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GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

12 Months Ended

Dec. 31, 2014

GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS [Abstract]

GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

10. GAIN ON SALE OF ASSETS AND AMORTIZATION OF DEFERRED GAINS

Gain on sale of assets and amortization of deferred gains in each of the three years ended December 31, may be summarized as follows;

(in thousands of $)	2014			2013			2012
Net gain on lease terminations	40,382			21,237			21,806
Net loss on sale of vessels	(15,762	)		—			(2,109	)
Amortization of deferred gains	—			2,321			15,062
	24,620			23,558			34,759

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- Definition

Entire disclosure of gains (losses) on the sale of assets and the amortization of deferred gains.

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