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INVESTMENT IN FINANCE LEASE | 12 Months Ended
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Dec. 31, 2014
INVESTMENT IN FINANCE LEASE [Abstract] |
INVESTMENT IN FINANCE LEASE |
12. | INVESTMENT IN FINANCE LEASE
As of December 31, 2014, one of the Company's vessels was accounted for as a sales-type lease (2013: one). The following lists the components of the investment in sales-type lease as at December 31.
(in thousands of $) | 2014 |  |  | 2013 |
Net minimum lease payments receivable | 67,145 |  |  | 78,452 |
Estimated residual values of leased property (unguaranteed) | 20,320 |  |  | 20,320 |
Less: unearned income | (38,647 | ) |  | (47,398 | )
Total investment in sales-type lease | 48,818 |  |  | 51,374 |
Current portion | 3,028 |  |  | 2,555 |
Long-term portion | 45,790 |  |  | 48,819 |
| 48,818 |  |  | 51,374 |
The minimum future gross revenues to be received under the Company's non-cancelable sales-type lease as of December 31, 2014 are as follows:
(in thousands of $) |
2015 | 11,307 |
2016 | 11,338 |
2017 | 11,307 |
2018 | 11,307 |
2019 | 11,307 |
Thereafter | 10,579 |
Total minimum lease revenues | 67,145 |
The counterparty to the lease is a state-owned oil company which the Company has deemed to have a low credit risk.

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