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Debt | 9 Months Ended
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Sep. 30, 2018
Debt Disclosure [Abstract] |
Debt | DEBT As of September 30, 2018 and December 31, 2017, our debt was as follows:
(in thousands of $) | September 30, 2018 |  | December 31, 2017 |
Golar Arctic facility | 60,125 |  | 65,600 |
Golar Viking facility | 48,177 |  | 52,083 |
2017 convertible bonds | 350,148 |  | 340,173 |
Margin loan (1) | 100,000 |  | 119,125 |
FLNG Hilli facility (2) | — |  | 525,000 |
Hilli shareholder loans (6) | — |  | 49,066 |
$1.125 billion facility (7) | 179,202 |  | 195,449 |
Subtotal (excluding lessor VIE loans) | 737,652 |  | 1,346,496 |
ICBCL VIE loans (3) | 617,365 |  | 641,936 |
CCBFL VIE loan (3) | 143,849 |  | 143,849 |
CMBL VIE loan (3) | 125,937 |  | 198,613 |
COSCO Shipping VIE loan (3)(4) | 98,727 |  | 104,006 |
CSSC VIE loan (2)(3)(5) | 913,130 |  | — |
Total debt | 2,636,660 |  | 2,434,900 |
Less: Deferred finance charges | (17,080 | ) | (24,053 | )
Total debt, net of deferred finance charges | 2,619,580 |  | 2,410,847 |
(1) During July 2018, amendments to the existing margin loan facility, secured by units in Golar Partners, were completed. Although most of the existing terms remain substantially unchanged, the facility will no longer amortize. Subject to the satisfaction of certain covenants, no further principal repayments will be required ahead of maturity in March 2020. (2) In June 2018, we repaid $640.0 million on the pre-delivery credit facility and drew down $960.0 million on the post-acceptance sale and leaseback financing (the "Hilli Facility") in relation to the FLNG Hilli facility. The sale and leaseback arrangement is provided by a related party of CSSC. (3) See note 8. (4) In April 2018, the SPV, Oriental Fleet LNG 01 Limited, which owns the Golar Crystal, entered into a long-term loan facility for $101.0 million. The loan facility is provided by a related party of COSCO Shipping. The loan facility is denominated in USD, is a 10 year loan, limited to the term of the bareboat charter, bears interest at LIBOR plus a margin and is repayable in monthly installments with a balloon payment on maturity. (5) On July 12, 2018, we entered into an agreement to guarantee the debt payable by Hilli Corp to creditor Fortune Lianjiang Shipping S.A. Under the guarantee we are severally liable for any outstanding principal, interest, expenses and other amounts that are payable, on a pro rata basis to our ownership in Common Units in Golar Hilli LLC. As of September 30, 2018 the amount we have guaranteed is $456.6 million. (6) The Hilli shareholder loans were converted to equity on the Closing Date of the Hilli Disposal. (7) During October 2018, amendments to the existing $1.125 billion facility were completed, extending the term of the commercial tranche by 5 years. At September 30, 2018, our debt can be broken down as follows:
| Golar debt |  | VIE debt (1) |  | Total debt |
(in thousands of $) |  |  |
Current portion of long-term debt and short-term debt | 31,900 |  | 799,011 |  | 830,911 |
Long-term debt | 691,130 |  | 1,097,539 |  | 1,788,669 |
Total | 723,030 |  | 1,896,550 |  | 2,619,580 |
(1) These amounts relate to certain lessor entities (for which legal ownership resides with financial institutions) that we are required to consolidate under U.S. GAAP into our financial statements as variable interest entities (see note 8). CSSC VIE loan In June 2018, we repaid $640.0 million on the pre-delivery credit facility and entered into a sale and leaseback transaction pursuant to which we sold the Hilli to a CSSC entity ("Hilli Lessor VIE"), and leased back the vessel under a bareboat charter for a monthly hire rate. As discussed in note 8, while we have no control over the funding arrangements of Hilli Lessor VIE, we consider ourselves to be the primary beneficiary and therefore are required to consolidate the Hilli Lessor VIE’s funding arrangements into our financial statements. Accordingly, in June 2018, Hilli Lessor VIE, which is the legal owner of the Hilli, entered into a secured financing agreement for $840.0 million. This loan facility is a 10 year non-recourse loan denominated in USD, bears interest at LIBOR plus a margin and is repayable in quarterly installments with a balloon payment on maturity. In addition to this facility, Hilli Lessor VIE entered into an internal loan with CSSC for $120.0 million. This loan bears no interest and is repayable on demand.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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