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ASSETS AND LIABILITIES HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023, 2022 and 2021 are as follows:
| Year Ended December 31, 2023
(in thousands of $) | CoolCo | TundraCo | Golar Partners and Hygo | Total
Income from discontinued operations | 266 |  | — |  | — |  | 266 |
Gain on disposal | 27 |  | — |  | — |  | 27 |
Net income from discontinued operations | 293 |  | — |  | — |  | 293 |
| Year Ended December 31, 2022
(in thousands of $) | CoolCo | TundraCo | Golar Partners and Hygo | Total
(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 $) | CoolCo | TundraCo | Golar Partners and Hygo | Total
Income/(loss) from discontinued operations | 54,534 |  | 2,806 |  | (6,892) |  | 50,448 |
Gain on disposal | — |  | — |  | 574,941 |  | 574,941 |
Net income from discontinued operations | 54,534 |  | 2,806 |  | 568,049 |  | 625,389 |
The following table contains the financial statement line-items presented as discontinued operations following the CoolCo Disposal:
| Period ended January 1, 2023 to May 1, 2023 | Year ended December 31,
(in thousands of $) | 2022 | 2021
Time and voyage charter revenues | — |  | 37,289 |  | 161,957 |
Vessel and other management fees | 262 |  | 1,815 |  | — |
Vessel operating expenses | — |  | (8,466) |  | (49,446) |
Voyage, charterhire and commission expenses | — |  | (1,229) |  | (709) |
Administrative expenses | 57 |  | 1,906 |  | 476 |
Project development expenses | — |  | (62) |  | (362) |
Depreciation and amortization | (20) |  | (5,807) |  | (43,497) |
Impairment of long-lived assets (1) | — |  | (218,349) |  | — |
Other operating income | — |  | 4,374 |  | 5,020 |
Operating income/(loss) | 299 |  | (188,529) |  | 73,439 |
Other non-operating losses | — |  | — |  | (124) |
Interest income | — |  | 4 |  | 7 |
Interest expense, net | — |  | (4,725) |  | (18,087) |
Other financial items, net | (18) |  | (799) |  | (401) |
Pretax income/(loss) from discontinued operations | 281 |  | (194,049) |  | 54,834 |
Income taxes | (15) |  | (451) |  | (300) |
Income/(loss) from discontinued operations | 266 |  | (194,500) |  | 54,534 |
Gain/(loss) on CoolCo Disposal (2) | 27 |  | (10,060) |  | — |
Net income/(loss) from discontinued operations | 293 |  | (204,560) |  | 54,534 |
(1) Impairment of long-lived 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) During the year ended December 31, 2022, we recognized a loss on the CoolCo Disposal of $10.1 million. This is 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 presented as discontinued operations following TundraCo's Disposal:
| Period ended January 1, 2022 to May 31, 2022 | Year Ended December 31, 2021
(in thousands of $) |  |
Time and voyage charter revenues | 27,776 |  | 29,534 |
Vessel operating expenses | (5,119) |  | (6,511) |
Voyage, charterhire and commission expenses | (10,004) |  | (9,396) |
Administrative expenses | (16) |  | (89) |
Depreciation and amortization | (2,955) |  | (7,092) |
Operating income | 9,682 |  | 6,446 |
Interest income | — |  | 4 |
Interest expense, net | (4,649) |  | (2,589) |
Other financial items, net | (153) |  | (1,055) |
Pretax income from discontinued operations | 4,880 |  | 2,806 |
Income taxes | — |  | — |
Income from discontinued operations | 4,880 |  | 2,806 |
Gain on disposal of discontinued operations (1) | 123,230 |  | — |
Net income from discontinued operations | 128,110 |  | 2,806 |
(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 net income/(loss) of equity method investments from discontinued operations for the period ended April 15, 2021 is as follows:
| Period January 1, 2021 to April 15, 2021
(in thousands of $) |
Net income from equity method investments in Golar Partners | 8,116 |
Net loss from equity method investments in Hygo | (15,008) |
Loss from discontinued operations | (6,892) |
Gain on disposal of equity method investments (1) | 574,941 |
Net income from discontinued operations | 568,049 |
(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.

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