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Equity in Net Earnings of Affiliates

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Equity in Net Earnings of Affiliates

EQUITY IN NET EARNINGS OF AFFILIATES

(in thousands of $)	Six Months Ended June 30, 2017		Six Months Ended June 30, 2016
Share of net loss in Golar Partners	(2,906	)	(5,525	)
Share of net loss in Golar Power	(7,461	)	—
Share of net loss in OneLNG	(3,126	)	—
Share of net earnings (loss) in Egyptian Company for Gas Services ("ECGS")	300		(38	)
	(13,193	)	(5,563	)

Our share of net loss in Golar Partners includes a non-cash loss on deemed disposal of $17.0 million for the six months ended June 30, 2017, being the dilutive impact on our ownership interest due to further issuances of common units by Golar Partners in February 2017. In addition, our share of net loss in Golar Partners includes a charge of $10.7 million for the six months ended June 30, 2017 (June 30, 2016: $17.1 million) in relation to the amortization of the basis difference primarily in relation to the $854.0 million gain on loss of control recognized upon deconsolidation in 2012.

The carrying amounts of our investments in our equity method investments as at June 30, 2017 and December 31, 2016 are as follows:

(in thousands of $)	June 30, 2017		December 31, 2016
Golar Partners	482,397		507,182
Golar Power	174,073		126,534
OneLNG	7,074		10,200
ECGS	5,163		4,864
Equity in net assets of affiliates	668,707		648,780

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- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 35
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569

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- References

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