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Segment Information | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATIONIn the 2020 Form 20-F, we changed the way in which we report and measure our reportable segments. The main driver of the change is the alignment of presentation and contents of financial information provided to our chief operating decision maker (our Board of Directors), required to allocate resources, evaluate and manage both our standalone operating segments and our overall business performance. The key impacts are our segments' profit measure are now based on Adjusted EBITDA across our four reportable segments: Shipping; FLNG; Power and Corporate and other. Refer to note 6 to our consolidated financial statements filed with the 2020 Form 20-F for additional details. In January 2021, following the board of directors' approvals of the GMLP Merger and Hygo Merger with NFE (note 9), we determined that our share of the net earnings/(losses) in Golar Partners and Hygo and the respective carrying values of our investments in affiliates have to be presented as net income/(loss) from discontinued operations and assets held for sale, respectively (note 9). Consequently, for the six months ended June 30, 2021, we ceased to consider Power as a reportable segment. Management has therefore concluded that we provide and operate three distinct reportable segments as follows: •Shipping – This segment is based on the business activities of the transportation of LNG carriers. We operate and subsequently charter out LNG carriers on fixed terms to customers. •FLNG – This segment is based on the business activities of FLNG vessels or projects. We convert LNG carriers into FLNG vessels and subsequently charter them out to customers. We currently have one operational FLNG, the Hilli, one undergoing conversion into a FLNG, the Gimi (note 13), and one LNG carrier earmarked for conversion, the Gandria. •Corporate and other – This segment is based on the business activities of vessel management and administrative services and our corporate overhead costs.
|  | Six months ended June 30, 2021 |  |  |  |
(in thousands of $) |  | Shipping | FLNG | Corporate and other (1) | Total results from continuing operations | Results from discontinued operations | Total |  |  |  |  |  |  |  |  |  |  |  |  |
Statement of Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  | 104,699 |  | 110,134 |  | 15,281 |  | 230,114 |  | — |  | 230,114 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Vessel operating expenses |  | (30,902) |  | (26,046) |  | (5,181) |  | (62,129) |  | — |  | (62,129) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Voyage, charterhire and commission expenses |  | (9,389) |  | (300) |  | (41) |  | (9,730) |  | — |  | (9,730) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Administrative expenses |  | (253) |  | (328) |  | (17,887) |  | (18,468) |  | — |  | (18,468) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Project development expenses |  | — |  | (745) |  | (149) |  | (894) |  | — |  | (894) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized gains on oil derivative instrument (note 2) |  | — |  | 2,975 |  | — |  | 2,975 |  | — |  | 2,975 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other operating income |  | 2,770 |  | — |  | — |  | 2,770 |  | — |  | 2,770 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjusted EBITDA |  | 66,925 |  | 85,690 |  | (7,977) |  | 144,638 |  | — |  | 144,638 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance Sheet: |  | June 30, 2021 |  |  |  |
(in thousands of $) |  | Shipping | FLNG | Corporate and other (1) | Segment assets from continuing operations | Assets held for sale | Total assets |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | 1,837,620 |  | 2,150,736 |  | 957,741 |  | 4,946,097 |  | — |  | 4,946,097 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in affiliates (note 14) |  | — |  | — |  | 51,292 |  | 51,292 |  | — |  | 51,292 |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Six months ended June 30, 2020
(in thousands of $) |  | Shipping | FLNG | Corporate and other (1) | Total results from continuing operations | Results from Discontinued operations | Total
Statement of Operations: |  |  |  |  |  |  |
Total operating revenues |  | 105,572 |  | 109,048 |  | 10,181 |  | 224,801 |  | — |  | 224,801 |
Vessel operating expenses |  | (27,796) |  | (26,971) |  | 291 |  | (54,476) |  | — |  | (54,476) |
Voyage, charterhire and commission expenses |  | (6,366) |  | — |  | — |  | (6,366) |  | — |  | (6,366) |
Administrative expenses |  | (980) |  | (597) |  | (17,158) |  | (18,735) |  | — |  | (18,735) |
Project development expenses |  | (66) |  | (1,399) |  | (3,472) |  | (4,937) |  | — |  | (4,937) |
Realized gains on oil derivative instrument (note 2) |  | — |  | 2,539 |  | — |  | 2,539 |  | — |  | 2,539 |
Other operating income |  | 532 |  | — |  | — |  | 532 |  | — |  | 532 |
Adjusted EBITDA |  | 70,896 |  | 82,620 |  | (10,158) |  | 143,358 |  | — |  | 143,358 |
Balance Sheet: |  | December 31, 2020
(in thousands of $) |  | Shipping | FLNG | Corporate and other (1) | Segment assets from continuing operations | Assets held for sale | Total assets
Total assets |  | 1,870,819 |  | 1,933,677 |  | 241,967 |  | 4,046,463 |  | 267,766 |  | 4,314,229 |
Investment in affiliates (note 14) |  | — |  | — |  | 44,385 |  | 44,385 |  | — |  | 44,385 |
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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