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Variable Interest Entities (Tables) | 6 Months Ended
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Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Sale Leaseback Transactions | A summary of this sale and lease back arrangement, including repurchase options and obligations as of June 30, 2018 is provided below:
Vessel | Effective from | Sales value (in $ millions) | First repurchase option (in $ millions) | Date of first repurchase option | Repurchase obligation at end of lease term (in $ millions) | End of lease term
Hilli | June 2018 | 1,200.0 | 633.2 | June 2023 | 300.0 | June 2028
Summary of Bareboat Charters | A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charters with the lessor VIEs as of June 30, 2018, are shown below:
(in thousands of $) | 2018 (1) | 2019 | 2020 | 2021 | 2022 | 2023+
Golar Glacier | 8,620 | 17,100 | 17,147 | 17,100 | 17,100 | 29,984
Golar Kelvin | 8,620 | 17,100 | 17,147 | 17,100 | 17,100 | 32,795
Golar Snow | 8,620 | 17,100 | 17,147 | 17,100 | 17,100 | 32,795
Golar Ice | 8,620 | 17,100 | 17,147 | 17,100 | 17,100 | 35,700
Golar Tundra (2)(3) | 11,445 | 21,910 | 20,833 | 19,739 | 18,695 | 47,532
Golar Seal (3) | 7,513 | 15,193 | 15,151 | 15,151 | 15,151 | 45,495
Golar Crystal (2) | 6,083 | 11,934 | 11,726 | 11,477 | 11,271 | 45,529
Hilli (2) | 64,568 | 126,118 | 121,036 | 116,143 | 111,279 | 505,666
(1) For the six months ending December 31, 2018. (2) The payment obligations relating to the Golar Tundra, Golar Crystal and Hilli above includes variable rental payments due under the lease based on an assumed LIBOR plus margin. (3) The payment obligations relating to the Golar Tundra and Golar Seal above have been prepared on the assumption that we are able to secure a replacement charter for these two vessels, to ensure continuation of these financing arrangements. Refer to note 1 for further details.
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 June 30, 2018 and December 31, 2017, are as follows:
(in thousands of $) | Golar Glacier | Golar Kelvin | Golar Snow | Golar Ice | Golar Tundra | Golar Seal | Golar Crystal | Hilli | June 30, 2018 |  | December 31, 2017
Assets |  |  |  |  |  |  |  |  | Total |  | Total
Restricted cash and short-term deposits | 18,844 |  | 62,319 |  | 18,548 |  | 8 |  | 25,000 |  | 22,141 |  | 2,372 |  | 36,441 |  | 185,673 |  |  | 130,063 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Debt: |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt and short-term debt (1) | 39,314 |  | 182,540 |  | 30,398 |  | 126,508 |  | 155,318 |  | 143,849 |  | 10,075 |  | 148,880 |  | 836,882 |  |  | 833,664 |
Long-term interest bearing debt - non-current portion (1) | 117,841 |  | — |  | 127,189 |  | — |  | — |  | — |  | 89,246 |  | 779,400 |  | 1,113,676 |  |  | 252,691 |
| 157,155 |  | 182,540 |  | 157,587 |  | 126,508 |  | 155,318 |  | 143,849 |  | 99,321 |  | 928,280 |  | 1,950,558 |  |  | 1,086,355 |
(1) Where applicable, these balances are net of deferred finance charges.

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- Definition Tabular disclosure of the bareboat charter rates per day based on Base LIBOR Interest Rate for each of the next five fiscal years succeeding the latest balance sheet date. + References No definition available. + Details
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- Definition Tabular disclosure of sale leaseback transactions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77913982&loc=d3e50796-112755 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77914019&loc=d3e50824-112756 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 40 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77888430&loc=SL77919786-209982 + Details
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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=108788376&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=108788376&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=108788376&loc=d3e5728-111685 + Details
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