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Variable Interest Entities ("VIE") (Tables) | 9 Months Ended
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Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of bareboat charters | A summary of our payment obligations (excluding repurchase options and obligations) under the bareboat charter with the lessor VIE as of September 30, 2022, is shown below:
(in thousands of $) | 2022 (1) | 2023 | 2024 | 2025 | 2026 | 2027+
Hilli (2) | 30,247 | 117,704 | 112,347 | 106,726 | 101,237 | 118,810
(1) For the three months ending December 31, 2022. (2) The payment obligations above include variable rental payments due under the lease based on an assumed LIBOR plus margin.
Schedule of variable interest entities | The assets and liabilities of the lessor VIE that most significantly impact our unaudited consolidated balance sheet as of September 30, 2022 and December 31, 2021, are as follows:
(in thousands of $) | September 30, 2022 | December 31, 2021
Assets |  |
Restricted cash and short-term deposits | 17,503 |  | 16,523 |
Liabilities |  |
Debt: |  |
Current portion of long-term debt and short-term debt (1) | (347,097) |  | (380,554) |
Long-term debt (1) | (171,687) |  | (216,313) |
| (518,784) |  | (596,867) |
(1) Where applicable, these balances are net of deferred finance charges. The most significant impact of the lessor VIE's operations on our unaudited consolidated statements of operations, and unaudited consolidated statements of cash flows are as follows:
(in thousands of $) | Nine months ended September 30,
| 2022 | 2021
Continuing operations
Statement of operations |  |
Interest expense | 5,280 |  | 3,995 |
Statement of cash flows |  |
Net debt repayments | (80,492) |  | (64,854) |
Net debt receipts | 2,287 |  | 2,848 |
(in thousands of $) | Nine months ended September 30,
| 2022 | 2021
Discontinued operations
Statement of operations |  |
Interest expense | 3,814 |  | 16,472 |
Statement of cash flows |  |
Net debt repayments | — |  | (132,454) |
Net debt receipts | — |  | 10,073 |
Financing costs paid | — |  | (700) |
The assets and liabilities of Hilli LLC(1) that most significantly impact our unaudited consolidated balance sheet are as follows:
(in thousands of $) | September 30, 2022 | December 31, 2021
Balance sheet |  |
Current assets | 118,539 |  | 157,643 |
Non-current assets | 1,662,370 |  | 1,280,217 |
Current liabilities | (384,071) |  | (444,352) |
Non-current liabilities | (223,583) |  | (270,371) |
(1) As Hilli LLC is the primary beneficiary of the Hilli Lessor VIE (see above) the Hilli LLC balances include the Hilli Lessor VIE. The most significant impact of Hilli LLC VIE's operations on our unaudited consolidated statements of income, and unaudited consolidated statements of cash flows, are as follows:
(in thousands of $) | Nine months ended September 30,
| 2022 | 2021
Statement of operations |  |
Liquefaction services revenue | 178,314 |  | 164,614 |
Realized and unrealized gain on oil and gas derivative instruments | 516,668 |  | 157,119 |
Statement of cash flows |  |
Net debt repayments | (80,492) |  | (64,854) |
Net debt receipts | 2,287 |  | 2,848 |
Cash dividends paid | (39,293) |  | (24,437) |
The assets and liabilities of Gimi MS that most significantly impact our consolidated balance sheet are as follows:
(in thousands of $) | September 30, 2022 | December 31, 2021
Balance sheet |  |
Current assets | 12,048 |  | 7,107 |
Non-current assets | 1,153,984 |  | 877,835 |
Current liabilities | (12,837) |  | (18,127) |
Non-current liabilities | (515,732) |  | (389,244) |
The most significant impact of Gimi MS VIE's operations on our unaudited consolidated statements of cash flows, is as follows:
(in thousands of $) | Nine months ended September 30,
| 2022 | 2021
Statement of cash flows |  |
Additions to asset under development | (220,354) |  | (183,305) |
Capitalized financing costs | (2,748) |  | (4,432) |
Net debt receipts | 125,000 |  | 110,000 |
Proceeds from subscription of equity interest | 26,903 |  | 16,872 |

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- Definition Tabular disclosure of the bareboat charter rates per day + References No definition available. + Details
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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685 + Details
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