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Segment Information | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION We own and operate LNG carriers, FLNGs and FSRUs and provide these services under time charters or tolling agreements of varying periods. Our reportable segments consist of the primary services each provides. Although our segments are generally influenced by the same economic factors, each represents a distinct product in the LNG industry. Segment results are evaluated based on net income. The accounting principles for the segments are the same as for our consolidated financial statements. "Project development expenses" are allocated to each segment based on the nature of the project. Indirect general and administrative expenses are allocated to each segment based on estimated use. The split of the organization of the business into three reportable segments is based on differences in management structure and reporting, economic characteristics, customer base, asset class and contract structure. As of June 30, 2020, we operate in the following three reportable segments: •Vessel operations – We operate and subsequently charter out vessels on fixed terms to customers. We also provide technical vessel management services for our fleet as well as the fleets of our affiliates, Golar Partners and Golar Power. •FLNG – We convert LNG carriers into FLNG vessels and subsequently charter them out to customers. We currently have one operational FLNG, the Hilli, and one vessel undergoing conversion into a FLNG, the Gimi (see note 11). •Power – We have a 50/50 joint venture, Golar Power, with private equity firm Stonepeak. Golar Power offers integrated LNG based downstream solutions, through the ownership and operation of FSRUs and associated terminal and power generation infrastructure.
|  | Six months ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands of $) |  | Vessel operations | FLNG | Power | Other (1) | Total |  |  |  |  |  |  |  |  |  |  |  |  |
Statement of Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  | 115,753 |  | 109,048 |  | — |  | — |  | 224,801 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | (30,252) |  | (23,970) |  | — |  | — |  | (54,222) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other operating expenses |  | (56,022) |  | (28,492) |  | — |  | — |  | (84,514) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other operating losses |  | 532 |  | (37,081) |  | — |  | — |  | (36,549) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | 30,011 |  | 19,505 |  | — |  | — |  | 49,516 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inter segment operating income/(loss) (2) |  | 327 |  | — |  | — |  | (327) |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |
Segment operating income/ (loss) |  | 30,338 |  | 19,505 |  | — |  | (327) |  | 49,516 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity in net losses of affiliates (note 12) |  | (147,276) |  | — |  | (30,025) |  | — |  | (177,301) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance Sheet: |  | June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands of $) |  | Vessel operations | FLNG | Power | Other (1) | Total |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | 2,335,443 |  | 1,830,421 |  | 210,088 |  | (6,713) |  | 4,369,239 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in affiliates (note 12) |  | 102,513 |  | — |  | 210,088 |  | — |  | 312,601 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Six months ended June 30, 2019 |  |  |  |
(in thousands of $) |  | Vessel operations | FLNG | Power | Other (1) | Total
Statement of Operations: |  |  |  |  |  |
Total operating revenues |  | 101,984 |  | 109,048 |  | — |  | — |  | 211,032 |
Depreciation and amortization |  | (32,182) |  | (24,102) |  | — |  | — |  | (56,284) |
Other operating expenses |  | (93,305) |  | (28,860) |  | — |  | — |  | (122,165) |
Impairment of long-term assets (3)(4) |  | (41,597) |  | — |  | — |  | — |  | (41,597) |
Other operating gains/(losses) |  | 9,260 |  | 5,183 |  | — |  | — |  | 14,443 |
Operating (loss)/income |  | (55,840) |  | 61,269 |  | — |  | — |  | 5,429 |
Inter segment operating income/(loss) (2) |  | 342 |  | — |  | — |  | (342) |  | — |
Segment operating (loss)/income |  | (55,498) |  | 61,269 |  | — |  | (342) |  | 5,429 |
Equity in net losses of affiliates (note 12) |  | (28,946) |  | — |  | (10,923) |  | — |  | (39,869) |
Balance Sheet: |  | December 31, 2019 |  |  |  |
(in thousands of $) |  | Vessel operations | FLNG | Power | Other (1) | Total
Total assets |  | 2,583,209 |  | 1,793,628 |  | 261,693 |  | (6,386) |  | 4,632,144 |
Investment in affiliates (note 12) |  | 247,112 |  | — |  | 261,693 |  | — |  | 508,805 |
(1) Eliminations required for consolidation purposes. (2) Inter segment operating income/(loss) relates to management fee revenues and charter revenues between the segments. (3) On March 29, 2019 we signed an agreement with LNG Hrvatska for the future sale of the Golar Viking once converted into an FSRU, following the completion of its current charter lease term, which triggered an impairment indicator. The impairment loss of $34.3 million is recognized in operating costs for the write down of the Golar Viking asset to its fair value. Fair value is based on average broker valuation at date of measurement and represents the exit price in the principal LNG carrier sales market. (4) In May 2019, a major shareholder sold its shareholding which triggered a re-assessment of the carrying value of our investment in OLT-O. This resulted in an impairment charge of $7.3 million for the write down of the carrying value in our investment in OLT-O to its fair value.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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