| Adjusted EBITDA |
Net income/(loss) |
+/- Income taxes
+ Depreciation and amortization
+ Impairment of long-lived assets
+/- Unrealized (gain)/loss on oil and gas derivative instruments
+/- Other non-operating (income)/losses
+/- Net financial (income)/expense
+/- Net (income)/losses from equity method investments
+/- Net loss/(income) from discontinued operations
+/- Sales-type lease receivable in excess of interest income
|
Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, impairment charge, financing costs, tax items, discontinued operations and sales-type lease receivable in excess of interest income. |
| Contractual debt 1 |
Total debt (current and non-current), net of deferred finance charges |
+/-Variable Interest Entity (“VIE”) consolidation adjustments
+/-Deferred finance charges
|
During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This
means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.
Contractual debt represents our debt obligations under our various financing arrangements before
consolidating the lessor VIE.
The measure enables investors and users of our financial statements to assess our liquidity,
identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our
competitors.
|
| Total Golar Cash |
Golar cash based on GAAP measures:
+ Cash and cash equivalents
+ Restricted cash and short-term deposits (current and non-current)
|
-VIE restricted cash and short-term deposits |
We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation,
we include restricted cash held by the lessor VIE.
Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term
deposits (current and non-current) before consolidating the lessor VIE.
Management believe that this measure enables investors and users of our financial statements
to assess our liquidity and aids comparability with our competitors.
|
