respectively, 344,319 and 238,609 restricted stock units with fair values of $3.5 million and $2.3 million , respectively, nil and 311,691 performance share units with fair values of $ nil and $3.6 million , respectively, and 89,387 and 67,000 shares of restricted stock awards with fair values of $0.9 million and $0.6 million , respectively, to certain of the Company’s employees and directors. Each stock option has a ten -year term and vests equally over three years from the grant date. Each restricted stock unit, restricted stock award and performance share unit is equal 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 three years from the grant date. Upon vesting, the value of the restricted stock units, restricted stock awards and performance share units 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. The weighted-average grant-date fair value of stock options granted during March 2017 was $4.71 per stock option. The fair value of each stock option granted was estimated on the grant date using the Black-Scholes option pricing model. The following weighted-average assumptions were used in computing the fair value of the stock options granted: expected volatility of 62.4% ; expected life of 5.5 years; dividend yield of 2.5% ; risk-free interest rate of 2.0% ; and estimated forfeiture rate of 7.4% . The expected life of the stock 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. Share-based Compensation of Subsidiaries During the nine months ended September 30, 2017 and 2016 , 56,950 and 76,084 common units of Teekay Offshore, 17,345 and 32,723 common units of Teekay LNG and nil and 9,358 shares of Class A common stock of Teekay Tankers, respectively, with aggregate values of $0.6 million and $0.7 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 2017 and 2016 . 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 2017 and 2016, Teekay Offshore and Teekay LNG granted phantom unit awards and Teekay Tankers granted restricted stock-based compensation awards with respect to 321,318 and 601,368 common units of Teekay Offshore, 60,809 and 132,582 common units of Teekay LNG and 382,437 and 279,980 Class A common shares of Teekay Tankers, respectively, with aggregate grant date fair values of $3.5 million and $4.9 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. 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 2017, Teekay Tankers granted 486,329 and 396,412 stock options with an exercise price of $2.23 per share to officers and non-management directors of Teekay Tankers, respectively. Each stock option granted in March 2017 has a ten -year term and vests equally over three years from the grant date. During March 2016, Teekay Tankers granted 216,043 stock options with an exercise price of $3.74 per share to an officer of Teekay Tankers. Each stock option granted in March 2016 has a ten -year term and vests equally over three years from the grant date.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies a. Vessels Under Construction As at September 30, 2017 , the Company was committed to the construction of eight LNG carriers for a total cost of approximately $1.7 billion , including 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 in Note 10b. Two LNG carriers are scheduled for delivery in late-2017, four LNG carriers are scheduled for delivery in 2018 and two LNG carriers are scheduled for delivery in 2019 . As at September 30, 2017 , payments made towards these commitments totaled $0.5 billion . As at September 30, 2017 , the remaining payments required to be made under these newbuilding and conversion capital commitments were $377.0 million (remainder of 2017 ), $536.7 million ( 2018 ), and $252.1 million ( 2019 ). b. Joint Ventures and Equity-Accounted Investments Teekay LNG’s share of commitments to fund newbuilding and other construction contract costs of its equity-accounted joint ventures as at September 30, 2017 are as follows: Total Remainder of 2017 2018 2019 2020 $ $ $ $ $ Equity-accounted joint ventures (i) 1,183,589 110,937 556,064 318,683 197,905 (i) The commitment amounts relating to Teekay LNG’s share of costs for newbuilding and other construction contracts in Teekay LNG’s equity-accounted joint ventures are based on Teekay LNG’s ownership percentage in each respective joint venture as of September 30, 2017 . These commitments are described in more detail in Note 15 of the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year-ended December 31, 2016 . As of September 30, 2017 , based on the Teekay LNG's ownership percentage in each respective joint venture, Teekay LNG's equity-accounted joint ventures have secured $336 million of financing related to the remaining commitments included in the table above. c. Liquidity Management is required to assess if the Company will have sufficient liquidity to continue as a going concern for the one-year period following the issuance of its financial statements. The Company had a consolidated net loss of $496.8 million and consolidated cash flows from operating activities of $411.5 million during the nine months ended September 30, 2017 , and ended the third quarter of 2017 with a working capital deficit of $373.6 million . This working capital deficit primarily relates to the scheduled maturities in the next 12 months and repayments of approximately $0.7 billion of outstanding consolidated debt, which amount was classified as current liabilities as at September 30, 2017 . In addition to these obligations, the Company also anticipates that Teekay LNG will be required to make payments related to commitments to fund vessels under construction (see Notes 10a and 10b). Based on these factors, over the one-year period following the issuance of their unaudited consolidated financial statements, the Company’s consolidated subsidiaries, Teekay Tankers and Teekay LNG, will need to obtain additional sources of financing, in addition to amounts generated from operations, to meet their minimum liquidity requirements under their financial covenants related to these subsidiaries. These anticipated potential sources of financing include: refinancing various loan facilities of Teekay Tankers and Teekay LNG; negotiating new secured debt financings related to vessels under construction or other unencumbered operating vessels for Teekay LNG; raising additional capital through equity and bond issuances; and negotiating extensions or redeployments of existing assets. Teekay Tankers recently announced a proposed merger with TIL which, upon completion, is expected to increase Teekay Tankers' liquidity. The success of these initiatives of the Daughter Companies may impact the liquidity of Teekay Parent as a result of certain guarantees provided by Teekay Parent and through the payment of dividends/distributions by the Daughter Companies to Teekay Parent. The Company is actively pursuing the alternatives described above, which it considers probable of completion based on the Company’s history of being able to complete equity and bond issuances, refinance similar loan facilities and to obtain new debt financing for its vessels under construction, as well as the progress it has made on the financing process to date. The Company is in various stages of completion on these matters. Based on the Company’s liquidity at the date these unaudited consolidated financial statements were issued, the liquidity the Company expects to generate from operations over the following year, and by incorporating the Company’s plans to raise additional liquidity that it considers probable of completion, the Company expects that it will have sufficient liquidity to continue as a going concern for at least the one-year period following the issuance of these unaudited consolidated financial statements. d. 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. Class Action Complaint Following the Company’s announcement in December 2015 that Teekay's Board of Directors had reduced the Company’s quarterly dividend to $0.055 per share, down from a dividend of $0.55 per share in 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. As a result of the Company's motion to transfer the action, the case was transferred to the U.S. District Court for the Western District of Washington on November 18, 2016. The lead plaintiff in the action filed an Amended Class Action Complaint on January 13, 2017. The Amended Complaint includes claims that the Company and certain of its officers violated Section 10(b) of the U.S. Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Amended Complaint alleges that the Company and certain of its officers violated U.S. federal securities laws by making materially false and misleading statements regarding the Company’s ability and intention to increase its future dividends beyond the initial dividend increase to $0.55 per share that the Company announced in September 2014 and first declared in the second quarter of 2015, thereby artificially inflating the price of its common stock. The lead plaintiff is seeking unspecified monetary damages, including reasonable costs and expenses incurred in this action. The Court held a hearing on the motion to dismiss on October 25, 2017. On November 7, 2017, the Court ruled in the Company's favor on all claims and dismissed the Amended Complaint with prejudice. Teekay Nakilat Capital Lease Teekay LNG owns 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 the three LNG carriers (or the RasGas II LNG Carriers ). Under the terms of the leasing arrangements in respect of the RasGas II LNG Carriers, the lessor claimed tax depreciation on the capital expenditures it incurred to acquire these vessels. As is typical in these leasing arrangements, tax and change of law risks were assumed by the lessee, in this case the Teekay Nakilat Joint Venture. Lease payments under the lease arrangements were based on certain tax and financial assumptions at the commencement of the leases and subsequently adjusted to maintain its agreed after-tax margin. On December 22, 2014, the Teekay Nakilat Joint Venture terminated the leasing arrangements of the RasGas II LNG Carriers. However, the Teekay Nakilat Joint Venture remains obligated to the lessor to maintain the lessor’s agreed after-tax margin from the commencement of the lease to the lease termination date and placed $6.8 million on deposit with the lessor as security against any future claims, which deposit is recorded as part of restricted cash - non-current in the Company's unaudited consolidated balance sheets. The UK taxing authority (or HMRC ) has been challenging the use of similar lease structures in the UK courts. One of those challenges was eventually decided in favor of HMRC (Lloyds Bank Equipment Leasing No. 1 or LEL1 ), with the lessor and lessee choosing not to appeal the decision further. The LEL 1 tax case concluded that capital allowances were not available to the lessor. On the basis of this conclusion, HMRC is now asking lessees on other leases, including the Teekay Nakilat Joint Venture, to accept that capital allowances are not available to their lessor. The Teekay Nakilat Joint Venture does not accept this contention and has informed HMRC of this position. It is not known at this time whether the Teekay Nakilat Joint Venture would eventually prevail in court. If the former lessor of the RasGas II LNG Carriers were to lose on a similar claim from HMRC, Teekay LNG’s 70% share of the potential exposure is estimated to be approximately $42 million . Such estimate is primarily based on information received from the lessor. e. Redeemable Non-Controlling Interest In July 2015, Teekay Offshore issued in a private placement 10.4 million of its 8.60% Series C Cumulative Convertible Perpetual Preferred Units (or Series C Preferred Units ) in a private placement. The terms of the Series C Preferred Units provided that at any time after the 18 -month anniversary of the closing date, at the election of each holder, the Series C Preferred Units could be converted on a one -for- one basis into common units of Teekay Offshore. In addition, if after the three -year anniversary of the closing date, the volume weighted average price of the common units exceeded $35.925 , Teekay Offshore had the option to convert the Series C Preferred Units into common units. The Series C Preferred Units could be redeemed in cash if a change of control occurred in Teekay Offshore. In June 2016, Teekay Offshore and the unitholders of the Series C Preferred Units exchanged approximately 1.9 million of the Series C Preferred Units for approximately 8.3 million common units of Teekay Offshore and also exchanged the remaining approximately 8.5 million Series C Preferred Units for approximately 8.5 million Series C-1 Preferred Units. The terms of the Series C-1 Preferred Units were equivalent to the terms of the Series C Preferred Units, with the exception that at any time after the 18 -month anniversary of the original Series C Preferred Units closing date, at the election of each holder, each Series C-1 Preferred Unit was convertible into 1.474 common units of Teekay Offshore. In addition, if a unitholder of the Series C-1 Preferred Units elected to convert their Series C-1 Preferred Units into common units of Teekay Offshore, Teekay Offshore had the option to redeem these Series C-1 Preferred Units for cash based on the closing market price of the common units of Teekay Offshore instead of issuing common units. Furthermore, if after the three -year anniversary of the closing date, the volume weighted average price of the common units exceeded 150% of $16.25 per unit, Teekay Offshore had the option to convert the Series C-1 Preferred Units into common units. Consistent with the terms of the Series C Preferred Units, the Series C-1 Preferred Units might have been redeemed in cash if a change of control occurred in Teekay Offshore. As a result, the Series C-1 Preferred Units were, prior to the deconsolidation of Teekay Offshore in September 2017, included on the Company’s unaudited consolidated balance sheet as part of temporary equity which is above the equity section but below the liabilities section. In June 2016, Teekay Offshore issued 4.0 million of its 10.50% Series D Cumulative Convertible Perpetual Preferred Units (or Series D Preferred Units ). The Series D Preferred Units had no mandatory redemption date, but they were redeemable at Teekay Offshore's option after June 29, 2021 for a 10% premium to the liquidation value and for a 5% premium to the liquidation value any time after June 29, 2022. The Series D Preferred Units were exchangeable into common units of Teekay Offshore at the option of the holder at any time after June 29, 2021, based on the 10 -trading day volume weighted average price at the time of the notice of exchange or $4.00 . A change of control event involving the purchase of all outstanding common units for consideration of at least 90% cash or a change in ownership of the general partner of Teekay Offshore by 50% or more would have resulted in the Series D Preferred Units being redeemable for cash. As a result, the Series D Preferred Units, net of Teekay's units, were, prior to the deconsolidation of Teekay Offshore in September 2017, included on the Company’s unaudited consolidated balance sheet as part of temporary equity which is above the equity section but below the liabilities section. As part of the Brookfield Transaction (see Note 3), Teekay Offshore repurchased and cancelled all of its outstanding Series C-1 and Series D Preferred Units. f. 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.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments a. Fair Value Measurements For a description of how the Company estimates fair value and for a description of the fair value hierarchy levels, see Note 10 in the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year ended December 31, 2016 . 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 fair value on a recurring basis. September 30, 2017 December 31, 2016 Fair Value Hierarchy Level Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Recurring Cash and cash equivalents, restricted cash, and marketable securities Level 1 556,194 556,194 805,567 805,567 Derivative instruments (note 14) Interest rate swap agreements – assets (1) Level 2 3,100 3,100 7,943 7,943 Interest rate swap agreements – liabilities (1) Level 2 (86,493 ) (86,493 ) (302,935 ) (302,935 ) Cross currency interest swap agreement (1) Level 2 (41,268 ) (41,268 ) (237,165 ) (237,165 ) Foreign currency contracts Level 2 537 537 (2,993 ) (2,993 ) Stock purchase warrants Level 3 32,135 32,135 575 575 Time-charter swap agreement Level 3 — — 208 208 Freight forward agreements Level 1 (79 ) (79 ) — — Non-recurring Vessels and equipment Level 3 130,200 130,200 11,300 11,300 Vessels held for sale Level 2 6,400 6,400 61,282 61,282 Vessels under capital leases Level 3 52,914 52,914 — — Long-term investments Level 2 — — 6,000 6,000 Other Loans to equity-accounted investees and joint venture partners – Current (2) 165,118 (2 ) 11,821 (2 ) Loans to equity-accounted investees and joint venture partners – Long-term (2) 145,804 (2 ) 292,209 (2 ) Long-term receivable included in accounts receivable and other assets (3) Level 3 5,028 5,004 10,985 10,944 Long-term debt – public (note 8) Level 1 (974,349 ) (996,360 ) (1,503,472 ) (1,409,996 ) Long-term debt – non-public (note 8) Level 2 (2,374,163 ) (2,334,229 ) (5,136,074 ) (5,009,900 ) Obligations related to capital leases, including current portion Level 2 (150,956 ) (150,671 ) — — (1) The fair value of the Company's interest rate swap and cross currency swap agreements at September 30, 2017 includes $3.0 million ( December 31, 2016 - $15.8 million ) accrued interest expense which is recorded in accrued liabilities on the unaudited consolidated balance sheets. (2) In the unaudited interim 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. The fair value of the individual components of such aggregate interests is not determinable. (3) As at September 30, 2017 , the estimated fair value of the non-interest bearing receivable from Royal Dutch Shell plc (or Shell ) is based on the remaining future fixed payments as well as an estimated discount rate. The estimated fair value of this receivable as of September 30, 2017 was $5.0 million ( December 31, 2016 – $10.9 million ) using a discount rate of 8.0% . As there is no market rate for the equivalent of an unsecured non-interest bearing receivable from Shell, the discount rate is based on unsecured debt instruments of similar maturity held by the Company, adjusted for a liquidity premium. A higher or lower discount rate would result in a lower or higher fair value asset. Time-charter swap agreement - Changes in fair value during the three and nine months ended September 30, 2017 for Teekay Tankers' time-charter swap agreement, which is described in Note 14 below and was measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Nine Months Ended September 30, 2017 $ Fair value asset - beginning of the period 875 Settlements (1,106 ) Realized and unrealized gain 231 Fair value asset - at the end of the period — The estimated fair value of the time-charter swap agreement was based in part upon the Company’s projection of future Aframax spot market tanker rates, which were derived from current Aframax spot market tanker rates and estimated future rates, as well as an estimated discount rate. The time-charter swap agreement ended on April 30, 2017. Stock purchase warrants - As at September 30, 2017 , Teekay held 14.5 million Brookfield Transaction Warrants (see Note 3). The Brookfield Transaction Warrants allow the holders to acquire one common unit of Teekay Offshore for each Brookfield Transaction Warrant for an exercise price of $0.01 per common unit, which warrants become exercisable when Teekay Offshore's common unit volume-weighted average price is equal to or greater than $4.00 per common unit for 10 consecutive trading days until September 25, 2024. The fair value of the Brookfield Transaction Warrants was $34.7 million and $30.5 million on September 25, and September 30, 2017, respectively. As of September 30, 2017 , in addition to the Brookfield Transaction Warrants, Teekay held a total of 1,755,000 warrants to purchase common units of Teekay Offshore that were issued in connection with Teekay Offshore's private placement of Series D Preferred Units in June 2016 (or the Series D Warrants ) with an exercise price of $4.55 , which have a seven -year term and are exercisable any time after six months following their issuance date. The Series D Warrants will be net settled in either cash or common units at Teekay Offshore’s option. The fair value of the Series D Warrants was $1.9 million and $1.6 million on September 25, and September 30, 2017, respectively. The estimated fair value of the Brookfield Transaction Warrants and the Series D Warrants was determined using a Black-Scholes pricing model and is based, in part, on the historical price of common units of Teekay Offshore, the risk-free rate, vesting conditions and the historical volatility of Teekay Offshore. The estimated fair value of these Brookfield Transaction Warrants and Series D Warrants as of September 30, 2017 was based on the historical volatility of Teekay Offshore's common units of 84.2% . A higher or lower volatility would result in a higher or lower fair value of this derivative asset. During January 2014, the Company received from TIL stock purchase warrants entitling it to purchase up to 1.5 million shares of common stock of TIL (see Note 14). In May 2017, Teekay Tankers entered into the Merger Agreement with TIL. Under the terms of the Merger Agreement, warrants to purchase or acquire shares of common stock of TIL that have not been exercised as of the effective time of the merger, will be cancelled. As a result, no value is recorded for this warrant in the Company's balance sheet at September 30, 2017 . Changes in fair value during the three and nine months ended September 30, 2017 and 2016 for the Company’s Brookfield Transaction Warrants, Series D Warrants and the TIL stock purchase warrants, which are described above and were measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Fair value at the beginning of the period — 1,833 575 10,328 Fair value on issuance 36,596 — 36,596 — Unrealized loss included in earnings (4,461 ) (399 ) (5,036 ) (8,894 ) Fair value at the end of the period 32,135 1,434 32,135 1,434 Vessels and equipment – In September 2017, the Company determined that two FPSO units, the Petrojarl Foinaven FPSO and the Petrojarl Banff FPSO, were impaired and wrote down the carrying values of the units to their estimated fair values, which in aggregate was approximately $113 million (see note 7a). The Company has determined the discounted cash flows using the current projected time charter rates and costs, discounted at an estimated market participant rate of 10% . For both units, the Company has included the existing contracted time charter rates and operating costs as well as projected future use on another field. The projected future use of each of the FPSO units takes into consideration the Company’s estimated upgrade costs and projected time charter rates that could be contracted in future periods. In establishing these estimates, the Company has considered current discussions with potential customers, available information regarding field expansions and historical experience redeploying FPSO units. b. Financing Receivables The following table contains a summary of the Company’s financing receivables by type of borrower and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis. Class of Financing Receivable Credit Quality Indicator Grade September 30, 2017 December 31, 2016 $ $ Direct financing leases Payment activity Performing 633,805 660,594 Other loan receivables Loans to equity-accounted investees and joint venture partners Other internal metrics Performing 310,922 304,030 Long-term receivable included in other assets Payment activity Performing 11,577 17,712 956,304 982,336

Restructuring Charges

Restructuring Charges	9 Months Ended
Restructuring Charges	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges During the three and nine months ended September 30, 2017 , the Company recorded restructuring charges of $ 2.9 million and $5.1 million , respectively. The restructuring charges primarily related to: severance costs resulting from the termination of the charter contract for the Arendal Spirit UMS in Teekay Offshore and the resulting decommissioning of the unit; reorganization and realignment of resources of certain of the Company's strategic development function to better respond to the changing business environment; and reorganization of the Company's FPSO business to create better alignment with the Company's offshore operations. During the three and nine months ended September 30, 2016 , the Company recorded restructuring charges of $3.1 million and $22.9 million , respectively. The restructuring related to the closure of two offices and seafarers' severance amounts related to a tug business in Western Australia, reorganization of the Company's FPSO business to create better alignment with the Company's offshore operations, and reductions to charges previously accrued. The charges related to the seafarers' severance were partly recovered from the customer and the recovery is included in revenues on the unaudited consolidated statements of (loss) income . At September 30, 2017 and December 31, 2016 , $1.4 million and $5.6 million , respectively, of restructuring liabilities were recorded in accrued liabilities on the unaudited consolidated balance sheets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
Accumulated Other Comprehensive Loss	Sep. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss As at September 30, 2017 and December 31, 2016 , the Company’s accumulated other comprehensive loss (or AOCI ) consisted of the following components: September 30, December 31, 2017 2016 $ $ Unrealized loss on qualifying cash flow hedging instruments 398 (41 ) Pension adjustments, net of tax recoveries (12,332 ) (12,160 ) Unrealized gain (loss) on marketable securities 22 (416 ) Foreign exchange gain on currency translation 2,683 2,014 (9,229 ) (10,603 )

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
Derivative Instruments and Hedging Activities	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	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 September 30, 2017 , the Company was committed to the following foreign currency forward contracts: Fair Value / Expected Maturity Contract Amount in Average (1) 2017 2018 $ $ Norwegian Kroner 130,000 8.24 537 3,616 12,153 (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 amounts of the Company’s NOK-denominated bonds due in 2018, 2020 and 2021. In addition, the cross currency swaps economically hedge the interest rate exposure on the NOK bonds due in 2018, 2020 and 2021. The Company has not designated, for accounting purposes, these cross currency swaps as cash flow hedges of its NOK-denominated bonds due in 2018, 2020 and 2021. As at September 30, 2017 , the Company was committed to the following cross currency swaps: Fair Value / Notional Notional Floating Rate Receivable Reference Margin Fixed Rate Remaining 900,000 150,000 NIBOR 4.35% 6.43% (39,088 ) 0.9 1,000,000 134,000 NIBOR 3.70% 5.92% (9,862 ) 2.6 1,200,000 146,500 NIBOR 6.00% 7.70% 7,682 4.1 (41,268 ) 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 September 30, 2017 , 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 Rate Index Principal Amount Fair Value / Carrying Amount of Asset / (Liability) $ Weighted- Fixed Interest Rate (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 1,014,701 (31,522 ) 5.2 2.8 U.S. Dollar-denominated interest rate swaps (3) LIBOR 331,933 (20,538 ) 1.8 3.4 U.S. Dollar-denominated interest rate swaption (4) LIBOR 160,000 (535 ) 0.3 2.0 U.S. Dollar-denominated interest rate swaption (4) LIBOR 160,000 15 0.3 3.1 EURIBOR-Based Debt: Euro-denominated interest rate swaps (5) (6) EURIBOR 233,763 (30,813 ) 3.2 3.1 (83,393 ) (1) Excludes the margins the Company pays on its variable-rate debt, which, as of September 30, 2017 , ranged from 0.3% to 4.0% . (2) Includes interest rate swaps with the notional amount reducing quarterly or semi-annually. (3) Forward-starting interest rate swaps with inception dates ranging from October 2017 to April 2018. Interest rate swaps are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2017 to 2024 . These interest rate swaps are subject to mandatory early termination in 2018 and 2020 whereby the swaps will be settled based on their fair value at that time. (4) 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 rate 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. (5) Principal amount reduces monthly to 70.1 million Euros ( $82.8 million ) by the maturity dates of the swap agreements. (6) Principal amount is the U.S. Dollar equivalent of 197.9 million Euros. Stock Purchase Warrants During September 2017 , as part of the Brookfield Transaction (see Note 3), Teekay was released from all of its previous guarantees relating to Teekay Offshore's interest rate swap and cross currency swap agreements. As at September 30, 2017 , Teekay held 14.5 million Brookfield Transaction Warrants (see Notes 3 and 11). The fair value of the Brookfield Transaction Warrants were $34.7 million and $30.5 million on September 25, and September 30, 2017, respectively. As of September 30, 2017 , Teekay held 1,755,000 Series D Warrants (see Notes 3 and 11). The fair value of the Series D Warrants were $1.9 million and $1.6 million on September 25, and September 30, 2017, respectively. As of September 30, 2017, Teekay held 1,500,000 TIL common stock purchase warrants. Upon completion of the merger pursuant to the Merger Agreement (see Note 7c), the TIL stock purchase warrants will be cancelled. As a result, no value is recorded for this warrants on the Company's unaudited balance sheet as at September 30, 2017 (see Note 11 ). Time-charter Swap Agreement Effective June 1, 2016, Teekay Tankers entered into a time-charter swap agreement for 55% of two Aframax-equivalent vessels. Under such agreement, Teekay Tankers received $27,776 per day, net of a 1.25% brokerage commission, and paid 55% of the net revenue distribution of two Aframax-equivalent vessels employed in Teekay Tankers' Aframax revenue sharing arrangement, less $500 per day, for a period of 11 months plus an additional two months at the counterparty's option. The purpose of the agreement was to reduce Teekay Tankers’ exposure to spot tanker market rate variability for certain of its vessels that were employed in the Aframax revenue sharing arrangement. Teekay Tankers did not designate, for accounting purposes, the time-charter swap as a cash flow hedge. The fair value of the time-charter swap agreement at September 30, 2017 was $ nil ( December 31, 2016 - an asset of $0.2 million ). As of May 1, 2017, the time-charter swap counter-party did not exercise the two -month option and the agreement expired during May 2017. Forward Freight Agreements Teekay Tankers uses forward freight agreements (or FFAs ) in non-hedge-related transactions to increase or decrease its exposure to spot market rates, within defined limits. Net gains and losses from FFAs are recorded within realized and unrealized (loss) gain on non-designated derivative instruments in the Company's unaudited consolidated statements of (loss) income . The fair value of the forward freight agreement at September 30, 2017 was a liability of $ 0.1 million . Tabular Disclosure The following table presents the location and fair value amounts of derivative instruments, segregated by type of contract, on the Company’s unaudited consolidated balance sheets. Prepaid Expenses and Other Other Non-Current Assets Accrued Liabilities and Other Current Portion of Derivative Liabilities Derivative Liabilities $ $ $ $ $ As at September 30, 2017 Derivatives designated as a cash flow hedge: Interest rate swap agreements — 587 (25 ) (1,366 ) (605 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 537 — — — — Interest rate swap agreements 220 3,069 (2,256 ) (28,978 ) (54,039 ) Cross currency swap agreements — 8,688 (700 ) (41,612 ) (7,644 ) Stock purchase warrants — 32,135 — — — Forward freight agreements 29 — (108 ) — — 786 44,479 (3,089 ) (71,956 ) (62,288 ) As at December 31, 2016 Derivatives designated as a cash flow hedge: Interest rate swap agreements — 1,340 (363 ) (1,033 ) (52 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 119 — — (2,601 ) (511 ) Interest rate swap agreements 212 9,839 (11,979 ) (59,055 ) (233,901 ) Cross currency swap agreements — — (3,464 ) (53,124 ) (180,577 ) Stock purchase warrants — 575 — — — Time-charter swap agreement 875 — (667 ) — — 1,206 11,754 (16,473 ) (115,813 ) (415,041 ) As at September 30, 2017 , 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 unaudited consolidated balance sheets. As at September 30, 2017 , these derivatives had an aggregate fair value asset amount of $11.3 million and an aggregate fair value liability amount of $85.8 million . As at September 30, 2017 , the Company had $14.2 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 unaudited consolidated balance sheets. 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 (excluding such agreements in equity-accounted investments): Three Months Ended September 30, 2017 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) $ $ $ (115) (424) (7) Interest expense (115) (424) (7) Three Months Ended September 30, 2016 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) 1,482 — (3) Interest expense 1,482 — (3) Nine Months Ended September 30, 2017 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) $ $ $ (1,677) (1,186) (762) Interest expense (1,677) (1,186) (762) Nine Months Ended September 30, 2016 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) (12,543) — (59) Interest expense (12,543) — (59) (1) Recognized in accumulated other comprehensive loss (or AOCI ). (2) Recorded in AOCI during the term of the hedging relationship and reclassified to earnings. (3) Recognized in the ineffective portion of gains (losses) on derivative instruments designated and qualifying as cash flow hedges. As at September 30, 2017 , the Company estimated, based on then current interest rates, that it would reclassify approximately $0.8 million of net losses on interest rate swaps from accumulated other comprehensive loss to earnings during the next 12 months. Realized and unrealized (losses) and gains 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 unaudited consolidated statements of (loss) income . The effect of the (losses) and gains on derivatives not designated as hedging instruments in the unaudited consolidated statements of (loss) income is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Realized (losses) gains relating to: Interest rate swap agreements (15,729 ) (22,219 ) (48,199 ) (67,808 ) Interest rate swap agreement terminations — — (610 ) (8,140 ) Foreign currency forward contracts 1,609 (2,583 ) 638 (9,915 ) Time charter swap agreement — 1,096 1,106 1,222 Forward freight agreements 234 — 347 — (13,886 ) (23,706 ) (46,718 ) (84,641 ) Unrealized gains (losses) relating to: Interest rate swap agreements 11,575 47,816 5,181 (96,055 ) Foreign currency forward contracts 735 6,006 4,383 21,070 Stock purchase warrants (4,461 ) (398 ) (5,036 ) (8,894 ) Time charter swap agreement — 208 (875 ) 1,553 Forward freight agreements (91 ) — (108 ) — 7,758 53,632 3,545 (82,326 ) Total realized and unrealized (losses) gains on derivative instruments (6,128 ) 29,926 (43,173 ) (166,967 ) 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 (loss) income . The effect of the losses on cross currency swaps on the consolidated statements of (loss) income is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Realized losses on maturity and termination of cross currency swaps — — (25,733 ) (32,628 ) Realized losses (4,234 ) (5,612 ) (16,369 ) (15,551 ) Unrealized gains 41,653 40,019 91,749 93,232 Total realized and unrealized gains on cross currency swaps 37,419 34,407 49,647 45,053 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.

Income Tax (Expense) Recovery

Income Tax (Expense) Recovery	9 Months Ended
Income Tax (Expense) Recovery	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax (Expense) Recovery	Income Tax (Expense) Recovery The components of the provision for income tax (expense) recovery are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Current (3,410 ) (41 ) (9,355 ) (8,753 ) Deferred (1,811 ) 174 (2,412 ) 6,387 Income tax (expense) recovery (5,221 ) 133 (11,767 ) (2,366 ) The following reflects the changes in the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from January 1, 2017 to September 30, 2017 : $ Balance of unrecognized tax benefits as at January 1, 2017 19,492 Increase for positions taken in prior years 1,045 Increase for positions related to the current period 4,874 Decrease related to statute of limitations (663 ) Decrease due to deconsolidation of Teekay Offshore ( note 3 ) (1,503 ) Balance of unrecognized tax benefits as at September 30, 2017 23,245 The majority of the net increase for positions for the nine months ended September 30, 2017 relates to potential tax on freight income. The Company does not presently anticipate such unrecognized tax benefits will significantly increase or decrease in the next 12 months; however, actual developments could differ from those currently expected.

Net (Loss) Income Per Share

Net (Loss) Income Per Share	9 Months Ended
Net (Loss) Income Per Share	Sep. 30, 2017
Earnings Per Share [Abstract]
Net (Loss) Income Per Share	Net (Loss) Income Per Share Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Net (loss) income attributable to the shareholders of Teekay Corporation (12,582 ) 6,072 (137,990 ) (120,520 ) The Company's portion of the Inducement Premium and Exchange Contribution charged to retained earnings by Teekay Offshore (note 10e) — — — (4,993 ) Net (loss) income attributable to the shareholders of Teekay Corporation - basic and diluted (12,582 ) 6,072 (137,990 ) (125,513 ) Weighted average number of common shares 86,261,330 84,887,101 86,232,315 76,887,689 Dilutive effect of stock-based compensation — 86,644 — — Common stock and common stock equivalents 86,261,330 84,973,745 86,232,315 76,887,689 (Loss) income per common share: - Basic (0.15 ) 0.07 (1.60 ) (1.63 ) - Diluted (0.15 ) 0.07 (1.60 ) (1.63 ) Stock-based awards that have an anti-dilutive effect on the calculation of diluted loss per common share, are excluded from this calculation. For the three and nine months ended September 30, 2017 , options to acquire 3.9 million shares of Common Stock had an anti-dilutive effect on the calculation of diluted income per common share ( three and nine months ended September 30, 2016 - 3.8 million ). In periods where a loss attributable to shareholders of Teekay has been incurred all stock-based awards are anti-dilutive.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events a) On October 13, 2017, Teekay LNG's joint venture with China LNG, CETS Investment Management (HK) Co. Ltd. and BW LNG Investments Pte. Ltd. (or the Pan Union Joint Venture ), took delivery of its first LNG carrier newbuilding, the Pan Asia, of which Teekay LNG has a 30% ownership interest, and concurrently commenced its 20 -year charter contract with Shell. b) On October 19, 2017, Teekay LNG took delivery of an LNG carrier newbuilding, the Macoma, which concurrently commenced its six -year charter contract with Shell. c) On October 23, 2017, Teekay LNG issued 6.8 million units (including 0.8 million units issued upon partial exercise of the underwriter's over-allotment option) of its Series B Preferred Units at $25.00 per unit in a public offering for net proceeds of approximately $164 million . Distributions are payable on the Series B Preferred Units from the issuance date to October 14, 2027, at a rate of 8.5% per annum of the stated liquidation preference of $25.00 and from and after October 15, 2027, at a floating rate equal to three-month LIBOR plus a margin of 6.241% . At any time on or after October 15, 2027, Teekay LNG may redeem the Series B Preferred Units, in whole or in part, at a redemption price of $25.00 per unit plus all accumulated and unpaid distributions thereon to the date of redemption. Teekay LNG expects to use the net proceeds from the public offering for general partnership purposes, which may include debt repayments or funding installment payments on future newbuilding deliveries. The Series B Preferred Units are listed on the New York Stock Exchange. d) On November 1, 2017, Teekay LNG took delivery of an LNG carrier newbuilding, the Murex, which concurrently commenced its seven -year charter contract with Shell. e) On November 6, 2017, Teekay LNG completed a $327 million long-term debt facility to finance (a) floating storage unit (or FSU ) to be chartered on a 20 -year charter contract to the Bahrain regasification project scheduled to commence in the third quarter of 2018 and (b) one LNG carrier newbuilding to be chartered on a 13 -year charter contract with BP Plc starting in early-2019. f) On November 10, 2017, Teekay LNG refinanced its $170 million revolving credit facility, which was scheduled to mature in 2017, with a new $190 million revolving credit facility maturing in November 2018. g) On November 16, 2017, Teekay LNG cancelled the bareboat contracts on all six of Teekay LNG's LPG carriers on charter to Skaugen. Teekay LNG expects to transfer the commercial management of these vessels, in addition to the Norgas Sonoma , into a newly formed pool, the Teekay Multigas Pool L.L.C., which is owned and operated by Teekay LNG. h) On November 17, 2017, the shareholders of Teekay Tankers voted in favor of increasing the authorized number of its Class A common shares to permit the issuance of Class A common shares as consideration for the merger with TIL. Concurrently, the merger was approved by the shareholders of TIL. Subject to the completion of the remaining closing conditions, Teekay Tankers expects the merger to close on or about November 27, 2017.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The unaudited interim consolidated financial statements have been prepared in conformity with United States generally accepted accounting principles (or GAAP ). They include the accounts of Teekay Corporation (or Teekay ), which is incorporated under the laws of the Republic of the Marshall Islands, and its wholly-owned or controlled subsidiaries (collectively, the Company ). Certain of Teekay’s significant non-wholly owned subsidiaries are consolidated in these financial statements even though Teekay owns less than a 50% ownership interest in the subsidiaries. These significant subsidiaries include the following publicly traded subsidiaries (collectively, the Public Subsidiaries ): Teekay LNG Partners L.P. (or Teekay LNG ); Teekay Tankers Ltd. (or Teekay Tankers ); and, until September 25, 2017, Teekay Offshore Partners L.P. (or Teekay Offshore ). On September 25, 2017, Teekay, Teekay Offshore and Brookfield Business Partners L.P. together with its institutional partners (collectively, Brookfield ) finalized a strategic partnership (or the Brookfield Transaction ) which resulted in the deconsolidation of Teekay Offshore as of that date (see Note 3). Although Teekay owned less than 50% of Teekay Offshore, Teekay maintained control of Teekay Offshore until September 25, 2017 by virtue of its 100% ownership interest in the general partner of Teekay Offshore, which is a master limited partnership. In connection with Brookfield's acquisition of a 49 % interest in Teekay Offshore's general partner, Teekay Offshore GP LLC (or TOO GP ), Teekay and Brookfield entered into an amended limited liability company agreement whereby Brookfield obtained certain participatory rights in the management of TOO GP, which resulted in Teekay deconsolidating Teekay Offshore for accounting purposes on September 25, 2017. Subsequent to the closing of the Brookfield Transaction, Teekay has significant influence over Teekay Offshore and accounts for its investment in Teekay Offshore using the equity method. Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted and, therefore, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2016 , included in the Company’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (or SEC ) on April 12, 2017. In the opinion of management, these unaudited interim consolidated financial statements reflect all adjustments, consisting solely of a normal recurring nature, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, cash flows and changes in total equity for the interim periods presented. The results of operations for the three and nine months ended September 30, 2017 , are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation. In addition, certain of the comparative figures have been reclassified to conform to the presentation adopted in the current period relating to certain operating activities in the Company's consolidated statements of cash flows. 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 could differ from those estimates. Given current credit markets, it is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement.
Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (or FASB ) issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (or ASU 2014-09 ). ASU 2014-09 will require an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update creates a five-step model that requires entities to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue as each performance obligation is satisfied. ASU 2014-09 is effective for the Company January 1, 2018 and will be applied as a cumulative-effect adjustment as of this date. The Company expects that the adoption of ASU 2014-09 may result in a change in the method of recognizing revenue for voyage charters, whereby the Company’s method of determining proportional performance will change from discharge-to-discharge to load-to-discharge. This would result in no revenue being recognized from discharge of the prior voyage to loading of the current voyage and all revenue being recognized from loading of the current voyage to discharge of the current voyage. In addition, the Company expects that the adoption of ASU 2014-09 may result in a change in the timing of the recognition of voyage expenses incurred during the period from discharge of the prior voyage to loading of the current voyage. The Company’s current policy is to expense such costs as incurred, and following adoption of ASU 2014-09 it is expected certain costs will be deferred and amortized over the load-to-discharge period. The Company expects that these principles will also be applied to voyage charters that are included in revenue sharing arrangements and, consequently, a portion of the Company’s monthly net revenue allocation from these revenue sharing arrangements would be deferred and recognized in future months. These changes would result in revenue and voyage expenses being recognized later than under the Company’s existing revenue and expense recognition policies, which may cause additional volatility in revenue and earnings between periods. ASC 2014-09 also changes the criteria to be used in determining whether the Company is operating as a principal or an agent in an arrangement. The Company expects that it will be considered to be the principal in certain crewing services it provides to other vessel owners and consequently the revenues earned and costs incurred will be presented on a gross basis compared with its current net presentation. The Company is in the final stages of completing its assessment of ASU 2014-09 and is focused on developing process changes, determining the transitional impact and completing other items required for the adoption of ASU 2014-09. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (or ASU 2016-02 ). ASU 2016-02 establishes a right-of-use model that requires a lessee to record a right of use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company expects to adopt ASU 2016-02 on January 1, 2018 . A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the fi nancial statements, with certain practical expedients available. The Company expects that the adoption of ASU 2016-02 will result in a change in accounting method for the lease portion of the daily charter hire for the Company’s chartered-in vessels accounted for as operating leases and office leases with firm periods of greater than one year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease liability on the balance sheet for these charters and office leases, whereas currently no right-of-use asset or lease liability is recognized. This will have the result of increasing the Company’s assets and liabilities. The pattern of expense recognition of chartered-in vessels and office leases is expected to remain substantially unchanged, unless the right-of-use asset becomes impaired. Based on lease agreements the Company has entered into on or prior to September 30, 2017, the increase to the Company’s assets and liabilities is expected to be less than $250 million . Such amount is preliminary and is subject to change based on the Company finalizing its methodology to divide contracts into their lease and non-lease components and finalizing the determination of the rate to discount future lease payments. The Company is in the final stages of completing its assessment of ASU 2016-02, and is focused on developing process changes, determining the transitional impact and completing other items required for the adoption of ASU 2016-02. In March 2016, the FASB issued Accounting Standards Update 2016-09, Improvements to Employee Share-Based Payment Accounting (or ASU 2016-09 ). ASU 2016-09 simplifies aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statements of cash flows. The Company adopted ASU 2016-09 on January 1, 2017 and the impact was immaterial. This new accounting guidance changed the presentation of cash payments for tax withholdings on share-settled equity awards from an operating cash outflow to financing cash outflow on the Company's statements of cash flows, and this change was applied retrospectively. In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments . This update replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This update is effective for the Company on January 1, 2020, with a modified-retrospective approach. The Company is currently evaluating the effect of adopting this new guidance. In August 2016, the FASB issued Accounting Standards Update 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments , which, among other things, provides guidance on two acceptable approaches of classifying distributions received from equity method investees in the statements of cash flows. This update is effective for the Company on January 1, 2018, with a retrospective approach. The Company is currently evaluating the effect of adopting this new guidance. In November 2016, the FASB issued Accounting Standards Update 2016-18, Statement of Cash Flows: Restricted Cash (or ASU 2016-18). ASU 2016-18 requires that the statements of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 is effective for the Company on January 1, 2018. Adoption of ASU 2016-18 will result in the Company’s statements of cash flows to be modified to include changes in restricted cash in addition to changes in cash and cash equivalents. In January 2017, the FASB issued Accounting Standards Update 2017-01, Clarifying the Definition of a Business , (or ASU 2017-01). ASU 2017-01 changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. ASU 2017-01 requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. ASU 2017-01 also requires a business to include at least one substantive process and narrows the definition of outputs by more closely aligning it with how outputs are described in ASC 606. ASU 2017-01 is effective for annual reporting periods beginning after December 15, 2017, and for interim periods within those years. Early adoption is allowed and accounted for prospectively. If the adoption of ASU 2017-01 is completed prior to the closing of Teekay Tankers' merger with Tanker Investments Limited (or TIL ) (see note 7c), this acquisition is expected to be accounted for as an asset acquisition, otherwise the acquisition is expected to be accounted for as a business combination. Unlike a business combination, no goodwill or bargain purchase gain is recognized as part of an asset acquisition, and transaction costs are not expensed. In August 2017, the FASB issued Accounting Standards Update 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities (or ASU 2017-12 ). ASU 2017-12 eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires, for qualifying hedges, the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also modifies the accounting for components excluded from the assessment of hedge effectiveness, eases documentation and assessment requirements and modifies certain disclosure requirements. ASU 2017-12 will be effective for the Company January 1, 2019. The Company is currently evaluating the effect of adopting this new guidance.

Deconsolidation of Teekay Off26

Deconsolidation of Teekay Offshore (Tables)	9 Months Ended
Deconsolidation of Teekay Offshore (Tables)	Sep. 30, 2017
Business Combinations [Abstract]
Schedule of Deconsolidation	The following table shows the accounting impact from the deconsolidation of Teekay Offshore on September 25, 2017. On such date, the Company recognized both the net cash proceeds it received from Brookfield and the fair value of its retained interests in Teekay Offshore, including common units, warrants, and vessel charters with Teekay Offshore, and derecognized the carrying value of both Teekay Offshore’s net assets and the non-controlling interest in Teekay Offshore, with the difference between the amounts recognized and derecognized being the loss on deconsolidation. As of September 25, 2017 Net cash proceeds received by Teekay 139,693 Fair value of common units and General Partner interest of Teekay Offshore 150,132 Fair value of warrants 36,596 Fair value of vessel charters with Teekay Offshore 16,412 Carrying value of the non-controlling interest in Teekay Offshore 1,138,275 Subtotal 1,481,108 Less: Carrying value of Teekay Offshore's net assets on deconsolidation (1,584,296 ) Loss on deconsolidation of Teekay Offshore (103,188 )

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
Segment Reporting (Tables)	Sep. 30, 2017
Segment Reporting [Abstract]
Revenue and Income from Vessel Operations by Segment	The following table includes results for the Company’s revenues by segment for the three and nine months ended September 30, 2017 and 2016 : Revenues Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore (1)(2) 255,781 286,298 796,711 877,470 Teekay LNG Liquefied Gas Carriers (2) 92,700 87,260 271,078 250,342 Conventional Tankers 11,585 13,398 35,291 45,328 104,285 100,658 306,369 295,670 Teekay Tankers (3) Conventional Tankers (2) 91,238 109,554 330,512 427,349 Teekay Parent Offshore Production 51,254 53,592 143,769 167,398 Conventional Tankers (2) 1,041 6,982 4,965 30,566 Other 19,727 17,258 47,149 60,698 72,022 77,832 195,883 258,662 Eliminations and other (22,545 ) (26,703 ) (71,266 ) (82,785 ) 500,781 547,639 1,558,209 1,776,366 (1) On September 25, 2017, the Company deconsolidated Teekay Offshore (see Note 3). The revenue figures above are those of Teekay Offshore until the date of deconsolidation. (2) Certain vessels are chartered between the Daughter Companies or Teekay Offshore 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 three and nine months ended September 30 , 2017 and 2016 is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore 9,211 13,554 33,429 38,472 Teekay LNG - Liquefied Gas Carriers 9,296 9,429 26,851 28,075 Teekay Tankers - Conventional Tankers — 417 — 5,405 Teekay Parent - Conventional Tankers — — — — 18,507 23,400 60,280 71,952 (3) On May 31, 2017, Teekay Tankers acquired from Teekay Parent the remaining 50% interest in Teekay Tanker Operations Ltd. (or TTOL ); Teekay Tankers acquired its initial 50% interest in TTOL in August 2014. As a result of the acquisition, the financial information for Teekay Tankers prior to the date that Teekay Tankers acquired its remaining 50% interest in TTOL is retroactively adjusted to include 100% of the results of TTOL during the periods they were under common control of Teekay and had begun operations. The following table includes results for the Company’s (loss) income from vessel operations by segment for the three and nine months ended September 30, 2017 and 2016 : (Loss) Income from Vessel Operations (1) Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 $ $ $ $ Teekay Offshore (2) 40,384 61,739 147,060 174,309 Teekay LNG Liquefied Gas Carriers 44,902 48,009 128,281 130,682 Conventional Tankers (34,580 ) 2,625 (42,010 ) (15,511 ) 10,322 50,634 86,271 115,171 Teekay Tankers (3) Conventional Tankers (13,734 ) (3,207 ) (1,406 ) 86,565 Teekay Parent Offshore Production (223,957 ) (13,116 ) (262,986 ) (39,159 ) Conventional Tankers (3,077 ) (363 ) (8,524 ) (13,644 ) Other 216 (5,922 ) (20,370 ) (22,174 ) (226,818 ) (19,401 ) (291,880 ) (74,977 ) (189,846 ) 89,765 (59,955 ) 301,068 (1) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). (2) On September 25, 2017, the Company deconsolidated Teekay Offshore (see Note 3). The income from vessel operations figures above are those of Teekay Offshore until the date of deconsolidation. (3) On May 31, 2017, Teekay Tankers acquired from Teekay Parent, the remaining 50% interest in TTOL; Teekay Tankers acquired its initial 50% interest in TTOL in August 2014. As a result of the acquisition, the financial information for Teekay Tankers prior to the date that Teekay Tankers acquired its remaining 50% interest in TTOL is retroactively adjusted to include 100% of the results of TTOL during the periods they were under common control of Teekay and had begun operations.
Reconciliation of Total Segment Assets	A reconciliation of total segment assets to total assets presented in the accompanying unaudited consolidated balance sheets is as follows: September 30, 2017 December 31, 2016 $ $ Teekay Offshore 302,706 5,354,702 Teekay LNG - Liquefied Gas Carriers 4,307,812 3,957,088 Teekay LNG - Conventional Tankers 115,168 193,553 Teekay Tankers - Conventional Tankers 1,675,347 1,870,211 Teekay Parent - Offshore Production 382,790 635,364 Teekay Parent - Conventional Tankers 32,153 55,937 Teekay Parent - Other 59,882 13,208 Cash and cash equivalents 453,283 567,994 Other assets not allocated 124,793 281,244 Eliminations (23,086 ) (114,549 ) Consolidated total assets 7,430,848 12,814,752

Equity Financing Transactions28

Equity Financing Transactions of the Daughter Companies and Teekay Offshore (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of Proceeds Received from Financial Transactions	During the nine months ended September 30, 2017 , one of the Company's publicly traded subsidiaries, Teekay Tankers, and Teekay Offshore, prior to the Brookfield Transaction on September 25, 2017, completed the following equity issuances: Number of shares / units # Total Proceeds Received $ Less: Teekay Corporation Portion $ Offering Expenses $ Net Proceeds Received from Non-controlling Interests $ Nine Months Ended September 30, 2017 Teekay Tankers Continuous Offering Program 3,800,000 8,826 — (305 ) 8,521 Teekay Tankers Private Placement 2,155,172 5,000 (5,000 ) — — Teekay Tankers Direct Equity Placement (1) 13,775,224 25,897 (25,897 ) — — Teekay Offshore Private Placements (2) 6,521,518 29,817 (17,160 ) (212 ) 12,445 (1) In May 2017, Teekay Tankers issued Class B common stock to the Company as consideration for its acquisition of the remaining 50% interest in TTOL. (2) In February 2017 and May 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distributions on Teekay Offshore's Series C-1 and D Preferred Units and on Teekay Offshore's common units and general partner interest held by subsidiaries of Teekay. In June 2016, Teekay Offshore agreed with Teekay that, until the Teekay Offshore's Norwegian Kroner (or NOK ) bonds maturing in 2018 had been repaid, all cash distributions (other than with respect to distributions, if any, on incentive distribution rights) to be paid by Teekay Offshore to Teekay or its affiliates, including Teekay Offshore's general partner, would instead be paid in common units or from the proceeds of the sale of common units. Teekay Offshore issued Teekay 2.4 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the distributions on Teekay Offshore's Series D Preferred Units, common units and general partner interest held by subsidiaries of Teekay. In April 2017 and June 2017, respectively, Teekay Offshore issued common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the interest due on Teekay Offshore's $200 million loan due to Teekay. Teekay Offshore issued Teekay 1.7 million common units (including the general partner's 2% proportionate capital contribution) as a payment-in-kind for the loan interest.

Vessel Charters (Tables)

Vessel Charters (Tables)	9 Months Ended
Vessel Charters (Tables)	Sep. 30, 2017
Leases [Abstract]
Minimum Estimated Charter Hire Payments	The minimum estimated charter hire and rental payments for the remainder of the year and the next four fiscal years, as at September 30, 2017 , for the Company’s chartered-in and chartered-out vessels were as follows: Vessel Charters (1) Remainder 2018 2019 2020 2021 (in millions of U.S. Dollars) Charters-in – operating leases 18.0 57.4 56.1 52.0 44.9 Charters-in – capital leases (2) 44.7 138.9 119.5 118.9 110.2 Charters-in – related to capital leases (3) 4.1 16.3 16.3 16.3 16.3 66.8 212.6 191.9 187.2 171.4 Charters-out – operating leases (4) 146.9 469.8 392.6 350.5 289.3 Charters-out – direct financing leases (5) 15.1 45.9 39.1 39.2 39.1 162.0 515.7 431.7 389.7 328.4 (1) Teekay LNG owns a 69% ownership interest in Teekay BLT Corporation (or the Teekay Tangguh Joint Venture ), which is a party to operating leases whereby the Teekay Tangguh Joint Venture is leasing two LNG carriers (or the Tangguh LNG Carriers ) to a third party, which is in turn leasing the vessels back to the joint venture. This table does not include Teekay LNG’s minimum charter hire payments to be paid and received under these leases for the Tangguh LNG Carriers, which are described in Note 9 to the audited consolidated financial statements filed with the Company’s Annual Report on Form 20-F for the year ended December 31, 2016 . Under the terms of the leasing arrangement for the Tangguh LNG Carriers, whereby the Teekay Tangguh Joint Venture is the lessee, the lessor claims tax depreciation on its lease of these vessels. As is typical in these types of leasing arrangements, tax and change of law risks are assumed by the lessee. Lease payments under the lease arrangements are based on certain tax and financial assumptions at the commencement of the leases. If an assumption proves to be incorrect, the lessor is entitled to increase the lease payments to maintain its agreed after-tax margin. The carrying amount of tax indemnification guarantees of Teekay LNG relating to the leasing arrangement through the Teekay Tangguh Joint Venture as at September 30, 2017 was $7.2 million ( December 31, 2016 – $7.5 million ) and is included as part of other long-term liabilities in Teekay LNG’s consolidated balance sheets. The tax indemnification is for the duration of the lease contracts with the third party plus the years it would take for the lease payments to be statute barred, which will end in 2033 for the vessels. Although there is no maximum potential amount of future payments, the Teekay Tangguh Joint Venture may terminate the lease arrangement on a voluntary basis at any time. If the lease arrangement terminates, the Teekay Tangguh Joint Venture will be required to pay termination sums to the lessor sufficient to repay the lessor’s investment in the vessels and to compensate it for the tax effect of the terminations, including recapture of any tax depreciation. (2) As at September 30, 2017 , Teekay LNG was a party, as lessee, to capital leases on two Suezmax tankers, the Teide Spirit and the Toledo Spirit . 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 November 2017 and August 2018, respectively. The amounts in the table above assume the owner will not exercise its options to require Teekay LNG to purchase either of the vessels from the owner, but rather assume the owner will cancel the charter contracts when the cancellation right is first exercisable (in November 2017 and August 2018 , respectively) and sell the vessels to a third party, upon which the remaining lease obligations will be extinguished. Therefore, the table above does not include any amounts after the expected cancellation date of the leases. In August 2017, the charterer of the Teide Spirit gave formal notification to Teekay LNG of its intention to terminate its charter, subject to certain conditions being met and third-party approvals being received. In October 2017, the charterer notified Teekay LNG that it has marketed the Teide Spirit for sale and, upon sale of the vessel, it will concurrently terminate its existing charter contract with Teekay LNG. Teekay LNG is also a party to capital leases on three LNG carriers, the Creole Spirit, the Oak Spirit and the Torben Spirit . Upon delivery of the Creole Spirit in February 2016, the Oak Spirit in July 2016 and the Torben Spirit in March 2017, Teekay LNG sold these vessels to a third party and leased them back under 10 -year bareboat charter contracts ending in 2026 and 2027. The bareboat charter contracts are accounted for as capital leases. Teekay LNG guarantees the obligations of the bareboat charter contracts. In addition, the guarantee agreements require Teekay LNG to maintain minimum levels of tangible net worth and aggregate liquidity, and not to exceed a maximum amount of leverage. As at September 30, 2017 , Teekay LNG had sale-leaseback agreements in place for five of its eight LNG carrier newbuildings scheduled to deliver during the remainder of 2017 and 2018, and at such dates, the buyers will take delivery and charter each respective vessel back to Teekay LNG. As at September 30, 2017 , Teekay LNG had received $211.2 million from the buyers, which has been recorded as current portion and long-term obligations under capital lease in Teekay LNG's consolidated balance sheets, and Teekay LNG has secured a further $699 million in capital lease financing to be received in the remainder of 2017 to 2018. (3) In July 2017, Teekay Tankers completed a 153.0 million sale-leaseback financing transaction relating to four of its Suezmax tankers, the Athens Spirit , Beijing Spirit , Moscow Spirit and Sydney Spirit . Under this arrangement, Teekay Tankers has agreed to transfer the vessels to subsidiaries of the financial institution (or collectively the Lessors ) and lease the vessels back from the Lessors on bareboat charters for a 12 -year term. Teekay Tankers has the option to repurchase the vessels from July 2020 to July 2029. The Lessors are companies whose only assets and operations are to hold Teekay Tankers' leases and vessels. Teekay Tankers operates the vessels during the lease term and as a result, is the primary beneficiary of the Lessors and consolidates the Lessors for financial reporting purposes. The liabilities of the Lessors are loans and are non-recourse to Teekay Tankers. The amounts funded to the Lessors materially match the funding received by Teekay Tankers' subsidiaries. As a result, the amounts due by Teekay Tankers' subsidiaries to the Lessors have been included in obligations under capital leases as representing the Lessor's loans. The bareboat charters also require that Teekay Tankers maintain minimum levels of cash and aggregate liquidity. (4) The minimum scheduled future operating lease revenues do not include revenue generated from new contracts entered into after September 30, 2017 , revenue from unexercised option periods of contracts that existed on September 30, 2017 , revenues from vessels in the Company's equity-accounted investments, or variable or contingent revenues. Therefore, the minimum scheduled future operating lease revenues should not be construed to reflect total charter hire revenues that may be recognized for any of the years. (5) The Tangguh LNG Carriers’ time-charter contracts and two bareboat charter contracts for two LNG carriers chartered to Awilco LNG ASA (or Awilco ) are accounted for as direct financing leases. In June 2017, Teekay LNG amended the charters with Awilco to defer a portion of charter hire and extend the bareboat charter contracts and related purchase obligations on both vessels to December 2019. The amendments have the effect of deferring between $10,600 per day and $20,600 per day per vessel from July 1, 2017 until December 2019, with such deferred amounts added to the purchase obligation amounts. As a result of the contract amendments, the charter contracts with Awilco will be reclassified to operating leases from direct finance leases upon the expiry of the original terms of the contracts with Awilco in November 2017 and August 2018.

Asset Impairments, Loss on Sa30

Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Schedule of Loss on Sale of Vessels, Equipment and Other Operating Assets	The following tables show the loss on sale of vessels, equipment and other operating assets for the three and nine months ended September 30, 2017 and 2016 : Net Loss on Sale of Vessels, Equipment and Other Assets Three Months Ended September 30, Segment Asset Type Completion of Sale Date 2017 2016 Teekay Tankers Segment - Conventional Tankers 2 Aframaxes (1) (7,926 ) — Teekay Tankers Segment - Conventional Tankers MR Tanker Aug-2016 — (7,903 ) Other — 65 Total (7,926 ) (7,838 ) Loss on Sale of Vessels, Equipment and Other Assets Nine Months Ended September 30, Segment Asset Type Completion of Sale Date 2017 2016 Teekay LNG Segment - Conventional Tankers Suezmax (2) (12,600 ) — Teekay Tankers Segment - Conventional Tankers 3 Aframaxes (1) (10,669 ) — Teekay Tankers Segment - Conventional Tankers Suezmax Mar-2017 (1,469 ) — Teekay LNG Segment - Conventional Tankers 2 Suezmaxes Apr/May-2016 — (27,439 ) Teekay Parent Segment - Conventional Tankers VLCC Tanker Oct-2016 — (12,536 ) Teekay Tankers Segment - Conventional Tankers 2 MR Tankers Aug/Nov-2016 — (14,323 ) Other (357 ) (115 ) Total (25,095 ) (54,413 ) (1) Two vessels were sold and delivered to their respective buyers in June and September 2017 and another vessel is classified as held for sale at September 30, 2017. (2) Teekay LNG has commenced marketing the vessel for sale and the vessel is classified as held for sale at September 30, 2017.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2017
Debt Disclosure [Abstract]
Summary of Long-Term Debt	September 30, 2017 December 31, 2016 $ $ Revolving Credit Facilities 884,749 1,119,808 Senior Notes (8.5%) due January 15, 2020 592,657 592,657 Norwegian Kroner-denominated Bonds due through 2021 389,320 628,257 U.S. Dollar-denominated Term Loans due through 2028 1,264,070 3,702,997 U.S. Dollar Bonds due through 2024 — 466,680 Euro-denominated Term Loans due through 2023 233,764 219,733 Other U.S. Dollar-denominated loan 10,000 — Total Principal 3,374,560 6,730,132 Unamortized discount and debt issuance costs (26,048 ) (90,586 ) Total debt 3,348,512 6,639,546 Less current portion (727,434 ) (998,591 ) Long-term portion 2,621,078 5,640,955

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Joint Ventures	Teekay LNG’s share of commitments to fund newbuilding and other construction contract costs of its equity-accounted joint ventures as at September 30, 2017 are as follows: Total Remainder of 2017 2018 2019 2020 $ $ $ $ $ Equity-accounted joint ventures (i) 1,183,589 110,937 556,064 318,683 197,905 (i) The commitment amounts relating to Teekay LNG’s share of costs for newbuilding and other construction contracts in Teekay LNG’s equity-accounted joint ventures are based on Teekay LNG’s ownership percentage in each respective joint venture as of September 30, 2017 . These commitments are described in more detail in Note 15 of the Company’s audited consolidated financial statements filed with its Annual Report on Form 20-F for the year-ended December 31, 2016 . As of September 30, 2017 , based on the Teekay LNG's ownership percentage in each respective joint venture, Teekay LNG's equity-accounted joint ventures have secured $336 million of financing related to the remaining commitments included in the table above.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Sep. 30, 2017
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 fair value on a recurring basis. September 30, 2017 December 31, 2016 Fair Value Hierarchy Level Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Recurring Cash and cash equivalents, restricted cash, and marketable securities Level 1 556,194 556,194 805,567 805,567 Derivative instruments (note 14) Interest rate swap agreements – assets (1) Level 2 3,100 3,100 7,943 7,943 Interest rate swap agreements – liabilities (1) Level 2 (86,493 ) (86,493 ) (302,935 ) (302,935 ) Cross currency interest swap agreement (1) Level 2 (41,268 ) (41,268 ) (237,165 ) (237,165 ) Foreign currency contracts Level 2 537 537 (2,993 ) (2,993 ) Stock purchase warrants Level 3 32,135 32,135 575 575 Time-charter swap agreement Level 3 — — 208 208 Freight forward agreements Level 1 (79 ) (79 ) — — Non-recurring Vessels and equipment Level 3 130,200 130,200 11,300 11,300 Vessels held for sale Level 2 6,400 6,400 61,282 61,282 Vessels under capital leases Level 3 52,914 52,914 — — Long-term investments Level 2 — — 6,000 6,000 Other Loans to equity-accounted investees and joint venture partners – Current (2) 165,118 (2 ) 11,821 (2 ) Loans to equity-accounted investees and joint venture partners – Long-term (2) 145,804 (2 ) 292,209 (2 ) Long-term receivable included in accounts receivable and other assets (3) Level 3 5,028 5,004 10,985 10,944 Long-term debt – public (note 8) Level 1 (974,349 ) (996,360 ) (1,503,472 ) (1,409,996 ) Long-term debt – non-public (note 8) Level 2 (2,374,163 ) (2,334,229 ) (5,136,074 ) (5,009,900 ) Obligations related to capital leases, including current portion Level 2 (150,956 ) (150,671 ) — — (1) The fair value of the Company's interest rate swap and cross currency swap agreements at September 30, 2017 includes $3.0 million ( December 31, 2016 - $15.8 million ) accrued interest expense which is recorded in accrued liabilities on the unaudited consolidated balance sheets. (2) In the unaudited interim 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. The fair value of the individual components of such aggregate interests is not determinable. (3) As at September 30, 2017 , the estimated fair value of the non-interest bearing receivable from Royal Dutch Shell plc (or Shell ) is based on the remaining future fixed payments as well as an estimated discount rate. The estimated fair value of this receivable as of September 30, 2017 was $5.0 million ( December 31, 2016 – $10.9 million ) using a discount rate of 8.0% . As there is no market rate for the equivalent of an unsecured non-interest bearing receivable from Shell, the discount rate is based on unsecured debt instruments of similar maturity held by the Company, 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 Measured on Recurring Basis Using Significant Unobservable Inputs (Level 3)	Changes in fair value during the three and nine months ended September 30, 2017 and 2016 for the Company’s Brookfield Transaction Warrants, Series D Warrants and the TIL stock purchase warrants, which are described above and were measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Fair value at the beginning of the period — 1,833 575 10,328 Fair value on issuance 36,596 — 36,596 — Unrealized loss included in earnings (4,461 ) (399 ) (5,036 ) (8,894 ) Fair value at the end of the period 32,135 1,434 32,135 1,434 Changes in fair value during the three and nine months ended September 30, 2017 for Teekay Tankers' time-charter swap agreement, which is described in Note 14 below and was measured at fair value on the recurring basis using significant unobservable inputs (Level 3), are as follows: Nine Months Ended September 30, 2017 $ Fair value asset - beginning of the period 875 Settlements (1,106 ) Realized and unrealized gain 231 Fair value asset - at the end of the period —
Summary of Financing Receivables	The following table contains a summary of the Company’s financing receivables by type of borrower and the method by which the Company monitors the credit quality of its financing receivables on a quarterly basis. Class of Financing Receivable Credit Quality Indicator Grade September 30, 2017 December 31, 2016 $ $ Direct financing leases Payment activity Performing 633,805 660,594 Other loan receivables Loans to equity-accounted investees and joint venture partners Other internal metrics Performing 310,922 304,030 Long-term receivable included in other assets Payment activity Performing 11,577 17,712 956,304 982,336

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Sep. 30, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	As at September 30, 2017 and December 31, 2016 , the Company’s accumulated other comprehensive loss (or AOCI ) consisted of the following components: September 30, December 31, 2017 2016 $ $ Unrealized loss on qualifying cash flow hedging instruments 398 (41 ) Pension adjustments, net of tax recoveries (12,332 ) (12,160 ) Unrealized gain (loss) on marketable securities 22 (416 ) Foreign exchange gain on currency translation 2,683 2,014 (9,229 ) (10,603 )

Derivative Instruments and He35

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
Derivative Instruments and Hedging Activities (Tables)	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Commitment of Foreign Currency Forward Contracts	As at September 30, 2017 , the Company was committed to the following foreign currency forward contracts: Fair Value / Expected Maturity Contract Amount in Average (1) 2017 2018 $ $ Norwegian Kroner 130,000 8.24 537 3,616 12,153 (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 September 30, 2017 , the Company was committed to the following cross currency swaps: Fair Value / Notional Notional Floating Rate Receivable Reference Margin Fixed Rate Remaining 900,000 150,000 NIBOR 4.35% 6.43% (39,088 ) 0.9 1,000,000 134,000 NIBOR 3.70% 5.92% (9,862 ) 2.6 1,200,000 146,500 NIBOR 6.00% 7.70% 7,682 4.1 (41,268 )
Interest Rate Swap Agreements	As at September 30, 2017 , 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 Rate Index Principal Amount Fair Value / Carrying Amount of Asset / (Liability) $ Weighted- Fixed Interest Rate (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 1,014,701 (31,522 ) 5.2 2.8 U.S. Dollar-denominated interest rate swaps (3) LIBOR 331,933 (20,538 ) 1.8 3.4 U.S. Dollar-denominated interest rate swaption (4) LIBOR 160,000 (535 ) 0.3 2.0 U.S. Dollar-denominated interest rate swaption (4) LIBOR 160,000 15 0.3 3.1 EURIBOR-Based Debt: Euro-denominated interest rate swaps (5) (6) EURIBOR 233,763 (30,813 ) 3.2 3.1 (83,393 ) (1) Excludes the margins the Company pays on its variable-rate debt, which, as of September 30, 2017 , ranged from 0.3% to 4.0% . (2) Includes interest rate swaps with the notional amount reducing quarterly or semi-annually. (3) Forward-starting interest rate swaps with inception dates ranging from October 2017 to April 2018. Interest rate swaps are being used to economically hedge expected interest payments on new debt that is planned to be outstanding from 2017 to 2024 . These interest rate swaps are subject to mandatory early termination in 2018 and 2020 whereby the swaps will be settled based on their fair value at that time. (4) 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 rate 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. (5) Principal amount reduces monthly to 70.1 million Euros ( $82.8 million ) by the maturity dates of the swap agreements. (6) Principal amount is the U.S. Dollar equivalent of 197.9 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 unaudited consolidated balance sheets. Prepaid Expenses and Other Other Non-Current Assets Accrued Liabilities and Other Current Portion of Derivative Liabilities Derivative Liabilities $ $ $ $ $ As at September 30, 2017 Derivatives designated as a cash flow hedge: Interest rate swap agreements — 587 (25 ) (1,366 ) (605 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 537 — — — — Interest rate swap agreements 220 3,069 (2,256 ) (28,978 ) (54,039 ) Cross currency swap agreements — 8,688 (700 ) (41,612 ) (7,644 ) Stock purchase warrants — 32,135 — — — Forward freight agreements 29 — (108 ) — — 786 44,479 (3,089 ) (71,956 ) (62,288 ) As at December 31, 2016 Derivatives designated as a cash flow hedge: Interest rate swap agreements — 1,340 (363 ) (1,033 ) (52 ) Derivatives not designated as a cash flow hedge: Foreign currency contracts 119 — — (2,601 ) (511 ) Interest rate swap agreements 212 9,839 (11,979 ) (59,055 ) (233,901 ) Cross currency swap agreements — — (3,464 ) (53,124 ) (180,577 ) Stock purchase warrants — 575 — — — Time-charter swap agreement 875 — (667 ) — — 1,206 11,754 (16,473 ) (115,813 ) (415,041 )
Schedule of Cash Flow Hedges	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 (excluding such agreements in equity-accounted investments): Three Months Ended September 30, 2017 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) $ $ $ (115) (424) (7) Interest expense (115) (424) (7) Three Months Ended September 30, 2016 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) 1,482 — (3) Interest expense 1,482 — (3) Nine Months Ended September 30, 2017 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) $ $ $ (1,677) (1,186) (762) Interest expense (1,677) (1,186) (762) Nine Months Ended September 30, 2016 Effective Portion Effective Portion Ineffective Recognized in AOCI (1) Reclassified from AOCI (2) Portion (3) (12,543) — (59) Interest expense (12,543) — (59) (1) Recognized in accumulated other comprehensive loss (or AOCI ). (2) Recorded in AOCI during the term of the hedging relationship and reclassified to earnings. (3) Recognized in the ineffective portion of gains (losses) on derivative instruments designated and qualifying as cash flow hedges.
Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments	The effect of the (losses) and gains on derivatives not designated as hedging instruments in the unaudited consolidated statements of (loss) income is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Realized (losses) gains relating to: Interest rate swap agreements (15,729 ) (22,219 ) (48,199 ) (67,808 ) Interest rate swap agreement terminations — — (610 ) (8,140 ) Foreign currency forward contracts 1,609 (2,583 ) 638 (9,915 ) Time charter swap agreement — 1,096 1,106 1,222 Forward freight agreements 234 — 347 — (13,886 ) (23,706 ) (46,718 ) (84,641 ) Unrealized gains (losses) relating to: Interest rate swap agreements 11,575 47,816 5,181 (96,055 ) Foreign currency forward contracts 735 6,006 4,383 21,070 Stock purchase warrants (4,461 ) (398 ) (5,036 ) (8,894 ) Time charter swap agreement — 208 (875 ) 1,553 Forward freight agreements (91 ) — (108 ) — 7,758 53,632 3,545 (82,326 ) Total realized and unrealized (losses) gains on derivative instruments (6,128 ) 29,926 (43,173 ) (166,967 )
Effect of Gains (Losses) on Cross Currency Swaps	The effect of the losses on cross currency swaps on the consolidated statements of (loss) income is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Realized losses on maturity and termination of cross currency swaps — — (25,733 ) (32,628 ) Realized losses (4,234 ) (5,612 ) (16,369 ) (15,551 ) Unrealized gains 41,653 40,019 91,749 93,232 Total realized and unrealized gains on cross currency swaps 37,419 34,407 49,647 45,053

Income Tax (Expense) Recovery (

Income Tax (Expense) Recovery (Tables)	9 Months Ended
Income Tax (Expense) Recovery (Tables)	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Components of Provision for Income Tax (Expense) Recovery	The components of the provision for income tax (expense) recovery are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Current (3,410 ) (41 ) (9,355 ) (8,753 ) Deferred (1,811 ) 174 (2,412 ) 6,387 Income tax (expense) recovery (5,221 ) 133 (11,767 ) (2,366 )
Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities	The following reflects the changes in the Company’s unrecognized tax benefits, recorded in other long-term liabilities, from January 1, 2017 to September 30, 2017 : $ Balance of unrecognized tax benefits as at January 1, 2017 19,492 Increase for positions taken in prior years 1,045 Increase for positions related to the current period 4,874 Decrease related to statute of limitations (663 ) Decrease due to deconsolidation of Teekay Offshore ( note 3 ) (1,503 ) Balance of unrecognized tax benefits as at September 30, 2017 23,245

Net (Loss) Income Per Share (Ta

Net (Loss) Income Per Share (Tables)	9 Months Ended
Net (Loss) Income Per Share (Tables)	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Net (Loss) Income Per Share	Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 $ $ $ $ Net (loss) income attributable to the shareholders of Teekay Corporation (12,582 ) 6,072 (137,990 ) (120,520 ) The Company's portion of the Inducement Premium and Exchange Contribution charged to retained earnings by Teekay Offshore (note 10e) — — — (4,993 ) Net (loss) income attributable to the shareholders of Teekay Corporation - basic and diluted (12,582 ) 6,072 (137,990 ) (125,513 ) Weighted average number of common shares 86,261,330 84,887,101 86,232,315 76,887,689 Dilutive effect of stock-based compensation — 86,644 — — Common stock and common stock equivalents 86,261,330 84,973,745 86,232,315 76,887,689 (Loss) income per common share: - Basic (0.15 ) 0.07 (1.60 ) (1.63 ) - Diluted (0.15 ) 0.07 (1.60 ) (1.63 )

Basis of Presentation (Details)

Basis of Presentation (Details)	Sep. 25, 2017	Sep. 30, 2017
Teekay Offshore
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		50.00%
General Partner \| Teekay Offshore
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership of general partner	100.00%
Brookfield \| General Partner
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of ownership acquired	49.00%
Subsidiaries
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		50.00%

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets, less than	$ 7,430,848	$ 12,814,752
Liabilities, less than	4,808,690	$ 8,476,357
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets, less than	250,000
Liabilities, less than	$ 250,000

Deconsolidation of Teekay Off40

Deconsolidation of Teekay Offshore - Narrative (Details)	Sep. 25, 2017USD ($)day$ / sharesshares	Sep. 30, 2017USD ($)vessel$ / shares	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2017USD ($)vessel$ / shares	Sep. 30, 2016USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares	Jul. 01, 2016USD ($)	Jun. 29, 2016$ / shares
Business Acquisition [Line Items]
Common price per unit (in usd per share) (equal to or greater than) \| $ / shares		$ 0.001		$ 0.001		$ 0.001
Unrecognized net deferred gain		$ (370,483,000)	$ 74,071,000	$ (358,843,000)	$ 75,159,000
Current portion of loans to equity-accounted investees		$ 165,118,000		$ 165,118,000		$ 9,471,000
Teekay Offshore
Business Acquisition [Line Items]
Investment in Teekay Offshore	$ 150,100,000
Subordinated Promissory Notes
Business Acquisition [Line Items]
Number of warrants to be issued (in shares) \| shares	11,400,000
Aggregate proceeds from the debt purchase	$ 140,000,000
Common Units \| Teekay Offshore
Business Acquisition [Line Items]
Equity method investment, ownership interest	14.00%
General Partner \| Teekay Offshore
Business Acquisition [Line Items]
Equity method investment, ownership interest	51.00%
Subsidiaries \| Shuttle Tankers
Business Acquisition [Line Items]
Number of vessels \| vessel		2		2
Subsidiaries \| FSO
Business Acquisition [Line Items]
Number of vessels \| vessel		3		3
Subsidiaries \| Teekay Offshore
Business Acquisition [Line Items]
Advances to Teekay Offshore		$ 123,600,000		$ 123,600,000
Current portion of loans to equity-accounted investees		$ 43,600,000		43,600,000
Teekay Offshore
Business Acquisition [Line Items]
Exercise price of warrants (in usd per unit) \| $ / shares	$ 0.01
Term of warrants	7 years
Common price per unit (in usd per share) (equal to or greater than) \| $ / shares	$ 4
Trading period \| day	10
Teekay \| Teekay Offshore
Business Acquisition [Line Items]
Aggregate purchase price, cash	$ 30,000,000
Number of shares to be issued/exchanged \| shares	12,000,000
Number of warrants to be issued (in shares) \| shares	3,100,000
Teekay Offshore \| Deferred Gain (Loss) On Sale Of Assets \| Subsidiaries
Business Acquisition [Line Items]
Unrecognized net deferred gain				$ 349,600,000
Teekay Offshore \| Subordinated Promissory Notes
Business Acquisition [Line Items]
Debt instrument, principal amount							$ 200,000,000
Teekay Offshore \| Series B
Business Acquisition [Line Items]
Exercise price of warrants (in usd per unit) \| $ / shares	$ 4.55							$ 6.05
Teekay Offshore \| Series C-1 Preferred Units
Business Acquisition [Line Items]
Redemption price (USD per unit) \| $ / shares	18.20
Teekay Offshore \| Series D Preferred Stock
Business Acquisition [Line Items]
Redemption price (USD per unit) \| $ / shares	$ 23.75		$ 4		$ 4
Shares outstanding (in shares) \| shares	1,040,000
Teekay Offshore \| General Partner
Business Acquisition [Line Items]
Percentage of ownership acquired	2.00%
Investment in Teekay Offshore	$ 150,132,000
Brookfield \| General Partner
Business Acquisition [Line Items]
Number of warrants to be issued (in shares) \| shares	1,000,000
Percentage of ownership acquired	49.00%
Amount purchased for shares	$ 4,000,000
Brookfield \| Teekay Offshore
Business Acquisition [Line Items]
Aggregate purchase price, cash	$ 610,000,000
Number of shares to be issued/exchanged \| shares	244,000,000
Number of warrants to be issued (in shares) \| shares	62,400,000
Brookfield \| Teekay Offshore \| General Partner
Business Acquisition [Line Items]
Percentage of ownership acquired	49.00%

Deconsolidation of Teekay Off41

Deconsolidation of Teekay Offshore - Schedule of Deconsolidation(Details) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 25, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Noncontrolling Interest [Line Items]
Carrying value of the non-controlling interest in Teekay Offshore					$ 881,830
Loss on deconsolidation of Teekay Offshore (note 3)			$ (103,188)	$ 0	$ (103,188)	$ 0
Teekay Offshore
Noncontrolling Interest [Line Items]
Net cash proceeds received by Teekay		$ 139,693
Fair value of vessel charters with Teekay Offshore		16,412
Carrying value of the non-controlling interest in Teekay Offshore		1,138,275
Subtotal		1,481,108
Carrying value of Teekay Offshore's net assets on deconsolidation		(1,584,296)
Loss on deconsolidation of Teekay Offshore (note 3)			$ (103,188)
Teekay Offshore \| Stock purchase warrants
Noncontrolling Interest [Line Items]
Fair value of warrants	$ 36,596
Teekay Offshore \| General Partner
Noncontrolling Interest [Line Items]
Fair value of common units and General Partner interest of Teekay Offshore		$ 150,132

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) $ in Thousands	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)segment	Sep. 30, 2016USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment				3
Number of lines of businesses, more than \| segment				1
Segment Reporting Information [Line Items]
Equity loss		$ (1,264)	$ (21,070)	$ 36,373	$ (73,706)
Asset impairment charges		243,659	$ 0	245,159	43,649
Teekay Offshore
Segment Reporting Information [Line Items]
Asset impairment charges	$ 316,700				$ 43,700
Teekay Offshore
Segment Reporting Information [Line Items]
Equity loss		$ 3,100		$ 3,100

Segment Reporting - Revenue and

Segment Reporting - Revenue and Income from Vessel Operations by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	May 31, 2017	Aug. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 500,781	$ 547,639	$ 1,558,209	$ 1,776,366
Income (Loss) from Vessel Operations	(189,846)	89,765	(59,955)	301,068
Eliminations and other
Segment Reporting Information [Line Items]
Revenues	(22,545)	(26,703)	(71,266)	(82,785)
Teekay Offshore \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	255,781	286,298	796,711	877,470
Income (Loss) from Vessel Operations	40,384	61,739	147,060	174,309
Teekay LNG \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	104,285	100,658	306,369	295,670
Income (Loss) from Vessel Operations	10,322	50,634	86,271	115,171
Teekay LNG \| Liquefied Gas Carriers \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	92,700	87,260	271,078	250,342
Income (Loss) from Vessel Operations	44,902	48,009	128,281	130,682
Teekay LNG \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	11,585	13,398	35,291	45,328
Income (Loss) from Vessel Operations	(34,580)	2,625	(42,010)	(15,511)
Teekay Tankers
Segment Reporting Information [Line Items]
Ownership percentage					50.00%
Initial ownership percentage						50.00%
Teekay Tankers \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	91,238	109,554	330,512	427,349
Income (Loss) from Vessel Operations	(13,734)	(3,207)	(1,406)	86,565
Teekay Parent
Segment Reporting Information [Line Items]
Revenues	72,022	77,832	195,883	258,662
Income (Loss) from Vessel Operations	(226,818)	(19,401)	(291,880)	(74,977)
Teekay Parent \| Other
Segment Reporting Information [Line Items]
Revenues	19,727	17,258	47,149	60,698
Income (Loss) from Vessel Operations	216	(5,922)	(20,370)	(22,174)
Teekay Parent \| Offshore Production \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	51,254	53,592	143,769	167,398
Income (Loss) from Vessel Operations	(223,957)	(13,116)	(262,986)	(39,159)
Teekay Parent \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	1,041	6,982	4,965	30,566
Income (Loss) from Vessel Operations	$ (3,077)	$ (363)	$ (8,524)	$ (13,644)

Segment Reporting - Revenue a44

Segment Reporting - Revenue and Income from Vessel Operations by Segment - Intersegment Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	May 31, 2017	Aug. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ (500,781)	$ (547,639)	$ (1,558,209)	$ (1,776,366)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	18,507	23,400	60,280	71,952
Teekay Offshore \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	9,211	13,554	33,429	38,472
Teekay LNG \| Liquefied Gas Carriers \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	9,296	9,429	26,851	28,075
Teekay Tankers
Segment Reporting Information [Line Items]
Ownership percentage					50.00%
Initial ownership percentage						50.00%
Teekay Tankers \| Conventional Tankers \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	417	0	5,405
Teekay Parent
Segment Reporting Information [Line Items]
Revenues	(72,022)	(77,832)	(195,883)	(258,662)
Teekay Parent \| Conventional Tankers \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Total Segment Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total assets	$ 7,430,848	$ 12,814,752
Segment Reconciling Items \| Cash and cash equivalents
Segment Reporting Information [Line Items]
Total assets	453,283	567,994
Segment Reconciling Items \| Other assets not allocated
Segment Reporting Information [Line Items]
Total assets	124,793	281,244
Eliminations
Segment Reporting Information [Line Items]
Total assets	(23,086)	(114,549)
Teekay Offshore \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	302,706	5,354,702
Teekay LNG \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	115,168	193,553
Teekay LNG \| Liquefied Gas Carriers \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	4,307,812	3,957,088
Teekay Tankers \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	1,675,347	1,870,211
Teekay Parent \| Other
Segment Reporting Information [Line Items]
Total assets	59,882	13,208
Teekay Parent \| Conventional Tankers \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	32,153	55,937
Teekay Parent \| Offshore Production \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 382,790	$ 635,364

Equity Financing Transactions46

Equity Financing Transactions of the Daughter Companies and Teekay Offshore (Details) $ in Thousands	1 Months Ended			9 Months Ended
	Jun. 30, 2017shares	May 31, 2017	Jun. 30, 2016shares	Sep. 30, 2017USD ($)companyshares	Sep. 30, 2016USD ($)
Subsidiary, Sale of Stock [Line Items]
Number of publicly traded companies \| company				1
Net proceeds from equity issuances of subsidiaries				$ 8,521	$ 190,007
Teekay Tankers
Subsidiary, Sale of Stock [Line Items]
Ownership percentage		50.00%
Teekay Offshore \| Teekay Parent
Subsidiary, Sale of Stock [Line Items]
Loan due to affiliates				$ 200,000
Teekay Offshore \| Common Stock
Subsidiary, Sale of Stock [Line Items]
Payment in kind units (in units) \| shares			2,400,000
Teekay Offshore \| Common Stock \| Teekay Parent \| Payment in Kind
Subsidiary, Sale of Stock [Line Items]
Payment in kind units (in units) \| shares	1,700,000
Teekay Offshore \| General Partner
Subsidiary, Sale of Stock [Line Items]
Proportionate capital contribution percentage	2.00%	2.00%	2.00%
Continuous Offering Program \| Teekay Tankers
Subsidiary, Sale of Stock [Line Items]
Number of shares / units (in shares) \| shares				3,800,000,000
Total Proceeds Received				$ 8,826
Less: Teekay Corporation Portion				0
Offering Expenses				(305)
Net proceeds from equity issuances of subsidiaries				$ 8,521
Private Placement \| Teekay Tankers
Subsidiary, Sale of Stock [Line Items]
Number of shares / units (in shares) \| shares				2,155,172,000
Total Proceeds Received				$ 5,000
Less: Teekay Corporation Portion				(5,000)
Offering Expenses				0
Net proceeds from equity issuances of subsidiaries				$ 0
Private Placement \| Teekay Offshore
Subsidiary, Sale of Stock [Line Items]
Number of shares / units (in shares) \| shares				6,521,518,000
Total Proceeds Received				$ 29,817
Less: Teekay Corporation Portion				(17,160)
Offering Expenses				(212)
Net proceeds from equity issuances of subsidiaries				$ 12,445
Direct Equity Placement \| Teekay Tankers
Subsidiary, Sale of Stock [Line Items]
Number of shares / units (in shares) \| shares				13,775,224,000
Total Proceeds Received				$ 25,897
Less: Teekay Corporation Portion				(25,897)
Offering Expenses				0
Net proceeds from equity issuances of subsidiaries				$ 0

Vessel Charters - Minimum Estim

Vessel Charters - Minimum Estimated Charter Hire Payments (Details) $ in Millions	Sep. 30, 2017USD ($)
Charters-in – operating leases
Remainder of 2017	$ 18
2,018	57.4
2,019	56.1
2,020	52
2,021	44.9
Charters-in – Leases
Remainder of 2017	66.8
2,018	212.6
2,019	191.9
2,020	187.2
2,021	171.4
Charters-out – operating leases
Remainder of 2017	146.9
2,018	469.8
2,019	392.6
2,020	350.5
2,021	289.3
Charters-out – direct financing leases
Remainder of 2017	15.1
2,018	45.9
2,019	39.1
2,020	39.2
2,021	39.1
Charters-out – leases
Remainder of 2017	162
2,018	515.7
2,019	431.7
2,020	389.7
2,021	328.4
Teekay LNG
Charters-in – capital leases
Remainder of 2017	44.7
2,018	138.9
2,019	119.5
2,020	118.9
2,021	110.2
Teekay Tankers
Charters-in – capital leases
Remainder of 2017	4.1
2,018	16.3
2,019	16.3
2,020	16.3
2,021	$ 16.3

Vessel Charters - Additional In

Vessel Charters - Additional Information (Details)	1 Months Ended		9 Months Ended
Vessel Charters - Additional Information (Details)	Jul. 31, 2017USD ($)vessel	Feb. 29, 2016	Sep. 30, 2017USD ($)vessellease	Dec. 31, 2019USD ($)	Dec. 31, 2016USD ($)vessel
Teekay LNG \| Liquefied Natural Gas
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of vessels \| vessel			8
Number of vessels with secured financing \| vessel			5
Capital lease obligation \| $			$ 211,200,000
Teekay LNG \| Suezmax
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of capital leased assets \| vessel			2
Teekay LNG \| LNG Carriers
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of capital leased assets \| lease			3
Lease term		10 years
Teekay LNG \| LNG Carriers \| Liquefied Natural Gas
Capital Leases and Operating and Direct Finance Leases [Line Items]
Amount receivable from the buyer for the remainder of 2017 to 2018 \| $			$ 699,000,000
Teekay Tankers
Capital Leases and Operating and Direct Finance Leases [Line Items]
Amount receivable from the buyer for the remainder of 2017 to 2018 \| $	$ 153,000,000
Term of contract	12 years
Teekay Tankers \| Suezmax
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of vessels \| vessel	4
Teekay Tangguh Joint Venture
Capital Leases and Operating and Direct Finance Leases [Line Items]
Guarantee obligation \| $			$ 7,200,000		$ 7,500,000
Awilco LNG Carriers
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of vessels \| vessel					2
Awilco LNG Carriers \| Forecast \| Minimum
Capital Leases and Operating and Direct Finance Leases [Line Items]
Agreement amount per day \| $				$ 10,600
Awilco LNG Carriers \| Forecast \| Maximum
Capital Leases and Operating and Direct Finance Leases [Line Items]
Agreement amount per day \| $				$ 20,600
Teekay Tangguh Joint Venture \| Teekay LNG
Capital Leases and Operating and Direct Finance Leases [Line Items]
Partnership owns percentage in joint venture			69.00%
Teekay Tangguh Joint Venture
Capital Leases and Operating and Direct Finance Leases [Line Items]
Number of vessels \| vessel			2

Asset Impairments, Loss on Sa49

Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment - Asset Impairments (Details)	Sep. 30, 2017USD ($)vessel	Aug. 31, 2017	Sep. 30, 2017USD ($)vessel	Sep. 30, 2016USD ($)vessel	Sep. 30, 2017USD ($)vessel	Sep. 30, 2016USD ($)vessel	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)vessel
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges			$ 243,659,000	$ 0	$ 245,159,000	$ 43,649,000
Vessels and equipment	$ 4,313,782,000		4,313,782,000		4,313,782,000		$ 9,138,886,000
Teekay Offshore
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	$ 316,700,000					$ 43,700,000
Teekay Offshore \| Offshore Logistics
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges				$ 43,700,000
Teekay Offshore \| Impaired Asset \| Offshore Logistics
Impaired Long-Lived Assets Held and Used [Line Items]
Number of vessels \| vessel				2		2		2
Vessels and equipment								$ 0
Petrojarl Foinaven and Banff FPSO
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges			$ 205,700,000		$ 205,700,000
Petrojarl Foinaven FPSO
Impaired Long-Lived Assets Held and Used [Line Items]
Number of vessels \| vessel	2		2		2
African Spirit \| Teekay LNG
Impaired Long-Lived Assets Held and Used [Line Items]
Extension option period		1 year
Write down on sale of vessels			$ 12,500,000		$ 12,500,000
Teide Spirit and Toledo Spirit \| Teekay LNG
Impaired Long-Lived Assets Held and Used [Line Items]
Write down on sale of vessels			$ 25,500,000		$ 25,500,000
Cancellation option period		13 years

Asset Impairments, Loss on Sa50

Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment - Net Loss on Sale of Vessels, Equipment and Other Operating Assets (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets	$ (7,926)	$ (7,838)	$ (25,095)	$ (54,413)
Other
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets	0	65	(357)	(115)
Teekay Tankers \| Conventional Tankers \| 2 Aframaxes
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets	(7,926)	0	(10,669)	0
Teekay Tankers \| Conventional Tankers \| Suezmax
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets			(1,469)	0
Teekay Tankers \| Conventional Tankers \| MR Tanker
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets	$ 0	$ (7,903)	0	(14,323)
Teekay LNG \| Conventional Tankers \| Suezmax
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets			(12,600)	0
Teekay LNG \| Conventional Tankers \| 2 Suezmaxes
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets			0	(27,439)
Teekay Parent \| Conventional Tankers \| 1 VLCC Tanker
Long Lived Assets Held-for-sale [Line Items]
Net Loss on Sale of Vessels, Equipment and Other Assets			$ 0	$ (12,536)

Asset Impairments, Loss on Sa51

Asset Impairments, Loss on Sale of Vessels, Equipment and Other Operating Assets and Write-Down of Equity Investment - Write-Down of Equity Investment (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	May 31, 2017	Sep. 30, 2017
Tanker Investments Limited
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		8.20%
Tanker Investments Limited
Schedule of Equity Method Investments [Line Items]
Impairment		$ 48.6
Tanker Investments Limited \| Common Stock
Schedule of Equity Method Investments [Line Items]
Number of shares owned (in shares)		2.5
Teekay Tankers \| Tanker Investments Limited
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership interest		11.30%
Teekay Tankers \| Tanker Investments Limited
Schedule of Equity Method Investments [Line Items]
Purchase of common stock (in shares)	27
Teekay Tankers \| Tanker Investments Limited \| Common Stock
Schedule of Equity Method Investments [Line Items]
Number of shares purchased (USD per share)	$ 3.3
Number of shares owned (in shares)		3.4

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Nov. 30, 2015	Jan. 27, 2010
Debt Instrument [Line Items]
Total Principal	$ 3,374,560	$ 6,730,132
Unamortized discount and debt issuance costs	(26,048)	(90,586)
Total debt	3,348,512	6,639,546
Less current portion	(727,434)	(998,591)
Long-term portion	2,621,078	5,640,955
Senior Notes (8.5%) due January 15, 2020
Debt Instrument [Line Items]
Total Principal	$ 592,657	592,657
Interest rate	8.50%		8.50%	8.50%
Norwegian Kroner-denominated Bonds due through 2021
Debt Instrument [Line Items]
Total Principal	$ 389,320	628,257
U.S. Dollar-denominated Term Loans due through 2028
Debt Instrument [Line Items]
Total Principal	1,264,070	3,702,997
U.S. Dollar Bonds due through 2024
Debt Instrument [Line Items]
Total Principal	0	466,680
Euro-denominated Term Loans due through 2023
Debt Instrument [Line Items]
Total Principal	233,764	219,733
Other U.S. Dollar-denominated loan
Debt Instrument [Line Items]
Total Principal	10,000	0
Revolving Credit Facilities
Debt Instrument [Line Items]
Total Principal	$ 884,749	$ 1,119,808

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information - Revolvers (Detail) - Revolving Credit Facilities shares in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)term_loanvesselshares	Dec. 31, 2016USD ($)credit_facility
Debt Instrument [Line Items]
Number of credit facilities \| term_loan	7
Credit facility, maximum borrowing capacity	$ 1,100,000,000
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 remainder of 2017	$ 24,900,000
Available capacity reduced under revolving credit facility in 2018	741,600,000
Available capacity reduced under revolving credit facility in 2019	0
Available capacity reduced under revolving credit facility in 2020	0
Available capacity reduced under revolving credit facility thereafter	$ 292,700,000
Number of vessels for collateral \| vessel	39
Secured debt
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 200,000,000
Teekay Offshore
Debt Instrument [Line Items]
Number of credit facilities \| credit_facility		5
Credit facility, maximum borrowing capacity		$ 291,800,000
Minimum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	0.45%	0.45%
Maximum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	4.00%	4.00%
Class A common stock \| Teekay Offshore \| Securities Pledged as Collateral
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages (in units) \| shares	38.2
Class A common stock \| Teekay LNG \| Securities Pledged as Collateral
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages (in units) \| shares	25.2
Class A common stock \| Teekay Tankers \| Securities Pledged as Collateral
Debt Instrument [Line Items]
Number of other securities collateralized by first-priority mortgages (in units) \| shares	16.8

Long-Term Debt - Additional I54

Long-Term Debt - Additional Information - Senior Unsecured Notes (Detail) - Senior Notes (8.5%) due January 15, 2020 - USD ($)	Jan. 27, 2010	Nov. 30, 2015	Sep. 30, 2017
Debt Instrument [Line Items]
Fixed interest rate on the portion of U. S. Dollar-denominated term loans outstanding	8.50%	8.50%	8.50%
Debt instrument, principal amount	$ 450,000,000	$ 200,000,000
Percentage over par at which notes sold	99.181%	99.01%
Effective interest rate			8.67%
Capitalized cost included in other non-current asset			$ 13,300,000
Unamortized debt issuance expense			$ 4,300,000
Debt instrument, redemption price as percentage of principal amount			100.00%
Discount rate for redemption feature			50.00%

Long-Term Debt - Additional I55

Long-Term Debt - Additional Information - NOK Bonds (Detail) - Nibor Loan $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)term_loan	Sep. 30, 2017NOK	May 31, 2015NOK
Teekay LNG \| Norwegian Kroner Denominated Bonds Due Through October 2021
Debt Instrument [Line Items]
Unsecured senior bonds \| NOK			NOK 3,100,000,000
Debt instrument, carrying amount	$ 389.3
Debt instrument transfer of principal amount	$ 430.5
Senior unsecured bonds issued \| NOK				NOK 3,100,000,000
Teekay LNG \| Norwegian Kroner Denominated Bonds Due Through October 2021 \| Minimum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	3.70%
Fixed interest rates based on cross currency swaps	5.92%		5.92%
Teekay LNG \| Norwegian Kroner Denominated Bonds Due Through October 2021 \| Maximum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	6.00%
Fixed interest rates based on cross currency swaps	7.72%		7.72%
Teekay Offshore
Debt Instrument [Line Items]
Debt instrument, carrying amount		$ 256.9
Number of debt instruments \| term_loan		3

Long-Term Debt - Additional I56

Long-Term Debt - Additional Information - USD Term Loans (Detail) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017USD ($)term_loanvessel	Dec. 31, 2016USD ($)term_loanvessel
Debt Instrument [Line Items]
Outstanding amount	$ 3,374,560	$ 6,730,132
Secured debt
Debt Instrument [Line Items]
Number of debt instruments \| term_loan	8
Outstanding amount	$ 1,300,000	$ 3,700,000
Number of term loans which have balloon or bullet repayments \| term_loan	8
Number of vessels \| vessel	16	46
Outstanding term loans not guaranteed by Teekay or its subsidiaries		$ 56,200
Secured debt \| Remaining Term Loans
Debt Instrument [Line Items]
Debt instrument, interest rate terms	LIBOR plus a margin
Secured debt \| Remaining Term Loans \| Three-month LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	0.30%	0.30%
Secured debt \| Remaining Term Loans \| Three-month LIBOR \| Maximum
Debt Instrument [Line Items]
Debt instrument spread on variable rate	2.80%	3.50%
Teekay Offshore \| Secured debt
Debt Instrument [Line Items]
Number of debt instruments \| term_loan		15
Outstanding amount		$ 2,200,000

Long-Term Debt - Additional I57

Long-Term Debt - Additional Information - Senior Unsecured Bonds (Detail) - Teekay Offshore	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2014USD ($)	Nov. 30, 2013USD ($)	Dec. 31, 2016USD ($)Debt_Instruments	Feb. 28, 2015USD ($)
Five-year senior unsecured bonds
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 300,000,000
Debt term	5 years
Ten-year senior unsecured bonds
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 174,200,000
Debt term		10 years
Senior Unsecured Bonds Mature in June 2024
Debt Instrument [Line Items]
Debt instrument, principal amount				$ 30,000,000
Number of debt instruments \| Debt_Instruments			3
Debt instrument, carrying amount			$ 466,700,000

Long-Term Debt - Additional I58

Long-Term Debt - Additional Information - Term Loans (Detail) $ in Thousands, € in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017USD ($)vessel	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)term_loanvesselsubsidiary	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2017EUR (€)vessel	Dec. 31, 2016EUR (€)
Debt Instrument [Line Items]
Long-term debt	$ 3,348,512		$ 3,348,512		$ 6,639,546
Unrealized foreign exchange loss	2,642	$ (6,116)	$ 22,888	$ 19,555
Teekay LNG \| Euro-denominated Term Loans due through 2023
Debt Instrument [Line Items]
Number of debt instruments \| term_loan			2
Long-term debt	$ 233,800		$ 233,800		$ 219,700	€ 197.9	€ 208.9
Reference rate on variable rate of the debt instrument			EURIBOR
Number of vessels \| vessel	2		2			2
Number of subsidiaries \| subsidiary			1
Teekay LNG \| Euro-denominated Term Loans due through 2023 \| Maximum
Debt Instrument [Line Items]
Debt instrument spread on variable rate			2.25%		2.25%
Teekay LNG \| Euro-denominated Term Loans due through 2023 \| Minimum
Debt Instrument [Line Items]
Debt instrument spread on variable rate			0.60%		0.60%

Long-Term Debt - Additional I59

Long-Term Debt - Additional Information - Other (Detail)	9 Months Ended
Long-Term Debt - Additional Information - Other (Detail)	Sep. 30, 2017USD ($)SecurityLoan	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Interest at a weighted-average fixed rate	4.20%	4.00%
Long term debt principal repayments remainder of 2017	$ 100,000,000
Long term debt principal repayments in 2018	1,100,000,000
Long term debt principal repayments in 2019	200,000,000
Long term debt principal repayments in 2020	1,000,000,000
Long term debt principal repayments in 2021	600,000,000
Long term debt principal repayments thereafter	$ 400,000,000
Number of loan agreement \| SecurityLoan	4
Minimum level of free cash be maintained as per loan agreements	$ 50,000,000	$ 50,000,000
Amount of free liquidity and undrawn revolving credit line	$ 47,300,000
Minimum
Debt Instrument [Line Items]
Vessel market value to loan ratio	116.40%
Vessel market value to loan minimum required ratio	105.00%
Revolving credit lines maturity period	6 months
Free liquidity and undrawn revolving credit line as percentage of debt	5.00%
Maximum
Debt Instrument [Line Items]
Vessel market value to loan ratio	232.00%
Vessel market value to loan minimum required ratio	135.00%
Teekay Tankers
Debt Instrument [Line Items]
Amount of free liquidity and undrawn revolving credit line	$ 39,800,000
Teekay Tankers \| Long-term Debt
Debt Instrument [Line Items]
Debt guaranteed	$ 139,200,000

Capital Stock - Capital Stock (

Capital Stock - Capital Stock (Detail)	1 Months Ended	9 Months Ended
Capital Stock - Capital Stock (Detail)	Mar. 31, 2017$ / shares	Sep. 30, 2017USD ($)time$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares	Dec. 31, 2016$ / sharesshares
Class of Stock [Line Items]
Preferred stock, share authorized (in shares)		25,000,000		25,000,000
Preferred stock, par value (in usd per share) \| $ / shares		$ 1		$ 1
Common stock, share authorized (in shares)		725,000,000		725,000,000
Common stock, par value (in usd per share) \| $ / shares		$ 0.001		$ 0.001
Preferred stock, share issued (in shares)		0
Number of common shares or units issued related to the exercise of share based compensation during the period (in shares)		100,000
Stock options granted (in shares)		732,314	916,015
Stock option per share value (in usd per share) \| $ / shares		$ 10.18	$ 9.44
Restricted stock units
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards (in shares)		344,319	238,609
Fair value of granted stock \| $		$ 3,500,000	$ 2,300,000
Vesting period		3 years
Performance shares
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards (in shares)		0	311,691
Fair value of granted stock \| $		$ 0	$ 3,600,000
Vesting period		3 years
Number of times performance units to vest, minimum \| time		0
Restricted stock awards
Class of Stock [Line Items]
Number of shares or units granted equity based compensation awards (in shares)		89,387	67,000
Fair value of granted stock \| $		$ 900,000	$ 600,000
Stock option
Class of Stock [Line Items]
Stock option, term		10 years
Vesting period		3 years
Weighted-average grant-date fair value of options granted (in usd per share) \| $ / shares	$ 4.71
Expected volatility used in computing fair value of options granted		62.40%
Expected life used in computing fair value of options granted, years		5 years 6 months
Dividend yield used in computing fair value of options granted		2.50%
Risk-free interest rate used in computing fair value of options granted		2.00%
Estimated forfeiture rate used in computing fair value of options granted		7.40%
Period of historical data used to calculate expected volatility in years		5 years

Capital Stock - Share-based Com

Capital Stock - Share-based Compensation of Subsidiaries (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period (in shares)			100,000
Stock options granted (in shares)			732,314	916,015
Stock option per share value (in usd per share)			$ 10.18	$ 9.44
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units granted equity based compensation awards (in shares)			344,319	238,609
Vesting period			3 years
Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Teekay Offshore \| Phantom unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units granted equity based compensation awards (in shares)	321,318	601,368
Teekay Offshore \| Non-management directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period (in shares)			56,950	76,084
Teekay LNG \| Phantom unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units granted equity based compensation awards (in shares)	60,809	132,582
Teekay LNG \| Non-management directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period (in shares)			17,345	32,723
Teekay Tankers \| Restricted stock units \| Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units granted equity based compensation awards (in shares)	382,437	279,980
Teekay Tankers \| Non-management directors \| Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares or units issued related to the exercise of share based compensation during the period (in shares)			0	9,358
Teekay Tankers \| Non-management directors \| Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	396,412
Teekay Tankers \| Officer \| Stock option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	3 years
Stock options granted (in shares)	486,329	216,043
Stock option per share value (in usd per share)	$ 2.23	$ 3.74
Maximum contractual term	10 years	10 years
Teekay Offshore Teekay Lng And Teekay Tankers \| Restricted stock and phantom share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common units aggregate value, granted	$ 3.5	$ 4.9
Vesting period			3 years
Teekay Offshore Teekay Lng And Teekay Tankers \| Non-management directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common units aggregate value, granted			$ 0.6	$ 0.7

Commitments and Contingencies -

Commitments and Contingencies - Additional Information - Vessels Under Construction (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)vessel	Dec. 31, 2016USD ($)
Long-term Purchase Commitment [Line Items]
Payments made towards commitments for construction of certain carriers and tankers	$ 492,800	$ 987,658
Newbuildings
Long-term Purchase Commitment [Line Items]
Expected cost of project	1,700,000
Payments made towards commitments for construction of certain carriers and tankers	500,000
Estimated remaining payments required to be made under newbuilding contract remainder of 2017	377,000
Estimated remaining payments required to be made under newbuilding contract in 2018	536,700
Estimated remaining payments required to be made under newbuilding contract in 2019	$ 252,100
Newbuildings \| Liquefied Natural Gas
Long-term Purchase Commitment [Line Items]
Number of vessels \| vessel	8
Newbuildings \| Delivery in 2017 \| Liquefied Natural Gas
Long-term Purchase Commitment [Line Items]
Number of vessels \| vessel	2
Newbuildings \| Delivery in 2018 \| Liquefied Natural Gas
Long-term Purchase Commitment [Line Items]
Number of vessels \| vessel	4
Newbuildings \| Delivery in 2019 \| Liquefied Natural Gas
Long-term Purchase Commitment [Line Items]
Number of vessels \| vessel	2

Commitments and Contingencies63

Commitments and Contingencies - Joint Ventures (Detail) $ in Thousands	Sep. 30, 2017USD ($)
Newbuildings
Long-term Purchase Commitment [Line Items]
Remainder of 2017	$ 377,000
2,018	536,700
2,019	252,100
Teekay LNG \| BG Joint Venture \| Newbuildings \| Shipbuilding supervision and crew training services
Long-term Purchase Commitment [Line Items]
Secured financing	336,000
Capital Addition Purchase Commitments, Equity Method Investee
Long-term Purchase Commitment [Line Items]
Total	1,183,589
Remainder of 2017	110,937
2,018	556,064
2,019	318,683
2,020	$ 197,905

Commitments and Contingencies64

Commitments and Contingencies - Additional Information - Liquidity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Net loss	$ 383,065	$ (80,143)	$ 496,833	$ 45,361
Net operating cash flow			411,479	$ 503,773
Working capital deficit	373,600		373,600
Current portion of long-term debt	$ 727,434		$ 727,434		$ 998,591

Commitments and Contingencies65

Commitments and Contingencies - Additional Information - Legal Proceedings and Claims - Class Action Complaint (Details) - $ / shares	1 Months Ended		3 Months Ended			9 Months Ended
	Dec. 31, 2015	Sep. 30, 2014	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2017	Sep. 30, 2016
Loss Contingencies [Line Items]
Quarterly dividend (in usd per share)			$ 0.055	$ 0.055		$ 0.165	$ 0.165
Class Action Complaint
Loss Contingencies [Line Items]
Quarterly dividend (in usd per share)	$ 0.055	$ 0.55			$ 0.55

Commitments and Contingencies66

Commitments and Contingencies - Additional Information - Legal Proceedings and Claims - Teekay Nakilat Capital Lease (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)vesselagreement	Dec. 22, 2014USD ($)
Teekay LNG \| Teekay Nakilat Corporation
Loss Contingencies [Line Items]
Number of vessels \| vessel	3
Security deposit against future claims		$ 6.8
Teekay LNG \| RasGas II LNG Carriers \| Foreign Tax Authority
Loss Contingencies [Line Items]
Share of potential exposure	70.00%
Teekay Nakilat Joint Venture \| Foreign Tax Authority
Loss Contingencies [Line Items]
Estimated shares of lease rental increase claim	$ 42
Teekay Nakilat Corporation \| Teekay LNG
Loss Contingencies [Line Items]
Number of lease agreements \| agreement	3
Lease term	30 years
Teekay Nakilat Joint Venture \| Teekay LNG \| Teekay Nakilat Corporation
Loss Contingencies [Line Items]
Share of potential exposure	70.00%

Commitments and Contingencies67

Commitments and Contingencies - Additional Information - Redeemable Non-Controlling Interest (Detail) - Teekay Offshore - $ / shares	Jul. 31, 2015	Jun. 30, 2016	Jul. 31, 2015	Sep. 30, 2017	Sep. 25, 2017	Sep. 30, 2016
Redeemable Noncontrolling Interest [Line Items]
Weighted average price of common units (dollars per share)	$ 35.925
Series C Preferred Stock
Redeemable Noncontrolling Interest [Line Items]
Units issued (in units)			10,400,000
Preferred units dividend rate			8.60%
Conversion period		18 months	18 months
Shares issued upon conversion (in units)	1		1
Period for optional conversion to common units			3 years
Series C-1 Preferred Units
Redeemable Noncontrolling Interest [Line Items]
Shares issued upon conversion (in units)				1.474
Conversion of convertible securities (in shares)		8,500,000
Percent of issuance price		150.00%
Issuance price (in dollars per share)		$ 16.25
Redemption price per share (in dollars per share)					$ 18.20
Series D Preferred Stock
Redeemable Noncontrolling Interest [Line Items]
Units issued (in units)		4,000,000
Preferred units dividend rate		10.50%
Premium to liquidation value in redemption after June 29, 2021		10.00%
Premium to liquidation value in redemption after June 29, 2022		5.00%
Consecutive trading days		10 days
Redemption price per share (in dollars per share)					$ 23.75	$ 4
Percent of common units purchased		90.00%
Change in ownership percentage of the general partner (or more)		50.00%
Induced Exchange of Series C Preferred Units \| Series C Preferred Stock
Redeemable Noncontrolling Interest [Line Items]
Shares converted (in shares)		1,900,000
Extinguishment of Series C Preferred Units \| Series C Preferred Stock
Redeemable Noncontrolling Interest [Line Items]
Shares converted (in shares)		8,500,000
Limited Partner \| Common Stock
Redeemable Noncontrolling Interest [Line Items]
Conversion of convertible securities (in shares)		8,300,000

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Financial Instruments and Other Non-Financial Assets (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Recurring
Stock purchase warrants	$ 44,479,000	$ 11,754,000
Non-recurring
Assets held for sale	23,400,000	61,282,000
Other
Loans to equity-accounted investees and joint venture partners - Current	165,118,000	9,471,000
Loans to equity-accounted investees and joint venture partners - Long-term	145,804,000	292,209,000
Long-term debt	(3,348,512,000)	(6,639,546,000)
Carrying Amount Asset (Liability)
Other
Loans to equity-accounted investees and joint venture partners - Current	165,118,000	11,821,000
Loans to equity-accounted investees and joint venture partners - Long-term	145,804,000	292,209,000
Carrying Amount Asset (Liability) \| Level 1 \| Public
Other
Long-term debt	(974,349,000)	(1,503,472,000)
Carrying Amount Asset (Liability) \| Level 2
Other
Obligations related to capital leases, including current portion	(150,956,000)
Carrying Amount Asset (Liability) \| Level 2 \| Non-public
Other
Long-term debt	(2,374,163,000)	(5,136,074,000)
Obligations related to capital leases, including current portion		0
Carrying Amount Asset (Liability) \| Level 3
Other
Long-term receivable included in accounts receivable and other assets	5,028,000	10,985,000
Carrying Amount Asset (Liability) \| Recurring \| Level 1
Recurring
Cash and cash equivalents, restricted cash, and marketable securities	556,194,000	805,567,000
Carrying Amount Asset (Liability) \| Recurring \| Level 1 \| Freight forward agreements
Recurring
Freight forward agreements	(79,000)	0
Carrying Amount Asset (Liability) \| Recurring \| Level 2 \| Interest rate swap agreements
Recurring
Interest rate swap agreements – assets	3,100,000	7,943,000
Interest rate swap agreements – liabilities	(86,493,000)	(302,935,000)
Carrying Amount Asset (Liability) \| Recurring \| Level 2 \| Cross currency interest swap agreement
Recurring
Cross currency interest swap agreement and Foreign currency contracts	(41,268,000)	(237,165,000)
Carrying Amount Asset (Liability) \| Recurring \| Level 2 \| Foreign currency contracts
Recurring
Cross currency interest swap agreement and Foreign currency contracts	537,000	(2,993,000)
Carrying Amount Asset (Liability) \| Recurring \| Level 3 \| Stock purchase warrants
Recurring
Stock purchase warrants	32,135,000	575,000
Carrying Amount Asset (Liability) \| Recurring \| Level 3 \| Time-charter swap agreement
Recurring
Time-charter swap agreement	0	208,000
Freight forward agreements	(100,000)
Carrying Amount Asset (Liability) \| Non-recurring \| Level 2
Non-recurring
Assets held for sale	6,400,000	61,282,000
Long-term investments	0	6,000,000
Carrying Amount Asset (Liability) \| Non-recurring \| Level 3
Non-recurring
Vessels and equipment	130,200,000	11,300,000
Vessels under capital leases	52,914,000	0
Fair Value Asset (Liability) \| Level 1 \| Public
Other
Long-term debt	(996,360,000)	(1,409,996,000)
Fair Value Asset (Liability) \| Level 2
Other
Obligations related to capital leases, including current portion	(150,671,000)
Fair Value Asset (Liability) \| Level 2 \| Non-public
Other
Long-term debt	(2,334,229,000)	(5,009,900,000)
Obligations related to capital leases, including current portion		0
Fair Value Asset (Liability) \| Level 3
Other
Long-term receivable included in accounts receivable and other assets	5,004,000	10,944,000
Fair Value Asset (Liability) \| Recurring \| Level 1
Recurring
Cash and cash equivalents, restricted cash, and marketable securities	556,194,000	805,567,000
Fair Value Asset (Liability) \| Recurring \| Level 1 \| Freight forward agreements
Recurring
Freight forward agreements	(79,000)	0
Fair Value Asset (Liability) \| Recurring \| Level 2 \| Interest rate swap agreements
Recurring
Interest rate swap agreements – assets	3,100,000	7,943,000
Interest rate swap agreements – liabilities	(86,493,000)	(302,935,000)
Fair Value Asset (Liability) \| Recurring \| Level 2 \| Cross currency interest swap agreement
Recurring
Cross currency interest swap agreement and Foreign currency contracts	(41,268,000)	(237,165,000)
Fair Value Asset (Liability) \| Recurring \| Level 2 \| Foreign currency contracts
Recurring
Cross currency interest swap agreement and Foreign currency contracts	537,000	(2,993,000)
Fair Value Asset (Liability) \| Recurring \| Level 3 \| Stock purchase warrants
Recurring
Stock purchase warrants	32,135,000	575,000
Fair Value Asset (Liability) \| Recurring \| Level 3 \| Time-charter swap agreement
Recurring
Time-charter swap agreement	0	208,000
Fair Value Asset (Liability) \| Non-recurring \| Level 2
Non-recurring
Assets held for sale	6,400,000	61,282,000
Long-term investments	0	6,000,000
Fair Value Asset (Liability) \| Non-recurring \| Level 3
Non-recurring
Vessels and equipment	130,200,000	11,300,000
Vessels under capital leases	$ 52,914,000	$ 0

Financial Instruments - Fair 69

Financial Instruments - Fair Value of Financial Instruments and Other Non-Financial Assets (Footnote) (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Accrued interest expense	$ 3,000	$ 15,800
BG Joint Venture \| Supply Commitment
Derivatives, Fair Value [Line Items]
Discount rate	8.00%	8.00%
Level 3 \| Fair Value Asset (Liability)
Derivatives, Fair Value [Line Items]
Long-term receivable included in other assets	$ 5,004	$ 10,944
Level 3 \| BG Joint Venture \| Supply Commitment \| Fair Value Asset (Liability)
Derivatives, Fair Value [Line Items]
Long-term receivable included in other assets	$ 5,000	$ 10,900

Financial Instruments - Time-Ch

Financial Instruments - Time-Charter Swap Agreement and Stock Purchase Warrants (Detail) - Recurring - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Time-charter swap agreement \| Teekay Tankers
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair value asset - beginning of the period			$ 875
Settlements			(1,106)
Realized and unrealized gain			231
Fair value asset - at the end of the period	$ 0		0
Stock purchase warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair value asset - beginning of the period	0	$ 1,833	575	$ 10,328
Fair value on issuance	36,596	0	36,596	0
Realized and unrealized gain	(4,461)	(399)	(5,036)	(8,894)
Fair value asset - at the end of the period	$ 32,135	$ 1,434	$ 32,135	$ 1,434

Financial Instruments - Narrati

Financial Instruments - Narrative (Detail)	Sep. 25, 2017USD ($)day$ / shares	Sep. 30, 2017USD ($)vessel$ / sharesshares	Jan. 31, 2014shares	Sep. 30, 2017USD ($)vessel$ / sharesshares	Dec. 31, 2016USD ($)$ / shares
Stock Purchase Warrants
Common stock, par value (in usd per share) \| $ / shares		$ 0.001		$ 0.001	$ 0.001
Stock purchase warrants		$ 44,479,000		$ 44,479,000	$ 11,754,000
Number of shares available through exercise of stock purchase warrant \| shares			1,500,000	1,500,000
Foinaven FPSO And Banff FPSO \| FSPO Unit
Vessels and equipment
Number of vessels \| vessel		2		2
Discount rate		10.00%
Foinaven FPSO \| FSPO Unit
Vessels and equipment
Vessels and equipment		$ 113,000,000		$ 113,000,000
Teekay Offshore
Stock Purchase Warrants
Exercise price of warrants (in usd per unit) \| $ / shares	$ 0.01
Common stock, par value (in usd per share) \| $ / shares	$ 4
Trading period \| day	10
Term of warrants	7 years
Stock purchase warrants \| Brookfield
Stock Purchase Warrants
Number of shares available through exercise of stock purchase warrant (in shares) \| shares		14,500,000		14,500,000
Stock purchase warrants \| Brookfield Transaction
Stock Purchase Warrants
Stock purchase warrants	$ 34,700,000
Stock purchase warrants \| Brookfield Transaction \| Teekay Offshore
Stock Purchase Warrants
Stock purchase warrants	34,700,000	$ 30,500,000		$ 30,500,000
Stock purchase warrants \| Tanker Investments Limited
Stock Purchase Warrants
Stock purchase warrants		$ 0		$ 0
Series D Warrant
Stock Purchase Warrants
Number of shares available through exercise of stock purchase warrant (in shares) \| shares		1,755,000		1,755,000
Exercise price of warrants (in usd per unit) \| $ / shares		$ 4.55		$ 4.55
Term of warrants				7 years
Exercise term				6 months
Series D Warrant \| Teekay Offshore
Stock Purchase Warrants
Stock purchase warrants	$ 1,900,000	$ 1,600,000		$ 1,600,000
Series D Warrant \| Teekay Offshore
Stock Purchase Warrants
Number of shares available through exercise of stock purchase warrant (in shares) \| shares		1,755,000		1,755,000
Volatility rate				84.20%

Financial Instruments - Financi

Financial Instruments - Financing Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other loan receivables
Total direct financing leases and other loan receivables	$ 956,304	$ 982,336
Performing \| Payment activity
Class of Financing Receivable
Direct financing leases	633,805	660,594
Other loan receivables
Long-term receivable included in other assets	11,577	17,712
Performing \| Other internal metrics
Other loan receivables
Loans to equity-accounted investees and joint venture partners	$ 310,922	$ 304,030

Restructuring Charges (Detail)

Restructuring Charges (Detail) $ in Thousands	3 Months Ended		9 Months Ended
Restructuring Charges (Detail) $ in Thousands	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)office	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)office	Dec. 31, 2016USD ($)
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 2,883	$ 3,117	$ 5,059	$ 22,921
Number of offices closed \| office		2		2
Restructuring liability	$ 1,400		$ 1,400		$ 5,600

Accumulated Other Comprehensi74

Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	$ 2,622,158	$ 4,089,293
Unrealized loss on qualifying cash flow hedging instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	398	(41)
Pension adjustments, net of tax recoveries
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	(12,332)	(12,160)
Unrealized gain (loss) on marketable securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	22	(416)
Foreign exchange gain on currency translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	2,683	2,014
AOCI Including Portion Attributable to Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Loss	$ (9,229)	$ (10,603)

Derivative Instruments and He75

Derivative Instruments and Hedging Activities - Commitment of Foreign Currency Forward Contracts (Detail) - Norwegian Kroner NOK in Thousands, $ in Thousands	Sep. 30, 2017USD ($)NOK / $	Sep. 30, 2017NOKNOK / $
Derivative [Line Items]
Average Forward Rate \| NOK / $	8.24	8.24
Fair Value / Carrying Amount of Asset (Liability)	$ 537
Expected Maturity, 2017	3,616
Expected Maturity, 2018	$ 12,153
Contract Amount in Foreign Currency
Derivative [Line Items]
Contract Amount in Foreign Currency \| NOK		NOK 130,000

Derivative Instruments and He76

Derivative Instruments and Hedging Activities - Commitment of Cross Currency Swaps (Detail) - Cross Currency Interest Rate Contract NOK in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017NOK
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (41,268)
NIBOR \| 4.35%
Derivative [Line Items]
Notional Amount	$ 150,000	NOK 900,000
Receivable Margin	4.35%	4.35%
Fixed Interest Rate	6.43%	6.43%
Fair Value / Carrying Amount of Asset / (Liability)	$ (39,088)
Remaining Term (years)	10 months 24 days
NIBOR \| 3.70%
Derivative [Line Items]
Notional Amount	$ 134,000	NOK 1,000,000
Receivable Margin	3.70%	3.70%
Fixed Interest Rate	5.92%	5.92%
Fair Value / Carrying Amount of Asset / (Liability)	$ (9,862)
Remaining Term (years)	2 years 7 months 6 days
NIBOR \| 6.00%
Derivative [Line Items]
Notional Amount	$ 146,500	NOK 1,200,000
Receivable Margin	6.00%	6.00%
Fixed Interest Rate	7.70%	7.70%
Fair Value / Carrying Amount of Asset / (Liability)	$ 7,682
Remaining Term (years)	4 years 1 month 18 days

Derivative Instruments and He77

Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Detail) $ in Thousands, € in Millions	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017EUR (€)
U.S. Dollar-denominated interest rate swaps \| LIBOR
Derivative [Line Items]
Principal Amount	$ 1,014,701
Fair Value / Carrying Amount of Asset / (Liability)	$ (31,522)
Weighted-Average Remaining Term (Years)	5 years 2 months 12 days
Fixed Interest Rate	2.80%	2.80%
U.S. Dollar-denominated interest rate swaps \| LIBOR
Derivative [Line Items]
Principal Amount	$ 331,933
Fair Value / Carrying Amount of Asset / (Liability)	$ (20,538)
Weighted-Average Remaining Term (Years)	1 year 10 months 2 days
Fixed Interest Rate	3.40%	3.40%
U.S. Dollar-denominated interest rate swaption \| LIBOR
Derivative [Line Items]
Principal Amount	$ 160,000
Fair Value / Carrying Amount of Asset / (Liability)	$ (535)
Weighted-Average Remaining Term (Years)	3 months 18 days
Fixed Interest Rate	2.00%	2.00%
U.S. Dollar-denominated interest rate swaption \| LIBOR
Derivative [Line Items]
Principal Amount	$ 160,000
Fair Value / Carrying Amount of Asset / (Liability)	$ 15
Weighted-Average Remaining Term (Years)	3 months 18 days
Fixed Interest Rate	3.10%	3.10%
Euro-denominated interest rate swaps
Derivative [Line Items]
Principal Amount \| €		€ 197.9
Euro-denominated interest rate swaps \| EURIBOR
Derivative [Line Items]
Principal Amount	$ 233,763
Fair Value / Carrying Amount of Asset / (Liability)	$ (30,813)
Weighted-Average Remaining Term (Years)	3 years 2 months 16 days
Fixed Interest Rate	3.10%	3.10%
Interest rate swap agreements
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (83,393)

Derivative Instruments and He78

Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Footnote) (Detail) $ in Thousands, € in Millions	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017EUR (€)
U.S. Dollar-denominated interest rate swaption \| LIBOR
Derivative [Line Items]
Fixed interest rates based on cross currency swaps	3.10%	3.10%
Interest rate swap aggregate principal amount used to economically hedge on new debt \| $	$ 160,000
U.S. Dollar-denominated interest rate swaption \| LIBOR \| Third Party
Derivative [Line Items]
Fixed interest rates based on cross currency swaps	1.97%	1.97%
Euro-denominated interest rate swaps
Derivative [Line Items]
Reduced principal amount	$ 82,800	€ 70.1
Interest rate swap aggregate principal amount used to economically hedge on new debt \| €		€ 197.9
Teekay LNG \| U.S. Dollar-denominated interest rate swaption \| LIBOR
Derivative [Line Items]
Fixed interest rates based on cross currency swaps	3.10%	3.10%
Minimum \| Interest rate swap agreements
Derivative [Line Items]
Minimum variable interest rate on debt	0.30%
Maximum \| Interest rate swap agreements
Derivative [Line Items]
Minimum variable interest rate on debt	4.00%

Derivative Instruments and He79

Derivative Instruments and Hedging Activities - Additional Information (Detail)	Jun. 01, 2016USD ($)vessel	Jan. 31, 2014shares	Sep. 30, 2017USD ($)shares	Sep. 25, 2017USD ($)	Dec. 31, 2016USD ($)
Derivative [Line Items]
Stock purchase warrants			$ 44,479,000		$ 11,754,000
Number of shares available through exercise of stock purchase warrant \| shares		1,500,000	1,500,000
Time-charter Swap Agreement
Time-charter Swap
Percent of required need	55.00%
Daily payments received	$ 27,776
Brokerage fee percent	1.25%
Deduction from daily payments made, less than	$ 500
Term of contract	11 years
Counterparty option	2 months		2 months
Interest Rate Swaps, Cross Currency Swaps Agreement and Foreign Currency Forward Contracts
Time-charter Swap
Fair value asset of interest rate swaps, cross currency swaps and foreign currency forward contracts having master agreements providing for net settlement			$ 11,300,000
Fair value liability of interest rate swaps, cross currency swaps and foreign currency forward contracts having master agreements providing for net settlement			85,800,000
Restricted cash			14,200,000
Interest Rate Swaps
Time-charter Swap
Amounts In AOCI to be recognized in next 12 months			800,000
Recurring \| Level 3 \| Reported Value Measurement \| Time-charter Swap Agreement
Time-charter Swap
Agreements			0		$ 208,000
Derivative liability			$ 100,000
Teekay Tankers \| Time-charter Swap Agreement
Time-charter Swap
Number of vessel-equivalents \| vessel	2
Stock purchase warrants \| Brookfield
Derivative [Line Items]
Number of shares available through exercise of stock purchase warrant (in shares) \| shares			14,500,000
Series D Warrant
Derivative [Line Items]
Number of shares available through exercise of stock purchase warrant (in shares) \| shares			1,755,000
Series D Warrant \| Teekay Offshore
Derivative [Line Items]
Number of shares available through exercise of stock purchase warrant (in shares) \| shares			1,755,000
Series D Warrant \| Teekay Offshore
Derivative [Line Items]
Stock purchase warrants			$ 1,600,000	$ 1,900,000
Brookfield Transaction \| Stock purchase warrants
Derivative [Line Items]
Stock purchase warrants				34,700,000
Brookfield Transaction \| Stock purchase warrants \| Teekay Offshore
Derivative [Line Items]
Stock purchase warrants			$ 30,500,000	$ 34,700,000

Derivative Instruments and He80

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	$ 786	$ 1,206
Other Non-Current Assets	44,479	11,754
Accrued Liabilities and Other	(3,089)	(16,473)
Current Portion of Derivative Liabilities	(71,956)	(115,813)
Derivative Liabilities	(62,288)	(415,041)
Derivatives not designated as a cash flow hedge
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	29	875
Other Non-Current Assets	0	0
Accrued Liabilities and Other	(108)	(667)
Current Portion of Derivative Liabilities	0	0
Derivative Liabilities	0	0
Derivatives not designated as a cash flow hedge \| Foreign Currency Contracts
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	537	119
Other Non-Current Assets	0	0
Accrued Liabilities and Other	0	0
Current Portion of Derivative Liabilities	0	(2,601)
Derivative Liabilities	0	(511)
Derivatives not designated as a cash flow hedge \| Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	220	212
Other Non-Current Assets	3,069	9,839
Accrued Liabilities and Other	(2,256)	(11,979)
Current Portion of Derivative Liabilities	(28,978)	(59,055)
Derivative Liabilities	(54,039)	(233,901)
Derivatives not designated as a cash flow hedge \| Cross Currency Swap Agreements
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0	0
Other Non-Current Assets	8,688	0
Accrued Liabilities and Other	(700)	(3,464)
Current Portion of Derivative Liabilities	(41,612)	(53,124)
Derivative Liabilities	(7,644)	(180,577)
Derivatives not designated as a cash flow hedge \| Stock Purchase Warrants
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0	0
Other Non-Current Assets	32,135	575
Accrued Liabilities and Other	0	0
Current Portion of Derivative Liabilities	0	0
Derivative Liabilities	0	0
Derivative \| Derivatives designated as a cash flow hedge \| Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0	0
Other Non-Current Assets	587	1,340
Accrued Liabilities and Other	(25)	(363)
Current Portion of Derivative Liabilities	(1,366)	(1,033)
Derivative Liabilities	$ (605)	$ (52)

Derivative Instruments and He81

Derivative Instruments and Hedging Activities - Effective Portion of Gains (Losses) on Interest Rate Swap Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative [Line Items]
Effective Portion Recognized in AOCI	$ (115)	$ 1,482	$ (1,677)	$ (12,543)
Effective Portion Reclassified from AOCI	(424)	0	(1,186)	0
Ineffective Portion	(7)	(3)	(762)	(59)
Interest Expense
Derivative [Line Items]
Effective Portion Recognized in AOCI	(115)	1,482	(1,677)	(12,543)
Effective Portion Reclassified from AOCI	(424)	0	(1,186)	0
Ineffective Portion	$ (7)	$ (3)	$ (762)	$ (59)

Derivative Instruments and He82

Derivative Instruments and Hedging Activities - Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	$ (13,886)	$ (23,706)	$ (46,718)	$ (84,641)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	7,758	53,632	3,545	(82,326)
Total realized and unrealized gains (losses) on derivative instruments	(6,128)	29,926	(43,173)	(166,967)
Interest rate swap agreements
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	(15,729)	(22,219)	(48,199)	(67,808)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	11,575	47,816	5,181	(96,055)
Interest rate swap agreement terminations
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	0	0	(610)	(8,140)
Foreign currency forward contracts
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	1,609	(2,583)	638	(9,915)
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	735	6,006	4,383	21,070
Time-charter swap agreement
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	0	1,096	1,106	1,222
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	0	208	(875)	1,553
Forward freight agreements
Realized (losses) gains relating to:
Derivative instruments not designated as hedging instruments realized (loss) gain net	234	0	347	0
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	(91)	0	(108)	0
Stock purchase warrants
Unrealized gains (losses) relating to:
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	$ (4,461)	$ (398)	$ (5,036)	$ (8,894)

Derivative Instruments and He83

Derivative Instruments and Hedging Activities - Effect of Gains (Losses) on Cross Currency Swaps (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized gains (losses) on derivative instruments	$ (6,128)	$ 29,926	$ (43,173)	$ (166,967)
Cross Currency Interest Rate Contract Maturity And Partial Termination
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses	0	0	(25,733)	(32,628)
Cross Currency Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses	(4,234)	(5,612)	(16,369)	(15,551)
Unrealized gains	41,653	40,019	91,749	93,232
Total realized and unrealized gains (losses) on derivative instruments	$ 37,419	$ 34,407	$ 49,647	$ 45,053

Income Tax (Expense) Recovery

Income Tax (Expense) Recovery - Components of Provision for Income Tax (Expense) Recovery (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Current	$ (3,410)	$ (41)	$ (9,355)	$ (8,753)
Deferred	(1,811)	174	(2,412)	6,387
Income tax (expense) recovery	$ (5,221)	$ 133	$ (11,767)	$ (2,366)

Income Tax (Expense) Recovery85

Income Tax (Expense) Recovery - Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 19,492
Increase for positions taken in prior years	1,045
Increase for positions related to the current period	4,874
Decrease related to statute of limitations	(663)
Decrease due to deconsolidation of Teekay Offshore (note 3)	(1,503)
Ending balance	$ 23,245

Net (Loss) Income Per Share - S

Net (Loss) Income Per Share - Schedule of Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net (loss) income attributable to the shareholders of Teekay Corporation	$ (12,582)	$ 6,072	$ (137,990)	$ (120,520)
The Company's portion of the Inducement Premium and Exchange Contribution charged to retained earnings by Teekay Offshore (note 10e)	0	0	0	(4,993)
Net (loss) income attributable to the shareholders of Teekay Corporation - basic and diluted	$ (12,582)	$ 6,072	$ (137,990)	$ (125,513)
Weighted average number of common shares	86,261,330	84,887,101	86,232,315	76,887,689
Dilutive effect of stock-based compensation (shares)	0	86,644	0	0
Common stock and common stock equivalents (in shares)	86,261,330	84,973,745	86,232,315	76,887,689
(Loss) income per common share:
Basic (in usd per share)	$ (0.15)	$ 0.07	$ (1.60)	$ (1.63)
Diluted (in usd per share)	$ (0.15)	$ 0.07	$ (1.60)	$ (1.63)

Net (Loss) Income Per Share - A

Net (Loss) Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Anti-dilutive effect on calculation of diluted loss per common share attributable to outstanding stock-based awards (in shares)	3.9	3.8	3.9	3.8

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, shares in Millions	Nov. 06, 2017USD ($)vessel	Nov. 01, 2017	Oct. 23, 2017USD ($)$ / sharesshares	Oct. 19, 2017	Oct. 13, 2017	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Nov. 16, 2017vessel	Nov. 10, 2017USD ($)
Subsequent Event [Line Items]
Net proceeds from equity issuances of subsidiaries						$ 8,521,000	$ 190,007,000
Revolving Credit Facilities
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity						1,100,000,000
Teekay LNG \| Revolving Credit Facility Maturing 2017 \| Revolving Credit Facilities
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity						$ 170,000,000
Subsequent Event \| LPG
Subsequent Event [Line Items]
Number of vessels with contract termination \| vessel								6
Subsequent Event \| Teekay LNG \| Revolving Credit Facility Maturing 2018 \| Revolving Credit Facilities
Subsequent Event [Line Items]
Credit facility, maximum borrowing capacity									$ 190,000,000
Subsequent Event \| Teekay LNG \| Line of Credit
Subsequent Event [Line Items]
Debt instrument, principal amount	$ 327,000,000
Subsequent Event \| Teekay LNG \| Newbuildings
Subsequent Event [Line Items]
Number of vessels \| vessel	1
Subsequent Event \| Teekay LNG \| Series B Preferred Units
Subsequent Event [Line Items]
Number of units issued (in units) \| shares			6.8
Price per unit (in USD per unit) \| $ / shares			$ 25
Net proceeds from equity issuances of subsidiaries			$ 164,000,000
Dividend rate, percentage			8.50%
Liquidation preference (USD per unit) \| $ / shares			$ 25
Redemption price (USD per unit) \| $ / shares			$ 25
Subsequent Event \| Teekay LNG \| Series B Preferred Units \| LIBOR
Subsequent Event [Line Items]
Basis spread on variable rate			6.241%
Subsequent Event \| Teekay LNG \| Series B Preferred Units \| Underwriter's Over-Allotment Option
Subsequent Event [Line Items]
Number of units issued (in units) \| shares			0.8
Subsequent Event \| Teekay LNG \| Pan Asia
Subsequent Event [Line Items]
Charter contract period					20 years
Subsequent Event \| Teekay LNG \| Macoma
Subsequent Event [Line Items]
Charter contract period				6 years
Subsequent Event \| Teekay LNG \| Murex
Subsequent Event [Line Items]
Charter contract period		7 years
Subsequent Event \| Teekay LNG \| Pan Union Joint Venture
Subsequent Event [Line Items]
Percentage of ownership in joint venture					30.00%
Subsequent Event \| Teekay LNG \| Bahrain LNG Joint Venture
Subsequent Event [Line Items]
Charter contract period	20 years
Subsequent Event \| Teekay LNG \| Bp Plc
Subsequent Event [Line Items]
Charter contract period	13 years