Teekay (TK) 6-K 27 Aug 20 2020 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2020
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	TK
Entity Registrant Name	TEEKAY CORP
Entity Central Index Key	0000911971
Current Fiscal Year End Date	--12-31

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income (Loss) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues (note 3)	$ 482,805,000	$ 462,397,000	$ 1,056,859,000	$ 949,270,000
Voyage expenses	(66,896,000)	(103,410,000)	(188,460,000)	(212,193,000)
Vessel operating expenses	(147,796,000)	(162,621,000)	(301,089,000)	(319,613,000)
Time-charter hire expenses (note 6)	(17,714,000)	(28,817,000)	(44,770,000)	(58,655,000)
Depreciation and amortization	(62,936,000)	(73,849,000)	(135,853,000)	(145,956,000)
General and administrative expenses	(23,668,000)	(20,868,000)	(41,945,000)	(43,840,000)
Write-down and gain (loss) on sale (note 7)	(10,669,000)	0	(105,275,000)	(3,328,000)
Gain on commencement of sales-type lease (note 3)	0	0	44,943,000	0
Restructuring charges (note 14)	(4,622,000)	(1,369,000)	(7,010,000)	(9,990,000)
Income from vessel operations	148,504,000	71,463,000	277,400,000	155,695,000
Interest expense	(59,245,000)	(70,205,000)	(121,765,000)	(143,876,000)
Interest income	2,314,000	2,233,000	5,117,000	4,922,000
Realized and unrealized losses on non-designated derivative instruments (note 16)	(9,270,000)	(10,964,000)	(30,933,000)	(16,387,000)
Equity income (loss) (note 4 and 13b)	35,343,000	(6,284,000)	37,656,000	(67,937,000)
Foreign exchange loss (notes 10 and 16)	(8,922,000)	(5,851,000)	(2,276,000)	(8,481,000)
Other Income (Loss)	(399,000)	(11,099,000)	(1,080,000)	(11,071,000)
Income (loss) before income taxes	108,325,000	(30,707,000)	164,119,000	(87,135,000)
Income tax recovery (expense) (note 17)	17,175,000	(3,404,000)	13,383,000	(8,440,000)
Net income (loss)	125,500,000	(34,111,000)	177,502,000	(95,575,000)
Net income attributable to non-controlling interests	(103,777,000)	(5,374,000)	(205,584,000)	(28,167,000)
Net income (loss) attributable to the shareholders of Teekay Corporation	$ 21,723,000	$ (39,485,000)	$ (28,082,000)	$ (123,742,000)
Earnings Per Share, Basic	$ 0.21	$ (0.39)	$ (0.28)	$ (1.23)
Earnings Per Share, Diluted	$ 0.21	$ (0.39)	$ (0.28)	$ (1.23)
Weighted average number of common shares outstanding (note 18)
Weighted Average Number of Shares Outstanding, Basic	101,107,362	100,783,496	100,997,456	100,652,685
Weighted Average Number of Shares Outstanding, Diluted	101,196,383	100,783,496	100,997,456	100,652,685

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income (loss)	$ 125,500	$ (34,111)	$ 177,502	$ (95,575)
Other comprehensive loss before reclassifications
Unrealized loss on qualifying cash flow hedging instruments	(11,082)	(30,743)	(68,634)	(52,252)
Pension adjustments, net of taxes	(19)	(85)	34	172
Amounts reclassified from accumulated other comprehensive loss relating to:
Other comprehensive loss	(8,192)	(31,182)	(62,103)	(53,529)
Comprehensive income (loss)	117,308	(65,293)	115,399	(149,104)
Comprehensive (income) loss attributable to non-controlling interests	(98,543)	15,789	(164,063)	8,096
Comprehensive income (loss) attributable to shareholders of Teekay Corporation	18,765	(49,504)	(48,664)	(141,008)
Interest Expense
Other comprehensive loss before reclassifications
Unrealized loss on qualifying cash flow hedging instruments		(4,570)		(7,402)
Amounts reclassified from accumulated other comprehensive loss relating to:
Realized loss on qualifying cash flow hedging instruments to equity income	(482)	(157)	634	(408)
Equity Income
Amounts reclassified from accumulated other comprehensive loss relating to:
Realized loss on qualifying cash flow hedging instruments to equity income	$ (2,427)	$ 197	$ 5,931	$ (697)

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current
Cash and cash equivalents (note 10 and 19)	$ 461,152	$ 353,241
Restricted cash – current (note 19)	16,317	56,777
Accounts receivable, including non-trade of $9,140 (2019 – $12,793)	204,941	199,957
Accrued revenue	42,387	107,111
Prepaid expenses and other (note 13)	71,398	86,338
Current portion of net investments in direct financing and sales-type leases, net (notes 3 and 13b)	14,920	273,986
Assets held for sale	0	65,458
Total current assets	811,115	1,142,868
Restricted cash – non-current (note 19)	61,948	44,849
Vessels and equipment (note 10)
At cost, less accumulated depreciation of $1,276,912 (2019 – $1,259,404) (note 7)	2,431,495	2,654,466
Vessels related to finance leases, at cost, less accumulated amortization of $292,557 (2019 – $253,553) (note 6)	2,187,047	2,219,026
Operating lease right-of-use assets (note 6)	81,255	159,638
Total vessels and equipment	4,699,797	5,033,130
Net investment in direct financing and sales-type leases, net – non-current (notes 3 and 13b)	540,066	544,823
Investment in and loans, net to equity-accounted investments (notes 4,12a and 13b)	1,102,386	1,173,728
Goodwill, intangibles and other non-current assets	130,200	133,466
Total assets	7,345,512	8,072,864
Current
Accounts payable	137,910	135,496
Accrued liabilities and other (notes 8, 14 and 16)	303,947	295,001
Short-term debt (note 9)	10,000	50,000
Current portion of long-term debt (note 10)	322,831	523,312
Current obligations related to finance leases (note 6)	97,237	95,339
Current portion of operating lease liabilities (note 6)	32,753	61,431
Liabilities related to assets held for sale (note 7)	0	2,980
Total current liabilities	904,678	1,163,559
Long-term debt (note 10)	1,902,656	2,303,840
Long-term obligations related to finance leases (note 6)	1,681,293	1,730,353
Long-term operating lease liabilities (note 6)	40,229	87,171
Other long-term liabilities (notes 8 and 16)	229,415	216,348
Total liabilities	4,758,271	5,501,271
Equity
Common stock and additional paid-in capital ($0.001 par value; 725,000,000 shares authorized; 101,107,355 shares outstanding and issued (2019 – 100,784,422)) (note 11)	1,054,890	1,052,284
Accumulated deficit	(472,252)	(546,684)
Non-controlling interest	2,058,273	2,089,730
Accumulated other comprehensive loss (note 15)	(53,670)	(23,737)
Total equity	2,587,241	2,571,593
Total liabilities and equity	$ 7,345,512	$ 8,072,864

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Accounts receivable, non-trade	$ 10,688	$ 12,793
Accounts receivable, related party balance	2,444	$ 1,677
Accumulated depreciation on finance leases	$ 292,557
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)	100,784,683	100,784,422
Common stock, share issued (in shares)	100,784,683	100,784,422

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net income (loss)	$ 177,502	$ (95,575)
Non-cash and non-operating items:
Depreciation and amortization	135,853	145,956
Unrealized loss on derivative instruments (note 16)	27,544	14,933
Write-down and gain (loss) on sale (note 7)	105,275	3,328
Gain on commencement of sales-type lease (note 3)	44,943	0
Equity (income) loss, net of dividends received	(22,804)	85,211
Income tax (recovery) expense (note 17)	13,383	(8,440)
Foreign currency exchange loss and other	6,133	26,304
Direct financing lease payments received	334,146	6,050
Change in other operating assets and liabilities	75,978	18,427
Expenditures for dry docking	5,608	34,150
Net Cash Provided by (Used in) Operating Activities	775,693	178,924
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt, net of issuance costs	931,871	376,658
Early Repayment of Senior Debt	1,302,389	759,401
Scheduled repayments of long-term debt and settlement of related swaps (note 10)	(240,355)	(117,110)
Proceeds from short-term debt	205,000	65,000
Prepayment of short-term debt	(245,000)	(50,000)
Proceeds from financing related to sale-leaseback of vessels	0	222,400
Repayments of obligations related to finance leases	47,162	45,928
Repurchase of Teekay LNG common units	15,635	12,056
Distributions paid from subsidiaries to non-controlling interests	(35,519)	(30,465)
Cash dividends paid	0	5,523
Other financing activities	(794)	(580)
Net Cash Provided by (Used in) Financing Activities	(749,983)	(357,005)
INVESTING ACTIVITIES
Expenditures for vessels and equipment	(12,824)	(89,120)
Proceeds from sale of vessels and equipment	60,915	0
Proceeds from Divestiture of Businesses, Net of Cash Divested	12,221	100,000
Investment in equity-accounted investments	0	15,555
Loan repayment by joint venture	(3,500)	0
Other investing activities	(6,430)	0
Net Cash Provided by (Used in) Investing Activities	57,382	(4,675)
Increase (decrease) in cash, cash equivalents, restricted cash and cash held for sale	83,092	(182,756)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning balance	456,325	505,639
Cash, cash equivalents, restricted cash and restricted cash equivalents, ending balance	$ 539,417	$ 322,883

Unaudited Consolidated Statem_4

Unaudited Consolidated Statement of Changes in Total Equity - USD ($) $ in Thousands	Total	Common Stock	Common Stock and Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	AOCI Including Portion Attributable to Noncontrolling Interest [Member]	Accumulated Other Comprehensive Loss	Non-controlling Interests	Common Stock
Accumulated other comprehensive loss (note 15)					$ (2,273)
Common Stock, Dividends, Per Share, Declared	$ 0.055
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted				$ (84,257)
Net Income (Loss) Attributable to Noncontrolling Interest							$ 22,793
Beginning Balance (in shares) at Dec. 31, 2018		100,435,000
Beginning Balance at Dec. 31, 2018	$ 2,867,028		$ 1,045,659	(234,395)			2,058,037
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(61,464)
Other comprehensive loss	(22,347)					$ (7,247)	(15,100)
Dividends declared:	13,892			5,385			13,892	$ 5,385
Employee stock compensation and other, number of shares		264,000
Employee stock compensation and other	2,964		2,964
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(2,991)			606		(1,604)	(1,993)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Issuance of Equity by Subsidiary to Noncontrolling Interests	7,823			1,526		0
Changes to non-controlling interest from equity contributions and other							(9,349)
Ending Balance (in shares) at Mar. 31, 2019		100,699,000
Ending Balance at Mar. 31, 2019	2,756,090		1,048,623	(321,905)			2,040,496
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted	(123,742)
Net Income (Loss) Attributable to Noncontrolling Interest	28,167
Beginning Balance (in shares) at Dec. 31, 2018		100,435,000
Beginning Balance at Dec. 31, 2018	2,867,028		1,045,659	(234,395)			2,058,037
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(95,575)
Other comprehensive loss	(53,529)
Ending Balance (in shares) at Jun. 30, 2019		100,784,000
Ending Balance at Jun. 30, 2019	$ 2,672,625		1,049,531	(361,162)			2,005,399
Accumulated other comprehensive loss (note 15)					(11,124)
Common Stock, Dividends, Per Share, Declared	$ 0
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted	$ (39,485)			(39,485)
Net Income (Loss) Attributable to Noncontrolling Interest	5,374						5,374
Beginning Balance (in shares) at Mar. 31, 2019		100,699,000
Beginning Balance at Mar. 31, 2019	2,756,090		1,048,623	(321,905)			2,040,496
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(34,111)
Other comprehensive loss	(31,182)					(10,019)	(21,163)
Dividends declared:	16,574						16,574
Employee stock compensation and other, number of shares		85,000
Employee stock compensation and other	908		908
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Issuance of Equity by Subsidiary to Noncontrolling Interests	2,506			228
Changes to non-controlling interest from equity contributions and other							(2,734)
Ending Balance (in shares) at Jun. 30, 2019		100,784,000
Ending Balance at Jun. 30, 2019	2,672,625		1,049,531	(361,162)			2,005,399
Accumulated other comprehensive loss (note 15)					(21,143)
Accumulated other comprehensive loss (note 15)	$ (23,737)				(23,737)
Common Stock, Dividends, Per Share, Declared	$ 0
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted				(49,805)
Net Income (Loss) Attributable to Noncontrolling Interest							101,807
Beginning Balance (in shares) at Dec. 31, 2019	100,784,422	100,784,000
Beginning Balance at Dec. 31, 2019	$ 2,571,593		1,052,284	(546,684)			2,089,730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	52,002
Other comprehensive loss	(53,911)					(17,624)	(36,287)
Dividends declared:	16,353						16,353
Employee stock compensation and other, number of shares		324,000
Employee stock compensation and other	1,238		1,238
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(53,300)			(17,216)			(36,084)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Issuance of Equity by Subsidiary to Noncontrolling Interests	14,605			2,912		(321)
Changes to non-controlling interest from equity contributions and other							(17,196)
Ending Balance (in shares) at Mar. 31, 2020		101,108,000
Ending Balance at Mar. 31, 2020	2,486,664		1,053,522	(610,793)			2,085,617
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted	(28,082)
Net Income (Loss) Attributable to Noncontrolling Interest	$ 205,584
Beginning Balance (in shares) at Dec. 31, 2019	100,784,422	100,784,000
Beginning Balance at Dec. 31, 2019	$ 2,571,593		1,052,284	(546,684)			2,089,730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	177,502
Other comprehensive loss	$ (62,103)
Ending Balance (in shares) at Jun. 30, 2020	100,784,683	101,107,000
Ending Balance at Jun. 30, 2020	$ 2,587,241		1,054,890	(472,252)			2,058,273
Accumulated other comprehensive loss (note 15)					(41,682)
Common Stock, Dividends, Per Share, Declared	$ 0
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted	$ 21,723			21,723
Net Income (Loss) Attributable to Noncontrolling Interest	103,777						103,777
Beginning Balance (in shares) at Mar. 31, 2020		101,108,000
Beginning Balance at Mar. 31, 2020	2,486,664		1,053,522	(610,793)			2,085,617
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	125,500
Other comprehensive loss	(8,192)					(2,958)	(5,234)
Dividends declared:	19,166						19,166
Employee stock compensation and other, number of shares		(1,000)
Employee stock compensation and other	1,368		1,368
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Issuance of Equity by Subsidiary to Noncontrolling Interests	$ 1,067			116,818		$ (9,030)
Changes to non-controlling interest from equity contributions and other							(106,721)
Ending Balance (in shares) at Jun. 30, 2020	100,784,683	101,107,000
Ending Balance at Jun. 30, 2020	$ 2,587,241		$ 1,054,890	$ (472,252)			$ 2,058,273
Accumulated other comprehensive loss (note 15)	$ (53,670)				$ (53,670)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim consolidated financial statements have been prepared in accordance 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, its wholly-owned or controlled subsidiaries and any variable interest entities (or VIEs ) of which Teekay is the primary beneficiary (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 publicly-traded subsidiaries Teekay LNG Partners L.P. (or Teekay LNG ) and Teekay Tankers Ltd. (or Teekay Tankers ). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted from these unaudited interim consolidated financial statements and, therefore, these financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2019 , included in the Company’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (or SEC ) on April 8, 2020. In the opinion of management, these unaudited interim consolidated financial statements reflect all adjustments, consisting 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 six months ended June 30, 2020 , are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited financial statements and accompanying notes. Actual results could differ from those estimates. It is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (or COVID-19) as a pandemic. Given the dynamic nature of these circumstances, the full extent to which the COVID-19 pandemic may have direct or indirect impact on the Company's business and the related financial reporting implications cannot be reasonably estimated at this time, although the pandemic could materially affect the Company's business, results of operations and financial condition in the future. Spot tanker rates have come under pressure since mid-May 2020 as a result of record OPEC+ oil production cuts and lower production from other oil producing countries which reduced crude exports, and the unwinding of floating storage. COVID-19 was also a contributing factor to the write-down of six of Teekay LNG's multi-gas vessels and one floating production storage and offloading (or FPSO ) unit during the six months ended June 30, 2020 as described in Note 7 - Write-down and Gain (Loss) on Sale , as well as being a contributing factor to the reduction in certain tax accruals as described in Note 17 - Income Tax Recovery (Expense) . Voyage expenses incurred that are recoverable from the Teekay Tankers' customers in connection with its voyage charter contracts are reflected in voyage charter revenues and voyage expenses. The Company recast prior periods to reflect this presentation. This had the impact of increasing both voyage charter revenues and voyage expenses by $4.7 million and $10.4 million for the three and six months ended June 30, 2019, respectively.

Accounting Pronouncements

Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements, Policy	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (or FASB ) issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (or ASU 2016-13 ). ASU 2016-13 introduced a new credit loss methodology, which requires earlier recognition of potential credit losses, while also providing additional transparency about credit risk. This new credit loss methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity debt securities and other receivables at the time the financial asset is originated or acquired. The expected credit losses are subsequently adjusted each period for changes in expected lifetime credit losses. This methodology replaced multiple impairment methods under previous GAAP for these type of assets, which generally required that a loss be incurred before it was recognized. The Company adopted this update on January 1, 2020 with a modified-retrospective approach, whereby a cumulative-effect adjustment was made to increase accumulated deficit on January 1, 2020 without any retroactive application to prior periods. The Company's net investment in direct financing and sales-type leases, loans to equity-accounted investments, guarantees of indebtedness of equity-accounted investments and receivables related to non-operating lease revenue arrangements are subject to ASU 2016-13. On adoption, the Company decreased the carrying value of investment in and loans to equity-accounted investments by $40.0 million , non-controlling interest by $36.1 million and net investment in direct financing and sales-type leases by $11.2 million and increased accumulated deficit by $17.2 million and its other long-term liabilities by $2.1 million . The cumulative adjustment recorded on initial adoption of this update does not reflect an increase in credit risk exposure to the Company compared to previous periods presented. In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (or ASU 2019-12) , as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences, among other changes. The guidance becomes effective for annual reporting periods beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted, including adoption in any interim period. The Company is currently evaluating the effect of adopting this new guidance. In March 2020, the FASB issued ASU 2020-04 - Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting (or ASU 2020-04 ). This ASU provides optional guidance for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate (or LIBOR ). This ASU applies only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. This ASU is effective through December 31, 2022. The Company is currently evaluating the effect of adopting this new guidance.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The Company’s primary source of revenue is chartering its vessels and offshore units to its customers. The Company utilizes four primary forms of contracts, consisting of time-charter contracts, voyage charter contracts, bareboat charter contracts and contracts for FPSO units. The Company also generates revenue from the management and operation of vessels owned by third parties and by equity-accounted investments as well as by providing corporate management services to such third-party entities. For a description of these contracts, see "Item 18 – Financial Statements: Note 2" in the Company’s Annual Report on Form 20-F for the year ended December 31, 2019 . Revenue Table The following tables contain the Company’s revenue for the three and six months ended June 30, 2020 and 2019 , by contract type, by segment and by business lines within segments. Three Months Ended June 30, 2020 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 135,761 — 34,986 — 4,096 — 174,843 Voyage charters 10,383 — 207,926 — — — 218,309 FPSO contracts — — — 28,787 — — 28,787 Management fees and other 2,061 — 3,580 — 55,225 — 60,866 148,205 — 246,492 28,787 59,321 — 482,805 Three Months Ended June 30, 2019 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 133,684 2,369 1,496 — 8,078 (2,487 ) 143,140 Voyage charters 8,858 — 191,495 — — — 200,353 Bareboat charters 6,129 — — — — — 6,129 FPSO contracts — — — 57,828 — — 57,828 Management fees and other 2,020 — 14,016 — 39,911 (1,000 ) 54,947 150,691 2,369 207,007 57,828 47,989 (3,487 ) 462,397 Six Months Ended June 30, 2020 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 266,306 — 50,553 — 9,053 — 325,912 Voyage charters 17,700 — 525,404 — — — 543,104 FPSO contracts — — — 74,720 — — 74,720 Management fees and other 4,086 — 12,435 — 96,602 — 113,123 288,092 — 588,392 74,720 105,655 — 1,056,859 Six Months Ended June 30, 2019 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 264,459 5,131 4,906 — 14,347 (2,487 ) 286,356 Voyage charters 18,018 — 413,572 — — — 431,590 Bareboat charters 12,191 — — — — — 12,191 FPSO contracts — — 107,266 — — 107,266 Management fees and other 3,005 — 26,690 — 84,301 (2,129 ) 111,867 297,673 5,131 445,168 107,266 98,648 (4,616 ) 949,270 The following table contains the Company's total revenue for the three and six months ended June 30, 2020 and 2019 , by those contracts or components of contracts accounted for as leases and by those contracts or components not accounted for as leases. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Lease revenue Lease revenue from lease payments of operating leases 390,407 359,140 876,590 747,933 Interest income on lease receivables 12,877 12,969 25,543 25,763 Variable lease payments – cost reimbursements (1) 13,658 13,307 26,848 25,316 Variable lease payments – other (2) — 16,320 5,218 27,152 416,942 401,736 934,199 826,164 Non-lease revenue Non-lease revenue – related to sales-type or direct financing leases 4,997 5,714 9,537 11,239 Management fees and other income 60,866 54,947 113,123 111,867 65,863 60,661 122,660 123,106 Total 482,805 462,397 1,056,859 949,270 (1) Reimbursement for vessel operating expenditures and dry-docking expenditures received from the Company's customers relating to such costs incurred by the Company to operate the vessel for the customer. (2) Compensation from time-charter contracts based on spot market rates in excess of a base daily hire amount, production tariffs based on the volume of oil produced, the price of oil and other monthly or annual operational performance measures. Operating Leases As at June 30, 2020 , the minimum scheduled future rentals to be received by the Company in each of the next five years for the lease and non-lease elements related to time charters, bareboat charters and FPSO contracts that were accounted for as operating leases were approximately $372.6 million (remainder of 2020 ), $587.1 million ( 2021 ), $447.5 million ( 2022 ), $335.0 million ( 2023 ) and $259.3 million ( 2024 ). Minimum scheduled future revenues should not be construed to reflect total charter hire revenues for any of the years. Minimum scheduled future revenues do not include revenue generated from new contracts entered into after June 30, 2020 , revenue from unexercised option periods of contracts that existed on June 30, 2020 , revenue from vessels in the Company’s equity-accounted investments or variable or contingent revenues accounted for under ASC 842 Leases . In addition, minimum scheduled future operating lease revenues presented in this paragraph have been reduced by estimated off-hire time for any periodic maintenance and do not reflect the impact of revenue sharing arrangements whereby time-charter revenues are shared with other revenue sharing arrangement participants. The amounts may vary given unscheduled future events such as vessel maintenance. The net carrying amount of the vessels employed on time-charter contracts, bareboat charter contracts and FPSO contracts that have been accounted for as operating leases at June 30, 2020 was $3.1 billion . At June 30, 2020 , the cost and accumulated depreciation of such vessels were $4.0 billion and $0.9 billion , respectively. Net Investment in Direct Financing Leases and Sales-Type Leases On March 27, 2020, the Company entered into a bareboat charter with Britoil Limited (or BP ), a subsidiary of BP p.l.c., for the Petrojarl Foinaven FPSO for a period up to December 2030. BP may cancel the charter on six-months notice. Under the terms of this charter, Teekay received a cash payment of approximately $67 million in April 2020 and will receive a nominal per day rate over the life of the contract and a lump sum payment at the end of the contract period, which is expected to cover the costs of recycling the FPSO unit in accordance with EU ship recycling regulations. The charter was classified and accounted for as a sales-type lease. Consequently, the Company recognized a net investment in sales-type lease of $81.9 million and an asset retirement obligation of $6.1 million , derecognized the carrying value of the Petrojarl Foinaven FPSO and related customer contract, and recognized a gain of $44.9 million in the three months ended March 31, 2020. As at June 30, 2020 , Teekay LNG had three liquefied natural gas (or LNG ) carriers, excluding vessels in its equity-accounted joint ventures, which are accounted for as direct financing leases. For a description of Teekay LNG's LNG carriers accounted for as direct financing leases, see "Item 18 – Financial Statements: Note 2" to the Company's Annual Report on Form 20-F for the year ended December 31, 2019. As at December 31, 2019, Teekay LNG had two additional LNG carriers, the WilForce and the WilPride , that were chartered to Awilco LNG ASA (or Awilco ) and were accounted for as sales-type leases. In January 2020, Awilco purchased both carriers from Teekay LNG and paid Teekay LNG the associated purchase obligation, deferred hire amounts and interest on deferred hire amounts, totaling over $260 million relating to these two vessels. As at June 30, 2020 , estimated minimum lease payments to be received related to direct financing and sales-type leases in each of the next five years were approximately $32.6 million (remainder of 2020 ), $64.6 million ( 2021 ), $64.6 million ( 2022 ), $64.4 million ( 2023 ), $64.7 million ( 2024 ) and an aggregate of $522.3 million thereafter. The leases are scheduled to end between 2025 and 2039. Contract Liabilities The Company enters into certain customer contracts that result in situations where the customer will pay consideration upfront for performance to be provided in the following month or months. These receipts are contract liabilities and are presented as deferred revenue until performance is provided. As at June 30, 2020 , December 31, 2019 , June 30, 2019 and January 1, 2019, there were contract liabilities of $34.1 million , $32.4 million , $27.2 million and $26.4 million , respectively. During the three and six months ended June 30, 2020 , the Company recognized revenues of $28.1 million and $32.4 million , respectively ( three and six months ended June 30, 2019 – $20.4 million and $26.4 million , respectively), included in contract liability at the beginning of such periods.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Deconsolidation of Teekay Offshore	Related Party Transactions The Company provides ship management and corporate services to certain of its equity-accounted joint ventures that own and operate LNG carriers on long-term charters. In addition, the Company is reimbursed for costs incurred by the Company for its seafarers operating these LNG carriers. During the three and six months ended June 30, 2020 , the Company earned $19.9 million and $37.4 million , respectively ( three and six months ended June 30, 2019 – $16.8 million and $32.6 million , respectively), of fees pursuant to these management agreements and reimbursement of costs. In September 2018, Teekay LNG entered into an agreement with its 52% -owned joint venture with Marubeni Corporation (or the MALT Joint Venture ) to charter in one of the MALT Joint Venture's LNG carriers, the Magellan Spirit , for a period of two years at a fixed-rate. Time-charter hire expenses for the three and six months ended June 30, 2020 were $5.4 million and $11.3 million , respectively ( three and six months ended June 30, 2019 – $3.1 million and $8.7 million , respectively). On May 11, 2020, Teekay and Teekay LNG agreed to eliminate all of the Teekay LNG's incentive distribution rights, which were held by Teekay GP LLC, in exchange for 10.75 million newly-issued common units of Teekay LNG. As a result of the share issuance of Teekay LNG, the Company recorded a decrease to accumulated deficit of $116.6 million and an increase to accumulated other comprehensive loss of $9.0 million with a corresponding decrease in non-controlling interests of $107.6 million . The $116.6 million represents Teekay’s dilution gain from the issuance of new common units by Teekay LNG and is credited directly to equity, and the $9.0 million represents the change in Teekay's interest in Teekay LNG's accumulated other comprehensive loss. On May 8, 2019, Teekay sold to Brookfield Business Partners L.P. (or Brookfield ) all of the Company’s remaining interests in Altera Infrastructure L.P. (or Altera ) (previously known as Teekay Offshore Partners L.P (or Teekay Offshore )), which included the Company’s 49% general partner interest, common units, warrants, and an outstanding $25 million loan from the Company to Altera (described below), for total cash proceeds of $100 million (or the 2019 Brookfield Transaction ). Subsequent to the 2019 Brookfield Transaction, Altera is no longer a related party of Teekay. Subsequent to the deconsolidation of Altera in September 2017 and prior to the 2019 Brookfield Transaction, the Company accounted for its investment in Altera's general partner and common units under the equity method of accounting. Based on the 2019 Brookfield Transaction, the Company remeasured its investment in Altera to fair value at March 31, 2019 based on the Altera publicly-traded unit price at that date, resulting in a write-down of $64.9 million reflected in equity loss on the Company's unaudited consolidated statements of income (loss) for the six months ended June 30, 2019. The Company recognized a loss on sale of $8.9 million upon completion of the 2019 Brookfield Transaction in May 2019. In March 2018, Altera entered into a loan agreement for a $125.0 million senior unsecured revolving credit facility, of which up to $25.0 million was provided by Teekay and up to $100.0 million was provided by Brookfield. Teekay’s $25.0 million loan to Altera was among the assets sold by Teekay to Brookfield in the 2019 Brookfield Transaction. On September 25, 2017, Teekay, Altera and Brookfield completed a strategic partnership (or the 2017 Brookfield Transaction ), which resulted in the deconsolidation of Altera as of that date. Until December 31, 2017, Teekay and its wholly-owned subsidiaries directly and indirectly provided substantially all of Altera’s ship management, commercial, technical, strategic, business development and administrative service needs. On January 1, 2018, as part of the 2017 Brookfield Transaction, Altera acquired a 100% ownership interest in seven subsidiaries (or the Transferred Subsidiaries ) of Teekay at carrying value. Subsequent to their transfer to Altera, the Transferred Subsidiaries continue to provide ship management, commercial, technical, strategic, and administrative services to Teekay, primarily related to Teekay's FPSO units. Teekay and certain of its subsidiaries, other than the Transferred Subsidiaries, continue to provide certain other ship management, commercial, technical, strategic and administrative services to Altera. Revenues recognized by the Company for services provided to Altera for the periods from April 1, 2019 to May 8, 2019 and January 1, 2019 to May 8, 2019 were $2.3 million and $7.6 million , respectively, which were recorded in revenues on the Company's unaudited consolidated statements of income (loss) . Fees paid by the Company to Altera for services provided by Altera to the Company for the periods from April 1, 2019 to May 8, 2019 and January 1, 2019 to May 8, 2019 were $3.3 million and $9.6 million , respectively, which were recorded in vessel operating expenses and general and administrative expenses on the Company's unaudited consolidated statements of income (loss) . As at June 30, 2019, two shuttle tankers and two FSO units of Altera were employed on long-term time-charter out or bareboat contracts to subsidiaries of Teekay. Time-charter hire expenses paid by the Company to Altera for the periods from April 1, 2019 to May 8, 2019 and January 1, 2019 to May 8, 2019 were $6.1 million and $20.8 million , respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company’s segments are described in "Item 18 – Financial Statements: Note 3" to the Company’s Annual Report on Form 20-F for the year ended December 31, 2019 . 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 Entities ), Teekay and its remaining subsidiaries (or Teekay Parent ), and, prior to the completion of the 2019 Brookfield Transaction, its equity-accounted investment in Altera, 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 Entities, Teekay Parent and, prior to the completion of the 2019 Brookfield Transaction, its equity-accounted investment in Altera, and its segments are presented accordingly on this basis. The Company (which excludes Altera) has three primary lines of business: (1) offshore production (FPSO units), (2) 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 Entity and the Company believes this information allows a better understanding of the Company’s performance and prospects for future net cash flows. The following table includes the Company’s revenues by segment for the three and six months ended June 30, 2020 and 2019 : Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Teekay LNG Liquefied Gas Carriers 148,205 150,691 288,092 297,673 Conventional Tankers — 2,369 — 5,131 148,205 153,060 288,092 302,804 Teekay Tankers Conventional Tankers (1) 246,492 207,007 588,392 445,168 Teekay Parent Offshore Production 28,787 57,828 74,720 107,266 Other 59,321 47,989 105,655 98,648 88,108 105,817 180,375 205,914 Eliminations and other (1) — (3,487 ) — (4,616 ) 482,805 462,397 1,056,859 949,270 (1) During 2019, Teekay Tankers' ship-to-ship transfer business provided operational and maintenance services to Teekay LNG Bahrain Operations L.L.C., an entity wholly-owned by Teekay LNG, for the LNG receiving and regasification terminal in Bahrain. Also during 2019, the Magellan Spirit was chartered by Teekay LNG to Teekay Parent. The following table includes the Company’s income (loss) from vessel operations by segment for the three and six months ended June 30, 2020 and 2019 : Income (Loss) from Vessel Operations (1) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Teekay LNG Liquefied Gas Carriers 69,589 74,244 91,327 144,687 Conventional Tankers — 433 — (649 ) 69,589 74,677 91,327 144,038 Teekay Tankers Conventional Tankers 92,986 5,051 213,112 37,148 Teekay Parent Offshore Production (11,540 ) (5,987 ) (23,808 ) (18,544 ) Other (2,531 ) (2,278 ) (3,231 ) (6,947 ) (14,071 ) (8,265 ) (27,039 ) (25,491 ) 148,504 71,463 277,400 155,695 (1) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources). Prior to its sale in May 2019, the Company accounted for its investment in Altera's general partner and common units using the equity method and recognized equity losses in respect of Altera for the periods from April 1, 2019 to May 8, 2019 and January 1, 2019 to May 8, 2019 of $ nil and $3.1 million , respectively. The Company wrote-down the investment in Altera by $64.9 million in the six months ended June 30, 2019 and recognized a loss on sale of $8.9 million in the three and six months ended June 30, 2019. A reconciliation of total segment assets to total assets presented in the accompanying unaudited consolidated balance sheets is as follows: June 30, 2020 December 31, 2019 $ $ Teekay LNG – Liquefied Gas Carriers 4,762,748 5,249,465 Teekay Tankers – Conventional Tankers 1,904,059 2,140,652 Teekay Parent – Offshore Production 48,867 161,096 Teekay Parent – Other 52,848 80,455 Cash and cash equivalents 461,152 353,241 Other assets not allocated 126,197 102,701 Eliminations (10,359 ) (14,746 ) Consolidated total assets 7,345,512 8,072,864

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability, Maturity [Table Text Block]	As at June 30, 2020 , the total remaining commitments related to the financial liabilities of Teekay Tankers' Suezmax tankers, Aframax tankers and LR2 product tankers, including the amounts to be paid for the related purchase obligations, approximated $573.9 million , including imputed interest of $171.4 million , repayable from 2020 through 2030, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 28,449 2021 56,222 2022 56,213 2023 56,204 2024 56,348 Thereafter 320,481 As at June 30, 2020 , the remaining commitments related to the financial liabilities of these nine LNG carriers, including the amounts to be paid for the related purchase obligations, approximated $1.8 billion , including imputed interest of $435.3 million , repayable through 2034, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 69,886 2021 138,601 2022 136,959 2023 135,459 2024 132,011 Thereafter 1,198,366
Leases [Text Block]	6 . Leases Obligations Related to Finance Leases June 30, 2020 December 31, 2019 $ $ Teekay LNG LNG Carriers 1,376,011 1,410,904 Teekay Tankers Conventional Tankers 402,519 414,788 Total obligations related to finance leases 1,778,530 1,825,692 Less current portion (97,237 ) (95,339 ) Long-term obligations related to finance leases 1,681,293 1,730,353 Teekay LNG As at June 30, 2020 , Teekay LNG was a party to finance leases on nine LNG carriers ( December 31, 2019 – nine LNG carriers). These nine LNG carriers were sold by Teekay LNG to third parties (or Lessors ) and leased back under 7.5 - to 15 -year bareboat charter contracts ending in 2026 through 2034. At the inception of these leases, the weighted-average interest rate implicit in these leases was 5.1% . The bareboat charter contracts are presented as obligations related to finance leases on the Company's unaudited consolidated balance sheets and have purchase obligations at the end of the lease terms. The obligations of Teekay LNG under the bareboat charter contracts for the nine LNG carriers are guaranteed by Teekay LNG. 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. These covenants are the same as Teekay LNG's other corporate debt covenants (see Note 10 ). As of the date these unaudited consolidated financial statements were issued, Teekay LNG was in compliance with all covenants in respect of the obligations related to its finance leases. As at June 30, 2020 , the remaining commitments related to the financial liabilities of these nine LNG carriers, including the amounts to be paid for the related purchase obligations, approximated $1.8 billion , including imputed interest of $435.3 million , repayable through 2034, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 69,886 2021 138,601 2022 136,959 2023 135,459 2024 132,011 Thereafter 1,198,366 Teekay Tankers From 2017 to 2019, Teekay Tankers completed sale-leaseback financing transactions with financial institutions relating to 16 of Teekay Tankers' vessels. Under these arrangements, Teekay Tankers transferred the vessels to subsidiaries of the financial institutions (collectively, the Lessors ), and leased the vessels back from the Lessors on bareboat charters ranging from 9 - to 12 -year terms. Teekay Tankers is obligated to purchase eight of the vessels upon maturity of their respective bareboat charters. Teekay Tankers also has the option to purchase each of the 16 vessels at various times starting between July 2020 and November 2021 until the end of their respective lease terms. The bareboat charters related to these vessels require that Teekay Tankers maintain minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million and at least 5.0% of Teekay Tankers' consolidated debt and obligations related to finance leases (excluding applicable security deposits reflected in restricted cash – non-current on the Company's unaudited consolidated balance sheets). Four of the bareboat charters require Teekay Tankers to maintain, for each vessel, a minimum hull coverage ratio of 90% of the total outstanding principal balance during the first three years of the lease period and 100% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 129% ( December 31, 2019 – 122% ). Six of the bareboat charters require Teekay Tankers to maintain, for each vessel, a minimum hull coverage ratio of 78% of the total outstanding principal balance during the first two years of the lease period, 80% for the following two years and 90% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 110% ( December 31, 2019 – 115% ). Four of the bareboat charters require Teekay Tankers to maintain, for each vessel, a minimum hull overage ratio of 100% of the total outstanding principal balance. As at June 30, 2020 , this ratio was approximately 163% ( December 31, 2019 – 158% ). The remaining two bareboat charters also require Teekay Tankers to maintain, for each vessel, a minimum hull coverage ratio of 75% of the total outstanding principal balance during the first year of the lease period, 78% for the second year, 80% for the following two years and 90% of the total outstanding principal balance thereafter. As at June 30, 2020 , this ratio was approximately 102% ( December 31, 2019 – 109% ). Such requirements are assessed annually with reference to vessel valuations compiled by one or more agreed upon third parties. As of the date these unaudited consolidated financial statements were issued, Teekay Tankers was in compliance with all covenants in respect of its obligations related to finance leases. The weighted average interest rate on Teekay Tankers’ obligations related to finance leases as at June 30, 2020 was 7.6% ( December 31, 2019 – 7.6% ). As at June 30, 2020 , the total remaining commitments related to the financial liabilities of Teekay Tankers' Suezmax tankers, Aframax tankers and LR2 product tankers, including the amounts to be paid for the related purchase obligations, approximated $573.9 million , including imputed interest of $171.4 million , repayable from 2020 through 2030, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 28,449 2021 56,222 2022 56,213 2023 56,204 2024 56,348 Thereafter 320,481 Operating Lease Liabilities The Company charters-in vessels from other vessel owners on time-charter-in and bareboat charter contracts, whereby the vessel owner provides use of the vessel to the Company, and, in the case of time-charter-in contracts, also operates the vessel for the Company. A time-charter-in contract is typically for a fixed period of time, although in certain cases the Company may have the option to extend the charter. The Company typically pays the owner a daily hire rate that is fixed over the duration of the charter. The Company is generally not required to pay the daily hire rate for time charters during periods the vessel is not able to operate. On March 27, 2020, concurrently with the Petrojarl Foinaven FPSO transaction with BP described in Note 3, the Company sold its subsidiary Golar-Nor (UK) Limited (or Golar-Nor ) to Altera for a nominal amount plus outstanding working capital. Golar-Nor was in-chartering the Petroatlantic and Petronordic shuttle tankers. This transaction resulted in the Company derecognizing right-of-use assets and lease liabilities totaling $50.7 million and $50.7 million , respectively. As at June 30, 2020 , minimum commitments to be incurred by the Company under time-charter-in and bareboat charter contracts were approximately $34.9 million (remainder of 2020), $39.4 million (2021), $20.3 million (2022), $9.2 million (2023) and $5.7 million (2024).

Write-down and Loss on Sales of

Write-down and Loss on Sales of Vessels	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Write-down and Loss on Sales of Vessels	Write-down and Gain (Loss) on Sale The Company's write-downs and vessel sales generally relate to vessels approaching the end of their useful lives as well as other vessels it strategically sells, or is attempting to sell, to reduce exposure to a certain vessel class. The following table contains the write-downs, gains and losses on sales of vessels for the three and six months ended June 30, 2020 and 2019 : Three Months Ended June 30, Segment Asset Type Completion of Sale Date 2020 2019 Teekay Parent Segment – Offshore Production (1) 1 FPSO unit N/A (13,566 ) — Teekay Tankers Segment – Conventional Tankers (2) (2) Apr-2020 3,081 — Teekay Tankers Segment – Conventional Tankers (3) 1 Suezmax N/A 460 — Teekay Tankers Segment – Conventional Tankers Operating lease right-of-use N/A (644 ) — Total (10,669 ) — Six Months Ended June 30, Segment Asset Type Completion of Sale Date 2020 2019 Teekay Parent Segment – Offshore Production (1) 2 FPSO units N/A (60,085 ) — Teekay Parent Segment – Offshore Production (4) 1 FPSO unit N/A — (3,328 ) Teekay LNG Segment – Liquefied Gas Carriers (5) 6 Multi-gas Carriers N/A (45,000 ) — Teekay Tankers Segment – Conventional Tankers (2) (2) Apr-2020 3,081 — Teekay Tankers Segment – Conventional Tankers (3) 1 Suezmax N/A — — Teekay Tankers Segment – Conventional Tankers 3 Suezmaxes Feb/Mar-2020 (2,627 ) — Teekay Tankers Segment – Conventional Tankers Operating lease right-of-use N/A (644 ) — Total (105,275 ) (3,328 ) (1) During the first half of 2020, Teekay Parent recognized impairment charges of $60.1 million in respect of two of its FPSO units. In the first quarter of 2020, CNR International (U.K.) Limited (or CNR ) provided formal notice to Teekay of its intention to cease production in June 2020 and decommission the Banff field shortly thereafter. As such, the Company expects to remove the Petrojarl Banff FPSO and Apollo Spirit FSO from the Banff field in 2020 and the subsea equipment in 2021. The Company expects to scrap the FPSO unit and sub-sea equipment and redeliver the FSO unit to its owner following removal from the field. Accordingly, the asset retirement obligation for the Petrojarl Banff FPSO unit was increased based on recent changes to cost estimates and the carrying value of the unit was fully written down. During the first quarter of 2020, the Company also made changes to its expected cash flows from the Sevan Hummingbird FPSO unit based on the market environment and oil prices at that time, and recent discussions with a potential buyer about the possible sale of the unit. This led to the write-down of the unit to its estimated fair value, using a discounted cash flow approach. See Note 13. (2) On April 30, 2020, Teekay Tankers completed the sale of the non-US portion of its ship-to-ship support services business as well as its LNG terminal management business for proceeds of $27.1 million , including an adjustment of $1.1 million for the final amounts of cash and other working capital present on the closing date. $14.3 million of the total proceeds were received on closing and the remaining $12.7 million was received in July 2020. (3) As at March 31, 2020, Teekay Tankers classified one Suezmax tanker as held for sale. The vessel cost, net of the estimated closing cost, was written down by $0.5 million to its estimated sales price. As at June 30, 2020, this vessel no longer met the requirements to be classified as held for sale and the asset was reinstated as held for use. The previous write-down of $0.5 million was reversed when the asset was reinstated as held for use. (4) On March 27, 2020, the Company entered into a bareboat charter agreement for Petrojarl Foinaven FPSO unit which was accounted for as a sales-type lease. See Note 3. (5) In March 2020, the carrying values for six of Teekay LNG's seven

Accrued Liabilities and Other a

Accrued Liabilities and Other and Other Long-Term Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8 . Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilities and Other June 30, 2020 December 31, 2019 $ $ Accrued liabilities Voyage and vessel expenses 109,925 121,937 Interest 25,079 29,371 Payroll and related liabilities 39,298 33,494 Distributions payable and other 6,425 6,487 Deferred revenues – current 39,749 36,242 In-process revenue contracts – current — 5,933 Current portion of derivative liabilities ( note 16 ) 36,375 39,263 Office lease liability – current 2,654 3,627 Loans from equity-accounted investments 25,442 18,647 Asset retirement obligation – current 19,000 — 303,947 295,001 Other Long-Term Liabilities June 30, 2020 December 31, 2019 $ $ Deferred revenues and gains 26,222 28,612 Guarantee liabilities 12,053 10,113 Asset retirement obligation 39,565 31,068 Pension liabilities 7,512 7,238 In-process revenue contracts — 11,866 Derivative liabilities ( note 16 ) 89,778 51,914 Unrecognized tax benefits ( note 17 ) 41,188 62,958 Office lease liability – long-term 10,016 10,254 Other 3,081 2,325 229,415 216,348 Asset Retirement Obligations In the first quarter of 2020, CNR provided formal notice to Teekay of its intention to cease production in June 2020 and decommission the Banff field shortly thereafter. As such, the Company expects to remove the Petrojarl Banff FPSO and Apollo Spirit FSO from the Banff field in 2020 and the subsea equipment in 2021. The Company expects to recycle the FPSO unit and sub-sea equipment and redeliver the FSO unit to its owner following removal from the field. Accordingly, the asset retirement obligation for the Petrojarl Banff FPSO unit was increased based on recent changes to cost estimates and the carrying value of the unit was fully written down. As of June 30, 2020, the present value of the Petrojarl Banff FPSO unit's estimated asset retirement obligations relating to the remediation of the subsea infrastructure was $52.1 million , of which $19.0 million is recorded in accrued liabilities and $33.1 million recorded in other long-term liabilities. The Company has also recorded $8.1 million in other non-current assets as at June 30, 2020 for the expected recovery of a portion of these costs from the customer upon the completion of the remediation work. In March 2020, Teekay Parent entered into a new bareboat charter contract with the existing charterer of the Petrojarl Foinaven FPSO unit, which can be extended up to December 2030. Under the terms of the new contract, Teekay received a cash payment of $67 million in April 2020 and will receive a nominal per day rate over the life of the contract and a lump sum payment at the end of the contract period, which is expected to cover the costs of recycling the FPSO unit in accordance with the EU ship recycling regulations. As of June 30, 2020, the carrying value of the related lease asset was $15.2 million . As of June 30, 2020, the present value of the Petrojarl Foinaven FPSO unit's estimated asset retirement obligation relating to recycling costs was $6.3 million .

Short-Term Debt

Short-Term Debt	6 Months Ended
	Jun. 30, 2020
Short-term Debt [Line Items]
Short-term Debt [Text Block]	9 . Short-Term Debt In November 2018, Teekay Tankers Chartering Pte. Ltd. (or TTCL ) a wholly-owned subsidiary of Teekay Tankers, entered into a working capital revolving loan facility (or the Working Capital Loan ), which initially provided available aggregate borrowings of up to $40.0 million for TTCL, and had an initial maturity date in May 2019, subject to extension as described below. The aggregate borrowings were subsequently increased to $80.0 million , effective December 2019. The next maturity date of the Working Capital Loan is in November 2020. The Working Capital Loan maturity date is continually extended for further periods of six months thereafter unless and until the lender gives notice in writing that no further extensions shall occur. Proceeds of the Working Capital Loan are used to provide working capital in relation to certain vessels subject to revenue sharing agreements (or RSAs ). Interest payments are based on LIBOR plus a margin of 3.5% . The Working Capital Loan is collateralized by the assets of TTCL. The Working Capital Loan requires Teekay Tankers to maintain its paid-in capital contribution under the RSAs and the retained distributions of the RSA counterparties in an amount equal to the greater of (a) an amount equal to the minimum average capital contributed by the RSA counterparties per vessel in respect of the RSA (including cash, bunkers or other working capital contributions and amounts accrued to the RSA counterparties but unpaid) and (b) a minimum capital contribution ranging from $20.0 million to $30.0 million based on the amount borrowed. As at June 30, 2020 , $10.0 million ( December 31, 2019 – $50.0 million ) was owing under this facility, and the average interest rate on the facility was 3.7% ( December 31, 2019 – 5.0% ). As of the date these unaudited consolidated financial statements were issued, Teekay Tankers was in compliance with all covenants in respect of this facility.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Long-Term Debt June 30, 2020 December 31, 2019 $ $ Revolving Credit Facilities 521,594 603,132 Senior Notes (8.5%) due January 15, 2020 — 36,712 Senior Notes (9.25%) due November 15, 2022 250,000 250,000 Convertible Senior Notes (5%) due January 15, 2023 125,000 125,000 Norwegian Krone-denominated Bonds due through August 2023 212,985 347,163 U.S. Dollar-denominated Term Loans due through 2030 1,002,761 1,336,437 Euro-denominated Term Loans due through 2024 153,200 165,376 Other U.S. Dollar-denominated loan 446 3,300 Total principal 2,265,986 2,867,120 Less unamortized discount and debt issuance costs (40,499 ) (39,968 ) Total debt 2,225,487 2,827,152 Less current portion (322,831 ) (523,312 ) Long-term portion 1,902,656 2,303,840 As of June 30, 2020 , the Company had four revolving credit facilities (collectively, the Revolvers ) available . The Revolvers, as at such date, provided for aggregate borrowings of up to $950.8 million , of which $429.2 million was undrawn. Interest payments are based on LIBOR plus a margin. The margins ranged between 1.40% and 3.95% at June 30, 2020 and at December 31, 2019 . The aggregate amount available under the Revolvers is scheduled to decrease by $157.6 million (remainder of 2020 ), $115.8 million ( 2021 ), $410.8 million ( 2022 ), $65.3 million ( 2023 ) and $201.3 million ( 2024 ). The Revolvers are collateralized by first-priority mortgages granted on 33 of the Company’s vessels, together with other related security, and include a guarantee from Teekay or its subsidiaries for all but one of the Revolvers' outstanding amounts. Included in other related security are 25.2 million common units in Teekay LNG and 5.0 million Class A common shares in Teekay Tankers to secure a $150 million credit facility. The Company’s 8.5% senior unsecured notes were due January 15, 2020 with an original aggregate principal amount of $450 million (the Original Notes ). In November 2015, the Company issued an aggregate principal amount of $200 million of the Company’s 8.5% senior unsecured notes which were due on January 15, 2020 (or the Additional Notes ) at 99.0% of face value, plus accrued interest from July 15, 2015. Prior to 2020, the Company repurchased $613.3 million in aggregate principal amount and in January 2020, the Company repaid all remaining Original Notes and Additional Notes at maturity. In May 2019, the Company issued $250.0 million in aggregate principal amount of 9.25% senior secured notes at par due November 2022 (or the 2022 Notes ). The 2022 Notes are guaranteed on a senior secured basis by certain of our subsidiaries and are secured by first-priority liens on two of Teekay's FPSO units, a pledge of the equity interests in Teekay's subsidiary that owns all of Teekay's common units of Teekay LNG Partners L.P. and all of Teekay’s Class A common shares of Teekay Tankers Ltd. and a pledge of the equity interests in Teekay's subsidiaries that own Teekay Parent's three FPSO units. The Company may redeem the 2022 Notes in whole or in part at any time prior to November 15, 2020 at a redemption price equal to 100% of the principal amount of the 2022 Notes to be redeemed, plus the greater of (i) 1.0% of the principal amount of such 2022 Notes and (ii) the excess, if any, of the sum of the present values of the remaining scheduled payments of principal and interest on the 2022 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 over the principal amount of such 2022 Notes, plus accrued and unpaid interest to, but excluding, the redemption date. The Company may redeem the 2022 Notes in whole or in part at a redemption price equal to a percentage of the principal amount of the 2022 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the redemption date, as follows: 104.625% at any time on or after November 15, 2020, but prior to November 15, 2021; 102.313% at any time on or after November 15, 2021, but prior to August 15, 2022; and 100% at any time on or after August 15, 2022. On January 26, 2018, Teekay Parent completed a private offering of $125.0 million in aggregate principal amount of 5% Convertible Senior Notes due January 15, 2023 (the Convertible Notes ). The Convertible Notes are convertible into Teekay’s common stock, initially at a rate of 85.4701 shares of common stock per $1,000 principal amount of Convertible Notes. This represents an initial effective conversion price of $11.70 per share of common stock. The initial conversion price represents a premium of 20% to the concurrent common stock offering price of $9.75 per share. On issuance of the Convertible Notes, $104.6 million of the net proceeds was reflected in long-term debt, including unamortized discount, and is being accreted to $125.0 million over its five-year term through interest expense. The remaining amount of the net proceeds of $16.1 million was allocated to the conversion feature and reflected in additional paid-in capital. As at June 30, 2020 , Teekay LNG had a total of Norwegian Krone (or NOK ) 2.1 billion in senior unsecured bonds issued in the Norwegian bond market that mature through 2023 ( December 31, 2019 – NOK 3.1 billion ). As of June 30, 2020 , the total carrying amount of the senior unsecured bonds was $213.0 million ( December 31, 2019 – $347.2 million ). The bonds are listed on the Oslo Stock Exchange. The interest payments on the bonds are based on Norwegian Interbank Offered Rate (or NIBOR ) plus a margin, which ranges from 4.60% 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 7.72% to 7.89% , and the transfer of the principal amount fixed at $248.5 million upon maturity in exchange for NOK 2.1 billion (see Note 16 ). As of June 30, 2020 , the Company had six U.S. Dollar-denominated term loans outstanding, which totaled $1.0 billion in aggregate principal amount ( December 31, 2019 – $1.3 billion ). Interest payments on the term loans are based on LIBOR plus a margin , of which two of the term loans have additional tranches with a weighted average fixed rate of 4.47% . At June 30, 2020 and at December 31, 2019 , the margins ranged between 0.30% and 3.25% . Term loans require payments in quarterly or semi-annual installments commencing three or six months after delivery of each newbuilding vessel financed thereby, and five of the term loans have balloon or bullet repayments due at maturity. The term loans are collateralized by first-priority mortgages on 20 ( December 31, 2019 – 24 ) of the Company’s vessels, together with certain other security. Teekay LNG has two Euro-denominated term loans outstanding, which, as at June 30, 2020 , totaled 136.4 million Euros ( $153.2 million ) ( December 31, 2019 – 147.5 million Euros ( $165.4 million )). Teekay LNG is servicing the loans with funds generated by two Euro-denominated, long-term time-charter contracts. Interest payments on the loans are based on Euro Interbank Offered Rate (or EURIBOR ) plus a margin. At June 30, 2020 and December 31, 2019 , the margins ranged between 0.60% and 1.95% . The Euro-denominated term loans reduce in monthly and semi-annual payments with varying maturities through 2024, are collateralized by first-priority mortgages on two of Teekay LNG's vessels, together with certain other security, and are guaranteed by Teekay LNG and one of its subsidiaries. Both Euro-denominated term loans and NOK-denominated bonds are revalued at the end of each period using the then-prevailing U.S. Dollar exchange rate. Due primarily to the revaluation of the Company’s NOK-denominated bonds, the Company’s Euro-denominated term loans and restricted cash and the change in the valuation of the Company’s cross currency swaps, the Company recognized a foreign exchange loss of $8.9 million ( 2019 – loss of $5.9 million ) and a loss of $2.3 million (2019 – loss of $8.5 million ) during the three and six months ended June 30, 2020 and 2019 , respectively. The weighted-average interest rate on the Company’s aggregate long-term debt as at June 30, 2020 was 3.7% ( December 31, 2019 – 4.6% ). This rate does not include the effect of the Company’s interest rate swap agreements (see Note 16 ). The aggregate annual long-term debt principal repayments required to be made by the Company subsequent to June 30, 2020 , including the impact of Teekay Tankers' debt refinancing completed in August 2020, are $83.1 million (remainder of 2020 ), $416.4 million ( 2021 ), $634.4 million ( 2022 ), $402.9 million ( 2023 ), $303.4 million ( 2024 ) and $425.8 million (thereafter). 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 June 30, 2020 , these ratios were 379% , 218% , 138% and 192% compared to their minimum required ratios of 125% , 115% , 120% and 135% , respectively. The vessel values used in these ratios are the appraised values provided by third parties where available or 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. Teekay Tankers’ term loan, which was scheduled to mature in 2021, was guaranteed by Teekay. This term loan contained covenants that required Teekay Parent and Teekay Tankers collectively to maintain the greater of (a) free cash (cash and cash equivalents) of at least $100.0 million and (b) an aggregate of free cash and undrawn committed revolving credit lines with at least six months to maturity of at least 7.5% of Teekay's total consolidated debt and obligations related to finance leases (excluding Teekay LNG). As at June 30, 2020 , the outstanding balance on Teekay Tankers' credit facility was $86.7 million . In August 2020, Teekay Tankers refinanced the term loan facility and replaced the guarantee from Teekay Parent with a guarantee from five of Teekay Tankers' wholly-owned subsidiaries. The new term loan facility is scheduled to mature in 2023 (see Note 20 ). In addition, certain loan agreements require Teekay Tankers to maintain minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million and at least 5.0% of Teekay Tankers' total consolidated debt and obligations related to finance leases. Certain loan agreements require Teekay LNG to maintain a minimum level of tangible net worth, and minimum liquidity (cash, cash equivalents and undrawn committed revolving credit lines with at least six months to maturity) of $35.0 million , and not to exceed a maximum level of financial leverage. As of the date these unaudited consolidated financial statements were issued, the Company is in compliance with all covenants under its credit facilities and other long-term debt.

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Capital Stock	Capital Stock The authorized capital stock of Teekay at June 30, 2020 and December 31, 2019 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 June 30, 2020 , Teekay had no shares of preferred stock issued. In April 2019, Teekay filed a continuous offering program (or COP ) under which Teekay may issue shares of its common stock, at market prices up to a maximum aggregate amount of $63.0 million . As of June 30, 2020 , no

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies a) Vessels Under Construction and Upgrades Teekay LNG's share of commitments to fund equipment installation and other construction contract costs as at June 30, 2020 are as follows: Total Remainder of 2021 2022 Certain consolidated LNG carriers (i) 41,626 4,058 22,917 14,651 Bahrain LNG Joint Venture (ii) 11,351 11,351 — — 52,977 15,409 22,917 14,651 (i) In June 2019, Teekay LNG entered into an agreement with a contractor to supply equipment on certain of Teekay LNG's LNG carriers in 2021 and 2022, for an estimated installed cost of $58.1 million . As at June 30, 2020 , the estimated remaining cost of this installation is $41.6 million . (ii) Teekay LNG has a 30% ownership interest in the Bahrain LNG Joint Venture which has an LNG receiving and regasification terminal in Bahrain. As at June 30, 2020 , Teekay LNG's proportionate share of the estimated remaining cost of $11.4 million relates to the final construction installment on the LNG terminal. The Bahrain LNG Joint Venture has remaining debt financing of $24 million , which is undrawn, of which $7 million relates to Teekay LNG's proportionate share of the construction commitments included in the table above. b) Liquidity Management is required to assess whether 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 income of $177.5 million and consolidated cash flows from operating activities of $775.7 million during the six months ended June 30, 2020 and had a working capital deficit of $93.6 million as at June 30, 2020 . 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 the dividends it expects to receive from its equity-accounted joint ventures, 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. c) Legal Proceedings and Claims The Company may, from time to time, be involved in legal proceedings and claims that arise in the ordinary course of business. The Company believes that any adverse outcome of existing claims, 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. d) 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. Teekay LNG guarantees its proportionate share of certain loan facilities and obligations on interest rate swaps for its equity-accounted joint ventures for which the aggregate principal amount of the loan facilities and fair value of the interest rate swaps as at June 30, 2020 was $1.4 billion . As of the date these unaudited consolidated financial statements were issued, Teekay LNG's equity-accounted joint ventures were in compliance with all covenants relating to these loan facilities that Teekay LNG guarantees.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2020
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 "Item 18 – Financial Statements: Note 12" in the Company’s Annual Report on Form 20-F for the year ended December 31, 2019 . 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. June 30, 2020 December 31, 2019 Fair Value Hierarchy Level Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Recurring Cash, cash equivalents and restricted cash ( note 19 ) Level 1 539,417 539,417 454,867 454,867 Derivative instruments (note 16) Interest rate swap agreements – assets (1) Level 2 — — 3,099 3,099 Interest rate swap agreements – liabilities (1) Level 2 (84,553 ) (84,553 ) (52,453 ) (52,453 ) Cross currency interest swap agreements – liabilities (1) Level 2 (46,179 ) (46,179 ) (42,104 ) (42,104 ) Foreign currency contracts Level 2 53 53 (202 ) (202 ) Forward freight agreements Level 2 (165 ) (165 ) (86 ) (86 ) Non-recurring Vessels held for sale ( note 7 ) Level 2 — — 37,240 37,240 Operating lease right-of-use assets ( notes 6 and 7 ) Level 2 10,758 10,758 Other (2) Short-term debt ( note 9 ) Level 2 (10,000 ) (9,991 ) (50,000 ) (50,000 ) Long-term debt – public (note 10) Level 1 (452,037 ) (455,874 ) (619,794 ) (655,977 ) Long-term debt – non-public (note 10) Level 2 (1,773,450 ) (1,755,063 ) (2,207,358 ) (2,180,440 ) Obligations related to finance leases, including current portion ( note 6 ) Level 2 (1,778,530 ) (1,940,059 ) (1,825,692 ) (1,877,558 ) (1) The fair value of the Company's interest rate swap and cross currency swap agreements at June 30, 2020 includes $4.7 million ( December 31, 2019 – $3.4 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 investments in equity-accounted investments 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 June 30, 2020, $12.8 million relating to Teekay Tankers' sale of assets (note 7) was reflected in accounts receivable on the unaudited consolidated balance sheet. The estimated fair value approximated the carrying value at June 30, 2020. b) Credit Losses The Company's exposure to potential credit losses primarily includes Teekay Parent's one direct financing and sales-type leases (the Foinaven FPSO – see Note 3) and Teekay LNG's three direct financing leases, its two loans to equity-accounted joint ventures and its guarantees of its proportionate share of secured loan facilities and finance leases of five of its equity-accounted joint ventures. In addition, Teekay LNG's exposure to potential credit losses includes direct financing and sales-types leases for 18 LNG carriers, one FSU and an LNG regasification terminal within five of its equity-accounted joint ventures, consisting of the Yamal LNG Joint Venture, the Bahrain LNG Joint Venture, the Pan Union Joint Venture, the RasGas III Joint Venture and the Angola Joint Venture. For a description of these equity-accounted investments, see "Item 18 – Financial Statements: Note 23" in the Company’s Annual Report on Form 20-F for the year ended December 31, 2019 . The following table includes the amortized cost basis of the Company's direct interests in financing receivables and net investment in direct financing leases by class of financing receivables and by period of origination and their associated credit quality. Amortized Cost Basis by Origination Year Credit Quality Grade (1) 2020 2018 2016 Prior to 2016 Total As at June 30, 2020 $ $ $ $ $ Direct financing and sales-type leases – Teekay Parent Foinaven FPSO Performing 15,160 — — — 15,160 Direct financing leases – Teekay LNG Tangguh Hiri and Tangguh Sago Performing — — — 338,305 338,305 Bahrain Spirit Performing — 213,041 — — 213,041 — 213,041 — 338,305 551,346 Loans to equity-accounted joint ventures Exmar LPG Joint Venture Performing — — — 52,266 52,266 Bahrain LNG Joint Venture Performing — — 73,375 — 73,375 — — 73,375 52,266 125,641 15,160 213,041 73,375 390,571 692,147 (1) The Company's credit quality grades are based on internal risk credit ratings whereby a credit quality grade of performing is consistent with a low likelihood of loss. The Company assesses the credit quality of its direct financing leases and loan to the Exmar LPG Joint Venture on whether there are no past due payments, no concessions granted to the counterparties and whether the Company is aware of any other information that would indicate that there is a material increase of likelihood of loss. The same policy is applied by the equity-accounted joint ventures. As at June 30, 2020 , all direct financing and sales-type leases held by Teekay LNG's equity-accounted joint ventures had a credit quality grade of performing. Teekay LNG assesses the credit quality of its loan to the Bahrain LNG Joint Venture based on whether there are any past due payments (30 days late) from the Bahrain LNG Joint Venture's primary customer, whether the Bahrain LNG Joint Venture has granted any concessions to its primary customer and whether Teekay LNG is aware of any other information that would indicate that there is a material increase of likelihood of loss. Changes in the allowance for credit losses for the three and six months ended June 30, 2020 are as follows: Direct financing leases (1) $ Direct financing and sales-type leases and other within equity-accounted joint ventures (1) $ Loans to equity-accounted joint ventures (2) $ Guarantees of debt (3) $ Total $ As at January 1, 2020 11,155 36,292 3,714 2,139 53,300 Provision for expected credit losses (100 ) 8,980 — — 8,880 As at March 31, 2020 11,055 45,272 3,714 2,139 62,180 Provision for expected credit losses 465 (423 ) 83 (288 ) (163 ) As at June 30, 2020 11,520 44,849 3,797 1,851 62,017 (1) The credit loss provision related to the lease receivable component of the net investment in direct financing and sales-type leases is based on an internal historical loss rate, as adjusted when asset specific risk characteristics of the existing lease receivables at the reporting date are not consistent with those used to measure the internal historical loss rate and as further adjusted when management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed to measure the internal historical loss rate. During the six months ended June 30, 2020 , two LNG project counterparties maintained investment grade credit ratings. As such, the internal historical loss rate used to determine the credit loss provision at both January 1, 2020 and June 30, 2020 was adjusted downwards to reflect a lower risk profile for these two LNG projects at such dates compared to the average LNG project used to determine the internal historical loss rate. In addition, the internal historical loss rate was adjusted upwards for one LNG project to reflect a lower credit rating for the counterparty, including consideration of the critical infrastructure nature of assets, and a second LNG project to reflect a larger risk of loss given default as the vessels servicing this project have fewer opportunities for redeployment compared to Teekay LNG's other LNG carriers. The credit loss provision for the residual value component is based on a reversion methodology whereby the current estimated fair value of the vessel as depreciated to the end of the charter contract as compared to the expected carrying value, with such potential gain or loss on maturity being included in the credit loss provision in increasing magnitude on a straight-line basis the closer the contract is to its maturity. Risks related to the net investments in direct financing and sales-type leases consist of risks related to the underlying LNG projects and demand for LNG carriers at the end of the contracts. The provision for expected credit loss as at January 1, 2020 and June 30, 2020 has been developed in part based on Teekay LNG's understanding that LNG production is critical infrastructure. In addition, the provision for expected credit loss as at June 30, 2020 , within Teekay LNG's equity-accounted joint ventures reflects the commencement of the sales-type lease for the Bahrain regasification terminal and associated FSU in January 2020. The change in credit loss provision of a decrease of $0.4 million and an increase of $8.6 million for the three and six months ended June 30, 2020 , respectively, relating to the direct financing and sales-type leases and other within Teekay LNG's equity-accounted joint ventures are included in equity income. The change in credit loss provision recorded for Teekay LNG's direct financing and sales-type leases, loans to equity-accounted joint ventures and guarantees of debt of an increase of $0.3 million and an increase of $0.2 million for the three and six months ended June 30, 2020 , respectively, are included in other expense. (2) The determination of the credit loss provision for such loans is based on an internal historical loss rate of Teekay LNG and its affiliates, as adjusted when asset specific risk characteristics of the existing loans at the reporting date are not consistent with those used to measure the internal historical loss rate and as further adjusted when management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed to measure the internal historical loss rate. These two loans rank behind secured debt in each equity-accounted joint venture. As such, they are similar to equity in terms of risk. The Exmar LPG Joint Venture owns and charters-in LPG carriers with a primary focus on mid-size gas carriers. Their vessels are trading on the spot market or short-term charters. Adverse changes in the spot market for mid-size LPG carriers, as well as operating costs for such vessels, may impact the ability of the Exmar LPG Joint Venture to repay its loan to Teekay LNG. The Bahrain LNG Joint Venture owns an LNG receiving and regasification terminal in Bahrain. The ability of Bahrain LNG Joint Venture to repay its loan to Teekay LNG is primarily dependent upon the Bahrain LNG Joint Venture’s customer, a company owned by the Kingdom of Bahrain, fulfilling its obligations under the 20-year agreement, as well as Bahrain LNG Joint Venture’s ability to operate the terminal in accordance with the agreed upon operating criteria. (3) The determination of the credit loss provision for such guarantees was based on a probability of default and loss given default methodology. In determining the overall estimated loss from default as a percentage of the outstanding guaranteed share of secured loan facilities and finance leases, Teekay LNG considers current and future operational performance of the vessels securing the loan facilities and finance leases and current and future expectations of the proceeds that could be received from sale of the vessels securing the loan facilities and finance leases in comparison to the outstanding principal amount if Teekay LNG was called on its guarantees.

Restructuring Reversals (Charge

Restructuring Reversals (Charges)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges During the three and six months ended June 30, 2020 , the Company recorded restructuring charges of $4.6 million and $7.0 million , respectively. The restructuring charges primarily related to severance costs resulting from the expected termination of the management contract for an FSO unit based in Australia; the severance costs are fully recoverable from the customer and the recovery is presented in revenue. Restructuring charges also included severance costs resulting from the reorganization and realignment of resources of the Company's shared service function of which a portion of the costs were recovered from the customer, Altera (see Note 4 ), and the recovery is presented in revenue. In addition, the restructuring charges for the six months ended June 30, 2020 also related to the cessation of production of the Petrojarl Banff FPSO unit in June 2020. During the three and six months ended June 30, 2019 , the Company recorded restructuring charges of $1.4 million and $10.0 million . The restructuring charges primarily related to severance costs resulting from the termination of certain management contracts in Teekay Parent of which the costs were fully recovered from the customer and the recovery is presented in revenue, as well as from the termination of the charter contract for the Toledo Spirit Suezmax tanker in Teekay LNG upon the sale of the vessel in January 2019. At June 30, 2020 and December 31, 2019 , $5.8 million and $0.8 million , respectively, of restructuring liabilities were recorded in accrued liabilities and other on the unaudited consolidated balance sheets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss As at June 30, 2020 and December 31, 2019 , the Company’s accumulated other comprehensive loss consisted of the following components: June 30, December 31, 2020 2019 $ $ Unrealized loss on qualifying cash flow hedging instruments (49,312 ) (19,408 ) Pension adjustments, net of tax recoveries (4,358 ) (4,329 ) (53,670 ) (23,737 )

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company uses derivative instruments to manage certain risks in accordance with its overall risk management policies. Foreign Exchange Risk From time to time, the Company economically hedges portions of its forecasted expenditures denominated in foreign currencies with foreign currency forward contracts. As at June 30, 2020 , the Company was committed to the following foreign currency forward contracts: Contract Amount in Foreign Currency Average Forward Rate (1) Fair Value / Carrying Amount Of Asset (Liability) $ Expected Maturity 2020 $ GBP 4,000 0.81 53 4,908 (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 dates of the swaps, 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 2021 and 2023. In addition, the cross currency swaps economically hedge the interest rate exposure on the NOK bonds due in 2021 and 2023. The Company has not designated, for accounting purposes, these cross currency swaps as cash flow hedges of its NOK-denominated bonds due in 2021 and 2023. As at June 30, 2020 , the Company was committed to the following cross currency swaps: Fair Value / Carrying Amount of Asset / (Liability) $ Notional Notional Floating Rate Receivable Reference Rate Margin Fixed Rate Payable Remaining Term (years) 1,200,000 146,500 NIBOR 6.00% 7.72% (24,681 ) 1.3 850,000 102,000 NIBOR 4.60% 7.89% (21,498 ) 3.2 (46,179 ) 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 June 30, 2020 , 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 debts were swapped with fixed-rate obligations: Interest Rate Index Principal Amount Fair Value / Carrying Amount of Asset / (Liability) $ Weighted- Fixed Swap Rate (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 847,832 (77,586 ) 4.2 3.0 EURIBOR-Based Debt: Euro-denominated interest rate swaps EURIBOR 70,220 (6,967 ) 3.2 3.9 (84,553 ) (1) Excludes the margins the Company pays on its variable-rate debt which, as of June 30, 2020 , ranged from 0.3% to 3.95% . (2) Includes interest rate swaps with the notional amount reducing quarterly or semi-annually. Three interest rate swaps are subject to mandatory early termination in 2021 and 2024, at which time the swaps will be settled based on their fair value. Stock Purchase Warrants Prior to the 2019 Brookfield Transaction, Teekay held 15.5 million Brookfield Transaction Warrants and 1,755,000 Series D Warrants of Teekay Offshore (see Note 4 ). As part of the 2019 Brookfield Transaction, Teekay sold to Brookfield all of the Company’s remaining interests in Teekay Offshore, which included, among other things, both the Brookfield Transaction Warrants and Series D Warrants. Tabular Disclosure The following tables present 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 (1) Accrued Liabilities and Other (2) Other Long-Term Liabilities $ $ $ $ $ As at June 30, 2020 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — (63 ) (3,085 ) (11,453 ) Derivatives not designated as a cash flow hedge: Foreign currency forward contracts 53 — — — — Interest rate swap agreements — — (3,809 ) (27,130 ) (39,013 ) Cross currency swap agreements — — (872 ) (5,995 ) (39,312 ) Forward freight agreements — — — (165 ) — 53 — (4,744 ) (36,375 ) (89,778 ) Prepaid Expenses and Other Other Non-Current Assets Accrued Liabilities and Other (1) Accrued Liabilities and Other (2) Other Long-Term Liabilities $ $ $ $ $ As at December 31, 2019 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — (13 ) (836 ) (3,475 ) Derivatives not designated as a cash flow hedge: Foreign currency forward contracts — — — (202 ) — Interest rate swap agreements 932 1,916 (2,948 ) (15,478 ) (29,452 ) Cross currency swap agreements — — (456 ) (22,661 ) (18,987 ) Forward freight agreements — — — (86 ) — 932 1,916 (3,417 ) (39,263 ) (51,914 ) (1) Represents accrued interest related to derivative instruments presented in accrued liabilities and other on the consolidated balance sheets (see Note 8). (2) Represents the current portion of derivative liabilities presented in accrued liabilities and other on the consolidated balance sheets (see Note 8). As at June 30, 2020 , the Company had multiple interest rate swaps and cross currency swaps 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 June 30, 2020 , these derivatives had an aggregate fair value asset amount of $0.1 million and an aggregate fair value liability amount of $104.8 million . As at June 30, 2020 , the Company had $23.3 million on deposit with the relevant counterparties as security for swap liabilities under certain master agreements. The deposit is presented in restricted cash – current and long-term on the consolidated balance sheets. For the periods indicated, the following tables present the gains (losses) on interest rate swap agreements designated and qualifying as cash flow hedges (excluding such agreements in equity-accounted investments): Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 Amount of Loss Recognized in OCI Amount of Loss Reclassified from Accumulated OCI to Interest Expense Amount of Loss Recognized in OCI Amount of Gain Reclassified from Accumulated OCI to Interest Expense (1,055) (482) (4,570) 157 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 Amount of Loss Recognized in OCI Amount of Loss Reclassified from Accumulated OCI to Interest Expense Amount of Loss Recognized in OCI Amount of Gain Reclassified from Accumulated OCI to Interest Expense (10,226) (634) (7,402) 408 Realized and unrealized (losses) 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) gains on non-designated derivatives in the unaudited consolidated statements of income (loss) as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Realized losses relating to: Interest rate swap agreements (3,879 ) (1,785 ) (6,556 ) (3,473 ) Foreign currency forward contracts — — (241 ) — Stock purchase warrants — (25,559 ) — (25,559 ) Forward freight agreements (201 ) (29 ) (250 ) (42 ) (4,080 ) (27,373 ) (7,047 ) (29,074 ) Unrealized (losses) gains relating to: Interest rate swap agreements (5,251 ) (8,195 ) (24,063 ) (14,216 ) Foreign currency forward contracts 53 (101 ) 255 (101 ) Stock purchase warrants — 24,584 — 26,900 Forward freight agreements 8 121 (78 ) 104 (5,190 ) 16,409 (23,886 ) 12,687 Total realized and unrealized losses on derivative instruments (9,270 ) (10,964 ) (30,933 ) (16,387 ) Realized and unrealized (losses) gains from cross currency swaps are recognized in earnings and reported in foreign exchange loss in the unaudited consolidated statements of income (loss) as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Realized losses on maturity and termination of cross currency swaps (33,844 ) — (33,844 ) — Realized losses (1,430 ) (1,087 ) (3,247 ) (2,521 ) Unrealized gains (losses) 45,882 (140 ) (3,658 ) (2,060 ) Total realized and unrealized gains (losses) on cross currency swaps 10,608 (1,227 ) (40,749 ) (4,581 ) 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 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)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Tax Recovery (Expense) The components of the provision for income tax recovery (expense) are as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Current 16,408 (3,219 ) 12,622 (8,072 ) Deferred 767 (185 ) 761 (368 ) Income tax recovery (expense) 17,175 (3,404 ) 13,383 (8,440 ) The following table reflects changes in uncertain tax positions relating to freight tax liabilities, which are recorded in other long-term liabilities and accrued liabilities on the Company's unaudited consolidated balance sheets: Six Months Ended June 30, 2020 2019 $ $ Balance of unrecognized tax benefits as at January 1 62,958 40,556 Increases for positions related to the current year 2,947 2,106 Changes for positions taken in prior years (13,424 ) 4,121 Decrease related to statute limitations (1,480 ) — Balance of unrecognized tax benefits as at June 30 51,001 46,783 Included in the Company's current income tax expense are provisions for uncertain tax positions relating to freight taxes. In the three months ended June 30, 2020, the Company obtained further legal advice regarding the applicable tax rate in respect of freight taxes in a certain jurisdiction and subsequently secured an agreement in principle with a tax authority relating to an outstanding uncertain tax liability. The agreement in principle is based in part on a recent initiative of the tax authority in response to COVID-19, which included the waiver of interest and penalties on unpaid taxes. Based on this and other clarifications of tax regulations, the Company has reversed $ 16.6 million of freight tax liabilities in the three months ended June 30, 2020. The Company classified the remaining liability for this jurisdiction of approximately $ 9.8 million to accrued liabilities on the Company's unaudited consolidated balance sheet as of June 30, 2020. The Company does not presently anticipate that its provisions for uncertain tax positions relating to freight taxes will significantly increase in the next 12 months; however, this is dependent on the jurisdictions in which vessel trading activity occurs . The Company reviews its freight tax obligations on a regular basis and may update its assessment of its tax positions based on available information at the time. Such information may include legal advice as to the applicability of freight taxes in relevant jurisdictions. Freight tax regulations are subject to change and interpretation; therefore, the amounts recorded by the Company may change accordingly. The tax years 2008 through 2020 remain open to examination by some of the major jurisdictions in which the Company is subject to tax.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	Net Income (Loss) Per Share Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted 21,723 (39,485 ) (28,082 ) (123,742 ) Weighted average number of common shares 101,107,362 100,783,496 100,997,456 100,652,685 Dilutive effect of stock-based compensation 89,021 — — — Common stock and common stock equivalents 101,196,383 100,783,496 100,997,456 100,652,685 Income (loss) per common share: - Basic 0.21 (0.39 ) (0.28 ) (1.23 ) - Diluted 0.21 (0.39 ) (0.28 ) (1.23 ) The Company intends to settle the principal of the Convertible Notes in cash on conversion and calculates diluted earnings per share using the treasury-stock method. Stock-based awards and the conversion feature on the Convertible Notes that have an anti-dilutive effect on the calculation of diluted loss per common share, are excluded from this calculation. For the three and six months ended June 30, 2020 , the number of Common Stock from stock-based awards and the conversion feature on the Convertible Notes that had an anti-dilutive effect on the calculation of diluted earnings per common share were 6.0 million ( three and six months ended June 30, 2019 – 6.1 million ). In periods where a loss attributable to shareholders of Teekay has been incurred, all stock-based awards and the conversion feature on the Convertible Notes are anti-dilutive.

Supplementary Cash Flow Informa

Supplementary Cash Flow Information	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplementary Cash Flow Information	Supplemental Cash Flow Information Total cash, cash equivalents, restricted cash, and cash and restricted cash held for sale are as follows: June 30, 2020 December 31, 2019 June 30, 2019 December 31, 2018 $ $ $ $ Cash and cash equivalents 461,152 353,241 235,199 424,169 Restricted cash – current 16,317 56,777 50,798 40,493 Restricted cash – non-current 61,948 44,849 36,886 40,977 Assets held for sale – cash — 1,121 — — Assets held for sale – restricted cash — 337 — — 539,417 456,325 322,883 505,639 The Company maintains restricted cash deposits relating to certain term loans, collateral for cross currency swaps (see Note 16 ), performance bond collateral, leasing arrangements, project tenders and amounts received from charterers to be used only for dry-docking expenditures and emergency repairs. On March 27, 2020, Teekay Parent sold Golar-Nor to Altera (see Note 6). Among the assets and liabilities of Golar-Nor that were deconsolidated concurrent with the sale were Golar-Nor's operating lease right-of-use assets and operating lease liabilities relating to the Petroatlantic and Petronordic shuttle tankers totaling $50.7 million and $50.7 million , respectively. The sale of the Toledo Spirit by its owner during the three and six months ended June 30, 2019 , resulted in the vessel being returned to its owner with the obligation related to finance lease being concurrently extinguished. As a result, the sale of the vessel and the concurrent extinguishment of the corresponding obligation related to finance lease of $23.6 million for the three and six months ended June 30, 2019 , was treated as a non-cash transaction in the Company's unaudited consolidated statements of cash flows.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Event [Line Items]
Subsequent Events	20 . Subsequent Events a) On August 20, 2020, Teekay LNG priced, in the Norwegian bond market, NOK 1.0 billion in new senior unsecured bonds that mature in September 2025. The new bond issuance has an aggregate principal amount equivalent to approximately $112 million and all payments were swapped into a U.S. Dollar fixed-rate coupon of approximately 5.74% . Teekay LNG expects to close the bond offering in early-September 2020 and intends to use the net proceeds of the new bond issuance for general partnership purposes. Teekay LNG will apply for listing of the new bonds on the Oslo Stock Exchange. b) In August 2020, Teekay Tankers entered into a new $67.4 million term loan debt facility to refinance four vessels which is scheduled to mature in 2023. Upon completion of the refinancing, Teekay no longer guarantees any of Teekay Tankers' debt obligations (see Note 10 ).

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim consolidated financial statements have been prepared in accordance 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, its wholly-owned or controlled subsidiaries and any variable interest entities (or VIEs ) of which Teekay is the primary beneficiary (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 publicly-traded subsidiaries Teekay LNG Partners L.P. (or Teekay LNG ) and Teekay Tankers Ltd. (or Teekay Tankers ). Certain information and footnote disclosures required by GAAP for complete annual financial statements have been omitted from these unaudited interim consolidated financial statements and, therefore, these financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2019 , included in the Company’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (or SEC ) on April 8, 2020. In the opinion of management, these unaudited interim consolidated financial statements reflect all adjustments, consisting 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 six months ended June 30, 2020 , are not necessarily indicative of those for a full fiscal year. Significant intercompany balances and transactions have been eliminated upon consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited financial statements and accompanying notes. Actual results could differ from those estimates. It is possible that the amounts recorded as derivative assets and liabilities could vary by material amounts prior to their settlement. In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (or COVID-19) as a pandemic. Given the dynamic nature of these circumstances, the full extent to which the COVID-19 pandemic may have direct or indirect impact on the Company's business and the related financial reporting implications cannot be reasonably estimated at this time, although the pandemic could materially affect the Company's business, results of operations and financial condition in the future. Spot tanker rates have come under pressure since mid-May 2020 as a result of record OPEC+ oil production cuts and lower production from other oil producing countries which reduced crude exports, and the unwinding of floating storage. COVID-19 was also a contributing factor to the write-down of six of Teekay LNG's multi-gas vessels and one floating production storage and offloading (or FPSO ) unit during the six months ended June 30, 2020 as described in Note 7 - Write-down and Gain (Loss) on Sale , as well as being a contributing factor to the reduction in certain tax accruals as described in Note 17 - Income Tax Recovery (Expense) . Voyage expenses incurred that are recoverable from the Teekay Tankers' customers in connection with its voyage charter contracts are reflected in voyage charter revenues and voyage expenses. The Company recast prior periods to reflect this presentation. This had the impact of increasing both voyage charter revenues and voyage expenses by $4.7 million and $10.4 million for the three and six months ended June 30, 2019, respectively.

Accounting Pronouncements Accou

Accounting Pronouncements Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements, Policy	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (or FASB ) issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (or ASU 2016-13 ). ASU 2016-13 introduced a new credit loss methodology, which requires earlier recognition of potential credit losses, while also providing additional transparency about credit risk. This new credit loss methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, held-to-maturity debt securities and other receivables at the time the financial asset is originated or acquired. The expected credit losses are subsequently adjusted each period for changes in expected lifetime credit losses. This methodology replaced multiple impairment methods under previous GAAP for these type of assets, which generally required that a loss be incurred before it was recognized. The Company adopted this update on January 1, 2020 with a modified-retrospective approach, whereby a cumulative-effect adjustment was made to increase accumulated deficit on January 1, 2020 without any retroactive application to prior periods. The Company's net investment in direct financing and sales-type leases, loans to equity-accounted investments, guarantees of indebtedness of equity-accounted investments and receivables related to non-operating lease revenue arrangements are subject to ASU 2016-13. On adoption, the Company decreased the carrying value of investment in and loans to equity-accounted investments by $40.0 million , non-controlling interest by $36.1 million and net investment in direct financing and sales-type leases by $11.2 million and increased accumulated deficit by $17.2 million and its other long-term liabilities by $2.1 million . The cumulative adjustment recorded on initial adoption of this update does not reflect an increase in credit risk exposure to the Company compared to previous periods presented. In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (or ASU 2019-12) , as part of its initiative to reduce complexity in the accounting standards. The amendments in ASU 2019-12 eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences, among other changes. The guidance becomes effective for annual reporting periods beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted, including adoption in any interim period. The Company is currently evaluating the effect of adopting this new guidance. In March 2020, the FASB issued ASU 2020-04 - Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting (or ASU 2020-04 ). This ASU provides optional guidance for a limited period of time to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as the London Interbank Offered Rate (or LIBOR ). This ASU applies only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. This ASU is effective through December 31, 2022. The Company is currently evaluating the effect of adopting this new guidance.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables contain the Company’s revenue for the three and six months ended June 30, 2020 and 2019 , by contract type, by segment and by business lines within segments. Three Months Ended June 30, 2020 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 135,761 — 34,986 — 4,096 — 174,843 Voyage charters 10,383 — 207,926 — — — 218,309 FPSO contracts — — — 28,787 — — 28,787 Management fees and other 2,061 — 3,580 — 55,225 — 60,866 148,205 — 246,492 28,787 59,321 — 482,805 Three Months Ended June 30, 2019 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 133,684 2,369 1,496 — 8,078 (2,487 ) 143,140 Voyage charters 8,858 — 191,495 — — — 200,353 Bareboat charters 6,129 — — — — — 6,129 FPSO contracts — — — 57,828 — — 57,828 Management fees and other 2,020 — 14,016 — 39,911 (1,000 ) 54,947 150,691 2,369 207,007 57,828 47,989 (3,487 ) 462,397 Six Months Ended June 30, 2020 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 266,306 — 50,553 — 9,053 — 325,912 Voyage charters 17,700 — 525,404 — — — 543,104 FPSO contracts — — — 74,720 — — 74,720 Management fees and other 4,086 — 12,435 — 96,602 — 113,123 288,092 — 588,392 74,720 105,655 — 1,056,859 Six Months Ended June 30, 2019 Teekay LNG Liquefied Gas Carriers Teekay LNG Conventional Tankers Teekay Tankers Conventional Tankers Teekay Parent Offshore Production Teekay Parent Other Eliminations and Other Total $ $ $ $ $ $ $ Time charters 264,459 5,131 4,906 — 14,347 (2,487 ) 286,356 Voyage charters 18,018 — 413,572 — — — 431,590 Bareboat charters 12,191 — — — — — 12,191 FPSO contracts — — 107,266 — — 107,266 Management fees and other 3,005 — 26,690 — 84,301 (2,129 ) 111,867 297,673 5,131 445,168 107,266 98,648 (4,616 ) 949,270
Revenue from External Customers by Products and Services [Table Text Block]	The following table contains the Company's total revenue for the three and six months ended June 30, 2020 and 2019 , by those contracts or components of contracts accounted for as leases and by those contracts or components not accounted for as leases. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Lease revenue Lease revenue from lease payments of operating leases 390,407 359,140 876,590 747,933 Interest income on lease receivables 12,877 12,969 25,543 25,763 Variable lease payments – cost reimbursements (1) 13,658 13,307 26,848 25,316 Variable lease payments – other (2) — 16,320 5,218 27,152 416,942 401,736 934,199 826,164 Non-lease revenue Non-lease revenue – related to sales-type or direct financing leases 4,997 5,714 9,537 11,239 Management fees and other income 60,866 54,947 113,123 111,867 65,863 60,661 122,660 123,106 Total 482,805 462,397 1,056,859 949,270 (1) Reimbursement for vessel operating expenditures and dry-docking expenditures received from the Company's customers relating to such costs incurred by the Company to operate the vessel for the customer. (2) Compensation from time-charter contracts based on spot market rates in excess of a base daily hire amount, production tariffs based on the volume of oil produced, the price of oil and other monthly or annual operational performance measures.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Disaggregation of Revenue	The following table includes the Company’s revenues by segment for the three and six months ended June 30, 2020 and 2019 : Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Teekay LNG Liquefied Gas Carriers 148,205 150,691 288,092 297,673 Conventional Tankers — 2,369 — 5,131 148,205 153,060 288,092 302,804 Teekay Tankers Conventional Tankers (1) 246,492 207,007 588,392 445,168 Teekay Parent Offshore Production 28,787 57,828 74,720 107,266 Other 59,321 47,989 105,655 98,648 88,108 105,817 180,375 205,914 Eliminations and other (1) — (3,487 ) — (4,616 ) 482,805 462,397 1,056,859 949,270 (1) During 2019, Teekay Tankers' ship-to-ship transfer business provided operational and maintenance services to Teekay LNG Bahrain Operations L.L.C., an entity wholly-owned by Teekay LNG, for the LNG receiving and regasification terminal in Bahrain. Also during 2019, the Magellan Spirit was chartered by Teekay LNG to Teekay Parent.
Income (loss) from Vessel Operations by Segment	The following table includes the Company’s income (loss) from vessel operations by segment for the three and six months ended June 30, 2020 and 2019 : Income (Loss) from Vessel Operations (1) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Teekay LNG Liquefied Gas Carriers 69,589 74,244 91,327 144,687 Conventional Tankers — 433 — (649 ) 69,589 74,677 91,327 144,038 Teekay Tankers Conventional Tankers 92,986 5,051 213,112 37,148 Teekay Parent Offshore Production (11,540 ) (5,987 ) (23,808 ) (18,544 ) Other (2,531 ) (2,278 ) (3,231 ) (6,947 ) (14,071 ) (8,265 ) (27,039 ) (25,491 ) 148,504 71,463 277,400 155,695 (1) Includes direct general and administrative expenses and indirect general and administrative expenses (allocated to each segment based on estimated use of corporate resources).
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: June 30, 2020 December 31, 2019 $ $ Teekay LNG – Liquefied Gas Carriers 4,762,748 5,249,465 Teekay Tankers – Conventional Tankers 1,904,059 2,140,652 Teekay Parent – Offshore Production 48,867 161,096 Teekay Parent – Other 52,848 80,455 Cash and cash equivalents 461,152 353,241 Other assets not allocated 126,197 102,701 Eliminations (10,359 ) (14,746 ) Consolidated total assets 7,345,512 8,072,864

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Lease, Cost [Table Text Block]	Obligations Related to Finance Leases June 30, 2020 December 31, 2019 $ $ Teekay LNG LNG Carriers 1,376,011 1,410,904 Teekay Tankers Conventional Tankers 402,519 414,788 Total obligations related to finance leases 1,778,530 1,825,692 Less current portion (97,237 ) (95,339 ) Long-term obligations related to finance leases 1,681,293 1,730,353
Finance Lease, Liability, Maturity [Table Text Block]	As at June 30, 2020 , the total remaining commitments related to the financial liabilities of Teekay Tankers' Suezmax tankers, Aframax tankers and LR2 product tankers, including the amounts to be paid for the related purchase obligations, approximated $573.9 million , including imputed interest of $171.4 million , repayable from 2020 through 2030, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 28,449 2021 56,222 2022 56,213 2023 56,204 2024 56,348 Thereafter 320,481 As at June 30, 2020 , the remaining commitments related to the financial liabilities of these nine LNG carriers, including the amounts to be paid for the related purchase obligations, approximated $1.8 billion , including imputed interest of $435.3 million , repayable through 2034, as indicated below: Commitments At June 30, 2020 Year $ Remainder of 2020 69,886 2021 138,601 2022 136,959 2023 135,459 2024 132,011 Thereafter 1,198,366

Write-down and Loss on Sales _2

Write-down and Loss on Sales of Vessels (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Impairment and Loss on Sale of Vessels, Equipment and Other Operating Assets	The following table contains the write-downs, gains and losses on sales of vessels for the three and six months ended June 30, 2020 and 2019 : Three Months Ended June 30, Segment Asset Type Completion of Sale Date 2020 2019 Teekay Parent Segment – Offshore Production (1) 1 FPSO unit N/A (13,566 ) — Teekay Tankers Segment – Conventional Tankers (2) (2) Apr-2020 3,081 — Teekay Tankers Segment – Conventional Tankers (3) 1 Suezmax N/A 460 — Teekay Tankers Segment – Conventional Tankers Operating lease right-of-use N/A (644 ) — Total (10,669 ) — Six Months Ended June 30, Segment Asset Type Completion of Sale Date 2020 2019 Teekay Parent Segment – Offshore Production (1) 2 FPSO units N/A (60,085 ) — Teekay Parent Segment – Offshore Production (4) 1 FPSO unit N/A — (3,328 ) Teekay LNG Segment – Liquefied Gas Carriers (5) 6 Multi-gas Carriers N/A (45,000 ) — Teekay Tankers Segment – Conventional Tankers (2) (2) Apr-2020 3,081 — Teekay Tankers Segment – Conventional Tankers (3) 1 Suezmax N/A — — Teekay Tankers Segment – Conventional Tankers 3 Suezmaxes Feb/Mar-2020 (2,627 ) — Teekay Tankers Segment – Conventional Tankers Operating lease right-of-use N/A (644 ) — Total (105,275 ) (3,328 ) (1) During the first half of 2020, Teekay Parent recognized impairment charges of $60.1 million in respect of two of its FPSO units. In the first quarter of 2020, CNR International (U.K.) Limited (or CNR ) provided formal notice to Teekay of its intention to cease production in June 2020 and decommission the Banff field shortly thereafter. As such, the Company expects to remove the Petrojarl Banff FPSO and Apollo Spirit FSO from the Banff field in 2020 and the subsea equipment in 2021. The Company expects to scrap the FPSO unit and sub-sea equipment and redeliver the FSO unit to its owner following removal from the field. Accordingly, the asset retirement obligation for the Petrojarl Banff FPSO unit was increased based on recent changes to cost estimates and the carrying value of the unit was fully written down. During the first quarter of 2020, the Company also made changes to its expected cash flows from the Sevan Hummingbird FPSO unit based on the market environment and oil prices at that time, and recent discussions with a potential buyer about the possible sale of the unit. This led to the write-down of the unit to its estimated fair value, using a discounted cash flow approach. See Note 13. (2) On April 30, 2020, Teekay Tankers completed the sale of the non-US portion of its ship-to-ship support services business as well as its LNG terminal management business for proceeds of $27.1 million , including an adjustment of $1.1 million for the final amounts of cash and other working capital present on the closing date. $14.3 million of the total proceeds were received on closing and the remaining $12.7 million was received in July 2020. (3) As at March 31, 2020, Teekay Tankers classified one Suezmax tanker as held for sale. The vessel cost, net of the estimated closing cost, was written down by $0.5 million to its estimated sales price. As at June 30, 2020, this vessel no longer met the requirements to be classified as held for sale and the asset was reinstated as held for use. The previous write-down of $0.5 million was reversed when the asset was reinstated as held for use. (4) On March 27, 2020, the Company entered into a bareboat charter agreement for Petrojarl Foinaven FPSO unit which was accounted for as a sales-type lease. See Note 3. (5) In March 2020, the carrying values for six of Teekay LNG's seven

Accrued Liabilities and Other_2

Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilties and Other and Other Long-Term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilities and Other June 30, 2020 December 31, 2019 $ $ Accrued liabilities Voyage and vessel expenses 109,925 121,937 Interest 25,079 29,371 Payroll and related liabilities 39,298 33,494 Distributions payable and other 6,425 6,487 Deferred revenues – current 39,749 36,242 In-process revenue contracts – current — 5,933 Current portion of derivative liabilities ( note 16 ) 36,375 39,263 Office lease liability – current 2,654 3,627 Loans from equity-accounted investments 25,442 18,647 Asset retirement obligation – current 19,000 — 303,947 295,001
Other Noncurrent Liabilities [Table Text Block]	Other Long-Term Liabilities June 30, 2020 December 31, 2019 $ $ Deferred revenues and gains 26,222 28,612 Guarantee liabilities 12,053 10,113 Asset retirement obligation 39,565 31,068 Pension liabilities 7,512 7,238 In-process revenue contracts — 11,866 Derivative liabilities ( note 16 ) 89,778 51,914 Unrecognized tax benefits ( note 17 ) 41,188 62,958 Office lease liability – long-term 10,016 10,254 Other 3,081 2,325 229,415 216,348

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt	June 30, 2020 December 31, 2019 $ $ Revolving Credit Facilities 521,594 603,132 Senior Notes (8.5%) due January 15, 2020 — 36,712 Senior Notes (9.25%) due November 15, 2022 250,000 250,000 Convertible Senior Notes (5%) due January 15, 2023 125,000 125,000 Norwegian Krone-denominated Bonds due through August 2023 212,985 347,163 U.S. Dollar-denominated Term Loans due through 2030 1,002,761 1,336,437 Euro-denominated Term Loans due through 2024 153,200 165,376 Other U.S. Dollar-denominated loan 446 3,300 Total principal 2,265,986 2,867,120 Less unamortized discount and debt issuance costs (40,499 ) (39,968 ) Total debt 2,225,487 2,827,152 Less current portion (322,831 ) (523,312 ) Long-term portion 1,902,656 2,303,840

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Vessels Under Constructions and Upgrades	a) Vessels Under Construction and Upgrades Teekay LNG's share of commitments to fund equipment installation and other construction contract costs as at June 30, 2020 are as follows: Total Remainder of 2021 2022 Certain consolidated LNG carriers (i) 41,626 4,058 22,917 14,651 Bahrain LNG Joint Venture (ii) 11,351 11,351 — — 52,977 15,409 22,917 14,651 (i) In June 2019, Teekay LNG entered into an agreement with a contractor to supply equipment on certain of Teekay LNG's LNG carriers in 2021 and 2022, for an estimated installed cost of $58.1 million . As at June 30, 2020 , the estimated remaining cost of this installation is $41.6 million . (ii) Teekay LNG has a 30% ownership interest in the Bahrain LNG Joint Venture which has an LNG receiving and regasification terminal in Bahrain. As at June 30, 2020 , Teekay LNG's proportionate share of the estimated remaining cost of $11.4 million relates to the final construction installment on the LNG terminal. The Bahrain LNG Joint Venture has remaining debt financing of $24 million , which is undrawn, of which $7 million relates to Teekay LNG's proportionate share of the construction commitments included in the table above.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2020
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. June 30, 2020 December 31, 2019 Fair Value Hierarchy Level Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Carrying Amount Asset (Liability) $ Fair Value Asset (Liability) $ Recurring Cash, cash equivalents and restricted cash ( note 19 ) Level 1 539,417 539,417 454,867 454,867 Derivative instruments (note 16) Interest rate swap agreements – assets (1) Level 2 — — 3,099 3,099 Interest rate swap agreements – liabilities (1) Level 2 (84,553 ) (84,553 ) (52,453 ) (52,453 ) Cross currency interest swap agreements – liabilities (1) Level 2 (46,179 ) (46,179 ) (42,104 ) (42,104 ) Foreign currency contracts Level 2 53 53 (202 ) (202 ) Forward freight agreements Level 2 (165 ) (165 ) (86 ) (86 ) Non-recurring Vessels held for sale ( note 7 ) Level 2 — — 37,240 37,240 Operating lease right-of-use assets ( notes 6 and 7 ) Level 2 10,758 10,758 Other (2) Short-term debt ( note 9 ) Level 2 (10,000 ) (9,991 ) (50,000 ) (50,000 ) Long-term debt – public (note 10) Level 1 (452,037 ) (455,874 ) (619,794 ) (655,977 ) Long-term debt – non-public (note 10) Level 2 (1,773,450 ) (1,755,063 ) (2,207,358 ) (2,180,440 ) Obligations related to finance leases, including current portion ( note 6 ) Level 2 (1,778,530 ) (1,940,059 ) (1,825,692 ) (1,877,558 ) (1) The fair value of the Company's interest rate swap and cross currency swap agreements at June 30, 2020 includes $4.7 million ( December 31, 2019 – $3.4 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 investments in equity-accounted investments 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 June 30, 2020, $12.8 million relating to Teekay Tankers' sale of assets (note 7) was reflected in accounts receivable on the unaudited consolidated balance sheet. The estimated fair value approximated the carrying value at June 30, 2020.
Summary of Financing Receivables	The following table includes the amortized cost basis of the Company's direct interests in financing receivables and net investment in direct financing leases by class of financing receivables and by period of origination and their associated credit quality. Amortized Cost Basis by Origination Year Credit Quality Grade (1) 2020 2018 2016 Prior to 2016 Total As at June 30, 2020 $ $ $ $ $ Direct financing and sales-type leases – Teekay Parent Foinaven FPSO Performing 15,160 — — — 15,160 Direct financing leases – Teekay LNG Tangguh Hiri and Tangguh Sago Performing — — — 338,305 338,305 Bahrain Spirit Performing — 213,041 — — 213,041 — 213,041 — 338,305 551,346 Loans to equity-accounted joint ventures Exmar LPG Joint Venture Performing — — — 52,266 52,266 Bahrain LNG Joint Venture Performing — — 73,375 — 73,375 — — 73,375 52,266 125,641 15,160 213,041 73,375 390,571 692,147 (1) The Company's credit quality grades are based on internal risk credit ratings whereby a credit quality grade of performing is consistent with a low likelihood of loss. The Company assesses the credit quality of its direct financing leases and loan to the Exmar LPG Joint Venture on whether there are no past due payments, no concessions granted to the counterparties and whether the Company is aware of any other information that would indicate that there is a material increase of likelihood of loss. The same policy is applied by the equity-accounted joint ventures. As at June 30, 2020 , all direct financing and sales-type leases held by Teekay LNG's equity-accounted joint ventures had a credit quality grade of performing. Teekay LNG assesses the credit quality of its loan to the Bahrain LNG Joint Venture based on whether there are any past due payments (30 days late) from the Bahrain LNG Joint Venture's primary customer, whether the Bahrain LNG Joint Venture has granted any concessions to its primary customer and whether Teekay LNG is aware of any other information that would indicate that there is a material increase of likelihood of loss.
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Changes in the allowance for credit losses for the three and six months ended June 30, 2020 are as follows: Direct financing leases (1) $ Direct financing and sales-type leases and other within equity-accounted joint ventures (1) $ Loans to equity-accounted joint ventures (2) $ Guarantees of debt (3) $ Total $ As at January 1, 2020 11,155 36,292 3,714 2,139 53,300 Provision for expected credit losses (100 ) 8,980 — — 8,880 As at March 31, 2020 11,055 45,272 3,714 2,139 62,180 Provision for expected credit losses 465 (423 ) 83 (288 ) (163 ) As at June 30, 2020 11,520 44,849 3,797 1,851 62,017 (1) The credit loss provision related to the lease receivable component of the net investment in direct financing and sales-type leases is based on an internal historical loss rate, as adjusted when asset specific risk characteristics of the existing lease receivables at the reporting date are not consistent with those used to measure the internal historical loss rate and as further adjusted when management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed to measure the internal historical loss rate. During the six months ended June 30, 2020 , two LNG project counterparties maintained investment grade credit ratings. As such, the internal historical loss rate used to determine the credit loss provision at both January 1, 2020 and June 30, 2020 was adjusted downwards to reflect a lower risk profile for these two LNG projects at such dates compared to the average LNG project used to determine the internal historical loss rate. In addition, the internal historical loss rate was adjusted upwards for one LNG project to reflect a lower credit rating for the counterparty, including consideration of the critical infrastructure nature of assets, and a second LNG project to reflect a larger risk of loss given default as the vessels servicing this project have fewer opportunities for redeployment compared to Teekay LNG's other LNG carriers. The credit loss provision for the residual value component is based on a reversion methodology whereby the current estimated fair value of the vessel as depreciated to the end of the charter contract as compared to the expected carrying value, with such potential gain or loss on maturity being included in the credit loss provision in increasing magnitude on a straight-line basis the closer the contract is to its maturity. Risks related to the net investments in direct financing and sales-type leases consist of risks related to the underlying LNG projects and demand for LNG carriers at the end of the contracts. The provision for expected credit loss as at January 1, 2020 and June 30, 2020 has been developed in part based on Teekay LNG's understanding that LNG production is critical infrastructure. In addition, the provision for expected credit loss as at June 30, 2020 , within Teekay LNG's equity-accounted joint ventures reflects the commencement of the sales-type lease for the Bahrain regasification terminal and associated FSU in January 2020. The change in credit loss provision of a decrease of $0.4 million and an increase of $8.6 million for the three and six months ended June 30, 2020 , respectively, relating to the direct financing and sales-type leases and other within Teekay LNG's equity-accounted joint ventures are included in equity income. The change in credit loss provision recorded for Teekay LNG's direct financing and sales-type leases, loans to equity-accounted joint ventures and guarantees of debt of an increase of $0.3 million and an increase of $0.2 million for the three and six months ended June 30, 2020 , respectively, are included in other expense. (2) The determination of the credit loss provision for such loans is based on an internal historical loss rate of Teekay LNG and its affiliates, as adjusted when asset specific risk characteristics of the existing loans at the reporting date are not consistent with those used to measure the internal historical loss rate and as further adjusted when management expects current conditions and reasonable and supportable forecasts to differ from the conditions that existed to measure the internal historical loss rate. These two loans rank behind secured debt in each equity-accounted joint venture. As such, they are similar to equity in terms of risk. The Exmar LPG Joint Venture owns and charters-in LPG carriers with a primary focus on mid-size gas carriers. Their vessels are trading on the spot market or short-term charters. Adverse changes in the spot market for mid-size LPG carriers, as well as operating costs for such vessels, may impact the ability of the Exmar LPG Joint Venture to repay its loan to Teekay LNG. The Bahrain LNG Joint Venture owns an LNG receiving and regasification terminal in Bahrain. The ability of Bahrain LNG Joint Venture to repay its loan to Teekay LNG is primarily dependent upon the Bahrain LNG Joint Venture’s customer, a company owned by the Kingdom of Bahrain, fulfilling its obligations under the 20-year agreement, as well as Bahrain LNG Joint Venture’s ability to operate the terminal in accordance with the agreed upon operating criteria. (3) The determination of the credit loss provision for such guarantees was based on a probability of default and loss given default methodology. In determining the overall estimated loss from default as a percentage of the outstanding guaranteed share of secured loan facilities and finance leases, Teekay LNG considers current and future operational performance of the vessels securing the loan facilities and finance leases and current and future expectations of the proceeds that could be received from sale of the vessels securing the loan facilities and finance leases in comparison to the outstanding principal amount if Teekay LNG was called on its guarantees.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss As at June 30, 2020 and December 31, 2019 , the Company’s accumulated other comprehensive loss consisted of the following components: June 30, December 31, 2020 2019 $ $ Unrealized loss on qualifying cash flow hedging instruments (49,312 ) (19,408 ) Pension adjustments, net of tax recoveries (4,358 ) (4,329 ) (53,670 ) (23,737 )
Schedule of Accumulated Other Comprehensive Loss	As at June 30, 2020 and December 31, 2019 , the Company’s accumulated other comprehensive loss consisted of the following components: June 30, December 31, 2020 2019 $ $ Unrealized loss on qualifying cash flow hedging instruments (49,312 ) (19,408 ) Pension adjustments, net of tax recoveries (4,358 ) (4,329 ) (53,670 ) (23,737 )

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative [Line Items]
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block]	As at June 30, 2020 , the Company was committed to the following foreign currency forward contracts: Contract Amount in Foreign Currency Average Forward Rate (1) Fair Value / Carrying Amount Of Asset (Liability) $ Expected Maturity 2020 $ GBP 4,000 0.81 53 4,908 (1) Average contractual exchange rate represents the contracted amount of foreign currency one U.S. Dollar will buy. June 30, 2020 , the Company was committed to the following cross currency swaps: Fair Value / Carrying Amount of Asset / (Liability) $ Notional Notional Floating Rate Receivable Reference Rate Margin Fixed Rate Payable Remaining Term (years) 1,200,000 146,500 NIBOR 6.00% 7.72% (24,681 ) 1.3 850,000 102,000 NIBOR 4.60% 7.89% (21,498 ) 3.2 (46,179 )
Schedule of Interest Rate Derivatives [Table Text Block]	As at June 30, 2020 , 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 debts were swapped with fixed-rate obligations: Interest Rate Index Principal Amount Fair Value / Carrying Amount of Asset / (Liability) $ Weighted- Fixed Swap Rate (%) (1) LIBOR-Based Debt: U.S. Dollar-denominated interest rate swaps (2) LIBOR 847,832 (77,586 ) 4.2 3.0 EURIBOR-Based Debt: Euro-denominated interest rate swaps EURIBOR 70,220 (6,967 ) 3.2 3.9 (84,553 ) (1) Excludes the margins the Company pays on its variable-rate debt which, as of June 30, 2020 , ranged from 0.3% to 3.95% . (2) Includes interest rate swaps with the notional amount reducing quarterly or semi-annually. Three interest rate swaps are subject to mandatory early termination in 2021 and 2024, at which time the swaps will be settled based on their fair value.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following tables present 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 (1) Accrued Liabilities and Other (2) Other Long-Term Liabilities $ $ $ $ $ As at June 30, 2020 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — (63 ) (3,085 ) (11,453 ) Derivatives not designated as a cash flow hedge: Foreign currency forward contracts 53 — — — — Interest rate swap agreements — — (3,809 ) (27,130 ) (39,013 ) Cross currency swap agreements — — (872 ) (5,995 ) (39,312 ) Forward freight agreements — — — (165 ) — 53 — (4,744 ) (36,375 ) (89,778 ) Prepaid Expenses and Other Other Non-Current Assets Accrued Liabilities and Other (1) Accrued Liabilities and Other (2) Other Long-Term Liabilities $ $ $ $ $ As at December 31, 2019 Derivatives designated as a cash flow hedge: Interest rate swap agreements — — (13 ) (836 ) (3,475 ) Derivatives not designated as a cash flow hedge: Foreign currency forward contracts — — — (202 ) — Interest rate swap agreements 932 1,916 (2,948 ) (15,478 ) (29,452 ) Cross currency swap agreements — — (456 ) (22,661 ) (18,987 ) Forward freight agreements — — — (86 ) — 932 1,916 (3,417 ) (39,263 ) (51,914 ) (1) Represents accrued interest related to derivative instruments presented in accrued liabilities and other on the consolidated balance sheets (see Note 8). (2) Represents the current portion of derivative liabilities presented in accrued liabilities and other on the consolidated balance sheets (see Note 8).
Schedule of Cash Flow Hedges	For the periods indicated, the following tables present the gains (losses) on interest rate swap agreements designated and qualifying as cash flow hedges (excluding such agreements in equity-accounted investments): Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 Amount of Loss Recognized in OCI Amount of Loss Reclassified from Accumulated OCI to Interest Expense Amount of Loss Recognized in OCI Amount of Gain Reclassified from Accumulated OCI to Interest Expense (1,055) (482) (4,570) 157 Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 Amount of Loss Recognized in OCI Amount of Loss Reclassified from Accumulated OCI to Interest Expense Amount of Loss Recognized in OCI Amount of Gain Reclassified from Accumulated OCI to Interest Expense (10,226) (634) (7,402) 408
Derivative Not Designated as Hedging Instruments [Table Text Block]	Realized and unrealized (losses) 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) gains on non-designated derivatives in the unaudited consolidated statements of income (loss) as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Realized losses relating to: Interest rate swap agreements (3,879 ) (1,785 ) (6,556 ) (3,473 ) Foreign currency forward contracts — — (241 ) — Stock purchase warrants — (25,559 ) — (25,559 ) Forward freight agreements (201 ) (29 ) (250 ) (42 ) (4,080 ) (27,373 ) (7,047 ) (29,074 ) Unrealized (losses) gains relating to: Interest rate swap agreements (5,251 ) (8,195 ) (24,063 ) (14,216 ) Foreign currency forward contracts 53 (101 ) 255 (101 ) Stock purchase warrants — 24,584 — 26,900 Forward freight agreements 8 121 (78 ) 104 (5,190 ) 16,409 (23,886 ) 12,687 Total realized and unrealized losses on derivative instruments (9,270 ) (10,964 ) (30,933 ) (16,387 )
Schedule of Derivative Gains and Losses in Consolidated Statements of Financial Performance [Table Text Block]	Realized and unrealized (losses) gains from cross currency swaps are recognized in earnings and reported in foreign exchange loss in the unaudited consolidated statements of income (loss) as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Realized losses on maturity and termination of cross currency swaps (33,844 ) — (33,844 ) — Realized losses (1,430 ) (1,087 ) (3,247 ) (2,521 ) Unrealized gains (losses) 45,882 (140 ) (3,658 ) (2,060 ) Total realized and unrealized gains (losses) on cross currency swaps 10,608 (1,227 ) (40,749 ) (4,581 )

Income Tax Expense (Recovery) (

Income Tax Expense (Recovery) (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Components of Provision for Income Tax (Expense) Recovery	The components of the provision for income tax recovery (expense) are as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Current 16,408 (3,219 ) 12,622 (8,072 ) Deferred 767 (185 ) 761 (368 ) Income tax recovery (expense) 17,175 (3,404 ) 13,383 (8,440 )
Unrecognized Tax Benefits, Recorded in Other Long-Term Liabilities	Six Months Ended June 30, 2020 2019 $ $ Balance of unrecognized tax benefits as at January 1 62,958 40,556 Increases for positions related to the current year 2,947 2,106 Changes for positions taken in prior years (13,424 ) 4,121 Decrease related to statute limitations (1,480 ) — Balance of unrecognized tax benefits as at June 30 51,001 46,783

Net Income (Loss) Per Share Net

Net Income (Loss) Per Share Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Net (Loss) Income Per Share	Net Income (Loss) Per Share Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 $ $ $ $ Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted 21,723 (39,485 ) (28,082 ) (123,742 ) Weighted average number of common shares 101,107,362 100,783,496 100,997,456 100,652,685 Dilutive effect of stock-based compensation 89,021 — — — Common stock and common stock equivalents 101,196,383 100,783,496 100,997,456 100,652,685 Income (loss) per common share: - Basic 0.21 (0.39 ) (0.28 ) (1.23 ) - Diluted 0.21 (0.39 ) (0.28 ) (1.23 )

Supplementary Cash Flow Infor_2

Supplementary Cash Flow Information Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash and Cash Equivalents	Total cash, cash equivalents, restricted cash, and cash and restricted cash held for sale are as follows: June 30, 2020 December 31, 2019 June 30, 2019 December 31, 2018 $ $ $ $ Cash and cash equivalents 461,152 353,241 235,199 424,169 Restricted cash – current 16,317 56,777 50,798 40,493 Restricted cash – non-current 61,948 44,849 36,886 40,977 Assets held for sale – cash — 1,121 — — Assets held for sale – restricted cash — 337 — — 539,417 456,325 322,883 505,639

Basis of Presentation (Details)

Basis of Presentation (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2020vessel	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cost of Goods and Services Sold		$ 66,896,000	$ 103,410,000	$ 188,460,000	$ 212,193,000
Revenues		482,805,000	462,397,000	1,056,859,000	949,270,000
Vessels [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Revenues		218,309,000	200,353,000	543,104,000	431,590,000
Restatement Adjustment [Member] | Vessels [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Cost of Goods and Services Sold			4,700,000		10,400,000
Revenues			4,700,000		10,400,000
Teekay LNG
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number Of Vessels Impaired | vessel	6
Teekay Parent
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Revenues		$ 88,108,000	$ 105,817,000	$ 180,375,000	$ 205,914,000
LPG Carriers [Member] | Teekay LNG
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number Of Vessels Impaired | vessel				6
FPSO | Teekay Parent
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number Of Vessels Impaired | vessel				1
Teekay LNG and Teekay Tankers [Member] | Subsidiaries
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership percentage		50.00%		50.00%

Accounting Pronouncements (Deta

Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign exchange loss (notes 10 and 16)	$ (8,922)	$ (5,851)	$ (2,276)	$ (8,481)
Investment in and loans, net to equity-accounted investments (notes 4,12a and 13b)	1,102,386		1,102,386			$ 1,173,728
Operating lease right-of-use assets (note 6)	81,255		81,255			159,638
Net Cash Provided by (Used in) Operating Activities			(775,693)	(178,924)
Scheduled repayments of long-term debt (note 8)			240,355	$ 117,110
Accumulated other comprehensive loss (note 15)	(53,670)		(53,670)			(23,737)
Non-controlling interest	2,058,273		2,058,273			2,089,730
Accumulated deficit	(472,252)		(472,252)			(546,684)
Other long-term liabilities (notes 8 and 16)	$ 229,415		$ 229,415			$ 216,348
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investment in and loans, net to equity-accounted investments (notes 4,12a and 13b)					$ 40,000
Non-controlling interest					36,100
Net Investment in Direct Financing and Sales Type Leases					11,200
Accumulated deficit					17,200
Other long-term liabilities (notes 8 and 16)					$ 2,100

Revenue (Details)

Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 482,805,000	$ 462,397,000	$ 1,056,859,000	$ 949,270,000
Lease revenue [Member]
Disaggregation of Revenue [Line Items]
Operating Leases, Income Statement, Lease Revenue	390,407,000	359,140,000	876,590,000	747,933,000
Sales-type Lease, Interest Income, Lease Receivable	12,877,000	12,969,000	25,543,000	25,763,000
Operating Lease, Variable Lease Income	13,658,000	13,307,000	26,848,000	25,316,000
Variable Lease, Payment	0	16,320,000	5,218,000	27,152,000
Revenues	416,942,000	401,736,000	934,199,000	826,164,000
Time charters
Disaggregation of Revenue [Line Items]
Revenues	174,843,000	143,140,000	325,912,000	286,356,000
Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	218,309,000	200,353,000	543,104,000	431,590,000
Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		6,129,000		12,191,000
FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	28,787,000	57,828,000	74,720,000	107,266,000
Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	60,866,000	54,947,000	113,123,000	111,867,000
Non-lease revenue
Disaggregation of Revenue [Line Items]
Revenues	65,863,000	60,661,000	122,660,000	123,106,000
Teekay Parent
Disaggregation of Revenue [Line Items]
Revenues	88,108,000	105,817,000	180,375,000	205,914,000
Operating Segments | Teekay LNG
Disaggregation of Revenue [Line Items]
Revenues	148,205,000	153,060,000	288,092,000	302,804,000
Operating Segments | Teekay LNG | Liquefied Gas Carriers
Disaggregation of Revenue [Line Items]
Revenues	148,205,000	150,691,000	288,092,000	297,673,000
Operating Segments | Teekay LNG | Liquefied Gas Carriers | Time charters
Disaggregation of Revenue [Line Items]
Revenues	135,761,000	133,684,000	266,306,000	264,459,000
Operating Segments | Teekay LNG | Liquefied Gas Carriers | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	10,383,000	8,858,000	17,700,000	18,018,000
Operating Segments | Teekay LNG | Liquefied Gas Carriers | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		6,129,000		12,191,000
Operating Segments | Teekay LNG | Liquefied Gas Carriers | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Operating Segments | Teekay LNG | Liquefied Gas Carriers | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	2,061,000	2,020,000	4,086,000	3,005,000
Operating Segments | Teekay LNG | Conventional Tankers
Disaggregation of Revenue [Line Items]
Revenues	0	2,369,000	0	5,131,000
Operating Segments | Teekay LNG | Conventional Tankers | Time charters
Disaggregation of Revenue [Line Items]
Revenues	0	2,369,000	0	5,131,000
Operating Segments | Teekay LNG | Conventional Tankers | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay LNG | Conventional Tankers | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		0		0
Operating Segments | Teekay LNG | Conventional Tankers | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay LNG | Conventional Tankers | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Tankers [Member] | Conventional Tankers
Disaggregation of Revenue [Line Items]
Revenues	246,492,000	207,007,000	588,392,000	445,168,000
Operating Segments | Teekay Tankers [Member] | Conventional Tankers | Time charters
Disaggregation of Revenue [Line Items]
Revenues	34,986,000	1,496,000	50,553,000	4,906,000
Operating Segments | Teekay Tankers [Member] | Conventional Tankers | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	207,926,000	191,495,000	525,404,000	413,572,000
Operating Segments | Teekay Tankers [Member] | Conventional Tankers | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		0		0
Operating Segments | Teekay Tankers [Member] | Conventional Tankers | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Tankers [Member] | Conventional Tankers | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	3,580,000	14,016,000	12,435,000	26,690,000
Operating Segments | Teekay Parent
Disaggregation of Revenue [Line Items]
Revenues		47,989,000
Operating Segments | Teekay Parent | Offshore Production
Disaggregation of Revenue [Line Items]
Revenues	28,787,000	57,828,000	74,720,000	107,266,000
Operating Segments | Teekay Parent | Offshore Production | Time charters
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Parent | Offshore Production | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Parent | Offshore Production | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		0		0
Operating Segments | Teekay Parent | Offshore Production | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	28,787,000	57,828,000	74,720,000	107,266,000
Operating Segments | Teekay Parent | Offshore Production | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Parent | Teekay Parent
Disaggregation of Revenue [Line Items]
Revenues	59,321,000		105,655,000	98,648,000
Operating Segments | Teekay Parent | Teekay Parent | Time charters
Disaggregation of Revenue [Line Items]
Revenues	4,096,000	8,078,000	9,053,000	14,347,000
Operating Segments | Teekay Parent | Teekay Parent | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Parent | Teekay Parent | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		0		0
Operating Segments | Teekay Parent | Teekay Parent | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Teekay Parent | Teekay Parent | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	55,225,000	39,911,000	96,602,000	84,301,000
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	0	(3,487,000)	0	(4,616,000)
Intersegment Eliminations | Time charters
Disaggregation of Revenue [Line Items]
Revenues	0	(2,487,000)	0	(2,487,000)
Intersegment Eliminations | Voyage charters
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Intersegment Eliminations | Bareboat charters
Disaggregation of Revenue [Line Items]
Revenues		0		0
Intersegment Eliminations | FPSO contracts
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Intersegment Eliminations | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	0	(1,000,000)	0	(2,129,000)
Non-lease [Member] | Management fees and other
Disaggregation of Revenue [Line Items]
Revenues	60,866,000	54,947,000	113,123,000	111,867,000
Non-lease [Member] | Non-lease revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 4,997,000	$ 5,714,000	$ 9,537,000	$ 11,239,000

Revenue Operating Leases (Detai

Revenue Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property Subject to or Available for Operating Lease [Line Items]
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year	$ 372,600
Lessor, Operating Lease, Payments to be Received, Two Years	587,100
Lessor, Operating Lease, Payments to be Received, Three Years	447,500
Lessor, Operating Lease, Payments to be Received, Four Years	335,000
Lessor, Operating Lease, Payments to be Received, Five Years	259,300
Property, Plant and Equipment, Net	4,699,797	$ 5,033,130
Assets Leased to Others [Member]
Property Subject to or Available for Operating Lease [Line Items]
Property, Plant and Equipment, Net	3,100,000
Property, Plant and Equipment, Gross	4,000,000
Accumulated depreciation on vessels and equipment	$ 900,000

Revenue Direct Financing Leases

Revenue Direct Financing Leases (Details) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Apr. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 27, 2020USD ($)	Jan. 07, 2020USD ($)	Dec. 31, 2019USD ($)vessel
Property Subject to or Available for Operating Lease [Line Items]
Net Investment in Lease, Current		$ 14,920			$ 14,920				$ 273,986
Net investment in direct financing and sales-type leases, net – non-current (notes 3 and 13b)		540,066			540,066				$ 544,823
Gain on commencement of sales-type lease		0		$ 0	44,943	$ 0
Teekay LNG
Property Subject to or Available for Operating Lease [Line Items]
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Remainder of Fiscal Year		32,600			32,600
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Two Years		64,600			64,600
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years		64,600			64,600
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Four Years		64,400			64,400
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Five Years		64,700			64,700
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Thereafter		$ 522,300			$ 522,300
FPSO
Property Subject to or Available for Operating Lease [Line Items]
Proceeds from Lease Payments	$ 67,000
Sales-type Lease, Net Investment in Lease							$ 81,900
Asset Retirement Obligation							$ 6,100
Gain on commencement of sales-type lease			$ 44,900
WilPride And WilForce LNG Carriers [Member] | Teekay LNG
Property Subject to or Available for Operating Lease [Line Items]
Purchase Obligation And Deferred Hire Amounts								$ 260,000
Number Of Vessels | vessel									2

Revenue Contract costs, assets

Revenue Contract costs, assets and liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Contract with Customer, Asset and Liability [Abstract]
Contract with Customer, Liability, Current	$ 39,749		$ 39,749		$ 36,242
Contract with Customer, Liability	34,100	$ 27,200	34,100	$ 27,200	$ 32,400	$ 26,400
Contract with customer, liability, revenue recognized	$ 28,100	$ 20,400	$ 32,400	$ 26,400

Related Party Transactions Rela

Related Party Transactions Related Party Transactions - Narrative (Details)	May 08, 2019	May 08, 2019USD ($)	Sep. 30, 2018	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	May 08, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2018USD ($)	Jan. 01, 2018Subsidiaries
Teekay Offshore [Member]
Business Acquisition [Line Items]
Revenue from Related Parties		$ 2,300,000				$ 7,600,000
Teekay Offshore [Member] | Brookfield Business Partners L.P. [Member]
Business Acquisition [Line Items]
Percentage of ownership acquired										100.00%
Number of Subsidiaries | Subsidiaries										7
Revolving Credit Facilities
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity				$ 950,800,000			$ 950,800,000
Revolving Credit Facilities | Teekay Offshore [Member]
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity									$ 125,000,000
Revolving Credit Facilities | Teekay Offshore [Member] | Brookfield Business Partners L.P. [Member]
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity									100,000,000
Parent Company [Member] | Revolving Credit Facilities | Teekay Offshore [Member]
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity									$ 25,000,000
Technical Services [Member] | Teekay Offshore [Member]
Business Acquisition [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		3,300,000				9,600,000
Time-Charter Hire Expense [Member] | Teekay Lng Marubeni Joint Venture [Member]
Business Acquisition [Line Items]
Additional Time Period For Fixed Rate Time Charters Contract			2 years
Related Party Transaction, Expenses from Transactions with Related Party				5,400,000	$ 3,100,000		11,300,000	$ 8,700,000
Time-Charter Hire Expense [Member] | Teekay Offshore [Member]
Business Acquisition [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		$ 6,100,000				$ 20,800,000
LNG Carriers [Member] | Equity Method Investee [Member]
Business Acquisition [Line Items]
Revenue from Related Parties				$ 19,900,000	$ 16,800,000		$ 37,400,000	$ 32,600,000
Teekay Lng Marubeni Joint Venture [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage				52.00%			52.00%
General Partner [Member] | Teekay Offshore [Member]
Business Acquisition [Line Items]
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest	49.00%

Related Party Transactions Re_2

Related Party Transactions Related Party Transactions (Details) shares in Thousands

May 08, 2019USD ($)

May 08, 2019USD ($)

May 08, 2019USD ($)

Sep. 30, 2018

Jun. 30, 2020USD ($)

Jun. 30, 2019USD ($)

May 08, 2019USD ($)

Jun. 30, 2020USD ($)

Jun. 30, 2019USD ($)

May 11, 2020shares

Mar. 31, 2018USD ($)

Jan. 01, 2018Subsidiaries

Teekay Lng Marubeni Joint Venture [Member] | Time-Charter Hire Expense [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

$ 5,400,000

$ 3,100,000

$ 11,300,000

$ 8,700,000

Additional Time Period For Fixed Rate Time Charters Contract

2 years

Teekay Offshore [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

$ 2,300,000

$ 7,600,000

Teekay Offshore [Member] | Technical Services [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

3,300,000

9,600,000

Teekay Offshore [Member] | Time-Charter Hire Expense [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

6,100,000

20,800,000

LNG Carriers [Member] | Equity Method Investee [Member]

Related Party Transaction [Line Items]

Revenue from Related Parties

$ 19,900,000

$ 16,800,000

$ 37,400,000

32,600,000

Teekay Lng Marubeni Joint Venture [Member]

Related Party Transaction [Line Items]

Equity Method Investment, Ownership Percentage

52.00%

52.00%

Teekay LNG

Related Party Transaction [Line Items]

Limited Partners' Capital Account, Units Issued | shares

10,750

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent

$ 116,600,000

Teekay LNG | Retained Earnings (Accumulated Deficit)

Related Party Transaction [Line Items]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent

116,600,000

Teekay LNG | Non-controlling Interests

Related Party Transaction [Line Items]

Changes to non-controlling interest from equity contributions and other

107,600,000

Teekay LNG | AOCI Attributable to Parent [Member]

Related Party Transaction [Line Items]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent

9,000,000

Teekay Offshore [Member]

Related Party Transaction [Line Items]

Due from Affiliate, Noncurrent

$ 25,000,000

$ 25,000,000

$ 25,000,000

$ 25,000,000

Proceeds from sale of vessels and equipment (note 7)

100,000,000

Equity Method Investment, Other than Temporary Impairment

$ 64,900,000

64,900,000

Equity Method Investment, Realized Gain (Loss) on Disposal

$ 8,900,000

$ 8,900,000

Teekay Offshore [Member] | Brookfield Business Partners L.P. [Member]

Related Party Transaction [Line Items]

Percentage of ownership acquired

100.00%

Number of Subsidiaries | Subsidiaries

7

Revolving Credit Facilities

Related Party Transaction [Line Items]

Credit facility, maximum borrowing capacity

$ 950,800,000

$ 950,800,000

Revolving Credit Facilities | Teekay Offshore [Member]

Related Party Transaction [Line Items]

Credit facility, maximum borrowing capacity

$ 125,000,000

Revolving Credit Facilities | Teekay Offshore [Member] | Brookfield Business Partners L.P. [Member]

Related Party Transaction [Line Items]

Credit facility, maximum borrowing capacity

100,000,000

Parent Company [Member] | Revolving Credit Facilities | Teekay Offshore [Member]

Related Party Transaction [Line Items]

Credit facility, maximum borrowing capacity

$ 25,000,000

General Partner [Member] | Teekay Offshore [Member]

Related Party Transaction [Line Items]

Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest

49.00%

Segment Reporting - Narrative (

Segment Reporting - Narrative (Detail)	May 08, 2019USD ($)	May 08, 2019USD ($)	Jun. 30, 2020USD ($)subsidiary	Jun. 30, 2019USD ($)	May 08, 2019USD ($)	Jun. 30, 2020USD ($)subsidiarysegment	Jun. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment						3
Equity income (loss) (note 4 and 13b)			$ 35,343,000	$ (6,284,000)		$ 37,656,000	$ (67,937,000)
Teekay Offshore [Member]
Segment Reporting Information [Line Items]
Equity income (loss) (note 4 and 13b)		$ 0			$ 3,100,000
Equity Method Investment, Other than Temporary Impairment						$ 64,900,000	64,900,000
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 8,900,000						$ 8,900,000
Subsidiaries
Segment Reporting Information [Line Items]
Number of Subsidiaries | subsidiary			2			2

Segment Reporting - Revenues (D

Segment Reporting - Revenues (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 482,805,000	$ 462,397,000	$ 1,056,859,000	$ 949,270,000
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	(3,487,000)	0	(4,616,000)
Teekay LNG | Operating Segments
Segment Reporting Information [Line Items]
Revenues	148,205,000	153,060,000	288,092,000	302,804,000
Teekay LNG | Liquefied Gas Carriers | Operating Segments
Segment Reporting Information [Line Items]
Revenues	148,205,000	150,691,000	288,092,000	297,673,000
Teekay LNG | Conventional Tankers | Operating Segments
Segment Reporting Information [Line Items]
Revenues	0	2,369,000	0	5,131,000
Teekay Tankers [Member] | Conventional Tankers | Operating Segments
Segment Reporting Information [Line Items]
Revenues	246,492,000	207,007,000	588,392,000	445,168,000
Teekay Parent
Segment Reporting Information [Line Items]
Revenues	88,108,000	105,817,000	180,375,000	205,914,000
Teekay Parent | Operating Segments
Segment Reporting Information [Line Items]
Revenues		47,989,000
Teekay Parent | Offshore Production | Operating Segments
Segment Reporting Information [Line Items]
Revenues	28,787,000	57,828,000	74,720,000	107,266,000
Teekay Parent | Corporate and Other [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 59,321,000	$ 47,989,000	$ 105,655,000	$ 98,648,000

Segment Reporting - Operating I

Segment Reporting - Operating Income (Loss) (Detail) - USD ($)	May 08, 2019	May 08, 2019	Jun. 30, 2020	Jun. 30, 2019	May 08, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Equity income (loss) (note 4 and 13b)			$ 35,343,000	$ (6,284,000)		$ 37,656,000	$ (67,937,000)
Operating Income (Loss)			148,504,000	71,463,000		277,400,000	155,695,000
Teekay LNG | Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)			69,589,000	74,677,000		91,327,000	144,038,000
Teekay LNG | Liquefied Gas Carriers | Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)			69,589,000	74,244,000		91,327,000	144,687,000
Teekay LNG | Conventional Tankers | Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)			0	433,000		0	(649,000)
Teekay Tankers [Member] | Conventional Tankers | Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)			92,986,000	5,051,000		213,112,000	37,148,000
Teekay Parent
Segment Reporting Information [Line Items]
Operating Income (Loss)			(14,071,000)	(8,265,000)		(27,039,000)	(25,491,000)
Teekay Parent | Offshore Production | Operating Segments
Segment Reporting Information [Line Items]
Operating Income (Loss)			(11,540,000)	(5,987,000)		(23,808,000)	(18,544,000)
Teekay Parent | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)			$ (2,531,000)	$ (2,278,000)		(3,231,000)	(6,947,000)
Teekay Offshore [Member]
Segment Reporting Information [Line Items]
Equity income (loss) (note 4 and 13b)		$ 0			$ 3,100,000
Equity Method Investment, Other than Temporary Impairment						$ 64,900,000	64,900,000
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 8,900,000						$ 8,900,000

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Total Segment Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total assets	$ 7,345,512	$ 8,072,864
Segment Reconciling Items | Cash and cash equivalents
Segment Reporting Information [Line Items]
Total assets	461,152	353,241
Segment Reconciling Items | Other assets not allocated
Segment Reporting Information [Line Items]
Total assets	126,197	102,701
Eliminations
Segment Reporting Information [Line Items]
Total assets	(10,359)	(14,746)
Teekay LNG | Liquefied Gas Carriers | Operating Segments
Segment Reporting Information [Line Items]
Total assets	4,762,748	5,249,465
Teekay Tankers [Member] | Conventional Tankers | Operating Segments
Segment Reporting Information [Line Items]
Total assets	1,904,059	2,140,652
Teekay Parent | Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total assets	52,848	80,455
Teekay Parent | Offshore Production | Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 48,867	$ 161,096

Leases Obligations relating to

Leases Obligations relating to Finance Leases (Details) $ in Thousands	1 Months Ended	6 Months Ended		36 Months Ended
	Jul. 31, 2017	Jun. 30, 2020USD ($)vessellease	Jun. 30, 2019USD ($)	Jan. 31, 2019	Dec. 31, 2019USD ($)lease
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability		$ 1,778,530			$ 1,825,692
Proceeds from financing related to sale-leaseback of vessels		0	$ 222,400
Current obligations related to finance leases (note 6)		(97,237)			(95,339)
Long-term obligations related to finance leases (note 6)		$ 1,681,293			$ 1,730,353
Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Finance Lease, Weighted Average Discount Rate, Percent		7.60%			7.60%
Number Of Vessels Obligated to Purchase | vessel		8
Number Of Sale Leaseback Transactions | vessel		16
November 2018 Sale-leaseback Transaction [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Finance Leased Assets, Number of Units | vessel		4
Actual Hull Coverage Ratio		163.00%			158.00%
Debt Covenant Minimum Hull Coverage Ratio Year 1 & 2		100.00%
September 2018 Sale-leaseback Transaction [Member] [Domain] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Number Of Vessels | vessel		6
Debt Covenant Minimum Hull Coverage Ratio, Year 1		78.00%
Debt Covenant Minimum Hull Coverage Ratio, Years 3 and 4		80.00%
Debt Covenant Minimum Hull Coverage Ratio, Thereafter		90.00%
Actual Hull Coverage Ratio		110.00%			115.00%
Suezmax Tanker Sale Leaseback [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Number of Vessels with Purchase Option | vessel		16
July 2017 Sale Leaseback [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Number Of Vessels | vessel		4
Debt Covenant Minimum Hull Coverage Ratio, Years 1, 2 and 3		90.00%
Period Required to Maintain 90% Hull Coverage Ratio		3 years
Debt Covenant Minimum Hull Coverage Ratio, Thereafter		100.00%
Actual Hull Coverage Ratio		129.00%			122.00%
Minimum [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Sale Leaseback Transaction, Lease Terms	P9Y
Maximum | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Sale Leaseback Transaction, Lease Terms	P12Y
Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability, Payment, Due		$ 573,900
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		171,400
LNG Carriers [Member] | Teekay LNG
Obligations relating to Finance Leases [Line Items]
Sale Leaseback Transaction, Imputed Interest Rate				5.10%
LNG Carriers [Member] | Minimum [Member] | Teekay LNG
Obligations relating to Finance Leases [Line Items]
Sale Leaseback Transaction, Lease Terms				P7Y6M
LNG Carriers [Member] | Maximum | Teekay LNG
Obligations relating to Finance Leases [Line Items]
Sale Leaseback Transaction, Lease Terms				P15Y
Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability, Payments, Due Next Twelve Months		28,449
Finance Lease, Liability, Payments, Due Year Two		56,222
Finance Lease, Liability, Payments, Due Year Three		56,213
Finance Lease, Liability, Payments, Due Year Four		56,204
Finance Lease, Liability, Payments, Due Year Five		56,348
Finance Lease, Liability, Payments, Due after Year Five		$ 320,481
Suezmax Tankers [Member] | May 2019 Sale Leaseback [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Debt Covenant Minimum Hull Coverage Ratio, Year 2		78.00%
Debt Covenant Minimum Hull Coverage Ratio, Years 3 and 4		80.00%
Finance Leased Assets, Number of Units | vessel		2
Debt Covenant Minimum Hull Coverage Ratio, Thereafter		90.00%
Actual Hull Coverage Ratio		102.00%			109.00%
Debt Covenant Minimum Hull Coverage Ratio Year 1 & 2		75.00%
Sales-type lease [Member] | LNG Carriers [Member] | Teekay LNG
Obligations relating to Finance Leases [Line Items]
Number Of Vessels | lease		9			9
Finance Lease, Liability, Payment, Due		$ 1,800,000
Lessee, Operating Lease, Liability, Undiscounted Excess Amount		435,300
Finance Lease, Liability, Payments, Due Next Twelve Months		69,886
Finance Lease, Liability, Payments, Due Year Two		138,601
Finance Lease, Liability, Payments, Due Year Three		136,959
Finance Lease, Liability, Payments, Due Year Four		135,459
Finance Lease, Liability, Payments, Due Year Five		132,011
Finance Lease, Liability, Payments, Due after Year Five		1,198,366
LNG Carriers [Member] | Teekay LNG
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability		1,376,011			$ 1,410,904
Conventional Tankers [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Finance Lease, Liability		402,519			$ 414,788
Finance Lease Obligations [Member] | Suezmax, Aframax and LR2 Vessels [Member] | Teekay Tankers [Member]
Obligations relating to Finance Leases [Line Items]
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line		$ 35,000
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt		5.00%

Leases Obligations relating t_2

Leases Obligations relating to Operating leases (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)lease	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)lease	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)lease
Operating Leased Assets [Line Items]
Current portion of operating lease liabilities (notes 2 and 6)	$ (32,753)		$ (32,753)		$ (61,431)
Operating Leases, Rent Expense	17,714	$ 28,817	44,770	$ 58,655
Operating lease right-of-use assets (note 6)	81,255		81,255		159,638
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	34,900		34,900
Lessee, Operating Lease, Liability, Payments, Due Year Two	39,400		39,400
Lessee, Operating Lease, Liability, Payments, Due Year Three	20,300		20,300
Lessee, Operating Lease, Liability, Payments, Due Year Four	9,200		9,200
Lessee, Operating Lease, Liability, Payments, Due Year Five	5,700		5,700
Long-term operating lease liabilities (note 6)	40,229		40,229		$ 87,171
Shuttle Tankers [Member]
Operating Leased Assets [Line Items]
Operating lease right-of-use assets (note 6)	50,700		50,700
Operating Lease, Liability	$ 50,700		$ 50,700
Sales-type lease [Member] | LNG Carriers [Member] | Teekay LNG
Operating Leased Assets [Line Items]
Number Of Vessels | lease	9		9		9

Write-down and Loss on Sales _3

Write-down and Loss on Sales of Vessels Schedule of Impairment and Loss on Sale of Vessels, Equipment and Other Operating Assets (Detail) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2020vessel	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)vessel	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)vessel
Long Lived Assets Held-for-sale [Line Items]
Write-down and gain (loss) on sale | $		$ (10,669)	$ 0	$ (105,275)	$ (3,328)
FPSO
Long Lived Assets Held-for-sale [Line Items]
Number Of Vessels | vessel		3		3
Teekay LNG
Long Lived Assets Held-for-sale [Line Items]
Number Of Vessels Impaired | vessel	6
Teekay LNG | Multi-gas carriers [Member]
Long Lived Assets Held-for-sale [Line Items]
Number Of Vessels | vessel		7		7
Teekay LNG | Liquefied Gas Segment | LNG Carriers [Member]
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $				$ (45,000)	$ 0
Number Of Vessels Impaired | vessel				6	0
Teekay Tankers [Member] | Suezmax Tankers [Member]
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $				$ 500
Teekay Tankers [Member] | Conventional Tankers
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $			$ 0
Number Of Vessels Impaired | vessel		1	0
Teekay Tankers [Member] | Conventional Tankers | Suezmax Tankers [Member]
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $		$ 460
Teekay Tankers [Member] | Conventional Tankers | Suezmax Tankers One [Member]
Long Lived Assets Held-for-sale [Line Items]
Number Of Vessels Impaired | vessel				0	0
Teekay Tankers [Member] | Conventional Tankers | Suezmaxes Tankers Three [Member]
Long Lived Assets Held-for-sale [Line Items]
Gain (Loss) on Disposition of Assets | $				$ 2,627	$ 0
Number Of Vessels Impaired | vessel				3	0
Teekay Parent | FPSO
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $				$ (60,100)
Number Of Vessels Impaired | vessel				1
Teekay Parent | FPSO | Petrojarl Foinaven FPSO [Member]
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $				$ 0	$ (3,328)
Number Of Vessels Impaired | vessel				0	1
Teekay Parent | FPSO | FPSO
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $		$ (13,566)	$ 0	$ (60,085)	$ 0
Number Of Vessels Impaired | vessel		1	0	2	0
Ship To Ship Transfer Business [Member] | Teekay Tankers [Member] | Conventional Tankers
Long Lived Assets Held-for-sale [Line Items]
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down | $		$ (3,081)	$ 0	$ (3,081)	$ 0
Operating Right Of Use Asset [Member] | Teekay Tankers [Member] | Conventional Tankers
Long Lived Assets Held-for-sale [Line Items]
Asset Impairment Charges | $		$ (644)	$ 0	$ (644)	$ 0
Number Of Operating Lease Right of Use Assets Impaired | vessel		1	0		0

Write-down and Loss on Sales _4

Write-down and Loss on Sales of Vessels Vessel Impairment (Details) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Jul. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Mar. 31, 2020vessel	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)vessel	Jun. 30, 2020USD ($)vessel	Jun. 30, 2019USD ($)vessel
FPSO
Property, Plant and Equipment [Line Items]
Number Of Vessels | vessel				3		3
Teekay Parent | FPSO
Property, Plant and Equipment [Line Items]
Asset Impairment Charges						$ (60,100)
Number Of Vessels Impaired | vessel						1
Teekay Parent | FPSO | Petrojarl Foinaven FPSO [Member]
Property, Plant and Equipment [Line Items]
Asset Impairment Charges						$ 0	$ (3,328)
Number Of Vessels Impaired | vessel						0	1
Teekay Parent | FPSO | FPSO
Property, Plant and Equipment [Line Items]
Asset Impairment Charges				$ (13,566)	$ 0	$ (60,085)	$ 0
Number Of Vessels Impaired | vessel				1	0	2	0
Teekay LNG
Property, Plant and Equipment [Line Items]
Number Of Vessels Impaired | vessel			6
Teekay LNG | Multi-gas carriers [Member]
Property, Plant and Equipment [Line Items]
Number Of Vessels | vessel				7		7
Teekay LNG | Liquefied Gas Segment | LNG Carriers [Member]
Property, Plant and Equipment [Line Items]
Asset Impairment Charges						$ (45,000)	$ 0
Number Of Vessels Impaired | vessel						6	0
Teekay Tankers [Member] | Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Asset Impairment Charges						$ 500
Impairment Charge on Reclassified Assets				$ (500)
Number of Vessels Held for Sale | vessel			1
Teekay Tankers [Member] | Conventional Tankers
Property, Plant and Equipment [Line Items]
Asset Impairment Charges					$ 0
Number Of Vessels Impaired | vessel				1	0
Teekay Tankers [Member] | Conventional Tankers | Suezmaxes Tankers Three [Member]
Property, Plant and Equipment [Line Items]
Number Of Vessels Impaired | vessel						3	0
Teekay Tankers [Member] | Conventional Tankers | Suezmax Tankers [Member]
Property, Plant and Equipment [Line Items]
Asset Impairment Charges				$ 460
Impairment Charge on Reclassified Assets						$ 0	$ 0
Ship To Ship Transfer Business [Member] | Teekay Tankers [Member] | Conventional Tankers
Property, Plant and Equipment [Line Items]
Proceeds from Divestiture of Businesses		$ 14,300		27,100
Proceeds From Divestiture of Business Adjustment				1,100
Ship To Ship Transfer Business [Member] | Subsequent Event | Teekay Tankers [Member] | Conventional Tankers
Property, Plant and Equipment [Line Items]
Proceeds from Divestiture of Businesses	$ 12,700
Operating Right Of Use Asset [Member] | Teekay Tankers [Member] | Conventional Tankers
Property, Plant and Equipment [Line Items]
Asset Impairment Charges				$ (644)	$ 0	$ (644)	$ 0

Accrued Liabilities and Other_3

Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilities and Other and Other Long-Term Liabilities - Schedule of Accrued liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Voyage And Vessel Accrued Liabilities Current	$ 109,925	$ 121,937
Interest Payable, Current	25,079	29,371
Employee-related Liabilities, Current	39,298	33,494
Other Accrued Liabilities	6,425	6,487
Contract with Customer, Liability, Current	39,749	36,242
Liabilities of Business Transferred under Contractual Arrangement, Current	0	5,933
Derivative Liability, Current	36,375	39,263
Current portion of operating lease liabilities (note 6)	32,753	61,431
Due to Affiliate, Current	25,442	18,647
Asset Retirement Obligation, Current	19,000	0
Accrued Liabilities and Other Liabilities	303,947	295,001
Office Building [Member]
Current portion of operating lease liabilities (note 6)	$ 2,654	$ 3,627

Accrued Liabilities and Other_4

Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilities and Other and Other Long-Term Liabilities - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Contract with Customer, Liability, Noncurrent	$ 26,222	$ 28,612
Guarantee Liability Non Current	12,053	10,113
Asset Retirement Obligations, Noncurrent	39,565	31,068
Liability, Defined Benefit Pension Plan, Noncurrent	7,512	7,238
Liabilities of Business Transferred under Contractual Arrangement, Noncurrent	0	11,866
Derivative Liability, Noncurrent	89,778	51,914
Unrecognized tax benefits and deferred tax liabilities noncurrent	41,188	62,958
Long-term operating lease liabilities (note 6)	40,229	87,171
Other Sundry Liabilities, Noncurrent	3,081	2,325
Other long-term liabilities (notes 8 and 16)	229,415	216,348
Office Building [Member]
Long-term operating lease liabilities (note 6)	$ 10,016	$ 10,254

Accrued Liabilities and Other_5

Accrued Liabilities and Other and Other Long-Term Liabilities Accrued Liabilities and Other and Other Long-Term Liabilities - Asset Retirement Obligations (Details) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Asset Retirement Obligation, Current		$ 19,000	$ 0
Asset Retirement Obligations, Noncurrent		39,565	31,068
Sales-type Lease, Carrying Value of Leased Asset		2,187,047	$ 2,219,026
Petrojarl Banff FPSO [Member]
Asset Retirement Obligation		52,100
Asset Retirement Obligation, Current		19,000
Asset Retirement Obligations, Noncurrent		33,100
Asset Retirement Obligation Costs Recoverable		8,100
Petrojarl Foinaven FPSO [Member]
Asset Retirement Obligation		6,300
Proceeds from Lease Payments	$ 67,000
Sales-type Lease, Carrying Value of Leased Asset		$ 15,200

Short-Term Debt (Details)

Short-Term Debt (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Nov. 30, 2018
Short-term Debt [Line Items]
Short-term Debt	$ 10,000,000	$ 50,000,000
Teekay Tankers [Member]
Short-term Debt [Line Items]
Short-term Debt	$ 10,000,000	$ 50,000,000
Short-term Debt, Weighted Average Interest Rate, at Point in Time	3.70%	5.00%
Teekay Tankers [Member] | Short-term Debt [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 80,000,000	$ 40,000,000
Debt Instrument, Term	6 months
Teekay Tankers [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Short Term Debt, Interest Rate, Stated Percentage	3.50%
RSA [Member] | Teekay Tankers [Member] | Minimum [Member]
Short-term Debt [Line Items]
Capital	$ 20,000,000
RSA [Member] | Teekay Tankers [Member] | Maximum
Short-term Debt [Line Items]
Capital	$ 30,000,000

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) $ / shares in Units, € in Millions, shares in Millions	Jan. 31, 2018USD ($)	Nov. 30, 2015USD ($)	Jun. 30, 2020USD ($)subsidiarysharesvesselSecurityLoanterm_loan	Jun. 30, 2020NOK (kr)subsidiarysharesvesselSecurityLoanterm_loan	Jun. 30, 2020EUR (€)subsidiarysharesvesselSecurityLoanterm_loan	Dec. 31, 2019USD ($)vessel	Dec. 31, 2019NOK (kr)vessel	Dec. 31, 2019EUR (€)vessel	May 31, 2019USD ($)	Jan. 26, 2018USD ($)$ / shares	Jan. 27, 2010USD ($)
Debt Instrument [Line Items]
Long-term Debt, Weighted Average Interest Rate, at Point in Time			3.70%	3.70%	3.70%	4.60%	4.60%	4.60%
Total principal			$ 2,265,986,000			$ 2,867,120,000
Less unamortized discount and debt issuance costs			(40,499,000)			(39,968,000)
Total debt			2,225,487,000			2,827,152,000
Less current portion			(322,831,000)			(523,312,000)
Long-term portion			1,902,656,000			2,303,840,000
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year			83,100,000
Long-term Debt, Maturities, Repayments of Principal in Year Two			416,400,000
Long-term Debt, Maturities, Repayments of Principal in Year Three			634,400,000
Long-term Debt, Maturities, Repayments of Principal in Year Four			402,900,000
Long-term Debt, Maturities, Repayments of Principal in Year Five			303,400,000
Long-term Debt, Maturities, Repayments of Principal after Year Five			$ 425,800,000
Number Of Loan Agreements | SecurityLoan			4	4	4
Secured Debt [Member]
Debt Instrument [Line Items]
Total principal			$ 1,000,000,000			$ 1,300,000,000
Number Of Debt Instruments | term_loan			6
Number Of Debt Instruments With Balloon Or Bullet Payments | term_loan			5	5	5
Number Of Vessels Held As Collateral | vessel			20	20	20	24	24	24
Senior Notes (8.5%) due January 15, 2020
Debt Instrument [Line Items]
Percentage Of Par At Which Notes Sold		99.00%
Long-term debt, percentage bearing fixed interest, percentage rate		8.50%	8.50%	8.50%	8.50%	8.50%	8.50%	8.50%			8.50%
Total principal			$ 0			$ 36,712,000
Debt instrument, principal amount		$ 200,000,000									$ 450,000,000
Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate			9.25%	9.25%	9.25%	9.25%	9.25%	9.25%	9.25%
Total principal			$ 250,000,000			$ 250,000,000
Debt instrument, principal amount									$ 250,000,000
Convertible Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate			5.00%	5.00%	5.00%	5.00%	5.00%	5.00%
Total principal			$ 125,000,000			$ 125,000,000
Norwegian Krone-denominated Bonds due through August 2023
Debt Instrument [Line Items]
Total principal			212,985,000			347,163,000
U.S. Dollar-denominated Term Loans due through 2030
Debt Instrument [Line Items]
Total principal			1,002,761,000			1,336,437,000
Euro-denominated Term Loans due through 2024
Debt Instrument [Line Items]
Total principal			153,200,000			165,376,000
Other U.S. Dollar-denominated loan
Debt Instrument [Line Items]
Total principal			446,000			3,300,000
Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			950,800,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 429,200,000
Number Of Credit Facilities | term_loan			4	4	4
Line Of Credit Reduction Of Available Borrowing Capacity In Year Four			$ 65,300,000
Total principal			521,594,000			603,132,000
Line Of Credit Reduction Of Available Borrowing Capacity Remainder Of Fiscal Year			157,600,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Two			115,800,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Three			$ 410,800,000
Debt Instrument, Collateral, Number of Vessels | vessel			33	33	33
Revolving Credit Facilities | Secured Debt [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 150,000,000
Remaining Term Loans [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.47%	4.47%	4.47%
Term Loan One [Member]
Debt Instrument [Line Items]
Minimum Level Of Free Cash Maintained Per Loan Agreements			$ 100,000,000
Convertible Senior Notes due 2023 [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Ratio	85.4701
Debt Instrument, Convertible, If-converted Value in Excess of Principal	$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares										$ 11.70
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	20.00%
Sale of Stock, Price Per Share | $ / shares										$ 9.75
Minimum [Member]
Debt Instrument [Line Items]
Undrawn Revolving Credit Facilities Time To Maturity			6 months
Minimum [Member] | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.40%
Minimum [Member] | Term Loan One [Member]
Debt Instrument [Line Items]
Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt			7.50%	7.50%	7.50%
Maximum | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.95%
Teekay LNG
Debt Instrument [Line Items]
Minimum Level Of Free Cash Maintained Per Loan Agreements			$ 35,000,000
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Total debt			$ 153,200,000		€ 136.4	165,400,000		€ 147.5
Debt Instrument, Collateral, Number of Vessels | vessel			2	2	2
Number Of Debt Instruments | term_loan			2
Number of Subsidiaries | subsidiary			1	1	1
Teekay LNG | Common Class A [Member] | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt Collateral, Equity Interest in Subsidiaries, Number of Common Shares/Units | shares			25.2	25.2	25.2
Teekay LNG | Minimum [Member] | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.60%
Teekay LNG | Maximum | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			1.95%
Teekay Tankers [Member] | 2016 Debt Facility [Member]
Debt Instrument [Line Items]
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line			$ 35,000,000
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt			5.00%	5.00%	5.00%
Teekay Tankers [Member] | Common Class A [Member] | Revolving Credit Facilities
Debt Instrument [Line Items]
Debt Collateral, Equity Interest in Subsidiaries, Number of Common Shares/Units | shares			5	5	5
Teekay Tankers [Member] | Minimum [Member] | 2016 Debt Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Term			6 months
Parent Company [Member] | Convertible Senior Notes due 2023 [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Proceeds from Convertible Debt	$ 104,600,000
Debt instrument, principal amount										$ 125,000,000
Debt Instrument, Interest Rate, Stated Percentage										5.00%
Debt Instrument, Convertible Term	5 years
Debt Instrument, Convertible, Carrying Amount of Equity Component										$ 16,100,000
Nibor Loan [Member] | Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount | kr				kr 2,100,000,000
Unsecured Debt | kr				kr 2,100,000,000			kr 3,100,000,000
Senior Notes			$ 213,000,000			$ 347,200,000
Derivative, Notional Amount			$ 248,500,000
Nibor Loan [Member] | Teekay LNG | Minimum [Member] | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			4.60%
Derivative, Fixed Interest Rate			7.72%	7.72%	7.72%
Nibor Loan [Member] | Teekay LNG | Maximum | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			6.00%
Derivative, Fixed Interest Rate			7.89%	7.89%	7.89%
Fixed Rate [Member] | Remaining Term Loans [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Number Of Debt Instruments | term_loan			2
Three Month London Interbank Offered Rate [Member] | Minimum [Member] | Remaining Term Loans [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			0.30%
Three Month London Interbank Offered Rate [Member] | Maximum | Remaining Term Loans [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.25%
Debt Instrument, Redemption, Period One [Member] | Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			100.00%
Debt Instrument, Redemption, Period Two [Member] | Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			104.625%
Debt Instrument, Redemption, Period Three [Member] | Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			102.313%
Debt Instrument, Redemption, Period Four [Member] | Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			100.00%
Transportation Equipment [Member] | Long Term Debt1 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio			379.00%	379.00%	379.00%
Vessel Market Value to Loan Required Ratio			125.00%	125.00%	125.00%
Transportation Equipment [Member] | Long Term Debt2 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio			218.00%	218.00%	218.00%
Vessel Market Value to Loan Required Ratio			115.00%	115.00%	115.00%
Transportation Equipment [Member] | Long Term Debt3 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio			138.00%	138.00%	138.00%
Vessel Market Value to Loan Required Ratio			120.00%	120.00%	120.00%
Transportation Equipment [Member] | Long Term Debt4 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio			192.00%	192.00%	192.00%
Vessel Market Value to Loan Required Ratio			135.00%	135.00%	135.00%

Long-Term Debt Long-Term Debt N

Long-Term Debt Long-Term Debt Narrative (Details) $ / shares in Units, € in Millions	Jan. 31, 2018USD ($)	Jan. 31, 2020USD ($)	Nov. 30, 2015USD ($)	Jun. 30, 2020USD ($)subsidiaryvesselSecurityLoanterm_loan	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)subsidiaryvesselSecurityLoanterm_loan	Jun. 30, 2019USD ($)	Jun. 30, 2020NOK (kr)subsidiaryvesselSecurityLoanterm_loan	Jun. 30, 2020EUR (€)subsidiaryvesselSecurityLoanterm_loan	Dec. 31, 2019USD ($)vessel	Dec. 31, 2019NOK (kr)vessel	Dec. 31, 2019EUR (€)vessel	May 31, 2019USD ($)	Mar. 31, 2018USD ($)	Jan. 26, 2018USD ($)$ / shares	Jan. 27, 2010USD ($)
Debt Instrument [Line Items]
Long-term Debt, Maturities, Repayments of Principal after Year Five				$ 425,800,000		$ 425,800,000
Long-term debt, gross				2,265,986,000		2,265,986,000				$ 2,867,120,000
Long-term Debt				2,225,487,000		2,225,487,000				$ 2,827,152,000
Foreign exchange loss (notes 10 and 16)				$ (8,922,000)	$ (5,851,000)	$ (2,276,000)	$ (8,481,000)
Long-term Debt, Weighted Average Interest Rate, at Point in Time				3.70%		3.70%		3.70%	3.70%	4.60%	4.60%	4.60%
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year				$ 83,100,000		$ 83,100,000
Long-term Debt, Maturities, Repayments of Principal in Year Two				416,400,000		416,400,000
Long-term Debt, Maturities, Repayments of Principal in Year Three				634,400,000		634,400,000
Long-term Debt, Maturities, Repayments of Principal in Year Four				402,900,000		402,900,000
Long-term Debt, Maturities, Repayments of Principal in Year Five				$ 303,400,000		$ 303,400,000
Number Of Loan Agreements | SecurityLoan				4		4		4	4
Minimum [Member]
Debt Instrument [Line Items]
Undrawn Revolving Credit Facilities Time To Maturity						6 months
Term Loan One [Member]
Debt Instrument [Line Items]
Minimum Level Of Free Cash Maintained Per Loan Agreements				$ 100,000,000		$ 100,000,000
Term Loan One [Member] | Minimum [Member]
Debt Instrument [Line Items]
Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt				7.50%		7.50%		7.50%	7.50%
Secured Debt [Member]
Debt Instrument [Line Items]
Number Of Debt Instruments | term_loan						6
Long-term debt, gross				$ 1,000,000,000		$ 1,000,000,000				$ 1,300,000,000
Number Of Debt Instruments With Balloon Or Bullet Payments | term_loan				5		5		5	5
Number Of Vessels Held As Collateral | vessel				20		20		20	20	24	24	24
Secured Debt [Member] | Remaining Term Loans [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.47%		4.47%		4.47%	4.47%
Secured Debt [Member] | Remaining Term Loans [Member] | Fixed Rate [Member]
Debt Instrument [Line Items]
Number Of Debt Instruments | term_loan						2
Secured Debt [Member] | Remaining Term Loans [Member] | Three Month London Interbank Offered Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						0.30%
Secured Debt [Member] | Remaining Term Loans [Member] | Three Month London Interbank Offered Rate [Member] | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						3.25%
Senior Notes (8.5%) due January 15, 2020
Debt Instrument [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate			8.50%	8.50%		8.50%		8.50%	8.50%	8.50%	8.50%	8.50%				8.50%
Debt instrument, principal amount			$ 200,000,000													$ 450,000,000
Percentage Of Par At Which Notes Sold			99.00%
Repayments of Senior Debt		$ 613,300,000
Long-term debt, gross				$ 0		$ 0				$ 36,712,000
Senior Notes (8.5%) due January 15, 2020 | US Treasury (UST) Interest Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						5000.00%
Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate				9.25%		9.25%		9.25%	9.25%	9.25%	9.25%	9.25%	9.25%
Debt instrument, principal amount													$ 250,000,000
Long-term debt, gross				$ 250,000,000		$ 250,000,000				$ 250,000,000
Convertible Debt [Member] | Convertible Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Ratio	85.4701
Debt Instrument, Convertible, If-converted Value in Excess of Principal	$ 1,000
Debt Instrument, Convertible, Conversion Price | $ / shares															$ 11.70
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	20.00%
Sale of Stock, Price Per Share | $ / shares															$ 9.75
Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				950,800,000		950,800,000
Line of Credit Facility, Remaining Borrowing Capacity				429,200,000		429,200,000
Line Of Credit Reduction Of Available Borrowing Capacity Remainder Of Fiscal Year				157,600,000		157,600,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Two				115,800,000		115,800,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Three				410,800,000		410,800,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Four				65,300,000		65,300,000
Line Of Credit Reduction Of Available Borrowing Capacity In Year Five				$ 201,300,000		$ 201,300,000
Debt Instrument, Collateral, Number of Vessels | vessel				33		33		33	33
Long-term debt, gross				$ 521,594,000		$ 521,594,000				603,132,000
Number Of Credit Facilities | term_loan				4		4		4	4
Revolving Credit Facilities | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.40%
Revolving Credit Facilities | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						3.95%
Revolving Credit Facilities | Secured Debt [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 150,000,000		$ 150,000,000
Teekay Offshore [Member] | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity														$ 125,000,000
Teekay LNG
Debt Instrument [Line Items]
Minimum Level Of Free Cash Maintained Per Loan Agreements				35,000,000		35,000,000
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount | kr								kr 2,100,000,000
Unsecured Debt | kr								kr 2,100,000,000			kr 3,100,000,000
Senior Notes				$ 213,000,000		$ 213,000,000				347,200,000
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						4.60%
Derivative, Fixed Interest Rate				7.72%		7.72%		7.72%	7.72%
Teekay LNG | Norwegian Kroner Denominated Bonds Due Through October Two Thousand Twenty One [Member] [Member] | Nibor Loan [Member] | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						6.00%
Derivative, Fixed Interest Rate				7.89%		7.89%		7.89%	7.89%
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel				2		2		2	2
Number Of Debt Instruments | term_loan						2
Long-term Debt				$ 153,200,000		$ 153,200,000			€ 136.4	$ 165,400,000		€ 147.5
Number of Subsidiaries | subsidiary				1		1		1	1
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						0.60%
Teekay LNG | Euro Denominated Term Loans Due Through Two Thousand Twenty Three [Member] | Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.95%
Teekay Tankers [Member] | 2016 Debt Facility [Member]
Debt Instrument [Line Items]
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line				$ 35,000,000		$ 35,000,000
Debt Covenant Minimum Free Liquidity And Undrawn Revolving Credit Line As Percentage Of Debt				5.00%		5.00%		5.00%	5.00%
Teekay Tankers [Member] | 2016 Debt Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Term						6 months
Teekay Tankers [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Long-term Line of Credit				$ 86,700,000		$ 86,700,000
Parent Company [Member] | Convertible Debt [Member] | Convertible Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount															$ 125,000,000
Debt Instrument, Interest Rate, Stated Percentage															5.00%
Proceeds from Convertible Debt	$ 104,600,000
Debt Instrument, Convertible Term	5 years
Debt Instrument, Convertible, Carrying Amount of Equity Component															$ 16,100,000
Parent Company [Member] | Teekay Offshore [Member] | Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity														$ 25,000,000
FPSO
Debt Instrument [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel				2		2		2	2
Number Of Vessels | vessel				3		3		3	3
Transportation Equipment [Member] | Long Term Debt1 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio				379.00%		379.00%		379.00%	379.00%
Vessel Market Value to Loan Required Ratio				125.00%		125.00%		125.00%	125.00%
Transportation Equipment [Member] | Long Term Debt2 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio				218.00%		218.00%		218.00%	218.00%
Vessel Market Value to Loan Required Ratio				115.00%		115.00%		115.00%	115.00%
Transportation Equipment [Member] | Long Term Debt3 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio				138.00%		138.00%		138.00%	138.00%
Vessel Market Value to Loan Required Ratio				120.00%		120.00%		120.00%	120.00%
Transportation Equipment [Member] | Long Term Debt4 [Member]
Debt Instrument [Line Items]
Vessel Market Value To Loan Ratio				192.00%		192.00%		192.00%	192.00%
Vessel Market Value to Loan Required Ratio				135.00%		135.00%		135.00%	135.00%

Capital Stock - Capital Stock (

Capital Stock - Capital Stock (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended
	Apr. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
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)		$ 1	$ 1
Common stock, share authorized (in shares)		725,000,000	725,000,000
Common stock, par value (in usd per share)		$ 0.001	$ 0.001
Preferred stock, share issued (in shares)		0
Common Stock, Shares, Issued		100,784,683	100,784,422
Continuous Offering Program [Member]
Class of Stock [Line Items]
Sale of Stock, Offering Amount	$ 63
Common Stock, Shares, Issued		0

Vessels Under Construction (Det

Vessels Under Construction (Detail) - USD ($) $ in Thousands	1 Months Ended
	Jun. 30, 2019	Jun. 30, 2020
Teekay LNG
Long-term Purchase Commitment [Line Items]
Estimated remaining payments required to be made under newbuilding contract remainder of 2018		$ 15,409
Estimated remaining payments required to be made under newbuilding contract in 2019		22,917
Unrecorded Unconditional Purchase Obligation, Due within Three Years		14,651
Total		52,977
Consolidated Entities [Member] | Teekay LNG
Long-term Purchase Commitment [Line Items]
Estimated remaining payments required to be made under newbuilding contract remainder of 2018		4,058
Estimated remaining payments required to be made under newbuilding contract in 2019		22,917
Unrecorded Unconditional Purchase Obligation, Due within Three Years		14,651
Total		41,626
Equipment [Member] | Teekay LNG
Long-term Purchase Commitment [Line Items]
Expected cost of project	$ 58,100
Total		41,600
Equity Method Investments [Member] | Teekay LNG
Long-term Purchase Commitment [Line Items]
Estimated remaining payments required to be made under newbuilding contract remainder of 2018		11,351
Estimated remaining payments required to be made under newbuilding contract in 2019		0
Unrecorded Unconditional Purchase Obligation, Due within Three Years		0
Total		$ 11,351
Bahrain LNG Joint Venture [Member]
Long-term Purchase Commitment [Line Items]
Equity Method Investment, Ownership Percentage		30.00%
Bahrain LNG Joint Venture [Member] | Lng Receiving and Regasification Terminal [Member]
Long-term Purchase Commitment [Line Items]
Credit facility, maximum borrowing capacity		$ 24,000
Line of Credit Facility, Remaining Borrowing Capacity		7,000
Bahrain LNG Joint Venture [Member] | Construction [Member]
Long-term Purchase Commitment [Line Items]
Total		$ 11,400

Liquidity (Details)

Liquidity (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Net income (loss)	$ 125,500	$ 52,002	$ (34,111)	$ (61,464)	$ 177,502	$ (95,575)
Net Cash Provided by (Used in) Operating Activities					775,693	$ 178,924
Working capital deficit	$ 93,600				$ 93,600

Commitments and Contingencies O

Commitments and Contingencies Other (Details) $ in Billions	Jun. 30, 2020USD ($)
Teekay LNG
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 1.4

Financial Instruments Fair Valu

Financial Instruments Fair Value of Financial Instruments and Other Non-Financial Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents	$ 539,417	$ 456,325	$ 322,883	$ 505,639
Forward freight agreements	36,375	39,263
Vessels held for sale	0	65,458
Operating lease right-of-use assets	81,255	159,638
Other (2)
Short-term Debt	10,000	50,000
Long-term debt	(2,225,487)	(2,827,152)
Obligations related to finance leases, including current portion (note 6)	1,778,530	1,825,692
Swap
Other (2)
Accrued liabilities, fair value disclosure	4,700	3,400
Carrying Amount Asset (Liability) | Level 1 | Public
Other (2)
Long-term debt	(452,037)	(619,794)
Carrying Amount Asset (Liability) | Level 2 | Non-public
Other (2)
Short-term Debt	10,000	50,000
Long-term debt	(1,773,450)	(2,207,358)
Obligations related to finance leases, including current portion (note 6)	1,778,530	1,825,692
Carrying Amount Asset (Liability) | Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents	539,417	454,867
Carrying Amount Asset (Liability) | Recurring | Level 2 | Interest rate swap agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements – assets	0	3,099
Interest rate swap agreements – liabilities	(84,553)	(52,453)
Carrying Amount Asset (Liability) | Recurring | Level 2 | Cross currency interest swap agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreements – liabilities	(46,179)	(42,104)
Carrying Amount Asset (Liability) | Recurring | Level 2 | Foreign currency contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts	53	(202)
Carrying Amount Asset (Liability) | Recurring | Level 2 | Forward freight agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Forward freight agreements	(165)	(86)
Carrying Amount Asset (Liability) | Non-recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels held for sale	0	37,240
Operating lease right-of-use assets	10,758
Fair Value Asset (Liability) | Level 1 | Public
Other (2)
Long-term Debt, Fair Value	455,874	655,977
Fair Value Asset (Liability) | Level 2 | Non-public
Other (2)
Short-term Debt, Fair Value	9,991	50,000
Long-term debt		(2,180,440)
Long-term Debt, Fair Value	1,755,063
Obligations related to finance leases, including current portion (note 6)	1,940,059	1,877,558
Fair Value Asset (Liability) | Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, cash equivalents, restricted cash and restricted cash equivalents	539,417	454,867
Fair Value Asset (Liability) | Recurring | Level 2 | Interest rate swap agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swap agreements – assets	0	3,099
Interest rate swap agreements – liabilities	(84,553)	(52,453)
Fair Value Asset (Liability) | Recurring | Level 2 | Cross currency interest swap agreement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cross currency interest swap agreements – liabilities	(46,179)	(42,104)
Fair Value Asset (Liability) | Recurring | Level 2 | Foreign currency contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Foreign currency contracts	53	(202)
Fair Value Asset (Liability) | Recurring | Level 2 | Forward freight agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Forward freight agreements	(165)	(86)
Fair Value Asset (Liability) | Non-recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Vessels held for sale	0	$ 37,240
Operating lease right-of-use assets	10,758
Ship To Ship Transfer Business [Member] | Conventional Tankers
Other (2)
Accounts Receivable, Fair Value Disclosure	$ 12,800

Financial Instruments Financing

Financial Instruments Financing Receivables (Detail) $ in Thousands	Jun. 30, 2020USD ($)SecurityLoanjoint_venturelease
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	$ 15,160
Financing Receivable, Originated Two Years before Latest Fiscal Year	213,041
Financing Receivable, Originated Four Years before Latest Fiscal Year	73,375
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	390,571
Financing Receivable, before Allowance for Credit Loss	692,147
Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Net Investment in Lease, Originated in Current Fiscal Year	15,160
Net Investment in Lease, Originated Two Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Four Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Five or More Years before Latest Fiscal Year	0
Net Investment in Lease	$ 15,160
Teekay Parent
Financing Receivable, Credit Quality Indicator [Line Items]
Number of direct financing and sales-type leases | lease	1
Teekay LNG
Financing Receivable, Credit Quality Indicator [Line Items]
Number of direct financing and sales-type leases | lease	3
Number of loans to equity-accounted joint ventures | SecurityLoan	2
Number of equity-accounted joint ventures | joint_venture	5
Sales-Type or Direct Financing [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Net Investment in Lease, Originated in Current Fiscal Year	$ 0
Net Investment in Lease, Originated Two Years before Latest Fiscal Year	213,041
Net Investment in Lease, Originated Four Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Five or More Years before Latest Fiscal Year	338,305
Net Investment in Lease	551,346
Sales-Type or Direct Financing [Member] | Teekay Tangguh Joint Venture [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Net Investment in Lease, Originated in Current Fiscal Year	0
Net Investment in Lease, Originated Two Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Four Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Five or More Years before Latest Fiscal Year	338,305
Net Investment in Lease	338,305
Sales-Type or Direct Financing [Member] | Bahrain LNG Joint Venture [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Net Investment in Lease, Originated in Current Fiscal Year	0
Net Investment in Lease, Originated Two Years before Latest Fiscal Year	213,041
Net Investment in Lease, Originated Four Years before Latest Fiscal Year	0
Net Investment in Lease, Originated Five or More Years before Latest Fiscal Year	0
Net Investment in Lease	213,041
Loans Receivable [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	73,375
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	52,266
Financing Receivable, before Allowance for Credit Loss	125,641
Exmar Lpg Bvba [Member] | Loans Receivable [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	0
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	52,266
Financing Receivable, before Allowance for Credit Loss	52,266
Bahrain LNG Joint Venture [Member] | Loans Receivable [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Originated in Current Fiscal Year	0
Financing Receivable, Originated Two Years before Latest Fiscal Year	0
Financing Receivable, Originated Four Years before Latest Fiscal Year	73,375
Financing Receivable, Originated Five or More Years before Latest Fiscal Year	0
Financing Receivable, before Allowance for Credit Loss	$ 73,375
FSU [Member] | Teekay LNG
Financing Receivable, Credit Quality Indicator [Line Items]
Number Of Vessels | lease	1
Sales-Type or Direct Financing [Member] | LNG Carriers [Member] | Teekay LNG
Financing Receivable, Credit Quality Indicator [Line Items]
Number Of Vessels | lease	18

Financial Instruments Allowance

Financial Instruments Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Jan. 01, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Net Investment in Lease, Allowance for Credit Loss	$ 11,520	$ 11,055	$ 11,520	$ 11,155
Net Investment in Lease, Credit Loss Expense (Reversal)	465	(100)
Financing Receivable, Credit Loss, Expense (Reversal)	(163)	8,880
Financing Receivable, Allowance for Credit Loss	62,017	62,180	62,017	53,300
Loans Receivable [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts and Financing Receivable, Allowance for Credit Loss	3,797	3,714	3,797	3,714
Financing Receivable, Credit Loss, Expense (Reversal)	83	0
Financial Guarantee [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Off-Balance Sheet, Credit Loss, Liability	1,851	2,139	1,851	2,139
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	(288)	0
Equity Method Investments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Net Investment in Lease, Allowance for Credit Loss	44,849	45,272	44,849	$ 36,292
Net Investment in Lease, Credit Loss Expense (Reversal)	(423)	$ 8,980
Teekay LNG | Loans and Finance Receivables [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for Loan, Lease, and Other Losses	300		200
Teekay LNG | Equity Method Investments [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Net Investment in Lease, Credit Loss Expense (Reversal)	$ 400		$ 8,600

Restructuring Reversals (Char_2

Restructuring Reversals (Charges) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring charges (note 14)	$ (4,622)	$ (1,369)	$ (7,010)	$ (9,990)
Restructuring liability	$ 5,800		$ 5,800		$ 800

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (53,670)		$ (23,737)
Unrealized loss on qualifying cash flow hedging instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(49,312)		(19,408)
Pension adjustments, net of tax recoveries
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(4,358)		(4,329)
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (53,670)	$ (41,682)	$ (23,737)	$ (21,143)	$ (11,124)	$ (2,273)

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities Derivatives and Hedging Activities - FX Forwards (Details) $ in Thousands	Jun. 30, 2020USD ($)£ / $
Derivative [Line Items]
Derivative, Average Forward Exchange Rate | £ / $	0.81
Investment Owned, Foreign Currency Contract, Current Value	$ 4,000
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	53
Expected Maturity Amount Of Foreign Currency Derivatives In Remainder Of Fiscal Year	$ 4,908

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Commitment of Cross Currency Swaps (Detail) - Cross Currency Interest Rate Contract [Member] kr in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020NOK (kr)
Derivative [Line Items]
Fair Value / Carrying Amount of Asset / (Liability)	$ (46,179)
NIBOR | Six Point Zero Margin [Member]
Derivative [Line Items]
Receivable Margin	6.00%	6.00%
Derivative, Fixed Interest Rate	7.72%	7.72%
Fair Value / Carrying Amount of Asset / (Liability)	$ (24,681)
Remaining Term (years)	1 year 3 months 18 days
Derivative, Notional Amount	$ 146,500	kr 1,200,000
NIBOR | 4.60%
Derivative [Line Items]
Receivable Margin	4.60%	4.60%
Derivative, Fixed Interest Rate	7.89%	7.89%
Fair Value / Carrying Amount of Asset / (Liability)	$ (21,498)
Remaining Term (years)	3 years 2 months 12 days
Derivative, Notional Amount	$ 102,000	kr 850,000

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Detail) - Interest rate swap agreements $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)interest_rate_swaps
Derivative [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ (84,553)
Derivative, Number of Instruments Held | interest_rate_swaps	3
LIBOR
Derivative [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ (77,586)
Weighted-Average Remaining Term (Years)	4 years 2 months 12 days
Derivative, Fixed Interest Rate	3.00%
Derivative, Notional Amount	$ 847,832
EURIBOR
Derivative [Line Items]
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ (6,967)
Weighted-Average Remaining Term (Years)	3 years 2 months 12 days
Derivative, Fixed Interest Rate	3.90%
Derivative, Notional Amount	$ 70,220
Minimum [Member]
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.30%
Maximum
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3.95%

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities Stock Purchase Warrants (Details) - Teekay Offshore [Member]	May 08, 2019shares
Series D Warrant
Derivative [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,755,000
Brookfield Business Partners L.P. [Member] | Warrant [Member]
Derivative [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	15,500,000

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities - Location and Fair Value Amounts of Derivative Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	$ 71,398	$ 86,338
Other Long-Term Liabilities	(89,778)	(51,914)
Fair Value, Concentration of Credit Risk, Master Netting Arrangements [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	100
Derivative liability, fair value, gross liability	104,800
Derivatives not designated as a cash flow hedge | Forward freight agreements
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other		0
Other Non-Current Assets		0
Accrued Liabilities and Other (1)		0
Accrued Liabilities and Other (2)		(86)
Other Long-Term Liabilities		0
Derivative
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	53	932
Other Non-Current Assets	0	1,916
Accrued Liabilities and Other (1)	(4,744)	(3,417)
Accrued Liabilities and Other (2)	(36,375)	(39,263)
Other Long-Term Liabilities	(89,778)	(51,914)
Derivative | Derivatives designated as a cash flow hedge | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0	0
Other Non-Current Assets	0	0
Accrued Liabilities and Other (1)	(63)	(13)
Accrued Liabilities and Other (2)	(3,085)	(836)
Other Long-Term Liabilities	(11,453)	(3,475)
Derivative | Derivatives not designated as a cash flow hedge | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0	932
Other Non-Current Assets	0	1,916
Accrued Liabilities and Other (1)	(3,809)	(2,948)
Accrued Liabilities and Other (2)	(27,130)	(15,478)
Other Long-Term Liabilities	(39,013)	(29,452)
Derivative | Derivatives not designated as a cash flow hedge | Foreign Currency Contracts
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	53
Other Non-Current Assets	0
Accrued Liabilities and Other (1)	0
Accrued Liabilities and Other (2)	0
Other Long-Term Liabilities	0
Derivative | Derivatives not designated as a cash flow hedge | Foreign Exchange Forward [Member]
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other		0
Other Non-Current Assets		0
Accrued Liabilities and Other (1)		0
Accrued Liabilities and Other (2)		(202)
Other Long-Term Liabilities		0
Derivative | 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	0	0
Accrued Liabilities and Other (1)	(872)	(456)
Accrued Liabilities and Other (2)	(5,995)	(22,661)
Other Long-Term Liabilities	(39,312)	$ (18,987)
Derivative | Derivatives not designated as a cash flow hedge | Forward freight agreements
Derivatives, Fair Value [Line Items]
Prepaid Expenses and Other	0
Other Non-Current Assets	0
Accrued Liabilities and Other (1)	0
Accrued Liabilities and Other (2)	(165)
Other Long-Term Liabilities	0
Swap
Derivatives, Fair Value [Line Items]
Restricted Cash and Cash Equivalents	$ 23,300

Derivative Instruments and He_8

Derivative Instruments and Hedging Activities - Effective Portion of Gains (Losses) on Interest Rate Swap Agreements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative [Line Items]
Unrealized loss on qualifying cash flow hedging instruments	$ (11,082)	$ (30,743)	$ (68,634)	$ (52,252)
Interest Expense
Derivative [Line Items]
Effective Portion Recognized in AOCI	(1,055)		(10,226)
Effective Portion Reclassified from AOCI	$ (482)		$ (634)
Unrealized loss on qualifying cash flow hedging instruments		(4,570)		(7,402)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net		$ 157		$ (408)

Derivative Instruments and He_9

Derivative Instruments and Hedging Activities - Effect of Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Realized losses relating to
Derivative instruments not designated as hedging instruments realized (loss) gain net	$ (4,080)	$ (27,373)	$ (7,047)	$ (29,074)
Unrealized (losses) gains relating to
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	(5,190)	16,409	(23,886)	12,687
Total realized and unrealized gains (losses) on derivative instruments	(9,270)	(10,964)	(30,933)	(16,387)
Interest rate swap agreements
Realized losses relating to
Derivative instruments not designated as hedging instruments realized (loss) gain net	(3,879)	(1,785)	(6,556)	(3,473)
Unrealized (losses) gains relating to
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	(5,251)	(8,195)	(24,063)	(14,216)
Foreign currency forward contracts
Realized losses relating to
Derivative instruments not designated as hedging instruments realized (loss) gain net	0	0	(241)	0
Unrealized (losses) gains relating to
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	53	(101)	255	(101)
Stock purchase warrants
Realized losses relating to
Derivative instruments not designated as hedging instruments realized (loss) gain net	0	(25,559)	0	(25,559)
Unrealized (losses) gains relating to
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	0	24,584	0	26,900
Forward freight agreements
Realized losses relating to
Derivative instruments not designated as hedging instruments realized (loss) gain net	(201)	(29)	(250)	(42)
Unrealized (losses) gains relating to
Derivative instruments not designated as hedging instruments unrealized gain (loss) net	$ 8	$ 121	$ (78)	$ 104

Derivative Instruments and H_10

Derivative Instruments and Hedging Activities - Effect of Gains (Losses) on Cross Currency Swaps (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total realized and unrealized gains (losses) on derivative instruments	$ (9,270)	$ (10,964)	$ (30,933)	$ (16,387)
Cross Currency Interest Rate Contract Maturity And Partial Termination
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses	(33,844)	0	(33,844)	0
Cross Currency Interest Rate Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses	(1,430)	(1,087)	(3,247)	(2,521)
Unrealized gains (losses)	45,882	(140)	(3,658)	(2,060)
Total realized and unrealized gains (losses) on derivative instruments	$ 10,608	$ (1,227)	$ (40,749)	$ (4,581)

Income Tax Expense (Recovery)

Income Tax Expense (Recovery) - Components of Provision for Income Tax (Expense) Recovery (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Current	$ 16,408	$ (3,219)	$ 12,622	$ (8,072)
Deferred	767	(185)	761	(368)
Income tax recovery (expense)	$ 17,175	$ (3,404)	$ 13,383	$ (8,440)

Income Tax Expense (Recovery)_2

Income Tax Expense (Recovery) - Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 62,958	$ 40,556
Increases for positions related to the current year	2,947	2,106
Increase for positions taken in prior periods		4,121
Decrease for positions taken in prior periods	13,424
Decrease related to statute limitations	1,480	0
Ending balance	$ 51,001	$ 46,783

Income Tax Expense (Recovery)_3

Income Tax Expense (Recovery) (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)
Income Tax Contingency [Line Items]
Freight tax liability, Decrease Resulting from Settlements with Taxing Authorities	$ 16.6
Settlement with Taxing Authority [Member]
Income Tax Contingency [Line Items]
Freight tax liability, current	$ 9.8

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to the shareholders of Teekay Corporation – basic and diluted	$ 21,723	$ (39,485)	$ (28,082)	$ (123,742)
Weighted Average Number of Shares Outstanding, Basic	101,107,362	100,783,496	100,997,456	100,652,685
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	89,021	0	0	0
Common stock and common stock equivalents (in shares)	101,196,383	100,783,496	100,997,456	100,652,685
Income (loss) per common share:
Earnings Per Share, Basic	$ 0.21	$ (0.39)	$ (0.28)	$ (1.23)
Earnings Per Share, Diluted	$ 0.21	$ (0.39)	$ (0.28)	$ (1.23)

Net Income (Loss) Per Share N_2

Net Income (Loss) Per Share Net Income (Loss) Per Share - Additional Information (Detail) - shares shares in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Anti-dilutive effect on calculation of diluted loss per common share attributable to outstanding stock-based awards (in shares)	6	6.1

Supplementary Cash Flow Infor_3

Supplementary Cash Flow Information Supplemental Cashflow Information - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 461,152	$ 353,241	$ 235,199	$ 424,169
Restricted cash – current	16,317	56,777	50,798	40,493
Restricted cash – non-current	61,948	44,849	36,886	40,977
Cash, cash equivalents, restricted cash and restricted cash equivalents	539,417	456,325	322,883	505,639
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	0	1,121	0	0
Restricted Cash [Member]
Cash and Cash Equivalents [Line Items]
Restricted Cash and Cash Equivalents	$ 0	$ 337	$ 0	$ 0

Supplementary Cash Flow Infor_4

Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Extinguishment of Debt [Line Items]
Operating lease right-of-use assets		$ 81,255	$ 159,638
Vessels [Member]
Extinguishment of Debt [Line Items]
Operating lease right-of-use assets		50,700
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability		$ 50,700
Teekay LNG | Toledo Spirit [Member] | Obligations [Member]
Extinguishment of Debt [Line Items]
Extinguishment of Debt, Amount	$ 23,600

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands, kr in Billions	Aug. 20, 2020USD ($)	Aug. 20, 2020NOK (kr)	Aug. 01, 2020USD ($)vessel	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Long-term Debt				$ 2,225,487	$ 2,827,152
Teekay LNG | Unsecured Debt [Member] | Subsequent Event
Subsequent Event [Line Items]
Unsecured Debt | kr		kr 1
Derivative, Fixed Interest Rate	5.74%	5.74%
Teekay Tankers [Member] | Subsequent Event
Subsequent Event [Line Items]
Long-term Debt			$ 67,400
Teekay Tankers [Member] | Secured Debt [Member] | Subsequent Event
Subsequent Event [Line Items]
Debt Instrument, Collateral, Number of Vessels | vessel			4
United States of America, Dollars | Teekay LNG | Unsecured Debt [Member] | Subsequent Event
Subsequent Event [Line Items]
Unsecured Debt	$ 112,000