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Assets and Liabilities Held for Sale and Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposal groups, including discontinued operations
The following table contains the line-items of the CoolCo Disposal discontinued operations:
Nine months ended September 30,
(in thousands of $)20222021
Time and voyage charter revenues37,289 119,323 
Vessel and other management fees 1,432 — 
Vessel operating expenses(8,466)(37,066)
Voyage, charterhire and commission expenses(1,229)(2,443)
Administrative expenses 1,757 (1,029)
Project development expenses(62)(149)
Depreciation and amortization(5,745)(32,576)
Impairment of long-lived assets (1)
(218,349)— 
Other operating income4,374 5,020 
Operating (loss)/income(188,999)51,080 
Other non-operating losses— (124)
Interest income4 4 
Interest expense(4,725)(16,799)
Other financial items, net(787)(293)
Income taxes(385)(158)
(Loss)/income from discontinued operations(194,892)33,710 
Loss on CoolCo Disposal (2)
(10,060)— 
Net (loss)/income from discontinued operations(204,952)33,710 
(1) Impairment of long-live assets relates to the impairment charge on the held for sale vessels recognized in accordance with ASC 360 Property, plant and equipment, following their classification as held-for-sale.

(2) Loss on CoolCo Disposal comprised of carrying values of the assets and liabilities disposed of $355.4 million, partially offset by the proceeds received, $218.2 million cash consideration and $127.1 million of equity consideration.
The following table contains the financial statement line items forming the assets and liabilities classified as held for sale:

(in thousands of $)December 31, 2021
ASSETS
Current assets
Cash and cash equivalents33,811 
Restricted cash and short-term deposits43,311 
Trade accounts receivable767 
Other current assets1,913 
Total current assets held for sale79,802 
Non-current assets
Restricted cash780 
Vessels and equipment, net1,383,656 
Other non-current assets478 
Total non-current assets held for sale1,384,914 
Total assets held for sale1,464,716 
LIABILITIES
Current liabilities
Current portion of long-term debt and short-term debt(338,501)
Trade accounts payables(7,265)
Accrued expenses(59,094)
Other current liabilities(11,572)
Total current liabilities held for sale(416,432)
Non-current liabilities
Long-term debt(292,322)
Other non-current liabilities(11,778)
Total non-current liabilities held for sale(304,100)
Total liabilities held for sale(720,532)
The table below summarizes the financial performance of CoolCo on a 100% basis:
Nine months ended September 30,
(in thousands of $)20222021
Revenue151,675 125,273 
Adjusted EBITDA109,437 79,019 
Net income63,171 29,220 
The following table contains the line-items of the discontinued operation:
Nine months ended September 30,
(in thousands of $)
2022
2021
Time and voyage charter revenues
22,016 22,634 
Vessel operating expenses
(4,155)(5,109)
Voyage, charterhire and commission expenses
(7,707)(7,997)
Administrative expenses
(1)(45)
Depreciation and amortization
(2,955)(5,319)
Operating income
7,198 4,164 
Interest income
17 2 
Interest expense
(4,649)(1,855)
Other financial items, net
(147)(121)
Income from discontinued operations
2,419 2,190 
Gain on TundraCo Disposal(1)
123,252 — 
Net income from discontinued operations
125,671 2,190 
(1) Gain on TundraCo Disposal comprised of (i) cash proceeds received of $350.0 million, (ii) working capital adjustment of $2.5 million, (iii) partially offset by the net asset value of Golar LNG NB 13 Corporation of $229.0 million and (iv) related fees incurred of $0.2 million.

The following table contains the financial statement line-items forming the assets and liabilities classified as held for sale:
(in thousands of $)
September 30, 2022
December 31, 2021
ASSETS
Current assets
Cash and cash equivalents
41 2,605 
Trade accounts receivable
400 70 
Other current assets
266 153 
Total current assets held for sale
707 2,828 
Non-current assets
Vessels and equipment, net
— 229,495 
Total non-current assets held for sale
— 229,495 
Total assets held for sale
707 232,323 
(in thousands of $)
September 30, 2022
December 31, 2021
LIABILITIES
Current liabilities
Current portion of long-term debt and short-term debt
— (9,911)
Trade accounts payables
(183)(204)
Accrued expenses
(1,217)(737)
Other current liabilities
(2,789)(2,325)
Total current liabilities held for sale
(4,189)(13,177)
Non-current liabilities
Long-term debt
— (145,768)
Total non-current liabilities held for sale
— (145,768)
Total liabilities held for sale
(4,189)(158,945)
The net income of equity method investments from discontinued operations for the nine months ended September 30, 2021, are as follows:
(in thousands of $)
September 30, 2021
Net income from equity method investments of Golar Partners8,116 
Net losses from equity method investments of Hygo(15,008)
Loss from discontinued operations(6,892)
Gain on disposal of equity method investments(1)
574,939 
Net income from discontinued operations568,047 
(1) Gain on disposal of discontinued operations comprised of (i) proceeds received of $876.3 million; (ii) release of our tax indemnity guarantee liability to Golar Partners of $2.1 million; (iii) a partial offset by the carrying values of our investment in affiliates disposed of amounting to $257.2 million as of April 15, 2021; (iv) realized accumulated comprehensive losses on disposal of investment in affiliates of $43.4 million; and (v) related fees of $2.7 million.