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OPERATING LEASES | 12 Months Ended
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Dec. 31, 2018
Leases [Abstract] |
OPERATING LEASES |
13. | OPERATING LEASES
Rental income The minimum contractual future revenues to be received on time charters in respect of our vessels as of December 31, 2018, were as follows:
Year ending December 31 |
(in thousands of $) |
2019 | 25,851 |
Total | 25,851 |
The cost and accumulated depreciation of vessels leased to third parties at December 31, 2018 and 2017 were $331.5 million and $35.6 million; and $191.1 million and $53.6 million, respectively. Rental expense We are committed to making rental payments under operating leases. The future minimum rental payments under our non-cancellable operating leases are as follows:
Year ending December 31 | Total |
(in thousands of $) |
2019 | 5,417 |
2020 | 3,756 |
2021 | 2,682 |
2022 | 2,425 |
2023 and thereafter | 6,180 |
Total minimum lease payments | 20,460 |
Total rental expense for operating leases was $8.2 million, $19.3 million and $29.6 million for the years ended December 31, 2018, 2017 and 2016, respectively. In prior years, the Golar Grand was chartered back from Golar Partners under agreements executed at the time of its disposals to Golar Partners. The Golar Grand charter-back arrangement with Golar Partners ceased in October 2017. Total rental expense for operating leases for the year ended December 31, 2018 includes $6.1 million of minimum rental expense, $2.2 million of contingent rental expense and sublease rental income of $0.1 million.

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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