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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment information SEGMENT INFORMATION
We provide three distinct services and operate in the following three reportable segments: “FLNG”, “Corporate and other” and “Shipping” and our key performance indicator is 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 $)20242023
Net income/(loss)
101,725 (85,659)
Income taxes
278 1,697 
Income/(loss) before income taxes
102,003 (83,962)
Depreciation and amortization26,256 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 EBITDA122,303 166,963 

Our three distinct reportable segments are as follows:
•FLNG – This segment includes the operations of our FLNG vessels or projects. We convert LNG carriers into FLNG vessels or build new FLNG vessels and subsequently contract them to third parties. We currently have one operational FLNG, the FLNG Hilli, and one FLNG moored at the GTA field offshore Mauritania and Senegal, the FLNG Gimi, which is awaiting connection to upstream infrastructure (note 14).
•Corporate and other – This segment includes our vessel management, floating storage and regasification unit (“FSRU”) services for third parties, administrative services to affiliates and third parties, our corporate overhead costs and other strategic investments.
•Shipping – This segment includes the transportation operations of our LNG carriers.

Six months ended June 30, 2024
(in thousands of $)FLNG
Corporate and other (1)
ShippingTotal results from continuing operations
Statement of Operations:
Total operating revenues112,488 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 EBITDA138,654 (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 $)FLNGCorporate and otherShippingTotal 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)
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, 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 EBITDA188,855 (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 $)FLNGCorporate and otherShippingTotal assets
Total assets3,160,457 866,088 57,442 4,083,987 
Equity method investments (note 15)
— 53,982 — 53,982