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INVESTMENTS AND DEFICIT IN ASSOCIATED COMPANIES (Tables)
 6 Months Ended
Jun. 30, 2020
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]  
Percentage participation using the equity method of accounting
At June 30, 2020, June 30, 2019 and December 31, 2019 the Company had the following participation in investments that were recorded using the equity method:
June 30, 2020June 30, 2019December 31, 2019
SFL Deepwater Ltd (“SFL Deepwater”)100 %100 %100 %
SFL Hercules Ltd (“SFL Hercules”)100 %100 %100 %
SFL Linus Ltd (“SFL Linus”)100 %100 %100 %
Summarized financial statement information of equity method investees
Summarized balance sheet information of the Company’s wholly-owned equity method investees is as follows:
As of June 30, 2020
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Current assets66,132 32,961 18,362 14,809 
Non-current assets868,470 252,397 264,267 351,806 
Total assets934,602 285,358 282,629 366,615 
Current liabilities56,944 21,355 17,112 18,477 
Non-current liabilities856,276 277,263 255,256 323,757 
Total liabilities913,220 298,618 272,368 342,234 
Total stockholders’ equity/(deficit)21,382 (13,260)10,261 24,381 


As of December 31, 2019
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Current assets75,079 29,047 22,645 23,387 
Non-current assets920,801 286,222 273,621 360,958 
Total assets995,880 315,269 296,266 384,345 
Current liabilities65,832 19,168 20,761 25,903 
Non-current liabilities887,887 285,147 265,769 336,971 
Total liabilities953,719 304,315 286,530 362,874 
Total stockholders’ equity42,161 10,954 9,736 21,471 

Summarized statement of operations information of the Company’s wholly-owned equity method investees is as follows:
Six months ended June 30, 2020
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Operating revenues28,315 8,207 8,157 11,951 
Net operating revenues28,315 8,207 8,157 11,951 
Net income/(deficit)6,246 (721)2,341 4,626 
 
Six months ended June 30, 2019
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Operating revenues33,289 9,817 9,536 13,936 
Net operating revenues33,289 9,817 9,536 13,936 
Net income8,991 2,272 1,925 4,794 
Allowance for Expected Credit Losses in Associates
As required by ASU 2016-13 'Financial Instruments - Credit Losses' from January 2020, SFL Deepwater, SFL Hercules and SFL Linus recognized an allowance for expected credit losses in respect of their principal financial assets: 'Investment in direct financing leases' and 'Related party receivable balances', held at the reporting date, which are within the scope of the ASU. Movements in the six months ended June 30, 2020 in the allowance for expected credit losses can be summarized as follows:

(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Balance at December 31, 2019— — — — 
Adjustment for adoption of the ASU 2016-13 (Note 1)27,024 23,493 1,816 1,715 
Allowance recorded in net income3,369 3,100 110 159 
Balance at June 30, 202030,393 26,593 1,926 1,874 
Loan Balances and/or Revolving Credit Facilities of Equity Investees
Each subsidiary has entered into a term loan and revolving credit facility as follows:
Six months ended June 30, 2020
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Loan balance outstanding597,898 180,032 193,846 224,020 
Amount guaranteed by SFL285,529 84,697 83,059 117,773 

Year ended December 31, 2019
(in thousands of $)TOTALSFL DeepwaterSFL HerculesSFL Linus
Loan balance outstanding621,907 187,916 201,923 232,068 
Amount guaranteed by SFL266,114 84,697 78,947 102,470