Source document: golar-lng-ltd_2019

Question: What are the components of net periodic benefit costs?
Facts: Expected return on plan assets; Interest cost; Recognized actuarial loss; Service cost
Answer: Service cost; Interest cost; Expected return on plan assets; Recognized actuarial loss

Question: How are net periodic pension plan costs determined?
Facts: Using the Projected Unit Credit Cost method
Answer: Using the Projected Unit Credit Cost method

Question: What does plan assets comprise of?
Facts: Fixed income and equity funds managed by professional fund managers
Answer: Fixed income and equity funds managed by professional fund managers

Question: Which year was the interest cost the lowest?
Facts: 2018
Derivation: 1,687 < 1,740 <1,901
Answer: 2018

Question: What was the change in service cost from 2017 to 2018?
Facts: 250; 313
Derivation: 250 - 313 
Answer: -63 thousand

Question: What was the percentage change in net periodic benefit cost from 2018 to 2019?
Facts: 2,304; 2,403
Derivation: (2,304 - 2,403)/2,403 
Answer: -4.12 percent

Question: In which years was the consolidated results recorded for?
Facts: 2017; 2018
Answer: 2017; 2018

Question: What was the net income attributable to non-controlling shareholders who hold interests in Hilli LLC and Hilli Corp in 2017?
Facts: $1.5 million
Answer: $1.5 million

Question: What accounted for the increase in interest income?
Facts: Due to returns on our fixed deposits that had been made in 2018, and income derived from the lending capital of our lessor VIEs, that we are required to consolidate under U.S. GAAP
Answer: Due to returns on our fixed deposits that had been made in 2018, and income derived from the lending capital of our lessor VIEs, that we are required to consolidate under U.S. GAAP

Question: Which year has a higher income tax?
Facts: 2017
Derivation: (1,505) > (1,267)
Answer: 2017

Question: What was the change in net unrealized gains on the interest rate swaps between 2017 and 2018?
Facts: 0.6; 6.6
Derivation: $0.6 million - $6.6 million 
Answer: -6 million

Question: What was the percentage change net income attributable to non-controlling shareholders who hold interests in Hilli LLC and Hilli Corp between 2017 and 2018?
Facts: 1.5; 19.7
Derivation: (19.7 - 1.5)/1.5 
Answer: 1213.33 percent

Question: In which years was the financial information recorded for?
Facts: 2018; 2019
Answer: 2019; 2018

Question: What was the net debt receipts in 2019?
Facts: 129,454
Answer: 129,454 thousand

Question: What was the net debt repayments in 2018?
Facts: (30,300)
Answer: (30,300) thousand

Question: In which year was the realized and unrealized (losses)/gains on the oil derivative instrument higher?
Facts: 2018
Derivation: 16,767 > (26,001)
Answer: 2018

Question: What was the change in net debt receipts between 2018 and 2019?
Facts: 0; 129,454
Derivation: 129,454 - 0 
Answer: 129454 thousand

Question: What was the percentage change in liquefaction services revenue between 2018 and 2019?
Facts: 127,625; 218,096
Derivation: (218,096 - 127,625)/127,625 
Answer: 70.89 percent

Question: What was the reason for entering into agreements with Keppel in 2018?
Facts: For the conversion of the Gimi to a FLNG
Answer: For the conversion of the Gimi to a FLNG

Question: Which years did Golar enter into agreements with companies like Keppel and BP respectively?
Facts: 2018; 2019
Answer: 2018; 2019

Question: What was the conversion cost of the Gimi?
Facts: $1.3 billion
Answer: $1.3 billion

Question: Which year was the asset under development as of January 1 higher?
Facts: 2018
Derivation: 1,177,489 > 20,000
Answer: 2018

Question: What was the change in additions between 2018 and 2019?
Facts: 118,942; 372,849
Derivation: 372,849 - 118,942 
Answer: 253907 thousand

Question: What was the percentage change in asset under development as of December 31 between 2018 and 2019?
Facts: 20,000; 434,248
Derivation: (434,248 - 20,000)/20,000 
Answer: 2071.24 percent

Question: What was the reason for the increase in average daily TCE?
Facts: Lower voyage expenses offsetting the decrease in operating revenues
Answer: Lower voyage expenses offsetting the decrease in operating revenues

Question: What accounted for the change in administrative expenses?
Facts: Due to a decrease in corporate expenses and share options expenses.
Answer: Due to a decrease in corporate expenses and share options expenses.

Question: In which years was the  average daily TCE recorded for?
Facts: 2018; 2019
Answer: 2018; 2019

Question: In which year was the project development expenses higher?
Facts: 2018
Derivation: (5,165) > (2,050)
Answer: 2018

Question: What was the change in the calendar days less scheduled off-hire days?
Facts: 3,840; 3,987
Derivation: 3,987 - 3,840 
Answer: 147 thousand

Question: What was the percentage change in average daily TCE?
Facts: 43,700; 44,400
Derivation: (44,400 - 43,700)/43,700 
Answer: 1.6 percent

Question: In which years was the assets and liabilities recorded for?
Facts: 2018; 2019
Answer: 2019; 2018

Question: Who is the primary beneficiary of the Hilli Lessor VIE ?
Facts: Hilli LLC
Answer: Hilli LLC

Question: What was the current liabilities in 2018?
Facts: (278,728)
Answer: (278,728) thousand

Question: Which year was the non-current liabilities higher?
Facts: 2018
Derivation: (842,786) > (418,578)
Answer: 2018

Question: What was the change in current assets between 2018 and 2019?
Facts: 172,554; 64,507
Derivation: 64,507 - 172,554 
Answer: -108047 thousand

Question: What was the percentage change in non-current assets between 2018 and 2019?
Facts: 1,300,065; 1,392,710
Derivation: (1,300,065 - 1,392,710)/1,392,710 
Answer: -6.65 percent

Question: In which years was the transaction with other related parties recorded for?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: What are the different parties involved with the transactions?
Facts: 2020 Bulkers; Borr Drilling; Magni Partners; The Cool Pool
Answer: The Cool Pool; Magni Partners; Borr Drilling; 2020 Bulkers

Question: Who is the founder of Borr Drilling?
Facts: Tor Olav Trøim
Answer: Tor Olav Trøim

Question: In which year was the transaction with The Cool Pool the highest?
Facts: 2018
Derivation: 151,152 > 59,838 > 39,666
Answer: 2018

Question: What was the change in total transaction with other related parties from 2018 to 2019?
Facts: 150,777; 39,615
Derivation: 39,615 - 150,777 
Answer: -111162 thousand

Question: What was the percentage change in total transaction with other related parties from 2017 to 2018?
Facts: 150,777; 59,578
Derivation: (150,777 - 59,578)/59,578 
Answer: 153.07 percent

Question: What does restricted cash relating to the share repurchase forward swap represent?
Facts: Collateral required by the bank with whom we entered into a total return equity swap
Answer: Collateral required by the bank with whom we entered into a total return equity swap

Question: How much letter of credit was issued by the financial institution in 2015?
Facts: $400 million
Answer: $400 million

Question: In which years was the restricted cash and short-term deposits recorded for?
Facts: 2018; 2019
Answer: 2019; 2018

Question: In which year was the restricted cash relating to office lease higher?
Facts: 2019
Derivation: 826 > 777
Answer: 2019

Question: What was the change in collateral on the Margin Loan facility between 2018 and 2019?
Facts: 10,000; 33,413
Derivation: 10,000 - 33,413 
Answer: -23413 thousand

Question: What was the percentage change in restricted cash in relation to the Hilli between 2018 and 2019?
Facts: 174,597; 75,968
Derivation: (75,968 - 174,597)/174,597 
Answer: -56.49 percent

Question: What are the different components of cash flows?
Facts: Net (decrease) increase in cash, cash equivalents and restricted cash; Net cash (used in)/provided by financing activities; Net cash provided by/(used in) operating activities; Net cash used in investing activities
Answer: Net cash provided by/(used in) operating activities; Net cash used in investing activities; Net cash (used in)/provided by financing activities; Net (decrease) increase in cash, cash equivalents and restricted cash

Question: What was the amount of dividends received from Golar Partners in 2018?
Facts: $33.2 million
Answer: $33.2 million

Question: What accounted for the higher contributions from the participation in Cool Pool?
Facts: Improved utilization and daily hire rates from the Cool Pool vessels
Answer: Improved utilization and daily hire rates from the Cool Pool vessels

Question: In which year was the net cash provided by/(used in) operating activities the highest?
Facts: 2018
Derivation: 116.7 > 106.5 > (35.1)
Answer: 2018

Question: What was the change in cash, cash equivalents and restricted cash at beginning of year from 2018 to 2019?
Facts: 612.7; 704.3
Derivation: 704.3 - 612.7 
Answer: 91.6 million

Question: What was the percentage change in cash, cash equivalents and restricted cash at end of year from 2017 to 2018?
Facts: 612.7; 704.3
Derivation: (704.3 - 612.7)/612.7 
Answer: 14.95 percent

Question: What are the segments of accrued expenses?
Facts: Administrative expenses; Current tax payable; Interest expense; Vessel operating and drydocking expenses
Answer: Vessel operating and drydocking expenses; Administrative expenses; Interest expense; Current tax payable

Question: What does administrative expenses represent?
Facts: comprised of general overhead including personnel costs, legal and professional fees, costs associated with project development, property costs and other general expenses
Answer: comprised of general overhead including personnel costs, legal and professional fees, costs associated with project development, property costs and other general expenses

Question: What accounted for the movement in interest expense?
Facts: Due to repayments of VIE entities' accrued interest expenses during the year.
Answer: Due to repayments of VIE entities' accrued interest expenses during the year.

Question: Which year has a higher interest expense?
Facts: 2018
Derivation: (97,688) > (44,150)
Answer: 2018

Question: What was the change in administrative expense between 2018 and 2019?
Facts: 11,042; 11,713
Derivation: (11,713) - (11,042) 
Answer: -671 thousand

Question: What was the percentage change in current tax payable between 2018 and 2019?
Facts: 463; 720
Derivation: (720-463)/463
Answer: 55.51 percent

Question: How much was the customer billing during the commissioning period?
Facts: $33.8 million
Answer: $33.8 million

Question: In which years as the liquefaction services revenue recorded for?
Facts: 2018; 2019
Answer: 2019; 2018

Question: What was the amortization of deferred commissioning period revenue in 2018?
Facts: 2,467
Answer: 2,467 thousand

Question: In which year was the amortization of Day 1 gain lower?
Facts: 2018
Derivation: 5,817 < 9,950
Answer: 2018

Question: What was the change in base tolling fee between 2018 and 2019?
Facts: 119,677; 204,501
Derivation: 204,501 - 119,677 
Answer: 84824 thousand

Question: What was the percentage change in the total liquefaction services revenue between 2018 and 2019?
Facts: 127,625; 218,096
Derivation: (218,096 - 127,625)/127,625 
Answer: 70.89 percent

Question: In which years are the income(expenses) recorded for?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: When did Golar Partners enter into an agreement with Golar Management?
Facts: March 30, 2011
Answer: March 30, 2011

Question: How much cash consideration was received from the sale of Golar Tundra?
Facts: $107.2 million
Answer: $107.2 million

Question: Which year was the management and administrative services revenue the highest?
Facts: 2018
Derivation: 9,809 > 9,645 > 7,762
Answer: 2018

Question: What was the change in ship management fees revenue from 2017 to 2018?
Facts: 5,200; 5,903
Derivation: 5,200 - 5,903 
Answer: -703 thousand

Question: What was the percentage change in total from 2018 to 2019?
Facts: 10,230; 13,996
Derivation: (13,996 - 10,230)/10,230 
Answer: 36.81 percent

Question: In which years was the total operating revenues to average daily TCE recorded for?
Facts: 2015; 2016; 2017; 2018; 2019
Answer: 2019; 2018; 2017; 2016; 2015

Question: How was the average daily vessel operating cost calculated?
Facts: By dividing vessel operating costs by the number of calendar days
Answer: By dividing vessel operating costs by the number of calendar days

Question: What was the charterhire expenses in 2017?
Facts: $12.4 million
Answer: $12.4 million

Question: In which year was the net time and voyage charter revenues the highest?
Facts: 2018
Derivation: 278,770 >208,766 > 116,961> 90,127> 66,032
Answer: 2018

Question: What was the change in total operating revenues from 2016 to 2017?
Facts: 143,537; 80,257
Derivation: 143,537 - 80,257 
Answer: 63280 thousand

Question: What was the percentage change in average daily TCE rate from 2018 to 2019?
Facts: 43,700; 44,400
Derivation: (44,400 - 43,700)/43,700 
Answer: 1.6 percent

Question: In which years was the realized and unrealized (loss)/ gain on the oil derivative instrument recorded for?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: How was the fair value of oil derivative instrument determined?
Facts: using the estimated discounted cash flows of the additional payments due to us as a result of oil prices moving above a contractual oil price floor over the term of the liquefaction tolling agreement ("LTA").
Answer: using the estimated discounted cash flows of the additional payments due to us as a result of oil prices moving above a contractual oil price floor over the term of the liquefaction tolling agreement ("LTA").

Question: What inputs were used in the valuation of the oil derivative instrument?
Facts: management’s estimate of an appropriate discount rate and the length of time to blend the long-term and the short-term oil prices obtained from quoted prices in active markets.
Answer: management’s estimate of an appropriate discount rate and the length of time to blend the long-term and the short-term oil prices obtained from quoted prices in active markets.

Question: In which year was the unrealized loss on oil derivative instrument the highest?
Facts: 2019
Derivation: (39,090) > (9,970) > 15,100
Answer: 2019

Question: What was the change in realized gain on oil derivative instrument from 2017 to 2018?
Facts: 0; 26,737
Derivation: 26,737 - 0 
Answer: 26737 thousand

Question: What was the percentage change in total realized and unrealized (loss)/ gain on the oil derivative instrument from 2017 to 2018?
Facts: 15,100; 16,767
Derivation: (16,767 - 15,100)/15,100 
Answer: 11.04 percent

Question: Why did the activity levels decrease in 2018?
Facts: Golar and Schlumberger decided to wind down OneLNG and work on FLNG projects as required on a case-by-case basis
Answer: Golar and Schlumberger decided to wind down OneLNG and work on FLNG projects as required on a case-by-case basis

Question: What was the realized gain on the oil derivative instrument?
Facts: $26.7 million
Answer: $26.7 million

Question: What are the different components of expenses?
Facts: Administrative expenses; Depreciation and amortization; Project development expenses; Vessel operating expenses; Voyage expenses
Answer: Vessel operating expenses; Voyage expenses; Administrative expenses; Project development expenses; Depreciation and amortization

Question: In which year was the project development expenses higher?
Facts: 2018
Derivation: (16,526) > (2,506)
Answer: 2018

Question: What was the change in total operating revenues between 2017 and 2018?
Facts: 0; 127,625
Derivation: 127,625 - 0 
Answer: 127625 thousand

Question: What was the percentage change in operating income between 2017 and 2018?
Facts: 10,735; 58,150
Derivation: (58,150 - 10,735)/10,735 
Answer: 441.69 percent

Question: What does Methane Princess lease security deposit movement represent?
Facts: Net advances from Golar Partners since its IPO, which correspond with the net release of funds from the security deposits held relating to a lease for the Methane Princess
Answer: Net advances from Golar Partners since its IPO, which correspond with the net release of funds from the security deposits held relating to a lease for the Methane Princess

Question: In which years was the receivables (payables) recorded for?
Facts: 2018; 2019
Answer: 2019; 2018

Question: How often are receivables and payables generally settled?
Facts: Quarterly in arrears
Answer: Quarterly in arrears

Question: Which year was the balances due (to)/from Golar Partners and its subsidiaries higher?
Facts: 2018
Derivation: 4,091 > (2,708)
Answer: 2018

Question: What was the change in Methane Princess lease security deposit movements between 2018 and 2019?
Facts: 2,253; 2,835
Derivation: (2,253) - (2,835) 
Answer: 582 thousand

Question: What was the percentage change in total between 2018 and 2019?
Facts: 1,256; 4,961
Derivation: ((4,961)- 1,256)/1,256 
Answer: -494.98 percent

Question: In which years was the other consolidated results recorded for?
Facts: 2018; 2019
Answer: 2018; 2019

Question: What was the reason for the change in other financial items, net?
Facts: Primarily as a result of consolidating our lessor VIEs.
Answer: Primarily as a result of consolidating our lessor VIEs.

Question: What accounted for the increase in net income attributable to non-controlling interests?
Facts: Due to the completion of the Hilli Disposal in July 2018
Answer: Due to the completion of the Hilli Disposal in July 2018

Question: Which year has a higher income tax?
Facts: 2018
Derivation: (1,267) > (1,024)
Answer: 2018

Question: What was the change in net unrealized losses on the interest rate swaps?
Facts: 0.6; 16.5
Derivation: -16.5 - 0.6 
Answer: -17.1 million

Question: What was the percentage change in net income attributable in relation to the non-controlling shareholders who hold interests in Hilli LLC?
Facts: 19.7; 36.5
Derivation: (36.5 - 19.7)/19.7 
Answer: 85.28 percent

Question: With which party did Golar Power closed their transaction with?
Facts: Stonepeak
Answer: Stonepeak

Question: In which years was the transactions recorded for?
Facts: 2017; 2018; 2019
Answer: 2019; 2018; 2017

Question: What do Receivables and payables with Golar Power and its subsidiaries consist of?
Facts: Comprised primarily of unpaid management fees, advisory and administrative services
Answer: Comprised primarily of unpaid management fees, advisory and administrative services

Question: Which year was the debt guarantee compensation the lowest?
Facts: 2019
Derivation: 693 < 775 < 861
Answer: 2019

Question: What was the change in ship management fees income from 2017 to 2018?
Facts: 1,400; 824
Derivation: 1,400 - 824 
Answer: 576 thousand

Question: What was the percentage change in total transactions from 2018 to 2019?
Facts: 7,805; 8,181
Derivation: (7,805 - 8,181)/8,181 
Answer: -4.6 percent

Question: How much unrecoverable receivables was written off in 2018 relating to OneLNG?
Facts: $12.7 million
Answer: $12.7 million

Question: How many months of depreciation was recognized in 2018?
Facts: Seven months
Answer: Seven months

Question: What are the different components of expenses?
Facts: Administrative expenses; Depreciation and amortization; Other operating (losses)/gains; Project development expenses; Vessel operating expenses; Voyage expenses, charter-hire and commission expenses
Answer: Vessel operating expenses; Voyage expenses, charter-hire and commission expenses; Administrative expenses; Project development expenses; Depreciation and amortization; Other operating (losses)/gains

Question: In which year has a higher project development expense?
Facts: 2018
Derivation: (16,526) > (2,939)
Answer: 2018

Question: What was the change in total operating revenues?
Facts: 127,625; 218,096
Derivation: 218,096 - 127,625 
Answer: 90471 thousand

Question: What was the percentage change in operating income?
Facts: 58,150; 82,586
Derivation: (82,586 - 58,150)/58,150 
Answer: 42.02 percent