XML 222 R59.htm IDEA: XBRL DOCUMENT
v3.22.1

VESSELS AND EQUIPMENT, NET (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Property, Plant and Equipment [Abstract] |
Components of vessels and equipment, net | Useful lives applied in depreciation are as follows:
Vessels (excluding converted FSRU and FLNG) | 40 years
Vessels - converted FSRU | 20 years from conversion date
Vessels - FLNG | 30 years from conversion date
Deferred drydocking expenditure | 5 years
Deferred drydocking expenditure - FLNG | 20 years
Mooring equipment - FLNG | 8 years
Office equipment and fittings | 3 to 6 years
| 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).
Market values and carrying values of vessels | 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.

X
- Definition Tabular disclosure of information about fair value of asset and liability not measured at fair value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2E -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498357-110258 + Details
Name: | us-gaap_FairValueDisclosureOfAssetAndLiabilityNotMeasuredAtFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration