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INVESTMENT IN ASSOCIATED COMPANIES (Tables) | 6 Months Ended
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Jun. 30, 2014
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract] |
Percentage participation using the equity method of accounting | At June 30, 2014, June 30, 2013 and December 31, 2013, the Company has the following participation in investments that are recorded using the equity method:
| June 30, 2014 |  |  | June 30, 2013 |  |  | December 31, 2013 |
SFL West Polaris Limited (“SFL West Polaris”) | 100.00 | % |  | 100.00 | % |  | 100.00 | %
SFL Deepwater Ltd (“SFL Deepwater”) | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Bluelot Shipping Company Limited (“Bluelot”) | — |  |  | 100.00 | % |  | 100.00 | %
SFL Corte Real Limited (“Corte Real”) | — |  |  | 100.00 | % |  | 100.00 | %
SFL Hercules Ltd ("SFL Hercules") | 100.00 | % |  | 100.00 | % |  | 100.00 | %
SFL Linus Ltd ("SFL Linus") | 100.00 | % |  | 100.00 | % |  | 100.00 | %
Summarized financial statement information of equity method investees | Summarized balance sheet information of the Company’s equity method investees is as follows:
| As of June 30, 2014 |  |  |  |
(in thousands of $) | TOTAL |  |  | Bluelot |  |  | Corte Real |  |  | SFL West Polaris |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Current assets | 206,247 |  |  | — |  |  | — |  |  | 33,298 |  |  | 74,020 |  |  | 45,939 |  |  | 52,990 |
Non-current assets | 1,821,527 |  |  | — |  |  | — |  |  | 442,708 |  |  | 411,647 |  |  | 414,065 |  |  | 553,107 |
Total assets | 2,027,774 |  |  | — |  |  | — |  |  | 476,006 |  |  | 485,667 |  |  | 460,004 |  |  | 606,097 |
Current liabilities | 215,193 |  |  | — |  |  | — |  |  | 38,583 |  |  | 85,065 |  |  | 37,282 |  |  | 54,263 |
Non-current liabilities | 1,771,619 |  |  | — |  |  | — |  |  | 432,169 |  |  | 372,421 |  |  | 415,000 |  |  | 552,029 |
Total Liabilities | 1,986,812 |  |  | — |  |  | — |  |  | 470,752 |  |  | 457,486 |  |  | 452,282 |  |  | 606,292 |
Total stockholders’ equity | 40,962 |  |  | — |  |  | — |  |  | 5,254 |  |  | 28,181 |  |  | 7,722 |  |  | (195 | )
| As of December 31, 2013 |  |  |  |
(in thousands of $) | TOTAL |  |  | Bluelot |  |  | Corte Real |  |  | SFL West Polaris |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Current assets | 205,916 |  |  | 9,780 |  |  | 9,857 |  |  | 34,412 |  |  | 94,981 |  |  | 56,886 |  |  | — |
Non-current assets | 1,516,033 |  |  | — |  |  | — |  |  | 458,558 |  |  | 432,755 |  |  | 429,720 |  |  | 195,000 |
Total assets | 1,721,949 |  |  | 9,780 |  |  | 9,857 |  |  | 492,970 |  |  | 527,736 |  |  | 486,606 |  |  | 195,000 |
Current liabilities | 159,847 |  |  | 3,523 |  |  | 3,646 |  |  | 38,337 |  |  | 85,240 |  |  | 29,101 |  |  | — |
Non-current liabilities | 1,521,115 |  |  | — |  |  | — |  |  | 451,384 |  |  | 418,554 |  |  | 453,860 |  |  | 197,317 |
Total Liabilities | 1,680,962 |  |  | 3,523 |  |  | 3,646 |  |  | 489,721 |  |  | 503,794 |  |  | 482,961 |  |  | 197,317 |
Total stockholders’ equity | 40,987 |  |  | 6,257 |  |  | 6,211 |  |  | 3,249 |  |  | 23,942 |  |  | 3,645 |  |  | (2,317 | )
Summarized statement of operations information of the Company’s equity method investees is as follows:
| Six months ended June 30, 2014 |  |  |  |
(in thousands of $) | TOTAL |  |  | Bluelot |  |  | Corte Real |  |  | SFL West Polaris |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 52,653 |  |  | 1,171 |  |  | 2,492 |  |  | 11,151 |  |  | 12,936 |  |  | 12,686 |  |  | 12,217 |
Net operating revenues | 49,601 |  |  | 232 |  |  | 431 |  |  | 11,136 |  |  | 12,924 |  |  | 12,672 |  |  | 12,206 |
Net income/ (loss) | 14,019 |  |  | 232 |  |  | 431 |  |  | 2,005 |  |  | 4,239 |  |  | 4,077 |  |  | 3,035 |
| Six months ended June 30, 2013 |  |  |  |
(in thousands of $) | TOTAL |  |  | Bluelot |  |  | Corte Real |  |  | SFL West Polaris |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 64,339 |  |  | 9,858 |  |  | 9,883 |  |  | 12,168 |  |  | 31,804 |  |  | 626 |  |  | — |
Net operating revenues | 46,803 |  |  | 1,112 |  |  | 1,112 |  |  | 12,150 |  |  | 31,804 |  |  | 625 |  |  | — |
Net income | 15,530 |  |  | 1,112 |  |  | 1,112 |  |  | 1,163 |  |  | 12,381 |  |  | (238 | ) |  | — |
| Year ended December 31, 2013 |  |  |  |
(in thousands of $) | TOTAL |  |  | Bluelot |  |  | Corte Real |  |  | SFL West Polaris |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 122,792 |  |  | 19,490 |  |  | 19,624 |  |  | 23,701 |  |  | 46,145 |  |  | 13,832 |  |  | — |
Net operating revenues | 88,121 |  |  | 2,261 |  |  | 2,262 |  |  | 23,681 |  |  | 46,109 |  |  | 13,808 |  |  | — |
Net income | 28,200 |  |  | 2,261 |  |  | 2,261 |  |  | 2,324 |  |  | 17,747 |  |  | 3,645 |  |  | (38 | )

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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