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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Net loss $ (167,930) $ (122,375) $ (168,214)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 107,923 113,033 93,689
Gain on disposal of long lived asset (5,682) 0 0
Deconsolidation of lessor VIE (4,809) 0 0
Impairment of non-current assets [1] 0 7,347 0
Impairment of long-lived assets 0 34,751 0
Amortization of deferred charges and debt guarantees 3,890 6,527 7,734
Equity in net losses of affiliates 176,527 45,799 157,636
Dividends received 0 7,609 15,837
Drydocking expenditure (10,622) (24,881) 0
Compensation cost related to employee stock awards 5,421 8,882 11,481
Net foreign exchange losses 3,221 1,241 1,997
Change in assets and liabilities:      
Trade accounts receivable (4,178) 39,448 (49,938)
Inventories (305) 5,778 402
Other current and non-current assets (15,822) (5,868) (13,532)
Amounts due to related companies 11,632 2,354 (16,540)
Trade accounts payable 3,832 (678) (24,813)
Accrued expenses 3,769 (39,683) 12,191
Other current and non-current liabilities [2] (52,392) (56,224) 40,164
Net cash provided by operating activities 145,783 106,545 116,674
Investing activities      
Additions to vessels and equipment (3,880) (24,389) (33,111)
Additions to asset under development (298,304) (376,276) (116,715)
Additions to investments in affiliates (12,640) (20,994) (95,503)
Dividends received 10,584 29,207 33,185
Short-term loan advanced to related parties (45,000) 0 0
Proceeds from repayment of short-term loan advanced to related parties 45,000 0 0
Proceeds from disposals to Golar Partners, net of cash disposed 0 9,652 9,652
Proceeds from subscription of equity interest in Gimi MS Corporation 11,081 115,246 0
Proceeds from disposal of long-lived assets 190,131 3,160 0
Net cash used in investing activities (103,028) (264,394) (202,492)
Financing activities      
Proceeds from short-term and long-term debt (including related parties) 729,707 524,278 1,177,748
Repayments of short-term and long-term debt (including related parties) (934,534) (552,195) (994,874)
Net proceeds from the issuance of equity 99,831 0 0
Acquisition of non-controlling interests 0 0 36,532
Cash dividends paid (26,072) (65,004) (42,873)
Proceeds from exercise of share options 0 0 2,686
Financing costs paid (14,577) (24,464) (1,817)
Purchase of treasury shares (16,650) (18,615) 0
Net cash (used in)/provided by financing activities (162,295) (136,000) 177,402
Net (decrease)/increase in cash, cash equivalents and restricted cash (119,540) (293,849) 91,584
Cash, cash equivalents and restricted cash at beginning of period 410,412 704,261 612,677
Cash, cash equivalents and restricted cash at end of period 290,872 410,412 704,261
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 56,267 148,072 29,832
Income taxes paid 1,181 663 1,469
Cash, cash equivalents, restricted cash and restricted cash equivalents 410,412 410,412 612,677
Energy Related Derivative, Excluding Oil      
Adjustments to reconcile net loss to net cash provided by operating activities:      
Change in fair value of derivative instruments 46,208 44,395 38,610
Oil derivative instrument      
Adjustments to reconcile net loss to net cash provided by operating activities:      
Change in fair value of derivative instruments $ 45,100 $ 39,090 $ 9,970
[1] Investment in OLT-O refers to our investment in an Italian incorporated unlisted company which is involved in the construction, development, operation and maintenance of a FSRU terminal to be situated off the Livorno coast of Italy, representing a 2.7% interest in OLT-O’s issued share capital. 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 in the year ended December 31, 2019.
[2] Includes accretion of discount on convertible bonds of $15.6 million, $14.5 million and $13.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.