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OPERATING LEASES (Tables) | 12 Months Ended
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Dec. 31, 2015
Leases [Abstract] |
Minimum contractual future revenues to be received on time charters | The minimum contractual future revenues to be received on time charters in respect of vessels owned and operated as of December 31, 2015, were as follows:
Year ending December 31 | Total |
(in thousands of $) |
2016 | 12,260 |
2017 and thereafter | 12,852 |
Total | 25,112 |
Future minimum rental payments under non-cancellable operating leases | The future minimum rental payments under our non-cancellable operating leases are as follows:
Year ending December 31 | Total |
(in thousands of $) |
2016 | 27,786 |
2017 | 23,238 |
2018 | 770 |
2019 | 599 |
2020 | 50 |
2021 and thereafter | — |
Total minimum lease payments (1) | 52,443 |
(1) The above table includes operating lease charter-hire payments to Golar Partners relating to the Option Agreement entered into in connection with the disposal of the Golar Grand in November 2012. In the event that the charterer does not renew or extend its charter beyond February 2015, Golar Partners has the option to require us to charter the vessel through to October 2017. Golar Partners exercised this option in February 2015 (see note 31).

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- Definition Tabular disclosure of minimum contractual future revenues to be received on time charters in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year. + References No definition available. + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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