INVESTMENT IN FINANCE LEASE

12 Months Ended

Dec. 31, 2017

INVESTMENT IN FINANCE LEASE [Abstract]



13.	INVESTMENT IN FINANCE LEASE

As of December 31, 2017, one of the Company's vessels was accounted for as a sales-type lease (2016: one). The components of the investment in the sales-type lease may be summarized as follows:



(in thousands of $)	2017		2016
Net minimum lease payments receivable	22,070		33,563
Estimated residual values of leased property (unguaranteed)	10,821		10,821
Less: finance lease interest income	(1,983	)	(3,731	)
Total investment in sales-type lease	30,908		40,653
Current portion	9,126		9,745
Long-term portion	21,782		30,908
	30,908		40,653

The minimum future gross revenues to be received under the sales-type lease as of December 31, 2017 are as follows:



(in thousands of $)
2018		10,419
2019		11,493
2020		158
2021		—
2022		—
Thereafter		—
		22,070

The counterparty to the lease is a state-owned oil company, which the Company has deemed to have a low credit risk.