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ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Useful lives applied in depreciation
Useful lives applied in depreciation are as follows:

Vessels
40 to 50 years
Deferred drydocking expenditure
two to five years
Office equipment and fittings
three to six years
Amounts recognized in accumulated other comprehensive income
As at December 31, 2012 and 2011, the Company's accumulated other comprehensive loss balances consisted of the following components:
(in thousands of $)
2012

 
2011

Unrealized net loss on qualifying cash flow hedging instruments
(6,832
)
 
(19,462
)
Unrealized gain on available-for-sale securities
5,911

 
—

Losses associated with pensions, net of tax recoveries of $0.3 million (2011: $0.4 million)
(17,809
)
 
(15,486
)
Accumulated other comprehensive loss
(18,730
)
 
(34,948
)
The amounts recognized in accumulated other comprehensive income consist of:

(in thousands of $)
2012

 
2011

Net actuarial loss
17,809

 
15,486