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TAXATION (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Abstract]

Components of income tax expense (benefit)

The components of income tax expense are as follows:

(in thousands of $)	2011			2010			2009
Current tax expense (income):
U.K.	2,733			1,030			(218	)
Brazil	1,363			1,595			1,098
Total current expense	4,096			2,625			880
Deferred tax expense (income):
U.K.	886			(1,198	)		763
Amortization of tax benefit arising on intra-group transfers of long term assets (see note 25)	(6,687	)		—			—
Total income tax (gain) expense	(1,705	)		1,427			1,643

Deferred income tax assets

Deferred income tax assets are summarized as follows:

(in thousands of $)	2011			2010
Deferred tax assets, gross	622			1,630
Valuation allowances	—			(399	)
Deferred tax assets, net	622			1,231

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 740

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 9

-Section 50

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 740

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph

-Name Accounting Standards Codification

-Paragraph 2

-Section 50

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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