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VESSELS AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2021
Property, Plant and Equipment [Abstract] |
VESSELS AND EQUIPMENT, NET |
19. | VESSELS AND EQUIPMENT, NET
| Year Ended December 31, 2021
(in thousands of $) | Vessels and equipment | Mooring equipment | Deferred Drydocking expenditure | Office equipment and fittings | Total
Cost |  |  |  |  |
As of January 1 | 3,298,854 |  | 45,771 |  | 137,951 |  | 8,166 |  | 3,490,742 |
Additions | — |  | — |  | — |  | 87 |  | 87 |
Write-offs (1) | (87) |  | — |  | — |  | (96) |  | (183) |
As of December 31 | 3,298,767 |  | 45,771 |  | 137,951 |  | 8,157 |  | 3,490,646 |
Depreciation, amortization and impairment |  |  |  |  |
As of January 1 | (465,206) |  | (14,820) |  | (23,014) |  | (4,629) |  | (507,669) |
Charge for the year (2) | (86,238) |  | (5,543) |  | (12,587) |  | (1,118) |  | (105,486) |
Write-offs (1) | 87 |  | — |  | — |  | 96 |  | 183 |
As of December 31 | (551,357) |  | (20,363) |  | (35,601) |  | (5,651) |  | (612,972) |
Net book value as at December 31, 2021 | 2,747,410 |  | 25,408 |  | 102,350 |  | 2,506 |  | 2,877,674 |
| Year Ended December 31, 2020
(in thousands of $) | Vessels and equipment | Mooring equipment | Deferred Drydocking expenditure | Office equipment and fittings | Total
Cost |  |  |  |  |
As of January 1 | 3,429,317 |  | 45,771 |  | 140,738 |  | 8,398 |  | 3,624,224 |
Additions | 3,282 |  | — |  | 3,713 |  | 161 |  | 7,156 |
Transfer to asset under development (3) | (127,620) |  | — |  | — |  | — |  | (127,620) |
Write-offs (1) | (6,125) |  | — |  | (6,500) |  | (393) |  | (13,018) |
As of December 31 | 3,298,854 |  | 45,771 |  | 137,951 |  | 8,166 |  | 3,490,742 |
Depreciation, amortization and impairment |  |  |  |  |
As of January 1 | (434,396) |  | (9,106) |  | (16,434) |  | (3,739) |  | (463,675) |
Charge for the year | (87,383) |  | (5,714) |  | (13,080) |  | (1,283) |  | (107,460) |
Transfer to asset under development (3) | 50,448 |  | — |  | — |  | — |  | 50,448 |
Write-offs (1) | 6,125 |  | — |  | 6,500 |  | 393 |  | 13,018 |
As of December 31 | (465,206) |  | (14,820) |  | (23,014) |  | (4,629) |  | (507,669) |
Net book value as at December 31, 2020 | 2,833,648 |  | 30,951 |  | 114,937 |  | 3,537 |  | 2,983,073 |
(1) Write-offs relates to fully depreciated or fully amortized assets. (2) Depreciation and amortization charge for the years ended December 31, 2021 and 2020, excludes $0.5 million and, $0.5 million respectively, of amortization charges in relation to the Cameroon License fee. (3) Relates to the reclassification of LNG Croatia's carrying value and associated accumulated depreciation to “Asset under development” (note 18). The following table presents the market values and carrying values of our vessels that we have determined to have market values that are less than their carrying values as of December 31, 2021. However, based on the estimated future undiscounted cash flows of these vessels, which are significantly greater than the respective carrying values, no impairment was recognized. (in millions of $)
Vessel | 2021 Market value (1) | 2021 Carrying value | Deficit
Golar Arctic | 42.0 | 123.2 | (81.2)
Golar Bear | 156.0 | 172.8 | (16.8)
Golar Crystal | 155.5 | 167.8 | (12.3)
Golar Frost | 156.5 | 175.8 | (19.3)
Golar Glacier | 158.0 | 172.0 | (14.0)
Golar Ice | 160.8 | 179.2 | (18.4)
Golar Kelvin | 160.3 | 173.5 | (13.2)
Golar Seal | 153.3 | 163.0 | (9.7)
Golar Snow | 161.8 | 179.2 | (17.4)
(1) Market values are determined using reference to average broker values provided by independent brokers. Broker values are considered an estimate of the market value for the purpose of determining whether an impairment trigger exists. Broker values are commonly used and accepted by our lenders in relation to determining compliance with relevant covenants in applicable credit facilities for the purpose of assessing security quality. Since vessel values can be volatile, our estimates of market value may not be indicative of either the current or future prices we could obtain if we sold any of the vessels. In addition, the determination of estimated market values may involve considerable judgment, given the illiquidity of the second-hand markets for these types of vessels.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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