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BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2021
Accounting Policies [Abstract] |
Schedule of changes in presentation of Net income/(losses) from equity method investments | The retrospective changes in presentation for the prior periods are shown below:
Consolidated Statements of Operations | 2020 |  | 2019
(in thousands of $) | As previously reported | Adjustments Increase/ (Decrease) | Restated |  | As previously reported | Adjustments Increase/ (Decrease) | Restated
Net losses from equity method investments | (176,527) |  | 175,989 |  | (538) |  |  | (45,799) |  | 43,284 |  | (2,515) |
Net loss from discontinued operations | — |  | (175,989) |  | (175,989) |  |  | — |  | (43,284) |  | (43,284) |
Consolidated Balance Sheet | 2020
(in thousands of $) | As previously reported | Adjustments Increase/ (Decrease) | Restated
Equity method investments | 312,151 |  | (267,766) |  | 44,385 |
Assets held for sale | — |  | 267,766 |  | 267,766 |
Consolidated Statements of Cash Flows | 2020 |  | 2019
(in thousands of $) | As previously reported | Adjustments Increase/ (Decrease) | Restated |  | As previously reported | Adjustments Increase/ (Decrease) | Restated
Net cash provided by operating activities |  |  |  |  |  |  |
Net losses from equity method investments | (176,527) |  | 175,989 |  | (538) |  |  | (45,799) |  | 43,284 |  | (2,515) |
Net loss from discontinued operations | — |  | (175,989) |  | (175,989) |  |  | — |  | (43,284) |  | (43,284) |
Dividend received | — |  | — |  | — |  |  | 7,609 |  | (7,609) |  | — |
Dividend received from discontinued operations | — |  | — |  | — |  |  | — |  | 7,609 |  | 7,609 |
Net cash provided by operating activities | (176,527) |  | — |  | (176,527) |  |  | (38,190) |  | — |  | (38,190) |
Net cash (used in)/provided by investing activities |  |  |  |  |  |  |
Additions to equity method investments | (12,640) |  | 2,410 |  | (10,230) |  |  | (20,994) |  | 19,730 |  | (1,264) |
Dividends received | 10,584 |  | (10,584) |  | — |  |  | 29,207 |  | (29,207) |  | — |
Short-term loan advanced to related parties | (45,000) |  | 45,000 |  | — |  |  | — |  | — |  | — |
Proceeds from repayment of short-term loan advanced to related parties | 45,000 |  | (45,000) |  | — |  |  | — |  | — |  | — |
Proceeds from disposals to Golar Partners, net of cash disposed | — |  | — |  | — |  |  | 9,652 |  | (9,652) |  | — |
Net cash (used in)/provided by investing activities | (2,056) |  | (8,174) |  | (10,230) |  |  | 17,865 |  | (19,129) |  | (1,264) |
Net cash (used in)/provided by discontinued investing activities |  |  |  |  |  |  |
Additions to equity method investments | — |  | (2,410) |  | (2,410) |  |  | — |  | (19,730) |  | (19,730) |
Dividends received | — |  | 10,584 |  | 10,584 |  |  | — |  | 29,207 |  | 29,207 |
Short-term loan advanced to related parties | — |  | (45,000) |  | (45,000) |  |  | — |  | — |  | — |
Proceeds from repayment of short-term loan advanced to related parties | — |  | 45,000 |  | 45,000 |  |  | — |  | — |  | — |
Proceeds from disposals to Golar Partners, net of cash disposed | — |  | — |  | — |  |  | — |  | 9,652 |  | 9,652 |
Net cash (used in)/provided by discontinued investing activities | — |  | 8,174 |  | 8,174 |  |  | — |  | 19,129 |  | 19,129 |
Schedule of useful lives applied in depreciation | 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).

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