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Restatement (Tables) | 6 Months Ended
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Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | Restatement of comparative period for the six months ended June 30, 2015 As further described in note 35 to the consolidated financial statements in our recently filed annual report on form 20-F/A for the year ended December 31, 2015, as filed on November 10, 2016, we restated our consolidated financial statements to account for the various investments in Golar Partners since the deconsolidation date of December 13, 2012, as equity accounted for investments. The change in accounting for our investment in Golar Partners does not affect the market value of our investment, our cash flows, our covenant compliance or our liquidity. Accordingly, the comparative for the six month period ended June 30, 2015, has also been restated within these interim financial statements. These interim financial statements should be read in conjunction with the company's restated audited financial statements for the year ended December 31, 2015 included in the Form 20-F/A. GOLAR LNG LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(in thousands of $ except per share amounts) | Six months ended June 30,
2015 |  | Adjustment |  | 2015 |
|  |  | Restated |
Time and voyage charter revenues | 45,757 |  | — |  | 45,757 |
Vessel and other management fee | 6,545 |  | — |  | 6,545 |
Operating revenues | 52,302 |  | — |  | 52,302 |
Vessel operating expenses | 29,338 |  | — |  | 29,338 |
Voyage and charterhire expenses | 45,131 |  | — |  | 45,131 |
Administrative expenses | 16,166 |  | — |  | 16,166 |
Depreciation and amortization | 35,815 |  | — |  | 35,815 |
Total operating expenses | 126,450 |  | — |  | 126,450 |
Gain on disposals to Golar Partners | 103,790 |  | (250 | ) | 103,540 |
Impairment of vessel held-for-sale | (1,032 | ) | — |  | (1,032 | )
Loss on disposal of vessel held-for-sale | (5,824 | ) | — |  | (5,824 | )
Operating (loss) income | 22,786 |  | (250 | ) | 22,536 |
Other non-operating income (expense) |  |  |
Dividend income | 7,495 |  | (7,495 | ) | — |
Loss on sale of available-for-sale securities | (3,011 | ) | 3,011 |  | — |
Total other non-operating income | 4,484 |  | (4,484 | ) | — |
Financial income (expenses) |  |  |
Interest income | 3,910 |  | — |  | 3,910 |
Interest expense | (34,669 | ) | — |  | (34,669 | )
Other financial items, net | 18,851 |  | — |  | 18,851 |
Net financial expenses | (11,908 | ) | — |  | (11,908 | )
(Loss) income before taxes and equity in net earnings of affiliates | 15,362 |  | (4,734 | ) | 10,628 |
Income taxes | 1,803 |  | — |  | 1,803 |
Equity in net (losses) earnings of affiliates | 7,225 |  | 32,946 |  | 40,171 |
Net (loss) income | 24,390 |  | 28,212 |  | 52,602 |
Net income attributable to non-controlling interests | (5,035 | ) | — |  | (5,035 | )
Net (loss) income attributable to Golar LNG Ltd | 19,355 |  | 28,212 |  | 47,567 |
Basic and diluted (loss) earnings per share ($) | 0.22 |  | — |  | 0.51 |
Cash dividends declared and paid per share ($) | $ | 0.90 |  | $ | — |  | $ | 0.90 |
GOLAR LNG LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Six months ended June 30,
(in thousands of $) | 2015 |  | Adjustment |  | 2015 |
|  |  | Restated |
Net (loss) income | 24,390 |  | 28,212 |  | 52,602 |
Other comprehensive loss: |  |  |
Net loss on qualifying cash flow hedging instruments | (35 | ) | (962 | ) | (997 | )
Net gain (loss) on investment in available-for-sale securities | (24,383 | ) | 24,383 |  | — |
Other comprehensive income (loss) (note 14) | (24,418 | ) | 23,421 |  | (997 | )
Comprehensive loss | (28 | ) | 51,633 |  | 51,605 |
Comprehensive loss attributable to: |  |  |
Stockholders of Golar LNG Limited | (5,063 | ) | 51,633 |  | 46,570 |
Non-controlling interests | 5,035 |  | — |  | 5,035 |
| (28 | ) | 51,633 |  | 51,605 |
GOLAR LNG LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF CASHFLOWS
| Six months ended June 30,
| 2015 |  | Adjustment |  | 2015 |
(in thousands of $) |  |  | Restated |
OPERATING ACTIVITIES |  |  |
Net (loss) income | 24,390 |  | 28,212 |  | 52,602 |
Adjustments to reconcile net (loss) income to net cash used in operating activities: |  |  |
Depreciation and amortization | 35,815 |  | — |  | 35,815 |
Amortization of deferred tax benefits on intra-group transfers | (1,744 | ) | — |  | (1,744 | )
Amortization of deferred charges and guarantees | (2,427 | ) | — |  | (2,427 | )
Gain on disposals to Golar Partners | (103,790 | ) | 250 |  | (103,540 | )
Equity in net loss (earnings) of affiliates | (7,225 | ) | (32,946 | ) | (40,171 | )
Dividend income from available-for-sale securities and cost investments recognized in operating income | (7,495 | ) | 7,495 |  | — |
Dividends received | 25,678 |  | — |  | 25,678 |
Drydocking expenditure | (10,405 | ) | — |  | (10,405 | )
Compensation cost related to stock options | 3,500 |  | — |  | 3,500 |
Loss on disposal of available-for-sale securities | 3,011 |  | (3,011 | ) | — |
Loss on sale of vessel | 5,824 |  | — |  | 5,824 |
Impairment of vessel held-for-sale | 1,032 |  | — |  | 1,032 |
Net foreign exchange loss | 1,601 |  | — |  | 1,601 |
Change in assets and liabilities, net of effects from the sale of the Golar Eskimo: |  |  |
Trade accounts receivable | (3,611 | ) | — |  | (3,611 | )
Inventories | (421 | ) | — |  | (421 | )
Prepaid expenses, accrued income and other assets | (26,463 | ) | — |  | (26,463 | )
Amounts due from/to related companies | (3,545 | ) | — |  | (3,545 | )
Trade accounts payable | 627 |  | — |  | 627 |
Accrued expenses and deferred income | 11,735 |  | — |  | 11,735 |
Other liabilities | (22,267 | ) | — |  | (22,267 | )
Net cash used in operating activities | (76,180 | ) | — |  | (76,180 | )
GOLAR LNG LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASHFLOWS
| Six months ended June 30,
| 2015 |  | Adjustment |  | 2015 |
(in thousands of $) |  |  | Restated |
INVESTING ACTIVITIES |  |  |
Additions to vessels and equipment | (727 | ) | — |  | (727 | )
Additions to newbuildings | (392,423 | ) | — |  | (392,423 | )
Additions to assets under development | (64,499 | ) | — |  | (64,499 | )
Acquisition of LNG Abuja | (20,000 | ) | — |  | (20,000 | )
Repayment of short-term loan granted to third party | 400 |  | — |  | 400 |
Repayment of short-term loan granted to Golar Partners | 20,000 |  | — |  | 20,000 |
Proceeds from disposal of business to Golar Partners, net of cash disposed (including repayments on related vendor financing loans granted) | 126,872 |  | — |  | 126,872 |
Proceeds from disposal of investment in available-for-sale securities | 207,428 |  | — |  | 207,428 |
Restricted cash and short-term receivables | 39,064 |  | — |  | 39,064 |
Net cash used in investing activities | (83,885 | ) | — |  | (83,885 | )
FINANCING ACTIVITIES |  |  |
Proceeds from short-term and long-term debt (including related parties) | 557,065 |  | — |  | 557,065 |
Repayments of short-term and long-term debt (including related parties) | (121,716 | ) | — |  | (121,716 | )
Financing costs paid | (10,997 | ) | — |  | (10,997 | )
Cash dividends paid | (80,892 | ) | — |  | (80,892 | )
Proceeds from exercise of share options | 23 |  | — |  | 23 |
Net cash provided by financing activities | 343,483 |  | — |  | 343,483 |
Net (decrease) increase in cash and cash equivalents | 183,418 |  | — |  | 183,418 |
Cash and cash equivalents at beginning of period | 191,410 |  | — |  | 191,410 |
Cash and cash equivalents at end of period | 374,828 |  | — |  | 374,828 |
GOLAR LNG LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(in thousands of $) | Share Capital | Treasury Shares | Additional Paid-in Capital | Contributed Surplus (1) | Accumulated Other Comprehensive (Loss) Income | Accumulated Retained Earnings | Total before Non- controlling Interest (Restated) | Non-controlling Interest | Total Equity (Restated)
2015 | Adjustment | Restated | 2015 | Adjustment | Restated
Balance at December 31, 2014 | 93,415 |  | — |  | 1,307,087 |  | 200,000 |  | 5,171 |  | (11,750 | ) | (6,579 | ) | 675,179 |  | (33,334 | ) | 641,845 |  | 2,235,768 |  | 1,655 |  | 2,237,423 |
Net income (1)(2) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 19,355 |  | 28,212 |  | 47,567 |  | 47,567 |  | 5,035 |  | 52,602 |
Dividends | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (80,892 | ) | — |  | (80,892 | ) | (80,892 | ) | — |  | (80,892 | )
Exercise of share options | 8 |  | — |  | 15 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 23 |  | — |  | 23 |
Grant of share options | — |  | — |  | 3,231 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 3,231 |  | — |  | 3,231 |
Forfeiture of share options | — |  | — |  | (188 | ) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (188 | ) | — |  | (188 | )
Cancellation of share options | — |  | — |  | 787 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 787 |  | — |  | 787 |
Other comprehensive loss (2) | — |  | — |  | — |  | — |  | (24,418 | ) | 23,421 |  | (997 | ) | — |  | — |  | — |  | (997 | ) | — |  | (997 | )
Balance at June 30, 2015 | 93,423 |  | — |  | 1,310,932 |  | 200,000 |  | (19,247 | ) | 11,671 |  | (7,576 | ) | 613,642 |  | (5,122 | ) | 608,520 |  | 2,205,299 |  | 6,690 |  | 2,211,989 |

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