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RECENTLY ISSUED ACCOUNTING STANDARDS (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The change in presentation for the years ended December 31, 2017 and 2016 are as follows:

(in thousands of $)	As previously reported		Adjustments (decrease) increase		As adjusted
December 31, 2016
Administrative expenses	45,960		(8,658	)	37,302
Project development expenses	—		8,658		8,658
December 31, 2017
Administrative expenses	50,334		(12,303	)	38,031
Project development expenses	—		12,303		12,303

The adoption changed how restricted cash is reported in the consolidated statements of cash flows as follows for the twelve months ended December 31, 2017 and 2016:

(in thousands of $)	Cash flow line item	As previously reported		Adjustments decrease		As adjusted
December 31, 2016
OPERATING ACTIVITIES	Restricted cash and short-term deposits	47,834		(47,834	)	—
INVESTING ACTIVITIES	Restricted cash and short-term deposits	22,928		(22,928	)	—
FINANCING ACTIVITIES	Restricted cash and short-term deposits	(74,608	)	74,608		—
As a result of the above changes, the following subtotals as retrospectively restated are as follows:
Net (decrease) increase in cash, cash equivalents and restricted cash		118,955		3,846		122,801
Cash, cash equivalents and restricted cash at beginning of period		105,235		412,182		517,417
Cash, cash equivalents and restricted cash at end of period		224,190		416,028		640,218
December 31, 2017
OPERATING ACTIVITIES	Restricted cash and short-term deposits	57,110		(57,110	)	—
INVESTING ACTIVITIES	Restricted cash and short-term deposits	11,239		(11,239	)	—
FINANCING ACTIVITIES	Restricted cash and short-term deposits	(50,136	)	50,136		—
As a result of the above changes, the following subtotals as retrospectively restated are as follows:
Net (decrease) increase in cash, cash equivalents and restricted cash		(9,328	)	(18,213	)	(27,541	)
Cash, cash equivalents and restricted cash at beginning of period		224,190		416,028		640,218
Cash, cash equivalents and restricted cash at end of period		214,862		397,815		612,677

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

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