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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Reconciliation of net income to adjusted EBITDA | A reconciliation of net income to Adjusted EBITDA for the nine months ended September 30, 2025 and 2024 is as follows:
(in thousands of $) | 2025 | 2024
Net income | 89,428 |  | 65,756 |
Income tax expense | 2,406 |  | 486 |
Income before income tax | 91,834 |  | 66,242 |
Depreciation and amortization | 37,052 |  | 39,884 |
Unrealized loss on oil and gas derivative instruments (note 7) | 72,549 |  | 87,593 |
Other non-operating income (note 5) | (29,981) |  | — |
Interest income | (23,651) |  | (27,484) |
Interest expense | 9,289 |  | — |
Losses on derivative instruments, net (note 8) | 10,091 |  | 8,646 |
Other financial items, net (note 8) | 4,166 |  | 3,164 |
Net (income)/losses from equity method investments (note 13) | (9,960) |  | 3,287 |
Sales-type lease receivable in excess of interest income (7) | 12,222 |  | — |
Adjusted EBITDA | 173,611 |  | 181,332 |
Segment reporting Information |
| Nine months ended September 30, 2025 |  |
(in thousands of $) | FLNG | Corporate and other (1) |  | Total Segment Reporting | Elimination (7) | Consolidated Reporting
Statement of Operations: |  |  |  |  |  |
Liquefaction services revenue | 168,171 |  | — |  |  | 168,171 |  | — |  | 168,171 |
Sales-type lease revenue | 46,925 |  | — |  |  | 46,925 |  | — |  | 46,925 |
Vessel management fees and other revenues | 25,144 |  | 19,594 |  |  | 44,738 |  | — |  | 44,738 |
Time and voyage charter revenues | — |  | 876 |  |  | 876 |  | — |  | 876 |
Total operating revenues (note 5) | 240,240 |  | 20,470 |  |  | 260,710 |  | — |  | 260,710 |
Vessel operating expenses (2) | (85,707) |  | (22,076) |  |  | (107,783) |  | — |  | (107,783) |
Administrative expenses (3) | (939) |  | (23,396) |  |  | (24,335) |  | — |  | (24,335) |
Project development expenses (4) | (13,071) |  | (3,140) |  |  | (16,211) |  | — |  | (16,211) |
Realized gain on oil and gas derivative instruments, net (note 7) | 51,034 |  | — |  |  | 51,034 |  | — |  | 51,034 |
Other operating loss (5) (6) | — |  | (2,026) |  |  | (2,026) |  | — |  | (2,026) |
Sales-type lease receivable in excess of interest income (7) | 12,222 |  | — |  |  | 12,222 |  | (12,222) |  | — |
Adjusted EBITDA | 203,779 |  | (30,168) |  |  | 173,611 |  | (12,222) |  | 161,389 |
Net income/(loss) from equity method investments (note 13) | (363) |  | 10,323 |  |  | 9,960 |  | — |  | 9,960 |
Balance Sheet: | September 30, 2025
(in thousands of $) | FLNG | Corporate and other (1) |  |  |  | Total assets
Total assets | 4,127,021 |  | 548,464 |  |  |  |  | 4,675,485 |
Equity method investments (note 13) | 18,908 |  | 16,018 |  |  |  |  | 34,926 |
| Nine months ended September 30, 2024
(in thousands of $) | FLNG | Corporate and other (1) | Total
Statement of Operations: |  |  |
Liquefaction services revenue | 168,563 |  | — |  | 168,563 |
Vessel management fees and other revenues | — |  | 17,042 |  | 17,042 |
Time and voyage charter revenues | — |  | 8,850 |  | 8,850 |
Total operating revenues (note 5) | 168,563 |  | 25,892 |  | 194,455 |
Vessel operating expenses (2) | (62,496) |  | (30,732) |  | (93,228) |
Administrative expenses (3) | (1,005) |  | (18,995) |  | (20,000) |
Project development expenses (4) | (3,634) |  | (3,847) |  | (7,481) |
Realized gain on oil and gas derivative instruments, net (note 7) | 107,586 |  | — |  | 107,586 |
Adjusted EBITDA | 209,014 |  | (27,682) |  | 181,332 |
Net loss from equity method investments (note 13) | — |  | (3,287) |  | (3,287) |
Balance Sheet: | December 31, 2024
(in thousands of $) | FLNG | Corporate and other (1) |  |  |  | Total assets
Total assets | 3,623,417 |  | 744,260 |  |  |  |  | 4,367,677 |
Equity method investments (note 13) | — |  | 43,665 |  |  |  |  | 43,665 |
(1) Includes inter-segment eliminations arising from vessel and administrative management fees revenue between segments. (2) Includes crew, repairs and maintenance, spares, stores and consumables and insurance costs. (3) Includes employee compensation and benefits, audit and accounting fees, legal fees and other corporate costs, which are managed centrally under our “Corporate and other” segment. (4) Includes costs incurred for early-stage development activities, feasibility studies, and business development efforts for projects not yet at FID stage. In 2025, we entered into Front-End Engineering Design (“FEED”) studies for the development of a Mark III FLNG unit and a Mark I three-train FLNG unit. (5) In the first quarter of 2025, we completed the sale of our remaining LNG carrier, the Golar Arctic including its unused fuel onboard for a net consideration of $24.8 million resulting in a loss on disposal of $0.5 million recognized in “Other Operating loss” in the unaudited consolidated statement of operations. (6) As of September 30, 2025, management evaluated the expected credit losses related to its shareholder loan to Higas Holdings Limited (“Higas”) (note 20). Based on our assessment of Higas’ financial condition and the continued uncertainty regarding Higas’ potential inclusion to Sardinia’s regulatory framework as of the reporting date, an allowance for credit losses of $1.5 million was recognized within “Other operating loss” in the unaudited consolidated statements of operations. (7) Amounts recognized as revenue is analogous to the interest income component earned, while the principal amortization is treated as a reduction to the lease receivable balance presented in “Net investment in sales-type lease” in the unaudited consolidated balance sheet. Represents the lease receivable principal amortization component of the total amounts invoiced under the FLNG Gimi sales-type lease which commenced in June 2025. We included the total invoiced amounts comprising both interest income and principal repayment in our FLNG Adjusted EBITDA to reflect the total cash earnings and economic performance of the FLNG Gimi (note 5.2). This amount is eliminated from the unaudited consolidated statements of operations in accordance with U.S. GAAP.

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- 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
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- 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
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