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ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block]

(in thousands of $)
Vessel
2014 Market value(1)
2014 Carrying value
Deficit
Golar Arctic
136,000
156,000
20,000
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 $)
2014

 
2013

Net actuarial loss
15,251

 
12,731

As at December 31, 2014, 2013 and 2012, our accumulated other comprehensive income (loss) balances consisted of the following components:
(in thousands of $)
2014

 
2013

 
2012

Unrealized net gain (loss) on qualifying cash flow hedging instruments
4,671

 
(1,822
)
 
(6,832
)
Unrealized gain on available-for-sale securities
15,751

 
7,796

 
5,911

Losses associated with pensions, net of tax recoveries of $0.2 million (2013: $0.2 million)
(15,251
)
 
(12,731
)
 
(17,809
)
Accumulated other comprehensive income (loss)
5,171

 
(6,757
)
 
(18,730
)


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, 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
)
Other comprehensive income (loss) before reclassification
7,955

(2,520
)
3,483

(225
)
8,693

Amount reclassified from accumulated other comprehensive income
—

—

3,235

—

3,235

Net current-period other comprehensive income (loss)
7,955

(2,520
)
6,718

(225
)
11,928

Balance at December 31, 2014
15,751

(15,251
)
4,042

629

5,171