XML 58 R51.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Risk management and financial instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Notional Amount, Fixed Interest Rate Payable | Below is a summary of the notional amount, fixed interest rate payable and duration of the outstanding principal as at June 30, 2018.
Variable interest entity |  | Outstanding principal as at June 30, 2018 (In $ millions) |  |  | Receive rate |  |  | Pay rates |  |  | Length of contracts |
SFL Linus Limited (West Linus) |  |  | 141 |  |  |  | 1—3 month LIBOR |  |  |  | 1.77—2.01 | % |  |  | Dec 2013—Dec 2018 |
Realized and Unrealized Gains and Losses | The total realized and unrealized gains and losses recognized in the Consolidated Statement of Operations relating to above derivative arrangements for the six months ended June 30, 2018 and 2017 are as follows:
(In $ millions) |  | Six Months Ended June 30, |
(Losses)/Gains recognized in the consolidated statement of operations relating to derivative financial instruments |  |  | 2018 |  |  |  | 2017 |
Interest rate swap agreements not qualified as hedge accounting |  |  | (1 | ) |  |  | (18 | )
Cross currency interest rate swaps not qualified as hedge accounting |  |  | — |  |  |  | 29 |
Foreign currency spot trades not qualified as hedge accounting |  |  | — |  |  |  | 1 |
Convertible loan agreement |  |  | 4 |  |  |  | (5 | )
Interest rate cap |  |  | (7 | ) |  |  | — |
(Loss)/Gain on derivative financial instruments |  |  | (4 | ) |  |  | 7 |
Carrying Value and Estimated at Fair Value of Financial Instruments | The carrying value and estimated fair value of our financial instruments as at June 30, 2018 and December 31, 2017 were as follows Financial assets
|  | As at June 30, 2018 |  |  | As at December 31, 2017 |
(In $ millions) |  | Fair value |  |  | Carrying value |  |  | Fair value |  |  | Carrying value |
Cash and cash equivalents |  |  | 809 |  |  |  | 809 |  |  |  | 1,255 |  |  |  | 1,255 |
Restricted cash |  |  | 409 |  |  |  | 409 |  |  |  | 104 |  |  |  | 104 |
Derivative Asset—interest rate cap |  |  | 61 |  |  |  | 61 |  |  |  | — |  |  |  | — |
Related party loans receivable—short term |  |  | 18 |  |  |  | 18 |  |  |  | 25 |  |  |  | 25 |
Related party loans receivable—long term |  |  | 547 |  |  |  | 535 |  |  |  | 522 |  |  |  | 515 |
Financial Instruments Measured at Fair Value on a Recurring Basis | Financial assets that are measured at fair value on a recurring basis:
|  |  |  |  | Fair value measurements as at the reporting date using |
(In $ millions) |  | Total fair value As at June 30, 2018 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities - current asset |  |  | 121 |  |  |  | 121 |  |  |  | — |  |  |  | — |
Interest rate cap – current asset |  |  | 61 |  |  |  | — |  |  |  | 61 |  |  |  | — |
Convertible debt instruments - non-current asset |  |  | 58 |  |  |  | — |  |  |  | — |  |  |  | 58 |
Total assets |  |  | 240 |  |  |  | 121 |  |  |  | 61 |  |  |  | 58 |
|  |  |  |  | Fair value measurements as at the reporting date using |
(In $ millions) |  | Total fair value As at December 31, 2017 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities - current asset |  |  | 124 |  |  |  | 124 |  |  |  | — |  |  |  | — |
Convertible debt instrument - non-current asset |  |  | 52 |  |  |  | — |  |  |  | — |  |  |  | 52 |
Total assets |  |  | 176 |  |  |  | 124 |  |  |  | — |  |  |  | 52 |
Reconciliation of Convertible Debt Instrument Classified Within Level 3 | The following table is a reconciliation of the convertible debt instrument classified within Level 3 of the valuation hierarchy for the periods indicated:
(In $ millions) |  | Total fair value (Level 3) |
As at December 31, 2017 |  |  | 52 |
Change in fair valued recognized in the Statement of Operations |  |  | 4 |
Change in fair value recognized in Other Comprehensive Income |  |  | 2 |
As at June 30, 2018 |  |  | 58 |

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

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of financial instruments classified in shareholders' equity using significant unobservable inputs (level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of level 3 (for example, transfers due to changes in the observability of significant inputs) by class of equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInstrumentsClassifiedInShareholdersEquityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration