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OPERATING LEASES (Tables) | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Operating Lease Maturity | The future minimum rental payments under the Company's non-cancellable operating leases as of June 30, 2021 are as follows:
(in thousands of $) |  |
Year 1 |  | 1,260 |
Year 2 |  | 1,156 |
Year 3 |  | 1,094 |
Year 4 |  | 1,123 |
Year 5 |  | 568 |
Thereafter |  | — |
Total minimum lease payments |  | 5,201 |
Less: Imputed interest |  | (366) |
Present value of operating lease liabilities |  | 4,835 |
The future minimum rental payments under the Company's non-cancellable operating leases as of December 31, 2020 are as follows:
(in thousands of $) |  |
2021 |  | 4,705 |
2022 |  | 1,182 |
2023 |  | 1,078 |
2024 |  | 1,107 |
2025 |  | 1,137 |
Thereafter |  | — |
Total minimum lease payments |  | 9,209 |
Less: Imputed interest |  | (484) |
Present value of operating lease liabilities |  | 8,725 |
Schedule of Future Rental Income | The minimum future revenues to be received under our fixed rate contracts as of June 30, 2021 are as follows:
(in thousands of $) |  |
Year 1 |  | 26,128 |
Year 2 |  | 28,968 |
Year 3 |  | — |
Year 4 |  | — |
Year 5 |  | — |
Thereafter |  | — |
Total minimum lease payments |  | 55,096 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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