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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
Segment Reporting [Abstract] |
Segment reporting information |
| Year Ended December 31, 2020
(in thousands of $) | Shipping | FLNG | Power | Corporate and other (1) | Total
Statement of Operations: |  |  |  |  |
Total operating revenues | 191,881 |  | 226,061 |  | — |  | 20,695 |  | 438,637 |
Vessel operating expenses | (57,326) |  | (52,104) |  | — |  | 504 |  | (108,926) |
Voyage, charterhire and commission expenses | (12,634) |  | — |  | — |  | — |  | (12,634) |
Administrative expenses | (2,211) |  | (1,672) |  | — |  | (31,428) |  | (35,311) |
Project development expenses | (112) |  | (2,793) |  | — |  | (5,986) |  | (8,891) |
Realized gains on oil derivative instrument (note 2) | — |  | 2,539 |  | — |  | — |  | 2,539 |
Other operating income | 3,262 |  | — |  | — |  | — |  | 3,262 |
Adjusted EBITDA | 122,860 |  | 172,031 |  | — |  | (16,215) |  | 278,676 |
Equity in net losses of affiliates | — |  | — |  | (39,158) |  | (137,369) |  | (176,527) |
| Year Ended December 31, 2019
(in thousands of $) | Shipping | FLNG | Power | Corporate and other (1) | Total
Statement of Operations: |  |  |  |  |
Total operating revenues | 208,766 |  | 218,096 |  | — |  | 21,888 |  | 448,750 |
Vessel operating expenses | (66,502) |  | (55,284) |  | — |  | 496 |  | (121,290) |
Voyage, charterhire and commission expenses (including expenses from collaborative arrangement) | (38,053) |  | (788) |  | — |  | — |  | (38,841) |
Administrative expenses | (2,220) |  | (1,526) |  | — |  | (48,425) |  | (52,171) |
Project development expenses | (964) |  | (3,173) |  | — |  | (853) |  | (4,990) |
Realized gains on oil derivative instrument (note 2) | — |  | 13,089 |  | — |  | — |  | 13,089 |
Other operating income/(losses) | 13,295 |  | (2,962) |  | — |  | — |  | 10,333 |
Adjusted EBITDA | 114,322 |  | 167,452 |  | — |  | (26,894) |  | 254,880 |
Equity in net losses of affiliates | — |  | — |  | (23,234) |  | (22,565) |  | (45,799) |
| Year Ended December 31, 2018
(in thousands of $) | Shipping | FLNG | Power | Corporate and other (1) | Total
Statement of Operations: |  |  |  |  |
Total operating revenues | 278,770 |  | 127,625 |  | — |  | 24,209 |  | 430,604 |
Vessel operating expenses | (67,897) |  | (29,363) |  | — |  | 400 |  | (96,860) |
Voyage, charterhire and commission expenses (including expenses from collaborative arrangement) | (104,397) |  | (1,429) |  | — |  | — |  | (105,826) |
Administrative expenses | (2,221) |  | (140) |  | — |  | (49,181) |  | (51,542) |
Project development expenses | — |  | (16,570) |  | — |  | (5,120) |  | (21,690) |
Realized gains on oil derivative instrument (note 2) | — |  | 26,737 |  | — |  | — |  | 26,737 |
Other operating income/(losses) | 50,740 |  | (14,018) |  | — |  | — |  | 36,722 |
Adjusted EBITDA | 154,995 |  | 92,842 |  | — |  | (29,692) |  | 218,145 |
Equity in net losses of affiliates | — |  | (2,047) |  | (16,913) |  | (138,676) |  | (157,636) |
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
| Year Ended December 31, 2020
(in thousands of $) | Shipping | FLNG | Power | Corporate and other (1) | Total
Balance sheet: |  |  |  |  |
Total assets | 1,870,819 |  | 1,933,677 |  | 200,337 |  | 309,396 |  | 4,314,229 |
Investment in affiliates | — |  | — |  | 200,337 |  | 111,814 |  | 312,151 |
Capital expenditures | 101,380 |  | 223,999 |  | — |  | — |  | 325,379 |
(1) During the year ended December 31, 2020, we recognized an impairment of $135.9 million against our investment in Golar Partners, presented in "Investments in affiliates" in our consolidated balance sheet. See note 14.
| Year Ended December 31, 2019
(in thousands of $) | Shipping (1) | FLNG | Power | Corporate and other | Total
Balance sheet: |  |  |  |  |
Total assets | 2,016,427 |  | 1,814,588 |  | 261,693 |  | 539,436 |  | 4,632,144 |
Investment in affiliates | — |  | — |  | 261,693 |  | 247,112 |  | 508,805 |
Capital expenditures | 35,984 |  | 383,200 |  | — |  | — |  | 419,184 |
(1) During the year ended December 31, 2019, we impaired the LNG Croatia by $34.3 million presented in "Vessels and equipment, net" in our consolidated balance sheet. See note 16.
Revenue by major customer | In the years ended December 31, 2020, 2019 and 2018, revenues from the following customers accounted for over 10% of our consolidated time and voyage charter and liquefaction revenues:
(in thousands of $) | 2020 |  | 2019 |  | 2018
The Cool Pool (1) | — |  |  | — | % |  | 66,691 |  |  | 16 | % |  | 251,070 |  |  | 62 | %
Perenco and SNH (2) | 226,061 |  |  | 54 | % |  | 218,096 |  |  | 51 | % |  | 127,625 |  |  | 31 | %
An international major trading house | 46,090 |  |  | 11 | % |  | 25,371 |  |  | 6 | % |  | — |  |  | — | %
A European major trading house | 43,536 |  |  | 10 | % |  | 8,908 |  |  | 2 | % |  | — |  |  | — | %
(1) The 2019 Cool Pool revenue of $66.7 million includes revenue of $23.4 million that is separately disclosed in the consolidated statements of operations as from a collaborative arrangement. The balance of $43.3 million was derived from Golar vessels operating within the Cool Pool, and is included within the caption "Time and voyage charter revenues" in the consolidated statements of operations. See note 25. (2) LTA with Perenco Cameroon S.A. ("Perenco") and Société Nationale des Hydrocarbures ("SNH"), (together, the "Customer") in relation to the Hilli. See note 7.
Revenue from External Customers by Geographic Areas | The following geographical data presents our revenues from customers and total assets with respect only to our FLNG, while operating under the LTA, in Cameroon. In time and voyage charters for LNG carriers (or our FSRU, operating as a LNG carrier), the charterer, not us, controls the routes of our vessels. These routes can be worldwide as determined by the charterers. Accordingly, the chief operating decision makers do not evaluate our performance either according to customer or geographical region.
(in thousands of $) | 2020 |  | 2019 |  | 2018
Cameroon |  |  |  |  |
Liquefaction services revenue | 226,061 |  |  | 218,096 |  |  | 127,625 |
Total assets | 1,264,085 |  |  | 1,333,779 |  |  | 1,535,389 |

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