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Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment information SEGMENT INFORMATION
We provide and operate three distinct reportable segments as follows:

•Shipping – This segment is based on the business activities of the transportation of LNG carriers. We operate and subsequently charter out LNG carriers on fixed terms to customers.
•FLNG – This segment is based on the business activities of FLNG vessels or projects. We convert LNG carriers into FLNG vessels, or build new FLNG vessels and subsequently charter them out to customers. We currently have one operational FLNG, the Hilli, and one undergoing conversion into a FLNG, the Gimi (note 15).
•Corporate and other – This segment is based on the business activities of vessel management, FSRU services for third parties and administrative services and our corporate overhead costs.
A reconciliation of net income to Adjusted EBITDA is as follows:
Nine months ended September 30,
(in thousands of $)20222021
Net income871,987 514,803 
Income taxes
335 407 
Income before income taxes872,322 515,210 
Depreciation and amortization39,328 41,592 
Impairment of long-term assets (1)
76,155 — 
Unrealized gain on oil and gas derivative instruments (note 7)
(361,972)(145,282)
Realized and unrealized (gains)/losses on our investment in listed equity securities (note 8)(346,497)244,210 
Other non-operating (income)/losses (note 8)(11,267)67,582 
Interest income(4,013)(61)
Interest expense15,589 24,121 
Gains on derivative instruments (note 9)(73,330)(17,062)
Other financial items, net (note 9)3,255 (938)
Net (income)/loss from equity method investments (note 16)
(12,996)562 
Net loss/(income) from discontinued operations (note 11)
79,281 (603,947)
Adjusted EBITDA275,855 125,987 
(1) In May 2022, we entered into a sale and purchase agreement (the “Arctic SPA”) with SNAM RETE GAS S.p.A (part of “Snam”), pursuant to which, upon receipt of a notice to proceed, we will convert LNG carrier Golar Arctic to a FSRU, deliver, install and connect her to Snam's mooring, and following completion of commissioning activities and provisional acceptance, we will sell her to Snam. Entry into the Arctic SPA changes the expected recovery of Golar Arctic's carrying amount from continued use in operations over her remaining useful life, to recovery from sale, and was considered an indicator of impairment. As the revised future estimated cash flows were less than her carrying amount, an impairment charge of $76.2 million was recognized, reflecting an adjustment to her fair value (based on average broker valuation at date of measurement and represents the exit price in the principal LNG carrier sales market).
Nine months ended September 30, 2022
(in thousands of $)ShippingFLNG
Corporate and other (1)
Total results from continuing operations
Statement of Operations:
Total operating revenues4,216 178,314 26,261 208,791 
Vessel operating expenses
(5,676)(43,380)(4,861)(53,917)
Voyage, charterhire and commission expenses
(1,699)(450)(25)(2,174)
Administrative expenses
65 (22)(30,552)(30,509)
Project development expenses
— (2,917)1,586 (1,331)
Realized gain on oil and gas derivative instruments, net (note 7)
— 154,696 — 154,696 
Other operating income— 299 — 299 
Adjusted EBITDA(3,094)286,540 (7,591)275,855 
Balance Sheet:September 30, 2022
(in thousands of $)ShippingFLNG
Corporate and other (1)
Segment assets from continuing operationsAssets held for saleTotal assets
Total assets47,951 2,944,622 1,392,964 4,385,537 707 4,386,244 
Equity method investments (note 16)145,804 — 51,108 196,912 — 196,912 
Nine months ended September 30, 2021
(in thousands of $)ShippingFLNG
Corporate and other (1)
Total results from continuing operations
Statement of Operations:
Total operating revenues8,571 164,614 21,575 194,760 
Vessel operating expenses
(4,942)(39,288)(7,659)(51,889)
Voyage, charterhire and commission expenses
(160)(450)(66)(676)
Administrative expenses
(145)(185)(25,638)(25,968)
Project development expenses
— (2,116)39 (2,077)
Realized gain on oil and gas derivative instruments, net (note 7)
— 11,837 — 11,837 
Adjusted EBITDA3,324 134,412 (11,749)125,987 

Balance Sheet:December 31, 2021
(in thousands of $)ShippingFLNG
Corporate and other (1)
Segment assets from continuing operationsAssets held for saleTotal assets
Total assets128,901 2,314,342 808,013 3,251,256 1,697,039 4,948,295 
Equity method investments (note 16)— — 52,215 52,215 — 52,215 
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.