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OPERATING LEASES | 12 Months Ended
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Dec. 31, 2012
Leases [Abstract] |
OPERATING LEASES |
12. | OPERATING LEASES
Rental income The minimum contractual future revenues to be received on time charters as of December 31, 2012, were as follows:
Year ending December 31, | Total |
(in thousands of $) |
2013 | 85,688 |
2014 | 79,388 |
2015 | 79,388 |
2016 | 40,613 |
2017 | 26,560 |
Total * | 311,637 |
* This includes the minimum contractual revenues of $143.4 million relating to the Golar Maria which was sold to Golar Partners in February 2013. The cost and accumulated depreciation of vessels leased to third parties at December 31, 2012 and 2011 were $620 million and $141.2 million, and $1,878 million and $392 million, respectively. Rental expense The Company is committed to making rental payments under operating leases for office premises. The future minimum rental payments under the Company's non-cancellable operating leases are as follows:
Year ending December 31, | Total |
(in thousands of $) |
2013 | 676 |
2014 | 556 |
2015 | 556 |
2016 | 556 |
2017 | 556 |
2018 | 232 |
Total minimum lease payments | 3,132 |
Total rental expense for operating leases was $0.7 million, $1.0 million and $12.1 million for the years ended December 31, 2012, 2011 and 2010, respectively. During 2010, the Company incurred charter hire payments to third parties for a contracted-in vessel that was accounted for as an operating lease that was terminated in September 2010.

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- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 13 -Paragraph 23 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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