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DEFERRED CHARGES
 12 Months Ended
Dec. 31, 2011
DEFERRED CHARGES [Abstract]  
DEFERRED CHARGES
17.
DEFERRED CHARGES

Deferred charges represent financing costs, principally bank fees that are capitalized and amortized to other financial items over the life of the debt instrument.  If a loan is repaid early any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid.  The deferred charges are comprised of the following amounts:

(in thousands of $)
 
2011
 
 
2010
 
Debt arrangement fees and other deferred financing charges
 
 
14,860
 
 
 
16,015
 
Accumulated amortization
 
 
(5,291
)
 
 
(6,217
)
 
 
 
9,569
 
 
 
9,798
 

Amortization of deferred charges, for the years ended December 31, 2011, 2010 and 2009 was $1.5 million, $1.5 million and $1.3 million, respectively.  In March 2011, the Golar Gas Holding facility reached its maturity date and the remaining outstanding loan balance was settled.  Accordingly, the balance of the fully amortized capitalized finance charges were written off in 2011.