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DEBT (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Components of long-term debt (including related parties)

(in thousands of $)	2018			2017
Total long-term and short-term debt	2,565,359			2,410,847
Less: current portion of long-term debt and short-term debt	(730,257	)		(1,384,933	)
Long-term debt	1,835,102			1,025,914

Future repayments of outstanding debt (including related parties)

The outstanding debt as of December 31, 2018 is repayable as follows:

Year ending December 31	Golar debt			VIE debt (1)			Total debt
(in thousands of $)
2019	85,225			646,959			732,184
2020	163,383			82,260			245,643
2021	21,716			82,260			103,976
2022	375,377			82,260			457,637
2023	21,716			82,260			103,976
2024 and thereafter	65,151			873,629			938,780
Total	732,568			1,849,628			2,582,196
Deferred finance charges	(14,494	)		(2,343	)		(16,837	)
Total	718,074			1,847,285			2,565,359

(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 5).

Components of debt

At December 31, 2018 and 2017, our debt was as follows:

(in thousands of $)	2018			2017			Maturity date
Golar Arctic facility	58,300			65,600			2019
Golar Viking facility	46,875			52,083			2020
2017 Convertible bonds	353,661			340,173			2022
Margin Loan	100,000			119,125			2020
FLNG Hilli facility	—			525,000			2018
Hilli shareholder loans:
- Keppel loan	—			44,066			2027
- B&V loan	—			5,000			2027
$1.125 billion facility:
- Golar Bear facility	86,200			96,975			2024/2026*
- Golar Frost facility	87,532			98,474			2024/2026*
Subtotal (excluding lessor VIE loans)	732,568			1,346,496
ICBCL VIE loans:
- Golar Glacier facility	154,226			161,876			2018/2024**
- Golar Snow facility	154,566			162,566			2018/2025**
- Golar Kelvin facility	182,540			182,540			**
- Golar Ice facility	117,888			134,954			**
CMBL VIE loan:
- Golar Tundra facility	121,741			198,613			2026**
CCBFL VIE loan:
- Golar Seal facility	123,524			143,849			2026**
COSCO VIE loan:
- Golar Crystal facility	97,163			104,006			2027**
CSSC VIE loan:
- Hilli facility	897,980			—			2028**
Total debt (gross)	2,582,196			2,434,900
Deferred finance charges	(16,837	)		(24,053	)
Total debt	2,565,359			2,410,847

* The commercial loan tranche matures earlier of the two dates, with the remaining balance maturing at the latter date. However, in the event that the commercial tranche is not refinanced within five years, the lenders have the option to demand repayment. In October 2018, the maturity of the commercial tranche, and consequently the option to the lenders, was extended by five years, to 2024.

** This represents the total loan facilities drawn down by subsidiaries of ICBCL, CMBL, CCBFL, COSCO and CSSC, which we consider to be VIEs. See note 5.

Schedule of tranches

The facility is divided into three tranches, with the following general terms:

Tranche	Proportion of facility	Term of loan from date of drawdown	Repayment terms
K-Sure	40%	12 years	Six-monthly installments
KEXIM	40%	12 years	Six-monthly installments
Commercial	20%	5 years	Six-monthly installments, unpaid balance to be refinanced after 5 years

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