Teekay Tankers Ltd
(NYSE:TNK)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore Ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and vari...

Website: http://www.teekay.com/business/tankers

Founded: 2007

Full Time Employees: 2,200

Sector: Energy

Industry: Oil & Gas Midstream

Transportation

Share this website to your friends

• Market Cap:

• Exchange:

• Shs Outstanding:

• Employees:

• Beta:

• Return on Equity (ROE) ttm:

• Return on Assets (ROA) ttm:

• EPS ttm:

• Book value per Share:

• Cash per Share:

• Current ast per Share:

• P/E ttm:

• P/E forward:

• P/E ttm high:

• P/E ttm low:

• P/S ttm:

• P/B ttm:

• P/FCF ttm:

• PEG ratio:

• Cash Ratio ttm:

• Quick Ratio ttm:

• Current Ratio ttm:

• Gross Mgn ttm:

• EBITDA Mgn ttm:

• Operating Mgn ttm:

• Net Income Mgn ttm:

• Trailing Div yield:

• Forward Div yield:

• Payout Ratio ttm:

• Ex-Dividend date:

• Target Price High:

• Target Price Low:

• Target Price Mean:

• Number of Analysts:

• Debt Ratio ttm:

• Debt to Equity ttm:

• Total Net Debt:

At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2025-10-29	2025-09-30	2025-07-30	2025-06-30	2025-05-07	2025-03-31	2025-02-19	2024-12-31	2024-10-30	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-05-13	2021-03-31	2020-12-31	2020-11-12	2020-09-30	2020-08-13	2020-06-30	2020-05-21	2020-03-31	2020-02-27	2019-12-31	2019-11-13	2019-09-30	2019-08-01	2019-06-30	2019-05-23	2019-03-31	2019-02-21	2018-12-31	2018-11-15	2018-09-30	2018-08-02	2018-06-30	2018-03-31	2018-02-22	2017-12-31	2017-10-25	2017-09-30	2017-06-30	2017-05-18	2017-03-31	2017-02-24	2016-12-31	2016-11-03	2016-09-30	2016-08-04	2016-06-30	2016-05-19	2016-03-31	2016-02-18	2015-12-31	2015-11-05	2015-09-30	2015-08-06	2015-06-30	2015-05-14	2015-03-31	2015-02-19	2014-12-31	2014-11-06	2014-09-30	2014-08-07	2014-06-30	2014-05-15	2014-03-31	2014-02-20	2013-12-31	2013-11-07	2013-09-30	2013-08-08	2013-06-30	2013-05-31	2013-05-09	2013-02-21	2012-12-31	2012-11-08	2012-09-30	2012-08-09	2012-06-30	2012-05-25	2012-03-31	2011-12-31	2011-11-10	2011-09-30	2011-08-16	2011-06-30	2011-05-13	2011-03-31	2011-02-28	2011-02-03	2010-12-31	2010-11-12	2010-09-30	2010-09-29	2010-08-11	2010-06-30	2010-03-31	2010-03-05	2009-12-31	2009-09-30	2009-07-23	2009-06-30	2009-05-15	2009-03-31	2008-12-31	2008-11-25	2008-09-30	2008-06-30	2008-03-31	2007-12-31

voyage charter revenues	189,163,000	189,163,000	186,703,000	186,703,000	192,643,000	192,643,000	218,383,000	218,383,000	231,665,000	231,665,000	287,974,000	328,941,000	302,003,000	274,774,000	359,966,000	384,744,000	363,350,000	276,081,000	235,080,000	164,751,000	152,618,000	107,079,000	113,998,000	112,201,000	112,201,000	90,581,000	125,819,000	125,819,000	207,926,000	207,926,000	317,478,000	317,478,000	283,757,000	305,347,000	173,034,000	173,034,000	186,805,000	186,805,000	216,417,000	216,417,000	219,371,000	219,371,000	152,047,000	152,047,000	144,328,000	144,328,000	135,642,000	30,893,000			25,397,000	30,140,000	39,344,000	20,549,000	30,282,000	30,282,000	23,176,000	5,502,000	16,025,000	7,297,000	20,549,000	7,528,000	20,956,000	20,956,000	5,502,000	5,502,000	7,297,000	7,297,000	7,528,000	7,528,000	1,826,000	1,826,000	1,836,000	1,836,000	3,382,000	3,382,000	996,000	996,000																																							851,000
time-charter revenues	2,085,000	2,085,000	4,550,000	4,550,000	6,314,000	6,314,000	7,560,000	7,560,000	8,184,000	8,184,000	5,048,000	5,123,000	8,025,000	8,119,000	7,995,000	7,010,000	1,705,000	1,656,000	5,102,000	6,275,000	4,712,000	6,097,000	7,065,000	28,285,000	28,285,000	34,865,000	42,180,000	42,180,000	34,986,000	34,986,000	15,567,000	15,567,000	10,580,000	1,693,750	1,909,000	1,909,000	1,456,000	1,456,000	3,410,000	3,410,000	8,039,000	12,955,000	12,326,000	12,326,000	17,384,000	17,384,000	22,110,000	26,998,000			24,681,000			22,987,000																							21,482,000		20,832,000	16,872,000	20,600,000		22,710,000			24,178,000	27,339,000	24,006,250	28,356,000		32,032,000		17,509,000
other revenues	37,775,000	37,775,000	41,613,000	41,613,000	32,682,000	32,682,000	32,408,000	125,182,000	3,429,000	3,429,000	3,568,000	4,279,000	3,263,000	2,965,000	2,685,000	2,903,000	2,263,000	1,649,000	2,207,000	2,992,000	2,978,000	2,714,000	2,357,000	2,263,000	2,263,000	2,356,000	2,241,000	2,241,000	3,580,000	3,580,000	8,855,000	8,855,000	9,548,000	10,768,000	7,361,000	7,361,000	14,016,000	14,016,000	12,674,000	12,674,000	12,314,000	12,387,000	11,542,000	11,542,000	9,947,000	9,947,000	10,713,000	11,374,000			12,914,000	15,458,000	9,970,000	10,608,000	9,063,000	9,063,000	8,995,000	8,538,000	10,529,000	-879,000	10,608,000	5,324,000	13,969,000	13,969,000	8,538,000	8,538,000	-879,000	-879,000	5,324,000	5,324,000
total revenues	229,023,000	229,023,000	232,866,000	232,866,000	231,639,000	231,639,000	258,351,000	351,125,000	243,278,000	243,278,000	296,590,000	338,343,000	313,291,000	285,858,000	370,646,000	394,657,000	367,318,000	279,386,000	242,389,000	174,018,000	160,308,000	115,890,000	123,420,000	142,749,000	142,749,000	127,802,000	170,240,000	170,240,000	246,492,000	246,492,000	341,900,000	341,900,000	303,885,000	326,835,000	182,304,000	182,304,000	202,277,000	202,277,000	232,501,000	232,501,000	239,724,000	239,724,000	175,915,000	175,915,000	171,659,000	171,659,000	168,465,000	105,229,000		25,412,000	91,238,000	108,789,000	125,096,000	164,950,000	117,704,000	117,704,000	104,621,000	126,401,000	139,621,000	111,283,000	164,950,000	107,523,000	168,986,000	177,352,000	125,369,000	125,369,000	107,594,000	107,594,000	103,878,000	103,878,000	75,931,000	75,931,000	53,470,000	53,470,000	44,433,000	44,433,000	61,759,000	61,759,000	42,163,000	42,163,000	39,479,000	39,479,000	43,492,000	43,492,000	54,812,000	44,953,000				46,084,000		51,040,000		31,876,000			29,695,000		31,427,000		39,084,000		96,864,000			30,345,000	113,303,000		31,917,000	26,990,000		25,951,000	21,899,000		31,005,000		33,492,000			41,543,000	36,282,000
yoy	-1.13%	-1.13%	-9.86%	-33.68%	-4.78%	-4.78%	-12.89%	3.78%	-22.35%	-14.90%	-19.98%	-14.27%	-14.71%	2.32%	52.91%	126.79%	129.13%	141.08%	96.39%	21.90%	12.30%	-9.32%	-27.50%	-16.15%	-42.09%	-48.15%	-50.21%	-50.21%	-18.89%	-24.58%	87.54%	87.54%	50.23%	61.58%	-21.59%	-21.59%	-15.62%	-15.62%	32.17%	32.17%	39.65%	39.65%	4.42%	67.17%		575.50%	84.64%	-3.27%		-84.59%	-22.49%	-7.57%	19.57%	30.50%	-15.70%	5.77%	-36.57%	17.56%	-17.38%	-37.25%	31.57%	-14.23%	57.06%	64.83%	20.69%	20.69%	41.70%	41.70%	94.27%	94.27%	70.89%	70.89%	-13.42%	-13.42%	5.38%	5.38%	56.44%	56.44%	-3.06%	-3.06%	-27.97%	-12.18%				-2.45%				44.57%							-24.02%		-67.56%				-14.51%			12.43%			45.75%				-34.61%				-7.69%
qoq	0.00%	-1.65%	0.00%	0.53%	0.00%	-10.34%	-26.42%	44.33%	0.00%	-17.97%	-12.34%	8.00%	9.60%	-22.88%	-6.08%	7.44%	31.47%	15.26%	39.29%	8.55%	38.33%	-6.10%	-13.54%	0.00%	11.70%	-24.93%	0.00%	-30.93%	0.00%	-27.91%	0.00%	12.51%	-7.02%	79.28%	0.00%	-9.87%	0.00%	-13.00%	0.00%	-3.01%	0.00%	36.27%	0.00%	2.48%	0.00%	1.90%	60.09%			-72.15%	-16.13%	-13.04%	-24.16%	40.14%	0.00%	12.51%	-17.23%	-9.47%	25.46%	-32.54%	53.41%	-36.37%	-4.72%	41.46%	0.00%	16.52%	0.00%	3.58%	0.00%	36.81%	0.00%	42.01%	0.00%	20.34%	0.00%	-28.05%	0.00%	46.48%	0.00%	6.80%	0.00%	-9.23%	0.00%	-20.65%	21.93%																					-73.22%			18.25%			18.50%								14.50%
voyage expenses	-82,708,000	-82,708,000	-78,638,000	-78,638,000	-86,867,000	-86,867,000	-94,934,000	-94,934,000	-93,984,000	-93,984,000	-100,097,000	-116,531,000	-118,828,000	-113,274,000	-118,082,000	-124,187,000	-131,989,000	-135,013,000	-126,980,000	-101,622,000	-95,968,000	-78,335,000	-71,773,000	-69,045,000	-69,045,000	-58,649,000	-57,777,000	-57,777,000	-61,558,000	-61,558,000	-119,241,000	-119,241,000	-102,831,000	-124,561,000	-87,726,000	-87,726,000	-92,668,000	-92,668,000	-97,339,000	-97,339,000	-110,602,000	-110,602,000	-83,048,000	-83,048,000	-86,933,000	-86,933,000	-79,993,000	-20,443,000		-504,000	-18,303,000	-19,430,000	-24,447,000	-12,823,000	-17,727,000	-17,727,000	-14,933,000	-2,653,000	-9,758,000	-3,613,000	-12,823,000	-3,898,000	-9,652,000	-9,849,000	-2,588,000	-2,588,000	-3,545,000	-3,545,000	-3,834,000	-3,834,000	-2,061,000	-2,061,000	-2,872,000	-2,872,000	3,612,000	3,612,000	1,439,000	1,439,000	2,492,000	2,492,000	483,000	483,000	2,449,000	2,449,000	1,322,000	2,913,000	1,017,000	768,000	2,172,000	2,172,000	107,000	107,000	779,000	779,000	809,000	729,000	729,000	549,000	549,000	610,000	799,000	545,000	1,950,000	594,000	398,000	398,000	3,106,000	784,000	784,000	1,012,000	724,000	724,000	1,288,000	855,000	514,000	855,000	107,000		618,000	187,000	709,000	96,000
vessel operating expenses	-61,031,000	-61,031,000	-60,499,000	-60,499,000	-61,168,000	-61,168,000	-65,731,000	-147,172,000	-38,091,000	-38,091,000	-38,356,000	-37,495,000	-36,612,000	-36,366,000	-37,800,000	-38,182,000	-36,209,000	-35,983,000	-39,255,000	-39,001,000	-40,095,000	-39,103,000	-43,129,000	-43,048,000	-43,048,000	-41,030,000	-46,336,000	-46,336,000	-46,218,000	-46,218,000	-50,649,000	-50,649,000	-51,875,000	-51,875,000	-48,539,000	-48,539,000	-53,600,000	-53,600,000	-54,587,000	-54,587,000	-51,323,000	-51,323,000	-52,161,000	-52,161,000	-52,652,000	-52,652,000	-52,995,000	-43,440,000		-14,447,000	-40,958,000	-46,853,000	-44,138,000	-45,073,000	-46,353,000	-46,353,000	-44,783,000	-35,267,000	-46,389,000	-27,846,000	-45,073,000	-23,972,000	-50,079,000	-54,948,000	-33,574,000	-33,574,000	-26,201,000	-26,201,000	-22,441,000	-22,441,000	-23,708,000	-23,708,000	-22,935,000	-22,935,000	23,585,000	23,585,000	22,794,000	22,794,000	21,922,000	21,922,000	21,859,000	21,859,000	24,832,000	24,832,000	23,221,000	23,054,000	23,615,000	4,211,000	23,529,000	23,529,000	20,922,000	20,922,000	10,570,000	10,570,000	10,694,000	10,908,000	10,908,000	10,852,000	10,852,000	9,602,000	11,903,000	11,383,000	29,240,000	15,213,000	9,392,000	9,392,000	33,221,000	9,239,000	9,239,000	8,391,000	9,244,000	9,244,000	7,677,000	9,004,000	7,911,000	9,004,000	6,705,000		7,669,000	7,755,000	7,650,000	5,580,000
charter hire expenses	-9,690,000	-9,690,000	-11,618,000	-11,618,000	-14,409,000	-14,409,000	-17,144,000
depreciation and amortization	-20,932,000	-20,932,000	-20,944,000	-20,944,000	-23,240,000	-23,240,000	-24,446,000	-24,446,000	-23,445,000	-23,445,000	-22,373,000	-23,318,000	-24,627,000	-24,565,000	-24,384,000	-23,975,000	-24,459,000	-24,251,000	-25,243,000	-25,080,000	-26,668,000	-25,837,000	-26,895,000	-26,684,000	-26,684,000	-28,042,000	-29,992,000	-29,992,000	-29,546,000	-29,546,000	-29,632,000	-29,632,000	-31,943,000	-31,943,000	-31,536,000	-31,536,000	-30,658,000	-30,658,000	-29,865,000	-29,865,000	-29,916,000	-29,916,000	-29,595,000	-29,595,000	-29,573,000	-29,573,000	-29,430,000	-26,829,000		-8,742,000	-24,328,000	-24,415,000	-24,909,000	-27,067,000	-25,573,000	-25,573,000	-25,888,000	-17,878,000	-25,621,000	-16,012,000	-27,067,000	-14,456,000	-25,414,000	-27,462,000	-17,399,000	-17,399,000	-15,227,000	-15,227,000	-13,672,000	-13,672,000	-12,774,000	-12,774,000	-12,451,000	-12,451,000	12,425,000	12,425,000	12,502,000	12,502,000	12,113,000	12,113,000	11,935,000	11,935,000	11,921,000	11,921,000	17,991,000	11,864,000	18,431,000	4,934,000	17,896,000	17,896,000	18,047,000	18,047,000	10,738,000	10,738,000	10,811,000	10,797,000	10,797,000	10,793,000	10,793,000	10,784,000	11,634,000	11,222,000	29,591,000	15,864,000	9,722,000	9,722,000	28,660,000	9,781,000	9,781,000	7,392,000	7,493,000	7,493,000	6,906,000	5,917,000	7,230,000	5,917,000	5,644,000		5,430,000	5,823,000	5,559,000	3,489,000
general and administrative expenses	-11,146,000	-11,146,000	-14,505,000	-14,505,000	-9,712,000	-9,712,000	-9,734,000	-7,926,000	-10,876,000	-10,876,000	-13,959,000	-13,843,000	-10,849,000	-10,700,000	-12,118,000	-12,269,000	-10,942,000	-9,687,000	-11,020,000	-10,120,000	-9,470,000	-10,542,000	-12,233,000	-11,470,000	-11,470,000	-10,049,000	-9,887,000	-9,887,000	-9,784,000	-9,784,000	-9,286,000	-9,286,000	-8,992,000	-8,992,000	-8,739,000	-8,739,000	-9,508,000	-9,508,000	-9,165,000	-9,165,000	-11,836,000	-11,836,000	-8,747,000	-8,747,000	-9,407,000	-9,407,000	-9,785,000	-8,004,000		-2,817,000	-7,622,000	-8,365,000	-4,536,000	-5,433,000	-4,437,000	-4,437,000	-3,572,000	-4,310,000	-4,769,000	-3,211,000	-5,433,000	-3,471,000	-6,362,000	-6,877,000	-4,138,000	-4,138,000					-2,714,000	-2,311,250	-2,890,000																																															3,394,000	1,670,000
gain on sale and write-down of assets	25,890,000	25,890,000	13,895,000	13,895,000	38,163,000	38,163,000	26,479,000
restructuring charges			-5,568,000	-5,568,000				320,000	-5,952,000	-5,952,000						-1,248,000	-1,409,000		-413,000																									-213,000		-982,000												-327,000		879,000		-5,324,000		-1,193,000	-327,000	-327,000	879,000	879,000
income from operations	69,406,000	69,406,000	54,989,000	54,989,000	74,406,000	74,406,000	72,841,000	86,302,000	52,465,000	52,465,000	102,135,000	139,241,000	112,913,000	81,575,000	159,571,000	181,851,000	154,275,000	75,372,000	34,078,000	-7,776,000	-21,324,000	-41,494,000	-119,434,000	-11,843,000	-11,843,000	-42,346,000	-29,193,000	-29,193,000	92,986,000	92,986,000	120,126,000	120,126,000	90,388,000	91,608,000	-4,873,000	-4,873,000	5,051,000	5,051,000	32,097,000	32,097,000	31,206,000	31,206,000	-2,166,000	-2,166,000	-13,415,000	-13,415,000	-8,421,000	2,822,000			-13,734,000	1,587,000	9,012,000	53,838,000	5,660,000	5,660,000	-3,793,000	44,584,000	30,751,000	44,687,000	53,838,000	41,399,000	56,530,000	58,485,000	44,743,000	44,743,000	43,668,000	43,668,000	40,304,000	40,304,000	20,987,000	20,987,000	6,013,000	6,013,000	10,491,000	10,491,000	20,780,000	20,780,000	17,171,000	17,171,000	-9,730,000	-9,730,000	-5,534,000	-5,534,000	9,279,000	1,504,000	-354,748,000	-361,260,000	-1,644,000	-1,644,000	6,918,000	6,918,000	6,042,000	6,042,000	1,499,000	-9,586,000	-9,586,000	7,102,000	7,102,000	8,079,000	11,822,000	5,143,000		6,960,000	7,150,000	7,150,000
yoy	-6.72%	-6.72%	-24.51%	-36.28%	41.82%	41.82%	-28.68%	-38.02%	-53.54%	-35.68%	-35.99%	-23.43%	-26.81%	8.23%	368.25%	-2438.62%	-823.48%	-281.65%	-128.53%	-34.34%	80.06%	-2.01%	309.12%	-59.43%	-112.74%	-145.54%	-124.30%	-124.30%	2.87%	1.50%	-2565.13%	-2565.13%	1689.51%	1713.66%	-115.18%	-115.18%	-83.81%	-83.81%	-1581.86%	-1581.86%	-332.62%	-332.62%	-74.28%	-176.75%			-38.69%	77.82%			-342.65%	-71.96%	-337.60%	20.76%	-81.59%	-87.33%	-107.05%	7.69%	-45.60%	-23.59%	20.33%	-7.47%	29.45%	33.93%	11.01%	11.01%	108.07%	108.07%	570.28%	570.28%	100.05%	100.05%	-71.06%	-71.06%	-38.90%	-38.90%	-313.57%	-313.57%	-410.28%	-410.28%	-204.86%	-746.94%	-98.44%	-98.47%	-664.42%	-191.48%	-5227.90%	-5322.03%	-127.21%	-127.21%	361.51%	-172.17%	-163.03%	-14.93%	-78.89%	-218.65%	-181.09%	38.09%		16.08%	65.34%	-28.07%
qoq	0.00%	26.22%	0.00%	-26.10%	0.00%	2.15%	-15.60%	64.49%	0.00%	-48.63%	-26.65%	23.32%	38.42%	-48.88%	-12.25%	17.87%	104.68%	121.17%	-538.25%	-63.53%	-48.61%	-65.26%	908.48%	0.00%	-72.03%	45.06%	0.00%	-131.40%	0.00%	-22.59%	0.00%	32.90%	-1.33%	-1979.91%	0.00%	-196.48%	0.00%	-84.26%	0.00%	2.86%	0.00%	-1540.72%	0.00%	-83.85%	0.00%	59.30%	-398.41%				-965.41%	-82.39%	-83.26%	851.20%	0.00%	-249.22%	-108.51%	44.98%	-31.19%	-17.00%	30.05%	-26.77%	-3.34%	30.71%	0.00%	2.46%	0.00%	8.35%	0.00%	92.04%	0.00%	249.03%	0.00%	-42.68%	0.00%	-49.51%	0.00%	21.02%	0.00%	-276.47%	0.00%	75.82%	0.00%	-159.64%	516.95%	-100.42%	-1.80%	21874.45%	0.00%	-123.76%	0.00%	14.50%	0.00%	303.07%	-115.64%	0.00%	-234.98%	0.00%	-12.09%	-31.66%	129.87%			-2.66%	0.00%
operating margin %	30.31%	30.31%	23.61%	23.61%	32.12%	32.12%	28.19%	24.58%	21.57%	21.57%	34.44%	41.15%	36.04%	28.54%	43.05%	46.08%	42.00%	26.98%	14.06%	-4.47%	-13.30%	-35.80%	-96.77%	-8.30%	-8.30%	-33.13%	-17.15%	-17.15%	37.72%	37.72%	35.13%	35.13%	29.74%	28.03%	-2.67%	-2.67%	2.50%	2.50%	13.81%	13.81%	13.02%	13.02%	-1.23%	-1.23%	-7.81%	-7.81%	-5.00%	2.68%	NaN%	0%	-15.05%	1.46%	7.20%	32.64%	4.81%	4.81%	-3.63%	35.27%	22.02%	40.16%	32.64%	38.50%	33.45%	32.98%	35.69%	35.69%	40.59%	40.59%	38.80%	38.80%	27.64%	27.64%	11.25%	11.25%	23.61%	23.61%	33.65%	33.65%	40.73%	40.73%	-24.65%	-24.65%	-12.72%	-12.72%	16.93%	3.35%	-Infinity%	-Infinity%	-Infinity%	-3.57%	Infinity%	13.55%	Infinity%	18.95%	Infinity%	-Infinity%	-32.28%	Infinity%	22.60%	Infinity%	30.25%	Infinity%	0%	Infinity%	Infinity%	23.56%	0%	NaN%	0%	0%	NaN%	0%	0%	NaN%	0%	NaN%	0%	NaN%	NaN%	0%	0%	NaN%
interest expense	-789,000	-789,000	-777,000	-777,000	-773,000	-773,000	-798,000	-802,000	-825,000	-825,000	-979,000	-4,866,000	-4,141,000	-6,440,000	-5,907,000	-11,218,000	-9,666,000	-9,024,000	-8,888,000	-8,162,000	-7,081,000	-8,583,000	-9,299,000	-10,068,000	-10,068,000	-10,345,000	-12,553,000	-12,553,000	-13,492,000	-13,492,000	-15,135,000	-15,135,000	-15,679,000	-15,679,000	-16,134,000	-16,134,000	-16,607,000	-16,607,000	-16,942,000	-16,942,000	-16,987,000	-16,987,000	-15,006,000	-15,006,000	-13,931,000	-13,931,000	-12,729,000	-9,613,000		-4,506,000	-7,299,000	-7,076,000	-7,306,000	-8,271,000	-7,363,000	-7,363,000	-6,809,000	-4,008,000	-7,341,000	-3,181,000	-8,271,000	-2,470,000	-7,730,000	-8,046,000	-3,903,000	-3,903,000	-3,075,000	-3,075,000	-2,365,000	-2,365,000	-2,078,000	-2,078,000	-2,042,000	-2,042,000	-2,274,000	-2,274,000	-2,347,000	-2,347,000	-2,468,000	-2,468,000	-2,440,000	-2,440,000	-2,604,000	-2,604,000	-7,561,000	-2,511,000	-2,840,000	8,818,000	-2,954,000	-2,954,000	-6,654,000	-6,654,000	-1,239,000	-1,239,000	-1,229,000	-740,000	-740,000	-1,041,000	-1,041,000	-1,175,000	-1,946,000	-1,668,000	-4,919,000	-2,594,000	-1,653,000	-1,653,000	-7,012,000	-1,607,000	-1,607,000	-993,000	-1,155,000	-1,155,000	-1,155,000	-2,883,000	-2,114,000	-17,400,000	-4,138,000			-4,888,000		-2,206,000
interest income	7,569,000	7,569,000	7,568,000	7,568,000	5,857,000	5,857,000	6,189,000	7,104,000	5,772,000	5,772,000	5,726,000	5,474,000	3,058,000	3,119,000	1,771,000	2,230,000	920,000	216,000	167,000	35,000	34,000	29,000	29,000	30,000	30,000	39,000	337,000	337,000	567,000	567,000	256,000	256,000	147,000	147,000	138,000	138,000	221,000	221,000	365,000	365,000	311,000	311,000	250,000	250,000	160,000	160,000	158,000	163,000		83,000	305,000	360,000	79,000	26,000	47,000	47,000	18,000	28,000	26,000	8,000	26,000	31,000	40,000	40,000	28,000	28,000	8,000	8,000	31,000	31,000	40,000	40,000	49,000	49,000	60,000	60,000	138,000	138,000	63,000	63,000	71,000	71,000	20,000	20,000	10,000	4,000	14,000	12,000	15,000	15,000	11,000	11,000	8,000	8,000	5,000	12,000	12,000	11,000	11,000	29,000	13,000	46,000	51,000	46,000	15,000	15,000	70,000	24,000	24,000	13,000	10,000	10,000	12,000	117,000	26,000	117,000	65,000		225,000	68,000	225,000	65,000
equity income and gain on distribution from equity-accounted investment	8,728,000	8,728,000
other income	4,834,000	4,834,000	-257,000	-257,000	-4,158,000		2,280,000	2,930,000	942,000	942,000	1,465,000	-779,000	965,000	-82,000	2,262,000		-490,000	840,000	2,428,000	-133,000	300,000	-1,581,000	-1,218,000	743,000	743,000	-1,140,000	-470,000	-470,000	940,000	940,000	1,143,000	1,143,000	-487,000	5,201,000	-502,000	933,000		614,000			-2,290,000	7,122,000	-799,000	-799,000	-1,273,000	-1,273,000		917,000							-1,938,000	-1,938,000	453,000	-1,385,000			-2,646,000	21,000	-1,259,000	-458,750	-1,386,000	-1,386,000	-469,000	-469,000	20,000	20,000	492,000						3,623,000	3,623,000																																		-12,750	-24,000		-60,000		-6,000
net income before income tax	89,748,000	89,748,000	62,182,000	62,182,000	75,562,000	75,562,000	81,127,000	96,149,000	58,233,000	58,233,000	109,252,000	140,438,000	113,311,000	78,838,000	159,364,000	171,650,000	20,571,750	69,323,000	27,726,000	-14,762,000	-51,196,500	-52,729,000	-131,263,000	-20,794,000	-20,794,000	37,214,000	-42,247,000	-42,247,000	83,600,000	83,600,000	107,503,000	107,503,000
income tax recovery	2,331,000	2,331,000	432,000	432,000	470,000	470,000	994,000	658,250	582,000	582,000		4,333,000	-1,968,750	2,528,000					822,000	820,000	-291,000	674,000	2,119,000							14,598,000
net income	92,079,000	92,079,000	62,614,000	62,614,000	76,032,000	76,032,000	82,121,000	93,111,000	58,815,000	58,815,000	106,970,000	144,771,000	111,694,000	81,366,000	151,243,000	169,368,000	146,427,000	68,053,000	28,548,000	-13,942,000	-39,808,000	-52,055,000	-129,144,000	-21,365,000	-21,365,000	-73,286,000	-44,434,000	-44,434,000	98,198,000	98,198,000	106,839,000	106,839,000	63,072,000	63,072,000	-19,850,000	-19,850,000	-14,307,000	-14,307,000	12,447,000	12,447,000	11,502,000	11,502,000	-17,484,000	-17,484,000	-27,413,000	-27,413,000	-19,153,000	-1,879,000		-5,783,000	-22,380,000	-37,477,000	2,828,000	38,980,000	6,846,000	6,846,000	-5,457,000	40,950,000	22,486,000	45,150,000	38,980,000	39,976,000	53,559,000	55,195,000	41,213,000	41,213,000	44,242,000	44,242,000	38,985,000	38,985,000	20,259,000	20,259,000	5,862,000	5,862,000	4,589,000	4,589,000	26,432,000	26,432,000	14,130,000	14,130,000	-14,591,000	-14,591,000	-5,724,000	-5,724,000	373,000	-1,953,000	-356,569,000	-356,569,000	-9,661,000	-9,661,000	-4,323,000	-4,323,000	4,137,000	4,137,000	-465,000	-17,133,000	-17,133,000	1,442,000	1,442,000	7,091,000	6,633,000	7,773,000	8,010,000	8,299,000	-269,000	-269,000	38,934,000	2,121,000	2,121,000	5,080,000	7,916,000	7,916,000	-1,517,000	-847,000	16,894,000	-847,000	10,494,000		22,005,000	19,561,000	22,628,000	14,038,000
yoy	21.11%	21.11%	-23.75%	-32.75%	29.27%	29.27%	-23.23%	-35.68%	-47.34%	-27.72%	-29.27%	-14.52%	-23.72%	19.56%	429.78%	-1314.80%	-467.83%	-230.73%	-122.11%	-34.74%	86.32%	-28.97%	190.64%	-51.92%	-121.76%	-174.63%	-141.59%	-141.59%	55.69%	55.69%	-638.23%	-638.23%	-540.85%	-540.85%	-259.48%	-259.48%	-224.39%	-224.39%	-171.19%	-171.19%	-141.96%	-141.96%	-8.71%	830.49%		374.03%	-14.42%	-94.99%		-114.84%	-426.91%	-647.43%	-151.82%	-4.81%	-69.55%	-84.84%	-114.00%	2.44%	-58.02%	-18.20%	-5.42%	-3.00%	21.06%	24.76%	5.72%	5.72%	118.38%	118.38%	565.05%	565.05%	341.47%	341.47%	-77.82%	-77.82%	-67.52%	-67.52%	-281.15%	-281.15%	-346.86%	-346.86%	-4011.80%	647.11%	-98.39%	-98.39%	-103.86%	-79.78%	8148.18%	8148.18%	-333.53%	-333.53%	829.68%	-74.77%	-124.15%	186.89%	-132.25%	-341.62%	-358.30%	-81.45%	-82.00%	-14.56%	-2565.80%	-2989.59%	-79.43%	291.28%	-112.68%	-105.30%	391.84%	-73.21%	-239.82%	-699.76%	-53.14%	-1034.59%	-114.46%		-23.23%	-104.33%	-53.62%
qoq	0.00%	47.06%	0.00%	-17.65%	0.00%	-7.41%	-11.80%	58.31%	0.00%	-45.02%	-26.11%	29.61%	37.27%	-46.20%	-10.70%	15.67%	115.17%	138.38%	-304.76%	-64.98%	-23.53%	-59.69%	504.47%	0.00%	-70.85%	64.93%	0.00%	-145.25%	0.00%	-8.09%	0.00%	69.39%	0.00%	-417.74%	0.00%	38.74%	0.00%	-214.94%	0.00%	8.22%	0.00%	-165.79%	0.00%	-36.22%	0.00%	43.13%	919.32%			-74.16%	-40.28%	-1425.21%	-92.74%	469.38%	0.00%	-225.45%	-113.33%	82.11%	-50.20%	15.83%	-2.49%	-25.36%	-2.96%	33.93%	0.00%	-6.85%	0.00%	13.48%	0.00%	92.43%	0.00%	245.60%	0.00%	27.74%	0.00%	-82.64%	0.00%	87.06%	0.00%	-196.84%	0.00%	154.91%	0.00%	-1634.58%	-119.10%	-99.45%	0.00%	3590.81%	0.00%	123.48%	0.00%	-204.50%	0.00%	-989.68%	-97.29%	0.00%	-1288.14%	0.00%	-79.66%	6.90%	-14.67%	-2.96%	-3.48%	-3185.13%	0.00%	-100.69%	1735.64%	0.00%	-58.25%	-35.83%	0.00%	-621.82%	79.10%	-105.01%	-2094.57%	-108.07%			12.49%	-13.55%	61.19%
net income margin %	40.21%	40.21%	26.89%	26.89%	32.82%	32.82%	31.79%	26.52%	24.18%	24.18%	36.07%	42.79%	35.65%	28.46%	40.81%	42.92%	39.86%	24.36%	11.78%	-8.01%	-24.83%	-44.92%	-104.64%	-14.97%	-14.97%	-57.34%	-26.10%	-26.10%	39.84%	39.84%	31.25%	31.25%	20.76%	19.30%	-10.89%	-10.89%	-7.07%	-7.07%	5.35%	5.35%	4.80%	4.80%	-9.94%	-9.94%	-15.97%	-15.97%	-11.37%	-1.79%	NaN%	-22.76%	-24.53%	-34.45%	2.26%	23.63%	5.82%	5.82%	-5.22%	32.40%	16.11%	40.57%	23.63%	37.18%	31.69%	31.12%	32.87%	32.87%	41.12%	41.12%	37.53%	37.53%	26.68%	26.68%	10.96%	10.96%	10.33%	10.33%	42.80%	42.80%	33.51%	33.51%	-36.96%	-36.96%	-13.16%	-13.16%	0.68%	-4.34%	-Infinity%	-Infinity%	-Infinity%	-20.96%	-Infinity%	-8.47%	Infinity%	12.98%	-Infinity%	-Infinity%	-57.70%	Infinity%	4.59%	Infinity%	16.97%	Infinity%	8.27%	Infinity%	-Infinity%	-0.89%	34.36%	Infinity%	6.65%	18.82%	Infinity%	30.50%	-6.93%	-Infinity%	54.49%	-Infinity%	31.33%	NaN%	Infinity%	47.09%	62.37%	Infinity%
earnings per share attributable
to shareholders of teekay tankers
- basic	2.66	34,669,842	1.81	34,580,482	2.2	34,482,849	2.38	2.258	1.7	34,496,757	34,383,813	4.23	2.943	2.38	34,140,540	4.97	0.608	2	0.84	-0.41	-1.495	-1.54	33,763,367	-0.63	33,743,722	1.19	-1.32	33,738,143	2.91	33,727,978	3.17	33,669,967	1.88				-0.05		0.05	268,678,226	0.04						268,292,374	-0.01			179,224,094	-0.22	0.02	156,083,657	0.04	0.09	-0.03	134,630,768	0.14	116,150,985	0.25		0.34			134,630,768			0.34	115,044,039,000	0.23	0.11	0.07	86,429,215,000	0.05	83,676,425,000	0.32					83,591,030,000			70,975,645,000
- diluted	2.64	34,831,261	1.8	34,739,396	2.19	34,666,717	2.37	2.238	1.69	34,765,008	34,705,613	4.18	2.908	2.35	34,546,749	4.9	0.605	1.98	0.83	-0.41	-1.495	-1.54	33,763,367	-0.63	33,743,722	1.183	-1.32	33,738,143	2.89	33,978,730	3.15	33,946,292	1.86				-0.05		0.05	268,876,324	0.04						268,292,374	-0.01			179,224,094	-0.22	0.02	156,492,737	0.04	0.09	-0.03	135,174,756	0.14	116,725,428	0.25		0.34			135,174,756			0.34	115,633,035,000	0.22	0.108	0.07	86,828,810,000	0.05	83,966,874,000	0.31					83,591,030,000			70,975,645,000
weighted-average number of total common
shares outstanding
number of outstanding common shares
at the end of the period	34,538,964		34,530,574		34,432,614		34,360,637	8,589,064.25	34,356,257
per common share amounts
- basic earnings per share		2.66		1.81		2.2				1.7	3.11				4.43								-3.83		-0.63			-1.32		2.91		3.17								0.05							-0.07				-0.12			0.25						0.38						0.31
- diluted earnings per share		2.64		1.8		2.19				1.69	3.08				4.38								-3.83		-0.63			-1.32		2.89		3.15								0.05							-0.07				-0.12			0.25						0.38						0.3
- cash dividends declared		0.25		1.25		0.25				0.25	2.25				1.25																																0.03				0.03							0.03		0.03						0.03				30				30		30																											970				1,860
weighted-average number of class a and class b common shares outstanding
related party transactions
equity income			659,000	659,000	230,000	230,000	615,000	615,000	-121,000	-121,000	905,000	1,368,000	516,000	666,000	1,120,000	1,130,000	1,708,000	221,000			-12,046,000	-873,000	-829,000	-359,000	-359,000	-74,000	46,000	46,000	3,188,000	3,188,000	1,940,000	1,940,000	1,693,000	1,693,000	68,000	68,000	-169,000	-169,000	753,000	753,000	955,000	955,000	-359,000	-359,000	-70,000	-70,000	694,000	1,804,000			-274,000	-28,027,000	2,011,000	3,814,000	3,502,000	3,502,000	1,045,000	2,762,000	4,740,000	3,587,000	3,814,000	2,582,000	5,480,000	5,480,000	2,762,000	2,762,000	3,587,000	3,587,000	2,582,000	2,582,000	1,007,000	1,007,000	1,612,000	1,612,000	15,000	15,000	2,594,000	2,594,000
other expense						-4,158,000										-2,245,000																					-1,025,000		-2,979,000								-1,868,000					-2,761,000	-1,429,000	-2,646,000					-1,940,000	-474,000
weighted-average number of class a and class b common sharesoutstanding
realized and unrealized gain on derivative instruments															547,000	-98,000	581,000	1,698,000	872,000	2,028,000			-512,000	703,000	703,000	-390,000	-414,000	-414,000										-1,778,000	-847,000	-847,000				596,000		1,116,000	3,013,000				390,000			-7,781,000				-1,031,000		523,000	-7,781,000		498,000	-523,750	-1,031,000	-1,031,000	523,000	523,000	-1,587,000	-1,587,000	-189,000	-380,750	447,000	447,000	-3,614,000	-3,614,000	1,644,000	1,644,000	-1,014,000	-127,500	-2,492,000		2,748,000	2,748,000		-766,000	1,263,000						-338,000	-338,000				-4,387,000		453,000	-2,658,000	4,404,000		4,404,000	-5,577,000	-5,577,000
time-charter hire expenses								-14,412,750	-18,465,000	-18,465,000	-19,670,000	-19,516,000	-19,822,000	-19,378,000	-18,691,000	-12,945,000	-8,035,000	-7,236,000	-6,553,000	-5,550,000	-5,161,000	-2,870,000	-2,138,000	-3,630,000	-3,630,000	-8,096,000	-9,070,000	-9,070,000	-9,296,000	-9,296,000	-9,879,000	-9,879,000	-12,312,000	-7,719,250	-10,637,000	-10,637,000	-10,792,000	-10,792,000	-9,448,000	-9,448,000																																			1,112,000	1,112,000		1,052,000				1,216,000			1,661,000					804,000		644,000		1,661,000	402,500	1,610,000	1,610,000
gain on sale of vessel								2,900,250																																																																																																				-37,000	-37,000
income tax											-2,282,000				-8,121,000													-2,187,000
weighted-average number of class a and class b common stock outstanding
gain on sale of vessels												11,601,000																																		170,000									-6,271,000								771,000
realized and unrealized loss on derivative instruments																					-9,000	-227,000								-589,000		-827,000																														-1,587,000																				-2,492,000			-1,079,000			5,234,000	-4,252,000	-4,252,000	-3,895,000	-3,895,000			-2,659,250	-6,703,000	-6,703,000		-4,387,000
number of outstanding shares of common
stock at the end of the period												34,257,659	8,519,930.25	34,079,721		33,958,982	8,476,999.5	33,907,998	33,846,038	33,804,760	8,447,128.5	33,788,514		33,755,457
gain on sale and (write-down) of assets																	2,222,000	8,156,000	1,153,000
gain on sale and
write-down of assets																				-421,000									2,896,000
income tax (expense) recovery																-2,282,000	93,000	-1,270,000								2,936,750	-2,187,000
equity loss																			-931,000	-754,000
loss per share attributable
write-down and loss on sale of assets																					-4,270,000	-697,000		-715,000	-715,000			-44,973,000
restructuring charge																										-349,500	-1,398,000	-1,398,000														-298,750	-213,000		-982,000																								-5,324,000	-5,324,000
income tax expense																								-571,000	-571,000							-664,000
(write-down) and gain on sale of assets																										-11,291,000	-44,973,000
number of outstanding shares of common stock at the end of the period																										8,434,535.75	33,738,143		33,738,143		33,721,161		33,654,576	67,247,599.75	268,990,399		268,990,399		268,990,399		268,558,556	67,139,639	268,558,556		268,558,556			268,201,638
gain on sale of assets and
realized and unrealized loss
on derivative instruments																													-589,000		-827,000		205,000	-293,000	1,453,000		-1,778,000				-1,693,000	1,181,250	596,000		1,116,000			2,028,000
income tax recoveries																													14,598,000
gain on sale of assets and write-down of assets																														2,896,000
loss and write-down on sale of vessels																															-3,087,000	-3,087,000
realized and unrealized gain
income tax expenses																															-664,000
gain and write-down on sale
of vessels																																	-5,544,000
freight tax and other tax
recoveries																																	-13,195,000
- basic and diluted																																		-0.02	-0.07	268,990,399		268,990,399				-0.06	-0.07	268,558,556	-0.1	268,558,556																																	0.17	-0.068	-0.17		-0.07			-0.02		-4,539.94	-0.12		0.01		0.06		-0.035	-0.28		0.02		0.12			39,260,672,000	0.045	-0.01		28,643,836,000	0.05			0.25					-0.03
revenues																																																																																							45,493,000	37,984,000	46,084,000		51,040,000		31,876,000		23,216,500	29,695,000		31,427,000		31,744,000		30,160,000		24,216,000	30,345,000
realized and unrealized gain gain on derivative instruments																																				1,453,000
freight tax and other tax expenses																																				-1,435,000		-1,639,000		-2,614,000
- basic loss per share																																				-0.07		-0.05						-0.07		-0.1
- diluted loss per share																																				-0.07		-0.05						-0.07		-0.1
earnings per share attributable to shareholders of teekay tankers
weighted-average number of total common shares outstanding																																																																															83,591,030		83,591,030
other																																								-365,000											-1,768,000																							-217,000		-89,000
net pool revenues																																																35,964,000			28,246,000	33,100,000	45,452,000	110,806,000	49,869,000	49,869,000	49,174,000	92,022,000	90,446,000	90,979,000	110,806,000	80,509,000	107,073,000	107,073,000	92,022,000	92,022,000	90,979,000	90,979,000	80,509,000	80,509,000	56,302,000	56,302,000	31,648,000	31,648,000	20,518,000	20,518,000	30,163,000	30,163,000	19,205,000	19,205,000	18,879,000		15,493,000			16,098,000	15,241,000	6,530,000	14,638,000		16,136,000		11,504,000	11,504,000			4,208,000										40,159,000
time-charter hire expense																																									-4,841,000	-4,841,000	-4,317,000	-4,317,000	-5,697,000	-5,697,000	-4,683,000	-3,202,000			-5,835,000	-7,997,000	-13,627,000	-20,716,000	-11,683,000	-11,683,000	-11,335,000	-21,382,000	-15,913,000	-16,793,000	-20,716,000	-15,003,000	-21,720,000	-20,502,000	-22,600,000	-22,600,000	-16,793,000	-16,793,000	-15,003,000	-15,003,000	-13,687,000	-13,687,000	-6,309,000	-6,309,000			1,052,000		1,021,000	1,021,000	1,216,000		1,951,000	1,951,000		1,986,000	841,000	841,000	804,000		644,000		1,661,000
gain on sales of vessels																																										42,500			170,000
loss on sale of vessels																																																			-7,926,000	-142,000	-4,427,000																						-9,955,000	-9,955,000																												466,000	1,901,000
loss on sales of vessels																																																-489,000
net pool revenues from affiliates																																																		18,504,000																																18,879,000		15,493,000	16,313,000					14,638,000		16,136,000			6,056,000	4,208,000		10,154,000	10,154,000	9,862,000	16,392,000	7,438,000	29,390,000	18,524,000	6,448,000	6,448,000			11,032,000	9,045,000		9,706,000	4,783,000		10,594,000
time charter revenues																																																		6,741,000		30,091,000	30,330,000		28,490,000	28,490,000	23,276,000	20,339,000	22,621,000	13,886,000	22,987,000	14,162,000	26,988,000	35,354,000	19,307,000	19,307,000	10,197,000	10,197,000	10,517,000	10,517,000	17,803,000	17,803,000	19,986,000	19,986,000	20,533,000	20,533,000		21,482,000				20,600,000		22,710,000	35,636,000					28,356,000		32,032,000		17,509,000	18,600,000	22,632,000	22,632,000	18,423,000	18,423,000	19,125,000	22,692,000	19,838,000	65,061,000	21,183,000	21,484,000	21,484,000	73,144,000		20,885,000	17,945,000		16,245,000	17,116,000		20,411,000		16,153,000				16,269,000
voyage revenues																																																		167,000																																																										31,917,000			25,951,000			32,852,000		32,852,000			35,745,000			26,671,000
income from vessel operations																																																		-1,098,000																																																					28,414,000				41,622,000	10,404,000	10,404,000	8,716,000	7,035,000	7,035,000	4,214,000	16,371,000	13,567,000	16,371,000	19,135,000		20,358,000	24,384,000	20,694,000	16,185,000
other expenses																																																		-262,000																													-186,000			-458,000	-354,000	-354,000	-276,000	-184,000		-451,500	-826,000	-826,000	-703,000	-703,000		-336,000	67,000	-116,000	-116,000	-243,000	-243,000	-295,000	-598,000
per common share of tanker investments ltd.
• basic earnings attributable to common stockholders of tanker investments ltd.																																																		-190
• diluted earnings attributable to common stockholders of tanker investments ltd.																																																		-190
weighted-average number of common shares outstanding
• basic																																																		30,373,038,000																																		83,591,030,000
• diluted																																																		30,373,038,000																																		83,591,030,000
total number of common shares outstanding at end of period																																																		30,398,057,000
realized and unrealized gain on
derivative instruments																																																				-1,560,000	461,000		6,938,000	-1,975,500	3,629,000		-3,750,000
earnings per share attributable to
shareholders of teekay tankers
asset impairments																																																								-3,546,500	-7,766,000
loss on sale of vessel																																																								-34,250	-137,000
income per share attributable to
- basic income per share																																																										0.31
- diluted income per share																																																										0.3
asset impairment																																																											-6,420,000
– basic earnings per share																																																														0.34						0.38
– diluted earnings per share																																																														0.34						0.38
– cash dividends declared																																																														0.03						0.03										30
– basic																																																														115,044,039		0.255	0.31		0.38	116,150,985										83,617,408,000
– diluted																																																														115,633,035		0.255	0.3		0.38	116,725,428										83,973,172,000
interest income from investment in term loans																																																																													9,118,000	9,118,000	1,994,000	1,994,000			2,856,000	2,856,000	2,863,000	2,827,000	2,885,000	2,153,500	2,880,000	2,880,000	2,872,000	2,872,000	2,863,000	2,863,000	2,861,000	2,855,000	2,855,000	2,850,000	2,850,000	2,757,000		2,884,000	2,413,000	2,884,000	2,413,000	2,413,000
general and administrative																																																																			-3,039,000	-3,039,000	-3,300,000	-3,300,000				-2,890,000	3,163,000	3,163,000	3,192,000	3,192,000	2,354,000	2,354,000	3,317,000	3,317,000	3,362,000	3,362,000	1,338,000	3,561,000	3,791,000	1,225,000	3,327,000	3,327,000	4,402,000	4,402,000	2,086,000	2,086,000	1,882,000	1,927,000	1,927,000	2,131,000	2,131,000	2,669,000	2,926,000	1,867,000	5,805,000	3,984,000	1,782,000	1,782,000	6,694,000	1,746,000	1,746,000	1,479,000	1,455,000	1,455,000	1,814,000	705,000	1,783,000	705,000	1,901,000		1,670,000			1,321,000
- basic earnings attributable to shareholders of teekay tankers																																																																						340															60
- diluted earnings attributable to shareholders of teekay tankers																																																																						340															60
reversal of provision on investment in term loans
loss provision on investment in term loans																																																																																3,727,500	10,399,000	10,399,000	4,511,000	4,511,000
other (expenses) income																																																																								829,250	-217,000		-89,000																		-336,000
- basic earnings attributable to stockholders of teekay tankers																																																																										70		50
- diluted earnings attributable to stockholders of teekay tankers																																																																										70		50
operating expenses
operating expenses - sum																																																																											33,942,000		40,979,000		24,992,000				49,026,000			43,449,000		34,345,750	47,728,000		44,122,000		25,834,000		21,817,750	39,281,000		24,325,000		23,665,000		25,017,000		17,112,500	23,195,000			21,513,000			18,916,000			16,481,000		16,481,000						10,486,000
other items
other items - sum																																																																											-5,902,000		5,652,000		-3,041,000				-190,000			-3,457,000		-7,041,250	-8,017,000		-11,241,000		-1,905,000		-3,548,750	-7,547,000		-5,660,000		-988,000		2,630,000		-5,101,000	-7,419,000			-8,283,000			881,000			-17,218,000		-17,218,000			1,647,000			-2,147,000
total operating expenses																																																																												33,942,000		40,979,000				49,209,000		49,026,000	45,533,000					47,728,000		44,122,000		25,834,000			39,281,000		24,325,000		27,262,000		68,450,000			23,195,000	71,681,000		21,513,000	18,274,000		18,916,000	17,685,000		17,438,000		14,357,000			17,159,000	15,588,000
total other items																																																																												-5,902,000		5,652,000				-4,861,000		-190,000	-8,906,000					-8,017,000		-11,241,000		-1,905,000			-7,547,000		-5,660,000		-5,189,000		-20,404,000			-7,419,000	-2,688,000		-8,283,000	-3,636,000		881,000	-5,731,000		3,327,000		-8,641,000			-4,823,000	1,934,000
reversal of loss provision on investment in term loans
net loss on sale of vessels																																																																																																							1,864,000			1,901,000
weighted-average number of total common share outstanding
– basic earnings attributable to stockholders of teekay tankers																																																																														320
– diluted earnings attributable to stockholders of teekay tankers																																																																														310
voyage charter revenue																																																																															132,000	1,070,750			2,433,000	2,433,000		1,850,000	28,000	52,500	210,000	210,000
(reversal) loss provision on investment in term loans																																																																															-14,910,000
vessel impairment and net loss on sale of vessel																																																																																						71,000
equity income from joint venture																																																																															564,000	72,500	458,000
weighted-average number of class a common shares outstanding																																																																																			71,091,030
weighted-average number of class b common shares outstanding																																																																																			12,500,000
net income on sale of vessel																																																																																17,750
other incomes																																																																																-207,000	-458,000						-258,000
loss per share attributable to shareholders of teekay tankers
loss on sale of vessel and equipment
equity income from investment in joint venture																																																																																		458,000
add: net loss attributable to the dropdown predecessor																																																																																					3,764,000							5,398,000
net loss attributable to common stockholders																																																																																		-14,591,000								-9,661,000
- basic loss attributable to stockholders of teekay tankers																																																																																		-170
- diluted loss attributable to stockholders of teekay tankers																																																																																		-170
net loss on sale of vessel
earnings per share shareholders of teekay tankers
net income attributable to common stockholders																																																																																				-5,724,000	4,137,000
• basic earnings attributable to stockholders of teekay tankers																																																																																				-70
• diluted earnings attributable to stockholders of teekay tankers																																																																																				-70
cash dividends declared																																																																																				30						0.02		0.11
goodwill impairment
write-down of vessels and equipment																																																																																							352,546,000
loss per share attributable to shareholders of teekay tankers - basic and diluted																																																																																							-4.27
weighted-average number of class a common shares outstanding - basic and diluted																																																																																							71,091,030																																			12,500,000
weighted-average number of class b common shares outstanding - basic and diluted																																																																																							12,500,000																																			12,500,000
weighted-average number of total common shares outstanding - basic and diluted																																																																																							83,591,030																																			25,000,000
write-down of vessel and equipment
per common share amounts:
basic and diluted loss per share																																																																																										-0.12
weighted-average number of
class a and class b common shares outstanding
basic and diluted																																																																																										83,591,030
net income available for common stockholders																																																																																												1,075,000
earnings per share
basic and diluted																																																																																												0.01
weighted-average number of class a and class b common shares outstanding
basic and diluted																																																																																												79,911,673
earnings per share
• basic and diluted earnings																																																																																														60			-280									-10			50	160		230	-50		640		390			780	890
• cash dividends declared																																																																																														110			210		250		260					340			370	260										900	700
• basic and diluted																																																																																														70,975,645,000			61,876,744,000		20		160					43,391,744,000			42,265,088,000	32,000,000,000		1,131,015,000	32,000,000,000		25,461,538,000		25,000,000,000			25,000,000,000	25,000,000,000
goodwill impairment charge																																																																																																13,310,000	13,310,000
other income — net																																																																																																						-152,000		-149,000	-204,000		-56,000	5,000	5,000	2,000	-5,000			65,000		65,000				-3,000
earnings per share — basic and diluted																																																																																																						0.17												-0.03
weighted-average number of class a common shares outstanding — basic and diluted																																																																																																						38,938,048												12,500,000
weighted-average number of class b common shares outstanding — basic and diluted																																																																																																						12,500,000												12,500,000
weighted-average number of total common shares outstanding — basic and diluted																																																																																																						51,438,048												25,000,000
realized and unrealized loss on non-designated derivatives																																																																																																							-14,940,000
other loss — net																																																																																																							-596,000			-204,000
- basic and diluted earnings																																																																																																							180				1,280
weighted-average number of class a and class b common shares outstanding:
realized and unrealized gain on non-designated derivatives																																																																																																											4,310,000
realized and unrealized gain on interest rate swap																																																																																																												-6,705,000		-2,658,000	2,031,000	2,031,000	-4,564,000	-14,517,000	5,475,000		-4,562,000
realized and unrealized gain on derivative instrument																																																																																																													-6,705,000
• cash dividends declared and paid																																																																																																																427.5	400		590		115
net pool revenues from related parties																																																																																																																					16,488,000
weighted-average number of common shares outstanding:
interest gain																																																																																																																							1,429,000		1,716,000
other expense — net																																																																																																																							-7,000		-7,000
earnings per share - - basic and diluted																																																																																																																							0.88
weighted-average number of class a common shares outstanding - - basic and diluted																																																																																																																							12,500,000
weighted-average number of class b common shares outstanding - - basic and diluted																																																																																																																							12,500,000
weighted-average number of total common shares outstanding - - basic and diluted																																																																																																																							25,000,000
time charter revenues (4.2 million, 7.9 million, 10.1 million and 15.1 million, respectively,																																																																																																																								12,995,000
from related parties)																																																																																																																								28,548,000
net pool revenues from related parties(note 6f)voyage charter revenues
pool revenues																																																																																																																									20,013,000
foreign exchange loss																																																																																																																										-6,000
earnings per share - basic and diluted																																																																																																																										0.56

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-08-02	2018-06-30	2018-03-31	2018-02-22	2017-12-31	2017-10-25	2017-09-30	2017-06-30	2017-05-18	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-11-05	2015-09-30	2015-08-06	2015-06-30	2015-05-14	2015-03-31	2015-02-19	2014-12-31	2014-11-06	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-05-31	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-11-10	2011-09-30	2011-08-16	2011-06-30	2011-05-13	2011-03-31	2011-02-28	2011-02-03	2010-12-31	2010-11-12	2010-09-30	2010-09-29	2010-08-11	2010-06-30	2010-03-31	2010-03-05	2009-12-31	2009-09-30	2009-07-23	2009-06-30	2009-05-15	2009-03-31	2008-12-31	2008-11-25	2008-09-30	2008-06-30	2008-03-31	2007-12-31

assets
current
cash and cash equivalents	764,670,000	650,038,000	675,420,000	511,888,000	462,851,000	426,841,000	369,744,000	365,251,000	227,292,000	178,850,000	169,751,000	180,512,000	78,008,000	66,266,000	18,366,000	50,572,000	60,723,000	60,498,000	87,595,000	97,232,000	120,872,000	167,907,000	203,325,000	88,824,000	76,705,000	35,429,000	75,045,000	54,917,000	54,361,000	47,962,000	48,457,000	47,962,000	60,606,000	71,439,000	40,625,000	60,606,000	87,255,000	68,108,000	47,564,000	94,157,000	59,237,000	58,018,000	68,374,000	96,417,000	80,579,000	80,579,000	83,082,000	83,082,000	40,513,000	40,513,000	162,797,000	162,797,000		46,366,000	21,764,000	27,138,000	25,646,000	29,168,000	37,708,000	27,046,000	27,046,000	26,341,000	26,298,000	18,554,000	24,478,000	15,859,000		14,104,000		16,566,000		20,268,000			12,450,000		11,244,000			8,653,000	12,152,000		10,432,000	13,396,000		17,575,000		22,412,000	26,698,000	19,706,000		19,706,000	44,477,000
short-term investments	10,000,000	61,000,000
restricted cash – current	804,000	835,000	1,118,000		667,000	679,000	679,000		691,000	703,000			2,730,000	2,503,000	2,200,000		2,476,000		2,813,000		4,686,000	4,766,000	3,318,000		2,341,000	1,916,000	2,087,000		1,794,000		1,858,000	1,252,000
marketable securities	22,303,000	19,681,000	20,070,000	22,442,000
accounts receivable	68,345,000	89,898,000	91,591,000	82,440,000	79,576,000	95,209,000	92,515,000	99,940,000	116,434,000	124,703,000	154,549,000	116,707,000	77,685,000	73,879,000	43,150,000	41,085,000	28,308,000	35,056,000	36,782,000	36,202,000	46,247,000	88,663,000	108,326,000							15,520,000			22,484,000		247,000	22,484,000	18,187,000	30,247,000	22,797,000		25,245,000	43,611,000	25,325,000	28,313,000	22,653,000	22,653,000	11,344,000	11,344,000	9,833,000	9,833,000	4,178,000	4,178,000		2,591,000	2,545,000	5,031,000	4,247,000	8,233,000	7,633,000	7,779,000	7,779,000	4,523,000	2,546,000	1,212,000	602,000	157,000		317,000		147,000		200,000			175,000		1,020,000			1,236,000	63,000		90,000	68,000		28,000			565,000		4,091,000	4,742,000		2,494,000
assets held for sale	39,782,000	113,783,000	48,564,000		37,239,000	36,446,000	36,505,000	11,910,000						17,913,000	28,531,000	43,543,000	13,756,000	11,925,000		32,974,000			50,818,000	65,458,000
due from affiliates	260,000	6,082,000	4,666,000	5,230,000	83,000	1,944,000	53,000	130,000	66,000	70,000	211,000	2,486,000	2,519,000	4,164,000	3,673,000	4,220,000	2,619,000	681,000	1,730,000	5,236,000	3,323,000	2,440,000	463,000	697,000	1,634,000	1,240,000	7,979,000	39,663,000	50,551,000	56,211,000	50,034,000	56,211,000	33,314,000	49,103,000	181,000	33,314,000	46,306,000	41,420,000	37,869,000	48,714,000	52,501,000	80,075,000	57,364,000	67,159,000	39,281,000	39,281,000	47,493,000	47,493,000	44,059,000	44,059,000	42,502,000	42,502,000		36,674,000	33,197,000	25,890,000	27,991,000	26,791,000	20,981,000	27,248,000	27,248,000	24,787,000	22,619,000	20,702,000	17,365,000	12,610,000	13,568,000	13,568,000	14,604,000	14,604,000	14,056,000	14,056,000	12,357,000		9,484,000	5,897,000	4,233,000		9,147,000	9,147,000	5,937,000	223,000	223,000	766,000	4,433,000	7,947,000	7,387,000				4,979,000
bunker and lube oil inventory	36,139,000	33,897,000	38,181,000	45,990,000	45,440,000	49,760,000	54,868,000	53,219,000	51,678,000	56,803,000	64,421,000	60,832,000	66,173,000	84,710,000	62,731,000	49,028,000	49,817,000	49,609,000	40,403,000	34,606,000	33,444,000	30,885,000	50,430,000	49,790,000	50,473,000	63,441,000	50,485,000
prepaid expenses	12,989,000	14,693,000	15,076,000	12,800,000	10,000,000	13,007,000	11,671,000	12,332,000	10,341,000	12,833,000	12,933,000	10,248,000	10,506,000	13,343,000	14,115,000	10,223,000	11,069,000	12,528,000	11,618,000	9,739,000	13,561,000	12,103,000	11,841,000	10,288,000	14,108,000	10,146,000	11,649,000	34,096,000	22,662,000	23,045,000	21,523,000	23,045,000	15,832,000	18,690,000		15,832,000	16,664,000	15,684,000	15,858,000	21,300,000	20,053,000	22,736,000	21,587,000	24,320,000		30,169,000		13,656,000		18,030,000		8,883,000		12,957,000	12,036,000	14,894,000	10,361,000	12,630,000	8,077,000	9,880,000	9,880,000	9,714,000	6,932,000	6,776,000	3,773,000	3,395,000		3,819,000		3,183,000		3,432,000			2,492,000		2,399,000			2,545,000	2,400,000		2,057,000	2,456,000		2,350,000		3,162,000	2,684,000		3,062,000	1,969,000		2,078,000
accrued revenue	48,710,000	45,132,000	42,862,000	57,605,000	46,394,000	65,138,000	86,209,000	70,026,000	58,406,000	77,444,000	80,579,000	82,923,000	79,425,000	47,511,000	57,512,000	44,503,000	33,271,000	20,673,000	38,057,000	26,640,000	29,410,000	42,153,000	66,664,000	106,872,000
other current assets	9,115,000	5,714,000	6,037,000	5,873,000	4,908,000																				61,598,000	48,296,000	53,369,000	17,943,000	1,385,000	1,302,000	3,103,000	1,302,000																																	551,000	308,000	4,602,000	466,000	3,633,000	303,000	3,707,000	75,000	2,813,000		146,000	5,279,000	77,000		4,249,000	115,000	129,000	2,415,000	268,000	544,000	3,370,000	160,000	3,667,000	208,000	983,000	2,263,000			1,856,000
total current assets	1,013,117,000	1,040,753,000	943,585,000	747,941,000	687,158,000	689,024,000	652,244,000	613,499,000	464,908,000	451,406,000	488,180,000	459,509,000	319,423,000	311,820,000	231,064,000	245,395,000	202,039,000	193,734,000	218,998,000	245,408,000	251,543,000	348,917,000	495,185,000	421,225,000	261,544,000	228,478,000	264,372,000	225,591,000	177,799,000		168,329,000	161,300,000		176,685,000	53,041,000	149,187,000	178,992,000		155,211,000	257,985,000	186,814,000	251,181,000	218,957,000	279,814,000		219,803,000		191,760,000		149,209,000		253,614,000		117,257,000	83,241,000	229,978,000	215,071,000	198,880,000	204,721,000	202,974,000	202,974,000	202,965,000	186,341,000	61,807,000	54,457,000	36,747,000		35,548,000		39,198,000		45,939,000		28,014,000	35,164,000		24,980,000	19,515,000		28,072,000	43,818,000		23,497,000	19,726,000		34,118,000		36,085,000	48,725,000		46,818,000	45,361,000		41,021,000
vessels and equipment																																															1,035,311,000		1,047,231,000		828,291,000																726,766,000		737,096,000		746,980,000		757,437,000			654,853,000			679,803,000			506,309,000			428,721,000		433,978,000			441,135,000			265,406,000	267,729,000
at cost, less accumulated depreciation of 501.6 million	1,041,105,000
operating lease right-of-use assets	34,914,000	39,904,000	44,150,000	52,162,000	53,999,000	63,704,000	65,870,000	76,314,000	86,624,000	90,831,000	92,691,000	42,894,000	16,063,000	8,701,000	10,895,000	14,257,000	10,334,000	548,000	708,000	2,529,000	6,148,000	10,758,000	15,511,000		23,595,000	19,089,000	22,014,000
total vessels and equipment	1,076,019,000	968,811,000	1,028,274,000	1,184,271,000	1,205,861,000	1,154,603,000	1,165,837,000	1,234,524,000	1,281,238,000	1,301,448,000		1,296,262,000	1,286,048,000	1,290,656,000	1,329,440,000	1,351,255,000	1,413,645,000		1,530,790,000	1,557,829,000	1,622,666,000	1,683,734,000	1,691,724,000	1,769,726,000	1,859,733,000	1,875,855,000	1,886,440,000
investment in and advances to equity-accounted joint venture		16,887,000	16,228,000	15,998,000	15,382,000	18,004,000	17,098,000	15,731,000	15,215,000	16,549,000	17,328,000	16,198,000	14,490,000	14,269,000	12,200,000	12,954,000	25,000,000	25,873,000	28,202,000	28,561,000	28,635,000	29,740,000	28,051,000		26,418,000	26,351,000
goodwill, intangibles and other non-current assets	24,100,000
total assets	2,113,236,000	2,059,521,000	2,023,225,000	1,973,968,000	1,916,254,000	1,880,591,000	1,845,554,000	1,873,494,000	1,770,635,000	1,779,817,000	1,838,880,000	1,783,654,000	1,632,582,000	1,626,351,000	1,582,795,000	1,618,749,000	1,649,692,000	1,654,213,000	1,787,653,000	1,840,245,000	1,912,004,000	2,071,966,000	2,224,891,000	2,229,476,000	2,170,138,000	2,153,928,000	2,202,786,000	2,161,086,000	2,129,194,000	2,159,028,000	2,140,696,000	2,159,028,000	1,735,953,000	2,197,348,000	783,435,000	1,735,953,000	1,803,426,000	1,932,425,000	1,842,243,000	1,964,370,000	1,957,784,000	2,063,730,000	2,072,791,000	2,169,476,000	1,941,712,000	1,941,712,000	1,314,155,000	1,314,155,000	1,279,464,000	1,279,464,000	1,165,359,000	1,165,359,000		1,026,491,000	977,499,000	1,134,221,000	1,097,529,000	1,083,053,000	1,091,833,000	1,096,449,000	1,096,449,000	1,105,656,000	1,469,646,000	1,471,716,000	889,915,000	881,926,000	890,794,000	890,794,000	917,637,000	917,637,000	934,079,000	934,079,000	936,517,000	60,159,000	936,517,000	809,861,000	809,861,000	54,489,000	722,558,000	722,557,000	537,269,000	539,963,000	539,963,000	542,675,000	472,843,000	555,890,000	488,937,000	472,843,000	490,810,000	490,585,000	491,859,000	495,255,000	325,803,000	310,324,000
liabilities and equity
accounts payable	19,124,000	22,980,000	26,620,000	25,550,000	21,217,000	28,118,000	25,643,000	29,872,000	28,572,000	37,421,000		42,350,000	34,967,000	30,943,000	28,714,000	34,832,000	33,734,000		34,485,000	31,059,000	41,761,000	59,652,000	63,278,000						5,352,000		5,822,000				2,486,000	10,353,000	9,253,000		10,695,000		9,858,000	10,784,000	14,554,000	16,717,000		14,243,000		5,747,000		3,637,000		1,899,000		3,491,000	3,388,000	3,492,000	2,251,000	1,822,000	2,098,000	4,385,000	4,385,000	3,346,000	2,413,000	3,185,000	2,837,000	1,935,000		2,485,000		2,651,000		2,844,000		239,000	2,124,000		2,856,000	212,000		2,242,000	2,812,000			3,044,000		2,299,000		2,231,000	1,614,000		2,684,000	1,905,000
accrued liabilities	77,916,000	88,605,000	64,455,000	75,668,000	45,069,000	39,541,000	34,937,000	43,715,000	34,356,000	32,695,000		47,469,000	42,864,000	50,774,000	42,124,000	32,583,000	37,135,000		35,535,000	55,055,000	41,511,000	40,360,000	43,542,000	59,735,000	46,519,000	56,448,000	47,676,000	40,856,000	35,717,000		34,063,000	31,874,000		34,608,000		29,756,000	26,157,000		24,206,000	28,663,000	26,259,000	47,121,000	30,233,000	62,029,000		40,107,000		18,218,000		20,761,000		17,565,000		20,704,000	14,971,000	16,709,000	21,069,000	17,861,000	14,543,000	16,152,000	16,152,000	17,882,000	14,489,000	9,734,000	6,818,000	7,423,000		7,451,000		7,906,000		7,186,000			7,949,000		9,414,000			9,770,000	6,198,000		8,287,000	8,005,000		6,851,000		6,153,000	7,077,000		5,691,000	7,755,000		3,828,000
current portion of operating lease liabilities	15,118,000	17,212,000	20,000,000	24,875,000	27,646,000	32,747,000	30,802,000	35,882,000	39,384,000	37,390,000	32,345,000	16,585,000	12,394,000	8,512,000	9,215,000	9,389,000	6,398,000	837,000	1,880,000	3,685,000	7,602,000	10,986,000	14,049,000		16,405,000	12,224,000	12,038,000
due to affiliates	31,000	166,000	1,402,000	152,000	2,886,000	1,278,000	4,365,000	5,013,000	4,257,000	3,244,000	1,915,000	1,141,000	1,376,000	14,695,000	16,226,000	10,944,000	9,831,000	10,162,000	4,748,000	3,123,000	2,932,000	2,091,000	4,677,000	2,139,000	1,241,000	12,320,000	23,456,000	18,570,000	18,391,000	19,371,000	39,422,000	19,371,000	14,293,000	19,717,000	2,065,000	14,293,000	31,993,000	20,912,000	10,085,000	36,299,000	26,470,000	15,409,000	5,075,000	26,630,000	4,679,000	4,679,000	11,830,000	11,830,000	14,863,000	14,863,000	10,395,000	10,395,000		9,252,000	8,707,000	8,377,000	11,323,000	11,430,000	22,375,000	7,273,000	7,273,000	3,592,000	16,154,000	10,070,000	6,520,000	4,999,000	2,322,000	2,322,000	1,967,000	1,967,000	6,571,000	6,571,000	5,841,000		5,841,000	5,518,000	5,518,000		1,459,000	1,459,000	2,167,000			1,462,000	1,388,000	4,620,000	2,305,000				3,580,000		3,943,000
other current liabilities	3,153,000	3,392,000	4,742,000	5,797,000	4,275,000	3,914,000	3,417,000	4,289,000	2,890,000	7,034,000	9,135,000	2,468,000	1,310,000	624,000	828,000	1,686,000	2,411,000	822,000	2,643,000	4,574,000	3,696,000	8,485,000	5,923,000	8,567,000	255,000	316,000	417,000																																						47,000	115,000	1,896,000	184,000	3,093,000	254,000	3,680,000	277,000	2,305,000		277,000	3,073,000	277,000	801,000	3,371,000	277,000	277,000	3,849,000	277,000	277,000	5,011,000	291,000	379,000	717,000	379,000
total current liabilities	115,342,000	132,355,000	117,219,000	132,042,000	101,093,000	105,598,000	99,164,000	139,288,000	129,963,000	146,241,000	175,005,000	170,174,000	175,218,000	191,286,000	183,815,000	157,088,000	164,484,000	241,320,000	308,741,000	197,119,000	156,013,000	185,818,000	244,923,000	279,705,000	295,414,000	269,501,000	257,197,000	197,761,000	179,231,000		241,927,000	219,075,000		236,714,000	53,097,000	223,623,000	224,096,000		205,190,000	255,950,000	222,093,000	228,798,000	212,890,000	289,652,000		544,219,000		187,787,000		193,611,000		79,718,000		88,454,000	86,507,000	55,745,000	70,194,000	63,668,000	72,748,000	61,277,000	61,277,000	61,830,000	66,651,000	58,800,000	25,013,000	22,076,000		20,260,000		22,003,000		26,611,000		59,440,000	24,528,000		28,964,000	35,893,000		24,165,000	21,931,000		21,644,000	23,107,000		24,053,000		22,117,000	22,397,000		17,216,000	18,594,000		8,215,000
long-term operating lease liabilities	20,183,000	23,444,000	25,657,000	28,716,000	26,354,000	30,957,000	35,068,000	40,432,000	47,240,000	53,557,000	60,693,000	26,858,000	4,408,000	1,101,000	2,746,000	4,868,000	3,937,000	105,000	211,000	315,000	421,000	417,000	1,462,000	3,270,000	7,190,000	6,865,000	9,976,000
other long-term liabilities	46,401,000	56,381,000	56,130,000	56,660,000	43,869,000	48,093,000	46,055,000	48,907,000	47,501,000	51,681,000	46,179,000	44,017,000	42,485,000	42,081,000	45,541,000	46,141,000	46,559,000	47,828,000	50,221,000	49,642,000	29,683,000	27,516,000	51,114,000	51,044,000	37,474,000	37,166,000	36,343,000	32,829,000	30,646,000	28,609,000	29,620,000	28,609,000	19,226,000	26,795,000	6,351,000	19,226,000	17,829,000	12,882,000	14,333,000	13,683,000	11,293,000	11,929,000	9,952,000	7,597,000	14,176,000	6,519,000	13,327,000	5,227,000	15,917,000	4,862,000	15,814,000	4,852,000		5,559,000	5,444,000	5,405,000	5,351,000	5,256,000		5,158,000	5,158,000	4,757,000	4,578,000	4,010,000	3,560,000	3,228,000	23,866,000	3,297,000	18,342,000	3,185,000	15,286,000	2,930,000	17,072,000	388,000	2,733,000	20,471,000	185,000		17,132,000	254,000	323,000	10,420,000	392,000	462,000	17,791,000	400,000	23,712,000	600,000	669,000	6,793,000			10,809,000
total liabilities	181,926,000	212,180,000	199,006,000	217,418,000	171,316,000	184,648,000	180,287,000	347,709,000	348,920,000	431,028,000		713,648,000	709,886,000	772,782,000	757,890,000	780,337,000	771,921,000		729,775,000	761,343,000	760,215,000	876,167,000	1,127,664,000	1,239,556,000	1,243,851,000	1,208,033,000	1,242,738,000	1,214,153,000	1,193,983,000		1,188,226,000	1,179,293,000		1,190,747,000	360,914,000	873,525,000	913,457,000		909,827,000	1,031,630,000	1,047,110,000	1,138,413,000	1,155,958,000	1,292,015,000		1,103,437,000		731,333,000		774,440,000		709,636,000		700,472,000	664,808,000	823,562,000	812,857,000	810,381,000	802,158,000	798,638,000	798,638,000	803,473,000	809,262,000	792,206,000	339,126,000	392,555,000		391,676,000		388,345,000		390,675,000		59,828,000	493,828,000		465,363,000	46,693,000		363,125,000	334,243,000		333,692,000	339,496,000		338,244,000		354,236,000	368,504,000		341,958,000	342,414,000		161,530,000
commitments and contingencies
equity											1,240,275,000							929,433,000												979,735,000			862,428,000					920,624,000							838,275,000		582,822,000		505,024,000		455,723,000
common shares and additional paid-in capital	1,314,113,000	1,313,541,000	1,309,758,000		1,309,252,000
accumulated surplus	617,197,000	533,800,000	514,461,000	447,055,000	435,686,000	385,502,000	356,169,000	220,021,000	116,914,000	44,117,000
total equity	1,931,310,000	1,847,341,000	1,824,219,000	1,756,550,000	1,744,938,000	1,695,943,000	1,665,267,000	1,525,785,000	1,421,715,000	1,348,789,000		1,070,006,000	922,696,000	853,569,000	824,905,000	838,412,000	877,771,000		1,057,878,000	1,078,902,000	1,151,789,000	1,195,799,000	1,097,227,000	989,920,000	926,287,000	945,895,000	960,048,000	946,933,000	935,211,000		952,470,000	979,735,000		1,006,601,000		862,428,000	889,969,000		932,416,000	932,740,000	910,674,000	925,317,000	916,833,000	877,461,000		838,275,000		582,822,000				455,723,000					284,672,000	272,672,000	289,675,000	297,811,000	297,811,000	302,183,000	660,384,000	679,510,000	550,789,000	489,371,000		499,118,000		529,292,000		543,404,000			442,689,000		344,498,000
total liabilities and equity	2,113,236,000	2,059,521,000	2,023,225,000	1,973,968,000	1,916,254,000	1,880,591,000	1,845,554,000	1,873,494,000	1,770,635,000	1,779,817,000	1,838,880,000	1,783,654,000	1,632,582,000	1,626,351,000	1,582,795,000	1,618,749,000	1,649,692,000	1,654,213,000	1,787,653,000	1,840,245,000	1,912,004,000	2,071,966,000	2,224,891,000	2,229,476,000	2,170,138,000	2,153,928,000	2,202,786,000	2,161,086,000	2,129,194,000	2,159,028,000	2,140,696,000	2,159,028,000	1,735,953,000	2,197,348,000		1,735,953,000	1,803,426,000	1,932,425,000	1,842,243,000	1,964,370,000	1,957,784,000	2,063,730,000	2,072,791,000	2,169,476,000	1,941,712,000	1,941,712,000	1,314,155,000	1,314,155,000	1,279,464,000		1,165,359,000	1,165,359,000					1,097,529,000	1,083,053,000	1,091,833,000	1,096,449,000	1,096,449,000	1,105,656,000	1,469,646,000	1,471,716,000	889,915,000	881,926,000	890,794,000	890,794,000	917,637,000	917,637,000	934,079,000	934,079,000			936,517,000		809,861,000
at cost, less accumulated depreciation of 488.3 million		928,907,000
other non-current assets		22,662,000	28,511,000	23,025,000	5,037,000	12,616,000	6,105,000	6,656,000	6,096,000	7,139,000	4,225,000	3,451,000	3,792,000	1,106,000	1,274,000	1,422,000	1,654,000	1,988,000	2,075,000	897,000	1,175,000	1,453,000	1,667,000	1,923,000	910,000	1,010,000	1,074,000	74,000	82,000	113,000	92,000	113,000	139,000	127,000		139,000	155,000	41,000	37,000	107,000	73,000	82,000	452,000	146,000	14,399,000	14,399,000	1,992,000	1,992,000	2,428,000	2,428,000	5,400,000	5,400,000		4,382,000	4,564,000	4,758,000	4,954,000	5,164,000	2,958,000	6,883,000	6,883,000	6,869,000	6,881,000	3,912,000	1,717,000	1,938,000	2,021,000	2,021,000	1,785,000	1,785,000	1,836,000	1,836,000	1,889,000	170,000	1,889,000	1,681,000	1,681,000	176,000	3,422,000	1,867,000	1,580,000	3,396,000	1,835,000	2,160,000	3,367,000	1,947,000	3,437,000	1,842,000	1,912,000	4,089,000	1,992,000	2,064,000	2,731,000	1,574,000
intangible assets at cost, less accumulated amortization of 5.6 million		7,982,000
goodwill		2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	2,426,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000		8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000	8,059,000																										13,310,000	13,310,000	13,310,000	13,310,000	13,310,000		13,310,000	10,908,000	10,908,000		10,908,000	10,908,000	6,761,000	6,761,000	6,761,000	6,761,000	4,670,000	6,761,000	4,670,000	4,670,000	4,670,000		4,670,000	4,670,000
at cost, less accumulated depreciation of 533.7 million			984,124,000
intangible assets at cost, less accumulated amortization of 5.5 million			4,201,000
restricted cash - current				3,673,000				691,000				3,714,000				2,221,000				2,779,000
at cost, less accumulated depreciation of 570.9 million				1,132,109,000
vessels related to finance leases, at cost, less accumulated depreciation of nil
intangible assets at cost, less accumulated depreciation of 5.4 million				307,000
current obligations related to finance leases								20,517,000	20,504,000	28,457,000	41,730,000	60,161,000	59,930,000	59,700,000	47,650,000	27,032,000	20,005,000	139,965,000	198,164,000	78,476,000	26,794,000	26,281,000	25,775,000		24,875,000	24,397,000	20,616,000
long-term obligations related to finance leases								119,082,000	124,216,000	179,549,000	316,728,000	472,599,000	487,775,000	502,868,000	415,530,000	267,449,000	213,811,000	152,792,000	155,797,000	281,567,000	369,278,000	376,238,000	382,905,000		396,059,000	402,539,000	349,137,000
common shares and paid-in capital				1,309,495,000
entities under common control equity																																								12,116,000
at cost, less accumulated depreciation of 553.4 million					1,151,862,000
intangible assets at cost, less accumulated amortization of 5.3 million					390,000
at cost, less accumulated depreciation of 546.0 million						1,090,899,000
intangible assets at cost, less accumulated amortization of 5.2 million						3,918,000
common shares, ...						1,310,441,000	1,309,098,000	1,305,764,000	1,304,801,000	1,304,672,000		1,303,610,000	1,302,727,000	1,301,653,000	1,301,537,000	1,301,102,000	1,300,653,000		1,299,561,000	1,299,220,000	1,298,821,000	1,298,397,000	1,298,023,000	1,297,555,000	1,296,993,000	1,296,751,000	1,296,597,000	1,295,929,000	1,295,709,000		1,295,485,000	1,295,337,000		1,294,998,000		1,143,569,000	1,143,353,000		1,117,232,000	1,103,304,000	1,095,511,000	1,095,322,000	1,095,266,000	1,094,874,000		1,071,520,000		853,671,000				802,650,000		691,227,000	673,966,000	674,013,000	673,217,000	672,839,000	672,744,000	672,648,000	672,648,000	672,560,000		672,573,000	654,426,000	588,441,000		588,441,000		588,488,000		588,573,000			481,336,000		381,673,000			381,673,000	246,753,000		246,753,000	246,781,000		246,800,000		181,245,000	181,245,000		181,245,000	181,245,000
at cost, less accumulated depreciation of 534.1 million							1,099,967,000
intangible assets at cost, less accumulated amortization of 5.1 million							1,844,000
current portion of derivative assets											2,033,000	2,087,000	2,377,000	1,531,000	786,000									577,000	1,878,000	1,229,000	2,277,000	2,905,000	3,075,000	2,315,000	2,728,000	2,315,000	233,000	1,016,000		233,000	116,000		459,000		1,554,000	1,345,000
restricted cash - long-term												3,135,000				3,135,000				3,135,000				3,437,000				3,437,000		2,672,000			2,672,000	2,672,000		2,672,000
at cost, less accumulated depreciation of 440.9 million								929,237,000
vessels related to finance leases, at cost, less accumulated depreciation of 92.4 million								228,973,000
derivative assets												1,622,000	2,111,000	1,673,000	1,878,000	668,000	181,000		167,000					82,000	82,000	240,000	1,829,000	2,973,000	5,531,000	5,750,000	5,797,000	5,750,000	3,022,000	4,226,000		3,022,000	2,920,000	4,538,000	4,434,000	4,538,000	717,000	916,000
intangible assets at cost, less accumulated depreciation of 5.0 million								658,000
restricted cash – long-term											3,135,000		3,135,000	3,135,000	3,135,000		3,135,000	3,135,000	3,135,000		3,437,000	3,437,000	3,437,000		3,437,000	3,437,000	3,437,000		2,672,000		2,672,000	2,672,000
at cost, less accumulated depreciation of 438.2 million									964,046,000
vessels related to finance leases, at cost, less accumulated depreciation of 90.9 million									230,568,000
intangible assets at cost, less accumulated amortization of 5.0 million									752,000
at cost, less accumulated depreciation of 389.7 million										897,512,000
vessels related to finance leases, at cost, less accumulated depreciation of 118.0million										313,105,000
intangible assets at cost, less accumulated amortization of 4.9 million										849,000
restricted cash											3,703,000							2,764,000						3,071,000				2,153,000		1,252,000			1,645,000	1,599,000		1,645,000	1,380,000	750,000	1,089,000	750,000	1,000,000	1,000,000	1,000,000	870,000	915,000	915,000
vessels and equipment – net											680,986,000							1,056,657,000												1,717,348,000			1,283,989,000												1,589,297,000
vessels related to finance leases – net											548,961,000							368,118,000
intangible assets – net											948,000							1,734,000												13,755,000			15,262,000										20,468,000		31,464,000
accounts payable and accrued liabilities											89,880,000							68,038,000												35,725,000			40,109,000					39,489,000							54,350,000		23,965,000		24,398,000		19,464,000																9,936,000		10,557,000		10,030,000		10,073,000			12,270,000			11,919,000			10,330,000			8,766,000		8,691,000			10,110,000			7,743,000
net debt											181,869,000							529,959,000
at cost, less accumulated depreciation of 171.8 million												429,987,000
vessels related to finance leases, at cost, less accumulated depreciation of 290.0 million												823,381,000
intangible assets at cost, less accumulated depreciation of 4.6 million												1,051,000
short-term debt														15,000,000	28,000,000	25,000,000	20,000,000	10,000,000	20,000,000	10,000,000	20,000,000	10,000,000	55,000,000	50,000,000	50,000,000	15,000,000	25,000,000
current portion of long-term debt													22,377,000	11,038,000	11,058,000	15,500,000	34,399,000	10,864,000	10,973,000	10,858,000	10,962,000	27,549,000	29,910,000	43,573,000	101,295,000	101,264,000	101,227,000	106,236,000	103,843,000	153,399,000	155,089,000	153,399,000	159,087,000	166,745,000	38,117,000	159,087,000	150,254,000	171,019,000	155,050,000	171,019,000	155,690,000	151,761,000	158,346,000	174,047,000	477,013,000	477,013,000	144,453,000	144,453,000	147,004,000	147,004,000	41,959,000	41,959,000		46,959,000	51,959,000	20,367,000	25,246,000	25,246,000	25,246,000	25,246,000	25,246,000	25,246,000	25,246,000	25,246,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000	1,800,000		1,800,000	3,600,000	3,600,000	1,800,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000	3,600,000
current portion of derivative liabilities																122,000	571,000	632,000	313,000	289,000	755,000	414,000	234,000	86,000			105,000	57,000			16,000		81,000			81,000	265,000	1,108,000	481,000	1,108,000	1,861,000	3,248,000	3,577,000	6,330,000	6,034,000	6,034,000	7,141,000	7,141,000	6,251,000		7,263,000	7,263,000
long-term debt														35,446,000	110,258,000	304,791,000	343,130,000	282,735,000	214,805,000	232,103,000	204,103,000	285,389,000	446,766,000	516,106,000	507,665,000	491,962,000	590,085,000	629,170,000	703,235,000	791,779,000	778,728,000	791,779,000	486,818,000	785,557,000	301,466,000	486,818,000	671,532,000	761,997,000	690,304,000	761,997,000	810,961,000	892,509,000	930,077,000	990,558,000	545,042,000	545,042,000	530,219,000	530,219,000	564,912,000	564,912,000	614,104,000	614,104,000		593,297,000	557,439,000	745,174,000	719,388,000	720,921,000	704,968,000	706,454,000	706,454,000	710,455,000	706,896,000	700,853,000	291,650,000	347,100,000	347,550,000	347,550,000	348,000,000	348,000,000	348,778,000	348,778,000	452,228,000		452,228,000	415,928,000	415,928,000	10,800,000	321,828,000	321,828,000	300,728,000	301,628,000	301,628,000	302,528,000	314,328,000	303,428,000	325,228,000	314,328,000	325,228,000	317,028,000	316,128,000	317,028,000	144,600,000	145,500,000
accumulated deficit												-233,604,000	-380,031,000	-448,084,000	-476,632,000	-462,690,000	-422,882,000		-241,683,000	-220,318,000	-147,032,000	-102,598,000	-200,796,000	-307,635,000	-370,706,000	-350,856,000	-336,549,000	-348,996,000	-360,498,000		-343,015,000	-315,602,000		-288,397,000		-281,141,000	-253,384,000		-184,816,000	-182,680,000	-184,837,000	-170,005,000	-178,433,000	-217,413,000		-233,245,000		-270,849,000		-311,633,000		-346,927,000		-365,208,000	-361,275,000	-363,354,000	-388,545,000	-400,167,000	-383,069,000	-374,837,000	-374,837,000	-370,377,000	-12,176,000		-103,637,000	-99,070,000		-89,323,000		-59,196,000		-45,169,000			-38,647,000		-37,175,000				-43,727,000			-43,602,000		-29,154,000		-62,638,000	-58,939,000		-31,344,000	-28,404,000
at cost, less accumulated depreciation of 167.2 million													434,858,000
vessels related to finance leases, at cost, less accumulated depreciation of 274.2 million													835,127,000
intangible assets at cost, less accumulated amortization of 4.5 million													1,157,000
at cost, less accumulated depreciation of 164.5 million														439,021,000
vessels related to finance leases, at cost, less accumulated depreciation of 263.8 million														842,934,000
intangible assets at cost, less accumulated amortization of 4.4 million														1,266,000
at cost, less accumulated depreciation of 222.7 million															656,525,000
vessels related to finance leases, at cost, less accumulated depreciation of 186.6 million															662,020,000
intangible assets at cost, less accumulated amortization of 4.3 million															1,378,000
at cost, less accumulated depreciation of 271.9 million																925,249,000
vessels related to finance leases, at cost, less accumulated depreciation of 112.9 million																411,749,000
intangible assets at cost, less accumulated depreciation of 4.2 million																1,494,000
derivative liabilities																				597,000	717,000	789,000	494,000		49,000																2,763,000	5,177,000	3,039,000	4,208,000		7,657,000		8,100,000				10,962,000
at cost, less accumulated depreciation of 292.7 million																	1,073,465,000
vessels related to finance leases, at cost, less accumulated depreciation of 89.4 million																	329,846,000
intangible assets at cost, less accumulated amortization of 4.1 million																	1,612,000
at cost, less accumulated depreciation of 437.1 million																			1,085,289,000
vessels related to finance leases, at cost, less accumulated depreciation of 131.3 million																			444,793,000
intangible assets at cost, less accumulated amortization of 3.8 million																			1,860,000
at cost, less accumulated depreciation of 417.4 million																				1,104,742,000
vessels related to finance leases, at cost, less accumulated depreciation of 124.4 million																				450,558,000
intangible assets at cost, less accumulated depreciation of 3.7 million																				1,989,000
liabilities associated with assets held for sale																							2,535,000	2,980,000
at cost, less accumulated depreciation of 496.4 million																					1,131,742,000
vessels related to finance leases, at cost, less accumulated depreciation of 126.9 million																					484,776,000
intangible assets at cost, less accumulated amortization of 3.6 million																					2,122,000
at cost, less accumulated depreciation of 563.8 million																						1,161,097,000
vessels related to finance leases, at cost, less accumulated depreciation of 159.0 million																						511,879,000
intangible assets at cost, less accumulated amortization of 3.4 million																						2,259,000
at cost, less accumulated depreciation of 535.3 million																							1,157,003,000
vessels related to finance leases, at cost, less accumulated depreciation of 151.1 million																							519,210,000
intangible assets at cost, less accumulated amortization of 13.2 million																							2,401,000
pool receivables from affiliates																												56,549,000						15,550,000	4,780,000					24,598,000				62,735,000								35,254,000					10,765,000			8,929,000	8,929,000	9,101,000	8,611,000	12,809,000	6,049,000	2,664,000		1,463,000		2,612,000		6,212,000			8,606,000		4,224,000			6,376,000	6,412,000		10,427,000	2,496,000
accounts receivable, including affiliate balances of nil																								95,648,000								15,520,000
vessels and equipment at cost, less accumulated depreciation of 537.1 million																								1,223,085,000
vessels related to finance leases at cost, less accumulated depreciation of 143.7 million																								527,081,000
operating lease right-of-use asset																								19,560,000
investment in and advances to equity-accounted for investment																								28,112,000			26,520,000
intangible assets at cost, less accumulated depreciation of 13.1 million																								2,545,000
accounts payable, including affiliate balances of nil																								70,978,000	54,824,000		26,662,000							7,860,000
current obligation related to finance leases																								25,357,000
current obligation of operating lease liabilities																								16,290,000
long-term obligation related to finance leases																								389,431,000
pool receivable from affiliates																									562,000	15,330,000	31,535,000		26,923,000	13,693,000	24,714,000	13,693,000	8,673,000			8,673,000	9,084,000	24,598,000	22,075,000		14,073,000	30,396,000	45,307,000		36,114,000	36,114,000	36,185,000	36,185,000	36,774,000	36,774,000	35,254,000			18,669,000	13,699,000	13,025,000		7,962,000	7,481,000																											6,058,000
accounts receivable, including affiliate balances of 0.8 million																									52,245,000									19,288,000						33,789,000
at cost, less accumulated depreciation of 551.3 million																									1,310,541,000
vessels related to finance leases, at cost, less accumulated depreciation of 136.1 million																									525,597,000
intangible assets at cost, less accumulated amortization of 12.5 million																									9,955,000
accounts receivable, including affiliate balances of 1.7 million																										51,451,000
at cost, less accumulated depreciation of 531.0 million																										1,327,480,000
vessels related to finance leases, at cost, less accumulated depreciation of 128.1 million																										529,286,000
intangible assets at cost, less accumulated amortization of 12.0 million																										10,498,000
accounts payable, including affiliate balances of 0.1 million																										47,532,000
accounts receivable, including affiliate balances of 3.9 million																											29,946,000
at cost, less accumulated depreciation of 517.7 million																											1,388,464,000
vessels related to finance leases at cost, less accumulated depreciation of 117.9 million																											475,962,000
intangible assets at cost, less accumulated amortization of 11.0 million																											11,055,000
accounts receivable, including affiliate balances of 2.1 million																												17,365,000
vessels and equipment at cost, less accumulated depreciation of 494.4 million																												1,401,551,000
vessels related to capital leases at cost, less accumulated depreciation of 111.3 million																												482,010,000
investment in and advances to equity-accounted for investments																												25,766,000
intangible assets at cost, less accumulated depreciation of 10.9 million																												11,625,000
accounts payable, including affiliate balances of 0.6 million																												11,146,000
current obligation related to capital leases																												20,896,000	15,839,000	7,338,000	7,454,000	7,338,000	7,098,000	7,227,000		7,098,000
deferred revenue																													89,000	3,242,000	61,000	3,242,000	2,955,000	557,000	1,212,000	2,955,000	6,174,000	4,394,000	4,673,000	4,394,000	1,955,000	475,000	1,105,000	2,676,000			398,000	398,000	1,095,000	1,095,000	637,000	637,000		1,739,000		423,000	2,961,000	1,090,000	1,302,000	1,970,000	1,970,000	4,564,000	2,121,000	3,639,000	2,766,000	1,777,000		1,712,000		2,839,000		3,403,000			2,028,000		2,796,000			3,094,000	2,912,000		3,572,000	2,849,000		2,785,000		4,676,000	4,706,000
long-term obligation related to capital leases																												354,393,000	280,871,000	139,830,000	137,951,000	139,830,000	143,858,000	141,681,000		143,858,000
accounts receivable, including affiliate balances of 0.2 million																													17,048,000		15,912,000
vessels and equipment at cost, less accumulated depreciation of 550.1 million																													1,556,959,000
vessels related to capital leases at cost, less accumulated depreciation of 38.7 million																													340,961,000
investment in and advances to equity accounted investments																													24,811,000			25,240,000		25,460,000			43,201,000		83,284,000	70,651,000	78,771,000	77,862,000	75,622,000	86,808,000	81,328,000	81,328,000	79,566,000	79,566,000	75,979,000	75,979,000	73,397,000	73,397,000
intangible assets at cost, less accumulated amortization of 10.2 million																													12,320,000
high-q joint venture																														-70,000			735,000					793,000							663,000		828,000		545,000		929,000
tanker investments ltd.																																	-322,000					333,000							1,083,000		1,645,000		1,770,000		250,000
fair value adjustment of
gemini tankers l.l.c.
total equity income																														-70,000			1,804,000					2,011,000							2,762,000		3,587,000		2,582,000		1,007,000
as at
vessels related to capital leases – net																														224,791,000			230,696,000
investment in and advances to equity-accounted
investments																														25,240,000			42,927,000					81,273,000
vessels and equipment at cost, less accumulated depreciation of 563.0 million																															1,695,722,000
vessels related to capital leases at cost, less accumulated depreciation of 31.4 million																															221,825,000
investment in and advances to equity-accounted investments																															25,170,000
intangible assets at cost, less accumulated amortization of 9.5 million																															13,030,000
vessels and equipment at cost, less accumulated depreciation of 537.6 million																																1,717,348,000
vessels related to capital leases at cost, less accumulated depreciation of 28.4 million																																224,791,000
intangible assets at cost, less accumulated amortization of 8.7 million																																13,755,000
accounts payable, including affiliate balances of 1.9 million																																3,851,000
vessels held for sale																																	6,400,000			6,400,000		33,802,000	7,500,000	33,802,000																144,000,000						9,114,000
investment in and advances to equity accounted
vessels and equipment at cost, less accumulated depreciation of 512.0 million																																		1,737,792,000
vessels related to capital leases at cost, less accumulated depreciation of 25.4 million																																		227,722,000
intangible assets - net																																		14,605,000				17,658,000		17,658,000	18,491,000	19,342,000		29,619,000		31,464,000
prepaid expenses and other current assets																																			7,208,000																																							261,000				262,000
at cost, less accumulated depreciation of 91.5 million																																			713,458,000
liabilities and stockholders’ equity
accrued liabilities and other																																			9,217,000
stockholders’ equity																																																																			499,118,000		529,292,000		543,404,000		442,689,000			344,498,000			359,526,000			206,271,000			118,607,000		122,306,000			148,171,000			155,108,000
common stock																																			31,000
preferred stock																																			1,000
additional paid-in capital																																			322,687,000
retained earnings																																			99,802,000
total stockholders’ equity																																			422,521,000																			326,019,000	312,691,000	310,659,000																									203,026,000			203,179,000		217,646,000		118,607,000			149,901,000	152,841,000
total liabilities and stockholders’ equity																																			783,435,000																			1,026,491,000	977,499,000	1,134,221,000																	936,517,000			809,861,000			722,558,000		537,269,000	539,963,000		542,675,000	472,843,000	555,890,000	488,937,000	472,843,000		490,585,000	491,859,000	495,255,000	325,803,000
vessels and equipment at cost, less accumulated depreciation of 489.1 million																																				1,283,989,000
vessels related to capital leases at cost, less accumulated depreciation of 22.5 million																																				230,696,000
investments in and advances to equity accounted investments																																				42,927,000
intangible assets at cost, less accumulated amortization of 7.2 million																																				15,262,000
vessels and equipment at cost, less accumulated depreciation of 500.3 million																																					1,554,055,000
intangible assets at cost, less accumulated amortization of 6.5 million																																					16,044,000
teekay tanker operations ltd.																																						885,000							1,016,000		1,114,000		267,000		-172,000
current portion of derivative asset																																						875,000		875,000
vessels and equipment - net																																						1,605,372,000
vessels and equipment at cost, less accumulated depreciation of 476.8 million																																							1,574,375,000
intangible assets at cost, less accumulated amortization of 5.7 million																																							16,843,000
vessels and equipment at cost, less accumulated depreciation of 459.3 million																																								1,605,372,000
accounts payable, including affiliate balances of 1.1 million																																								14,406,000
current portion of deferred gains																																								61,000
current portion of in-process revenue contracts																																												1,223,000	2,143,000	2,143,000
vessel held for sale																																									13,151,000	14,000,000			10,092,000	10,092,000																																			16,725,000
at cost, less accumulated depreciation of 449.6 million																																									1,664,859,000
at cost, less accumulated depreciation of 432.5 million																																										1,706,288,000
at cost, less accumulated depreciation of 415.8 million																																											1,746,180,000
derivative asset																																											3,053,000	5,164,000	5,421,000	5,421,000	5,526,000	5,526,000	4,617,000	4,617,000	4,657,000	4,657,000		3,568,000	4,026,000
at cost, less accumulated depreciation of 391.0 million																																												1,767,925,000
dilution gain in respect of the initial public offering of tanker investments ltd.
prepaid assets																																													30,169,000		13,656,000		18,030,000		8,883,000
at cost, less accumulated depreciation of 343.0 million																																														1,589,297,000
at cost, less accumulated depreciation of 330.5 million																																																1,035,311,000
at cost, less accumulated depreciation of 315.2 million																																																		1,047,231,000
liabilities and shareholders’ equity
current portion of derivative instruments																																																		6,251,000				6,309,000	7,482,000	6,377,000	7,344,000	6,219,000	7,184,000	6,251,000	6,251,000	7,200,000	6,228,000	6,926,000	4,225,000	4,027,000	4,306,000	4,306,000	4,586,000	4,586,000	4,530,000	4,530,000	4,509,000		4,509,000	4,503,000	4,503,000		3,723,000			3,865,000	3,865,000		3,352,000		2,716,000		2,716,000	1,789,000	1,239,000	1,789,000
derivative instruments																																																		11,055,000				13,162,000	15,418,000	5,857,000	17,924,000	20,536,000	19,540,000	25,749,000	25,749,000	26,431,000	31,137,000	28,543,000	18,903,000	20,151,000		20,569,000		15,157,000		12,356,000			14,339,000		20,286,000						10,028,000						20,210,000		7,876,000	5,970,000		7,815,000
shareholders’ equity
common share and additional paid-in capital																																																		816,657,000
total shareholders’ equity																																																		505,024,000
total liabilities and shareholders’ equity																																																		1,279,464,000
investment in term loans																																																									136,061,000	114,096,000	122,841,000	118,060,000	118,060,000	117,820,000	117,581,000	117,347,000	117,091,000	116,844,000	116,629,000	116,629,000	116,418,000	116,418,000	116,184,000	116,184,000	116,014,000		116,014,000	115,775,000	115,775,000
at cost, less accumulated depreciation of 301.6 million																																																				828,291,000
cash																																																																			14,104,000		16,566,000		20,268,000		12,450,000			11,244,000			8,653,000			10,432,000			22,412,000		26,698,000				16,873,000
loan to equity accounted investment																																																						8,680,000	8,680,000	8,680,000
equity accounted investments																																																						54,465,000	35,975,000	35,960,000
at cost, less accumulated depreciation of 288.8 million																																																						838,139,000
at cost, less accumulated depreciation of 276.3 million																																																							841,013,000
at cost, less accumulated depreciation of 263.9 million																																																								848,988,000
at cost, less accumulated depreciation of 251.4 million																																																									859,308,000
loan to joint venture																																																									9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000	9,830,000		9,830,000
investment in joint venture																																																									8,366,000	7,802,000	7,289,000						492,000
at cost, less accumulated depreciation of 239.3 million																																																										861,377,000
interest receivable on investment in term loans																																																												4,032,000	4,032,000	1,565,000	1,754,000	1,754,000	1,639,000	1,754,000		1,811,000		1,783,000		1,696,000			1,811,000
at cost, less accumulated depreciation of 227.4 million																																																											867,035,000
other long-term debt																																																											4,902,000
vessels and equipment at cost, less accumulated depreciation of 215.4 million																																																												876,762,000	876,762,000
at cost, less accumulated depreciation of 203.6 million																																																														885,992,000
dropdown predecessor equity
at cost, less accumulated depreciation of 445.2 million																																																															1,266,594,000
class a and 12.5 million class b shares issued and outstanding as of september 30, 2012, and 39.5 million class a and 12.5 million class b issued and outstanding as of december 31, 2011)																																																															672,560,000
at cost, less accumulated depreciation of 427.4 million																																																																1,275,672,000
investment in joint ventures																																																																3,148,000
retained earnings /																																																																6,937,000
vessels and equipment at cost, less accumulated depreciation of 257.7 million																																																																	706,328,000
at cost, less accumulated depreciation of 247.0 million																																																																		716,567,000
pool receivable from related parties																																																																			1,463,000		2,612,000		6,212,000		8,606,000			4,224,000			6,376,000						5,870,000			5,870,000	7,800,000		16,866,000
interest receivable																																																																			1,811,000		1,783,000		1,696,000		1,811,000				1,783,000
at cost, less accumulated depreciation of 236.2 million																																																																				726,766,000
vessels and equipment at cost, less accumulated depreciation of 225.4 million																																																																						737,096,000
vessels and equipment at cost, less accumulated depreciation of 214.6 million																																																																								746,980,000
due from affiliates — current																																																																										27,753,000
vessel and equipment
at cost, less accumulated depreciation of 9,075																																																																										31,975,000
liabilities and owner’s equity
voyage and vessel																																																																										359,000				295,000
interest																																																																														118,000
payroll and benefits to related party																																																																										97,000				159,000
due to affiliates — current																																																																										58,745,000
owner’s equity																																																																										331,000				7,796,000
total owner’s equity																																																																										331,000				7,796,000
total liabilities and owner’s equity																																																																										60,159,000				54,489,000
vessels and equipment at cost, less accumulated depreciation of 203.8 million																																																																											757,437,000
non-current amounts due from affiliates																																																																											2,873,000		1,664,000			1,907,000	1,561,000		1,561,000	2,086,000		2,056,000
at cost, less accumulated depreciation of 169.3 million																																																																													654,853,000
due from affiliates – current																																																																														19,253,000
at cost, less accumulated depreciation of 7,568																																																																														34,798,000
due to affiliates – current																																																																														32,508,000
asset held for sale
vessels and equipment at cost, less accumulated depreciation of 166.4 million																																																																																679,803,000
liabilities and stockholders’ equity / owner’s equity
current portion of derivative instrument																																																																																3,723,000	3,965,000			3,870,000		3,607,000		3,352,000
derivative instrument																																																																																16,878,000	11,261,000			13,399,000		10,363,000		17,191,000
stockholders’ equity / owner’s equity
retained earnings (accumulated deficit) and owner’s equity in dropdown predecessor																																																																																-22,241,000
total stockholders’ equity / owner’s equity																																																																																359,432,000
total liabilities and stockholders’ equity / owner’s equity																																																																																722,557,000														310,324,000
vessels and equipment at cost, less accumulated depreciation of 125.4 million																																																																																	483,549,000
pool receivables from related parties																																																																																		10,427,000
at cost, less accumulated depreciation of 135,669																																																																																			506,309,000
liabilities and stockholders’/owner’s equity
current accounts payable																																																																																			2,043,000											787,000
stockholders’ equity/owner’s equity
accumulated deficit and owner’s equity in dropdown predecessor																																																																																			-40,482,000
total stockholders’ equity/owner’s equity																																																																																			206,271,000						122,306,000
total liabilities and stockholders’ equity/owner’s equity																																																																																			539,963,000						490,810,000
at cost, less accumulated depreciation of 131.0 million																																																																																				511,942,000
at cost, less accumulated depreciation of 125.1 million																																																																																						511,008,000
accounts receivable and pool receivable from related parties																																																																																							9,100,000
due from related parties																																																																																								4,433,000	9,995,000
at cost, less accumulated depreciation of 110.2 million																																																																																								428,721,000
non-current amounts due from related parties																																																																																								1,525,000	1,525,000		2,025,000
due to related parties																																																																																								1,388,000	2,305,000
at cost, less accumulated depreciation of 104,508																																																																																									433,978,000
liabilities and stockholders’ equity/owner’s equity
accumulated other comprehensive income																																																																																														912,000
accounts receivable and due from pools																																																																																										23,392,000
advances from affiliates																																																																																										3,094,000		3,094,000
other assets																																																																																											947,000	294,000		10,000
at cost, less accumulated depreciation of 98.6 million																																																																																											436,354,000
other																																																																																											422,000	451,000
due from pools																																																																																												18,650,000
at cost, less accumulated depreciation of 92.8 million																																																																																												441,135,000
accounts receivable and due from pool																																																																																													11,333,000
current cash and cash equivalents																																																																																														34,839,000
due from teekay pool																																																																																														1,600,000
stockholders' equity / owner’s equity common stock and additional paid-in capital																																																																																														180,915,000
deficit																																																																																														-33,033,000
total stockholders' equity / owner’s equity																																																																																														148,794,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-05-07	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-05-13	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-05-21	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-05-23	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-06-30	2017-05-18	2017-03-31	2016-11-03	2016-08-04	2016-06-30	2016-05-19	2016-03-31	2015-12-31	2015-08-06	2015-06-30	2015-05-14	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-05-15	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-05-31	2013-05-09	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-05-25	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-11-12	2010-08-11	2010-06-30	2010-03-31	2010-03-05	2009-12-31	2009-07-23	2009-06-30	2009-05-15	2009-03-31	2008-11-25	2008-09-30	2008-06-30	2008-03-31

cash, cash equivalents and restricted cash from
operating activities
net income	92,079,000	62,614,000	76,032,000	76,032,000	93,111,000	58,815,000	106,970,000	144,771,000	111,694,000	81,366,000	151,243,000	169,368,000	146,427,000	68,053,000			-39,808,000	-52,055,000	-129,144,000	-21,365,000	-21,365,000	-73,286,000	-44,434,000	98,198,000	106,839,000	106,839,000				12,447,000	12,447,000				-19,153,000	-22,380,000	-36,592,000	2,828,000	2,828,000					38,980,000					38,985,000	20,259,000	5,862,000			26,432,000				-1,953,000		-1,953,000					4,137,000	-104,475,000	-17,133,000	1,442,000	7,091,000		2,121,000	3,199,000	5,080,000	7,916,000	7,916,000	14,133,000			14,133,000	22,005,000	19,561,000	19,084,000	14,038,000
non-cash items:
depreciation and amortization	20,932,000	20,944,000	23,240,000	23,240,000	24,446,000	23,445,000	22,373,000	23,318,000	24,627,000	24,565,000	24,384,000	23,975,000	24,459,000	24,251,000	25,243,000	25,080,000	26,668,000	25,837,000	26,895,000	26,684,000	26,684,000	28,042,000	29,992,000	29,546,000	29,632,000	29,632,000	31,943,000	31,536,000	30,658,000	29,865,000	29,865,000	29,916,000	29,595,000	29,573,000	29,430,000	24,328,000	24,415,000	24,909,000	24,909,000			25,621,000	27,067,000	27,067,000		15,227,000	15,227,000	13,672,000	13,672,000	12,774,000	12,451,000	12,425,000	12,502,000	12,502,000	12,113,000	11,935,000	11,921,000	11,864,000	11,864,000	11,864,000		17,896,000	25,300,000	10,738,000	10,738,000	42,108,000	10,797,000	10,793,000	10,784,000	9,722,000	9,781,000	12,477,000	7,392,000	7,493,000	7,493,000	5,955,000	8,344,000	5,917,000	5,955,000	5,430,000	5,823,000	7,714,000	3,489,000
gain on sale and write-down of assets	-25,890,000	-13,895,000	-38,163,000	-38,163,000
equity income and gain on distribution from equity-accounted investment
provision for uncertain tax position
other	-6,951,000	6,716,000	5,730,000	5,730,000	-3,068,000	2,914,000	3,288,000	3,445,000	2,115,000	1,697,000	-836,000	3,152,000	2,680,000	-932,000	-396,000	2,865,000	927,000	697,000	878,000	-500,000	-500,000	1,405,000	3,835,000	-752,000	744,000	744,000	354,000	-2,848,000	-504,000	7,042,000	7,042,000	3,498,000	2,699,000	2,244,000	3,223,000	2,273,000	3,657,000	2,897,000	2,897,000	-111,000	94,000	5,346,000	650,000	3,018,000		-14,000	-145,000	895,000	562,000	417,000	432,000	-2,332,000	7,000	-2,427,000	-229,000	-114,000	535,000	438,000	-10,000	438,000	1,099,000	303,000			127,000	541,000	-188,000	100,000	100,000			-560,000	184,000
change in operating assets and liabilities	11,874,000	7,007,000	-6,035,000	-6,035,000	11,303,000	36,349,000	19,085,000	-23,591,000	13,570,000	23,596,000	19,001,000	-28,946,000	-25,152,000	-29,036,000	-33,265,000	-24,771,000	-24,998,000	-2,245,000	7,164,000	-30,037,000	-30,037,000	17,291,000	12,250,000	61,687,000	-1,308,000	-1,308,000	-49,117,000	-4,513,000	16,933,000	6,265,000	6,265,000	-37,550,000	-20,770,000	12,885,000	-9,517,000	-6,039,000	15,523,000	-3,366,000	-3,366,000					-5,531,000					-8,009,000	-22,825,000	-1,178,000			-23,143,000	5,746,000	-19,301,000	14,638,000	-7,669,000		-7,669,000
expenditures for dry docking	-4,568,000	-7,120,000	-667,000	-667,000	-8,862,000	-12,466,000	-6,446,000	-721,000	-10,021,000	-3,976,000	-768,000	-1,465,000	-3,219,000	-7,416,000	-1,650,000	-2,138,000	-3,661,000	-10,711,000	-9,557,000	-3,045,000	-3,045,000	-15,250,000	-5,724,000	-2,572,000	-1,109,000	-1,109,000	-10,820,000	-9,615,000	-17,382,000	-10,433,000	-10,433,000	-10,937,000	-10,310,000	-1,433,000	-5,292,000	-3,031,000	-2,637,000	-780,000	-780,000					-2,187,000					-1,996,000	-2,312,000	-8,965,000			-1,817,000	-9,553,000	-5,996,000	-1,661,000	-2,035,000		-2,035,000
net operating cash flow	74,873,000	72,441,000	57,624,000	57,624,000	87,568,000	108,311,000	146,375,000	129,658,000	132,357,000	123,504,000	202,892,000	167,319,000	145,093,000	46,320,000	16,521,000	-14,669,000	-25,335,000	-38,402,000	-18,260,000	-27,445,000	-27,445,000	132,000	42,940,000	166,186,000	138,685,000	138,685,000	54,878,000	-1,583,000	18,145,000	46,221,000	46,221,000	-1,818,000	-15,915,000	15,296,000	-4,826,000	3,041,000	35,118,000	28,783,000	28,783,000	181,455,000	103,593,000	47,872,000	55,721,000	55,721,000	26,254,000	87,036,000	47,281,000	39,755,000	39,755,000	4,971,000	4,019,000	-249,000	4,862,000	4,862,000	5,882,000	-17,638,000	18,944,000	-986,000	-986,000	-986,000	7,200,000	13,170,000	763,000	7,637,000	7,637,000	-18,986,000	11,496,000	13,539,000	17,971,000	48,460,000	31,814,000	13,146,000	12,071,000	59,464,000	18,851,000	25,847,000	-35,325,000	77,573,000	25,847,000	24,386,000	22,178,000	12,263,000	14,633,000
financing activities
scheduled repayments of obligations related to finance leases					0	0	0	-5,213,000	-5,213,000	-7,235,000	-8,268,000	-13,397,000	-15,188,000	-15,102,000	-13,628,000	-6,718,000	-7,561,000	-2,221,000	-4,480,000	-6,082,000	-6,082,000	-6,433,000	-6,447,000	-6,161,000	-6,108,000	-6,108,000	-6,146,000	-6,002,000			-5,537,000
prepayment of obligations related to finance leases					0	0	0	-136,955,000	0	-57,182,000	-142,767,000	-164,252,000					0	-128,790,000
issuance of common shares upon exercise of stock options	0	624,000	872,000	872,000	37,000
cash dividends paid	-8,635,000	-43,131,000	-8,596,000	-8,596,000	-8,589,000	-8,580,000	-77,090,000	-8,560,000	-8,523,000	-8,516,000																						0	0	0	-8,052,000	-5,377,000	-4,961,000	-4,964,000	-4,964,000	-42,159,000	-32,782,000	-14,058,000	-18,724,000	-18,724,000	-4,620,000	-6,909,000	-3,457,000	-3,452,000	-3,452,000	-2,637,000	-2,510,000	-2,510,000	-2,508,000	-2,508,000	-2,508,000	-2,507,000	-2,508,000	-2,507,000	-2,507,000	-2,507,000	-1,672,000	-9,195,000	-12,660,000	-8,704,000	-8,704,000	-9,282,000	-12,994,000	-15,469,000	-13,613,000	-39,128,000	-24,375,000	-16,055,000	-8,320,000	-50,350,000	-4,850,000	-18,000,000	36,875,000	-69,625,000	-18,000,000	-20,375,000	-22,500,000
net financing cash flow	-8,635,000	-42,960,000	-8,527,000	-8,527,000	-105,755,000	-10,668,000	-78,943,000	-148,032,000	-13,736,000	-73,799,000	-199,570,000	-177,649,000	-37,686,000	-55,380,000	9,507,000	-29,489,000	7,793,000	34,282,000	-4,062,000	-13,932,000	-13,932,000	-18,837,000	-96,078,000	-216,076,000	-85,113,000	-85,113,000	-56,161,000	43,949,000	-52,043,000	-25,503,000	-25,503,000	5,862,000	23,011,000	-14,199,000	-18,122,000	-33,988,000	-29,318,000	-80,093,000	-80,093,000	-243,485,000	-155,555,000	-59,155,000	-96,400,000	-96,400,000	68,864,000	61,678,000	-3,438,000	65,116,000	65,116,000	124,360,000	28,348,000	-158,653,000	19,666,000	19,666,000	-4,041,000	13,446,000	-3,994,000	-6,508,000	-6,508,000	-6,508,000	-6,504,000	-4,651,000	-5,459,000	1,481,000	1,831,000	23,643,000	-13,491,000	-16,332,000	-9,826,000	37,199,000	-48,593,000	-32,512,000	-9,223,000	-69,467,000	-22,843,000	-29,435,000	34,739,000	-82,445,000	-29,435,000	76,461,000	-23,400,000	-36,305,000	-4,887,000
investing activities
proceeds from sale of vessels	97,777,000	63,251,000	120,834,000	120,834,000										25,126,000	28,518,000	16,002,000				32,687,000	32,687,000				60,915,000	60,915,000													32,626,000												0
distribution from equity-accounted joint venture
expenditures for vessels and equipment	-938,000	-692,000	-306,000	-306,000	-295,000	-695,000	-3,281,000	-570,000	-4,223,000	-3,275,000	-2,258,000	-442,000	-3,919,000	-4,097,000	-3,343,000	-4,071,000	-6,279,000	-7,931,000	-6,324,000	-913,000	-913,000	-7,144,000	-5,805,000	-2,234,000	-842,000	-842,000	-4,418,000	-665,000	-5,889,000	-656,000	-656,000	-2,364,000	-1,256,000	-585,000	-1,622,000	-875,000	-768,000	-1,860,000	-1,860,000	-6,728,000	-3,937,000	-1,573,000	-2,364,000	-2,364,000	-5,761,000	-228,190,000	-1,274,000	-226,916,000	-226,916,000	-614,000	-612,000	-472,000	-365,000	-365,000	-415,000	-281,000	-533,000	-675,000	-675,000	-675,000	-419,000	-700,000	-900,000	-499,000	-499,000	-2,634,000	-467,000	-909,000	-327,000	-4,668,000	-2,807,000	-1,679,000	-1,128,000	-6,263,000	1,028,000	-698,000	-396,000	-3,269,000	-698,000	-810,000	-1,611,000	-729,000	-108,000
loan repayments from equity-accounted joint venture					0				0	2,000,000							0	0				0	1,150,000	1,500,000	2,000,000	2,000,000
purchase of marketable securities	0	0	-2,348,000	-2,348,000
proceeds from sale of marketable securities
purchase of short-term investments	0
proceeds from short-term investments
vessel acquisitions
net investing cash flow	48,363,000	-55,146,000	111,880,000	111,880,000	44,017,000	-61,645,000	-10,335,000	22,855,000	19,338,000	-1,275,000	-358,000	-442,000	-3,919,000	21,029,000	22,175,000	11,931,000	7,136,000	4,057,000	-4,824,000	31,774,000	31,774,000	-7,144,000	6,023,000	13,565,000	62,073,000	62,073,000	15,590,000	-665,000	-5,889,000	-656,000	-656,000	-2,364,000	-1,256,000	4,000	-876,000	4,298,000	7,842,000	30,766,000	30,766,000	24,850,000	13,563,000	927,000	12,636,000	12,636,000	-79,280,000	-228,429,000	-1,274,000	-227,155,000	-227,155,000	-12,900,000	-7,765,000	153,528,000	-23,036,000	-23,036,000	-5,363,000	-4,348,000	-4,288,000	8,199,000	8,199,000	8,199,000	-653,000	-775,000	-3,935,000	-499,000	-849,000	-2,634,000	-467,000	-909,000	-327,000	-84,847,000	15,000,000	15,867,000	-1,128,000	-6,263,000	1,028,000	-698,000	-396,000	-3,269,000	-698,000	-115,980,000	-1,611,000	-729,000	-108,000
increase in cash, cash equivalents and restricted cash	114,601,000	-25,665,000	160,977,000	160,977,000	25,830,000	35,998,000	57,097,000	4,481,000	137,959,000	48,430,000			103,488,000	11,969,000			-10,406,000	-63,000	-27,146,000	-9,603,000	-9,603,000	-25,849,000	-47,115,000	-36,325,000	115,645,000	115,645,000	14,307,000			20,062,000	20,062,000
cash, cash equivalents and restricted cash, beginning of the period	0	0	515,561,000	515,561,000		0	0	365,942,000		0	0	187,361,000		0	0	55,928,000	0	0			103,146,000		0	0	96,790,000	96,790,000		0	0	60,507,000	60,507,000		0	0	75,710,000
cash, cash equivalents and restricted cash, end of the period	114,601,000	-25,665,000	676,538,000	676,538,000		35,998,000	57,097,000	370,423,000		48,430,000	2,964,000	176,589,000		11,969,000	48,203,000	23,701,000	-10,406,000	-63,000			93,543,000		-47,115,000	-36,325,000	212,435,000	212,435,000		41,701,000	-39,787,000	80,569,000	80,569,000		5,840,000	1,101,000	51,886,000
equity income		-659,000	-230,000	-230,000	-615,000	121,000	-905,000	-1,368,000														74,000	-46,000	-3,188,000	-1,940,000	-1,940,000		-68,000	169,000	-753,000	-753,000				-694,000			-2,011,000	-2,011,000			-4,740,000	-3,814,000	-3,814,000		-3,587,000	-3,587,000	-2,582,000	-2,582,000				-2,594,000
income tax recovery		-3,166,000	-2,283,000	-2,283,000										903,000				-1,284,000
deposit for vessel purchase			-6,300,000	-6,300,000
vessel acquisition					0
unrealized loss on derivative instruments									0	0	3,125,000	584,000					-833,000	-211,000	352,000	-740,000		-490,000	172,000	475,000	1,301,000	1,301,000		-406,000	2,578,000	1,788,000	1,788,000		-4,000			-310,000					2,600,000	-5,539,000	6,328,000			-2,975,000										30,000						1,895,000				-17,265,000	5,132,000	2,857,000	-1,962,000
income tax (recovery) expense						-867,000	2,010,000	-4,595,000
proceeds from short-term debt									0	0	25,000,000	25,000,000	0	60,000,000	51,000,000	23,000,000	15,000,000	10,000,000	15,000,000	10,000,000	10,000,000	0	30,000,000	70,000,000	135,000,000	135,000,000	75,000,000	60,000,000	35,000,000	30,000,000	30,000,000
prepayments of short-term debt									0	0	-25,000,000	-25,000,000	0	-75,000,000	-64,000,000	-20,000,000	-10,000,000	0				-10,000,000	-20,000,000			-130,000,000		-25,000,000
proceeds from long-term debt									0	0																																								25,899,000	40,950,000	949,000	30,998,000	30,998,000	5,998,000	26,045,000	26,045,000	1,091,000	1,091,000	1,091,000	17,226,000	10,000,000				0	0											125,000,000		115,000,000	0
issuance costs related to long-term debt
prepayments of long-term debt									0	0			-22,458,000	-22,459,000	-73,167,000	-149,508,000	-55,000,000	-65,000,000	0	-15,000,000	-15,000,000	0	-165,127,000	-160,000,000	-557,368,000	-557,368,000		0			-20,000,000																																	-55,000,000						-20,000,000				-20,000,000	0
distribution from entities under common control to teekay corporation ltd.
acquisition of australian operations and management service companies from teekay corporation ltd.
income tax expense									1,248,000	-3,078,000	7,863,000	1,781,000								484,000	484,000				1,439,000	1,439,000
scheduled repayments of long-term debt													0	-2,808,000	-2,807,000	-51,299,000	-2,807,000	-2,807,000	-2,807,000	-2,808,000	-2,808,000	-2,808,000	-1,554,000	-3,084,000	-5,728,000	-5,728,000		-25,416,000	-25,400,000	-25,400,000	-25,400,000																																																				-900,000
proceeds from financings related to sale and leaseback of vessels, net of issuance costs
advances to equity-accounted joint venture														0
cash, cash equivalents and restricted cash, beginning of the year																				103,146,000
cash, cash equivalents and restricted cash, end of the year																				93,543,000
gain on sale of vessel						0	0	-11,601,000
proceeds from sale of vessel						0	0	23,425,000
issuance of common stock upon exercise of stock options							72,000	2,786,000
loss on sale and write-down of assets
equity loss									-516,000	-666,000	-1,120,000	-1,130,000	-1,708,000	-221,000	931,000	754,000	12,046,000	873,000	829,000	359,000	359,000											-955,000	359,000																					-2,594,000
proceeds from sale of assets																	13,415,000	11,988,000				0	10,678,000
(gain) on sale and write-down of assets
issuance cost related to long-term debt
write-down of assets																421,000
proceeds from financing related to sales and leaseback of vessels, net of issuance costs													0	-11,000	112,778,000	175,341,000
decrease in cash, cash equivalents and restricted cash												-10,772,000				-32,227,000																1,680,000	5,840,000	1,101,000	-23,824,000
income tax																-820,000							1,922,000
proceeds from long-term debt, net of issuance costs																	0	151,167,000				30,000,000	67,050,000	-1,269,000	479,091,000	479,091,000	298,000	40,367,000	15,987,000	434,000	434,000	35,269,000	469,000	15,191,000	30,468,000	619,000	13,618,000	682,000	682,000	875,467,000	849,728,000	739,000	848,989,000	848,989,000	113,367,000	222,435,000	848,000	221,587,000	221,587,000
proceeds from the sale of assets
advances to equity joint venture
unrealized gain on derivative instruments														-1,126,000	-540,000	-2,118,000																			-2,823,000			-121,000	-121,000	-3,810,000			-1,812,000	-1,812,000		-2,975,000	-2,975,000	-877,000	-877,000	-2,335,000	-2,971,000	1,116,000	-4,091,000	-4,091,000				-1,631,000		-1,631,000					-1,050,000
net loss																-13,942,000												-19,850,000					-17,484,000																						14,130,000	-14,591,000						-9,662,000								-269,000								-847,000
write-down and loss on sale of assets																	4,270,000	697,000	86,686,000	715,000	715,000	24,282,000
proceeds from financing related to sales and leaseback of vessels																												0
cash, cash equivalents and restricted cash provided by
unrealized																					-740,000
extinguishment of obligations related to finance leases
loss on sale of assets and write-down of assets
loss and write-down on sale of vessels																									3,087,000	3,087,000
repayments of short-term debt																									-130,000,000
return of capital from equity-accounted joint venture
gain and write-down on sale of vessels
unrealized gain
equity
repayments of long-term debt																																-72,985,000	-26,047,000	-27,627,000	-38,706,000	-24,160,000	-28,809,000	-29,085,000	-29,085,000	-119,252,000	-82,410,000	-45,836,000	-36,574,000	-36,574,000	-18,753,000	-13,184,000	-8,092,000	-5,092,000	-5,092,000	-5,092,000	-5,092,000	-5,092,000	-5,091,000	-5,091,000	-7,531,000	-5,092,000	-7,531,000	-5,092,000	-5,092,000	-5,092,000	-8,667,000	-3,955,000	-450,000	-450,000	-450,000	-450,000	-450,000	-450,000	-450,000	-2,700,000	-1,800,000		-900,000	-3,600,000	-900,000	-10,900,000	-3,200,000	-18,600,000	-10,900,000	-16,800,000	-900,000
prepayment of long-term debt																														-20,000,000		-35,000,000						-60,078,000	-60,078,000	-957,541,000	-890,091,000	0	-890,091,000	-890,091,000	0	-191,592,000	-30,000,000	-161,592,000	-161,592,000	-5,000,000	-5,000,000	-152,000,000	-5,000,000	-5,000,000	0	-5,000,000					-5,000,000	0			-55,000,000	0	0	-15,328,000	-103,000,000
prepayment of short-term debt
proceeds from financing related to sales and leasebacks of vessels
proceeds from equity offerings, net of offering costs																																				5,000,000	-5,000,000	13,565,000	13,565,000						14,269,000	50,928,000
proceeds from issuance of common stock, net of share issuance costs
proceeds from the sales of vessels and equipment
loan repayments from equity-accounted for investment
return of capital from equity-accounted for investments
cash acquired in til acquisition, net of transaction fees
freight tax expense
return of capital from equity-accounted for joint venture
repayment of short-term debt																														-5,000,000	-5,000,000
scheduled repayments of obligation related to finance leases																														-5,537,000
return of capital from equity-accounted for investment
loss on sales of vessels
scheduled repayments of obligation related to capital leases
proceeds from sales of vessels																																	0
return of capital from equity-accounted investment																																	0
loan repayments from equity-accounted investment
loss on sale of vessels																																					142,000	4,427,000	4,427,000
proceeds from financing related to sales and leasebacks
scheduled repayments of obligations related to capital leases																																		-1,763,000	-1,740,000
return of capital to teekay corporation
proceeds from issuance of class a common stock																																																													0	0	0	69,000,000	69,000,000	0	0	0	112,054,000	107,549,000	-75,517,000
return of capital from equity accounted investments																																			746,000
cash and cash equivalents from
loss on sales of vessels and asset impairment
increase in restricted cash - long-term
return of capital to teekay corporation from ttol prior to acquisition
loan repayments from equity accounted investment																																				0				2,500,000	2,500,000										0	0	1,150,000	1,150,000
decrease in cash and cash equivalents																																				-26,649,000	13,642,000	-20,544,000	-20,544,000	-37,180,000	-38,399,000	-10,356,000	-28,043,000	-28,043,000		-79,715,000																									-1,779,000			-16,266,000						-15,133,000
cash and cash equivalents, beginning of the year																																																																										26,698,000				34,839,000
cash and cash equivalents, end of the year																																																																										10,432,000				26,698,000
cash and cash equivalents provided by
gain on sale of vessels																																																			0
repayment from long-term debt of entities under common control
proceeds from financing related to sale and leaseback
net advances from affiliates																																																																						78,718,000	71,682,000
equity contribution from teekay corporation to entities under common control
acquisition of the explorer spirit and navigator spirit from teekay offshore partners l.p.
expenditures for principal maritime vessel acquisitions																																													-85,979,000
loan repayments from high-q joint venture
adjustment to investment in ttol prior to 100% acquisition
acquisition of spt																																													1,380,000
change in non-cash working capital items related to operating activities																																																														10,671,000			-6,315,000	-716,000	-422,000	-1,653,000	1,958,000			-3,216,000	-1,689,000		7,060,000				8,017,000		-2,123,000
expenditures for dry-docking
repurchase of common stock
other financing activities																																																																									-3,000
proceeds on disposal of vessels
increase in cash and cash equivalents																																													15,838,000			-122,284,000	-122,284,000	116,431,000	24,602,000	-5,374,000	1,492,000	1,492,000	-3,522,000	-8,540,000	10,662,000	705,000	705,000	705,000	43,000	7,744,000	-8,631,000	8,619,000	8,619,000	2,023,000	-2,462,000	-3,702,000	7,818,000	812,000			1,720,000			-4,286,000		-8,141,000	-4,286,000				9,638,000
cash and cash equivalents, beginning of the period																																				0	26,049,000	68,108,000	68,108,000	96,417,000	96,417,000	0	96,417,000	96,417,000		162,797,000	0	162,797,000	162,797,000		0	0	25,646,000	25,646,000		0	0	26,341,000	26,341,000	26,341,000		0	2,707,000	15,859,000	15,859,000		0	0	12,450,000	10,432,000	10,432,000	0	10,432,000			26,698,000			26,698,000	34,839,000		0	34,839,000
cash and cash equivalents, end of the period																																				-26,649,000	39,691,000	47,564,000	47,564,000	59,237,000	58,018,000	-10,356,000	68,374,000	68,374,000		83,082,000	42,569,000	40,513,000	40,513,000		24,602,000	-5,374,000	27,138,000	27,138,000		-8,540,000	10,662,000	27,046,000	27,046,000	27,046,000		7,744,000	-5,924,000	24,478,000	24,478,000		-2,462,000	-3,702,000	20,268,000	11,244,000	8,653,000	-3,499,000	12,152,000			22,412,000			22,412,000	19,706,000		-24,771,000	44,477,000
scheduled repayments of capital lease obligations
increase in restricted cash
net proceeds from sale of vessels																																						32,626,000
return of capital from teekay tankers operations ltd.
return of capital from teekay tanker operations ltd.
proceeds from long-term debt of entities under common control
equity contribution from teekay corporation																																																		0	0			1,267,000								-261,000
proceeds from the sale of vessels and equipment																																																											9,119,000
return of capital from equity accounted investment
investment in and advances to til
investment in term loans																																																																						-115,575,000
repayment of long-term debt of entities under common control
net advances to affiliates																																																																												-535,000	19,183,000	-9,002,000	-535,000		0
net proceeds from sale of vessel																																								14,078,000
return of capital from (investment in) teekay tankers operations ltd.																																								15,000,000	15,000,000		15,000,000
net income - gaap basis																																								-5,457,000	22,486,000		38,980,000
add:
net loss attributable to the entities under common control
net income attributable to shareholders of teekay tankers																																								-5,457,000	22,486,000		38,980,000																-1,953,000					4,137,000
add (subtract) specific items affecting net income:
asset impairment																																								7,766,000	6,420,000
loss on sale of vessel																																								137,000
total adjustments																																								3,982,000	9,114,000		6,978,000			-2,989,000		18,000					-9,558,000						-1,560,000					-1,050,000
adjusted net income attributable to shareholders of teekay
tankers																																								-1,475,000	31,600,000
subtract:
net income attributable to the entities under common control
less:
free cash flow																																								26,640,000	59,600,000		66,218,000			57,897,000		53,017,000
weighted-average number of common shares outstanding for the quarter																																								156,284,136,000	156,208,917,000		156,083,657,000			116,150,985,000		115,044,039,000
asset impairments
expenditures for principal maritimes vessel acquisitions
return of capital from																																												15,000,000
acquisition of spt, net of 0.4 million of cash assumed
adjusted net income attributable to shareholders of teekay tankers																																											45,958,000			41,253,000		39,003,000					16,874,000						-3,513,000
proportionate share of free cash flow from equity accounted investments																																											5,527,000			4,554,000		3,599,000
amortization of in-process revenue contracts																																											-1,223,000
free cash flow per share																																											420			500		460
prepayment of long-term debts of entities under common control
acquisition of the spt explorer and navigator spirit from teekay offshore partners l.p.
investment in and advances from
investment in and advances to ttol
assets
cash and cash equivalents
restricted cash
pool receivable from affiliates
accounts receivable
prepaid assets
due from affiliates
vessel held for sale
vessels and equipment – net
investment in and advances to equity accounted investments
derivative asset
intangible assets – net
other non-current assets
total assets
liabilities and equity
accounts payable and accrued liabilities
current portion of long-term debt
current portion of derivative liabilities
current portion of in-process revenue contracts
deferred revenue
due to affiliates
long-term debt
other long-term liabilities
total liabilities and equity
investment in teekay tankers operations ltd.																																														-239,000		-239,000
investment in tanker investments ltd.
term loan advance recoveries																																																			0	0	1,179,000	1,179,000
investment in teekay tanker operations ltd.																																																	-239,000
net income – gaap basis																																														44,242,000
(subtract) add specific items affecting net income:
net income for the period																																														44,242,000		38,985,000					26,432,000											4,137,000
proceeds from equity offering net of offering costs																																																13,665,000
net income—gaap basis																																																38,985,000					26,432,000						-1,953,000					4,137,000
fair value on initial recognition of stock purchase warrants																																																					-3,420,000
dilution gain on equity accounted investment																																																					-2,054,000
proceeds from equity offering, net of offering costs																																																	13,665,000
vessel impairment
proceeds from long-term debt of dropdown predecessor																																																													0	0								8,357,000								44,027,000			0
repayment from long-term debt of dropdown predecessor																																																													0
prepayment of long-term debts of dropdown predecessor
acquisition of 13 vessels from teekay corporation																																																													-8,431,000	-1,228,000
contribution of capital from teekay corporation to
dropdown predecessor
loss provision on investment in term loans																																																								10,399,000
investment in high-q joint venture
supplemental cash flow information (note 3 and 4c).
investment in equity accounted investments																																																				0	-25,000,000	-25,000,000
supplemental cash flow information
contribution of capital from teekay corporation																																																					1,267,000
proceeds from sale of vessel and equipment																																																								0	0	9,119,000		9,119,000										35,396,000	17,807,000
loss on vessel sale																																																											71,000
proportionate share of cash available for distribution from equity accounted investments																																																					1,097,000
cash available for distribution																																																					30,122,000						8,270,000															12,114,000		17,663,000		18,847,000		22,384,000			17,622,000
weighted-average number of common shares outstanding for the quarter, diluted																																																					83,973,172,000
cash available for distribution per share, diluted																																																					360
vessel impairment and net loss on sale of vessels
goodwill impairment charge																																																																		5,984,000
contribution of capital from teekay corporation to dropdown predecessor																																																																						92,577,000
net advances from
shares issuance costs
investment in joint venture																																																							110,000	0	-3,755,000	-245,000	-245,000	-245,000	-234,000	-75,000			-350,000
repayments of long-term debt of dropdown predecessor																																																																														-153,656,000
prepayment of long-term debt of dropdown predecessor																																																																										-13,303,000	-79,008,000
share issuance costs																																																																						-4,629,000	-4,629,000			-3,092,000			-1,915,000	-1,130,000		-1,130,000	0	-238,000	-892,000
term loan advances
repayment of long-term debt of dropdown predecessor																																																																																	0
prepayment from long-term debt of dropdown predecessor
net loss attributable to the dropdown predecessor
unrealized gain on interest rate swaps																																																											-1,631,000					-1,050,000
net loss for the period																																																											-1,953,000
weighted-average number of common shares outstanding for the quarter ended																																																											83,591,030,000
cash available for distribution per share																																																											100
acquisition of helga spirit llc, yamuna spirit llc, kaveri spirit llc,
esther spirit llc and iskmati spirit llc from teekay corporation
advances to joint venture
due to / from affiliates																																																														0
net loss - gaap basis
net loss attributable to shareholders of teekay tankers
unrealized loss on interest rate swaps
goodwill impairment
expenditures for drydocking																																																																								-4,129,000	-229,000		-301,000						-2,396,000
debt financing cost																																																																-350,000
share issuance cost																																																																-3,015,000	-3,015,000
adjusted net income																																																																3,087,000
amortization of debt issuance costs																																																																155,000
non-cash accrual of repayment premium on term loans																																																																-295,000						-240,000
amortization of in-process revenue contract																																																																-69,000
cash available for distribution before reserves																																																																13,616,000						15,420,000	16,711,000
reserve for scheduled dry-dockings and other capital expenditures																																																																-2,000,000
reserve for debt principal repayment																																																																-450,000						-900,000	-900,000			-900,000		-900,000		-900,000
cash available for distribution after reserves																																																																11,166,000						13,320,000	14,611,000			8,464,000
weighted-average number of common shares outstanding for the quarter ended march 31, 2012																																																																70,975,645,000
cash dividend per share																																																																160						310	340			260		590		720		900			700
vessel impairments and net loss on sale of vessels
acquisition of helga spirit llc, yamuna spirit llc, kaveri spirit llc, esther spirit llc and iskmati spirit llc from teekay corporation
acquisition of ashkini spirit llc from teekay corporation
acquisition of helga spirit llc, yamuna spirit llc, and kaveri spirit llc from teekay corporation
share issuance and other financing costs
shares issuance and other financing costs																																																																				-85,000	-4,817,000
return of capital to teekay corporation to dropdown predecessor
change in working capital items related to operating activities:
pool receivables from affiliates
prepaid expenses and other current assets
accounts payable
accrued liabilities
other current liabilities
drawdown of long-term debt
deferred financing costs
net advances (to) / from affiliates
equity contributions from / (distributions to) owner
net change in cash and cash equivalents
cash and cash equivalents, beginning of period
cash and cash equivalents, end of period
supplemental cash flow information:
cash paid during the period for:
interest
net loss on sale of vessels
acquisition of ganges spirit llc and narmada spirit llc from teekay corporation
contribution (return) of capital from (to) teekay corporation to dropdown predecessor
net advances from (to) affiliates
repurchase of class a common stock																																																																														-203,000
debt issuance costs																																																																														-276,000		-234,000	0	-56,000	-220,000
proceeds of long-term debt																																																																						137,000,000	22,000,000
prepayments of long-term debt of dropdown predecessor																																																																						-43,828,000	-43,828,000
prepayments of push-down debt of dropdown predecessor																																																																						-140,032,000	-131,675,000
acquisition of helga spirit llc, yamuna spirit llc and kaveri spirit llc from teekay corporation																																																																						-136,685,000
unrealized loss from interest rate swaps																																																																						4,188,000
amortization of debt issuance costs and other																																																																						118,000	8,000			81,000		-43,000				-21,000			95,000
loss on sale of vessels and equipment																																																																						1,901,000
reserve for scheduled drydockings and other capital expenditures																																																																						-1,200,000	-1,200,000			-2,750,000
weighted-average number of common shares outstanding for the quarter ended september 30, 2010																																																																						43,391,744,000
repayment of long-term debt
prepayment of push-down debt of dropdown predecessor																																																																										-57,000,000
proceeds from sale of vessels and equipment
unrealized loss from interest rate swap																																																																							5,375,000							13,811,000
net income and net non-cash items relating to the dropdown predecessor																																																																							-574,000
total common shares outstanding as at june 30, 2010																																																																							43,391,744,000
unrealized loss on derivative instrument																																																																								5,375,000	1,333,000		-3,376,000				-2,382,000
repayment of pushed-down debt of dropdown predecessor
return of capital to the parent from dropdown predecessor
advances from (to) affiliates																																																																										7,867,000
contributed capital																																																																										1,411,000
issuance of class a common shares																																																																										68,600,000
unrealized gain from interest rate swap																																																																										-3,376,000		-2,382,000
total common shares outstanding as at december 31, 2009																																																																										32,000,000,000
proceeds from issuance of class a common stock, net of offering costs
contribution (return) of capital																																																																													391,000	1,020,000			0
debt issuance cost amortization and other																																																																																	-42,000
other — net																																																																															54,000
contribution of capital
reserve for scheduled drydockings																																																																												-2,000,000
cash dividend																																																																												14,763,000		17,947,000
weighted-average number of total common shares outstanding																																																																												25,000,000,000		25,000,000,000		25,000,000,000			25,000,000,000
unrealized gain on derivative instrument
debt issuance cost amortization																																																																															70,000
other non-cash items																																																																														-34,000
acquisition of suezmax tankers from teekay corporation																																																																																-114,965,000
other investing activities																																																																																-205,000
unrealized gain from interest rate swap and amortization of accumulated other comprehensive income																																																																																-5,030,000
amount attributable to the dropdown predecessor
cash from
decrease in cash
cash, beginning of the period
cash, end of the period
net repayments to affiliates
return of capital
payment of cash dividend																																																																																			-2,875,000
cash and cash equivalents from operating activities net income
other - net
financing activities proceeds from long-term debt
net advances (to) from affiliates
contribution/(return) of capital
investing activities expenditures for vessels and equipment

Teekay Tankers Ltd(NYSE:TNK)

Teekay Tankers Ltd
(NYSE:TNK)