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INVESTMENTS IN SALES-TYPE LEASES AND LEASEBACK ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2024
Net Investment in Direct Financing and Sales Type Leases [Abstract] |
Schedule of sales-type leases |
(in thousands of $) | 2024 |  | 2023
Investments in sales-type leases | 35,135 |  |  | 55,739 |
Total | 35,135 |  |  | 55,739 |
The following lists the components of investments in sales-type leases as of December 31, 2024 and December 31, 2023:
(in thousands of $) | Sales-Type Leases |  |
| December 31, 2024 | December 31, 2023 |  |
Total minimum lease payments to be received | 4,941 |  | 16,020 |  |  |
Purchase obligations at the end of the leases | 31,150 |  | 43,150 |  |  |
Net minimum lease payments receivable | 36,091 |  | 59,170 |  |  |
Less: unearned income | (920) |  | (3,358) |  |  |
Total investment in sales-type leases | 35,171 |  | 55,812 |  |  |
Allowance for expected credit losses* | (36) |  | (73) |  |  |
Total investment in sales-type leases | 35,135 |  | 55,739 |  |  |
Current portion | 35,135 |  | 20,640 |  |  |
Long-term portion | — |  | 35,099 |  |  |
*See Note 27: Allowance for Expected Credit Losses.
Schedule of minimum future gross revenues to be received under non-cancellable sales-type leases | The minimum future gross revenues including purchase obligations to be received under the Company's non-cancellable sales type leases as of December 31, 2024, are as follows:
(in thousands of $) | Sales-Type Leases |  |
Year ending December 31, |  |  |
2025 | 36,091 |  |  |
Thereafter | — |  |  |
Total minimum lease payments to be received | 36,091 |  |  |
Schedule of interest income earned on investments in direct financing leases, sales type leases and leaseback assets | Interest income earned on investments in direct financing leases, sales type leases and leaseback assets in the year ended December 31, 2024 was as follows:
(in thousands of $) | 2024 |  | 2023 |  | 2022
Investments in sales type and direct financing leases* | 2,439 |  |  | 3,894 |  |  | 5,021 |
Investments in leaseback assets | — |  |  | 2,298 |  |  | 3,895 |
Total | 2,439 |  |  | 6,192 |  |  | 8,916 |
* The 2022 interest income earned on investments in sales-type leases and direct financing leases in the above table includes $0.4 million in relation to two VLCCs on long-term charters to Frontline Shipping, a related party, until their disposal in 2022. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters).

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