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Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment information SEGMENT INFORMATION
We operate three distinct reportable segments as follows:
•FLNG – This segment includes our operations 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 FLNG Hilli, and one completing conversion and commencing commissioning into a FLNG, the Gimi (note 15).
•Corporate and other – This segment includes our vessel management, FSRU services for third parties, administrative services to former affiliates and third parties and our corporate overhead costs.
•Shipping – This segment includes our operations of the transportation of LNG carriers.

A reconciliation of net (loss)/income to Adjusted EBITDA for the six months ended June 30, 2023 and 2022 is as follows:
(in thousands of $)20232022
Net (loss)/income(85,659)696,552 
Income taxes
1,697 148 
(Loss)/income before income taxes(83,962)696,700 
Depreciation and amortization25,027 26,847 
Impairment of long-lived assets (1)
5,021 76,155 
Unrealized loss/(gain) on oil and gas derivative instruments (note 7)
191,657 (349,607)
Realized and unrealized mark-to-market losses/(gains) on investment in listed equity securities (note 8)62,308 (295,048)
Other non-operating income, net (note 8)(9,823)(10,023)
Interest income(23,318)(954)
Interest expense972 11,435 
Gains on derivative instruments, net (note 9)(2,297)(47,877)
Other financial items, net (note 9)1,375 3,584 
Net losses/(income) from equity method investments (note 16)
296 (3,009)
Net (income)/loss from discontinued operations (note 11)
(293)82,372 
Adjusted EBITDA166,963 190,575 
(1) In May 2023, we entered into an Agreement for the sale and recycling of the Gandria (“Gandria SPA”) with Last Voyage, DMCC (the “Buyer”) for net consideration of $15.2 million, of which $2.3 million was received in advance in May 2023 (note 19). The Buyer agreed to purchase the Gandria (including vessel and onboard equipment) for demolition and recycling which will take place at a ship recycling facility in India. The Gandria SPA is expected to be completed on or before October 31, 2023. In late May 2023, the held for sale presentation criteria was met, and we reclassified the Gandria, previously in our FLNG segment as held-for-sale and remeasured the vessel and onboard equipment to lower of her carrying value and fair value less estimated costs to sell, recognizing an impairment charge of $5.0 million.
In May 2022, entry into a sale and purchase agreement (the “Arctic SPA”) with SNAM RETE Gas S.p.A (part of “Snam”) changed 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. The revised future estimated cash flows were less than her carrying amount on June 30, 2022 and 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).
Six months ended June 30, 2023
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues116,594 24,044 10,860 151,498 
Vessel operating expenses
(31,512)(9,670)(2,100)(43,282)
Voyage, charterhire and commission expenses
(300)(19)(141)(460)
Administrative (expenses)/income
(92)(17,979)9 (18,062)
Project development expenses
(2,237)(34,713)— (36,950)
Realized gain on oil and gas derivative instruments, net (note 7)
103,903 — — 103,903 
Other operating income2,499 7,817 — 10,316 
Adjusted EBITDA188,855 (30,520)8,628 166,963 
Net (losses)/income from equity method investments (note 16)— (2,610)2,314 (296)
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.

Balance Sheet:June 30, 2023
(in thousands of $)FLNGCorporate and otherShippingSegment assets from continuing operationsAssets held for saleTotal assets
Total assets2,829,840 1,039,627 46,337 3,915,804 14,979 3,930,783 
Equity method investments (note 16)— 46,244 — 46,244 — 46,244 

Six months ended June 30, 2022
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues123,421 13,509 3,235 140,165 
Vessel operating expenses
(29,153)(3,228)(3,819)(36,200)
Voyage, charterhire and commission expenses
(300)(50)(1,109)(1,459)
Administrative (expenses)/income
(29)(20,176)69 (20,136)
Project development (expenses)/income
(5,002)1,451 — (3,551)
Realized gain on oil and gas derivative instruments, net (note 7)
97,650 — — 97,650 
Other operating income14,106 — — 14,106 
Adjusted EBITDA200,693 (8,494)(1,624)190,575 
Net income from equity method
investments (note 17)		— 3,009 — 3,009 
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet:December 31, 2022
(in thousands of $)FLNGCorporate and otherShippingSegment assets from continuing operationsAssets held for saleTotal assets
Total assets2,815,552 1,410,587 52,700 4,278,839 721 4,279,560 
Equity method investments (note 16)— 48,669 55,439 104,108 — 104,108