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DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Components of long-term debt (including related parties)

(in thousands of $)			2022			2021
Total debt, net of deferred finance charges			(1,189,324)			(1,623,300)
Less: Current portion of long-term debt and short-term debt			344,778			703,170
Long-term debt			(844,546)			(920,130)

Future repayments of outstanding debt (including related parties)

The outstanding debt, gross of deferred finance charges, as of December 31, 2022 is repayable as follows:

Year ending December 31			Golar debt			VIE debt (1)			Total debt
(in thousands of $)
2023			(7,294)			(337,666)			(344,960)
2024			(43,756)			(60,600)			(104,356)
2025			(217,363)			(60,600)			(277,963)
2026			(58,333)			(35,500)			(93,833)
2027			(58,333)			—			(58,333)
2028 and thereafter			(330,834)			—			(330,834)
Total			(715,913)			(494,366)			(1,210,279)
Deferred finance charges			20,699			256			20,955
Total debt net of deferred finance charges			(695,214)			(494,110)			(1,189,324)

(1) These amounts relate to a certain lessor entity (for which legal ownership resides with a financial institution) that we are required to consolidate into our financial statements as a VIE (note 5).

Components of debt

At December 31, 2022 and 2021, our debt was as follows:

(in thousands of $)			2022			2021			Maturity date
Gimi facility			(535,000)			(410,000)			March 2030
Unsecured Bonds			(159,029)			(299,403)			October 2025
Golar Arctic facility			(21,884)			(29,178)			October 2024
2017 Convertible bonds			—			(315,646)
Subtotal (excluding lessor VIE debt)			(715,913)			(1,054,227)
CSSC VIE debt - FLNG Hilli facility			(494,366)			(597,280)			Repayable on demand/2026
Total debt (gross)			(1,210,279)			(1,651,507)
Less: Deferred finance charges			20,955			28,207
Total debt, net of deferred financing costs			(1,189,324)			(1,623,300)

Schedule of lessor VIE debt

The following loan relates to our lessor VIE entity, the CSSC entity that we consolidate as a VIE. Although we have no control over the funding arrangement of this entity, we consider ourselves the primary beneficiary of this VIE and therefore are required to consolidate this loan facility into our financial results (note 5).

Facility

Effective from

SPV

Loan counterparty

Loan facility at inception (in $ millions)

Loan facility at December 31, 2022(in $ millions)

Loan duration/maturity

Interest

Hilli (1)

June 2018

Fortune Lianjing Shipping S.A.

CSSC entity

(840.0)

(217.3)

8 years non-recourse

LIBOR plus margin

(120.0)

(277.1)

Repayable on demand

Nil

(1) In July 2019, the SPV, Fortune Lianjiang Shipping S.A., repaid $150.0 million to the interest-bearing facility and subsequently drew down $150.0 million from an internal loan with the CSSC entity. In March, 2020, the SPV, Fortune Lianjiang Shipping S.A., repaid $215.2 million to the interest-bearing facility and subsequently drew down $223.0 million from the internal loan with the CSSC entity.

The vessel in the table above is secured as collateral against these long-term loans (note 29).

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