XML 44 R34.htm IDEA: XBRL DOCUMENT
v3.19.2

INVESTMENT IN ASSOCIATED COMPANIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Debt Instrument [Line Items] |
Schedule of Debt [Table Text Block] |
(in thousands of $) | June 30, 2019 |  |  | December 31, 2018 |
Long-term debt: |  |  |
NOK900 million senior unsecured floating rate bonds due 2019 | — |  |  | 77,722 |
5.75% senior unsecured convertible bonds due 2021 | 212,230 |  |  | 212,230 |
NOK500 million senior unsecured floating rate bonds due 2020 | 58,582 |  |  | 57,829 |
4.875% senior unsecured convertible bonds due 2023 | 148,300 |  |  | 151,700 |
NOK600 million senior unsecured floating rate bonds due 2023 | 70,298 |  |  | 69,395 |
NOK700 million senior unsecured floating rate bonds due 2024 | 82,014 |  |  | — |
Total Fixed Rate and Foreign Debt | 571,424 |  |  | 568,876 |
U.S. dollar denominated floating rate debt (LIBOR plus margin) due through 2025 | 913,207 |  |  | 891,471 |
Total debt principal | 1,484,631 |  |  | 1,460,347 |
Less: Unamortized debt issuance costs | (21,939 | ) |  | (23,267 | )
Less: Current portion of long-term debt | (188,029 | ) |  | (267,149 | )
Total long-term debt | 1,274,663 |  |  | 1,169,931 |
(in thousands of $) |  |  |  |  |  |
|  |  | Fixed Rate and Foreign Debt |  |  | U.S. Dollar Floating Rate Debt |  |  | Total debt principal |
Balance at | December 31, 2018 |  | 568,876 |  |  | 891,471 |  |  | 1,460,347 |
Drawdowns |  | 79,862 |  |  | 137,476 |  |  | 217,338 |
Repayments and redemptions |  | (81,021 | ) |  | (115,740 | ) |  | (196,761 | )
Effects of foreign exchange |  | 3,707 |  |  | — |  |  | 3,707 |
Balance at | June 30, 2019 |  | 571,424 |  |  | 913,207 |  |  | 1,484,631 |
Percentage participation using the equity method of accounting | At June 30, 2019, June 30, 2018 and December 31, 2018, the Company had the following participation in investments that were recorded using the equity method:
| June 30, 2019 |  |  | June 30, 2018 |  |  | December 31, 2018 |
SFL Deepwater Ltd (“SFL Deepwater”) | 100 | % |  | 100 | % |  | 100 | %
SFL Hercules Ltd (“SFL Hercules”) | 100 | % |  | 100 | % |  | 100 | %
SFL Linus Ltd (“SFL Linus”) | 100 | % |  | 100 | % |  | 100 | %
Summarized financial statement information of equity method investees | Summarized balance sheet information of the Company’s wholly-owned equity method investees is as follows:
| As of June 30, 2019
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Current assets | 60,007 |  |  | 24,028 |  |  | 18,848 |  |  | 17,131 |
Non-current assets | 944,994 |  |  | 294,563 |  |  | 282,125 |  |  | 368,306 |
Total assets | 1,005,001 |  |  | 318,591 |  |  | 300,973 |  |  | 385,437 |
Current liabilities | 60,345 |  |  | 18,019 |  |  | 19,088 |  |  | 23,238 |
Non-current liabilities | 910,558 |  |  | 291,692 |  |  | 273,846 |  |  | 345,020 |
Total liabilities | 970,903 |  |  | 309,711 |  |  | 292,934 |  |  | 368,258 |
Total stockholders’ equity | 34,098 |  |  | 8,880 |  |  | 8,039 |  |  | 17,179 |
| As of December 31, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Current assets | 58,089 |  |  | 19,558 |  |  | 16,858 |  |  | 21,673 |
Non-current assets | 967,954 |  |  | 302,362 |  |  | 290,370 |  |  | 375,222 |
Total assets | 1,026,043 |  |  | 321,920 |  |  | 307,228 |  |  | 396,895 |
Current liabilities | 69,181 |  |  | 18,252 |  |  | 19,487 |  |  | 31,442 |
Non-current liabilities | 931,755 |  |  | 297,060 |  |  | 281,627 |  |  | 353,068 |
Total liabilities | 1,000,936 |  |  | 315,312 |  |  | 301,114 |  |  | 384,510 |
Total stockholders’ equity | 25,107 |  |  | 6,608 |  |  | 6,114 |  |  | 12,385 |
Summarized statement of operations information of the Company’s wholly-owned equity method investees is as follows:
| Six months ended June 30, 2019
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 33,289 |  |  | 9,817 |  |  | 9,536 |  |  | 13,936 |
Net operating revenues | 33,289 |  |  | 9,817 |  |  | 9,536 |  |  | 13,936 |
Net income | 8,991 |  |  | 2,272 |  |  | 1,925 |  |  | 4,794 |
| Six months ended June 30, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 32,271 |  |  | 9,651 |  |  | 9,552 |  |  | 13,068 |
Net operating revenues | 32,271 |  |  | 9,651 |  |  | 9,552 |  |  | 13,068 |
Net income | 7,451 |  |  | 1,964 |  |  | 1,821 |  |  | 3,666 |
| Year ended December 31, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Operating revenues | 64,572 |  |  | 19,594 |  |  | 19,126 |  |  | 25,852 |
Net operating revenues | 64,410 |  |  | 19,540 |  |  | 19,049 |  |  | 25,821 |
Net income | 14,635 |  |  | 3,973 |  |  | 3,372 |  |  | 7,290 |
Dividends Declared [Table Text Block] |
| Six months ended June 30, 2019
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Dividends Paid | — |  |  | — |  |  | — |  |  | — |
| Six months ended June 30, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Dividends Paid | — |  |  | — |  |  | — |  |  | — |
| Year ended December 31, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Dividends Paid | — |  |  | — |  |  | — |  |  | — |
Equity Accounted Subsidiaries [Member] |
Debt Instrument [Line Items] |
Schedule of Debt [Table Text Block] |
| Six months ended June 30, 2019
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Loan balance outstanding | 645,918 |  |  | 195,801 |  |  | 210,000 |  |  | 240,117 |
Amount available to draw down | — |  |  | — |  |  | — |  |  | — |
Amount guaranteed by SFL | 266,114 |  |  | 84,697 |  |  | 78,947 |  |  | 102,470 |
| Year ended December 31, 2018
(in thousands of $) | TOTAL |  |  | SFL Deepwater |  |  | SFL Hercules |  |  | SFL Linus |
Loan balance outstanding | 655,186 |  |  | 203,686 |  |  | 210,000 |  |  | 241,500 |
Amount available to draw down | — |  |  | — |  |  | — |  |  | — |
Amount guaranteed by SFL | 266,114 |  |  | 84,697 |  |  | 78,947 |  |  | 102,470 |

X
- Definition Summarized balance sheet and statement of operations information of the Company's equity method investees. + References No definition available. + Details
Name: | sfl_EquityMethodInvestmentsSummarizedFinancialStatementsTableTextBlock
Namespace Prefix: | sfl_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=sfl_EquityAccountedSubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |