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DECONSOLIDATION OF GOLAR PARTNERS (Tables) | 12 Months Ended
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Dec. 31, 2012
Deconsolidation [Abstract] |
Components of gain on loss of control | In accordance with ASC 460, the guarantees issued by the Company in respect of Golar Partners and its subsidiaries were fair valued as of the deconsolidation date of December 13, 2012. The fair value of the guarantees amounted to a liability of $23.3 million which is recorded in "Other long-term liabilities" and comprised of the following items:
(in thousands of $) |  | As of December 13, 2012 |
Debt guarantees |  | 4,548 |
Golar Grand Option |  | 7,217 |
Methane Princess tax lease indemnity |  | 11,500 |
|  | 23,265 |
Components of ownership interest | The fair value of the Company's residual interest in Golar Partners comprised of the following:
(in thousands of $) | As of December 13, 2012 |
Common units (i) (see note 21) | 346,950 |
General Partner units and Incentive Distribution Rights ("IDRs") (ii) (see note 22) | 191,177 |
Subordinated units (iii) (see note 13) | 362,799 |
| 900,926 |
Components of gain on loss of control related to remeasurment | In addition, the table below shows the portion of the gain on loss of control related to the remeasurement of the Company's retained investment (our ownership interest of 54.1%) in Golar Partners.
(in thousands of $) | As of December 13, 2012 |
Fair value of investment in Golar Partners | 900,926 |
Less: Percentage retained of carrying value of net assets in Golar Partners | (129,077 | )
Gain on retained investment in Golar Partners | 771,849 |
Accounting for basis difference in fair value and book value |
(in thousands of $) | Book value |  | Fair value |  | Basis difference |  | Golar's share of the basis difference
| 100% |  | 100% |  | 100% |  | 24.8%*
Vessels and equipment and vessels under capital leases (i) | 1,192,779 |  |  | 1,924,027 |  |  | 731,248 |  |  | 181,326 |
Charter agreements (ii) | — |  |  | 259,178 |  |  | 259,178 |  |  | 64,268 |
Goodwill (iii) | — |  |  | 457,688 |  |  | 457,688 |  |  | 113,492 |
| 1,192,779 |  |  | 2,640,893 |  |  | 1,448,114 |  |  | 359,086 |
*The Company's share of the basis difference is with reference to its holding in the subordinated units only. The basis difference has been accounted for as follows: (i) The basis difference assigned to vessels and equipment is being depreciated over the remaining estimated useful lives of the vessels and is recorded as a component of "Equity in net earnings(losses) of affiliates". (ii) The basis difference relating to the charter agreements is being amortized over the remaining term of the charters and is recorded as a component of "Equity in net earnings (losses) of affiliates". (iii) For the assigned goodwill, the Company will recognize its share of any impairment charge recorded by Golar Partners and consider the effect, if any, of the impairment on the assigned goodwill.
Components of fair value of guarantees | The fair value of the guarantees amounted to a liability of $23.3 million which is recorded in "Other long-term liabilities" and comprised of the following items:
(in thousands of $) |  | As of December 13, 2012 |
Debt guarantees |  | 4,548 |
Golar Grand Option |  | 7,217 |
Methane Princess tax lease indemnity |  | 11,500 |
|  | 23,265 |

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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Interpretation (FIN) -Number 45 -Paragraph 13, 16 -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. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 9, 10, 11, 12 -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. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12265-110248 + Details
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