Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charters with the lessor VIEs as of September 30, 2017, are shown below:



(in thousands of $)	2017 ⁽¹⁾	2018	2019	2020	2021	2022+
Golar Glacier	4,310	17,100	17,100	17,147	17,100	47,084
Golar Kelvin	4,310	17,100	17,100	17,147	17,100	49,895
Golar Snow	4,310	17,100	17,100	17,147	17,100	49,895
Golar Ice	4,310	17,100	17,100	17,147	17,100	52,800
Golar Tundra ⁽²⁾⁽³⁾	5,200	20,446	19,934	19,466	18,953	68,097
Golar Seal	3,736	15,151	15,193	15,151	15,151	60,646
Golar Crystal ⁽³⁾	2,610	10,433	10,420	10,419	10,381	53,659

⁽¹⁾ For the three months ending December 31, 2017.

⁽²⁾As a result of the sale of the Golar Tundra to Golar Partners in May 2016 (see "Tundra Lessor VIE" below), the payment obligations under the bareboat charter with the Golar Tundra lessor VIE are borne by Golar Partners until the Put Sale Closing Date. See note 14.

⁽³⁾The payment obligation relating to the Golar Tundra and Golar Crystal above includes variable rental payments due under the lease based on an assumed LIBOR range of 0.38% to 0.42% plus margin.

Schedule of Assets and Liabilities of Lessor VIEs

The assets and liabilities of these lessor VIEs that most significantly impact our consolidated balance sheet as of September 30, 2017 and December 31, 2016, are as follows:



(in thousands of $)	Golar Glacier	Golar Kelvin	Golar Snow	Golar Ice	Golar Tundra (note 2)	Golar Seal	Golar Crystal	September 30, 2017	December 31, 2016
Assets								Total	Total
Restricted cash and short-term deposits	17,673	48,693	12,069	20	7,524	22,747	7,785	116,511	70,021
	17,673	48,693	12,069	20	7,524	22,747	7,785	116,511	70,021

Liabilities
Debt:
Short-term interest bearing debt^*	31,657	182,540	22,391	139,276	198,613	—	112,000	686,477	388,628
Long-term interest bearing debt - current portion^*	7,650	—	8,000	—	—	—	—	15,650	21,532
Long-term interest bearing debt - non-current portion^*	125,370	—	131,062	—	—	157,120	—	413,552	624,384
	164,677	182,540	161,453	139,276	198,613	157,120	112,000	1,115,679	1,034,544

^* Where applicable, these balances are net of deferred finance charges.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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