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ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Use of Estimates, Policy [Policy Text Block]
Use of estimates

The preparation of financial statements in accordance with U.S. GAAP requires that management make estimates and assumptions affecting the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
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
The amounts recognized in accumulated other comprehensive income consist of:
(in thousands of $)
2013

 
2012

Net actuarial loss
12,731

 
17,809

As at December 31, 2013 and 2012, our accumulated other comprehensive loss balances consisted of the following components:
(in thousands of $)
2013

 
2012

 
2011

Unrealized net loss on qualifying cash flow hedging instruments
(1,822
)
 
(6,832
)
 
(19,462
)
Unrealized gain on available-for-sale securities
7,796

 
5,911

 
—

Losses associated with pensions, net of tax recoveries of $0.2 million (2012: $0.3 million)
(12,731
)
 
(17,809
)
 
(15,486
)
Accumulated other comprehensive loss
(6,757
)
 
(18,730
)
 
(34,948
)


The components of accumulated other comprehensive income (loss) consisted of the following:

 
Gain (losses) on available-for-sale securities
Pension and post retirement benefit plan adjustments
Gains (losses) on cash flow hedges
Share of affiliates comprehensive income
Total Accumulated comprehensive Income (loss)
Balance at December 31, 2010
—

(12,347
)
(20,964
)
—

(33,311
)
Other comprehensive (loss) income before reclassification
—

(3,139
)
1,502

—

(1,637
)
Net current-period other comprehensive (loss) income
—

(3,139
)
1,502

—

(1,637
)
Balance at December 31, 2011
—

(15,486
)
(19,462
)
—

(34,948
)
Other comprehensive income (loss) before reclassification
5,911

(2,323
)
3,641

—

7,229

Amount reclassified from accumulated other comprehensive income
—

—

8,989

—

8,989

Net current-period other comprehensive income (loss)
5,911

(2,323
)
12,630

—

16,218

Balance at December 31, 2012
5,911

(17,809
)
(6,832
)
—

(18,730
)
Other comprehensive income before reclassification
12,680

5,078

4,148

854

22,760

Amount reclassified from accumulated other comprehensive (loss) income
(10,795
)
—

8

—

(10,787
)
Net current-period other comprehensive income
1,885

5,078

4,156

854

11,973

Balance at December 31, 2013
7,796

(12,731
)
(2,676
)
854

(6,757
)