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ASSETS AND LIABILITIES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of disposal groups, including discontinued operations
The net income/(loss) from discontinued operations for the years ended December 31, 2022, 2021 and 2020 are as follows:

Year Ended December 31, 2022
(in thousands of $)CoolCoTundraCoGolar Partners and HygoTotal
(Loss)/income from discontinued operations(194,500)4,880 — (189,620)
(Loss)/ gain on disposal(10,060)123,230 — 113,170 
Net (loss)/income from discontinued operations(204,560)128,110 — (76,450)

Year Ended December 31, 2021
(in thousands of $)CoolCoTundraCoGolar Partners and HygoTotal
(Loss)/income from discontinued operations54,534 2,806 (6,892)50,448 
Gain on disposal— — 574,941 574,941 
Net income from discontinued operations54,534 2,806 568,049 625,389 

Year Ended December 31, 2020
(in thousands of $)CoolCoTundraCoGolar Partners and HygoTotal
Income/(loss) from discontinued operations36,699 (3,622)(175,989)(142,912)
Net income/(loss) from discontinued operations36,699 (3,622)(175,989)(142,912)
The following table contains the financial statement line-items presented as discontinued operations following the CoolCo Disposal:
Year ended December 31,
(in thousands of $)202220212020
Time and voyage charter revenues37,289 161,957 164,740 
Vessel and other management fees 1,815 — — 
Vessel operating expenses(8,466)(49,446)(46,400)
Voyage, charterhire and commission expenses(1,229)(709)(11,228)
Administrative expenses 1,906 476 (772)
Project development expenses(62)(362)(275)
Depreciation and amortization(5,807)(43,497)(44,437)
Impairment of long-lived assets (1)
(218,349)— — 
Other operating income4,374 5,020 3,262 
Operating (loss)/income(188,529)73,439 64,890 
Other non-operating losses— (124)— 
Interest income4 7 67 
Interest expense(4,725)(18,087)(26,954)
Other financial items, net(799)(401)(902)
Pretax (loss)/income from discontinued operations(194,049)54,834 37,101 
Income taxes(451)(300)(402)
(Loss)/income from discontinued operations(194,500)54,534 36,699 
Loss on CoolCo Disposal (2)
(10,060)— — 
Net (loss)/income from discontinued operations(204,560)54,534 36,699 
(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 of $218.2 million cash consideration and 12.5 million shares of CoolCo valued at $127.1 million (based on the respective share price on the phased completion dates).
The following table contains the financial statement line-items forming the assets and liabilities classified as held for sale:
(in thousands of $)20222021
ASSETS
Current assets
Cash and cash equivalents369 34,173 
Restricted cash and short-term deposits— 43,311 
Trade accounts receivable16 767 
Other current assets29 1,965 
Total current assets held for sale414 80,216 
Non-current assets
Restricted cash— 780 
Vessels and equipment, net51 1,383,760 
Other non-current assets151 697 
Total non-current assets held for sale202 1,385,237 
Total assets held for sale616 1,465,453 
LIABILITIES
Current liabilities
Current portion of long-term debt and short-term debt— (338,501)
Trade accounts payables(3)(7,272)
Accrued expenses(180)(59,246)
Other current liabilities(76)(11,640)
Total current liabilities held for sale(259)(416,659)
Non-current liabilities
Long-term debt— (292,322)
Other non-current liabilities(114)(11,978)
Total non-current liabilities held for sale(114)(304,300)
Total liabilities held for sale(373)(720,959)
The following table contains the financial statement line-items presented as discontinued operations following TundraCo's Disposal:
Year ended December 31,
(in thousands of $)202220212020
Time and voyage charter revenues27,776 29,534 12,509 
Vessel operating expenses(5,119)(6,511)(5,274)
Voyage, charterhire and commission expenses(10,004)(9,396)138 
Administrative expenses(16)(89)(163)
Depreciation and amortization(2,955)(7,092)(7,546)
Operating income/(loss)9,682 6,446 (336)
Interest income— 4 27 
Interest expense(4,649)(2,589)(3,219)
Other financial items, net(153)(1,055)(94)
Pretax income/(loss) from discontinued operations4,880 2,806 (3,622)
Income taxes— — — 
Income/(loss) from discontinued operations4,880 2,806 (3,622)
Gain on disposal of discontinued operations (1)
123,230 — — 
Net income/(loss) from discontinued operations128,110 2,806 (3,622)
(1) Gain on TundraCo Disposal comprised of (i) cash proceeds received of $352.5 million, (ii) a partially offset by the net asset value of Golar LNG NB 13 Corporation of $229.0 million and (iii) related fees incurred in relation to disposal of $0.3 million.

The following table contains the financial statement line-items forming the assets and liabilities classified as held for sale:
(in thousands of $)20222021
ASSETS
Current assets
Cash and cash equivalents— 2,605 
Trade accounts receivable— 70 
Other current assets105 153 
Total current assets held for sale105 2,828 
Non-current assets
Vessels and equipment, net— 229,495 
Total non-current assets held for sale— 229,495 
Total assets held for sale105 232,323 
(in thousands of $)20222021
LIABILITIES
Current liabilities
Current portion of long-term debt and short-term debt— (9,911)
Trade accounts payables— (204)
Accrued expenses— (737)
Other current liabilities— (2,325)
Total current liabilities held for sale— (13,177)
Non-current liabilities
Long-term debt— (145,768)
Total non-current liabilities held for sale— (145,768)
Total liabilities held for sale— (158,945)
The net income/(loss) of equity method investments from discontinued operations for the period ended April 15, 2021 and the year ended December 31, 2020 is as follows:
Period January 1, 2021 to April 15, 2021Year ended December 31,
(in thousands of $)20212020
Net income/(loss) from equity method investments in Golar Partners8,116 (136,832)
Net loss from equity method investments in Hygo(15,008)(39,157)
Loss from discontinued operations(6,892)(175,989)
Gain on disposal of equity method investments (1)
574,939 — 
Net income/(loss) from discontinued operations568,047 (175,989)
(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 $2.0 million; (iii) a partial offset by the carrying values of our investment in affiliates disposed of $257.3 million as of April 15, 2021; (iv) realized accumulated comprehensive losses on disposal of investment in affiliates of $43.4 million; and (v) fees incurred in relation to disposals of $2.7 million.

The summarized financial information of Golar Partners and Hygo shown on a 100% basis are as follows:
(in thousands of $)April 15, 2021December 31, 2020
Golar PartnersHygoGolar PartnersHygo
Balance Sheet
Current assets85,738 97,509 146,821 109,596 
Non-current assets1,742,835 949,265 1,880,840 917,976 
Current liabilities(1,152,473)(144,146)(832,277)(97,245)
Non-current liabilities(17,965)(461,291)(570,063)(453,278)
Non-controlling interests(82,339)(15,250)82,112 13,557 
(in thousands of $)April 15, 2021December 31, 2020
Golar PartnersHygoGolar PartnersHygo
Statement of Operations
Revenue78,389 13,749 284,734 47,295 
Net income/(loss) (1)
28,952 (110,735)18,077 (61,859)
(1) Net loss for Hygo for the period ended April 15, 2021 includes the management incentive scheme (“MIS”) of $83.7 million which is not reflected in our share of net losses of Hygo as the MIS was reimbursed by Stonepeak.