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INVESTMENTS IN DIRECT FINANCING LEASES (Tables)

6 Months Ended

Jun. 30, 2016

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, 2016.

(in thousands of $)	June 30, 2016			December 31, 2015
Total minimum lease payments to be received	747,714			825,460
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments	(340,027	)		(362,959	)
Net minimum lease payments receivable	407,687			462,501
Estimated residual values of leased property (un-guaranteed)	193,299			195,238
Less: unearned income	(126,442	)		(146,296	)
Total investment in direct financing and sales-type leases	474,544			511,443
Current portion	31,634			37,145
Long-term portion	442,910			474,298
	474,544			511,443

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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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