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Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Price Risk Derivatives

The realized and unrealized gain/(loss) on oil and gas derivative instruments are as follows:

(in thousands of $)			Nine months ended September 30,
			2021			2020
Realized gain on oil derivative instrument			11,837			2,539
Unrealized gain/(loss) on oil and gas derivative instruments			145,282			(39,400)
			157,119			(36,861)

Schedule of Error Corrections and Prior Period Adjustments

The changes in presentation for the prior periods are shown below:

Unaudited Consolidated Statements of Operations			Nine months ended September, 2020
(in thousands of $)			As previously reported			Adjustments Increase/ (Decrease)			Restated
Equity in net losses of affiliates			(180,860)			180,469			(391)
Net loss from discontinued operations			—			(180,469)			(180,469)

Consolidated Balance Sheet			December 31, 2020
(in thousands of $)			As previously reported			Adjustments Increase/ (Decrease)			Restated
Investment in affiliates			312,151			(267,766)			44,385
Assets held for sale			—			267,766			267,766

Unaudited Statements of Cashflows			Nine months ended September 30, 2020
(in thousands of $)			As previously reported			Adjustments (decrease) increase			Restated
Net cash provided by operating activities
Equity in net losses of affiliates			180,860			(180,469)			391
Loss from discontinued operations			—			180,469			180,469
Net cash (used in)/provided by investing activities
Additions to investments in affiliates			(10,726)			2,410			(8,316)
Dividends received			10,124			(10,124)			—
Short-term loan advanced to related parties			(40,000)			40,000			—
Proceeds from repayment of short-term loan advanced to related parties			40,000			(40,000)			—
Net cash (used in)/provided by discontinued investing activities
Additions to investments in affiliates			—			(2,410)			(2,410)
Dividends received			—			10,124			10,124
Short-term loan advanced to related parties			—			(40,000)			(40,000)
Proceeds from repayment of short-term loan advanced to related parties			—			40,000			40,000

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of price risk derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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