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Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Reconciliation of net profit / (loss) to adjusted EBITDA

A reconciliation of net profit / (loss) to Adjusted EBITDA is as follows:

			Nine months ended September 30,
(in thousands of $)			2021			2020
Net profit / (loss)			514,804			(206,572)
Income taxes			565			598
Profit/(loss) before income taxes			515,369			(205,974)
Depreciation and amortization			79,488			81,097
Unrealized (gain)/loss on oil and gas derivative instruments (note 2)			(145,282)			39,400
Other non-operating losses, net			311,916			—
Interest income			(67)			(1,432)
Interest expense			42,776			54,137
(Gains)/losses on derivative instruments			(17,063)			54,543
Other financial items, net			(524)			(1,986)
Equity in net losses of affiliates			561			391
Net (income)/loss from discontinued operations			(568,047)			180,469
Adjusted EBITDA			219,127			200,645

Segment Reporting Information

						Nine months ended September 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						150,528			164,614			21,575			336,717			—			336,717
Vessel operating expenses						(47,118)			(39,289)			(7,658)			(94,065)			—			(94,065)
Voyage, charterhire and commission expenses						(10,600)			(450)			(66)			(11,116)			—			(11,116)
Administrative expenses						(457)			(185)			(26,429)			(27,071)			—			(27,071)
Project development expenses						—			(2,116)			(79)			(2,195)			—			(2,195)
Realized gains on oil derivative instrument (note 2)						—			11,837			—			11,837			—			11,837
Other operating income						5,020			—			—			5,020			—			5,020
Adjusted EBITDA						97,373			134,411			(12,657)			219,127			—			219,127
Balance Sheet:						September 30, 2021
(in thousands of $)						Shipping			FLNG			Corporate and other (1)			Segment assets from continuing operations			Assets held for sale			Total assets
Total assets						1,830,057			2,267,252			706,844			4,804,153			—			4,804,153
Investment in affiliates (note 14)						—			—			50,573			50,573			—			50,573

						Nine months ended September 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						141,154			163,572			15,227			319,953			—			319,953
Vessel operating expenses						(42,695)			(40,430)			416			(82,709)			—			(82,709)
Voyage, charterhire and commission expenses						(6,842)			—			—			(6,842)			—			(6,842)
Administrative expenses						(1,416)			(803)			(24,505)			(26,724)			—			(26,724)
Project development expenses						(105)			(1,430)			(4,569)			(6,104)			—			(6,104)
Realized gains on oil derivative instrument (note 2)						—			2,539			—			2,539			—			2,539
Other operating income						532			—			—			532			—			532
Adjusted EBITDA						90,628			123,448			(13,431)			200,645			—			200,645
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.

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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