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INVESTMENTS IN AFFILIATES (Tables) | 12 Months Ended
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Dec. 31, 2012
Equity Method Investments and Joint Ventures [Abstract] |
Participation percentages, carrying amounts and components of non-consolidated investees | At December 31, 2012, the Company has the following participation in investments that are recorded using the equity method:
| 2012 |  |  | 2011 |
Golar Partners (1) (3) | 29.9 | % |  | — |
Bluewater Gandria NV ("Bluewater Gandria") (2) | — |  |  | 50 | %
Egyptian Company for Gas Services S.A.E ("ECGS") | 50 | % |  | 50 | %
Golar Wilhelmsen Management AS ("Golar Wilhelmsen") | 60 | % |  | 60 | %
(1) Golar Partners and its subsidiaries were included in the Company's consolidated financial statements for all periods until December 13, 2012, following its first AGM upon which the majority of directors were elected by the common unitholders, Golar Partners was deconsolidated and the Company's interests in the subordinated units were accounted for under the equity method from that date (see note 5 for further details). (2) In January 2012, Bluewater Gandria became a wholly-owned subsidiary of the Company pursuant to the purchase of the remaining 50% equity interest by the Company (see note 6). (3) The Company held a 54.1% ownership in Golar Partners as of December 31, 2012. However the 29.9% interest refers to the Company's interests in the subordinated units which are subject to the equity method accounting. The carrying amounts of the Company's investments in its equity method investments as at December 31, 2012 and 2011 are as follows:
(in thousands of $) | 2012 |  |  | 2011 |
Golar Partners | 362,064 |  |  | — |
Bluewater Gandria | — |  |  | 17,143 |
ECGS | 5,592 |  |  | 5,294 |
Golar Wilhelmsen | — |  |  | 92 |
Equity in net assets of affiliates | 367,656 |  |  | 22,529 |
The components of equity in net assets of non-consolidated affiliates are as follows:
(in thousands of $) | 2012 |  |  | 2011 |
Cost | 374,729 |  |  | 28,868 |
Dividend | (125 | ) |  | — |
Equity in net earnings of other affiliates | (6,948 | ) |  | (6,339 | )
Equity in net assets of affiliates | 367,656 |  |  | 22,529 |
Summarized financial information of affiliated undertakings | Summarized financial information of the affiliated undertakings shown on a 100% basis are as follows:
(in thousands of $) | December 31, 2012
| Golar Wilhelmsen |  | ECGS |  | Golar Partners |
Balance Sheet |  |  |
Current assets | 7,690 |  | 31,853 |  | 107,370 |
Non-current assets | — |  | 1,368 |  | 1,403,604 |
Current liabilities | 7,667 |  | 20,859 |  | 169,717 |
Non-current liabilities | — |  | 1,183 |  | 1,099,713 |
Non-controlling interest | — |  | — |  | 71,858 |
Statement of Operations |  |  |
Revenue | 4,245 |  | 61,769 |  | 286,630 |
Net (loss) income | (494 | ) | 849 |  | 127,141 |

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- Definition Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b -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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