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INVESTMENTS IN AFFILIATES (Tables) | 12 Months Ended
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Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Participation percentages, carrying amounts and components of non-consolidated investees | At December 31, 2020 and 2019, we have the following participation in investments that are recorded using the equity method:
| 2020 |  | 2019
Golar Partners (1) | 32.8 | % |  | 32.0 | %
Egyptian Company for Gas Services S.A.E (“ECGS”) | 50.0 | % |  | 50.0 | %
Hygo | 50.0 | % |  | 50.0 | %
Avenir LNG Limited (“Avenir”) | 23.1 | % |  | 22.5 | %
(1) As of December 31, 2020, we held a 32.8% (2019: 32.0%) ownership interest in Golar Partners (including our 2% general partner interest) and 100% of the IDRs. The carrying amounts of our investments in our equity method investments as at December 31, 2020 and 2019 are as follows:
(in thousands of $) | 2020 |  | 2019
Golar Partners | 67,429 |  |  | 214,296 |
Hygo | 200,337 |  |  | 261,693 |
Avenir | 39,984 |  |  | 28,101 |
ECGS | 4,401 |  |  | 4,715 |
Equity in net assets of affiliates | 312,151 |  |  | 508,805 |
The components of equity in net assets of non-consolidated affiliates are as follows:
(in thousands of $) | 2020 |  | 2019
Balance as of January 1, | 508,805 |  |  | 571,782 |
Additions | 5,419 |  |  | 7,348 |
Capitalized interest | 2,718 |  |  | 15,996 |
Dividends | (10,584) |  |  | (36,726) |
Equity in net losses of affiliates | (40,644) |  |  | (45,799) |
Impairment of investment in affiliate (1) | (135,883) |  |  | (500) |
Share of other comprehensive income of affiliates | (17,680) |  |  | (3,296) |
Balance as at December 31, | 312,151 |  | 508,805
(1) In 2018, we entered into an agreement to form the Cool Company Limited, (“Cool Co”) with the intention to spin-off our LNG shipping fleet. Under the shareholders' agreement, we contributed $0.5 million representing 49.5% of the Cool Co. In 2019, due to misalignment of interests between the founding parties, we withdrew from the process. Subsequently, in December 2019, we acquired the remaining shareholding in Cool Co. and recognized an impairment charge of $0.5 million.
Summarized financial information of affiliated undertakings | Summarized financial information of the affiliated undertakings shown on a 100% basis are as follows:
(in thousands of $) | December 31, 2020
| ECGS | Golar Partners | Hygo | Avenir
Balance Sheet |  |  |  |
Current assets | 26,589 |  | 146,821 |  | 109,596 |  | 18,275 |
Non-current assets | 88 |  | 1,880,840 |  | 917,976 |  | 151,940 |
Current liabilities | (15,925) |  | (832,277) |  | (97,245) |  | (18,950) |
Non-current liabilities | (931) |  | (570,063) |  | (453,278) |  | (26,744) |
Non-controlling interests | — |  | 82,112 |  | 13,557 |  | — |
(in thousands of $) | December 31, 2020
| ECGS | Golar Partners | Hygo | Avenir
Statement of Operations |  |  |  |
Revenue | 31,441 |  | 284,734 |  | 47,295 |  | 2,340 |
Net (loss)/income | (486) |  | 18,077 |  | (61,859) |  | (6,006) |
(in thousands of $) | December 31, 2019
| ECGS | Golar Partners | Hygo | Avenir
Balance Sheet |  |  |  |
Current assets | 27,719 |  | 133,299 |  | 126,406 |  | 26,198 |
Non-current assets | 95 |  | 1,972,313 |  | 1,028,386 |  | 71,742 |
Current liabilities | (16,024) |  | (309,154) |  | (232,200) |  | (3,641) |
Non-current liabilities | (1,203) |  | (1,143,764) |  | (338,351) |  | (4,830) |
Non-controlling interests | — |  | 83,231 |  | 7,090 |  | — |
Statement of Operations |  |  |  |
Revenue | 32,052 |  | 299,652 |  | 45,223 |  | 1,058 |
Net income/(loss) | 297 |  | 21,134 |  | (6,928) |  | (7,878) |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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