It was his first recording to appear on the American music charts, reaching #5 on the Billboard chart in January 1971. Lightfoot has cited his divorce for inspiring the lyrics.

This song first appeared on the Lightfoot's 1970 album Sit Down Young Stranger. The success of the single led Lightfoot's label, Reprise Records, to retitle the album after the song. The song reached #1 on Billboard's Easy Listening charts.

The song has been covered by many artists, including Johnny Cash, Don McLean, Kalan Porter, Olivia Newton-John, Barbra Streisand, Liza Minnelli, Glen Campbell, Gene Clark, Viola Wills, The Spotnicks, and the house music collective Stars on 54.