Table:
|  | December 31, 2019 | December 31, 2018 |
| --- | --- | --- |
|  | $ | $ |
| Deferred revenues and gains (note 2) | 28,612 | 31,324 |
| Guarantee liabilities | 10,113 | 9,434 |
| Asset retirement obligation | 31,068 | 27,759 |
| Pension liabilities | 7,238 | 4,847 |
| In-process revenue contracts | 11,866 | 17,800 |
| Derivative liabilities (note 16) | 51,914 | 56,352 |
| Unrecognized tax benefits (note 22) | 62,958 | 40,556 |
| Office lease liability – long-term (note 1) | 10,254 | — |
| Other | 2,325 | 1,325 |
|  | 216,348 | 189,397 |
Paragraphs:
Other Long-Term Liabilities
In-Process Revenue Contracts
As part of the Company’s previous acquisition of FPSO units from Petrojarl ASA (subsequently renamed Teekay Petrojarl AS, or Teekay Petrojarl), the Company assumed a certain FPSO contract with terms that were less favorable than the then prevailing market terms. At the time of the acquisition, the Company recognized a liability based on the estimated fair value of this contract and service obligation.
The Company is amortizing the remaining liability over the estimated remaining term of its associated contract on a weighted basis, based on the projected revenue to be earned under the contract.
Amortization of in-process revenue contracts for the year ended December 31, 2019 was $5.9 million (2018 – $14.5 million, 2017 – $27.2 million), which is included in revenues on the consolidated statements of loss. Amortization of in-process revenue contracts following 2019 is expected to be $5.9 million (2020), $5.9 million (2021) and $5.9 million (2022).
Question:
What is the increase/ (decrease) in Deferred revenues and gains from December 31, 2019 to December 31, 2018?
Answer: 28612-31324 = -2712