In the water they sink to the bottom of shallow areas and occasionally rise to the surface for air. In deeper water, they float upright with the tip of their nose out of the water. Sea lions are often seen with one flipper out of the water. The reason for this is because the capillaries are close to the surface of the skin and can catch sunbeams to warm their body. To cool down, they put their flipper into the water then raise it back up into the air which will cool them off due to the evaporation process.
Alligators use a similar method to control their body temperature.
Sea lions molt once each year, usually after the breeding season, but it is not as obvious as true seals. During the molting season, seals can not enter the water because they do not have proper insulation to keep them warm, therefore they fast during this time period. Sea lions are able to enter the water during their gradual molting period. Pups will molt twice during their first six months of life. They are very soft and when wet feel like a dog that just went swimming.