XML 41 R34.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Reporting [Abstract] |
Reconciliation of net profit / (loss) to adjusted EBITDA | A reconciliation of net income to Adjusted EBITDA for the six months ended June 30, 2024 and 2023 is as follows:
(in thousands of $) | 2024 | 2023
Net income/(loss) | 101,725 |  | (85,659) |
Income taxes | 278 |  | 1,697 |
Income/(loss) before income taxes | 102,003 |  | (83,962) |
Depreciation and amortization | 26,256 |  | 25,027 |
Impairment of long-lived assets | — |  | 5,021 |
Unrealized loss on oil and gas derivative instruments (note 7) | 13,902 |  | 191,657 |
Realized and unrealized mark-to-market losses on investment in listed equity securities (note 8) | — |  | 62,308 |
Other non-operating income, net (note 8) | — |  | (9,823) |
Interest income | (18,582) |  | (23,318) |
Interest expense | — |  | 972 |
Gains on derivative instruments, net (note 9) | (6,309) |  | (2,297) |
Other financial items, net (note 9) | 2,694 |  | 1,375 |
Net losses from equity method investments (note 15) | 2,339 |  | 296 |
Net income from discontinued operations | — |  | (293) |
Adjusted EBITDA | 122,303 |  | 166,963 |
Segment reporting Information |
| Six months ended June 30, 2024
(in thousands of $) | FLNG | Corporate and other (1) | Shipping | Total results from continuing operations
Statement of Operations: |  |  |  |
Total operating revenues | 112,488 |  | 10,830 |  | 6,330 |  | 129,648 |
Vessel operating expenses | (41,549) |  | (10,193) |  | (5,394) |  | (57,136) |
Voyage, charterhire and commission expenses, net | — |  | (33) |  | (3,448) |  | (3,481) |
Administrative expenses | (437) |  | (12,472) |  | (18) |  | (12,927) |
Project development expenses | (2,385) |  | (1,952) |  | (1) |  | (4,338) |
Realized gain on oil and gas derivative instruments, net (note 7) | 70,537 |  | — |  | — |  | 70,537 |
Adjusted EBITDA | 138,654 |  | (13,820) |  | (2,531) |  | 122,303 |
Net losses from equity method investments (note 15) | — |  | (2,339) |  | — |  | (2,339) |
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet: | June 30, 2024
(in thousands of $) | FLNG | Corporate and other | Shipping |  |  | Total assets
Total assets (1) | 3,320,004 |  | 669,869 |  | 131,145 |  |  |  | 4,121,018 |
Equity method investments (note 15) | — |  | 50,153 |  | — |  |  |  | 50,153 |
(1) In March 2024, we acquired the Fuji LNG, the donor vessel for Mark II FLNG (“Mark II”) for $77.5 million and consequently reclassified the deposit of $15.5 million from “Other non-current assets” (note 16) to “Vessels and equipment, net”. The Fuji LNG is currently presented under the Shipping segment as she is currently trading as an LNG carrier.
| Six months ended June 30, 2023
(in thousands of $) | FLNG | Corporate and other (1) | Shipping | Total results from continuing operations
Statement of Operations: |  |  |  |
Total operating revenues | 116,594 |  | 24,044 |  | 10,860 |  | 151,498 |
Vessel operating expenses | (31,512) |  | (9,670) |  | (2,100) |  | (43,282) |
Voyage, charterhire and commission expenses, net | (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 income (note 5) | 2,499 |  | 7,817 |  | — |  | 10,316 |
Adjusted EBITDA | 188,855 |  | (30,520) |  | 8,628 |  | 166,963 |
Net (loss)/income from equity method investments (note 15) | — |  | (2,610) |  | 2,314 |  | (296) |
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments.
Balance Sheet: | December 31, 2023
(in thousands of $) | FLNG | Corporate and other | Shipping |  |  | Total assets
Total assets | 3,160,457 |  | 866,088 |  | 57,442 |  |  |  | 4,083,987 |
Equity method investments (note 15) | — |  | 53,982 |  | — |  |  |  | 53,982 |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration