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INVESTMENTS IN DIRECT FINANCING AND SALES-TYPE LEASES (Tables)

6 Months Ended

Jun. 30, 2014

Net Investment in Direct Financing and Sales Type Leases [Abstract]

Components of the investments in direct financing and sales-type leases

The following lists the components of the investments in direct financing leases as at June 30, 2014.

(in thousands of $)	June 30, 2014			December 31, 2013
Total minimum lease payments to be received	1,420,226			1,490,111
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(408,932	)		(432,463	)
Net minimum lease payments receivable	1,011,294			1,057,648
Estimated residual values of leased property (un-guaranteed)	278,152			278,152
Less: unearned income	(295,057	)		(318,910	)
	994,389			1,016,890
Less: deferred deemed equity contribution	(104,057	)		(106,377	)
Less: unamortized gains	(6,923	)		(7,105	)
Total investment in direct financing and sales-type leases	883,409			903,408
Current portion	44,978			45,148
Long-term portion	838,431			858,260
	883,409			903,408

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- Definition

Tabular disclosure of the components of the lessor's assets under sales-type and direct financing leases as of the balance sheet date consisting of: (a) minimum lease payments due on direct financing leases, (b) unguaranteed residual value, and (c) any unamortized initial direct costs on direct financing leases; less: (i) estimated executory costs, (ii) unearned income, and (iii) the accumulated allowance for uncollectible minimum lease payments.

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