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INVESTMENT IN ASSOCIATED COMPANIES
12 Months Ended
Dec. 31, 2024
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]  
INVESTMENT IN ASSOCIATED COMPANIES INVESTMENT IN ASSOCIATED COMPANIES
 
River Box holds investments in direct financing leases, through its subsidiaries, related to the 19,200 and 19,400 TEU containerships MSC Anna, MSC Viviana, MSC Erica and MSC Reef. The remaining 50.1% of the shares of River Box are held by a subsidiary of Hemen Holding Limited ("Hemen"), the Company's largest shareholder and a related party.

Summarized balance sheet information of the Company's equity method investees is as follows:

River Box
(in thousands of $)20242023
Share presented49.90 %49.90 %
Current assets 17,49816,371
Non-current assets206,048220,816
Total assets223,546237,187
Current liabilities15,71415,173
Non-current liabilities (1)191,450205,541
Total liabilities207,164220,714
Total stockholders' equity16,38216,473
(1)River Box non-current liabilities as of December 31, 2024, include $45.0 million due to SFL (December 31, 2023: $45.0 million). (See Note 25: Related Party Transactions).

Summarized statement of operations information of the Company's equity method investees is shown below. 

River Box Year ended December 31,
(in thousands of $)202420232022
Operating revenues17,423 18,358 19,269 
Net operating revenues17,402 18,339 19,248 
Net income (2)2,798 2,848 2,833 
(2)The net income of River Box for the year ended December 31, 2024, includes interest payable to SFL amounting to $4.6 million (December 31, 2023: $4.6 million, December 31, 2022: $4.6 million). (See Note 25: Related Party Transactions).

The allowance for expected credit losses for the year ended December 31, 2024 was $0.2 million (December 31, 2023: $0.3 million).

In the year ended December 31, 2024, River Box paid a dividend of $2.9 million to the Company (December 31, 2023: $2.9 million, December 31, 2022: $2.9 million).