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INVESTMENT IN ASSOCIATED COMPANIES | 12 Months Ended
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Dec. 31, 2024
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract] |
INVESTMENT IN ASSOCIATED COMPANIES | INVESTMENT IN ASSOCIATED COMPANIES River Box holds investments in direct financing leases, through its subsidiaries, related to the 19,200 and 19,400 TEU containerships MSC Anna, MSC Viviana, MSC Erica and MSC Reef. The remaining 50.1% of the shares of River Box are held by a subsidiary of Hemen Holding Limited ("Hemen"), the Company's largest shareholder and a related party. Summarized balance sheet information of the Company's equity method investees is as follows:
| River Box |  |  |  |  |  |
(in thousands of $) | 2024 |  | 2023 |  |  |  |  |  |
Share presented | 49.90 | % |  | 49.90 | % |  |  |  |  |  |
Current assets | 17,498 |  | 16,371 |  |  |  |  |  |
Non-current assets | 206,048 |  | 220,816 |  |  |  |  |  |
Total assets | 223,546 |  | 237,187 |  |  |  |  |  |
Current liabilities | 15,714 |  | 15,173 |  |  |  |  |  |
Non-current liabilities (1) | 191,450 |  | 205,541 |  |  |  |  |  |
Total liabilities | 207,164 |  | 220,714 |  |  |  |  |  |
Total stockholders' equity | 16,382 |  | 16,473 |  |  |  |  |  |
(1)River Box non-current liabilities as of December 31, 2024, include $45.0 million due to SFL (December 31, 2023: $45.0 million). (See Note 25: Related Party Transactions). Summarized statement of operations information of the Company's equity method investees is shown below.
River Box | Year ended December 31, |  |  |  |  |  |  |
(in thousands of $) | 2024 | 2023 | 2022 |  |  |  |  |  |  |
Operating revenues | 17,423 |  | 18,358 |  | 19,269 |  |  |  |  |  |  |  |
Net operating revenues | 17,402 |  | 18,339 |  | 19,248 |  |  |  |  |  |  |  |
Net income (2) | 2,798 |  | 2,848 |  | 2,833 |  |  |  |  |  |  |  |
(2)The net income of River Box for the year ended December 31, 2024, includes interest payable to SFL amounting to $4.6 million (December 31, 2023: $4.6 million, December 31, 2022: $4.6 million). (See Note 25: Related Party Transactions). The allowance for expected credit losses for the year ended December 31, 2024 was $0.2 million (December 31, 2023: $0.3 million). In the year ended December 31, 2024, River Box paid a dividend of $2.9 million to the Company (December 31, 2023: $2.9 million, December 31, 2022: $2.9 million).

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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