Golar LNG Limited - Announcement of filing of amendment to the 2015 Annual Report on Form 20-F/A
(Thomson Reuters ONE) -
Hamilton, Bermuda, November 10, 2016-Golar LNG Limited ("Golar" or the
"Company") announces that it has filed a Form 20-F/A for the year ended December
31, 2015 with the U.S. Securities and Exchange Commission (the "SEC") reporting
its restated historical results for the periods set forth therein.
The restatement relates to a technical accounting amendment relating to Golar's
accounting for its investment in Golar LNG Partners L.P. ("Golar Partners") and
follows a review of the Company's accounting for its investment in Golar
Partners in light of recent clarifications contained in comment letters from the
Staff of the Securities and Exchange Commission ("SEC").
The Company had previously accounted for its various interests in Golar Partners
differently. It accounted for its Common Units as available-for-sale securities;
its Subordinated Units under the equity method as investments in affiliates and
its General Partner Units and Incentive Distribution Rights under the cost
method.
As a result of the Company's review it has now restated its consolidated
financial statements and has accounted for its Common Units, General Partner
Units and Incentive Distribution Rights in the same way it has accounted for its
Subordinated Units as noted above, under the equity method of accounting. The
Company has also made certain other related adjustments as described more fully
in its recently filed Form 20-F/A which may be accessed as noted below.
The change in accounting for the Company's investment in Golar Partners does not
affect the market value of Golar's investment, its cash flows, its covenant
compliance or its liquidity.
The book entries that were required to give effect to this restatement have
resulted in a change to the net income for the years ended December
31, 2013, 2014 and 2015 as follows (in thousands of $):
2015 2014 2013
Net (Loss) Income as previously reported (178,501 ) (41,466 ) 135,713
Net Income amendment gain/(loss) 26,513 (4,896 ) (26,158 )
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Net (Loss) Income after restatement (151,988 ) (46,362 ) 109,555
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The Form 20-F/A may be accessed on the Company's website, www.golarlng.com, or
in the link below. It is also available on the SEC's website, www.sec.gov.
November 11, 2016
The Board of Directors
Golar LNG Limited
Hamilton, Bermuda
2015 Annual Report 20-F A:
http://hugin.info/133076/R/2056407/770232.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 11.11.2016 - 15:14 Uhr
Sprache: Deutsch
News-ID 506481
Anzahl Zeichen: 3402
contact information:
Town:
Hamilton
Kategorie:
Business News
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