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FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Schedule of Derivative Instruments | The interest rate swaps are not designated as hedges and are summarized as at December 31, 2019 as follows:
Notional Amount |  | Inception Date | Maturity Date | Fixed Interest Rate |
($000s) |  |  |  |
12,892 |  | June 2013 | June 2020 | 1.4025 | %
38,546 |  | September 2013 | September 2020 | 1.5035 | %
65,645 |  | December 2013 | December 2020 | 1.6015 | %
12,690 |  | March 2014 | March 2021 | 1.6998 | %
13,033 |  | June 2014 | June 2021 | 1.7995 | %
13,376 |  | September 2014 | September 2021 | 1.9070 | %
150,000 |  | February 2016 | February 2026 | 2.1970 | %
306,182 |  |  |  |
Carrying Value and Estimated Fair Value of Financial Instruments | The carrying value and estimated fair value of the Company's financial instruments as of December 31, 2019 and 2018 are as follows:
| 2019 |  | 2018
(in thousands of $) | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | 174,223 |  |  | 174,223 |  |  | 66,484 |  |  | 66,484 |
Restricted cash | 3,153 |  |  | 3,153 |  |  | 1,420 |  |  | 1,420 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Floating rate debt | 1,553,928 |  |  | 1,553,928 |  |  | 1,525,028 |  |  | 1,525,028 |
Fixed rate debt | 147,413 |  |  | 146,225 |  |  | 215,524 |  |  | 212,696 |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The estimated fair value of financial assets and liabilities are as follows:
(in thousands of $) | 2019 Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | 174,223 |  |  | 174,223 |  |  | — |  |  | — |
Restricted cash | 3,153 |  |  | 3,153 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Floating rate debt | 1,553,928 |  |  | — |  |  | 1,553,928 |  |  | — |
Fixed rate debt | 146,225 |  |  | — |  |  | 7,329 |  |  | 138,896 |
(in thousands of $) | 2018 Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |
Cash and cash equivalents | 66,484 |  |  | 66,484 |  |  | — |  |  | — |
Restricted cash | 1,420 |  |  | 1,420 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Floating rate debt | 1,525,028 |  |  | — |  |  | 1,525,028 |  |  | — |
Fixed rate debt | 212,696 |  |  | — |  |  | 7,631 |  |  | 205,065 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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