SFL (SFL) 20-F 16 Mar 23 2022 FY Annual report (foreign) Financial data

COVER

COVER	12 Months Ended
	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-32199
Entity Registrant Name	SFL Corporation Ltd.
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line Two	Par-la-Ville Place
Entity Address, Address Line One	14 Par-la-Ville Road
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM
Title of 12(b) Security	Common Shares, $0.01 Par Value
Trading Symbol	SFL
Security Exchange Name	NYSE
Security Reporting Obligation	15(d)
Entity Common Stock, Shares Outstanding	138,562,173
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001289877
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line Two	Par-la-Ville Place
Entity Address, Address Line One	14 Par-la-Ville Road
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 08
Entity Address, Country	BM
Contact Personnel Name	James Ayers
City Area Code	+1 (441)
Local Phone Number	295-9500
Contact Personnel Fax Number	+1 (441) 295-3494

AUDIT INFORMATION

AUDIT INFORMATION	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	717
Auditor Name	MSPC Certified Public Accountants and Advisors,A Professional Corporation
Auditor Location	New York, New York

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating revenues
Interest income related parties – direct financing leases	$ 382	$ 5,186	$ 5,196
Interest income other – sales-type, direct financing leases and leaseback assets	8,534	14,338	66,020
Service revenue related parties – direct financing leases	1,746	6,570	6,903
Profit sharing revenues – related parties	3,044	10,103	18,677
Profit sharing income – other	24,786	10,601	3,892
Time charter revenues – related parties	52,326	50,463	51,954
Time charter revenues – other	423,662	319,282	268,635
Bareboat charter revenues – related parties	17,770	28,898	0
Bareboat charter revenues – other	41,183	1,798	7,863
Voyage charter revenues	72,362	61,804	37,287
Drilling contract revenues	18,775	0	0
Other operating income	5,823	4,353	4,620
Total operating revenues	670,393	513,396	471,047
Gain on sale of assets, net	13,228	39,405	2,250
Operating expenses
Vessel operating expenses – related parties	24,141	28,623	30,276
Vessel operating expenses – other	164,261	128,109	125,367
Rig operating expenses	16,741	0	0
Depreciation	187,827	138,330	111,279
Vessel impairment charge	0	1,927	333,149
Administrative expenses – related parties	1,541	740	1,178
Administrative expenses – other	13,636	12,234	10,222
Total operating expenses	408,147	309,963	611,471
Net operating income/(loss)	275,474	242,838	(138,174)
Non-operating income / (expense)
Interest income – related parties, long term loans to associated companies	4,563	6,921	11,925
Interest income – related parties, other	463	443	599
Interest income – other	2,947	86	876
Interest expense	(117,339)	(97,090)	(135,442)
Gain/(loss) on investments in debt and equity securities	18,171	995	(22,453)
(Loss)/gain on purchase of bonds and debt extinguishment	0	(727)	67,533
Gain on settlement of related party loan notes	0	0	4,446
Dividend income – related parties	128	0	6,030
Gain on sale of subsidiaries, non-operating	0	0	1,894
Other financial items, net	15,528	6,683	(25,945)
Net income/(loss) before equity in earnings of associated companies	199,935	160,149	(228,711)
Equity in earnings of associated companies	2,833	4,194	4,286
Net income/(loss)	$ 202,768	$ 164,343	$ (224,425)
Per share information:
Basic earnings/(loss)per share (in dollars per share)	$ 1.60	$ 1.35	$ (2.06)
Weighted average number of shares outstanding, basic (in shares)	126,789	122,141	108,972
Diluted earnings/(loss) per share (in dollars per share)	$ 1.53	$ 1.30	$ (2.06)
Weighted average number of shares outstanding, diluted (in shares)	137,377	139,383	108,972
Cash dividend per share declared and paid (in dollars per share)	$ 0.88	$ 0.63	$ 1

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 202,768	$ 164,343	$ (224,425)
Fair value adjustments to hedging financial instruments	18,602	10,408	(7,695)
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	0	0	1,059
Fair value adjustments to available-for-sale securities	0	(1,101)	(4,608)
Earnings reclassification of previously deferred fair value adjustments to investment securities classified as available-for-sale securities	(631)	817	4,888
Other comprehensive income/(loss)	(63)	(2)	55
Other comprehensive income/(loss), net of tax	17,908	10,122	(6,301)
Comprehensive income/(loss)	$ 220,676	$ 174,465	$ (230,726)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 188,362	$ 145,622
Restricted cash	0	8,338
Investment in debt and equity securities	7,283	21,210
Due from related parties	4,392	8,557
Trade accounts receivable	20,003	11,134
Other receivables	26,052	15,444
Inventories	16,395	10,124
Prepaid expenses and accrued income	17,127	6,403
Investment in sales-type leases, direct financing leases and leaseback assets, current portion	15,432	23,484
Financial instruments at fair value, current portion	1,936	0
Total current assets	296,982	250,316
Vessels, rigs and equipment, net	2,646,389	2,230,583
Vessels under finance lease, net	614,763	656,072
Investment in sales-type leases, direct financing leases and leaseback assets, long-term portion	103,591	181,282
Investment in associated companies	16,547	16,635
Capital improvements, newbuildings and vessel purchase deposits	97,860	57,684
Loans and long term receivables from related parties including associates	45,000	45,000
Financial instruments at fair value, long-term portion	26,716	3,184
Other long-term assets	13,482	18,541
Total assets	3,861,330	3,459,297
Current liabilities
Short-term debt and current portion of long-term debt	921,270	302,769
Finance lease liability, current portion	53,655	51,204
Due to related parties	1,936	1,295
Trade accounts payable	7,887	1,770
Accrued expenses	27,198	19,794
Financial instruments at fair value, current portion	16,861	738
Other current liabilities	27,804	22,746
Total current liabilities	1,056,611	400,316
Long-term liabilities
Long-term debt	1,279,786	1,586,445
Finance lease liability, long-term portion	419,341	472,996
Financial instruments at fair value, long-term portion	14,357	17,209
Other long-term liabilities	4	4
Total liabilities	2,770,099	2,476,970
Commitments and contingent liabilities
Stockholders' equity
Share capital ($0.01 par value; 300,000,000 shares authorized; 138,562,173 shares issued and outstanding as of December 31, 2022). ($0.01 par value; 300,000,000 shares authorized; 138,551,387 shares issued and outstanding as of December 31, 2021).	1,386	1,386
Additional paid-in capital	616,554	621,037
Contributed surplus	424,562	461,818
Accumulated other comprehensive income/(loss)	8,714	(9,194)
Retained earnings / (accumulated deficit)	40,015	(92,720)
Total stockholders' equity	1,091,231	982,327
Total liabilities and stockholders' equity	$ 3,861,330	$ 3,459,297

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 01, 2020	Aug. 31, 2020	Dec. 31, 2019	Oct. 01, 2018	Sep. 30, 2018	Apr. 30, 2018	Nov. 30, 2016
Stockholders' equity
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01			$ 0.01			$ 0.01	$ 0.01	$ 0.01
Share capital, shares authorized (in shares)	300,000,000	300,000,000		300,000,000	200,000,000		200,000,000	150,000,000
Share capital, shares issued (in shares)	138,562,173	138,551,387
Share Capital, shares outstanding (in shares)	138,562,173	138,551,387	127,810,064			119,391,310

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income/(loss)	$ 202,768	$ 164,343	$ (224,425)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation	187,827	138,330	111,279
Amortization of deferred charges	7,209	6,704	9,040
Amortization of deferred charter revenue	3,282	6,672	6,641
Vessel impairment charge	0	1,927	333,149
Adjustment of derivatives to fair value recognized in net income	(17,142)	(11,591)	20,432
(Gain)/loss on investments in debt and equity securities	(18,171)	(995)	22,453
Equity in earnings of associated companies	(2,833)	(4,194)	(4,286)
Gain on sale of assets and termination of charters	(13,228)	(39,405)	(2,250)
Gain on sale of subsidiaries	0	0	(1,894)
Repayments from investment in sales-type, direct financing and leaseback assets	17,025	36,276	60,590
Loss/(gain) on repurchase of bonds	0	727	(67,533)
Loss on early termination of swaps	0	0	4,538
Other, net	1,381	1,072	(6,559)
Changes in operating assets and liabilities
Trade accounts receivable	(9,033)	(4,073)	(2,352)
Due to/ from related parties	4,836	(4,317)	21,035
Other receivables and other current assets	(11,026)	6,518	(2,628)
Inventories	(6,271)	(1,315)	(873)
Prepaid expenses and accrued income	(10,725)	(3,806)	(962)
Trade accounts payable	6,118	447	(2,198)
Accrued expenses and other current liabilities	13,108	275	3,278
Net cash provided by operating activities	355,125	293,595	276,475
Investing activities
Additions to direct financing leases and leaseback assets	0	0	(65,030)
Purchase of vessels, capital improvements and other additions	(602,499)	(581,622)	(55,016)
Proceeds from sale of vessels and termination of charters	83,333	183,886	210,920
Proceeds from sale of subsidiaries, net of cash disposed of	0	0	14,676
Net amounts received from associated companies	2,916	9,998	31,467
Payments for acquisition of debt and equity securities	0	(1,350)	(1,287)
Proceeds from redemption of debt and equity securities	14,989	9,608	23,661
Collateral deposits (received)/paid on swap agreements	2,173	(9,970)	17,922
Other investments and long-term assets, net	0	400	(974)
Net cash (used in)/provided by investing activities	(499,088)	(389,050)	176,339
Financing activities
Repayments of lease obligation liability	(51,204)	(48,887)	(68,599)
Proceeds from issuance of short-term and long-term debt	959,595	586,750	397,231
Repayments of short-term and long-term debt	(611,310)	(301,451)	(624,588)
Repurchase of bonds	0	(215,098)	(66,570)
Debt fees paid	(7,142)	(8,025)	(4,752)
Payment for early settlements of interest rate swaps, net	0	0	(4,539)
Principal settlements of cross currency swaps, net	0	0	(11,706)
Proceeds from shares issued, net of issuance costs	0	89,280	61,485
Cash dividends paid	(111,574)	(77,552)	(109,394)
Net cash provided by/(used in) financing activities	178,365	25,017	(431,432)
Net change in restricted cash and cash and cash equivalents	34,402	(70,438)	21,382
Cash, restricted cash and cash equivalents at start of the year	153,960	224,398	203,016
Cash, restricted cash and cash equivalents at end of the year	188,362	153,960	224,398
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	188,362	145,622	215,445
Restricted cash	0	8,338	8,953
Cash, restricted cash and cash equivalents at end of the year	188,362	153,960	224,398
Supplemental disclosure of cash flow information:
Interest paid on debt, swaps and leases, net of capitalized interest	$ 109,682	$ 96,827	$ 131,026

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Share capital	Additional paid-in capital	Additional paid-in capital Cumulative Effect, Period Of Adoption, Adjustment	Contributed surplus	Accumulated other comprehensive income/( loss)	Retained earnings / (accumulated deficit)	Retained earnings / (accumulated deficit) Cumulative Effect, Period Of Adoption, Adjustment	Designated as hedging instrument Interest rate swaps	Designated as hedging instrument Cross currency swaps	Designated as hedging instrument Cross currency interest rate swaps
Balance, at beginning of year (in shares) at Dec. 31, 2019	119,391,310
Balance, at beginning of year at Dec. 31, 2019		$ 1,194	$ 469,426		$ 648,764	$ (13,015)	$ 0	$ (32,638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (in shares)	8,418,754
Shares issued- share option, dividend reinvestment and other schemes		84	61,400
Payments in lieu of issuing shares			0
Amortization of stock-based compensation			966
Stock-based compensation forfeitures			(96)
Adjustment to equity component of convertible bonds arising from reacquisition of bonds			(314)
Fair value adjustments to hedging financial instruments						(7,695)
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	$ 1,059					1,059
Fair value adjustments to available-for-sale securities						(4,608)
Earnings reclassification of previously deferred fair value adjustments to available-for-sale securities	4,888					4,888
Other comprehensive income/(loss)	55					55
Net income/(loss)	$ (224,425)						(224,425)
Dividends declared					(109,394)		0
Balance, at end of year (in shares) at Dec. 31, 2020	127,810,064
Balance, at end of year at Dec. 31, 2020	$ 795,651	1,278	531,382		539,370	(19,316)	(257,063)
Accumulated other comprehensive income/(loss)
Fair value adjustments to hedging financial instruments									$ (5,564)	$ (7,162)	$ (7,146)
Reclassification of unrealized losses upon adoption of ASU 2017-12	(32)
Fair value adjustments to available-for-sale securities	915
Other items	(327)
Accumulated other comprehensive income/(loss)	$ (19,316)
Shares issued (in shares)	10,741,323
Shares issued- share option, dividend reinvestment and other schemes		108	89,269
Payments in lieu of issuing shares	$ 100		(97)
Amortization of stock-based compensation			981
Stock-based compensation forfeitures			0
Adjustment to equity component of convertible bonds arising from reacquisition of bonds			(498)
Fair value adjustments to hedging financial instruments						10,408
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	0					0
Fair value adjustments to available-for-sale securities						(1,101)
Earnings reclassification of previously deferred fair value adjustments to available-for-sale securities	817					817
Other comprehensive income/(loss)	(2)					(2)
Net income/(loss)	$ 164,343						164,343
Dividends declared					(77,552)		0
Balance, at end of year (in shares) at Dec. 31, 2021	138,551,387
Balance, at end of year at Dec. 31, 2021	$ 982,327	1,386	621,037	$ (5,863)	461,818	(9,194)	(92,720)	$ 4,285
Accumulated other comprehensive income/(loss)
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06 [Member]
Fair value adjustments to hedging financial instruments									2,758	(7,280)	(4,942)
Reclassification of unrealized losses upon adoption of ASU 2017-12	$ (32)
Fair value adjustments to available-for-sale securities	631
Other items	(329)
Accumulated other comprehensive income/(loss)	$ (9,194)
Shares issued (in shares)	10,786
Shares issued- share option, dividend reinvestment and other schemes		0	0
Payments in lieu of issuing shares			0
Amortization of stock-based compensation			1,380
Stock-based compensation forfeitures			0
Adjustment to equity component of convertible bonds arising from reacquisition of bonds			0
Fair value adjustments to hedging financial instruments						18,602
Earnings reclassification of previously deferred fair value adjustments to hedging financial instruments	$ 0					0
Fair value adjustments to available-for-sale securities						0
Earnings reclassification of previously deferred fair value adjustments to available-for-sale securities	(631)					(631)
Other comprehensive income/(loss)	(63)					(63)
Net income/(loss)	$ 202,768						202,768
Dividends declared					(37,256)		(74,318)
Balance, at end of year (in shares) at Dec. 31, 2022	138,562,173
Balance, at end of year at Dec. 31, 2022	$ 1,091,231	$ 1,386	$ 616,554		$ 424,562	$ 8,714	$ 40,015
Accumulated other comprehensive income/(loss)
Fair value adjustments to hedging financial instruments									$ 17,257	$ (7,198)	$ (921)
Reclassification of unrealized losses upon adoption of ASU 2017-12	(32)
Fair value adjustments to available-for-sale securities	0
Other items	(392)
Accumulated other comprehensive income/(loss)	$ 8,714

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL SFL Corporation Ltd. ("SFL" or the "Company") is an international maritime and offshore asset owning and chartering company, incorporated in October 2003 in Bermuda as a Bermuda exempted company. The Company's common shares are listed on the New York Stock Exchange under the symbol "SFL". The Company is primarily engaged in the ownership, operation and chartering out of vessels and offshore related assets on medium and long-term charters. As of December 31, 2022, the Company owned nine Suezmax crude oil carriers, five Supramax dry bulk carriers, two Kamsarmax dry bulk carriers, eight Capesize dry bulk carriers, 32 container vessels (including seven leased-in vessels), three car carriers, one jack-up drilling rig, one ultra-deepwater drilling unit, two chemical tankers and six oil product tankers. In addition, the Company has one very large crude oil carrier ("VLCC") which is accounted for as a leaseback asset. (See Note 18: Investments in Sales-Type Leases, Direct Financing Leases and Leaseback Assets). The Company also partly own four leased-in container vessels in our associated companies. (See Note 19: Investment in Associated Companies). In addition, the Company has contracted to acquire four dual-fuel 7,000 Car Equivalent Unit ("CEU") newbuilding car carriers, currently under construction. The vessels are expected to be delivered in 2023 and 2024. (See Note 15: Capital Improvements, Newbuildings and Vessel Purchase Deposits). Since the Company's incorporation in 2003 and public listing in 2004, SFL has established itself as a leading international ship and offshore asset owning and chartering company, expanding both its asset and customer base.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Basis of Accounting The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("US GAAP"). The consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Where necessary, comparative figures for previous years have been reclassified to conform to changes in presentation in the current year. Consolidation of variable interest entities A variable interest entity is defined in Accounting Standards Codification ("ASC") Topic 810 "Consolidation" ("ASC 810") as a legal entity where either (a) the total equity at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; (b) equity interest holders as a group lack either i) the power to direct the activities of the entity that most significantly impact on its economic success, ii) the obligation to absorb the expected losses of the entity, or iii) the right to receive the expected residual returns of the entity; or (c) the voting rights of some investors in the entity are not proportional to their economic interests and the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. ASC 810 requires a variable interest entity to be consolidated by its primary beneficiary, being the interest holder, if any, which has both (1) the power to direct the activities of the entity which most significantly impact on the entity's economic performance, and (2) the right to receive benefits or the obligation to absorb losses from the entity which could potentially be significant to the entity. The Company evaluates its subsidiaries, and any other entities in which it holds a variable interest, in order to determine whether the Company is the primary beneficiary of the entity, and where it is determined that the Company is the primary beneficiary the Company fully consolidate the entity. Use of accounting estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue and expense recognition The Company generates its revenues from the charter hire of its vessels and offshore related assets, and freight billings. Revenues are generated from time charter hire, bareboat charter hire, direct financing lease interest income, sales-type lease interest income, leaseback assets interest income, direct financing lease service revenues, profit sharing arrangements, drilling contract revenue, voyage charters and other freight billings. In a time charter voyage, the vessel is hired by the charterer for a specified period of time in exchange for consideration which is based on a daily hire rate. Generally, the charterer has the discretion over the ports visited, shipping routes and vessel speed. The contract/charter party generally provides typical warranties regarding the speed and performance of the vessel. The charter party generally has some owner protective restrictions such that the vessel is sent only to safe ports by the charterer and carries only lawful or non-hazardous cargo. In a time charter contract, we are responsible for all the costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance, lubrication oil and other costs relevant to operate the vessel. The charterer bears the voyage related costs such as bunker expenses, port charges, and canal tolls during the hire period. The performance obligations in a time charter contract are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to us. The charterer generally pays the charter hire in advance of the upcoming contract period. The time charter contracts are either operating or direct financing or sales type leases. Where time charters and bareboat charters are considered operating leases, revenues are recorded over the term of the charter as a service is provided. When a time charter contract is linked to an index, we recognize revenue for the applicable period based on the actual index for that period. Rental payments from direct financing and sales-type leases and leaseback assets are allocated between service revenues, if applicable, interest income and capital repayments. The amount allocated to lease service revenue is based on the estimated fair value, at the time of entering the lease agreement, of the services provided which consist of ship management and operating services. In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage. The consideration in such a contract is determined on the basis of a freight rate per metric ton of cargo carried or occasionally on a lump sum basis. The charterer is responsible for any short loading of cargo or "dead" freight. The voyage charter party generally has standard payment terms with freight paid on completion of discharge. The voyage charter party generally has a "demurrage" clause. As per this clause, the charterer reimburses us for any potential delays exceeding the allowed laytime as per the charter party clause at the ports visited, which is recorded as voyage revenue. Estimates and judgments are required in ascertaining the most likely outcome of a particular voyage and actual outcomes may differ from estimates. Such estimate is reviewed and updated over the term of the voyage charter contract. In a voyage charter contract, the performance obligations begin to be satisfied once the vessel begins loading the cargo. We have determined that our voyage charter contracts consist of a single performance obligation of transporting the cargo within a specified time period. Therefore, the performance obligation is met evenly as the voyage progresses, and the revenue is recognized on a straight line basis over the voyage days from the commencement of loading to completion of discharge. Contract assets with regards to voyage revenues are reported as "Voyages in progress" as the performance obligation is satisfied over time. Voyage revenues typically become billable and due for payment on completion of the voyage and discharge of the cargo, at which point the receivable is recognized as "Trade accounts receivable, net". In a voyage contract, the Company bears all voyage related costs such as fuel costs, port charges and canal tolls. To recognize costs incurred to fulfill a contract as an asset, the following criteria shall be met: (i) the costs relate directly to the contract, (ii) the costs generate or enhance resources of the entity that will be used in satisfying performance obligations in the future and (iii) the costs are expected to be recovered. The costs incurred during the period prior to commencement of loading the cargo, primarily bunkers, are deferred as they represent setup costs and recorded as a current asset and are subsequently amortized on a straight-line basis as we satisfy the performance obligations under the contract. Costs incurred to obtain a contract, such as commissions, are also deferred and expensed over the same period. For our vessels operating under revenue sharing agreements, or in pools, revenues and voyage expenses are pooled and allocated to each pool’s participants in accordance with an agreed-upon formula. Revenues generated through revenue sharing agreements are presented gross when we are considered the principal under the charter parties with the net income allocated under the revenue sharing agreement presented as within voyage charter income. For revenue sharing agreements that meet the definition of a lease, we account for such contracts as variable rate operating leases and recognize revenue for the applicable period based on the actual net revenue distributed by the pool. The activities that primarily drive the revenue earned from our drilling contract primarily includes providing a drilling rig and the crew and supplies necessary to operate the rig, but may also in the future include mobilizing and demobilizing the rig to and from the drill site and performing rig preparation activities and/or modifications required for the contract with a customer. We account for these integrated services as a single performance obligation that is (i) satisfied over time and (ii) comprised of a series of distinct time increments of service. We recognize drilling contract revenues for activities that correspond to a distinct time increment of service within the contract term in the period when the services are performed. We recognize consideration for activities that are (i) not distinct within the context of our contracts and (ii) do not correspond to a distinct time increment of service, ratably over the estimated contract term. We determine the total transaction price for each individual contract by estimating both fixed and variable consideration expected to be earned over the term of the contract. The amount estimated for variable consideration may be constrained and is only included in the transaction price to the extent that it is probable that a significant reversal of previously recognized revenue will not occur throughout the term of the contract. When determining if variable consideration should be constrained, we consider whether there are factors outside of our control that could result in a significant reversal of revenue as well as the likelihood and magnitude of a potential reversal of revenue. We reassess these estimates each reporting period as required. Consideration received for drilling contracts mainly comprises of dayrate drilling revenue which provide for payment on a dayrate basis, with higher rates for periods when the drilling unit is operating and lower rates or zero rates for periods when drilling operations are interrupted or restricted. The dayrate invoices billed to the customer are typically determined based on the varying rates applicable to the specific activities performed on an hourly basis. Such dayrate consideration is allocated to the distinct hourly incremental service it relates to. Revenue is recognized in line with the contractual rate billed for the services provided for any given hour. As detailed in Note 26: Related Party Transactions, the Company has, or has had, profit sharing arrangements with Frontline Shipping Limited ("Frontline Shipping"), and Golden Ocean Group Limited ("Golden Ocean"). In addition, the Company's charter agreements relating to seven containerships chartered to Maersk on a time charter basis include an arrangement where we receive a share of the fuel savings, dependent on the price difference between IMO compliant fuel and IMO non-compliant fuel that is subsequently made compliant by the scrubbers. Also, scrubber savings revenue is earned from one newly purchased car carrier, Arabian Sea . The vessel was purchased with a pre-existing time charter contract with EUKOR Car Carriers Inc. (“Eukor”) that has a profit share mechanism between the owners and the charterer. As a result, SFL is entitled to a share of the difference between the prices paid and the plats bunker prices at the time and place of bunkering. Amounts receivable under these arrangements are accrued on the basis of amounts earned at the reporting date. Any contingent elements of rental income, such as profit share, fuel saving payments and interest rate adjustments, are recognized when the contingent conditions have materialized. Foreign currencies The Company's functional currency is the U.S. dollar as the majority of revenues are received in U.S. dollars and the majority of the Company's expenditures are made in U.S. dollars. The Company's reporting currency is also the U.S. dollar. Most of the Company's subsidiaries report in U.S. dollars. Transactions in foreign currencies during the year are translated into U.S. dollars at the rates of exchange in effect at the date of the transaction. Foreign currency monetary assets and liabilities are translated using rates of exchange at the balance sheet date. Foreign currency non-monetary assets and liabilities are translated using historical rates of exchange. Foreign currency transaction gains or losses are included under "Other financial items" in the consolidated statements of operations. Cash and cash equivalents For the purposes of the consolidated statements of cash flows, all demand and time deposits and highly liquid, low risk investments with original maturities of three months or less are considered equivalent to cash. Restricted cash Restricted cash consists of cash which may only be used for certain purposes and is held under a contractual arrangement. The Company classifies restricted cash as short-term and a current asset if the cash is restricted for less than a year. Otherwise, the restricted cash is classified as long-term. Investment in debt and equity securities Investments in debt and equity securities include share investments and interest-earning listed and unlisted corporate bonds. Any premium paid on their acquisition is amortized over the life of the bond. Investments in debt securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of other comprehensive income. Investments in equity securities are recorded at fair value, with unrealized gains and losses recorded in the consolidated statement of operations. If circumstances arise which lead the Company to believe that the issuer of a corporate bond may be unable to meet its payment obligations in full, or that the fair value at acquisition of the share investment or corporate bond may otherwise not be fully recoverable, then to the extent that a loss is expected to arise that unrealized loss is recorded as an impairment in the statement of operations, with an adjustment if necessary to any unrealized gains or losses previously recorded in other comprehensive income. In determining whether the Company has an other-than-temporary impairment in its investment in bonds, in addition to the Company’s intention and ability to hold the investments until the market recovers, the Company considers the period of decline, the amount and the severity of the decline and the ability of the investment to recover in the near to medium term. The Company also evaluates if the underlying security provided by the bonds is sufficient to ensure that the decline in fair value of these bonds did not result in an other-than-temporary impairment. The cost of disposals or reclassifications from other comprehensive income is calculated on an average cost basis, where applicable. The fair value of unlisted corporate bonds is determined from an analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the bonds, credit ratings and default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market. Investments in associated companies Investments in affiliates in which the Company has significant influence but does not exercise control are accounted for using the equity method of accounting. Under the equity method, the Company records its investments in equity-method investees on the consolidated balance sheets as "Investment in associated companies" and its share of the nonconsolidated affiliate's income or loss is recognized in the consolidated statement of operations as "Equity in earnings of associated companies". The cumulative post-acquisition changes in the investment are adjusted against the carrying amount of the investment. On December 31, 2020, the Company sold 50.1% of the shares of River Box Holding Inc. (“River Box”) to a subsidiary of Hemen, a related party. The Company has accounted for its remaining 49.9% ownership in River Box using the equity method from this date. (See Note 19: Investment in Associated Companies). Allowance for expected credit losses The balances recorded in respect of T rade receivables, Other receivables, Related party receivables, Other long term assets and Investments in sales-type leases, direct financing leases and leaseback assets reflect the risk that our customers may fail to meet their payment obligations and the risk that the underlying asset value of the vessels and rigs could be less than the unguaranteed residual value. The Company estimates the expected risk of loss over the remaining life using a probability of default and net exposure analysis. The probability of default is estimated based on historical cumulative default data, adjusted for current conditions of similarly risk-rated counterparties over the contractual term. The net exposure is estimated based on the exposure, net of the estimated value of the underlying vessels and rigs in the instance of Investments in sales-type leases, direct financing leases and leaseback assets , over the contractual term. Current expected credit loss provisions are classified as expenses in the Consolidated Statement of Operations, with a corresponding allowance for credit loss amount reported as a reduction in the related balance sheet amount of Tr ade receivables, Other receivables, Related party receivables, Other long term assets and Investments in sales-type leases, direct financing leases and leaseback assets . Partial or full recoveries of amounts previously written off are generally recognized as a reduction in the provision for credit losses. Trade accounts receivable The amount shown as trade accounts receivable at each balance sheet date includes receivables due from customers for hire of vessels and offshore related assets, net of allowance for expected credit losses. Inventories Inventories are comprised principally of fuel and lubricating oils and are stated at the lower of cost and net realizable value. Cost is determined on a first-in first-out basis. Vessels, rigs and equipment (including operating lease assets) Vessels, rigs and equipment are recorded at historical cost less accumulated depreciation and, if appropriate, impairment charges. The cost of these assets less estimated residual value is depreciated on a straight-line basis over the estimated remaining economic useful life of the asset. The estimated economic useful life of our offshore drilling rigs is 30 years and for all other vessels it is 25 years. Where an asset is subject to an operating lease that includes fixed price purchase options, the projected net book value of the asset is compared to the option price at the various option dates. If any option price is less than the projected net book value at an option date, the initial depreciation schedule is amended so that the carrying value of the asset is written down on a straight line basis to the option price at the option date. If the option is not exercised, this process is repeated so as to amortize the remaining carrying value, on a straight line basis, to the estimated recycling value or the option price at the next option date, as appropriate. This accounting policy for fixed assets has the effect that if an option is exercised there will be either a) no gain or loss on the sale of the asset or b) in the event that the option is exercised at a price in excess of the net book value at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners, under the heading "gain on sale of assets". The Company capitalizes and depreciates the costs of significant replacements, renewals and upgrades to its vessels over the shorter of the vessel’s remaining useful life or the life of the renewal or upgrade. The amount capitalized is based on management’s judgment as to expenditures that extend a vessel’s useful life or increase the operational efficiency of a vessel. Costs that are not capitalized are recorded as a component of direct vessel operating expenses during the period incurred. Expenses for routine maintenance and repairs are expensed as incurred. Advances paid in respect of vessel upgrades in relation to Exhaust Gas Cleaning Systems ("EGCS" or "scrubbers") and Ballast water treatment systems ("BWTS") are included within "Capital improvements, newbuildings and vessel purchase deposits,", until such time as the equipment is installed on a vessel, at which point it is transferred to "Vessels, rigs and equipment, net". Office equipment is depreciated at 20% per annum on a reducing balance basis. Vessels and equipment under finance lease The Company charters-in certain vessels and equipment under leasing agreements. Leases of vessels and equipment, where the Company has substantially all the risks and rewards of ownership, are classified as "vessels under finance lease", with corresponding lease liabilities recorded. The Company capitalizes and depreciates the costs of significant replacements, renewals and upgrades to its vessels over the shorter of the vessel’s remaining useful life or the life of the renewal or upgrade. The amount capitalized is based on management’s judgment as to expenditures that extend a vessel’s useful life or increase the operational efficiency of a vessel. Costs that are not capitalized are recorded as a component of direct vessel operating expenses during the period incurred. Expenses for routine maintenance and repairs are expensed as incurred. Advances paid in respect of vessel upgrades in relation to EGCS and BWTS are included within "Capital improvements, newbuildings and vessel purchase deposits", until such time as the equipment is installed on a vessel, at which point it is transferred to "Vessels under finance lease, net". Depreciation of vessels and equipment under finance lease is included within "Depreciation" in the consolidated statement of operations. Vessels and equipment under finance lease are depreciated on a straight-line basis over the vessels' remaining economic useful lives or on a straight-line basis over the term of the lease. The method applied is determined by the criteria by which the lease has been assessed to be a finance lease. Newbuildings The carrying value of vessels under construction ("newbuildings") represents the accumulated costs to the balance sheet date which the Company has paid by way of purchase installments and other capital expenditures together with capitalized loan interest and associated finance costs. No charge for depreciation is made until a newbuilding is put into operation. Capitalized interest Interest expense is capitalized during the period of construction of newbuilding vessels based on accumulated expenditures for the applicable vessel at the Company's capitalization rate of interest. The amount of interest capitalized in an accounting period is determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the vessel during the period. The capitalization rate used in an accounting period is based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period. In the year ended December 31, 2022, $2.7 million interest was capitalized in the cost of newbuildings (2021: $0.4 million; 2020: $0.0 million). Investment in sales-type leases and direct financing leases Leases (charters) of our vessels where we are the lessor are classified as either direct financing, sales-type leases, operating leases, or leaseback assets based on an assessment of the terms of the lease. For charters classified as direct financing leases, the minimum lease payments (reduced in the case of time chartered vessels by projected vessel operating costs) plus the estimated residual value of the vessel are recorded as the gross investment in the direct financing lease. For direct financing leases, the difference between the gross investment in the lease and the carrying value of the vessel is recorded as unearned lease interest income. The net investment in the lease consists of the gross investment less the unearned income. Over the period of the lease each charter payment received, net of vessel operating costs if applicable, is allocated between "lease interest income" and "repayment of investment in lease" in such a way as to produce a constant percentage rate of return on the balance of the net investment in the direct financing lease. Thus, as the balance of the net investment in each direct financing lease decreases, a lower proportion of each lease payment received is allocated to lease interest income and a greater proportion is allocated to lease repayment. For direct financing leases relating to time chartered vessels, the portion of each time charter payment received that relates to vessel operating costs is classified as "service revenue - direct financing leases". For sales-type leases, the difference between the gross investment in the lease and the present value of its components, i.e. the minimum lease payments and the estimated residual value, is recorded as unearned lease interest income. The discount rate used in determining the present values is the interest rate implicit in the lease. The present value of the minimum lease payments, computed using the interest rate implicit in the lease, is recorded as the sales price, from which the carrying value of the vessel at the commencement of the lease is deducted in order to determine the profit or loss on sale. As is the case for direct financing leases, the unearned lease interest income is amortized to income over the period of the lease so as to produce a constant periodic rate of return on the net investment in the lease. The difference between the fair value of the leased asset and the costs results in a selling profit or loss. A selling profit is recognized at lease commencement for sales-type leases and over the lease term for direct financing leases. Selling loss is recognized at lease commencement for both sales-type and direct financing leases. The fair value is considered to be the cost of acquiring the vessel unless a significant period has elapsed between the acquisition of the vessel and the commencement of the lease. Where a sales-type lease, direct financing lease or leaseback asset charter arrangement containing fixed price purchase options, the projected carrying value of the net investment in the lease is compared to the option price at the various option dates. If any option price is less than the projected net investment in the lease at an option date, the rate of amortization of unearned lease interest income is adjusted to reduce the net investment to the option price at the option date. If the option is not exercised, this process is repeated so as to reduce the net investment in the lease to the un-guaranteed residual value or the option price at the next option date, as appropriate. This accounting policy for investments in direct financing or sales-type leases or leaseback assets has the effect that if an option is exercised there will either be a) no gain or loss on the exercise of the option or b) in the event that an option is exercised at a price in excess of the net investment in the lease at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners. If the terms of an existing lease are agreed to be amended, the modification is evaluated to consider if it is a contract which occurs when the modification grants the lessee an additional right-of-use not included in the original lease and the lease payments increase commensurate with the standalone price for the additional right of use, adjusted for the circumstances of the particular contract. If both conditions are met, the amendments are treated as a separate lease. If the conditions are not met, the lease is re-evaluated under ASC 842, as a new lease with the new terms. Leaseback assets Any vessels purchased and leased back to the same party are evaluated under sale and leaseback accounting guidance contained in ASC 842 to determine whether it is appropriate to account for the transaction as a purchase of an asset. If control is deemed not to have passed to the Company as purchaser, due for example to the lessee having purchase options, the transaction is accounted for under ASC 310 where the purchase price paid is accounted for as loan receivable and described as a "leaseback asset". Interest income is recognized on the aggregate loan receivable based on the imputed interest rate and the part of the rental income received is allocated as a reduction of the vessel loan balance. Finance lease liability and Lease debt financing Similar to the Leaseback assets above, any vessels sold and leased back from the same party are also evaluated under sale and leaseback accounting guidance contained in ASC 842 to determine whether it is appropriate to account for the transaction as a sale of an asset. If control is deemed not to have passed to the buyer, it is deemed as "a failed sale and leaseback transaction" and the Company accounts for the transaction as a financing arrangement and describes this as "lease debt financing". The Company does not derecognize the underlying vessel and continue to depreciate the asset. The sales proceeds received from the buyer-lessor are recorded as a financial liability. Charter hires paid by the Company to the buyer-lessor are allocated between interest expense and principal repayment of the financial liability. Furthermore, the Company charters-in seven container vessels through sale and leaseback financing arrangements, under previously adopted ASC 840, with corresponding lease assets classified as "vessels under finance lease". Leases of vessels and equipment, where the Company has substantially all the risks and rewards of ownership, are classified as finance lease liabilities. Each lease payment is allocated between reduction in liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the Consolidated Statements of Operations over the lease period. Impairment of long-lived assets, including other long-term investments The carrying value of long-lived assets, including other long-term investments, that are held by the Company are reviewed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For vessels, such indicators may include historically low spot charter rates and second hand vessel values. The Company assesses recoverability of the carrying value of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition, taking into account the possibility of any existing medium and long-term charter arrangements being terminated early. If the future expected net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the carrying value of the asset and its fair value. In addition, long-lived assets to be disposed of are reported at the lower of carrying amount and fair value less estimated costs to sell. Fair value is generally based on values achieved for the sale/purchase of similar vessels and external appraisals. Deferred charges Loan costs, including debt arrangement fees, are capitalized and amortized on a straight line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method in the Company's statement of operations. Amortization of loan costs is included in interest expense. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Similarly, if a portion of a loan is repaid early, the corresponding portion of the unamortized related deferred charges is charged against income in the period in which the early repayment is made. Convertible bonds Through December 31, 2021, the Company separately accounted for the liability and equity components of the Convertible Notes at issuance. The debt issuance costs related to the issuance of the Convertible Notes were also previously allocated to the liabilit

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS The following is a brief discussion of a selection of recently released accounting pronouncements that are pertinent to the Company's business: In March 2022, the Financial Accounting Standards Board ("FASB") issued ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02"). The amendments in this ASU eliminate the accounting guidance for troubled debt restructurings ("TDRs") by creditors in Subtopic 310-40, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. The amendments are effective for the Company beginning after December 15, 2022. As of the year ended December 31, 2022 the Company does not expect the changes prescribed in ASU 2022-02 to have a material impact on its consolidated financial position, results of operations or cash flows, however, the Company will re-evaluate the amendments based on the facts and circumstances at the time of implementation of the guidance. In October 2021, the FASB issued ASU No. 2021-08, "'Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers" ("ASU 2021-08"). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2022, and are applied prospectively to business combinations that occur after the effective date. The Company will evaluate these amendments based on the facts and circumstances of any future business combinations. In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"). Accounting Standards Codification (“ASC”) 848 provided temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to reduce the financial reporting burden in light of the market transition from London Interbank Offered Rates (“LIBOR”) and other reference interest rates to alternative reference rates. Under ASC 848, companies can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. An entity that makes this election would not be required to remeasure the contracts at the modification date or reassess a previous accounting determination. The amendments of ASC 848 apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In January 2021, the FASB issued ASU No. 2021-01 "Reference Rate Reform (Topic 848): Scope" ("ASU 2021-01"), which clarified the scope of Topic 848 in relation to derivative instruments and contract modifications. The amendments in these updates are elective and are subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. In December 2022, the FASB issued ASU No. 2022-06 "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" ("ASU 2022-06"). The amendments in this ASU extend the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. To ensure the relief in Topic 848 covers the period of time during which a significant number of modifications may take place, the ASU defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in these updates are effective for all entities from March 12, 2020 through to December 31, 2022. The Company has determined that the reference rate reform will impact its floating rate debt facilities and interest rate swaps contracts. In order to preserve the presentation of derivatives consistent with past presentation, the Company expects to take advantage of the expedients and exceptions provided by the ASUs when LIBOR is discontinued and replaced with alternative reference rates.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has only one reportable segment. The Company's assets operate on a world-wide basis and the Company's management does not evaluate performance by geographical region or by asset type, as they believe that any such information would not be meaningful.

TAXATION

TAXATION	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
TAXATION	TAXATION Bermuda Under current Bermudan law, the Company is not required to pay taxes in Bermuda on either income or capital gains. The Company has received written assurance from the Minister of Finance in Bermuda that, in the event of any such taxes being imposed, the Company will be exempted from taxation until the year 2035. United States The Company does not accrue U.S. income taxes as, in the opinion of U.S. counsel, the Company is not engaged in a U.S. trade or business and is exempted from a gross basis tax under Section 883 of the U.S. Internal Revenue Code. A reconciliation between the income tax expense resulting from applying statutory income tax rates and the reported income tax expense has not been presented herein, as it would not provide additional useful information to users of the financial statements as the Company's net income is subject to neither Bermuda nor U.S. tax. Other Jurisdictions Certain of the Company's subsidiaries and branches in Norway, Singapore, Cyprus and the United Kingdom are subject to income tax in their respective jurisdictions. The tax paid by subsidiaries of the Company that are subject to income tax is not material.

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE	EARNINGS (LOSS) PER SHARE The computation of basic earnings (loss) per share ("EPS") is based on the weighted average number of shares outstanding during the year and the consolidated net income or loss of the Company. Diluted EPS includes the effect of the assumed conversion of potentially dilutive instruments. In the computation of the diluted EPS, the dilutive impact of the Company’s stock options is calculated using the "treasury stock" guidelines and the "if-converted" method is used for convertible securities. The components of the numerator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands of $) 2022 2021 2020 Basic earnings (loss) per share: Net income/(loss) available to stockholders 202,768 164,343 (224,425) Diluted earnings (loss) per share: Net income/(loss) available to stockholders 202,768 164,343 (224,425) Interest and other expenses/(gains) attributable to convertible notes 7,501 16,166 — Net income/(loss) assuming dilution 210,269 180,509 (224,425) The components of the denominator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands) 2022 2021 2020 Basic earnings per share: Weighted average number of common shares outstanding* 126,789 122,141 108,972 Diluted earnings per share: Weighted average number of common shares outstanding* 126,789 122,141 108,972 Effect of dilutive share options 112 — — Effect of dilutive convertible notes 10,476 17,242 — Weighted average number of common shares outstanding assuming dilution 137,377 139,383 108,972 Year ended December 31, 2022 2021 2020 Basic earnings/(loss) per share: $ 1.60 $ 1.35 $ (2.06) Diluted earnings/(loss) per share: $ 1.53 $ 1.30 $ (2.06) *The weighted average number of common shares outstanding excludes 8,000,000 shares initially issued and loaned as part of a share lending arrangement originally relating to the Company's issuance of 5.75% senior unsecured convertible bonds in October 2016. After the maturity of these bonds, the Company entered into a general share lending agreement with another counterparty and the 8,000,000 shares were transferred into its custody. The weighted average number of common shares outstanding also excludes 3,765,842 shares issued as of December 31, 2022 from up to 7,000,000 shares issuable under a share lending arrangement relating to the Company's issuance of 4.875% senior unsecured convertible bonds in April and May 2018. These 3,765,842 shares, which were issued and loaned, are owned by the Company and are to be returned on or before maturity of the bonds in 2023, pursuant to the terms of the applicable share lending arrangement, although the Company may enter into additional lending arrangements in respect of these shares upon the maturity of the existing lending arrangement. (See also Note 24: Share Capital, Additional Paid-In Capital and Contributed Surplus). In October 2021, the Company redeemed the full amount outstanding under the 5.75% senior unsecured convertible bonds due 2021. The remaining outstanding principal amount of $144.7 million was fully satisfied in cash. During the year ended December 31, 2021, the Company purchased bonds with principal amounts totaling $67.6 million from the 5.75% senior unsecured convertible bonds due 2021. As of December 31, 2021, the principal amounts of the repurchased bonds were anti-dilutive, assuming if converted, at the start of the period. As of December 31, 2020, the outstanding balances on the 4.875% senior unsecured convertible bonds issued in April and May 2018 and the 5.75% senior unsecured convertible bonds issued in October 2016 were both anti-dilutive.

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES Rental income The minimum future revenues to be received under the Company's non-cancelable operating leases on its vessels as of December 31, 2022, are as follows: Year ending December 31, (in thousands of $) 2023 491,809 2024 379,932 2025 210,439 2026 213,003 2027 142,044 Thereafter 103,202 Total minimum lease revenues 1,540,429 The minimum future revenues above are based on payments receivable from the charterers and do not include contingent rental income. Revenues included in income are recognized on a straight-line basis. Contingent rental income The Company receives contingent income as part of the agreement for the installation of scrubbers on seven container vessels and one car carrier (2021: seven container vessels), which are on time charter contracts, accounted for as operating leases, based on the cost savings achieved by the charterer on fuel arising from using the scrubbers. During the year ended December 31, 2022, the Company recorded an income of $24.8 million in connection with the cost savings agreement (December 31, 2021: $10.6 million). The cost and accumulated depreciation of vessels (owned and under finance leases) leased to third parties on non-cancelable operating leases as of December 31, 2022 and 2021 were as follows: (in thousands of $) 2022 2021 Cost 3,062,551 3,393,588 Accumulated depreciation (614,698) (610,622) Total 2,447,853 2,782,966

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE FROM CONTRACTS WITH CUSTOMERS The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: (in thousands of $) 2022 2021 Trade accounts receivable from contracts with customers, net (1) 10,209 1,505 Contract assets, current (2) 10,102 1,958 Contract liabilities, current (2) (1,585) (115) (1) Trade accounts receivable from contracts with customers, net, relate to receivables from drilling contracts, voyage charter receivables and demurrage receivables, net of allowance for expected credit losses. The expected credit losses relating to trade accounts receivable from contracts with customers was $0.3 million as of December 31, 2022 (2021: $0.1 million). (See also Note 13: Trade Accounts Receivable and Other Receivables and Note 28: Allowance for Expected Credit Losses). (2) Contract assets, current, and contract liabilities, current are included in "Prepaid expenses and accrued income" and "Other current liabilities", respectively, in the Consolidated Balance Sheets. Contract assets and liabilities are settled within 30 to 45 days of the balance sheet date. As of December 31, 2022 and December 31, 2021, there were no fees received in respect of mobilization or demobilization of the drilling rigs for inclusion in contract revenues or liabilities.

GAIN ON SALE OF ASSETS AND TERM

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	12 Months Ended
	Dec. 31, 2022
Component of Operating Income [Abstract]
GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS	GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS The Company has recorded gains on sale of assets as follows: Year ended December 31, (in thousands of $) 2022 2021 2020 Gain on sale of vessels 13,228 39,405 2,250 During the year ended December 31, 2022, the two VLCCs, Front Energy and Front Force , which were previously accounted for as direct financing leases, were sold to an unrelated third party. A gain of $1.5 million was recorded on the disposal of the vessels. The Company received net sale proceeds of $65.4 million and an additional compensation payment of $4.5 million from Frontline Shipping for the early termination of the corresponding charters. (See Note 26: Related Party Transactions). Also, during the year ended December 31, 2022, the 1,700 twenty-foot equivalent unit (“TEU”) container vessel, MSC Alice , which was previously accounted for as a sales-type lease, was sold and delivered to Mediterranean Shipping Company S.A. and its affiliate Conglomerate Shipping Ltd. (collectively “MSC”) following execution of the applicable purchase obligation in the charter contract. The Company received proceeds totaling $13.5 million and recognized a net gain of $11.7 million on the disposal. During the year ended December 31, 2021, 18 feeder container vessels, which were accounted for as direct financing leases and three feeder container vessels which were accounted for as leaseback assets, were sold to an unrelated party. The Company received net sale proceeds of $82.0 million and recorded a gain of $0.6 million on disposal of these vessels during the year ended December 31, 2021. Also during the year ended December 31, 2021, seven Handysize dry bulk carriers, which were accounted for as operating lease assets, were sold to an unrelated third party for total net sale proceeds of $97.7 million. A gain of $39.3 million was recorded on the disposal during the year ended December 31, 2021. The drilling unit West Taurus , which was accounted for as an operating lease asset, was sold for recycling to a ship recycling facility in Turkey during the year ended December 31, 2021. A loss of $0.6 million was recorded on recycling during the year ended December 31, 2021. The wholly owned subsidiary owning the rig (SFL Deepwater Ltd) was initially accounted for using the equity method. In October 2020, the subsidiary ceased to be accounted for as an associate and became consolidated. (See Note 19: Investment in Associated Companies and Note 26: Related Party Transactions). During the year ended December 31, 2020, the VLCC Front Hakata, which was accounted for as a direct financing lease asset, was sold to an unrelated third party. A gain of $1.4 million was recorded on the disposal. The Company received net sale proceeds of $30.3 million, net of $3.2 million compensation paid for early termination of the charter. (See Note 26: Related Party Transactions). The four offshore support vessels Sea Cheetah, Sea Jaguar, Sea Halibut and Sea Pike, which were accounted for as operating lease assets, were sold to an unrelated third party for total net sale proceeds of $4.3 million. A gain of $0.9 million was recorded on the disposal during the year ended December 31, 2020. The offshore support vessel Sea Leopard, which was accounted for as a direct financing lease asset, was sold to an unrelated third party for recycling and a loss of $0.03 million was recorded on the disposal during the year ended December 31, 2020. The VLCCs Hunter Atla, Hunter Saga and Hunter Laga,

GAIN ON SALE OF SUBSIDIARIES

GAIN ON SALE OF SUBSIDIARIES	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
GAIN ON SALE OF SUBSIDIARIES	GAIN ON SALE OF SUBSIDIARIES No subsidiaries were sold during the years ended December 31, 2022 and December 31, 2021. River Box was a previously wholly owned subsidiary of the Company. It 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 . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen Holding Limited ("Hemen"), a related party. Net proceeds of $17.5 million were received for the shares, resulting in a net gain of $1.9 million on the sale. At the time of disposal on December 31, 2020, the consolidated net assets held by River Box were as follows: (in thousands of $) 2020 Cash and cash equivalents 2,859 Investments in sales-type and direct financing leases 540,908 Finance lease liability (464,740) Long-term loan from related party (45,000) Other current liabilities (2,861) Net assets 31,166 As of December 31, 2022 the balance of the long-term loan from SFL to River Box was $45.0 million (2021: $45.0 million). (See Note 26: Related Party Transactions). The Company has accounted for the remaining 49.9% ownership in River Box using the equity method. (See Note 19: Investment in Associated Companies).

OTHER FINANCIAL ITEMS, NET

OTHER FINANCIAL ITEMS, NET	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
OTHER FINANCIAL ITEMS, NET	OTHER FINANCIAL ITEMS, NET Other financial items comprise the following items: Year ended December 31, (in thousands of $) 2022 2021 2020 Net payments on non-designated derivatives relating to interest rate swaps (341) (6,707) (4,575) Net payments on non-designated derivatives relating to cross currency swaps (7) (8) (6) Net payments on non-designated derivatives relating to combined cross currency and interest rate swaps — — (152) Net payments relating to the settlement of interest rate swaps following the refinancing of debt — — (4,539) Total net cash movement on non-designated derivatives and swap settlements (348) (6,715) (9,272) Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to interest rate swaps 17,202 11,607 (15,314) Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to cross currency swaps (60) (16) 5 Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to combined cross currency and interest rate swaps — — (5,124) Total net movement in fair value of non-designated derivatives 17,142 11,591 (20,433) Allowance for expected credit losses 522 722 (1,771) Other items (1,788) 1,085 5,531 Total other financial items, net 15,528 6,683 (25,945) The net movement in the fair values of non-designated derivatives and net cash payments thereon relate to non-designated, terminated or de-designated interest rate swaps, cross currency interest rate swaps and cross currency swaps. Changes in the fair values of the effective portion of interest rate swaps that are designated as cash flow hedges are reported under "Other comprehensive income". The above net movement in the valuation of non-designated derivatives in the year ended December 31, 2022, includes $0.0 million (2021 : $0.0 million; 2020 : $1.1 million ) reclassified from "Other comprehensive income", as a result of certain interest rate swaps relating to loan facilities no longer being designated as cash flow hedges. In the year ended December 31, 2021 , other items included an equity distribution of $2.6 million from the Norwegian Shipowners’ Mutual War Risks Insurance Association ("DNK"). The total equity distribution paid by DNK to its members was made in proportion to premiums paid over a 10-year period. Following the adoption of ASU 2016-13 "Financial Instruments - Credit Losses" from January 2020, the Company now recognizes, among other things, a measurement of expected credit losses for financial assets held at the reporting date which are within the scope of the ASU, based on historical experience, current conditions and reasonable supportable forecasts. During the year ended December 31, 2020 , the Company recorded a credit loss provision of $1.8 million in the Consolidated Statement of Operations, with a corresponding allowance for credit loss amount reported as a reduction in the related balance sheet amount of Trade receivables, Other receivables, Related party receivables, Other long term assets and Investments in sales-type leases, direct financing leases and leaseback assets. During the year ended December 31, 2022, the Company recorded a decrease in the credit loss provision of $0.5 million (2021: $0.7 million). (See Note 28: Allowance for Expected Credit Losses). In February 2016, the offshore support vessel Sea Bear, then chartered to a subsidiary of Deep Sea Supply (“Deep Sea”) was sold and its lease canceled. An agreed termination fee was received in the form of a loan note from Deep Sea, receivable over the approximately six remaining years of the canceled lease. In June 2017, Deep Sea completed a merger with Solstad Offshore ASA and Farstad Shipping ASA, creating Solstad Farstad ASA. In October 2018, Solstad Farstad ASA changed its name to Solstad Offshore ASA ("Solstad"). On October 20, 2020, Solstad held an extraordinary general meeting to approve its proposed debt restructuring to partly compensate stakeholders for prior losses incurred in connection with their failure to meet obligations on certain loans and lease agreements. SFL received 4.4 million shares in Solstad and cash compensation of NOK10 million ($1.1 million) which is included in other items above. The shares were subsequently sold by the Company and a gain on the sale of shares of $2.6 million was recorded in the Statement of Operations in the year ended December 31, 2020. Other items in the year ended December 31, 2022, include a net loss of $0.7 million arising from foreign currency translations (2021: loss of $0.4 million; 2020: gain of $5.6 million). Other items also include bank charges and fees relating to loan facilities.

INVESTMENTS IN DEBT AND EQUITY

INVESTMENTS IN DEBT AND EQUITY SECURITIES	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN DEBT AND EQUITY SECURITIES	INVESTMENTS IN DEBT AND EQUITY SECURITIES Marketable securities held by the Company consist of corporate bonds and equity securities. (in thousands of $) 2022 2021 Corporate Bonds Balance at start of the year 9,680 9,431 Disposals during the year (14,239) — Additions during the year — 1,350 Unrealized (loss)/gain recorded in other comprehensive income (631) (284) Realized gain/(loss)* 5,190 — Accumulated other-than-temporary impairment* — (817) Balance at end of the year — 9,680 2022 2021 Equity Securities Balance at start of the year 11,530 19,374 Disposals during the year (17,422) (9,608) Unrealized gain /(loss)* 8,389 1,087 Realized gain* 4,592 725 Foreign currency translation loss 194 (48) Balance at the end of year 7,283 11,530 Total Investment in Debt and Equity Securities 7,283 21,210 Equity Securities pledged to creditors — 10,238 *Balances included in "Gain/(loss) on investments in debt and equity securities" in the Consolidated Statements of Operations. Corporate Bonds The corporate bonds are classified as available-for-sale securities and are recorded at fair value, with unrealized gains and losses recorded as a separate component of "Other comprehensive income". Year ended December 31, 2022 Year ended December 31, 2021 (in thousands of $) Amortised Cost Unrealised gains/ (losses)* Fair value Amortised Cost Unrealised gains/ (losses)* Fair value NorAm Drilling — — — 4,132 487 4,619 NT Rig Holdco 12% — — — 4,917 144 5,061 NT Rig Holdco 7.5% — — — — — — Total corporate bonds — — — 9,049 631 9,680 NorAm Drilling Company AS ("NorAm Drilling") During the year ended December 31, 2022, the Company received an aggregate amount of $4.7 million from the redemption of NorAm Drilling bonds and recorded no gain or loss on redemption of the bonds. The accumulated gain of $0.5 million previously recognized in other comprehensive income was recognized in the Consolidated Statements of Operations. Oro Negro Drilling Pte. Ltd ("Oro Negro") and NT Rig Holdco ("NT Rig Holdco") During the year ended December 31, 2020, the existing Oro Negro 12% Bonds and Oro Negro 7.5% Bonds were restructured by the issuer thereby resulting in the recognition of NT Rig Holdco Liquidity 12% Bonds and NT Rig Holdco 7.5% Bonds, and redemption of all the Oro Negro 12% Bonds and a substantial proportion of the Oro Negro 7.5% Bonds. The Company recorded no gain or loss on redemption of the bonds. The accumulated gain of $0.1 million previously recognized in the C onsolidated Statement of Operations in respect of the Oro Negro 12% Bonds was reversed. During the year ended December 31, 2021, the Company acquired additional NT Rig Holdco Liquidity 12% Bonds for a total purchase price of $1.4 million (2020: $1.3 million). Also during the year ended December 31, 2021, an aggregate impairment loss o f $0.8 million (2020: $4.3 million) was recorded in the Consolidated Statements of Operations in relation to the NT Rig Holdco 7.5% Bonds. In the year ended December 31, 2021, the Company recognized an unrealized loss of $0.3 million (2020: gain $0.4 million) in respect of the NT Rig Holdco 12% Bonds and an unrealized gain of $0.0 million (2020: $0.0 million) in respect of the NT Rig Holdco 7.5% Bonds. During the year ended December 31, 2022, the Company received an aggregate amount of $9.6 million from the redemption of NT Rig Holdco Liquidity 12% bonds and NT Rig Holdco 7.5% bonds, following the sale of five jack-up rigs by NT Rig Holdco. A realized gain of $4.7 million was recognized in the Consolidated Statements of Operations in relation to the redemption of the bonds. Equity Securities Changes in the fair value of equity investments are recognized in net income. (in thousands of $) 2022 2021 Frontline* — 10,238 NorAm Drilling 7,283 1,292 Total shares 7,283 11,530 * As of December 31, 2022, the carrying value of the shares held in Frontline plc (formerly Frontline Limited) (“Frontline”) pledged to creditors is $0.0 (2021: $10.2 million). Frontline Shares In December 2019, the Company entered into a forward contract to repurchase 3.4 million shares of Frontline, a related party, for $36.8 million in June 2020. During the year ended December 31, 2020, the Company repurchased and simultaneously sold approximately 2.0 million shares in Frontline for total proceeds of $21.1 million and recorded gains of $2.3 million in the Consolidated Statements of Operations in respect of the sales. The Company renewed the forward contract continuously from 2019 until September 2022. During the year ended December 31, 2022, the Company had a forward contract to repurchase 1.4 million shares ( 2021 : 1.4 million shares) of Frontline, at a repurchase price of $16.7 million ( 2021 : $16.4 million) including accrued interest. The transaction was accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability recorded within debt. In September 2022, the Company settled the forward contract in full and recorded the sale of the 1.4 million shares and extinguishment of the corresponding debt of $15.6 million. A net gain of $4.6 million was recognized in the Statement of Operations in respect of the settlement. (See also Note 22: Short-Term and Long-Term Debt, Note 26: Related Party Transactions and Note 29: Commitments and Contingent Liabilities). Prior to the settlement, the Company had recognized a fair value adjustment gain of $2.6 million in the year ended December 31, 2022, (2021: gain $1.2 million; 2020: loss $16.0 million) in the Consolidated Statements of Operations. NorAm Drilling As of December 31, 2022 the Company held approximately 1.3 million shares (2021: 1.3 million) in NorAm Drilling which trade in the Norwegian Over the Counter market ("OTC"). The Company recognized a mark to market gain of $5.8 million (2021: loss $0.1 million, 2020: loss $2.5 million) in the Statement of Operations in the year ended December 31, 2022, together with a foreign exchange gain of $0.2 million (2021: loss $0.0 million; 2020: loss $0.3 million) in Other Financial Items in the Statement of Operations. (See also Note 26: Related Party Transactions). ADS Maritime Holding In 2018 the Company had acquired 4 million shares in ADS Maritime Holding Plc, formerly known as ADS Crude Carriers Plc (“ADS Maritime Holding”) for a total consideration of $10.0 million. (See Note 26: Related Party Transactions). In the year ended December 31, 2021, the Company recognized a mark to market gain of $0.0 million (2020: loss $3.9 million) in the Statement of Operations, along with a foreign exchange gain of $0.0 million (2020: loss $0.4 million) in Other Financial Items in the Statement of Operations. In March 2021, the Company received a capital dividend of approximately $8.8 million from ADS Maritime Holding following the sale of its remaining two vessels. Also in March 2021, the Company sold its remaining shares in ADS Maritime Holding for a consideration of approximately $0.8 million, recognizing a gain of $0.7 million on disposal.

TRADE ACCOUNTS RECEIVABLE AND O

TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES	TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES Trade accounts receivable Trade accounts receivable are presented net of the allowances for doubtful debts and expected credit losses. The allowance for expected credit losses relating to trade accounts receivable was $0.3 million as of December 31, 2022 (2021: $0.1 million). As of December 31, 2022, the Company has no reason to believe that any remaining amount included in trade accounts receivable will not be recovered through due process or negotiation. (See also Note 28: Allowance for Expected Credit Losses). Other receivables Other receivables, mainly include amounts due from vessel managers and claims receivable, which are presented net of the allowance for expected credit losses. The allowance for expected credit losses relating to other receivables was $0.9 million as of December 31, 2022 (2021: $0.5 million). (See also Note 28: Allowance for Expected Credit Losses).

VESSELS, RIGS AND EQUIPMENT, NE

VESSELS, RIGS AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
VESSELS, RIGS AND EQUIPMENT, NET	VESSELS, RIGS AND EQUIPMENT, NET Movements in the year ended December 31, 2022 summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels, Rigs and Equipment, net Balance as of December 31, 2021 2,782,909 (552,326) 2,230,583 Depreciation — (146,518) (146,518) Vessel additions 560,750 — 560,750 Capital improvements 1,574 — 1,574 Balance as of December 31, 2022 3,345,233 (698,844) 2,646,389 During the year ended December 31, 2022, the Company took delivery of six Suezmax tankers, two LR2 product tankers, two newbuild 2,500 TEU container vessels and one 4,900 CEU car carrier for a total acquisition price of $560.8 million. Upon delivery, the vessels immediately commenced their long term charters. The capital improvements of $1.6 million (2021: $14.4 million) relate to exhaust gas cleaning systems ("EGCS" or "scrubbers") and ballast water treatment systems ("BWTS") installed on three vessels (2021: 10 vessels) during the year ended December 31, 2022. Advances paid in respect of vessel upgrades in relation to EGCS and BWTS were included within "Capital improvements, newbuildings and vessel purchase deposits", until such time as the equipment was installed on the vessels, at which point the amounts were transferred to "Vessels, rigs and equipment, net". Total depreciation expense for vessels, rigs and equipment was $146.5 million for the year ended December 31, 2022 (2021: $97.0 million; 2020: $71.3 million). During the year ended December 31, 2021, one drilling unit ( Linus ), previously recorded as a direct financing lease, was reclassified to vessels, rigs and equipment at the carrying value of $355.6 million. The drilling unit was leased to a subsidiary of Seadrill Limited (“Seadrill”), previously a related party, until September 30, 2022. The reclassification occurred on March 9, 2021, following approval by the applicable bankruptcy court of the Interim Funding and Settlement Agreement signed between the Company and Seadrill, allowing Seadrill to pay reduced charter hire for Linus during the interim period. The change in rate met the definition of a modification resulting in the lease being reclassified from a direct financing lease to an operating lease. (Refer to Note 18: Investment in Sales-Type Leases, Direct Financing Leases and Leaseback Assets and Note 19: Investment in Associated Companies). In August, 2021, the Company consolidated the wholly owned subsidiary owning the drilling rig Hercules that was previously accounted for using the equity method of accounting. (Refer to Note 19: Investment in Associated Companies). As a result, the carrying value of the drilling unit of $261.6 million, was recognized in Vessels, Rigs and Equipment, net in the year ended December 31, 2021. In the year ended December 31, 2020, the Company consolidated the wholly owned subsidiary owning the drilling unit West Taurus that was previously accounted for using the equity method of accounting. (Refer to Note 19: Investment in Associated Companies). As a result, the entity has been consolidated in the financial statements and the carrying value of the drilling unit, of $258.1 million, was recognized in vessels, rigs and equipment, net. In September 2021, the rig was sold to a ship recycling facility in Turkey. During the year ended December 31, 2021, the Company recorded an impairment loss of $1.9 million (2020: $252.6 million) prior to disposal and a loss on sale of $0.6 million was recognized in the Consolidated Statement of Operations. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). No impairment losses were recorded during the year ended December 31, 2022. In the year ended December 31, 2021, an impairment loss for West Taurus was recorded, as described above. In the year ended December 31, 2020, we recorded further impairment losses of $80.3 million against the carrying value of seven Handysize bulk carriers. The impairment charge arose in the year ended December 31, 2020, as a result of revised future cashflow estimates following uncertainty over future demand combined with negative implications for global trade of dry bulk commodities as a result of the COVID-19 outbreak. During the year ended December 31, 2022, no vessel disposals took place. During the year ended December 31, 2021, the Company entered into agreements to sell seven Handysize bulk carriers to an unrelated party based in Asia. The vessels were delivered to the buyer in the fourth quarter of 2021 and the Company recognized a net gain on disposal of $39.3 million. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). During the year ended December 31, 2020, the Company sold five offshore support vessels and recorded a net gain of $0.9 million in connection with the disposals. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). Four of these vessels were accounted for as operating leases within Vessels, Rigs and Equipment, net, and the other one was accounted for as a direct financing lease. (Refer to Note 18: Investments in Sales-Type Leases, Direct Financing Leases and Leaseback Assets). Acquisitions, disposals and impairments in respect of vessels accounted for as sales-type leases, direct financing leases, leaseback assets and vessels under finance leases are discussed in Note 18: Investment in Sales-Type Leases, Direct Financing Leases and Leaseback Assets and Note 16: Vessels under Finance Lease, Net.

CAPITAL IMPROVEMENTS, NEWBUILDI

CAPITAL IMPROVEMENTS, NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Capital Improvements, Newbuildings and vessel purchase deposits	CAPITAL IMPROVEMENTS, NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS (in thousands of $) 2022 2021 Capital improvements in progress 4,127 591 Newbuildings 93,733 46,093 Vessel purchase deposits — 11,000 97,860 57,684 Capital improvements in progress comprises of advances paid and costs incurred in respect of upgrades in relation to the special periodic survey on two rigs (2021: BWTS on three vessels). This is recorded in "Capital improvements, newbuildings and vessel purchase deposits" until such time as the equipment is installed on a vessel or rig, at which point it is transferred to "Vessels, rigs and equipment, net" or "Investment in sales-type leases and direct financing leases". The carrying value of newbuildings represents the accumulated costs which the Company has paid in purchase installments and other capital expenditures in relation to four (2021: four) newbuilding contracts, together with capitalized loan interest. Interest capitalized in the cost of newbuildings amounted to $2.7 million in the year ended December 31, 2022 (2021: $0.4 million, 2020: $0.0 million). During the year ended December 31, 2021, the Company paid a deposit of $11.0 million in connection with the acquisition of two Suezmax tankers. The deposit was reclassified to "Vessels, Rigs and Equipment, net" upon delivery of the vessels in January and February 2022. (See Note 14: Vessels, Rigs and Equipment, Net).

VESSELS UNDER FINANCE LEASE, NE

VESSELS UNDER FINANCE LEASE, NET	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
VESSELS UNDER FINANCE LEASE, NET	VESSELS UNDER FINANCE LEASE, NET Movements in the year ended December 31, 2022 summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels under Finance Lease, net Balance as of December 31, 2021 777,939 (121,867) 656,072 Depreciation — (41,309) (41,309) Balance as of December 31, 2022 777,939 (163,176) 614,763 As of December 31, 2022, seven vessels were accounted for as vessels under finance lease, made up of four 14,000 TEU container vessels and three 10,600 TEU container vessels. The vessels are leased back for an original term ranging from six Total depreciation expense for vessels under finance lease amounted to $41.3 million for the year ended December 31, 2022 and is included in depreciation in the consolidated statements of operations. (2021: $41.3 million; 2020: $40.0 million).

OTHER LONG TERM ASSETS

OTHER LONG TERM ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER LONG TERM ASSETS	OTHER LONG TERM ASSETS Other long term assets comprise the following items: (in thousands of $) 2022 2021 Collateral deposits on swap agreements 8,770 10,368 Value of acquired charter-out contracts, net 4,712 7,607 Other — 566 Total other long-term assets 13,482 18,541 Collateral deposits exist on our interest rate, cross currency interest rate and cross currency swaps. Further amounts may be called upon during the term of the swaps if interest rates or currency rates move adversely. The Company purchased four container vessels, Thalassa Mana , Thalassa Tyhi , Thalassa Doxa and Thalassa Axia, with each vessel subject to pre-existing time charters. A value of $18.0 million was assigned to these charters on acquisition in 2018. During the year ended December 31, 2022, the amortization charged to time charter revenue was $2.9 million (2021: $2.9 million, 2020: $2.9 million). Other long term assets previously included $1.9 million of loan notes receivables due from third parties in relation to the early termination of charters. Following the adoption of ASU 2016-13 from January 1, 2020, the Company recognized a credit loss provision totaling $1.9 million against this long term receivables balance thereby resulting in a net balance of $0.0 million from December 31, 2020. There was no movement to the foregoing during the years ended December 31, 2022 and December 31, 2021.

INVESTMENTS IN SALES-TYPE LEASE

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS	12 Months Ended
	Dec. 31, 2022
Net Investment in Direct Financing and Sales Type Leases [Abstract]
INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS	INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS Foll owing the adoption of ASU 2016-02 from January 2019, the Company records new and modified leases as per ASC 842. The Company has elected the practical expedient to not reassess existing leases. The adoption of the standard resulted in no opening balance adjustments. See also Accounting policies within Note 2. (in thousands of $) 2022 2021 Investments in sales-type and direct financing leases 66,504 147,230 Investments in leaseback assets 52,519 57,536 119,023 204,766 As of December 31, 2022, the Company had a total of nine vessel charters accounted for as sales-type and direct financing leases (2021: 12 vessels) and one vessel charter classified as leaseback assets (2021: one vessel). Investments in sales-type and direct financing leases As of December 31, 2021, the Company had two VLCCs accounted for as direct financing leases, which were on long-term, fixed rate charters to Frontline Shipping. Frontline Shipping is a wholly owned subsidiary of Frontline, a related party. The terms of the charters did not provide Frontline Shipping with an option to terminate the charters before the end of their terms. In April 2022, the Company sold the two V LCCs on charter to Frontline Shipping, to an unrelated third party. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). The VLCC Front Hakata was sold to an unrelated third party in February 2020. A gain on sale of $1.4 million was recognized in the Consolidated Statements of Operation s. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters and Note 26: Related Party Transactions). As of December 31, 2022, the Company had nine (December 31, 2021: 10) container vessels accounted for as direct financing leases which were chartered on long-term bareboat charters to MSC Mediterranean Shipping Company S.A. ("MSC"). The terms of the charters for the nine container vessels provide the charterer with a minimum fixed price purchase obligation at the expiry of each of the charters. In April 2022, the Company sold and redelivered one 1,700 TEU container vessel to MSC, following the end of the vessel's bareboat charter. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). The Company also owned 15 container vessels accounted for as 'direct financing leases' which were chartered on long-term bareboat charters to MSC Mediterranean Shipping Company S.A. ("MSC"). The terms of the charters for the 15 container vessels provided the charterer with purchase options throughout the term of the charters and the Company with a put option at the end of the seven years charter period. During the year ended December 31, 2021, the 15 container vessels were sold and redelivere d to MSC, following exercise of the applicable purchase options. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). The Company owned one offshore supply vessel accounted for as a direct financing lease which was chartered on a long-term bareboat charter. I n February 2020, the Company entered into a Memorandum of Agreement to sell the offshore support vessel Sea Leopard for recycling to Green Yard AS, an unrelated third party. The vessel was delivered in May 2020. During the year ended December 31, 2020 t he Company recorded an impairment loss of $0.2 million prior to disposal and a loss on sale of $0.03 million was recognized in the Consolidated Statement of Operations. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters and Note 26: Related Party Transaction). During the year ended December 31, 2020, the Company recognized the amount of $361.0 million in investments in direct financing leases in respect of one drilling unit ( Linus ) which was leased to a subsidiary of Seadrill until September 30, 2022. SFL Linus Ltd was previously determined to be a variable interest entity in which the Company was not the primary beneficiary and the subsidiary was accounted for under the equity method. Following changes to the financing agreement in October 2020 as a result of defaults by Seadrill, the Company was determined to be the primary beneficiary of SFL Linus and consolidated it from this date. On March 9, 2021, the applicable bankruptcy court approved the Interim Funding and Settlement Agreement signed between the Company and Seadrill, allowing Seadrill to pay reduced charter hire for Linus during the interim period. The change in charter rate met the definition of a modification resulting in the lease being reclassified from a direct financing lease to an operating lease. A carrying value of $355.6 million was included in vessels, rigs and equipment in respect of the rig. (Refer to Note 14: Vessels, Rigs and Equipment, Net and Note 19: Investment in Associated Companies). River Box was a previously wholly owned subsidiary of the Company. It 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. On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. Following the sale of River Box, the investments in the four container vessels accounted for as direct financing leases of $540.9 million have been derecognized from the consolidated financial statements of the Company. (Refer to Note 10: Gain on Sale of Subsidiaries and Note 19: Investment in Associated Companies). Investments in leaseback assets When a sale and leaseback transaction does not qualify for sale accounting, the Company does not recognize the transferred vessels and instead accounts for the purchase as a leaseback asset. In May 2020, SFL acquired a newbuild VLCC from Landbridge Universal Limited ("Landbridge") where control was not deemed to have passed to the Company due to the presence of repurchase options in the lease on acquisition and therefore was classified as a leaseback asset. Upon delivery, the vessel immediately commenced a seven-year bareboat charter back to Landbridge. The charterer has purchase options throughout the term of the charters and there is a purchase obligation at the end of the seven-year period. During the year ended December 31, 2019, the Company acquired six vessels where control was not deemed to have passed to the Company due to the existence of repurchase options in the leases on acquisition. These have therefore been classified as 'leaseback assets'. These comprised of three second-hand feeder size container vessels which were acquired in a purchase and leaseback with subsidiaries of MSC. The vessels were chartered back for approximately six years on bareboat basis. The charterer had purchase options throughout the term of the charters and the Company had a put option at the end of the six-year period. During the year ended December 31, 2021, the three container vessels were sold and redelivered to MSC, following exercise of the applicable purchase options. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). Additionally, the Company entered into purchase and leaseback transactions to acquire three newbuilding VLCC crude oil tankers. The vessels were acquired from an affiliate of Hunter Group ASA ("Hunter Group") and leased back to the Hunter Group on five-year bareboat charters. During the year ended December 31, 2020, SFL redelivered all three VLCCs to the Hunter Group, following exercise of options. Net proceeds of $176.2 million were received and debt of $142.5 million was repaid. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters ). The following lists the components of investments in sales-type leases, direct financing leases and leaseback assets as of December 31, 2022 and December 31, 2021: (in thousands of $) December 31, 2022 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 30,708 34,160 64,868 Purchase obligations at the end of the leases 43,150 31,500 74,650 Net minimum lease payments receivable 73,858 65,660 139,518 Estimated residual values of leased property (un-guaranteed) — — — Less : unearned income (7,252) (13,051) (20,303) Total investment in sales-type lease, direct financing lease and leaseback assets 66,606 52,609 119,215 Allowance for expected credit losses* (102) (90) (192) Total investment in sales-type lease, direct financing lease and leaseback assets 66,504 52,519 119,023 Current portion 10,794 4,638 15,432 Long-term portion 55,710 47,881 103,591 (in thousands of $) December 31, 2021 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 120,411 43,103 163,514 Purchase obligations at the end of the leases 44,900 31,500 76,400 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (34,128) — (34,128) Net minimum lease payments receivable 131,183 74,603 205,786 Estimated residual values of leased property (un-guaranteed) 34,721 — 34,721 Less : unearned income (17,532) (16,946) (34,478) Total investment in sales-type lease, direct financing lease and leaseback assets 148,372 57,657 206,029 Allowance for expected credit losses* (1,142) (121) (1,263) Total investment in sales-type lease, direct financing lease and leaseback assets 147,230 57,536 204,766 Current portion 18,436 5,048 23,484 Long-term portion 128,794 52,488 181,282 *See Note 28: Allowance for Expected Credit Losses. The minimum future gross revenues including purchase obligations to be received under the Company's non-cancellable sales type leases, direct financing leases and leaseback assets as of December 31, 2022, are as follows: (in thousands of $) Year ending December 31, Sales-Type Leases and Direct Financing Leases Leaseback Assets Total 2023 14,688 8,162 22,850 2024 23,079 7,686 30,765 2025 36,091 7,665 43,756 2026 — 7,665 7,665 2027 — 34,482 34,482 Thereafter — — — Total minimum lease payments to be received 73,858 65,660 139,518 Interest income earned on investments in direct financing leases, sales type leases and leaseback assets in the year ended December 31, 2022 was as follows: (in thousands of $) 2022 2021 2020 Investments in sales type and direct financing leases* 5,021 14,173 57,579 Investments in leaseback assets 3,895 5,351 13,637 Total 8,916 19,524 71,216 * Interest income earned on investments in sales-type leases and direct financing leases in the above table includes $0.4 million in relation to Frontline Shipping, a related party (2021: $1.5 million; 2020: $1.7 million).

INVESTMENT IN ASSOCIATED COMPAN

INVESTMENT IN ASSOCIATED COMPANIES	12 Months Ended
	Dec. 31, 2022
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
INVESTMENT IN ASSOCIATED COMPANIES	INVESTMENT IN ASSOCIATED COMPANIES The Company has, and has had, certain wholly-owned subsidiaries which are accounted for using the equity method of accounting, as it has been determined under ASC 810 that they are variable interest entities in which SFL is not the primary beneficiary. As of December 31, 2022, 2021 and 2020, the Company had the following participation in investments that are recorded using the equity method: 2022 2021 2020 River Box Holding Inc. 49.90 % 49.90 % 49.90 % SFL Deepwater Ltd * * * SFL Hercules Ltd * * 100.00 % SFL Linus Ltd * * * River Box was a previously wholly owned subsidiary of the Company. 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 . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. A gain of $1.9 million was recognized in the Statement of Operations for the year ended December 31, 2020 in relation to the disposal. (See Note 10: Gain on Sale of Subsidiaries). The Company has accounted for the remaining 49.9% ownership in River Box using the equity method. SFL Hercules Ltd ("SFL Hercules") and SFL Linus Ltd ("SFL Linus") each owned the drilling units Hercules and Linu s respectively. These units were leased to subsidiaries of Seadrill, previously a related party. SFL Deepwater Ltd ("SFL Deepwater") owned the drilling unit West Taurus, which was also on charter to a subsidiary of Seadrill until the first quarter of 2021. Because the main assets of SFL Deepwater, SFL Hercules and SFL Linus were the subject of leases which each include both fixed price call options and a fixed price purchase obligation or put option, they were previously determined to be variable interest entities in which the Company was not the primary beneficiary. In September 2017, Seadrill announced that it has entered into a restructuring agreement (the “2017 Restructuring Plan”) with more than 97% of its secured bank lenders, approximately 40% of its bondholders and a consortium of investors led by its largest shareholder, Hemen, who was also the largest shareholder in the Company at the time. The Company, SFL Deepwater, SFL Hercules and SFL Linus also entered into the 2017 Restructuring Plan, which was implemented by way of prearranged Chapter 11 cases. In September and October 2020, Seadrill failed to pay hire when due under the leases for the three drilling units. The overdue hires together with certain other events, constituted an event of default. During the year ended December 31, 2020, and following changes to the loan agreements, the Company was determined to be the primary beneficiary of SFL Linus and was consolidated from October 2020. SFL Deepwater was also consolidated from October 2020 as the Company was deemed to be primary beneficiary from this date. In February 2021, Seadrill and most of its subsidiaries filed Chapter 11 cases in the Southern District of Texas. SFL and certain of its subsidiaries entered into court approved interim agreements with Seadrill relating to two of the Company’s drilling rigs, Linus and Hercules. The lease to West Taurus was rejected by the court in March 2021 and the rig was redelivered by Seadrill to SFL in the second quarter of 2021. In March 2021, the Company signed an agreement for the recycling of the rig at a facility in Turkey and delivered the rig to the recycling facility in September 2021. The asset was derecognized on disposal and a net loss of $0.6 million was recorded in relation to the recycling of the rig. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). During the year ended December 31, 2021 and following amendments to the Hercules bareboat charter and loan facility agreements, SFL Hercules was determined to no longer be a variable interest entity and was consolidated from August 2021. On February 22, 2022, Seadrill announced that it has emerged from Chapter 11 after successfully completing its reorganization. Upon emergence a new independent board of directors assumed leadership of the new parent company of the Seadrill group, which is referred to as Seadrill 2021 Limited. Hemen's shareholding in Seadrill 2021 Limited post-emergence from bankruptcy is also below 1%. Consequently, SFL determined that Seadrill is no longer a related party following the emergence from bankruptcy. (See Note 26: Related Party Transactions). Summarized balance sheet information of the Company's equity method investees is as follows: River Box (in thousands of $) 2022 2021 Share presented 49.90 % 49.90 % Current assets 15,186 13,987 Non-current assets 234,572 247,361 Total assets 249,758 261,348 Current liabilities 14,267 13,242 Non-current liabilities (1) 218,944 231,471 Total liabilities 233,211 244,713 Total stockholders' equity (2) 16,547 16,635 (1) River Box non-current liabilities as of December 31, 2022, include $45.0 million due to SFL (2021: $45.0 million). (See Note 26: Related Party Transactions). (2) In the year ended December 31, 2022, River Box paid a dividend of $2.9 million to the Company (2021: $2.2 million). Summarized statement of operations information of the Company's equity method investees is shown below. Year ended December 31, 2022 (in thousands of $) River Box Operating revenues 19,269 Net operating revenues 19,248 Net income (3) 2,833 Year ended December 31, 2021 (in thousands of $) River Box SFL Hercules TOTAL Operating revenues 20,115 13,753 33,868 Net operating revenues 20,094 6,558 26,652 Net income (3) 3,267 927 4,194 Year ended December 31, 2020 (in thousands of $) SFL Deepwater SFL Hercules SFL Linus TOTAL Operating revenues 11,835 15,072 18,666 45,573 Net operating revenues 11,892 15,050 18,590 45,532 Net income (3) (6,002) 3,827 6,461 4,286 (3) The net income of River Box for the year ended December 31, 2022, includes interest payable to SFL amounting to $4.6 million. The net income of River Box and SFL Hercules for the year ended December 31, 2021, includes interest payable to SFL amounting to $4.6 million and $2.4 million respectively. The net income of River Box, SFL Deepwater, SFL Hercules and SFL Linus for 2020 includes interest payable to SFL amounting to $0.0 million, $3.8 million, $3.6 million, and $4.5 million, respectively. (See Note 26: Related Party Transactions). As required by ASU 2016-13 'Financial Instruments - Credit Losses' from January 2020, the associated companies recognized an allowance for ex pected credit losses in respect of their principal financial assets : 'Investment in d irect f inanc ing l ease s ' and 'Related p arty r eceivable balances', held at the reporting date , which are within the scope of the ASU. Movements in the year ended December 31, 2022, in the allowance for expected credit losses can be summarized as follows: As of December 31, 2022 (in thousands of $) River Box Share presented 49.90 % Balance as of December 31, 2021 396 Allowance recorded in net income of associated company (18) Balance as of December 31, 2022 378 As indicated in Note 2 : 'Accounting Policies', the allowance for expected credit losses is based on an analysis of factors including the credit rating assigned to the lessee, Seadrill, management ' s assessment of current and expected conditions in the offshore drilling market and calculated collateral exposure. In the year ended December 31, 2022, River Box paid a dividend of $2.9 million to the Company (2021: $2.2 million). In 2021, SFL Hercules did not pay any dividends to the Company.

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES (in thousands of $) 2022 2021 Vessel operating expenses 17,315 11,278 Administrative expenses 1,650 1,626 Interest expense 8,233 6,890 27,198 19,794

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES (in thousands of $) 2022 2021 Deferred and prepaid charter revenue 27,196 21,505 Employee taxes 45 35 Other items 563 1,206 27,804 22,746

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2022
Long-Term Debt, by Current and Noncurrent [Abstract]
SHORT-TERM AND LONG-TERM DEBT	SHORT-TERM AND LONG-TERM DEBT (in thousands of $) 2022 2021 Long-term debt: NOK700 million senior unsecured floating rate bonds due 2023 71,243 79,507 4.875% senior unsecured convertible bonds due 2023 137,900 137,900 NOK700 million senior unsecured floating rate bonds due 2024 70,734 78,939 NOK600 million senior unsecured floating rate bonds due 2025 60,048 61,334 7.25% senior unsecured sustainability-linked bonds due 2026 150,000 150,000 Lease debt financing 394,555 126,955 Borrowings secured on Frontline shares — 15,639 U.S. dollar denominated floating rate debt due through 2029 1,329,156 1,253,481 Total debt principal 2,213,636 1,903,755 Less : unamortized debt issuance costs (12,580) (14,541) Less : current portion of long-term debt (921,270) (302,769) Total long-term debt 1,279,786 1,586,445 The outstanding debt as of December 31, 2022, is repayable as follows: Year ending December 31, (in thousands of $) 2023 921,270 2024 295,494 2025 437,200 2026 235,242 2027 185,158 Thereafter 139,272 Total debt principal 2,213,636 Interest rate information December 31, 2022 December 31, 2021 Weighted average interest rate* 5.30 % 2.68 % US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate 4.77 % 0.21 % Secured Overnight Financing Rate ("SOFR"), closing rate 4.30 % 0.05 % Effective Federal Funds Rate ("EFFR"), closing rate 4.33 % 0.07 % Norwegian Interbank Offered Rate ("NIBOR") 3.26 % 0.95 % *The weighted average interest rate is for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) which takes into consideration the effect of related interest rate swaps. $475 million term loan and revolving credit facility SFL Linus was consolidated from October 29, 2020. (See Note 19: Investment in Associated Companies). In October 2013, SFL Linus entered into a $475.0 million five-year term loan and revolving credit facility with a syndicate of banks to partly finance the acquisition of the rig. The facility was drawn in February 2014. During the year ended December 31, 2017, certain amendments were agreed with the banks under the loan facility, including an extension of the final maturity date by four years. In addition, the Company had given the banks a first priority pledge over all shares of SFL Linus and assigned all claims under a secured loan made by the Company to SFL Linus in favor of the banks. This loan is secured by a second priority mortgage over the rig which has been assigned to the banks. In November 2022, , the second priority mortgage over the rig was released and the rig Linus was transferred to the wholly owned subsidiary Linus Rig Ltd. The loan agreement was amended to include Linus Rig Ltd as jointly and severally liable with SFL Linus under the terms of the agreement. As of December 31, 2022, the balance outstanding under this facility was $183.8 million (2021: $199.9 million). The Company fully guaranteed the facility as of December 31, 2022 (2021: fully guaranteed). $375 million term loan and revolving credit facility SFL Hercules was consolidated from August 27, 2021. (See Note 19: Investment in Associated Companies). In May 2013, SFL Hercules entered into a $375.0 million six-year term loan and revolving credit facility with a syndicate of banks to partly finance the acquisition of the harsh environment semi-submersible drilling rig Hercules , previously owned by the wholly owned subsidiary SFL Deepwater. The facility was drawn in June 2013. In connection with the 2017 Restructuring Plan of Seadrill, certain amendments were agreed with the banks under the loan facility, including an extension of the final maturity date by four years. In August 2021, the Company entered into an amendment to its existing charter agreement (the “amendment agreement”) with subsidiaries of Seadrill for Hercules , which was approved by the applicable bankruptcy court in September 2021. Each of SFL’s financing banks consented to the amendment agreement, and SFL’s limited corporate guarantee of the outstanding debt of the rig owning subsidiary remains unchanged at $83.1 million as of December 31, 2022 (2021: $83.1 million). Additionally, SFL agreed to a cash contribution of $5.0 million to the SFL Hercules's pledged earnings account at the time of redelivery following the termination of the Seadrill charter, in addition to a $3.0 million payable by Seadrill. These contributions were made in December 2022 following the redelivery of the rig by Seadrill. As of December 31, 2022, the balance outstanding under this facility was $153.5 million (2021: $169.6 million). In January 2023, the rig Hercules was transferred by SFL Hercules Ltd. to the wholly owned subsidiary Hercules Rig Ltd. The loan agreement was amended to include Hercules Rig Ltd as jointly and severally liable with SFL Hercules under the terms of the agreement. $45 million secured term loan and revolving credit facility In June 2014, seven wholly-owned subsidiaries of the Company entered into a $45.0 million secured term loan and revolving credit facility with a bank, secured against seven 4,100 TEU container vessels. The facility bears interest at LIBOR plus a margin and has a term of five years. During June 2019, the terms of loan were amended and the loan was extended by a further two years. During June 2021 the terms of the loan were further amended and the loan was extended by a further four years. As of December 31, 2022, the available amount under the revolving part of the facility was $0.0 million (2021: $0.0 million). The net amount outstanding as of December 31, 2022, was $37.5 million (2021: $42.5 million). $20 million secured term loan facility In September 2014, two wholly-owned subsidiaries of the Company entered into a $20.0 million secured term loan facility with a bank, secured against two 5,800 TEU container vessels. The facility bears interest at LIBOR plus a margin and has a term of five years. In September 2019, the terms of the loan were amended and restated, and the facility now matures in March 2024. The net amount outstanding as of December 31, 2022, was $13.8 million (2021: $15.6 million). $39 million secured term loan facility In December 2014, two wholly-owned subsidiaries of the Company entered into a $39.0 million secured term loan facility with a bank, secured against two Kamsarmax dry bulk carriers. The Company had provided a limited corporate guarantee for this facility, which bore interest at LIBOR plus a margin and had a term of approximately eight years. The facility matured in August 2022 and was fully repaid. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $19.4 million). $166.4 million secured term loan facility In July 2015, eight wholly-owned subsidiaries of the Company entered into a $166.4 million secured term loan facility with a syndicate of banks, secured against eight Capesize dry bulk carriers. The Company had provided a limited corporate guarantee for this facility, which bore interest at LIBOR plus a margin and had a term of seven years. The facility matured in July 2022 and was fully repaid. The net amount outstanding as of December 31, 2022 was $0.0 million (2021: $76.3 million). $76 million secured term loan facility In August 2017, two wholly-owned subsidiaries of the Company entered into a $76.0 million secured term loan facility with a bank, secured against two product tankers. The two product tankers were delivered in August 2017. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of seven years. As of December 31, 2022, the net amount outstanding was $48.7 million (2021: $53.9 million). 4.875% senior unsecured convertible bonds due 2023 On April 23, 2018, the Company issued a senior unsecured convertible bond totaling $150.0 million. Additional bonds were issued on May 4, 2018 at a principal amount of $14.0 million. Interest on the bonds is fixed at 4.875% per annum and is payable in cash quarterly in arrears on February 1, May 1, August 1 and November 1. The bonds are convertible into SFL Corporation Ltd. common shares and mature on May 1, 2023. The net amount outstanding as of December 31, 2022 was $137.9 million (2021: $137.9 million). The initial conversion rate at the time of issuance was 52.8157 common shares per $1,000 bond, equivalent to a conversion price of approximately $18.93 per share. Since the issuance, dividend distributions have increased the conversion rate to 85.0332 common shares per $1,000 bond, equivalent to a conversion price of approximately $11.76 per share. Based on the closing price of our common stock of $9.22 on December 31, 2022, the if-converted value was less than the principal amounts by $29.8 million. During the year ended December 31, 2021, the Company purchased bonds with principal amounts totaling $2.0 million (2020: $8.4 million). A gain of $0.2 million was recorded on the transaction (2020: $0.3 million). In the year ended December 31, 2022, no bonds were repurchased. In conjunction with the bond issue, the Company agreed to loan up to 7,000,000 of its common shares to affiliates of the underwriters of the issue, in order to assist investors in the bonds to hedge their position. As of December 31, 2022, a total of 3,765,842 shares were issued from up to 7,000,000 shares issuable under a share lending arrangement. As required by ASC 470-20 "Debt with conversion and Other Options", the Company calculated the equity component of the convertible bond, taking into account both the fair value of the conversion option and the fair value of the share lending arrangement. The equity component was valued at $7.9 million at issuance and this amount was recorded as "Additional paid-in capital", with a corresponding adjustment to "Deferred charges", which was amortized to "Interest expense" over the appropriate period. The amortization of this item amounted to $1.4 million in the year ended December 31, 2021 (2020: $1.3 million). As a result of the purchase of bonds with principal amounts totaling $2.0 million (2020: $8.4 million), a total of $0.1 million was allocated as the reacquisition of the equity component (2020: $0.3 million). The balance remaining in equity as of December 31, 2021 was $6.7 million (2020: $6.8 million). On January 1, 2022, the Company implemented the guidance contained in ASU 2020-06 which simplifies the accounting for ]certain financial instruments with characteristics of liabilities and equity. ASU 2020-06, was adopted using the modified retrospective method (see Note 2: Accounting Policies). Following the adoption, the 4.875% senior unsecured convertible notes due 2023 are reflected entirely as a liability as the embedded conversion feature is no longer presented within stockholders' equity. The cumulative effect of adopting this guidance was an incremental adjustment of $4.3 million to opening retained earnings, and a $5.9 million reduction to additional paid-in capital as of January 1, 2022. This net adjustment to equity of $1.6 million resulted in a corresponding decrease in deferred debt issuance costs. The balance remaining in equity as of January 1, 2022 and December 31, 2022 was $0.8 million which relates to the share-lending arrangement. NOK700 million senior unsecured bonds due 2023 On September 13, 2018 the Company issued a senior unsecured bond totaling NOK600 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on September 13, 2023. On July 30, 2019, the Company conducted a tap issue of NOK100 million under this facility. The bonds were issued at 101.625% of par, and the new outstanding amount after the tap issue is NOK700 million. The net amount outstanding as of December 31, 2022, was NOK700 million, equivalent to $71.2 million (2021: NOK700 million, equivalent to $79.5 million). $17.5 million secured term loan facility due 2023 In December 2018, two wholly-owned subsidiaries of the Company entered into a $17.5 million secured term loan facility with a bank, secured against two Supramax dry bulk carriers. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately five years. The net amount outstanding as of December 31, 2022, was $9.4 million (2021: $11.1 million). $24.9 million senior secured term loan facility In February 2019, three wholly-owned subsidiaries of the Company entered into a $24.9 million senior secured term loan facility with a bank, secured against three Supramax dry bulk carriers. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately five years. The net amount outstanding as of December 31, 2022, was $15.1 million (2021: $17.7 million). $50 million senior secured term loan facility In February 2019, three wholly-owned subsidiaries of the Company entered into a $50.0 million senior secured term loan facility with a bank, secured against three VLCCs chartered to Frontline Shipping. In 2020, $14.9 million of this facility was repaid following the sale of one VLCC and the facility then related to the remaining two VLCCs. The Company had provided a corporate guarantee for this facility, which bore interest at LIBOR plus a margin and had a term of approximately three years. The facility matured in February 2022 and was fully repaid. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $35.2 million). $29.5 million term loan facility In March 2019, two wholly-owned subsidiaries of the Company entered into a $29.5 million term loan facility with a bank, secured against two car carriers. The Company had provided a corporate guarantee for this facility, which bore interest at LIBOR plus a margin and had a term of approximately five years. In April 2022, the facility was repaid early in full. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $19.0 million). NOK700 million senior unsecured bonds due 2024 On June 4, 2019, the Company issued a senior unsecured bond totaling NOK700 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on June 4, 2024. During the year ended December 31, 2020, the Company purchased bonds with principal amounts totaling NOK5 million equivalent to $0.5 million. A gain of $0.0 million was recorded on the transaction. No bonds were repurchased in the years ended December 31, 2022 and December 31, 2021. The net amount outstanding as of December 31, 2022 was NOK695 million equivalent to $70.7 million (2021: NOK695 million, equivalent to $78.9 million). $33.1 million term loan facility In June 2019, five wholly-owned subsidiaries of the Company entered into a $33.1 million term loan facility with a syndicate of banks. The Company has provided a corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately four years. During the year ended December 31, 2020 the five subsidiaries were dissolved and the facility was assigned to the Company. The net amount outstanding as of December 31, 2022, was $21.9 million (2021: $25.3 million). NOK600 million senior unsecured bonds due 2025 On January 21, 2020, the Company issued a senior unsecured bond totaling NOK600 million in the Norwegian credit market. The bonds bear quarterly interest at NIBOR plus a margin and are redeemable in full on January 21, 2025. During the year ended December 31, 2020, the Company purchased bonds with principal amounts totaling NOK60 million equivalent to $6.0 million. A gain of $1.4 million was recorded on the transaction. No bonds were repurchased in the years ended December 31, 2022 and December 31, 2021. In December 2022, the Company resold NOK50 million equivalent to $5.0 million of the bonds which had been repurchased in 2020. The net amount outstanding as of December 31, 2022 was NOK590 million equivalent to $60.0 million (2021: NOK540 million, equivalent to $61.3 million). $40 million senior secured term loan facility In March 2020, two wholly-owned subsidiaries of the Company entered into a $40.0 million senior secured term loan facility with a bank, secured against two Suezmax tankers. The Company has provided a corporate guarantee for this facility, which bore interest at LIBOR plus a margin and with a term of approximately two years. During March 2022, the terms of loan were amended to bear interest at SOFR plus a margin and the loan was extended by a year. The net amount outstanding as of December 31, 2022, was $31.9 million (2021: $32.9 million). $175 million term loan facility In March 2020, four wholly-owned subsidiaries of the Company entered into a $175 million term loan facility with a syndicate of banks, secured against four 8,700 TEU containerships. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and with a term of approximately five years. The net amount outstanding as of December 31, 2022, was $127.7 million (2021: $146.6 million). $50 million senior secured term loan facility In May 2020, a wholly-owned subsidiary of the Company entered into a $50.0 million senior secured term loan facility with a bank, bearing interest at LIBOR plus a margin and with a term of approximately five years. The facility is secured against a 308,000 dwt VLCC. The net amount outstanding as of December 31, 2022, was $43.1 million (2021: $45.8 million). $50 million senior secured credit facility In November 2020, a wholly-owned subsidiary of the Company entered into a $50.0 million senior secured term loan facility with a bank, secured against a container vessel. The Company has provided a corporate guarantee for this facility, which bears interest at LIBOR plus a margin and with a term of approximately four years. The net amount outstanding as of December 31, 2022, was $40.0 million (2021: $45.0 million). $51 million term loan facility In February 2021, a wholly-owned subsidiary of the Company entered into a $51.0 million term loan facility with a bank, secured against a container vessel. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and with a term of approximately four years. The net amount outstanding as of December 31, 2022, was $43.3 million (2021: $47.7 million). $51 million term loan facility In April 2021, a wholly-owned subsidiary of the Company entered into a $51.0 million term loan facility with a bank, secured against a container vessel. The Company has provided a corporate guarantee for this facility, which bears interest at LIBOR plus a margin and with a term of approximately four years. The net amount outstanding as of December 31, 2022, was $44.4 million (2021: $48.8 million). 7.25% senior unsecured sustainability-linked bonds due 2026 On May 12, 2021, the Company issued a senior unsecured sustainability-linked bond totaling $150 million in the Nordic credit market. The bonds bear quarterly interest at a fixed rate of 7.25% per annum and are redeemable in full on May 12, 2026. By the maturity date of the bond, the Company aims to have committed an amount at least equal to the size of the issue on upgrades of existing vessels and/or vessel acquisitions. The net amount outstanding as of December 31, 2022 was $150.0 million (2021: $150.0 million). $134 million term loan facility In September 2021, two wholly-owned subsidiaries of the Company entered into a $134.0 million term loan facility with a bank, secured against two container vessels. The Company had provided a limited corporate guarantee for this facility, which bore interest at LIBOR plus a margin and had a term of approximately three years. In September 2022, the facility was repaid early in full. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $130.4 million). $35 million term loan facility In December 2021, a wholly-owned subsidiary of the Company entered into a $35.0 million term loan facility with a bank, secured against a container vessel. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately seven years. The net amount outstanding as of December 31, 2022, was $32.9 million (2021: $35.0 million). $107.3 million term loan facility In December 2021, three wholly-owned subsidiaries of the Company entered into a $107.3 million term loan facility with a bank, secured against three Suezmax tankers. One of the vessels was delivered in 2021, and $35.8 million of the facility was drawn down. Two vessels were delivered in 2022 and the remaining $71.5 million of the facility was drawn down. The Company has provided a limited corporate guarantee for this facility, which bears interest at LIBOR plus a margin and has a term of approximately five years. The net amount outstanding as of December 31, 2022, was $102.0 million (2021: $35.8 million). $35.1 million term and revolving loan facility In February 2022, two wholly-owned subsidiaries of the Company entered into a $35.1 million term and revolving loan facility with a bank, secured against two VLCCs. The Company had provided a limited corporate guarantee for this facility, which bore interest at SOFR plus a margin and had a term of approximately three years. During the year ended December 31, 2022, the two VLCCs were sold. The vessels were delivered in April 2022, and the facility was fully repaid. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $0.0 million). $100.0 million term loan facility In March 2022, four wholly-owned subsidiaries of the Company entered into a $100.0 million term loan facility with a bank, secured against four product tankers. The Company has provided a limited corporate guarantee for this facility, which bears interest at SOFR plus a margin and with a term of approximately five years. The net amount outstanding as of December 31, 2022, was $92.4 million (2021: $0.00 million). $30.0 million loan facility In December 2021, a wholly-owned subsidiary of the Company entered into a general share lending agreement and 8,000,000 shares were transferred into the custody of the counterparty. This facility provides a $30.0 million loan in connection with the 8,000,000 lent shares. The facility is repayable on demand, by either party to the agreement. The Company drew down $30.0 million in August 2022, and subsequently repaid the facility in full in October 2022. The facility bore interest at the US Federal Funds Rate with a zero floor plus a margin. The net amount outstanding as of December 31, 2022, was $0.0 million (2021: $0.00 million). $23.0 million term loan facility In September 2022, two wholly-owned subsidiaries of the Company entered into a $23.0 million term loan facility with a bank, secured against two dry bulk carriers. The Company has provided a limited corporate guarantee for this facility, which bears interest at SOFR plus a margin and with a term of approximately one year. The net amount outstanding as of December 31, 2022, was $21.8 million (2021: $0.00 million). $115.0 million term loan facility In September 2022, eight wholly-owned subsidiaries of the Company entered into a $115.0 million term loan facility with a bank, secured against eight dry bulk carriers. The Company has provided a limited corporate guarantee for this facility, which bears interest at SOFR plus a margin and with a term of approximately three years. The net amount outstanding as of December 31, 2022, was $110.0 million (2021: $0.00 million). $290.0 million term loan facility In September 2022, the Company and six wholly-owned subsidiaries of the Company entered into a $290.0 million term loan facility with a bank. The facility served as a temporary source of finance for vessel acquisitions, with a term of approximately six months. Each of the six wholly-owned subsidiaries of the Company has provided a limited corporate guarantee for this facility, which bears interest at SOFR plus a margin. The facility was partly repaid in 2022. The net amount outstanding as of December 31, 2022, was $156.0 million (2021: $0.00 million). Lease debt financing In September 2021, the wholly ow ned subsidiaries of the Company owning the two newly acquired 6,800 TEU container vessels entered into sale and leaseback transactions for these vessels, through a Japanese operating lease with call option financing structure. The sales price for each ves sel was $65.0 million, totaling $130.0 million. The vessels were leased back for a term of six years, with options to purchase each vessel at the end of the fifth and sixth year. These two transactions did not qualify as sales under the US GAAP sale and leaseback guidance and have thus been recorded as financing arrangements. The net combined amount outstanding as of December 31, 2022 was $113.2 million (2021: $127.0 million). In April 2022, the wholly owned subsidiaries of the Company owning two 6,500 CEU car carriers entered into sale and leaseback transactions for these vessels, through a Japanese operating lease with call option financing structure. The sales prices for the vessels were $23.5 million and $25.3 million. The vessels were leased back for a term of approximately three years, with options to purchase each vessel at the end of the third year. These two transactions did not qualify as sales under the US GAAP sale and leaseback guidance and have thus been recorded as financing arrangements. The net amounts outstanding as of December 31, 2022 were $20.7 million (2021: $0.0 million) and $22.4 million (2021: $0.0 million) respectively. In October and December 2022, the wholly owned subsidiaries of the Company owning two 14,000 TEU container vessels entered into sale and leaseback transactions for these vessels, through a Japanese operating lease with call option financing structure. The sales price for each vessel was $120.0 million, totaling $240.0 million. The vessels were leased back for a term of approximately seven years, with options to purchase each vessel at the end of the seventh year. These two transactions did not qualify as sales under the US GAAP sale and leaseback guidance and have thus been recorded as financing arrangements. The net combined amount outstanding as of December 31, 2022 was $238.3 million (2021: $0.0 million). Borrowings secured on Frontline shares As of December 31, 2021 , the Company had a forward contract which expired in January of 2022, to repurchase 1.4 million shares of Frontline at a repurchase price of $16.4 million including accrued interest. The transaction was accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability recorded within debt. During the year ended December 31, 2022, the forward contract to repurchase 1.4 million shares of Frontline was rolled over to September 2022, at a repurchase price of $16.7 million. In September 2022, the Company settled the forward contract in full and recorded the sale of the 1.4 million shares and extinguishment of the corresponding debt of $15.6 million. The net amount outstanding as of December 31, 2022 was $0.0 million (December 31, 2021: $15.6 million). A net gain of $4.6 million was recognized in the Statement of Operations in respect of the settlement . (See also Note 12: Investments in Debt and Equity Securities and Note 29: Commitments and Contingent Liabilities). The C ompany was required to post collateral of 20% of the total repurchase price plus any negative mark to market movement from the repurchase price for the duration of the agreement. As of December 31, 2022 , $0.0 million was held as collateral and recorded as restricted cash (December 31, 2021: $8.3 million). The aggregate book value of assets pledged as security against borrowings as of December 31, 2022, was $2,579 million (2021: $2,310 million).

FINANCE LEASE LIABILITY

FINANCE LEASE LIABILITY	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
FINANCE LEASE LIABILITY	FINANCE LEASE LIABILITY (in thousands of $) 2022 2021 Finance lease liability, current portion 53,655 51,204 Finance lease liability, long-term portion 419,341 472,996 472,996 524,200 River Box was a previously wholly owned subsidiary of the Company. It 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 which were chartered-in on a bareboat basis, each for a period of 15 years from delivery by the shipyard. The four vessels are also chartered-out for the same 15-year period on a bareboat basis to MSC, an unrelated party. On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. Following the sale of River Box, the investments in the four container vessels accounted for as direct financing leases of $540.9 million and its related finance lease liabilities of $464.7 million have been derecognized from the consolidated financial statements of the Company. (Refer to Note 10: Gain on Sale of Subsidiaries and Note 19: Investment in Associated Companies). In 2018, the Company acquired four 14,000 TEU container vessels and three 10,600 TEU container vessels, which were subsequently refinanced with an Asian based financial institution by entering into separate sale and leaseback financing arrangements. The vessels are leased back for terms ranging from six The Company's future minimum lease liability under the non-cancellable finance leases are as follows: Year ending December 31, (in thousands of $) 2023 74,735 2024 433,866 Thereafter — Total finance lease liability 508,601 Less: imputed interest payable (35,605) Present value of finance lease liability 472,996 Less: current portion (53,655) Finance lease liability, long-term portion 419,341 Interest incurred on the finance lease liability in the year ended December 31, 2022 was $23.5 million (2021: $25.8 million; 2020: $59.6 million).

SHARE CAPITAL, ADDITIONAL PAID-

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS	SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS Authorized share capital is as follows: (in thousands of $, except share data) 2022 2021 300,000,000 common shares of $0.01 par value each (December 31, 2021: 300,000,000 common shares of $0.01 par value each) 3,000 3,000 Issued and fully paid share capital is as follows: (in thousands of $, except share data) 2022 2021 138,562,173 common shares of $0.01 par value each (December 31, 2021: 138,551,387 common shares of $0.01 par value each) 1,386 1,386 The Company's common shares are listed on the New York Stock Exchange. On January 1, 2022, the Company implemented the guidance contained in ASU 2020-06 which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. ASU 2020-06, was adopted using the modified retrospective method (see Note 2: Accounting Policies). Following the adoption, the 4.875% senior unsecured convertible notes due 2023 are reflected entirely as a liability as the embedded conversion feature is no longer presented within stockholders' equity. The cumulative effect of adopting this guidance was an incremental adjustment of $4.3 million to opening retained earnings, and a $5.9 million reduction to additional paid-in capital as of January 1, 2022. This net adjustment to equity of $1.6 million resulted in a corresponding decrease in deferred debt issuance costs. During the year ended December 31, 2022, the Company issued a total of 10,786 new common shares, par value $0.01 per share, following the exercise of 85,500 share options (year ended 2021: cash payment of $0.1 million in lieu of issuing shares after the exercise of 129,000 share options and year ended 2020: 6,869 new common shares issued to satisfy 17,500 options exercised). In November 2016, the board of directors of the Company (the “Board of Directors”) renewed the Company's Share Option Scheme (the "Option Scheme"), originally approved in November 2006. The Option Scheme permits the Board of Directors, at its discretion, to grant options to employees, officers and directors of the Company or its subsidiaries. The fair value cost of options granted is recognized in the statement of operations, and the corresponding amount is credited to additional paid in capital (See also Note 25: Share Option Plan). On April 12, 2022, the Board of Directors authorized a renewal of our dividend reinvestment plan, or DRIP, to facilitate investments by individual and institutional shareholders who wish to invest dividend payments received on shares owned, or other cash amounts, in SFL’s common shares on a regular or one time basis, or otherwise. On April 15, 2022, SFL filed a registration statement on Form F-3ASR (Registration No. 333-237971) to register the sale of up to 10,000,000 common shares pursuant to the DRIP. If certain waiver provisions in the DRIP are requested and granted pursuant to the terms of the plan, we may grant additional share sales to investors, from time to time, up to the amount registered under the plan. In May 2020, we entered into an equity distribution agreement with BTIG LLC ("BTIG") under which the Company may, from time to time, offer and sell new ordinary shares having aggregate sales proceeds of up to $100.0 million through an ATM. In April 2022, we entered into an Amended and Restated ATM with BTIG. Under this agreement, the prior ATM established in May 2020 was terminated and replaced with a renewed ATM program, under which we may continue to offer and sell new common shares having aggregate sales proceeds of up to $100.0 million, from time to time through BTIG. No new common shares were issued and sold under the DRIP and ATM arrangements during the year ended December 31, 2022. During the year ended December 31, 2021, the Company issued and sold 10.7 million shares under these arrangements and total proceeds of $89.4 million net of costs were received, resulting in a premium on issue of $89.3 million. During the year ended December 31, 2020, the Company issued and sold 8.4 million shares under these arrangements and total proceeds of $61.5 million net of costs were received, resulting in a premium on issue of $61.4 million. In October 2021, the Company redeemed the full outstanding amount under the 5.75% senior unsecured convertible bonds due 2021. The remaining outstanding principal amount of $144.7 million was settled in cash. The bonds were convertible into common shares. The initial conversion rate at the time of issuance was 56.2596 common shares per $1,000 bond, equivalent to a conversion price of approximately $17.7747 per share to the share price at the time. Since then, dividend distributions had increased the conversion rate to 65.8012, equivalent to a conversion price of approximately $15.1973 per share, at maturity of the bond. As required by ASC 470-20 "Debt with conversion and Other Options", the Company calculated the equity component of the convertible bond, which was valued at $4.6 million and recorded as "Additional paid-in capital". During the year ended December 31, 2021, the Company purchased bonds with principal amounts totaling $67.6 million. The equity component of these extinguished bonds was valued at $0.4 million and had been deducted from "Additional paid-in capital". In November 2016, in relation with the Company's issue in October 2016 of senior unsecured convertible bonds totaling $225 million, the Company issued 8,000,000 new common shares, par value $0.01 per share. The shares were issued at par value and had been loaned to an affiliate of one of the underwriters of the bond issue, in order to assist investors in the bonds to hedge their position. In December 2021, the Company entered into a general share lending agreement with another counterparty and the 8,000,000 shares were transferred into their custody. It was determined that the transaction qualified for equity classification, and as of the date of inception and as of December 31, 2022 the fair value was determined to be nil (2021: nil). At the Annual General Meeting of the Company held in August 2020, a resolution was passed to approve an increase of the Company’s authorized share capital from $2,000,000 equivalent to 200,000,000 common shares of $0.01 par value each to $3,000,000 equivalent to 300,000,000 common shares of $0.01 par value each by the authorization of an additional 100,000,000 common shares of $0.01 par value each. At the Annual General Meeting of the Company held in September 2018, a resolution was passed to approve an increase of the Company’s authorized share capital from $1,500,000 divided into 150,000,000 common shares of $0.01 par value each to $2,000,000 divided into 200,000,000 common shares of $0.01 par value each by the authorization of an additional 50,000,000 common shares of $0.01 par value each. In April 2018, the Company issued a total of 3,765,842 new common shares, par value $0.01 per share, from up to 7,000,000 issuable under a share lending arrangement in relation with the Company's issuance of 4.875% senior unsecured convertible bonds in April and May 2018. The shares issued have been loaned to affiliates of the underwriters of the bond issue in order to assist investors in the bonds to hedge their position. The bonds are convertible into common shares and mature on May 1, 2023. As required by ASC 470-20 "Debt with Conversion and Other Options", the Company calculated the equity component of the convertible bond, which was valued at $7.9 million at issue date and recorded as "Additional paid-in capital". (See Note 22: Short-Term and Long-Term Debt). During the year ended December 31, 2022, the Company did not purchase any bonds. During the year ended December 31, 2021, the Company purchased bonds with principal amounts totaling $2.0 million. The equity component of these extinguished bonds was valued at $0.1 million and has been deducted from "Additional paid-in capital". During the year ended December 31, 2022, $37.3 million of the dividend declared was paid from contributed surplus (year ended 2021:$77.6 million).

SHARE OPTION PLAN

SHARE OPTION PLAN	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE OPTION PLAN	SHARE OPTION PLAN In November 2006, the Board of Directors approved the Company's Share Option Scheme (the "Option Scheme"). The Option Scheme will expire in November 2026, following the renewal in November 2016. The terms and conditions remain unchanged from those originally adopted in November 2006 and permits the Board of Directors, at its discretion, to grant options to employees, officers and directors of the Company or its subsidiaries. The fair value cost of options granted is recognized in the statement of operations, and the corresponding amount is credited to additional paid-in capital. As of December 31, 2022 additional paid-in capital was credited with $1.4 million relating to the fair value of options granted in January 2019, March 2019, February 2020, May 2021 and February 2022. In February 2022, the Company awarded a total of 435,000 options to officers, employees and directors, pursuant to the Company's Share Option Scheme. The options have a five-year term and a three-year vesting period and the first options will be exercisable from February 2023 onwards. The initial strike price was $8.73 per share. The following summarizes share option transactions related to the Option Scheme in 2022, 2021 and 2020: 2022 2021 2020 Options Weighted average exercise price $ Options Weighted average exercise price $ Options Weighted average exercise price $ Options outstanding at beginning of year 1,433,500 9.65 1,082,500 10.56 835,000 10.72 Granted 435,000 8.73 480,000 8.79 350,000 13.45 Exercised (85,500) 8.87 (129,000) 7.48 (17,500) 8.63 Forfeited — — — — (85,000) 11.02 Options outstanding at end of year 1,783,000 8.55 1,433,500 9.65 1,082,500 10.56 Exercisable at end of year 919,667 9.00 578,500 10.02 418,167 9.45 The exercise price of each option is progressively reduced by the amount of any dividends declared. The above figures show the average of the reduced exercise prices at the beginning and end of the year for options then outstanding. For options granted, exercised or forfeited during the year, the above figures show the average of the exercise prices at the time the options were granted, exercised or forfeited, as appropriate. The fair values of options granted are estimated on the date of the grant, using the Black-Scholes-Merton option valuation model. The fair values are then expensed over the periods in which the options vest. The weighted average fair value of options granted in 2022 was $3.06 per share as of grant date (2021: $2.87; 2020: $1.76). The weighted average assumptions used to calculate the fair values of the new options granted in 2022 were (a) risk free interest rate of 1.80% (2021: 0.33%; 2020: 1.40%); (b) expected share price volatility of 45.6% (2021: 44.6%; 2020: 21.6%); (c) expected dividend yield of 0% (2021: 0%; 2020: 0%) and (d) expected life of options 3.5 years (2021: 3.5 years; 2020: 2.0 years). The total intrinsic value of 85,500 options exercised in 2022 was $0.1 million on the day of exercise and the Company issued a total of 10,786 new common shares in full satisfaction of this intrinsic value, with no cash exchanges. The total intrinsic value of 129,000 options exercised in 2021 was $0.1 million on the day of exercise and the Company made a cash payment of $0.1 million in lieu of issuing shares under the Option Scheme. The total intrinsic value of 17,500 options exercised in 2020 was $0.2 million on the day of exercise and the Company issued a total of 6,869 new common shares in full satisfaction of this intrinsic value, with no cash exchanges. As of December 31, 2022, there are 919,667 options fully vested but not exercised (2021: 578,500 options; 2020: 418,167 options) and their intrinsic value amounted to $0.2 million (2021:$0.0 million; 2020: $0.0 million). The weighted average remaining term of the vested exercisable options is 1.7 years as of December 31, 2022. As of December 31, 2022, the unrecognized compensation costs relating to non-vested options granted under the Option Scheme was $1.0 million (2021: $1.0 million; 2020: $0.7 million) and their intrinsic value amounted to $1.0 million (2021: $0.0 million; 2020: $0.0 million). This cost will be recognized over the remaining vesting periods, which average 1.2 years (2021: 0.9 years; 2020: 0.7 years). During the year ended December 31, 2022, the Company recognized a net expense of $1.4 million in compensation cost relating to the stock options (year ended 2021: $1.0 million; year ended 2020: $0.9 million).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	24 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has had transactions with the following related parties, being companies in which our principal shareholder Hemen Holding and companies associated with Hemen have, or had, a significant direct or indirect interest: – Frontline – Frontline Shipping – Seadrill (1) – Golden Ocean – Seatankers Management Co. Ltd. (“Seatankers”) – Front Ocean Management AS and Front Ocean Management Ltd. (collectively “Front Ocean”) – NorAm Drilling – ADS Maritime Holding – River Box – Sloane Square Capital Holdings Ltd. (“Sloane Square Capital”) (1) From February 2022, Seadrill was determined to no longer be a related party following its emergence from bankruptcy (see below). The Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding investment in direct financing lease balances. (Refer to Note 18: Investments in Sales-Type Leases, Direct Financing Leases and Leaseback Assets). (in thousands of $) 2022 2021 Amounts due from: Frontline 3,854 3,633 Seadrill — 3,643 Golden Ocean 374 4,453 Seatankers — 77 Sloane Square Capital 183 — River Box 10 5 Other related parties 1 1 Allowance for expected credit losses* (30) (3,255) Total amount due from related parties 4,392 8,557 Loans to related parties - associated companies, long-term River Box 45,000 45,000 Total loans to related parties - associated companies, long-term 45,000 45,000 Amounts due to: Frontline Shipping 1,788 1,252 Frontline 2 2 Golden Ocean 141 36 Other related parties 5 5 Total amount due to related parties 1,936 1,295 *See Note 3: Recently Issued Accounting Standards and Note 28: Allowance for Expected Credit Losses. River Box was a previously wholly owned subsidiary of the Company. It 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 . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. Net proceeds of $17.5 million were received for the shares, resulting in a net gain of $1.9 million on the sale. The Company has accounted for the remaining 49.9% ownership in River Box using the equity method. (Refer to Note 19: Investment in Associated Companies). The two drilling units owned by the Company, Linu s and Hercules , were leased to subsidiaries of Seadrill, previously a related party. Linus was redelivered from Seadrill in September 2022 and Hercules was redelivered from Seadrill in December 2022. SFL also owned the drilling unit West Taurus, which was also on charter to a subsidiary of Seadrill until the first quarter of 2021. Because the main assets of SFL Deepwater, SFL Hercules and SFL Linus were the subject of leases which each include both fixed price call options and a fixed price purchase obligation or put option, they were previously determined to be variable interest entities in which the Company was not the primary beneficiary and therefore accounted for as investments in associated companies. (Refer to Note 19: Investment in Associated Companies). In September and October 2020, Seadrill failed to pay hire when due under the leases for the three drilling units. The overdue hires together with certain other events, constituted an event of default. In February 2021, Seadrill and most of its subsidiaries filed Chapter 11 cases in the Southern District of Texas. SFL and certain of its subsidiaries entered into court approved interim agreements with Seadrill relating to two of the Company’s drilling rigs, Linus and Hercules. The lease to West Taurus was rejected by the court in March 2021 and the rig was redelivered by Seadrill to SFL in the second quarter of 2021. In March 2021, the Company signed an agreement for the recycling of the rig at a facility in Turkey and delivered the rig to the recycling facility in September 2021. The asset was derecognized on disposal and a net loss of $0.6 million was recorded in relation to the recycling of the rig. (Refer to Note 9: Gain on Sale of Assets and Termination of Charters). On February 22, 2022, Seadrill announced that it has emerged from Chapter 11 after successfully completing its reorganization. Upon emergence a new independent board of directors assumed leadership of the new parent company of the Seadrill group, which is referred to as Seadrill 2021 Limited. Hemen's shareholding in Seadrill 2021 Limited post-emergence from bankruptcy is also below 1%. Consequently, SFL determined that Seadrill is no longer a related party following the emergence from bankruptcy. During the year ended December 31, 2021 and following amendments to the Hercules bareboat charter and loan facility agreements, SFL Hercules was determined to no longer be a variable interest entity and was consolidated from August 2021. During the year ended December 31, 2020, following changes to the loan agreement, the Company was determined to be the primary beneficiary of SFL Linus and was consolidated from October 2020. SFL Deepwater was also consolidated from October 2020 as the Company was deemed to be the primary beneficiary from this date. Related party leasing and service contracts The Company owned two VLCCs accounted for as direct financing leases, which were leased to Frontline Shipping. As of December 31, 2021, the balance of net investments in direct financing leases with Frontline Shipping was $69.8 million before credit loss provision, of which $6.5 million represented short-term maturities. During the year ended December 31, 2022, the vessels were sold and delivered to an unrelated third party and a gain of $1.5 million was recognized on the sale of the vessels. The Company also received an additional compensation payment of $4.5 million from Frontline Shipping, for the early termination of the corresponding charters. (See Note 9: Gain on Sale of Assets and Termination of Charters). As of December 31, 2022, included within vessels, rigs and equipment chartered under operating leases, there were eight Capesize dry bulk carriers leased to a fully guaranteed subsidiary of Golden Ocean (2021: eight). As of December 31, 2022, the net book value of assets leased under operating leases to Golden Ocean was $162.1 million (2021: $181.3 million). In addition, the two drilling rigs owned by the Company were leased to subsidiaries of Seadrill, previously a related party, under operating leases. As of December 31, 2021, the net book value of the assets leased under operating leases to Seadrill was $599.3 million. Seadrill was determined to no longer be a related party following its emergence from bankruptcy on February 22, 2022. A summary of leasing revenues and repayments from Frontline Shipping, Golden Ocean and Seadrill is as follows: (in millions of $) 2022 2021 2020 Golden Ocean: Operating lease income 52.3 50.5 52.0 Profit share 3.0 9.8 — Frontline Shipping: Direct financing lease interest income 0.4 1.5 1.7 Direct financing lease service revenue 1.7 6.6 6.9 Direct financing lease repayments 1.8 6.3 6.5 Profit share — 0.3 18.6 Seadrill: Direct financing lease interest income — 3.7 3.5 Direct financing lease repayments — 2.7 2.8 Operating lease income 17.8 28.9 — In June 2015, amendments were made to the charter agreements relating to 17 vessels. The amendments, which are effective from July 1, 2015, and do not affect the duration of the leases, include reductions in the daily time charter rates to $20,000 per day for VLCCs and $15,000 per day for Suezmax tankers. As consideration for the agreed amendments, the Company received 55 million shares, (which was reduced to 11 million shares in February 2016 after Frontline enacted a 1-for-5 reverse stock split of its ordinary shares) and also an increase in the profit sharing percentage (see below). A dividend restriction was introduced on Frontline Shipping whereby it can only make distributions to its parent company if it can demonstrate it meets certain conditions. During the year ended December 31, 2020, the Company sold approximately 2.0 million shares. The Company also had a forward contract to repurchase the remaining 1.4 million shares of Frontline at a repurchase price of $16.7 million including accrued interest. The transaction had been accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability recorded within debt. In September 2022, the Company settled the forward contract in full and recorded the sale of the 1.4 million shares and extinguishment of the corresponding debt of $15.6 million. The net amount outstanding as of December 31, 2022 was $0.0 million (2021: $15.6 million). A net gain of $4.6 million was recognized in the Statements of Operations in respect of the settlement. (See Note 12: Investments in Debt and Equity Securities). In 2019, SFL entered into an agreement with Golden Ocean, where the Company agreed to finance EGCS installations on seven of the eight Capesize bulk carriers with an amount of up to $2.5 million per vessel, in return for increased charter hire of $1,535 per day for the 1 January 2020 to 30 June 2025. The installations were completed during the year ended December 31, 2020, with the cost being capitalized into the value of the assets. Profits sharing arrangements were not changed. In the year ended December 31, 2022, the Company had eight dry bulk carriers operating on time charters to a subsidiary of Golden Ocean, which include profit sharing arrangements whereby the Company earns a 33% share of profits earned by the vessels above threshold levels - see table above. The Company also had a profit sharing arrangement related to the two VLCCs on charter to Frontline Shipping, whereby the Company was entitled to profit sharing of 50% of their earnings on a time charter equivalent basis from their use of the Company's fleet above average threshold charter rates calculated on a quarterly basis. The Company earned and recognized profit sharing revenue under the 50% arrangement - see table above. In the event that vessels on charter to the Frontline Shipping are agreed to be sold, the Company may either pay or receive compensation for the early termination of the lease. During the year ended December 31, 2022, the Company sold the VLCCs Front Energy and Front Force to an unrelated third party and a termination fee of $4.5 million was received from Frontline Shipping. (See Note 9: Gain on Sale of Assets and Termination of Charters). As of December 31, 2022, the Company owed a total of $1.8 million (2021: $1.3 million) to Frontline Shipping in respect of vessel management fees, technical supervision fees and items relating to the operation of the vessels. As of December 31, 2022, the Company was owed $3.9 million (2021: $3.6 million) by Frontline in respect of various short-term items, including administration recharges and items relating to the operation of vessels trading in a pool with two vessels owned by Frontline. The vessels leased to Frontline Shipping were on time charter terms and for each such vessel the Company paid a fixed management/operating fee of $9,000 per day to Frontline Management (Bermuda) Ltd. (“Frontline Management”), a wholly owned subsidiary of Frontline. No further fees were paid to Frontline Management after April 2022, following the sale of the final two vessels on charter to Frontline Shipping. In addition, during the year ended December 31, 2022, the Company also had 23 container vessels, seven dry bulk carriers, nine Suezmax tankers, three car carriers, six product tankers and two chemical tankers operating on time charter or in the spot market, for which the supervision of the technical management was sub-contracted to Frontline Management. Management fees incurred are included in the table below. The vessels leased to a subsidiary of Golden Ocean are on time charter terms and for each vessel the Company pays a fixed management/operating fee of $7,000 per day to Golden Ocean Management. Management fees incurred are included in the table below. Management fees are classified as vessel operating expenses in the Consolidated Statements of Operations. In addition to leasing revenues and repayments, the Company incurred fees with related parties. The Company pays Frontline and its subsidiaries a management fee of 1.25% of chartering revenues in relation to two Suezmax tankers operating in the spot market and a fixed management fee of $150 per day in relation to six product tankers and nine Suezmax tankers. The Company pays fees to Frontline Management for administrative services, including corporate services, and fees to Seatankers for the provision of advisory and support services. The Company also pays fees to Seatankers Management Norway AS for the provision of office facilities in Oslo, fees to Golden Ocean Shipping Co Pte. Ltd. and Frontline Shipping Singapore Pte Ltd. for the provision of office facilities in Singapore, fees to Frontline Corporate Services Ltd for the provision of office facilities in London and Golden Ocean for administrative services. Year ended (in thousands of $) December 31, 2022 December 31, 2021 December 31, 2020 Frontline: Vessel Management Fees 3,679 7,794 8,893 Newbuilding Supervision Fees 1,030 132 — Commissions and Brokerage 498 260 364 Administration Services Fees 7 159 82 Golden Ocean: Vessel Management Fees 20,440 20,440 20,496 Operating Management Fees 22 389 887 Administration Services Fees — 56 70 Seatankers: Administration Services Fees* 428 226 520 Front Ocean: Administration Services Fees 483 23 — Office Facilities: Seatankers Management Norway AS 106 112 94 Frontline Management AS 341 252 186 Frontline Corporate Services Ltd. 93 187 226 Frontline Shipping Singapore Pte Ltd. — 19 — Golden Ocean Shipping Co Pte. Ltd. 80 — — Flex LNG Management Ltd 3 — — * During the year ended December 31, 2021, a credit note of $0.3 million was received in relation to 2020 fees paid. Related party loans – associated companies A summary of loans entered into with the associated companies are as follows: (in millions of $) River Box Loans granted 45 Loans outstanding as of December 31, 2022 45 The loan to River Box is a fixed interest rate loan and is repayable in full on November 16, 2033, or earlier if the company sells its assets. Interest income received on the loans to associated companies is as follows: Year ended (in millions of $) December 31, 2022 December 31, 2021 December 31, 2020 River Box 4.6 4.6 — SFL Deepwater — — 3.8 SFL Hercules — 2.4 3.6 SFL Linus — — 4.5 Related party purchases and sales of vessels During the year ended December 31, 2021, the Company entered into agreement to acquire four Aframax LR2 product tankers from affiliates of Frontline, for an aggregate amount of $160.0 million. Two of the vessels were delivered in December 2021 and the remaining two vessels were delivered in January 2022 and February 2022. Upon delivery, the vessels commenced their long term charters to a third party. In the years ended December 31, 2022 and December 31, 2021, there were no vessels sold to related parties. Long-term receivables from related parties During the year ended December 31, 2020, Frontline Shipping redeemed in full the loan note received by the Company on the sale of one VLCC in 2018. The aggregate amount received on redemption was $8.9 million and a gain of $4.4 million arose on settlement. Interest of $0.1 million was received during the year ended December 31, 2020. During the year ended December 31, 2020, Frontline redeemed in full the loan notes received by the Company on the sale of four VLCCs in 2018. The aggregate amount received on redemption was $11.0 million. At the time of the redemption, the loan notes had a carrying value of $11.0 million, and a gain of $0.0 million arose on disposal. Interest of $0.1 million was received during the year ended December 31, 2020. Other related party transactions In February 2020, the Company delivered the 2002-built VLCC Front Hakata to an unrelated third party for sale proceeds of $33.5 million. Furthermore, the Company agreed with Frontline Shipping to terminate the long-term charter for the vessel upon the sale and delivery, and paid $3.2 million compensation for early termination of the charter. A gain of $1.4 million was recognized on the sale during the year ended December 31, 2020. In August 2018, the Company acquired approximately 4 million shares in ADS Maritime Holding, a newly formed company trading on the Oslo Merkur Market. The shares were purchased for $10.0 million, and had a fair value of $8.9 million as of December 31, 2020. (Refer to Note 12: Investments in Debt and Equity Securities). These shares represented 17% of the outstanding shares in the company. During the year ended December 31, 2021, the Company received a capital dividend of approximately $8.8 million from ADS Maritime Holding following the sale of its remaining two vessels. Also during the year ended December 31, 2021, the Company sold its remaining shares in ADS Maritime Holding for a consideration of approximately $0.8 million, recognizing a gain of $0.7 million on disposal. (Refer to Note 12: Investments in Debt and Equity Securities). In November 2016, the Company acquired approximately 12 million shares in NorAm Drilling for a consideration of approximately $0.7 million. In November 2018, NorAm Drilling undertook a share consolidation of 20:1, resulting in a revised investment of 601,023 shares. On the same day NorAm Drilling participated in a rights issue, increasing the Company's investment in shares by approximately 0.6 million shares. In December 2018, the Company acquired an additional 41,756 shares bringing the total investment in NorAm Drilling to approximately 1.3 million shares with a fair value of $3.9 million. As of December 31, 2022 the fair value of the investment was $7.3 million. (Refer to Note 12: Investments in Debt and Equity Securities). The Company held within "Investments in Debt and Equity Securities" senior secured corporate bonds in NorAm Drilling. In 2018, the Company redeemed a total of approximately 0.5 million units at par value and recorded no gain or loss on redemption. In the year ended December 31, 2019, the Company partially disposed of its investment in NorAm Drilling securities at par value of $0.3 million. As of December 31, 2021, the fair value of the remaining holding was $4.6 million. During the year ended December 31, 2022, the Company redeemed the remaining balance of its investment in NorAm Drilling securities at par value. The Company recorded no gain or loss on redemption of the bonds. The accumulated gain of $0.5 million previously recognized in other comprehensive income was recognized in the Consolidated Statements of Operations. (Refer to Note 12: Investments in Debt and Equity Securities). Dividends and interest income received from shares held in and secured notes issued by related parties: Year ended (in thousands of $) December 31, 2022 December 31, 2021 December 31, 2020 Dividends received ADS Maritime Holding — — 2,930 Frontline — — 3,100 NorAm Drilling 128 — — Interest income received NorAm Drilling 463 443 420

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS In certain situations, the Company may enter into financial instruments to reduce the risk associated with fluctuations in interest rates and exchange rates. The Company has a portfolio of swaps which swap floating rate interest to fixed rate, and which also fix the Norwegian kroner to US dollar exchange rate applicable to the interest payable and principal repayment on the NOK bonds. From a financial perspective these swaps hedge interest rate and exchange rate exposure. As of December 31, 2022, the counterparties to such contracts are DNB Bank ASA, Nordea Bank Finland Plc., Skandinaviska Enskilda Banken AB (publ), Danske Bank A/S and Sumitomo Mitsui Banking Corporation. Credit risk exists to the extent that the counterparties are unable to perform under the contracts, but this risk is considered not to be substantial as the counterparties are all banks which have provided the Company with loans. The following tables present the fair values of the Company's derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated: (in thousands of $) 2022 2021 Designated derivative instruments -short-term assets: Interest rate swaps 1,229 — Non-designated derivative instruments -short-term assets: Interest rate swaps 707 — Total derivative instruments -short-term assets 1,936 — Designated derivative instruments -long-term assets: Interest rate swaps 12,963 2,077 Cross currency swaps — 1,019 Non-designated derivative instruments -long-term assets: Interest rate swaps 13,753 88 Total derivative instruments - long-term assets 26,716 3,184 (in thousands of $) 2022 2021 Designated derivative instruments -short-term liabilities: Interest rate swaps — 68 Cross currency interest rate swaps 2,260 — Cross currency swaps 14,601 — Non-designated derivative instruments -short-term liabilities: Interest rate swaps — 670 Total derivative instruments - short-term liabilities 16,861 738 Designated derivative instruments -long-term liabilities: Interest rate swaps — 2,316 Cross currency interest rate swaps 4,054 2,685 Cross currency swaps 10,233 10,038 Non-designated derivative instruments -long-term liabilities: Interest rate swaps — 2,159 Cross currency swaps 70 11 Total derivative instruments - long-term liabilities 14,357 17,209 Interest rate risk management The Company manages its debt portfolio with interest rate swap agreements denominated in U.S. dollars and Norwegian kroner to achieve an overall desired position of fixed and floating interest rates. As of December 31, 2022, the Company and its consolidated subsidiaries had entered into interest rate swap transactions, involving the payment of fixed rates in exchange for LIBOR or NIBOR, as summarized below. The summary includes all swap transactions, most of which are hedges against specific loans. Notional Principal (in thousands of $) Trade date Maturity date Fixed interest rate $100,000 (remaining at $100,000) March 2013 April 2023 1.85% - 1.97% $56,000 (remaining at $56,000) June 2019 September 2023 1.84% † $14,699 (equivalent to NOK128 million) June 2019 September 2023 6.70% - 6.77% * $11,254 (equivalent to NOK100 million) August 2019 September 2023 6.378% * $30,000 (remaining at $30,000) May 2019 June 2024 2.15% † $48,332 (equivalent to NOK420 million) May 2019 June 2024 6.85% - 6.90% * $100,000 (remaining at $100,000) August 2019 August 2029 1.45% - 1.60% $67,500 (remaining at $67,500) January 2020 October 2024 1.40% † $127,668 (reducing to $92,233) April 2020 January 2025 0.46% - 0.47% * These swaps relate to the NOK700 million and NOK700 million unsecured bonds due 2023 and 2024 respectively, whereby the fixed interest rate paid is exchanged for NIBOR plus the margin on the bond. † These swaps relate to the NOK700 million, NOK700 million and NOK600 million unsecured bonds due 2023, 2024 and 2025 respectively, where a fixed interest rate is paid in exchange for LIBOR excluding margin on the underlying bonds. The total net notional principal amount subject to interest swap agreements as of December 31, 2022, was $0.6 billion (2021: $0.7 billion). Foreign currency risk management The Company is party to currency swap transactions, involving the payment of U.S. dollars in exchange for Norwegian kroner and the payment of Norwegian kroner in exchange for U.S. dollars, which are designated as hedges against the NOK700 million, NOK700 million and NOK600 million senior unsecured bonds due 2023, 2024 and 2025 respectively. Principal Receivable Principal Payable Trade date Maturity date NOK600 million US$76.8 million September 2018 September 2023 NOK100 million US$11.3 million August 2019 September 2023 NOK700 million US$80.5 million May 2019 June 2024 NOK600 million US$67.5 million January 2020 January 2025 Apart from the NOK700 million, NOK700 million and NOK600 million senior unsecured bonds due 2023, 2024 and 2025, respectively, the majority of the Company's transactions, assets and liabilities are denominated in U.S. dollars, the functional currency of the Company. Other than the corresponding currency swap transactions summarized above, the Company has not entered into forward contracts for either transaction or translation risk. Accordingly, there is a risk that currency fluctuations could have an adverse effect on the Company's cash flows, financial condition and results of operations. Fair Values The carrying value and estimated fair value of the Company's financial assets and liabilities as of December 31, 2022, and 2021, are as follows: 2022 2022 2021 2021 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale debt securities — — 9,680 9,680 Equity Securities 7,283 7,283 1,292 1,292 Equity securities pledged to creditors — — 10,238 10,238 NOK700 million senior unsecured floating rate bonds due 2023 71,243 71,421 79,507 79,586 NOK700 million senior unsecured floating rate bonds due 2024 70,734 70,734 78,939 79,077 NOK600 million senior unsecured floating rate bonds due 2025 60,048 60,348 61,334 60,133 4.875% unsecured convertible bonds due 2023 137,900 137,211 137,900 138,727 7.25% unsecured sustainability linked bonds due 2026 150,000 144,188 150,000 153,563 Derivatives: Interest rate/ currency swap contracts – short-term receivables 1,936 1,936 — — Interest rate/ currency swap contracts – long-term receivables 26,716 26,716 3,184 3,184 Interest rate/ currency swap contracts – short-term payables 16,861 16,861 738 738 Interest rate/ currency swap contracts – long-term payables 14,357 14,357 17,209 17,209 The above short-term receivables relating to interest rate/ currency swap contracts as of December 31, 2022, include $0.7 million which relates to non-designated swap contracts (2021: $0.0 million), with the balance relating to designated hedges. The above long-term receivables relating to interest rate/ currency swap contracts as of December 31, 2022, include $13.8 million which relates to non-designated swap contracts (2021: $0.1 million), with the balance relating to designated hedges. The above short-term payables relating to interest rate/ currency swap contracts as of December 31, 2022, include $0.0 million which relates to non-designated swap contracts (2021: $0.7 million), with the balance relating to designated hedges. The above long-term payables relating to interest rate/ currency swap contracts as of December 31, 2022, include $0.1 million which relates to non-designated swap contracts (2021: $2.2 million), with the balance relating to designated hedges. In accordance with the accounting policy relating to interest rate and currency swaps (See Note 2: Accounting Policies), and following the adoption of ASU 2017-12, where the Company has designated the swap as a hedge, changes in the fair values of interest rate swaps are recognized in other comprehensive income. Changes in the fair value of other swaps not designated as hedges are recognized in the Consolidated Statements of Operations. The above fair values of financial assets and liabilities as of December 31, 2022, are measured as follows: Fair value measurements using December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Equity securities 7,283 7,283 Interest rate/ currency swap contracts – short-term receivables 1,936 1,936 Interest rate/ currency swap contracts - long-term receivables 26,716 26,716 Total assets 35,935 7,283 28,652 — Liabilities: NOK700 million senior unsecured floating rate bonds due 2023 71,421 71,421 NOK700 million senior unsecured floating rate bonds due 2024 70,734 70,734 NOK600 million senior unsecured floating rate bonds due 2025 60,348 60,348 4.875% unsecured convertible bonds due 2023 137,211 137,211 7.25% unsecured sustainability linked bonds due 2026 144,188 144,188 Interest rate/ currency swap contracts – short-term payables 16,861 16,861 Interest rate/ currency swap contracts – long-term payables 14,357 14,357 Total liabilities 515,120 483,902 31,218 — The above fair values of financial assets and liabilities as of December 31, 2021, were measured as follows: Fair value measurements using December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale debt securities 9,680 4,619 5,061 Equity securities 1,292 1,292 Equity securities pledged to creditors 10,238 10,238 Interest rate/ currency swap contracts – long-term receivables 3,184 3,184 Total assets 24,394 16,149 8,245 — Liabilities: NOK700 million senior unsecured floating rate bonds due 2023 79,586 79,586 NOK700 million senior unsecured floating rate bonds due 2024 79,077 79,077 NOK600 million senior unsecured floating rate bonds due 2025 60,133 60,133 4.875% unsecured convertible bonds due 2023 138,727 138,727 7.25% unsecured sustainability linked bonds due 2026 153,563 153,563 Interest rate/ currency swap contracts – short-term payables 738 738 Interest rate/ currency swap contracts – long-term payables 17,209 17,209 Total liabilities 529,033 511,086 17,947 — ASC Topic 820 "Fair Value Measurement and Disclosures" ("ASC 820") emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within levels one and two of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within level three of the hierarchy). Level 1 inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in level one that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability, other than quoted prices, such as interest rates, foreign exchange rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the assets or liabilities, which typically are based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Investment in equity securities consist of NorAm Drilling shares traded in the OTC market at December 31, 2022. During the year ended December 31, 2022, the Company recorded the sale of its shares in Frontline, recognizing a gain of $4.6 million on disposal. (Refer to Note 12: Investments in Debt and Equity Securities). During the year ended December 31, 2022, the available for sale corporate bonds held in NT Rig Holdco were fully redeemed. As of December 31, 2021, the Company determined that the bonds held in NT Rig Holdco valued at $5.1 million should be classified as Level 2 measurements. The fair value of these corporate bonds was based on the latest available quoted prices, but due to low levels of trading the Company concluded that level one classification was not appropriate as of December 31, 2021. The estimated fair values for the floating rate NOK bonds due 2023, 2024 and 2025, the 4.875% unsecured convertible bonds and the 7.25% unsecured sustainability linked bonds due 2026 are based on the quoted market prices as of the balance sheet date. The fair value of interest rate and currency swap contracts is calculated using established independent valuation techniques applied to contracted cash flows and LIBOR/NIBOR interest rates as of the balance sheet date. Concentrations of risk There is a concentration of credit risk with respect to cash and cash equivalents to the extent that amounts are carried with Skandinaviska Enskilda Banken, ABN AMRO, Nordea, Credit Agricole Corporate and Investment Bank, Danske Bank A/S, BNPP Bank, Credit Suisse, Morgan Stanley and DNB Bank. However, the Company believes this risk is remote, as these financial institutions are established and reputable establishments with no prior history of default. The Company does not require collateral or other securities to support financial instruments that are subject to credit risk however certain of the Company’s counterparties require the Company to periodically post collateral when the fair value of the financial instruments exceeds or is below specified thresholds. As of December 31, 2022 and 2021, the Company posted cash collateral related to derivative instruments under its collateral security arrangements of $8.8 million and $10.4 million, respectively, which is recorded within Other long term assets in the consolidated balance sheets. (Refer to Note 17: Other Long Term Assets). The Company also sometimes enter into master netting and offset agreements with such counterparties. As of December 31, 2022, the Company has International Swaps and Derivatives Association (“ISDA”) agreements with its swap counterparties which contain netting provisions. There is also a concentration of revenue risk with the below customers: Charterer Number of Vessels /rigs chartered as of December 31, 2022 % of consolidated operating revenues (Year ended December 31, 2022) Number of Vessels /rigs chartered as of December 31, 2021 % of consolidated operating revenues (Year ended December 31, 2021) Maersk A/S (“Maersk”) 16 31 % 15 32 % Evergreen Marine Corporation (Taiwan) Ltd. and its affiliate Evergreen Marine (Singapore) Pte Ltd. (collectively “Evergreen”) 6 15 % 6 15 % Trafigura Maritime Logistics Pte Ltd (“Trafigura”) 7 9 % 3 — % Golden Ocean* 8 8 % 8 12 % Conocophillips Skandinavia AS ("Conocophillips")** 1 3 % — — % MSC 9 1 % 10 2 % * Additionally see Note 26: Related Party Transactions. ** In September 2022, the drilling rig Linus was redelivered from Seadrill to SFL. Concurrently, the drilling contract of Linus with ConocoPhillips was assigned from Seadrill to the Company. In addition, a significant portion of our net income is generated from our associated company, River Box, which was a previously wholly owned subsidiary of the Company. 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 . On December 31, 2020, the Company sold 50.1% of the shares of River Box to a subsidiary of Hemen, a related party. The Company has accounted for the remaining 49.9% ownership in River Box using the equity method. (See Note 19: Investment in Associated Companies). In the year ended December 31, 2022, income from River Box accounted for approximately 4% of our net income (2021: 5%). As discussed in Note 26: Related Party Transactions, the Company, as of December 31, 2022, had net outstanding receivable balance on loans granted by the Company to River Box totaling $45.0 million (2021: $45.0 million). The loans granted by the Company are considered not impaired as of December 31, 2022 due to the fair value of the vessels owned by River Box exceeding the book values as of December 31, 2022.

ALLOWANCE FOR EXPECTED CREDIT L

ALLOWANCE FOR EXPECTED CREDIT LOSSES	12 Months Ended
	Dec. 31, 2022
Credit Loss [Abstract]
ALLOWANCE FOR EXPECTED CREDIT LOSSES	ALLOWANCE FOR EXPECTED CREDIT LOSSESThe Company records an allowance for expected credit losses based on an assessment of the impact of current and expected future conditions, inclusive of the Company's estimate of the potential impacts of the COVID-19 pandemic, Russian-Ukrainian conflict and significant global inflationary pressures on credit losses. The effect of these are subject to significant judgment and may cause variability in the Company’s allowance for credit losses in future periods. Movements in the allowance for expected credit losses may result in gains as well as losses recorded in income as changes occur in the balances of our financial assets and the risk profiles of our counterparties. The following table presents the impact of the allowance for expected credit losses on the Company's balance sheet line items for the year ended December 31, 2022. (in thousands of $) Trade receivables Other receivables Related Party receivables Investment in sales-type, direct financing leases and leaseback assets Other long-term assets Total Balance as of December 31, 2021 96 486 3,255 1,263 1,888 6,988 Derecognition of Seadrill credit loss balances — — (3,200) — — (3,200) Change in allowance recorded in 'other financial items' 164 418 (25) (1,071) (8) (522) Balance as of December 31, 2022 260 904 30 192 1,880 3,266 The impact of the allowance for expected credit losses on the associates is disclosed in Note 19: Investment in Associated Companies. During the year ended December 31, 2022, credit loss balances of $3.2 million were derecognized as Seadrill emerged from Chapter 11 in February 2022. Also, during the year ended December 31, 2022, SFL determined that Seadrill is no longer a related party following the emergence from bankruptcy. (See also Note 26: Related Party Transactions).

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Assets Pledged (in millions of $) 2022 2021 Vessels, rigs and equipment, net 2,460 2,107 Investments in sales-type, direct financing leases and leaseback assets 119 203 Book value of consolidated assets pledged under ship mortgages 2,579 2,310 Assets with finance lease liabilities (in millions of $) 2022 2021 Vessels under finance lease, net 615 656 Total book value 615 656 The Company has funded its acquisition of vessels, jack-up rig and ultra-deepwater drilling unit through a combination of equity, short-term debt and long-term debt. Providers of long-term loan facilities usually require that the loans be secured by mortgages against the assets being acquired. As of December 31, 2022, the Company had $2.2 billion (2021: $1.9 billion) of outstanding principal indebtedness under various credit facilities and finance lease liabilities of $0.5 billion (2021: $0.5 billion). The Company previously had a forward contract to repurchase 1.4 million shares of Frontline at a repurchase price of $16.7 million including accrued interest. The transaction was accounted for as a secured borrowing, with the shares transferred to 'Marketable securities pledged to creditors' and a liability recorded within debt. In September 2022, the Company settled the forward contract in full and recorded the sale of the 1.4 million shares and extinguishment of the corresponding debt of $15.6 million. The net amount outstanding as of December 31, 2022 was $0.0 million ( December 31, 2021 : $15.6 million ). A net gain of $4.6 million was recognized in the Consolidated Statements of Operations in respect of the settlement. (See also Note 12: Investments in Debt and Equity Securities, Note 22: Short-term and Long-term Debt and Note 26: Related Party Transactions ). Other Contractual Commitments and Contingencies The Company has arranged insurance for the legal liability risks for its shipping activities with Gard P.& I. (Bermuda) Ltd., Assuranceforeningen Skuld (Gjensidig), The Steamship Mutual Underwriting Association Limited, North of England P&I Association Limited, The Standard Club Europe Ltd, The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited and The Britannia Steam Ship Insurance Association Limited, all of which are mutual protection and indemnity associations. The Company is subject to calls payable to the associations based on the Company’s claims record in addition to the claims records of all other members of the associations. A contingent liability exists to the extent that the claims records of the members of the associations in the aggregate show significant deterioration, which may result in additional calls on the members. Capital commitments As of December 31, 2022, the Company had committed to paying approximately $35.3 million towards the procurement of scrubbers on six vessels owned or leased-in by the Company, with installations expected to take place up to the end of 2024 (December 31, 2021: no capital commitments). The cost is refundable by the charterer of the vessels. As of December 31, 2022, the Company has committed to paying $1.6 million towards the installation of BWTS on two vessels from its fleet (December 31, 2021: $2.7 million on five vessels), with installations expected to take place up to 2023. As of December 31, 2022, the Company had commitments under shipbuilding contracts to construct four newbuilding dual-fuel 7,000 CEU car carriers designed to use liquefied natural gas ("LNG"), totaling to $209.7 million (December 31, 2021: $254.2 million). Two of the vessels are expected to be delivered in 2023 and will immediately commence a 10-year period time charter with Volkswagen Group. The remaining two vessels are expected to be delivered in 2024 and will immediately commence a 10-year period time charter with K Line. (Refer to Note 15: Capital Improvements, Newbuildings and Vessel Purchase Deposits). There were no other material contractual commitments as of December 31, 2022. The Company is routinely party both as plaintiff and defendant to lawsuits in various jurisdictions under charter hire obligations arising from the operation of its vessels in the ordinary course of business. The Company believes that the resolution of such claims will not have a material adverse effect on its results of operations or financial position. The Company has not recognized any contingent gains or losses arising from the pending results of any such lawsuits.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2022
CONSOLIDATED VARIABLE INTEREST ENTITIES [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITIES	CONSOLIDATED VARIABLE INTEREST ENTITIES As of December 31, 2022, the Company's consolidated financial statements included 35 variable interest entities , all of which had been determined that the Company is the primary beneficiary. These variable interest entities are all wholly-owned subsidiaries and own vessels with existing charters during which related and third parties have fixed price options or obligations to purchase the respective vessels, at dates varying from May 2023 to November 2028. As of December 31, 2022, eight of the consolidated variable interest entities have vessels which are accounted for as investments in sales-type leases, direct financing leases and leaseback assets. As of December 31, 2022, the vessels had a carrying value of $103.0 million before credit loss provision, unearned lease income of $18.7 million and total option prices at the earliest exercise date of $84.3 million. The outstanding loan balances in these entities amounted to a total of $80.6 million, of which the short-term portion was $7.8 million as of December 31, 2022. As of December 31, 2022, 24 fully consolidated variable interest entities each own vessels which are accounted for as operating lease assets. As of December 31, 2022 the vessels had a total net book value of $958.0 million. The outstanding loan balances in these entities amounted to a total of $606.5 million, of which the short-term portion was $208.7 million as of December 31, 2022. The remaining three consolidated variable interest entities each own vessels which are accounted for as vessels under finance lease and had a total net book value of $251.7 million as of December 31, 2022. The outstanding total finance lease liabilities for these entities amounted to $190.8 million, of which the short-term portion was $22.0 million as of December 31, 2022.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In January 2023, the Company issued a new In January 2023, the Company agreed to sell a 2009-built Suezmax tanker, Glorycrown, for gross sales proceeds of $43.5 million. The vessel was delivered to the new owner on March 9, 2023. On February 15, 2023, the Board of Directors declared a dividend of $0.24 per share which will be paid in cash on or around March 30, 2023 to shareholders of record as of March 15, 2023. In February 2023, SFL awarded 440,000 options to its employees, officers and directors pursuant to the Company’s incentive program. The options have a five-year term and a three-year vesting period and the first options will be exercisable from February 2024 onwards. The initial strike price was $10.34 per share.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("US GAAP"). The consolidated financial statements include the assets and liabilities and results of operations of the Company and its subsidiaries. All inter-company balances and transactions have been eliminated on consolidation. Where necessary, comparative figures for previous years have been reclassified to conform to changes in presentation in the current year.
Consolidation of variable interest entities	Consolidation of variable interest entities A variable interest entity is defined in Accounting Standards Codification ("ASC") Topic 810 "Consolidation" ("ASC 810") as a legal entity where either (a) the total equity at risk is not sufficient to permit the entity to finance its activities without additional subordinated support; (b) equity interest holders as a group lack either i) the power to direct the activities of the entity that most significantly impact on its economic success, ii) the obligation to absorb the expected losses of the entity, or iii) the right to receive the expected residual returns of the entity; or (c) the voting rights of some investors in the entity are not proportional to their economic interests and the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. ASC 810 requires a variable interest entity to be consolidated by its primary beneficiary, being the interest holder, if any, which has both (1) the power to direct the activities of the entity which most significantly impact on the entity's economic performance, and (2) the right to receive benefits or the obligation to absorb losses from the entity which could potentially be significant to the entity. The Company evaluates its subsidiaries, and any other entities in which it holds a variable interest, in order to determine whether the Company is the primary beneficiary of the entity, and where it is determined that the Company is the primary beneficiary the Company fully consolidate the entity.
Use of accounting estimates	Use of accounting estimates The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue and expense recognition	Revenue and expense recognition The Company generates its revenues from the charter hire of its vessels and offshore related assets, and freight billings. Revenues are generated from time charter hire, bareboat charter hire, direct financing lease interest income, sales-type lease interest income, leaseback assets interest income, direct financing lease service revenues, profit sharing arrangements, drilling contract revenue, voyage charters and other freight billings. In a time charter voyage, the vessel is hired by the charterer for a specified period of time in exchange for consideration which is based on a daily hire rate. Generally, the charterer has the discretion over the ports visited, shipping routes and vessel speed. The contract/charter party generally provides typical warranties regarding the speed and performance of the vessel. The charter party generally has some owner protective restrictions such that the vessel is sent only to safe ports by the charterer and carries only lawful or non-hazardous cargo. In a time charter contract, we are responsible for all the costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance, lubrication oil and other costs relevant to operate the vessel. The charterer bears the voyage related costs such as bunker expenses, port charges, and canal tolls during the hire period. The performance obligations in a time charter contract are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to us. The charterer generally pays the charter hire in advance of the upcoming contract period. The time charter contracts are either operating or direct financing or sales type leases. Where time charters and bareboat charters are considered operating leases, revenues are recorded over the term of the charter as a service is provided. When a time charter contract is linked to an index, we recognize revenue for the applicable period based on the actual index for that period. Rental payments from direct financing and sales-type leases and leaseback assets are allocated between service revenues, if applicable, interest income and capital repayments. The amount allocated to lease service revenue is based on the estimated fair value, at the time of entering the lease agreement, of the services provided which consist of ship management and operating services. In a voyage charter contract, the charterer hires the vessel to transport a specific agreed-upon cargo for a single voyage. The consideration in such a contract is determined on the basis of a freight rate per metric ton of cargo carried or occasionally on a lump sum basis. The charterer is responsible for any short loading of cargo or "dead" freight. The voyage charter party generally has standard payment terms with freight paid on completion of discharge. The voyage charter party generally has a "demurrage" clause. As per this clause, the charterer reimburses us for any potential delays exceeding the allowed laytime as per the charter party clause at the ports visited, which is recorded as voyage revenue. Estimates and judgments are required in ascertaining the most likely outcome of a particular voyage and actual outcomes may differ from estimates. Such estimate is reviewed and updated over the term of the voyage charter contract. In a voyage charter contract, the performance obligations begin to be satisfied once the vessel begins loading the cargo. We have determined that our voyage charter contracts consist of a single performance obligation of transporting the cargo within a specified time period. Therefore, the performance obligation is met evenly as the voyage progresses, and the revenue is recognized on a straight line basis over the voyage days from the commencement of loading to completion of discharge. Contract assets with regards to voyage revenues are reported as "Voyages in progress" as the performance obligation is satisfied over time. Voyage revenues typically become billable and due for payment on completion of the voyage and discharge of the cargo, at which point the receivable is recognized as "Trade accounts receivable, net". In a voyage contract, the Company bears all voyage related costs such as fuel costs, port charges and canal tolls. To recognize costs incurred to fulfill a contract as an asset, the following criteria shall be met: (i) the costs relate directly to the contract, (ii) the costs generate or enhance resources of the entity that will be used in satisfying performance obligations in the future and (iii) the costs are expected to be recovered. The costs incurred during the period prior to commencement of loading the cargo, primarily bunkers, are deferred as they represent setup costs and recorded as a current asset and are subsequently amortized on a straight-line basis as we satisfy the performance obligations under the contract. Costs incurred to obtain a contract, such as commissions, are also deferred and expensed over the same period. For our vessels operating under revenue sharing agreements, or in pools, revenues and voyage expenses are pooled and allocated to each pool’s participants in accordance with an agreed-upon formula. Revenues generated through revenue sharing agreements are presented gross when we are considered the principal under the charter parties with the net income allocated under the revenue sharing agreement presented as within voyage charter income. For revenue sharing agreements that meet the definition of a lease, we account for such contracts as variable rate operating leases and recognize revenue for the applicable period based on the actual net revenue distributed by the pool. The activities that primarily drive the revenue earned from our drilling contract primarily includes providing a drilling rig and the crew and supplies necessary to operate the rig, but may also in the future include mobilizing and demobilizing the rig to and from the drill site and performing rig preparation activities and/or modifications required for the contract with a customer. We account for these integrated services as a single performance obligation that is (i) satisfied over time and (ii) comprised of a series of distinct time increments of service. We recognize drilling contract revenues for activities that correspond to a distinct time increment of service within the contract term in the period when the services are performed. We recognize consideration for activities that are (i) not distinct within the context of our contracts and (ii) do not correspond to a distinct time increment of service, ratably over the estimated contract term. We determine the total transaction price for each individual contract by estimating both fixed and variable consideration expected to be earned over the term of the contract. The amount estimated for variable consideration may be constrained and is only included in the transaction price to the extent that it is probable that a significant reversal of previously recognized revenue will not occur throughout the term of the contract. When determining if variable consideration should be constrained, we consider whether there are factors outside of our control that could result in a significant reversal of revenue as well as the likelihood and magnitude of a potential reversal of revenue. We reassess these estimates each reporting period as required. Consideration received for drilling contracts mainly comprises of dayrate drilling revenue which provide for payment on a dayrate basis, with higher rates for periods when the drilling unit is operating and lower rates or zero rates for periods when drilling operations are interrupted or restricted. The dayrate invoices billed to the customer are typically determined based on the varying rates applicable to the specific activities performed on an hourly basis. Such dayrate consideration is allocated to the distinct hourly incremental service it relates to. Revenue is recognized in line with the contractual rate billed for the services provided for any given hour. As detailed in Note 26: Related Party Transactions, the Company has, or has had, profit sharing arrangements with Frontline Shipping Limited ("Frontline Shipping"), and Golden Ocean Group Limited ("Golden Ocean"). In addition, the Company's charter agreements relating to seven containerships chartered to Maersk on a time charter basis include an arrangement where we receive a share of the fuel savings, dependent on the price difference between IMO compliant fuel and IMO non-compliant fuel that is subsequently made compliant by the scrubbers. Also, scrubber savings revenue is earned from one newly purchased car carrier, Arabian Sea . The vessel was purchased with a pre-existing time charter contract with EUKOR Car Carriers Inc. (“Eukor”) that has a profit share mechanism between the owners and the charterer. As a result, SFL is entitled to a share of the difference between the prices paid and the plats bunker prices at the time and place of bunkering. Amounts receivable under these arrangements are accrued on the basis of amounts earned at the reporting date. Any contingent elements of rental income, such as profit share, fuel saving payments and interest rate adjustments, are recognized when the contingent conditions have materialized.
Foreign currencies	Foreign currencies
Cash and cash equivalents	Cash and cash equivalents For the purposes of the consolidated statements of cash flows, all demand and time deposits and highly liquid, low risk investments with original maturities of three months or less are considered equivalent to cash.
Restricted cash	Restricted cashRestricted cash consists of cash which may only be used for certain purposes and is held under a contractual arrangement. The Company classifies restricted cash as short-term and a current asset if the cash is restricted for less than a year. Otherwise, the restricted cash is classified as long-term.
Investment in debt and equity securities	Investment in debt and equity securities Investments in debt and equity securities include share investments and interest-earning listed and unlisted corporate bonds. Any premium paid on their acquisition is amortized over the life of the bond. Investments in debt securities are recorded at fair value, with unrealized gains and losses recorded as a separate component of other comprehensive income. Investments in equity securities are recorded at fair value, with unrealized gains and losses recorded in the consolidated statement of operations. If circumstances arise which lead the Company to believe that the issuer of a corporate bond may be unable to meet its payment obligations in full, or that the fair value at acquisition of the share investment or corporate bond may otherwise not be fully recoverable, then to the extent that a loss is expected to arise that unrealized loss is recorded as an impairment in the statement of operations, with an adjustment if necessary to any unrealized gains or losses previously recorded in other comprehensive income. In determining whether the Company has an other-than-temporary impairment in its investment in bonds, in addition to the Company’s intention and ability to hold the investments until the market recovers, the Company considers the period of decline, the amount and the severity of the decline and the ability of the investment to recover in the near to medium term. The Company also evaluates if the underlying security provided by the bonds is sufficient to ensure that the decline in fair value of these bonds did not result in an other-than-temporary impairment. The cost of disposals or reclassifications from other comprehensive income is calculated on an average cost basis, where applicable. The fair value of unlisted corporate bonds is determined from an analysis of projected cash flows, based on factors including the terms, provisions and other characteristics of the bonds, credit ratings and default risk of the issuing entity, the fundamental financial and other characteristics of that entity, and the current economic environment and trading activity in the debt market.
Investments in associated companies	Investments in associated companies Investments in affiliates in which the Company has significant influence but does not exercise control are accounted for using the equity method of accounting. Under the equity method, the Company records its investments in equity-method investees on the consolidated balance sheets as "Investment in associated companies" and its share of the nonconsolidated affiliate's income or loss is recognized in the consolidated statement of operations as "Equity in earnings of associated companies". The cumulative post-acquisition changes in the investment are adjusted against the carrying amount of the investment. On December 31, 2020, the Company sold 50.1% of the shares of River Box Holding Inc. (“River Box”) to a subsidiary of Hemen, a related party. The Company has accounted for its remaining 49.9% ownership in River Box using the equity method from this date. (See Note 19: Investment in Associated Companies).
Allowance for expected credit losses	Allowance for expected credit losses The balances recorded in respect of T rade receivables, Other receivables, Related party receivables, Other long term assets and Investments in sales-type leases, direct financing leases and leaseback assets reflect the risk that our customers may fail to meet their payment obligations and the risk that the underlying asset value of the vessels and rigs could be less than the unguaranteed residual value. The Company estimates the expected risk of loss over the remaining life using a probability of default and net exposure analysis. The probability of default is estimated based on historical cumulative default data, adjusted for current conditions of similarly risk-rated counterparties over the contractual term. The net exposure is estimated based on the exposure, net of the estimated value of the underlying vessels and rigs in the instance of Investments in sales-type leases, direct financing leases and leaseback assets , over the contractual term. Current expected credit loss provisions are classified as expenses in the Consolidated Statement of Operations, with a corresponding allowance for credit loss amount reported as a reduction in the related balance sheet amount of Tr ade receivables, Other receivables, Related party receivables, Other long term assets and Investments in sales-type leases, direct financing leases and leaseback assets . Partial or full recoveries of amounts previously written off are generally recognized as a reduction in the provision for credit losses.
Trade accounts receivable	Trade accounts receivableThe amount shown as trade accounts receivable at each balance sheet date includes receivables due from customers for hire of vessels and offshore related assets, net of allowance for expected credit losses.
Inventories	Inventories Inventories are comprised principally of fuel and lubricating oils and are stated at the lower of cost and net realizable value. Cost is determined on a first-in first-out basis.
Vessels, rigs and equipment (including operating lease assets)	Vessels, rigs and equipment (including operating lease assets) Vessels, rigs and equipment are recorded at historical cost less accumulated depreciation and, if appropriate, impairment charges. The cost of these assets less estimated residual value is depreciated on a straight-line basis over the estimated remaining economic useful life of the asset. The estimated economic useful life of our offshore drilling rigs is 30 years and for all other vessels it is 25 years. Where an asset is subject to an operating lease that includes fixed price purchase options, the projected net book value of the asset is compared to the option price at the various option dates. If any option price is less than the projected net book value at an option date, the initial depreciation schedule is amended so that the carrying value of the asset is written down on a straight line basis to the option price at the option date. If the option is not exercised, this process is repeated so as to amortize the remaining carrying value, on a straight line basis, to the estimated recycling value or the option price at the next option date, as appropriate. This accounting policy for fixed assets has the effect that if an option is exercised there will be either a) no gain or loss on the sale of the asset or b) in the event that the option is exercised at a price in excess of the net book value at the option date, a gain will be reported in the statement of operations at the date of delivery to the new owners, under the heading "gain on sale of assets". The Company capitalizes and depreciates the costs of significant replacements, renewals and upgrades to its vessels over the shorter of the vessel’s remaining useful life or the life of the renewal or upgrade. The amount capitalized is based on management’s judgment as to expenditures that extend a vessel’s useful life or increase the operational efficiency of a vessel. Costs that are not capitalized are recorded as a component of direct vessel operating expenses during the period incurred. Expenses for routine maintenance and repairs are expensed as incurred. Advances paid in respect of vessel upgrades in relation to Exhaust Gas Cleaning Systems ("EGCS" or "scrubbers") and Ballast water treatment systems ("BWTS") are included within "Capital improvements, newbuildings and vessel purchase deposits,", until such time as the equipment is installed on a vessel, at which point it is transferred to "Vessels, rigs and equipment, net". Office equipment is depreciated at 20% per annum on a reducing balance basis.
Vessels and equipment under finance lease	Vessels and equipment under finance lease The Company charters-in certain vessels and equipment under leasing agreements. Leases of vessels and equipment, where the Company has substantially all the risks and rewards of ownership, are classified as "vessels under finance lease", with corresponding lease liabilities recorded. The Company capitalizes and depreciates the costs of significant replacements, renewals and upgrades to its vessels over the shorter of the vessel’s remaining useful life or the life of the renewal or upgrade. The amount capitalized is based on management’s judgment as to expenditures that extend a vessel’s useful life or increase the operational efficiency of a vessel. Costs that are not capitalized are recorded as a component of direct vessel operating expenses during the period incurred. Expenses for routine maintenance and repairs are expensed as incurred. Advances paid in respect of vessel upgrades in relation to EGCS and BWTS are included within "Capital improvements, newbuildings and vessel purchase deposits", until such time as the equipment is installed on a vessel, at which point it is transferred to "Vessels under finance lease, net".
Newbuildings	Newbuildings The carrying value of vessels under construction ("newbuildings") represents the accumulated costs to the balance sheet date which the Company has paid by way of purchase installments and other capital expenditures together with capitalized loan interest and associated finance costs. No charge for depreciation is made until a newbuilding is put into operation.
Capitalized interest	Capitalized interestInterest expense is capitalized during the period of construction of newbuilding vessels based on accumulated expenditures for the applicable vessel at the Company's capitalization rate of interest. The amount of interest capitalized in an accounting period is determined by applying an interest rate (the "capitalization rate") to the average amount of accumulated expenditures for the vessel during the period. The capitalization rate used in an accounting period is based on the rates applicable to borrowings outstanding during the period. The Company does not capitalize amounts in excess of actual interest expense incurred in the period. In the year ended December 31, 2022, $2.7 million interest was capitalized in the cost of newbuildings (2021: $0.4 million; 2020: $0.0 million).
Investment in sales-type leases and direct financing leases and leaseback assets	Investment in sales-type leases and direct financing leases Leases (charters) of our vessels where we are the lessor are classified as either direct financing, sales-type leases, operating leases, or leaseback assets based on an assessment of the terms of the lease. For charters classified as direct financing leases, the minimum lease payments (reduced in the case of time chartered vessels by projected vessel operating costs) plus the estimated residual value of the vessel are recorded as the gross investment in the direct financing lease. For direct financing leases, the difference between the gross investment in the lease and the carrying value of the vessel is recorded as unearned lease interest income. The net investment in the lease consists of the gross investment less the unearned income. Over the period of the lease each charter payment received, net of vessel operating costs if applicable, is allocated between "lease interest income" and "repayment of investment in lease" in such a way as to produce a constant percentage rate of return on the balance of the net investment in the direct financing lease. Thus, as the balance of the net investment in each direct financing lease decreases, a lower proportion of each lease payment received is allocated to lease interest income and a greater proportion is allocated to lease repayment. For direct financing leases relating to time chartered vessels, the portion of each time charter payment received that relates to vessel operating costs is classified as "service revenue - direct financing leases". For sales-type leases, the difference between the gross investment in the lease and the present value of its components, i.e. the minimum lease payments and the estimated residual value, is recorded as unearned lease interest income. The discount rate used in determining the present values is the interest rate implicit in the lease. The present value of the minimum lease payments, computed using the interest rate implicit in the lease, is recorded as the sales price, from which the carrying value of the vessel at the commencement of the lease is deducted in order to determine the profit or loss on sale. As is the case for direct financing leases, the unearned lease interest income is amortized to income over the period of the lease so as to produce a constant periodic rate of return on the net investment in the lease. The difference between the fair value of the leased asset and the costs results in a selling profit or loss. A selling profit is recognized at lease commencement for sales-type leases and over the lease term for direct financing leases. Selling loss is recognized at lease commencement for both sales-type and direct financing leases. The fair value is considered to be the cost of acquiring the vessel unless a significant period has elapsed between the acquisition of the vessel and the commencement of the lease. Where a sales-type lease, direct financing lease or leaseback asset charter arrangement containing fixed price purchase options, the projected carrying value of the net investment in the lease is compared to the option price at the various option dates. If any option price is less than the projected net investment in the lease at an option date, the rate of amortization of unearned lease interest income is adjusted to reduce the net investment to the option price at the option date. If the option is not exercised, this process is repeated so as to reduce the net investment in the lease to the un-guaranteed residual value or the option price at the next option date, as appropriate.
Leaseback assets	Leaseback assets Any vessels purchased and leased back to the same party are evaluated under sale and leaseback accounting guidance contained in ASC 842 to determine whether it is appropriate to account for the transaction as a purchase of an asset. If control is deemed not to have passed to the Company as purchaser, due for example to the lessee having purchase options, the transaction is accounted for under ASC 310 where the purchase price paid is accounted for as loan receivable and described as a "leaseback asset". Interest income is recognized on the aggregate loan receivable based on the imputed interest rate and the part of the rental income received is allocated as a reduction of the vessel loan balance.
Finance lease liability and Lease debt financing	Finance lease liability and Lease debt financing Similar to the Leaseback assets above, any vessels sold and leased back from the same party are also evaluated under sale and leaseback accounting guidance contained in ASC 842 to determine whether it is appropriate to account for the transaction as a sale of an asset. If control is deemed not to have passed to the buyer, it is deemed as "a failed sale and leaseback transaction" and the Company accounts for the transaction as a financing arrangement and describes this as "lease debt financing". The Company does not derecognize the underlying vessel and continue to depreciate the asset. The sales proceeds received from the buyer-lessor are recorded as a financial liability. Charter hires paid by the Company to the buyer-lessor are allocated between interest expense and principal repayment of the financial liability.
Impairment of long-lived assets, including other long-term investments	Impairment of long-lived assets, including other long-term investments The carrying value of long-lived assets, including other long-term investments, that are held by the Company are reviewed whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For vessels, such indicators may include historically low spot charter rates and second hand vessel values. The Company assesses recoverability of the carrying value of the asset by estimating the future net cash flows expected to result from the asset, including eventual disposition, taking into account the possibility of any existing medium and long-term charter arrangements being terminated early. If the future expected net cash flows are less than the carrying value of the asset, an impairment loss is recorded equal to the difference between the carrying value of the asset and its fair value. In addition, long-lived assets to be disposed of are reported at the lower of carrying amount and fair value less estimated costs to sell. Fair value is generally based on values achieved for the sale/purchase of similar vessels and external appraisals.
Deferred charges	Deferred charges Loan costs, including debt arrangement fees, are capitalized and amortized on a straight line basis over the term of the relevant loan. The straight line basis of amortization approximates the effective interest method in the Company's statement of operations. Amortization of loan costs is included in interest expense. If a loan is repaid early, any unamortized portion of the related deferred charges is charged against income in the period in which the loan is repaid. Similarly, if a portion of a loan is repaid early, the corresponding portion of the unamortized related deferred charges is charged against income in the period in which the early repayment is made.
Convertible bonds	Convertible bonds Through December 31, 2021, the Company separately accounted for the liability and equity components of the Convertible Notes at issuance. The debt issuance costs related to the issuance of the Convertible Notes were also previously allocated to the liability and equity components based on their relative values. With the adoption of ASU 2020-06, on January 1, 2022, amounts for convertible notes, including debt issuance costs, that were previously classified within equity are now reclassified to the liability component, net of any remaining unamortized amounts. Debt issuance costs are amortized to interest expense, on a straight-line basis, over the term of the relevant convertible notes. (See also "Recently Adopted Accounting Standard" below).
Financial instruments	Financial instruments In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks existing at each balance sheet date. For the majority of financial instruments, including most derivatives and long-term debt, standard market conventions and techniques such as options pricing models are used to determine fair value. All methods of assessing fair value result in a general approximation of value, and such value may never actually be realized. Interest rate and currency swaps The Company enters into interest rate swap transactions from time to time to hedge a portion of its exposure to floating interest rates. These transactions involve the conversion of floating interest rates into fixed rates over the life of the transactions without an exchange of underlying principal. The Company also enters into currency swap transactions from time to time to hedge against the effects of exchange rate fluctuations on loan liabilities. Currency swap transactions involve the exchange of fixed amounts of other currencies for fixed US dollar amounts over the life of the transactions, including an exchange of underlying principal. The Company may also enter into a combination of interest and currency swaps "cross currency interest rate swaps". The fair values of the interest rate and currency swap contracts, including cross currency interest rate swaps, are recognized as assets or liabilities. When the interest rate or currency swap does not qualify for hedge accounting under ASC Topic 815 "Derivatives and Hedging" ("ASC 815"), changes in fair values are recognized in the consolidated statements of operations. When the interest rate and/or currency swap or combination, qualifies for hedge accounting under ASC Topic 815 "Derivatives and Hedging" ("ASC 815"), and the Company has formally designated the swap as a hedge to the underlying loan, and when the hedge is effective, the changes in the fair value of the swap are recognized in other comprehensive income. If it becomes probable that the hedged forecasted transaction to which these swaps relate will not occur, the amounts in other comprehensive income will be reclassified into earnings immediately.
Drydocking provisions for vessels	Drydocking provisions for vessels Normal vessel repair and maintenance costs are charged to expense when incurred. The Company recognizes the cost of a drydocking at the time the drydocking takes place, that is, it applies the "expense as incurred" method.
Rig periodic surveys	Rig periodic surveys Costs related to periodic overhauls of drilling units are capitalized and amortized over the anticipated period between overhauls, which is generally five years. Related costs are primarily yard costs and the cost of employees directly involved in the work. We include amortization costs for periodic overhauls in depreciation expense. Costs related to repair and maintenance activities are included in rig operating expenses and are expensed as incurred.
Earnings per share	Earnings per share Basic earnings per share ("EPS") is computed based on the income available to common stockholders and the weighted average number of shares outstanding for basic EPS. Diluted EPS includes the effect of the assumed conversion of potentially dilutive instruments.
Share-based compensation	Share-based compensation The Company accounts for share-based payments in accordance with ASC Topic 718 "Compensation – Stock Compensation" ("ASC 718"), under which the fair value of stock options issued to employees is expensed over the period in which the options vest. The Company uses the simplified method for making estimates of the expected term of stock options.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In July 2021, the FASB issued ASU No. 2021-05, "Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments" ("ASU 2021-05"). The amendments in this ASU affect lessors with lease contracts that (1) have variable lease payments that do not depend on a reference index or a rate and (2) would have resulted in the recognition of a selling loss at lease commencement if classified as sales-type or direct financing. ASU 2021-05 was effective for fiscal years and interim periods beginning after December 15, 2021.The adoption of 2021-05 did not have a material impact to the Company’s consolidated financial position, results of operations or cash flows. In May 2021, the FASB issued ASU No. 2021-04, "Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options" ("ASU 2021-04"). This new standard provides guidance for a modification or an exchange of a freestanding equity-classified written call option that is not within the scope of another Topic. ASU 2021-04 was effective for fiscal years and interim periods beginning after December 15, 2021. The adoption of 2021-04 did not have a material impact to the Company’s consolidated financial position, results of operations or cash flows. In August 2020, the FASB issued ASU 2020-06, "Accounting for Convertible Instruments and Contracts in an Entity's Own Equity". ASU 2020-06 eliminates the accounting model that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. Consequently, a convertible debt instrument is now accounted for as a single liability measured at its amortized cost or as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. By removing those separation models, the interest rate of convertible debt instruments typically is now closer to the coupon interest rate. ASU 2020-06 also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 also amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. The Company adopted this update on January 1, 2022 using the modified retrospective approach, whereby a cumulative effect adjustment was made to reduce retained earnings on January 1, 2022 without any retroactive application to prior periods. The cumulative effect of adopting this guidance was an incremental adjustment of $4.3 million to the Company's opening retained earnings and a $5.9 million reduction to additional paid-in capital as of January 1, 2022. This net adjustment to equity of $1.6 million is solely in respect of its 4.875% senior unsecured convertible notes due 2023 and resulted in a corresponding decrease in the deferred debt issuance costs of the notes. (See Note 24: Share Capital, Additional Paid-In Capital and Contributed Surplus). Also, as the Company already uses the average market price for share price quotations and the if-converted method for its convertible instruments in the computation of the diluted earnings per share, the other amendments in ASU 2020-06 did not have any impact on the Company.

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Components of calculation of earnings per share	The components of the numerator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands of $) 2022 2021 2020 Basic earnings (loss) per share: Net income/(loss) available to stockholders 202,768 164,343 (224,425) Diluted earnings (loss) per share: Net income/(loss) available to stockholders 202,768 164,343 (224,425) Interest and other expenses/(gains) attributable to convertible notes 7,501 16,166 — Net income/(loss) assuming dilution 210,269 180,509 (224,425) The components of the denominator for the calculation of basic and diluted EPS are as follows: Year ended December 31, (in thousands) 2022 2021 2020 Basic earnings per share: Weighted average number of common shares outstanding* 126,789 122,141 108,972 Diluted earnings per share: Weighted average number of common shares outstanding* 126,789 122,141 108,972 Effect of dilutive share options 112 — — Effect of dilutive convertible notes 10,476 17,242 — Weighted average number of common shares outstanding assuming dilution 137,377 139,383 108,972 Year ended December 31, 2022 2021 2020 Basic earnings/(loss) per share: $ 1.60 $ 1.35 $ (2.06) Diluted earnings/(loss) per share: $ 1.53 $ 1.30 $ (2.06)

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Minimum future revenue to be received under non-cancelable operating leases	The minimum future revenues to be received under the Company's non-cancelable operating leases on its vessels as of December 31, 2022, are as follows: Year ending December 31, (in thousands of $) 2023 491,809 2024 379,932 2025 210,439 2026 213,003 2027 142,044 Thereafter 103,202 Total minimum lease revenues 1,540,429
Cost and accumulated depreciation of vessels leased to third parties on operating leases	The cost and accumulated depreciation of vessels (owned and under finance leases) leased to third parties on non-cancelable operating leases as of December 31, 2022 and 2021 were as follows: (in thousands of $) 2022 2021 Cost 3,062,551 3,393,588 Accumulated depreciation (614,698) (610,622) Total 2,447,853 2,782,966

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	The following table provides information about receivables, contract assets and contract liabilities from contracts with customers: (in thousands of $) 2022 2021 Trade accounts receivable from contracts with customers, net (1) 10,209 1,505 Contract assets, current (2) 10,102 1,958 Contract liabilities, current (2) (1,585) (115) (1) Trade accounts receivable from contracts with customers, net, relate to receivables from drilling contracts, voyage charter receivables and demurrage receivables, net of allowance for expected credit losses. The expected credit losses relating to trade accounts receivable from contracts with customers was $0.3 million as of December 31, 2022 (2021: $0.1 million). (See also Note 13: Trade Accounts Receivable and Other Receivables and Note 28: Allowance for Expected Credit Losses).

GAIN ON SALE OF ASSETS AND TE_2

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Tables)	12 Months Ended
	Dec. 31, 2022
Component of Operating Income [Abstract]
Gains on sale of assets	The Company has recorded gains on sale of assets as follows: Year ended December 31, (in thousands of $) 2022 2021 2020 Gain on sale of vessels 13,228 39,405 2,250

GAIN ON SALE OF SUBSIDIARIES (T

GAIN ON SALE OF SUBSIDIARIES (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Consolidated Net Assets of Disposal Group	At the time of disposal on December 31, 2020, the consolidated net assets held by River Box were as follows: (in thousands of $) 2020 Cash and cash equivalents 2,859 Investments in sales-type and direct financing leases 540,908 Finance lease liability (464,740) Long-term loan from related party (45,000) Other current liabilities (2,861) Net assets 31,166

OTHER FINANCIAL ITEMS, NET (Tab

OTHER FINANCIAL ITEMS, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other financial items	Other financial items comprise the following items: Year ended December 31, (in thousands of $) 2022 2021 2020 Net payments on non-designated derivatives relating to interest rate swaps (341) (6,707) (4,575) Net payments on non-designated derivatives relating to cross currency swaps (7) (8) (6) Net payments on non-designated derivatives relating to combined cross currency and interest rate swaps — — (152) Net payments relating to the settlement of interest rate swaps following the refinancing of debt — — (4,539) Total net cash movement on non-designated derivatives and swap settlements (348) (6,715) (9,272) Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to interest rate swaps 17,202 11,607 (15,314) Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to cross currency swaps (60) (16) 5 Net (decrease)/increase in mark-to-market valuation of non-designated derivatives relating to combined cross currency and interest rate swaps — — (5,124) Total net movement in fair value of non-designated derivatives 17,142 11,591 (20,433) Allowance for expected credit losses 522 722 (1,771) Other items (1,788) 1,085 5,531 Total other financial items, net 15,528 6,683 (25,945)

INVESTMENTS IN DEBT AND EQUIT_2

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of debt and equity securities	Marketable securities held by the Company consist of corporate bonds and equity securities. (in thousands of $) 2022 2021 Corporate Bonds Balance at start of the year 9,680 9,431 Disposals during the year (14,239) — Additions during the year — 1,350 Unrealized (loss)/gain recorded in other comprehensive income (631) (284) Realized gain/(loss)* 5,190 — Accumulated other-than-temporary impairment* — (817) Balance at end of the year — 9,680 2022 2021 Equity Securities Balance at start of the year 11,530 19,374 Disposals during the year (17,422) (9,608) Unrealized gain /(loss)* 8,389 1,087 Realized gain* 4,592 725 Foreign currency translation loss 194 (48) Balance at the end of year 7,283 11,530 Total Investment in Debt and Equity Securities 7,283 21,210 Equity Securities pledged to creditors — 10,238 *Balances included in "Gain/(loss) on investments in debt and equity securities" in the Consolidated Statements of Operations. Changes in the fair value of equity investments are recognized in net income. (in thousands of $) 2022 2021 Frontline* — 10,238 NorAm Drilling 7,283 1,292 Total shares 7,283 11,530
Schedule of corporate bonds	The corporate bonds are classified as available-for-sale securities and are recorded at fair value, with unrealized gains and losses recorded as a separate component of "Other comprehensive income". Year ended December 31, 2022 Year ended December 31, 2021 (in thousands of $) Amortised Cost Unrealised gains/ (losses)* Fair value Amortised Cost Unrealised gains/ (losses)* Fair value NorAm Drilling — — — 4,132 487 4,619 NT Rig Holdco 12% — — — 4,917 144 5,061 NT Rig Holdco 7.5% — — — — — — Total corporate bonds — — — 9,049 631 9,680

VESSELS, RIGS AND EQUIPMENT, _2

VESSELS, RIGS AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Movements in the year ended December 31, 2022 summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels, Rigs and Equipment, net Balance as of December 31, 2021 2,782,909 (552,326) 2,230,583 Depreciation — (146,518) (146,518) Vessel additions 560,750 — 560,750 Capital improvements 1,574 — 1,574 Balance as of December 31, 2022 3,345,233 (698,844) 2,646,389

CAPITAL IMPORVEMENTS, NEWBUILDI

CAPITAL IMPORVEMENTS, NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Capital Improvements, Newbuildings and Vessel Purchase Deposits	(in thousands of $) 2022 2021 Capital improvements in progress 4,127 591 Newbuildings 93,733 46,093 Vessel purchase deposits — 11,000 97,860 57,684

VESSELS UNDER FINANCE LEASE, _2

VESSELS UNDER FINANCE LEASE, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of of finance lease	Movements in the year ended December 31, 2022 summarized as follows: (in thousands of $) Cost Accumulated Depreciation Vessels under Finance Lease, net Balance as of December 31, 2021 777,939 (121,867) 656,072 Depreciation — (41,309) (41,309) Balance as of December 31, 2022 777,939 (163,176) 614,763

OTHER LONG TERM ASSETS (Tables)

OTHER LONG TERM ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other long-term assets	Other long term assets comprise the following items: (in thousands of $) 2022 2021 Collateral deposits on swap agreements 8,770 10,368 Value of acquired charter-out contracts, net 4,712 7,607 Other — 566 Total other long-term assets 13,482 18,541

INVESTMENTS IN SALES-TYPE LEA_2

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Net Investment in Direct Financing and Sales Type Leases [Abstract]
Schedule of sales-type leases, direct financing leases, and leaseback assets	(in thousands of $) 2022 2021 Investments in sales-type and direct financing leases 66,504 147,230 Investments in leaseback assets 52,519 57,536 119,023 204,766 The following lists the components of investments in sales-type leases, direct financing leases and leaseback assets as of December 31, 2022 and December 31, 2021: (in thousands of $) December 31, 2022 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 30,708 34,160 64,868 Purchase obligations at the end of the leases 43,150 31,500 74,650 Net minimum lease payments receivable 73,858 65,660 139,518 Estimated residual values of leased property (un-guaranteed) — — — Less : unearned income (7,252) (13,051) (20,303) Total investment in sales-type lease, direct financing lease and leaseback assets 66,606 52,609 119,215 Allowance for expected credit losses* (102) (90) (192) Total investment in sales-type lease, direct financing lease and leaseback assets 66,504 52,519 119,023 Current portion 10,794 4,638 15,432 Long-term portion 55,710 47,881 103,591 (in thousands of $) December 31, 2021 Sales-Type Leases and Direct Financing Leases Leaseback Assets Total Total minimum lease payments to be received 120,411 43,103 163,514 Purchase obligations at the end of the leases 44,900 31,500 76,400 Less : amounts representing estimated executory costs including profit thereon, included in total minimum lease payments (34,128) — (34,128) Net minimum lease payments receivable 131,183 74,603 205,786 Estimated residual values of leased property (un-guaranteed) 34,721 — 34,721 Less : unearned income (17,532) (16,946) (34,478) Total investment in sales-type lease, direct financing lease and leaseback assets 148,372 57,657 206,029 Allowance for expected credit losses* (1,142) (121) (1,263) Total investment in sales-type lease, direct financing lease and leaseback assets 147,230 57,536 204,766 Current portion 18,436 5,048 23,484 Long-term portion 128,794 52,488 181,282 *See Note 28: Allowance for Expected Credit Losses.
Schedule of minimum future gross revenues to be received under non-cancellable direct financing, sales-type leases, and leaseback assets	The minimum future gross revenues including purchase obligations to be received under the Company's non-cancellable sales type leases, direct financing leases and leaseback assets as of December 31, 2022, are as follows: (in thousands of $) Year ending December 31, Sales-Type Leases and Direct Financing Leases Leaseback Assets Total 2023 14,688 8,162 22,850 2024 23,079 7,686 30,765 2025 36,091 7,665 43,756 2026 — 7,665 7,665 2027 — 34,482 34,482 Thereafter — — — Total minimum lease payments to be received 73,858 65,660 139,518
Schedule of interest income earned on investments in direct financing leases, sales type leases and leaseback assets	Interest income earned on investments in direct financing leases, sales type leases and leaseback assets in the year ended December 31, 2022 was as follows: (in thousands of $) 2022 2021 2020 Investments in sales type and direct financing leases* 5,021 14,173 57,579 Investments in leaseback assets 3,895 5,351 13,637 Total 8,916 19,524 71,216 * Interest income earned on investments in sales-type leases and direct financing leases in the above table includes $0.4 million in relation to Frontline Shipping, a related party (2021: $1.5 million; 2020: $1.7 million).

INVESTMENT IN ASSOCIATED COMP_2

INVESTMENT IN ASSOCIATED COMPANIES (Tables)	12 Months Ended
	Dec. 31, 2022
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Percentage participation using the equity method of accounting	As of December 31, 2022, 2021 and 2020, the Company had the following participation in investments that are recorded using the equity method: 2022 2021 2020 River Box Holding Inc. 49.90 % 49.90 % 49.90 % SFL Deepwater Ltd * * * SFL Hercules Ltd * * 100.00 % SFL Linus Ltd * * *
Summarized financial statement information of equity method investees	Summarized balance sheet information of the Company's equity method investees is as follows: River Box (in thousands of $) 2022 2021 Share presented 49.90 % 49.90 % Current assets 15,186 13,987 Non-current assets 234,572 247,361 Total assets 249,758 261,348 Current liabilities 14,267 13,242 Non-current liabilities (1) 218,944 231,471 Total liabilities 233,211 244,713 Total stockholders' equity (2) 16,547 16,635 (1) River Box non-current liabilities as of December 31, 2022, include $45.0 million due to SFL (2021: $45.0 million). (See Note 26: Related Party Transactions). (2) In the year ended December 31, 2022, River Box paid a dividend of $2.9 million to the Company (2021: $2.2 million). Summarized statement of operations information of the Company's equity method investees is shown below. Year ended December 31, 2022 (in thousands of $) River Box Operating revenues 19,269 Net operating revenues 19,248 Net income (3) 2,833 Year ended December 31, 2021 (in thousands of $) River Box SFL Hercules TOTAL Operating revenues 20,115 13,753 33,868 Net operating revenues 20,094 6,558 26,652 Net income (3) 3,267 927 4,194 Year ended December 31, 2020 (in thousands of $) SFL Deepwater SFL Hercules SFL Linus TOTAL Operating revenues 11,835 15,072 18,666 45,573 Net operating revenues 11,892 15,050 18,590 45,532 Net income (3) (6,002) 3,827 6,461 4,286 (3) The net income of River Box for the year ended December 31, 2022, includes interest payable to SFL amounting to $4.6 million. The net income of River Box and SFL Hercules for the year ended December 31, 2021, includes interest payable to SFL amounting to $4.6 million and $2.4 million respectively. The net income of River Box, SFL Deepwater, SFL Hercules and SFL Linus for 2020 includes interest payable to SFL amounting to $0.0 million, $3.8 million, $3.6 million, and $4.5 million, respectively. (See Note 26: Related Party Transactions).
Movement in allowance for expected credit losses	Movements in the year ended December 31, 2022, in the allowance for expected credit losses can be summarized as follows: As of December 31, 2022 (in thousands of $) River Box Share presented 49.90 % Balance as of December 31, 2021 396 Allowance recorded in net income of associated company (18) Balance as of December 31, 2022 378

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Accrued Liabilities [Abstract]
Schedule of accrued liabilities	(in thousands of $) 2022 2021 Vessel operating expenses 17,315 11,278 Administrative expenses 1,650 1,626 Interest expense 8,233 6,890 27,198 19,794

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Schedule of other current liabilities	(in thousands of $) 2022 2021 Deferred and prepaid charter revenue 27,196 21,505 Employee taxes 45 35 Other items 563 1,206 27,804 22,746

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Long-Term Debt, by Current and Noncurrent [Abstract]
Schedule of long-term debt	(in thousands of $) 2022 2021 Long-term debt: NOK700 million senior unsecured floating rate bonds due 2023 71,243 79,507 4.875% senior unsecured convertible bonds due 2023 137,900 137,900 NOK700 million senior unsecured floating rate bonds due 2024 70,734 78,939 NOK600 million senior unsecured floating rate bonds due 2025 60,048 61,334 7.25% senior unsecured sustainability-linked bonds due 2026 150,000 150,000 Lease debt financing 394,555 126,955 Borrowings secured on Frontline shares — 15,639 U.S. dollar denominated floating rate debt due through 2029 1,329,156 1,253,481 Total debt principal 2,213,636 1,903,755 Less : unamortized debt issuance costs (12,580) (14,541) Less : current portion of long-term debt (921,270) (302,769) Total long-term debt 1,279,786 1,586,445
Schedule of maturities of debt	The outstanding debt as of December 31, 2022, is repayable as follows: Year ending December 31, (in thousands of $) 2023 921,270 2024 295,494 2025 437,200 2026 235,242 2027 185,158 Thereafter 139,272 Total debt principal 2,213,636
Schedule of interest rate information	Interest rate information December 31, 2022 December 31, 2021 Weighted average interest rate* 5.30 % 2.68 % US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate 4.77 % 0.21 % Secured Overnight Financing Rate ("SOFR"), closing rate 4.30 % 0.05 % Effective Federal Funds Rate ("EFFR"), closing rate 4.33 % 0.07 % Norwegian Interbank Offered Rate ("NIBOR") 3.26 % 0.95 % *The weighted average interest rate is for floating rate debt denominated in U.S. dollars and Norwegian kroner (“NOK”) which takes into consideration the effect of related interest rate swaps.

FINANCE LEASE LIABILITY (Tables

FINANCE LEASE LIABILITY (Tables)	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Schedule of finance leases	(in thousands of $) 2022 2021 Finance lease liability, current portion 53,655 51,204 Finance lease liability, long-term portion 419,341 472,996 472,996 524,200
Schedule of finance leases by maturity	The Company's future minimum lease liability under the non-cancellable finance leases are as follows: Year ending December 31, (in thousands of $) 2023 74,735 2024 433,866 Thereafter — Total finance lease liability 508,601 Less: imputed interest payable (35,605) Present value of finance lease liability 472,996 Less: current portion (53,655) Finance lease liability, long-term portion 419,341

SHARE CAPITAL, ADDITIONAL PAI_2

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of share capital	Authorized share capital is as follows: (in thousands of $, except share data) 2022 2021 300,000,000 common shares of $0.01 par value each (December 31, 2021: 300,000,000 common shares of $0.01 par value each) 3,000 3,000 Issued and fully paid share capital is as follows: (in thousands of $, except share data) 2022 2021 138,562,173 common shares of $0.01 par value each (December 31, 2021: 138,551,387 common shares of $0.01 par value each) 1,386 1,386

SHARE OPTION PLAN (Tables)

SHARE OPTION PLAN (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of share option transactions	The following summarizes share option transactions related to the Option Scheme in 2022, 2021 and 2020: 2022 2021 2020 Options Weighted average exercise price $ Options Weighted average exercise price $ Options Weighted average exercise price $ Options outstanding at beginning of year 1,433,500 9.65 1,082,500 10.56 835,000 10.72 Granted 435,000 8.73 480,000 8.79 350,000 13.45 Exercised (85,500) 8.87 (129,000) 7.48 (17,500) 8.63 Forfeited — — — — (85,000) 11.02 Options outstanding at end of year 1,783,000 8.55 1,433,500 9.65 1,082,500 10.56 Exercisable at end of year 919,667 9.00 578,500 10.02 418,167 9.45

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Amounts due from and to related parties, excluding direct financing lease balances	The Consolidated Balance Sheets include the following amounts due from and to related parties and associated companies, excluding investment in direct financing lease balances. (Refer to Note 18: Investments in Sales-Type Leases, Direct Financing Leases and Leaseback Assets). (in thousands of $) 2022 2021 Amounts due from: Frontline 3,854 3,633 Seadrill — 3,643 Golden Ocean 374 4,453 Seatankers — 77 Sloane Square Capital 183 — River Box 10 5 Other related parties 1 1 Allowance for expected credit losses* (30) (3,255) Total amount due from related parties 4,392 8,557 Loans to related parties - associated companies, long-term River Box 45,000 45,000 Total loans to related parties - associated companies, long-term 45,000 45,000 Amounts due to: Frontline Shipping 1,788 1,252 Frontline 2 2 Golden Ocean 141 36 Other related parties 5 5 Total amount due to related parties 1,936 1,295 *See Note 3: Recently Issued Accounting Standards and Note 28: Allowance for Expected Credit Losses.
Summary of leasing revenues and repayments earned from related parties	A summary of leasing revenues and repayments from Frontline Shipping, Golden Ocean and Seadrill is as follows: (in millions of $) 2022 2021 2020 Golden Ocean: Operating lease income 52.3 50.5 52.0 Profit share 3.0 9.8 — Frontline Shipping: Direct financing lease interest income 0.4 1.5 1.7 Direct financing lease service revenue 1.7 6.6 6.9 Direct financing lease repayments 1.8 6.3 6.5 Profit share — 0.3 18.6 Seadrill: Direct financing lease interest income — 3.7 3.5 Direct financing lease repayments — 2.7 2.8 Operating lease income 17.8 28.9 —
Schedule of related party transactions	Year ended (in thousands of $) December 31, 2022 December 31, 2021 December 31, 2020 Frontline: Vessel Management Fees 3,679 7,794 8,893 Newbuilding Supervision Fees 1,030 132 — Commissions and Brokerage 498 260 364 Administration Services Fees 7 159 82 Golden Ocean: Vessel Management Fees 20,440 20,440 20,496 Operating Management Fees 22 389 887 Administration Services Fees — 56 70 Seatankers: Administration Services Fees* 428 226 520 Front Ocean: Administration Services Fees 483 23 — Office Facilities: Seatankers Management Norway AS 106 112 94 Frontline Management AS 341 252 186 Frontline Corporate Services Ltd. 93 187 226 Frontline Shipping Singapore Pte Ltd. — 19 — Golden Ocean Shipping Co Pte. Ltd. 80 — — Flex LNG Management Ltd 3 — — * During the year ended December 31, 2021, a credit note of $0.3 million was received in relation to 2020 fees paid. Dividends and interest income received from shares held in and secured notes issued by related parties: Year ended (in thousands of $) December 31, 2022 December 31, 2021 December 31, 2020 Dividends received ADS Maritime Holding — — 2,930 Frontline — — 3,100 NorAm Drilling 128 — — Interest income received NorAm Drilling 463 443 420
Related party loans, associated companies	A summary of loans entered into with the associated companies are as follows: (in millions of $) River Box Loans granted 45 Loans outstanding as of December 31, 2022 45
Interest income on related party loans	Interest income received on the loans to associated companies is as follows: Year ended (in millions of $) December 31, 2022 December 31, 2021 December 31, 2020 River Box 4.6 4.6 — SFL Deepwater — — 3.8 SFL Hercules — 2.4 3.6 SFL Linus — — 4.5

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair values of derivative instruments designated and not designated as cash flow hedges	The following tables present the fair values of the Company's derivative instruments that were designated as cash flow hedges and qualified as part of a hedging relationship, and those that were not designated: (in thousands of $) 2022 2021 Designated derivative instruments -short-term assets: Interest rate swaps 1,229 — Non-designated derivative instruments -short-term assets: Interest rate swaps 707 — Total derivative instruments -short-term assets 1,936 — Designated derivative instruments -long-term assets: Interest rate swaps 12,963 2,077 Cross currency swaps — 1,019 Non-designated derivative instruments -long-term assets: Interest rate swaps 13,753 88 Total derivative instruments - long-term assets 26,716 3,184 (in thousands of $) 2022 2021 Designated derivative instruments -short-term liabilities: Interest rate swaps — 68 Cross currency interest rate swaps 2,260 — Cross currency swaps 14,601 — Non-designated derivative instruments -short-term liabilities: Interest rate swaps — 670 Total derivative instruments - short-term liabilities 16,861 738 Designated derivative instruments -long-term liabilities: Interest rate swaps — 2,316 Cross currency interest rate swaps 4,054 2,685 Cross currency swaps 10,233 10,038 Non-designated derivative instruments -long-term liabilities: Interest rate swaps — 2,159 Cross currency swaps 70 11 Total derivative instruments - long-term liabilities 14,357 17,209
Schedule of interest rate swap transactions	As of December 31, 2022, the Company and its consolidated subsidiaries had entered into interest rate swap transactions, involving the payment of fixed rates in exchange for LIBOR or NIBOR, as summarized below. The summary includes all swap transactions, most of which are hedges against specific loans. Notional Principal (in thousands of $) Trade date Maturity date Fixed interest rate $100,000 (remaining at $100,000) March 2013 April 2023 1.85% - 1.97% $56,000 (remaining at $56,000) June 2019 September 2023 1.84% † $14,699 (equivalent to NOK128 million) June 2019 September 2023 6.70% - 6.77% * $11,254 (equivalent to NOK100 million) August 2019 September 2023 6.378% * $30,000 (remaining at $30,000) May 2019 June 2024 2.15% † $48,332 (equivalent to NOK420 million) May 2019 June 2024 6.85% - 6.90% * $100,000 (remaining at $100,000) August 2019 August 2029 1.45% - 1.60% $67,500 (remaining at $67,500) January 2020 October 2024 1.40% † $127,668 (reducing to $92,233) April 2020 January 2025 0.46% - 0.47% * These swaps relate to the NOK700 million and NOK700 million unsecured bonds due 2023 and 2024 respectively, whereby the fixed interest rate paid is exchanged for NIBOR plus the margin on the bond.
Schedule of currency swap transactions	Principal Receivable Principal Payable Trade date Maturity date NOK600 million US$76.8 million September 2018 September 2023 NOK100 million US$11.3 million August 2019 September 2023 NOK700 million US$80.5 million May 2019 June 2024 NOK600 million US$67.5 million January 2020 January 2025
Schedule of carrying value and estimated fair value of financial assets and liabilities	The carrying value and estimated fair value of the Company's financial assets and liabilities as of December 31, 2022, and 2021, are as follows: 2022 2022 2021 2021 (in thousands of $) Carrying value Fair value Carrying value Fair value Non-derivatives: Available-for-sale debt securities — — 9,680 9,680 Equity Securities 7,283 7,283 1,292 1,292 Equity securities pledged to creditors — — 10,238 10,238 NOK700 million senior unsecured floating rate bonds due 2023 71,243 71,421 79,507 79,586 NOK700 million senior unsecured floating rate bonds due 2024 70,734 70,734 78,939 79,077 NOK600 million senior unsecured floating rate bonds due 2025 60,048 60,348 61,334 60,133 4.875% unsecured convertible bonds due 2023 137,900 137,211 137,900 138,727 7.25% unsecured sustainability linked bonds due 2026 150,000 144,188 150,000 153,563 Derivatives: Interest rate/ currency swap contracts – short-term receivables 1,936 1,936 — — Interest rate/ currency swap contracts – long-term receivables 26,716 26,716 3,184 3,184 Interest rate/ currency swap contracts – short-term payables 16,861 16,861 738 738 Interest rate/ currency swap contracts – long-term payables 14,357 14,357 17,209 17,209
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The above fair values of financial assets and liabilities as of December 31, 2022, are measured as follows: Fair value measurements using December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Equity securities 7,283 7,283 Interest rate/ currency swap contracts – short-term receivables 1,936 1,936 Interest rate/ currency swap contracts - long-term receivables 26,716 26,716 Total assets 35,935 7,283 28,652 — Liabilities: NOK700 million senior unsecured floating rate bonds due 2023 71,421 71,421 NOK700 million senior unsecured floating rate bonds due 2024 70,734 70,734 NOK600 million senior unsecured floating rate bonds due 2025 60,348 60,348 4.875% unsecured convertible bonds due 2023 137,211 137,211 7.25% unsecured sustainability linked bonds due 2026 144,188 144,188 Interest rate/ currency swap contracts – short-term payables 16,861 16,861 Interest rate/ currency swap contracts – long-term payables 14,357 14,357 Total liabilities 515,120 483,902 31,218 — The above fair values of financial assets and liabilities as of December 31, 2021, were measured as follows: Fair value measurements using December 31, 2021 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (in thousands of $) (Level 1) (Level 2) (Level 3) Assets: Available-for-sale debt securities 9,680 4,619 5,061 Equity securities 1,292 1,292 Equity securities pledged to creditors 10,238 10,238 Interest rate/ currency swap contracts – long-term receivables 3,184 3,184 Total assets 24,394 16,149 8,245 — Liabilities: NOK700 million senior unsecured floating rate bonds due 2023 79,586 79,586 NOK700 million senior unsecured floating rate bonds due 2024 79,077 79,077 NOK600 million senior unsecured floating rate bonds due 2025 60,133 60,133 4.875% unsecured convertible bonds due 2023 138,727 138,727 7.25% unsecured sustainability linked bonds due 2026 153,563 153,563 Interest rate/ currency swap contracts – short-term payables 738 738 Interest rate/ currency swap contracts – long-term payables 17,209 17,209 Total liabilities 529,033 511,086 17,947 —
Schedules of concentration of risk, by customer	There is also a concentration of revenue risk with the below customers: Charterer Number of Vessels /rigs chartered as of December 31, 2022 % of consolidated operating revenues (Year ended December 31, 2022) Number of Vessels /rigs chartered as of December 31, 2021 % of consolidated operating revenues (Year ended December 31, 2021) Maersk A/S (“Maersk”) 16 31 % 15 32 % Evergreen Marine Corporation (Taiwan) Ltd. and its affiliate Evergreen Marine (Singapore) Pte Ltd. (collectively “Evergreen”) 6 15 % 6 15 % Trafigura Maritime Logistics Pte Ltd (“Trafigura”) 7 9 % 3 — % Golden Ocean* 8 8 % 8 12 % Conocophillips Skandinavia AS ("Conocophillips")** 1 3 % — — % MSC 9 1 % 10 2 % * Additionally see Note 26: Related Party Transactions. ** In September 2022, the drilling rig Linus was redelivered from Seadrill to SFL. Concurrently, the drilling contract of Linus with ConocoPhillips was assigned from Seadrill to the Company.

ALLOWANCE FOR EXPECTED CREDIT_2

ALLOWANCE FOR EXPECTED CREDIT LOSSES (Tables)	12 Months Ended
	Dec. 31, 2022
Credit Loss [Abstract]
Balance Sheet items, allowance for credit loss	The following table presents the impact of the allowance for expected credit losses on the Company's balance sheet line items for the year ended December 31, 2022. (in thousands of $) Trade receivables Other receivables Related Party receivables Investment in sales-type, direct financing leases and leaseback assets Other long-term assets Total Balance as of December 31, 2021 96 486 3,255 1,263 1,888 6,988 Derecognition of Seadrill credit loss balances — — (3,200) — — (3,200) Change in allowance recorded in 'other financial items' 164 418 (25) (1,071) (8) (522) Balance as of December 31, 2022 260 904 30 192 1,880 3,266

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of assets pledged	Assets Pledged (in millions of $) 2022 2021 Vessels, rigs and equipment, net 2,460 2,107 Investments in sales-type, direct financing leases and leaseback assets 119 203 Book value of consolidated assets pledged under ship mortgages 2,579 2,310
Schedule of assets with finance lease liabilities	Assets with finance lease liabilities (in millions of $) 2022 2021 Vessels under finance lease, net 615 656 Total book value 615 656

GENERAL (Details)

GENERAL (Details)	Dec. 31, 2022 carrier	Dec. 31, 2022 vessel	Dec. 31, 2022 drillingRig	Dec. 31, 2022 tanker	Dec. 31, 2020 vessel
Off Shore Assets And Charters [Line Items]
Number of Suezmax crude oil carriers owned | carrier	9
Number of Supramax drybulk carriers owned | carrier	5
Number of Kamsarmax drybulk carriers owned | carrier	2
Number of capesize drybulk carriers owned | carrier	8
Number of container vessels owned | vessel		32
Number of container vessels contracted to be chartered in | vessel		4			4
Vessels with finance lease liabilities with a net book value | vessel		7
Number of car carriers | carrier	3
Number of jack-up drilling rigs owned | drillingRig			1
Number of ultra deepwater drilling units owned | drillingRig			1
Number of chemical tankers owned | tanker				2
Number of oil product tankers contracted to be acquired | tanker				6
Number of VLCCs accounted for as leaseback assets | vessel		1
Number of leased-in container vessels | vessel		4
Newbuilding dual-fuel car carriers using liquefied natural gas
Off Shore Assets And Charters [Line Items]
Number of dual-fuel car carriers	4	4

ACCOUNTING POLICIES (Details)

ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2020 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2019 USD ($)	Apr. 23, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of container vessels accounted for as direct financing leases | vessel		15
Interest costs capitalized	$ 2,700	$ 400	$ 0
Number of vessels with finance lease liabilities | vessel	7
Rig periodic surveys (in years)	5 years
Stockholders' equity attributable to parent	$ 1,091,231	982,327	795,651
$4.875% unsecured convertible bonds due 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest rate (as a percent)	4.875%					4.875%
Retained earnings / (accumulated deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent	$ 40,015	(92,720)	(257,063)		$ 0
Additional paid-in capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent	$ 616,554	621,037	$ 531,382		469,426
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent				$ (1,600)
Cumulative Effect, Period Of Adoption, Adjustment | Retained earnings / (accumulated deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent		4,285		4,300	$ (32,638)
Cumulative Effect, Period Of Adoption, Adjustment | Additional paid-in capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent		$ (5,863)		$ (5,900)
Offshore Vessels and Rigs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated economic useful life (in years)	30 years
Other Capitalized Property Plant and Equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated economic useful life (in years)	25 years
Office Equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Depreciation, rate (in percentage)	20%
River Box
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage			49.90%
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage of disposed assets			50.10%
Maersk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of container vessels accounted for as direct financing leases | vessel	7

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	1

EARNINGS (LOSS) PER SHARE (Deta

EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Apr. 30, 2018	Apr. 23, 2018	Nov. 30, 2016
Basic earnings (loss) per share:
Net income/(loss) available to stockholders		$ 202,768	$ 164,343	$ (224,425)
Diluted earnings (loss) per share:
Interest and other expenses/(gains) attributable to convertible notes		7,501	16,166	0
Net income/(loss) assuming dilution		$ 210,269	$ 180,509	$ (224,425)
Basic earnings per share:
Weighted average number of common shares outstanding (in shares)		126,789,000	122,141,000	108,972,000
Diluted earnings per share:
Weighted average number of common shares outstanding (in shares)		126,789,000	122,141,000	108,972,000
Effect of dilutive share options (in shares)		112,000	0	0
Effect of dilutive convertible bonds (in shares)		10,476,000	17,242,000	0
Weighted average number of diluted common shares outstanding (in shares)		137,377,000	139,383,000	108,972,000
Basic earnings/(loss)per share (in dollars per share)		$ 1.60	$ 1.35	$ (2.06)
Diluted earnings/(loss) per share (in dollars per share)		$ 1.53	$ 1.30	$ (2.06)
Shares issued and loaned to affiliate (in shares)	8,000,000
Total authorized for share lending arrangement (in shares)					7,000,000
General share lending agreement
Diluted earnings per share:
Shares loaned to affiliate (in shares)							8,000,000
Senior unsecured convertible bonds due 2021
Diluted earnings per share:
Interest rate (in percentage)	5.75%		5.75%
Shares loaned to affiliate (in shares)					3,765,842
$4.875% unsecured convertible bonds due 2023
Diluted earnings per share:
Interest rate (in percentage)		4.875%				4.875%
Shares loaned to affiliate (in shares)		3,765,842

EARNINGS (LOSS) PER SHARE (Narr

EARNINGS (LOSS) PER SHARE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2021	Apr. 23, 2018	Oct. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Long-term debt	$ 2,213,636	$ 1,903,755
Repurchase of bonds	$ 0	$ 215,098	$ 66,570
Senior unsecured convertible bonds due 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate (in percentage)		5.75%				5.75%
Long-term debt				$ 144,700
Repurchase of bonds		$ 67,600
$4.875% unsecured convertible bonds due 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate (in percentage)	4.875%				4.875%
Long-term debt	$ 137,900	137,900
Repurchase of bonds		$ 2,000	$ 8,400

OPERATING LEASES (Details)

OPERATING LEASES (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 491,809
2024	379,932
2025	210,439
2026	213,003
2027	142,044
Thereafter	103,202
Total minimum lease revenues	$ 1,540,429

OPERATING LEASES (Additional In

OPERATING LEASES (Additional Information) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) vessel carrier	Dec. 31, 2021 USD ($) vessel
Leases [Abstract]
Number of container vessels being upgraded | vessel	7	7
Number of car carriers which are on time charter contracts | carrier	1
Income from cost savings agreement | $	$ 24.8	$ 10.6

OPERATING LEASES (Cost and Accu

OPERATING LEASES (Cost and Accumulated Depreciation of Vessels Leased to Third Parties on Non-cancelable Operating Leases) (Details) - Vessels leased to others - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Cost	$ 3,062,551	$ 3,393,588
Accumulated depreciation	(614,698)	(610,622)
Total	$ 2,447,853	$ 2,782,966

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Information About Receivables, Contract Assets, and Contract Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Trade accounts receivable from contracts with customers, net	$ 10,209	$ 1,505
Contract assets, current	10,102	1,958
Contract liabilities, current	(1,585)	(115)
Expected credit loss relating to trade accounts receivables from contracts with customers	300	100
Fees received	$ 0	$ 0

GAIN ON SALE OF ASSETS AND TE_3

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Summary) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Component of Operating Income [Abstract]
Gain on sale of vessels	$ 13,228	$ 39,405	$ 2,250

GAIN ON SALE OF ASSETS AND TE_4

GAIN ON SALE OF ASSETS AND TERMINATION OF CHARTERS (Gain on Sale of Vessels) (Details) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($) vessel	Feb. 29, 2020 USD ($)	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2020 USD ($) vessel
Property, Plant and Equipment [Line Items]
Number of feeder container vessels accounted for as direct financing leases sold | vessel				2	18
Gain (loss) on sale of vessel				$ 13,228	$ 39,405	$ 2,250
Number of feeder container vessels accounted for as leaseback assets sold | vessel					3
Lessor, operating lease, number of lease assets sold | vessel	7		7		7	4
Termination fee						$ 3,200
Front Force and Front Energy
Property, Plant and Equipment [Line Items]
Gain on sale of vessels				1,500
Net sales proceeds from sale of vessels				65,400
MSC Alice 1700 twenty-foot equivalent unit ("TEU") container vessel
Property, Plant and Equipment [Line Items]
Gain on sale of vessels				11,700
Net sales proceeds from sale of vessels				13,500
18 MSC feeder container vessels
Property, Plant and Equipment [Line Items]
Proceeds from sale of vessels and termination of charters					$ 82,000
Gain on sale of leased assets, net, operating leases					600
Handysize vessels
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of vessel			$ 39,300		39,300
Proceeds from sale of vessels and termination of charters					$ 97,700
West Taurus
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of vessel	$ (600)
Front Hakata
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of vessel		$ 1,400
Proceeds from sale of vessels and termination of charters						30,300
Sea Cheetah, Sea Jaguar, Sea Halibut and Sea Pike
Property, Plant and Equipment [Line Items]
Proceeds from sale of vessels and termination of charters						4,300
Gain on sale of leased assets, net, operating leases						900
Sea Leopard
Property, Plant and Equipment [Line Items]
Gain (loss) on sale of vessel						(30)
Hunter Atla, Hunter Saga and Hunter Laga
Property, Plant and Equipment [Line Items]
Proceeds from sale of vessels and termination of charters						$ 176,200
Front Force and Front Energy
Property, Plant and Equipment [Line Items]
Termination fee on termination of charters				$ 4,500

GAIN ON SALE OF SUBSIDIARIES (N

GAIN ON SALE OF SUBSIDIARIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of subsidiaries, operating	$ 0	$ 0	$ 1,894
River Box
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage			49.90%
River Box | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage of disposed assets			50.10%
Net proceeds received			$ 17,500
Gain on sale of subsidiaries, operating			1,900
Long-term loan from related party	$ 45,000	$ 45,000	$ 45,000

GAIN ON SALE OF SUBSIDIARIES (R

GAIN ON SALE OF SUBSIDIARIES (River Box Company Net Assets Held at time of Disposal) (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - River Box - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents			$ 2,859
Investments in sales-type and direct financing leases			540,908
Finance lease liability			(464,740)
Long-term loan from related party	$ (45,000)	$ (45,000)	(45,000)
Other current liabilities			(2,861)
Net assets			$ 31,166

OTHER FINANCIAL ITEMS, NET (Det

OTHER FINANCIAL ITEMS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net cash movement on non-designated derivatives and swap settlements	$ (348)	$ (6,715)	$ (9,272)
Total net movement in fair value of non-designated derivatives	17,142	11,591	(20,433)
Allowance for expected credit losses	522	722	(1,771)
Other items	(1,788)	1,085	5,531
Total other financial items, net	15,528	6,683	(25,945)
Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net cash movement on non-designated derivatives and swap settlements	(341)	(6,707)	(4,575)
Total net movement in fair value of non-designated derivatives	17,202	11,607	(15,314)
Cross currency swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net cash movement on non-designated derivatives and swap settlements	(7)	(8)	(6)
Total net movement in fair value of non-designated derivatives	(60)	(16)	5
Cross currency interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net cash movement on non-designated derivatives and swap settlements	0	0	(152)
Total net movement in fair value of non-designated derivatives	0	0	(5,124)
Interest rate swap after debt refinancing
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net cash movement on non-designated derivatives and swap settlements	$ 0	$ 0	$ (4,539)

OTHER FINANCIAL ITEMS, NET (Add

OTHER FINANCIAL ITEMS, NET (Additional Information) (Details) $ in Thousands, shares in Millions, kr in Millions		12 Months Ended
	Oct. 20, 2020 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Oct. 20, 2020 NOK (kr)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss on derivative instrument reclassified from another comprehensive income		$ 0	$ 0	$ 1,059
Credit loss provision		522	722	(1,771)
Shares received under debt restructuring agreement (in shares) | shares	4.4
Cash compensation received under debt restructuring agreement	$ 1,100				kr 10
(Loss) gain on foreign currency translation		$ (700)	(400)	5,600
Solstad Offshore ASA
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gain on the sale of shares				$ 2,600
Norwegian Shipowners' Mutual War Risks Insurance Association
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity distribution			$ 2,600
Period of equity distribution based on proportion of premiums paid			10 years

INVESTMENTS IN DEBT AND EQUIT_3

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Schedule of Marketable Securities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Corporate Bonds
Balance at start of the year	$ 9,680	$ 9,431
Disposals during the year	(14,239)	0
Additions during the year	0
Fair value adjustments to available-for-sale securities	(631)	(284)
Realized gain (loss)	5,190	0
Accumulated unrealized gain (loss)	0	(817)
Balance at end of the year	0	9,680
Equity Securities
Balance at start of the year	11,530	19,374
Disposals during the year	(17,422)	(9,608)
Unrealized gain/(loss)	8,389	1,087
Realized gain	4,592	725
Foreign currency translation loss	194	(48)
Balance at the end of year	7,283	11,530
Total Investment in Debt and Equity Securities	7,283	21,210
Equity Securities pledged to creditors	$ 0	$ 10,238

INVESTMENTS IN DEBT AND EQUIT_4

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Schedule of Corporate Bonds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortised Cost	$ 0	$ 9,049
Unrealized gain/(losses)	0	631
Fair value	0	9,680	$ 9,431
NorAm Drilling
Debt Securities, Available-for-sale [Line Items]
Amortised Cost	0	4,132
Unrealized gain/(losses)	0	487
Fair value	$ 0	$ 4,619
NT Rig Holdco 12%
Debt Securities, Available-for-sale [Line Items]
Redemption price, percentage	12%	12%
Amortised Cost	$ 0	$ 4,917
Unrealized gain/(losses)	0	144
Fair value	$ 0	$ 5,061
NT Rig Holdco $7.5%
Debt Securities, Available-for-sale [Line Items]
Redemption price, percentage	7.50%	7.50%
Amortised Cost	$ 0	$ 0
Unrealized gain/(losses)	0	0
Fair value	$ 0	$ 0

INVESTMENTS IN DEBT AND EQUIT_5

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Narrative) (Details) $ in Thousands, shares in Millions	1 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) shares	Dec. 31, 2019 shares	Dec. 31, 2022 USD ($) jackUpRig shares	Dec. 31, 2021 USD ($) vessel shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) shares	Mar. 31, 2021 vessel
Debt Securities, Available-for-sale [Line Items]
Accumulated unrealized gain (loss)			$ 0	$ (817)
Additions during the year			0
Realized gain (loss)			5,190	0
Unrealized gain/(loss)			8,389	1,087
Equity Securities
Debt Securities, Available-for-sale [Line Items]
Disposition of investment				800
NorAm Drilling
Debt Securities, Available-for-sale [Line Items]
Proceeds from redemption of debt and equity securities			4,700
Accumulated unrealized gain (loss)			500
Disposition of investment						$ 300
Corporate Bond Securities, Oro Negro 12%
Debt Securities, Available-for-sale [Line Items]
Accumulated unrealized gain (loss)					$ 100
Redemption price, percentage					12%
Corporate Bond Securities, Oro Negro 7.5%
Debt Securities, Available-for-sale [Line Items]
Redemption price, percentage					7.50%
NT Rig Holdco 12%
Debt Securities, Available-for-sale [Line Items]
Proceeds from redemption of debt and equity securities			$ 9,600
Accumulated unrealized gain (loss)				$ (300)	$ 400
Redemption price, percentage			12%	12%
Additions during the year				$ 1,350	1,300
Number of jack up rigs | jackUpRig			5
NT Rig Holdco $7.5%
Debt Securities, Available-for-sale [Line Items]
Accumulated unrealized gain (loss)				$ 0	0
Redemption price, percentage			7.50%	7.50%
Aggregate impairment charge				$ 800	$ 4,300
Realized gain (loss)			$ 4,700
Common stock - Frontline Ltd
Debt Securities, Available-for-sale [Line Items]
Forward contract to repurchase shares (shares) | shares	1.4	3.4	1.4	1.4
Number of shares sold (in shares) | shares					2
Disposals during the year					$ 21,100
Realized gain on investments					2,300
Security borrowed, repurchase price			$ 16,700
Forward contract shares, purchase price				$ 16,400
Extinguishment of debt, amount	$ 15,600
Unrealized gain/(loss)			2,600	1,200	(16,000)
Common stock - NorAm Drilling
Debt Securities, Available-for-sale [Line Items]
Unrealized gain/(loss)			$ 5,800	$ (100)	(2,500)
Investment owned (in shares) | shares			1.3	1.3			1.3
Foreign exchange gain (loss)			$ 200	$ 0	(300)
Common Stock, ADS
Debt Securities, Available-for-sale [Line Items]
Unrealized gain/(loss)				0	(3,900)
Foreign exchange gain (loss)				0	$ (400)
ADS Maritime Holding
Debt Securities, Available-for-sale [Line Items]
Realized gain on investments				700
Final dividend distribution				$ 8,800
Number of vessels sold | vessel				2				2
ADS Maritime Holding | Common Stock, ADS
Debt Securities, Available-for-sale [Line Items]
Investment owned (in shares) | shares							4
Payments to acquire businesses, gross							$ 10,000

INVESTMENTS IN DEBT AND EQUIT_6

INVESTMENTS IN DEBT AND EQUITY SECURITIES (Shares) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 7,283	$ 11,530	$ 19,374
Equity Securities pledged to creditors	0	10,238
Common stock - Frontline Ltd
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	0	10,238
Equity Securities pledged to creditors	0	10,200
Common stock - NorAm Drilling
Debt and Equity Securities, FV-NI [Line Items]
Equity securities	$ 7,283	$ 1,292

TRADE ACCOUNTS RECEIVABLE AND_2

TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Trade receivables
Allowance for Expected Credit Losses [Line Items]
Accounts receivable, allowance for credit loss, current	$ 0.3	$ 0.1
Other receivables
Allowance for Expected Credit Losses [Line Items]
Accounts receivable, allowance for credit loss, current	$ 0.9	$ 0.5

VESSELS, RIGS AND EQUIPMENT, _3

VESSELS, RIGS AND EQUIPMENT, NET (Schedule of Vessels and Equipment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Depreciation
Depreciation	$ (187,827)	$ (138,330)	$ (111,279)
Vessels, Rigs and Equipment, net
Depreciation	(187,827)	(138,330)	(111,279)
Vessels, rigs and equipment, net
Cost
Vessel additions	560,800
Accumulated Depreciation
Depreciation	(146,500)	(97,000)	(71,300)
Vessels, Rigs and Equipment, net
Depreciation	(146,500)	(97,000)	$ (71,300)
Vessel additions	560,800
Cost
Cost
Capital improvements	1,600	14,400
Vessels, Rigs and Equipment, net
Capital improvements	1,600	14,400
Cost | Vessels, rigs and equipment, net
Cost
Beginning balance	2,782,909
Vessel additions	560,750
Capital improvements	1,574
Ending balance	3,345,233	2,782,909
Vessels, Rigs and Equipment, net
Vessel additions	560,750
Capital improvements	1,574
Accumulated Depreciation | Vessels, rigs and equipment, net
Accumulated Depreciation
Beginning balance	(552,326)
Depreciation	(146,518)
Ending balance	(698,844)	(552,326)
Vessels, Rigs and Equipment, net
Depreciation	(146,518)
Vessels, Rigs and Equipment, net | Vessels, rigs and equipment, net
Cost
Vessel additions	560,750
Capital improvements	1,574
Accumulated Depreciation
Depreciation	(146,518)
Vessels, Rigs and Equipment, net
Beginning balance	2,230,583
Depreciation	(146,518)
Vessel additions	560,750
Capital improvements	1,574
Ending balance	$ 2,646,389	$ 2,230,583

VESSELS, RIGS AND EQUIPMENT, _4

VESSELS, RIGS AND EQUIPMENT, NET (Narrative) (Details) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 09, 2021 USD ($)	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2021 USD ($) vessel	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($) vessel numberOfDrillingUnits	Dec. 31, 2020 USD ($) vessel
Property Subject to or Available for Operating Lease [Line Items]
Depreciation				$ 187,827	$ 138,330	$ 111,279
Gain on sale of vessels				$ 13,228	$ 39,405	$ 2,250
Number of vessels for which impairment has been recognized | vessel						7
Lessor, operating lease, number of lease assets sold | vessel		7	7		7	4
Number of offshore support vessels sold | vessel						5
Number of vessels upgraded | vessel						4
Number of vessels accounted for under finance leases | vessel				7		1
West Taurus
Property Subject to or Available for Operating Lease [Line Items]
Gain on sale of vessels		$ (600)
Handysize vessels
Property Subject to or Available for Operating Lease [Line Items]
Gain on sale of vessels			$ 39,300		$ 39,300
Sea Cheetah, Sea Jaguar, Sea Halibut and Sea Pike
Property Subject to or Available for Operating Lease [Line Items]
Gain on sale of leased assets, net, operating leases						$ 900
West Taurus
Property Subject to or Available for Operating Lease [Line Items]
Tangible asset impairment charges					(1,900)	(252,600)
Gain on sale of vessels					(600)
West Linus
Property Subject to or Available for Operating Lease [Line Items]
Reclassification from/(to) investments in sales-type/direct financing leases and leaseback assets	$ 355,600
Cost
Property Subject to or Available for Operating Lease [Line Items]
Capital improvements				$ 1,600	14,400
Cost | West Hercules
Property Subject to or Available for Operating Lease [Line Items]
Vessel additions					$ 261,600
Cost | West Taurus
Property Subject to or Available for Operating Lease [Line Items]
Vessel additions						258,100
West Linus
Property Subject to or Available for Operating Lease [Line Items]
Number of drilling units reclassified from finance lease to operating lease | numberOfDrillingUnits					1
Vessels, rigs and equipment, net
Property Subject to or Available for Operating Lease [Line Items]
Vessel additions				560,800
Depreciation				146,500	$ 97,000	71,300
Tangible asset impairment charges				0		$ (80,300)
Vessels, rigs and equipment, net | Cost
Property Subject to or Available for Operating Lease [Line Items]
Vessel additions				560,750
Capital improvements				$ 1,574
Construction in progress
Property Subject to or Available for Operating Lease [Line Items]
Number of container vessels transferred | vessel		10	10	3	10
Suezmax tanker
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels delivered | vessel				6
LR2 product tankers
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels delivered | vessel				2
Newbuild 2,500 TEU Container Vessels
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels delivered | vessel				2
4,900 CEU Car Carrier
Property Subject to or Available for Operating Lease [Line Items]
Number of vessels delivered | vessel				1

CAPITAL IMPROVEMENTS, NEWBUILID

CAPITAL IMPROVEMENTS, NEWBUILIDNGS AND VESSEL PURCHASE DEPOSITS (Schedule of carrying values of property changes and updates) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Capital improvements in progress	$ 4,127	$ 591
Newbuildings	93,733	46,093
Vessel purchase deposits	0	11,000
Capital improvements, newbuildings and vessel purchase deposits	$ 97,860	$ 57,684

CAPITAL IMPROVEMENTS, NEWBUIL_2

CAPITAL IMPROVEMENTS, NEWBUILDINGS AND VESSEL PURCHASE DEPOSITS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) vessel contract	Dec. 31, 2021 USD ($) contract tanker vessel	Dec. 31, 2020 USD ($)
Property, Plant and Equipment [Line Items]
Interest costs capitalized	$ 2.7	$ 0.4	$ 0
Newbuild vessel deposit		$ 11
Number of Suezmax tankers | tanker		2
Construction in progress
Property, Plant and Equipment [Line Items]
Number of vessels committed to vessel upgrades | vessel	2	3
Newbuilding Vessels
Property, Plant and Equipment [Line Items]
Number of newbuilding contracts | contract	4	4
Interest costs capitalized	$ 2.7	$ 0.4	$ 0

VESSELS UNDER FINANCE LEASE, _3

VESSELS UNDER FINANCE LEASE, NET (Schedule of Finance Lease) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cost
Beginning balance	$ 777,939
Ending balance	777,939	$ 777,939
Accumulated Depreciation
Beginning balance	(121,867)
Depreciation	(41,309)
Ending balance	(163,176)	(121,867)
Vessels under Finance Lease, net
Beginning balance	656,072
Depreciation	(41,309)	(41,300)	$ (40,000)
Ending balance	$ 614,763	$ 656,072

VESSELS UNDER FINANCE LEASE, _4

VESSELS UNDER FINANCE LEASE, NET (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) vessel	Dec. 31, 2018
Vessels under capital lease, net [Line Items]
Number of vessels accounted for under finance leases	7		1
Number of years before option to buy vessel is available	6 years			6 years
Depreciation | $	$ 41,309	$ 41,300	$ 40,000
14,000 TEU Containership
Vessels under capital lease, net [Line Items]
Number of vessels accounted for under finance leases	4
10,600 TEU Containership
Vessels under capital lease, net [Line Items]
Number of vessels accounted for under finance leases	3
Minimum
Vessels under capital lease, net [Line Items]
Term of lease or charter	6 years			6 years
Maximum
Vessels under capital lease, net [Line Items]
Term of lease or charter	11 years			11 years

OTHER LONG TERM ASSETS (Schedul

OTHER LONG TERM ASSETS (Schedule of Long-Term Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Collateral deposits on swap agreements	$ 8,770	$ 10,368
Value of acquired charter-out contracts, net	4,712	7,607
Other	0	566
Total other long-term assets	$ 13,482	$ 18,541

OTHER LONG TERM ASSETS (Narrati

OTHER LONG TERM ASSETS (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) vessel
Property, Plant and Equipment [Line Items]
Long term receivables			$ 0	$ 1.9
Credit loss provision			1.9
Container vessels | Evergreen Marine
Property, Plant and Equipment [Line Items]
Number of vessels acquired | vessel					4
Time charters					$ 18
Amortization of time charters	$ 2.9	$ 2.9	$ 2.9

INVESTMENTS IN SALES-TYPE LEA_3

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Schedule of Investments in Sales-Type and Direct Financing Leases and Leaseback Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Investments in sales-type and direct financing leases	$ 66,504	$ 147,230
Investments in leaseback assets	52,519	57,536
Total	$ 119,023	$ 204,766

INVESTMENTS IN SALES-TYPE LEA_4

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Narrative) (Details) $ in Thousands		1 Months Ended		12 Months Ended
	Mar. 09, 2021 USD ($)	May 31, 2020	Feb. 29, 2020 USD ($)	Dec. 31, 2022 USD ($) vessel tanker	Dec. 31, 2021 USD ($) vessel tanker	Dec. 31, 2020 USD ($) vessel	Dec. 31, 2019 vessel	Jun. 30, 2015 vessel
Sale Leaseback Transaction [Line Items]
Gain on sale of vessels				$ 13,228	$ 39,405	$ 2,250
Term of lease charter				7 years
Term of charters, maximum (in years)		7 years
Number of container vessels accounted for as direct financing leases | vessel					15
Vessel impairment charge				$ 0	$ 1,927	$ 333,149
Equity method investment, number of chartered-in vessels | vessel						4
Number of vessels accounted for as leaseback assets | vessel							6
MSC
Sale Leaseback Transaction [Line Items]
Number of vessels accounted for as leaseback assets | vessel					3		3
Term of lease or charter							6 years
Hunter Group ASA
Sale Leaseback Transaction [Line Items]
Number of vessels accounted for as leaseback assets | tanker					3
Term of lease or charter					5 years
Number of container vessels | vessel						3
Proceeds from sale of vessels and termination of charters						$ 176,200
Debt repaid						142,500
Front Hakata
Sale Leaseback Transaction [Line Items]
Gain on sale of vessels			$ 1,400
Proceeds from sale of vessels and termination of charters						$ 30,300
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box
Sale Leaseback Transaction [Line Items]
Ownership percentage of disposed assets						50.10%
Investments in sales-type and direct financing leases						$ 540,908
West Linus
Sale Leaseback Transaction [Line Items]
Reclassifications for property, plant, and equipment	$ 355,600
West Linus
Sale Leaseback Transaction [Line Items]
Direct financing lease following the sale of River Box						361,000
Front Hakata
Sale Leaseback Transaction [Line Items]
Gain on sale of vessels						$ 1,400
Sea Leopard
Sale Leaseback Transaction [Line Items]
Number of offshore supply vessels under finance lease | vessel						1
Gain (loss) on disposition						$ (30)
Frontline Charterers
Sale Leaseback Transaction [Line Items]
Assets accounted for as direct financing leases and leased to related parties | vessel					2			17
Direct financing lease following the sale of River Box					$ 69,800
Sales-Type Leases and Direct Financing Leases
Sale Leaseback Transaction [Line Items]
Number of vessel charters | vessel					12
Sales-Type Leases and Direct Financing Leases | MSC
Sale Leaseback Transaction [Line Items]
Number of vessel charters | vessel				9	10
Sales-Type Leases and Direct Financing Leases | Frontline Charterers
Sale Leaseback Transaction [Line Items]
Assets accounted for as direct financing leases and leased to related parties | tanker					2
Assets accounted for as direct financing lease, number sold | tanker				2
Leaseback Assets
Sale Leaseback Transaction [Line Items]
Number of vessel charters | vessel				1	1
Investments in sales-type, direct financing leases and leaseback assets
Sale Leaseback Transaction [Line Items]
Vessel impairment charge						$ 200

INVESTMENTS IN SALES-TYPE LEA_5

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Components of Investments in Direct Financing and Sales-type Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	$ 64,868	$ 163,514
Purchase obligations at the end of the leases	74,650	76,400
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments		(34,128)
Net minimum lease payments receivable	139,518	205,786
Estimated residual values of leased property (un-guaranteed)	0	34,721
Less: unearned income	(20,303)	(34,478)
Total investment in sales-type lease, direct financing lease and leaseback assets	119,215	206,029
Allowance for expected credit losses	(192)	(1,263)
Total investment in sales-type lease, direct financing lease and leaseback assets	119,023	204,766
Current portion	15,432	23,484
Long-term portion	103,591	181,282
Sales-Type Leases and Direct Financing Leases
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	30,708	120,411
Purchase obligations at the end of the leases	43,150	44,900
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments		(34,128)
Net minimum lease payments receivable	73,858	131,183
Estimated residual values of leased property (un-guaranteed)	0	34,721
Less: unearned income	(7,252)	(17,532)
Total investment in sales-type lease, direct financing lease and leaseback assets	66,606	148,372
Allowance for expected credit losses	(102)	(1,142)
Total investment in sales-type lease, direct financing lease and leaseback assets	66,504	147,230
Current portion	10,794	18,436
Long-term portion	55,710	128,794
Leaseback Assets
Sale Leaseback Transaction [Line Items]
Total minimum lease payments to be received	34,160	43,103
Purchase obligations at the end of the leases	31,500	31,500
Less: amounts representing estimated executory costs including profit thereon, included in total minimum lease payments		0
Net minimum lease payments receivable	65,660	74,603
Estimated residual values of leased property (un-guaranteed)	0	0
Less: unearned income	(13,051)	(16,946)
Total investment in sales-type lease, direct financing lease and leaseback assets	52,609	57,657
Allowance for expected credit losses	(90)	(121)
Total investment in sales-type lease, direct financing lease and leaseback assets	52,519	57,536
Current portion	4,638	5,048
Long-term portion	$ 47,881	$ 52,488

INVESTMENTS IN SALES-TYPE LEA_6

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Schedule of Minimum Future Gross Revenues) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Sales-Type Leases and Direct Financing Leases
2023	$ 14,688
2024	23,079
2025	36,091
2026	0
2027	0
Thereafter	0
Total minimum lease payments to be received	73,858
Leaseback Assets
2023	8,162
2024	7,686
2025	7,665
2026	7,665
2027	34,482
Thereafter	0
Total minimum lease payments to be received	65,660
Total
2023	22,850
2024	30,765
2025	43,756
2026	7,665
2027	34,482
Thereafter	0
Total minimum lease payments to be received	$ 139,518

INVESTMENTS IN SALES-TYPE LEA_7

INVESTMENTS IN SALES-TYPE LEASES, DIRECT FINANCING LEASES AND LEASEBACK ASSETS (Schedule of Interest Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Sale Leaseback Transaction [Line Items]
Investments in sales type and direct financing leases	$ 5,021	$ 14,173	$ 57,579
Investments in leaseback assets	3,895	5,351	13,637
Total	8,916	19,524	71,216
Interest income related parties – direct financing leases	382	5,186	5,196
Affiliated Entity | Frontline Shipping
Sale Leaseback Transaction [Line Items]
Interest income related parties – direct financing leases	$ 400	$ 1,500	$ 1,700

INVESTMENT IN ASSOCIATED COMP_3

INVESTMENT IN ASSOCIATED COMPANIES (Schedule of Participations Using Equity Method) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
River Box
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (percent)	49.90%	49.90%	49.90%
SFL Hercules Ltd
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (percent)			100%

INVESTMENT IN ASSOCIATED COMP_4

INVESTMENT IN ASSOCIATED COMPANIES (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Gain on sale of subsidiaries, operating		$ 0	$ 0	$ 1,894
Proportion of secured bank lenders in restructuring agreement with Seadrill Limited					97%
Proportion of bondholders in restructuring agreement with Seadrill Limited					40%
Loss on sale of recycling of the rig		(13,228)	(39,405)	$ (2,250)
River Box
Schedule of Equity Method Investments [Line Items]
Ownership percentage				49.90%
River Box
Schedule of Equity Method Investments [Line Items]
Final dividend distribution		$ 2,900	$ 2,200
River Box | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Ownership percentage of disposed assets				50.10%
Gain on sale of subsidiaries, operating				$ 1,900
West Taurus
Schedule of Equity Method Investments [Line Items]
Loss on sale of recycling of the rig	$ 600

INVESTMENT IN ASSOCIATED COMP_5

INVESTMENT IN ASSOCIATED COMPANIES (Summarized Financial Statement Information of Equity Method Investees) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Current assets	$ 296,982	$ 250,316
Total assets	3,861,330	3,459,297
Current liabilities	1,056,611	400,316
Total liabilities	2,770,099	2,476,970
Statement of operations information [Abstract]
Operating revenues	670,393	513,396	$ 471,047
River Box
Schedule of Equity Method Investments [Line Items]
Final dividend distribution	$ 2,900	2,200
SFL Hercules Ltd
Schedule of Equity Method Investments [Line Items]
Final dividend distribution		$ 0
River Box
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (percent)	49.90%	49.90%	49.90%
Current assets	$ 15,186	$ 13,987
Non-current assets	234,572	247,361
Total assets	249,758	261,348
Current liabilities	14,267	13,242
Non-current liabilities	218,944	231,471
Total liabilities	233,211	244,713
Total stockholders' equity	16,547	16,635
Due to parent	45,000	45,000
Statement of operations information [Abstract]
Operating revenues	19,269	20,115
Net operating revenues	19,248	20,094
Net income	2,833	3,267
Interest payable to parent	$ 4,600	4,600	$ 0
SFL Hercules Ltd
Schedule of Equity Method Investments [Line Items]
Participation in equity method investee (percent)			100%
Statement of operations information [Abstract]
Operating revenues		13,753	$ 15,072
Net operating revenues		6,558	15,050
Net income		927	3,827
Interest payable to parent		2,400	3,600
River Box And SFL Hercules
Statement of operations information [Abstract]
Operating revenues		33,868
Net operating revenues		26,652
Net income		$ 4,194
SFL Deepwater Ltd
Statement of operations information [Abstract]
Operating revenues			11,835
Net operating revenues			11,892
Net income			(6,002)
Interest payable to parent			3,800
SFL Linus Ltd
Statement of operations information [Abstract]
Operating revenues			18,666
Net operating revenues			18,590
Net income			6,461
Interest payable to parent			4,500
SFL Deepwater, SFL Hurcules And SFL Linus
Statement of operations information [Abstract]
Operating revenues			45,573
Net operating revenues			45,532
Net income			$ 4,286

INVESTMENT IN ASSOCIATED COMP_6

INVESTMENT IN ASSOCIATED COMPANIES - Movement in allowance for expected credit losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,988
Ending balance	$ 3,266	$ 6,988
River Box
Financing Receivable, Allowance for Credit Loss [Line Items]
Participation in equity method investee (percent)	49.90%	49.90%	49.90%
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 396
Allowance recorded in net income of associated company	(18)
Ending balance	$ 378	$ 396

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued Liabilities [Abstract]
Vessel operating expenses	$ 17,315	$ 11,278
Administrative expenses	1,650	1,626
Interest expense	8,233	6,890
Accrued expenses	$ 27,198	$ 19,794

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Deferred and prepaid charter revenue	$ 27,196	$ 21,505
Employee taxes	45	35
Other items	563	1,206
Other current liabilities	$ 27,804	$ 22,746

SHORT-TERM AND LONG-TERM DEBT_2

SHORT-TERM AND LONG-TERM DEBT (Schedule of Long-Term Debt) (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 NOK (kr)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 NOK (kr)	May 12, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jan. 21, 2020 NOK (kr)	Jun. 04, 2019 NOK (kr)	May 04, 2018 USD ($)	Apr. 23, 2018 USD ($)
Debt Instrument [Line Items]
Total debt principal	$ 2,213,636,000		$ 1,903,755,000
Less: unamortized debt issuance costs	(12,580,000)		(14,541,000)
Less: current portion of long-term debt	(921,270,000)		(302,769,000)
Long-term debt	1,279,786,000		1,586,445,000
$4.875% unsecured convertible bonds due 2023
Debt Instrument [Line Items]
Total debt principal	$ 137,900,000		137,900,000
Interest rate (in percentage)	4.875%	4.875%								4.875%
Aggregate debt amount									$ 14,000,000	$ 150,000,000
7.25% senior unsecured sustainability-linked bonds due 2026
Debt Instrument [Line Items]
Interest rate (in percentage)	7.25%	7.25%
NOK700 million senior unsecured floating rate bonds due 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 71,243,000		79,507,000
Total debt principal	71,200,000	kr 700,000,000	79,500,000	kr 700,000,000
Aggregate debt amount | kr		700,000,000
$4.875% unsecured convertible bonds due 2023
Debt Instrument [Line Items]
Long-term debt, gross	137,900,000		137,900,000
NOK700 million senior unsecured floating rate bonds due 2024
Debt Instrument [Line Items]
Long-term debt, gross	70,734,000		78,939,000
Total debt principal	70,700,000	695,000,000	78,900,000	695,000,000
Aggregate debt amount | kr		700,000,000						kr 700,000,000
NOK600 million senior unsecured bonds due 2025
Debt Instrument [Line Items]
Long-term debt, gross	60,048,000		61,334,000
Total debt principal	60,000,000	590,000,000	61,300,000	kr 540,000,000
Aggregate debt amount | kr		kr 600,000,000					kr 600,000,000
7.25% senior unsecured sustainability-linked bonds due 2026
Debt Instrument [Line Items]
Long-term debt, gross	150,000,000		150,000,000
Total debt principal	$ 150,000,000		150,000,000
Interest rate (in percentage)	7.25%	7.25%			7.25%
Aggregate debt amount					$ 150,000,000
Lease debt financing
Debt Instrument [Line Items]
Long-term debt, gross	$ 394,555,000		126,955,000
U.S. dollar denominated floating rate debt due through 2029
Debt Instrument [Line Items]
Long-term debt, gross	1,329,156,000		1,253,481,000
Common stock - Frontline Ltd
Debt Instrument [Line Items]
Long-term debt, gross	$ 0		$ 15,639,000
Aggregate debt amount						$ 36,800,000

SHORT-TERM AND LONG-TERM DEBT_3

SHORT-TERM AND LONG-TERM DEBT (Schedule of Debt Principal) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 921,270
2024	295,494
2025	437,200
2026	235,242
2027	185,158
Thereafter	139,272
Total debt principal	$ 2,213,636	$ 1,903,755

SHORT-TERM AND LONG-TERM DEBT_4

SHORT-TERM AND LONG-TERM DEBT (Interest Rate Information) (Details)	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Weighted average interest rate (in percentage)	5.30%	2.68%
Secured Overnight Financing Rate ("SOFR"), closing rate (as a percent)	0.0430	0.0005
Effective Federal Funds Rate ("EEFR"), closing rate	0.0433	0.0007
US Dollar London Interbank Offered Rate ("LIBOR"), 3-Month, closing rate
Debt Instrument [Line Items]
Three month U.S. Dollar LIBOR rate (in percentage)	4.77%	0.21%
Norwegian Interbank Offered Rate ("NIBOR")
Debt Instrument [Line Items]
Three month Norwegian kroner NIBOR rate (in percentage)	3.26%	0.95%

SHORT-TERM AND LONG-TERM DEBT_5

SHORT-TERM AND LONG-TERM DEBT (Narrative) (Details)			1 Months Ended																										3 Months Ended	12 Months Ended
	Sep. 13, 2018 NOK (kr)	Apr. 23, 2018 USD ($) $ / shares	Dec. 31, 2022 USD ($) carrier tanker vessel $ / shares shares	Dec. 31, 2022 NOK (kr)	Sep. 30, 2022 USD ($) subsidiary vessel shares	Aug. 31, 2022 USD ($)	Apr. 30, 2022 USD ($)	Mar. 31, 2022 USD ($) vessel subsidiary	Feb. 28, 2022 USD ($) tanker subsidiary	Sep. 30, 2021 USD ($) vessel subsidiary	Jun. 30, 2021	Apr. 30, 2021 USD ($)	Feb. 28, 2021 USD ($)	Nov. 30, 2020 USD ($)	May 31, 2020 USD ($)	Mar. 31, 2020 USD ($) tanker vessel subsidiary	Jun. 30, 2019 USD ($) subsidiary	Mar. 31, 2019 USD ($) carrier subsidiary	Feb. 28, 2019 USD ($) carrier subsidiary tanker	Dec. 31, 2018 USD ($) subsidiary tanker	Apr. 30, 2018 USD ($) shares	Aug. 31, 2017 USD ($) subsidiary tanker	Jul. 31, 2015 USD ($) carrier subsidiary	Dec. 31, 2014 carrier subsidiary	Sep. 30, 2014 USD ($) subsidiary vessel	Jun. 30, 2014 USD ($) subsidiary vessel	Oct. 31, 2013 USD ($)	May 31, 2013 USD ($)	Dec. 31, 2022 USD ($) carrier tanker vessel $ / shares shares	Dec. 31, 2022 USD ($) carrier tanker vessel $ / shares shares	Dec. 31, 2021 USD ($) tanker subsidiary shares	Dec. 31, 2020 USD ($) tanker subsidiary shares	Dec. 31, 2017	Dec. 31, 2022 NOK (kr) carrier vessel tanker shares	Apr. 15, 2022 carrier	Jan. 01, 2022 USD ($)	Dec. 31, 2021 NOK (kr) tanker shares	Aug. 31, 2021 USD ($)	May 12, 2021 USD ($)	Dec. 31, 2020 NOK (kr) tanker	Jan. 21, 2020 NOK (kr)	Dec. 31, 2019 USD ($)	Jul. 30, 2019 NOK (kr)	Jun. 04, 2019 NOK (kr)	May 04, 2018 USD ($)	Nov. 30, 2016 shares	Dec. 30, 2014 USD ($)
Debt Instrument [Line Items]
Long-term debt			$ 2,213,636,000																										$ 2,213,636,000	$ 2,213,636,000	$ 1,903,755,000
Gain on extinguishment of debt																														$ 0	(727,000)	$ 67,533,000
Share price (usd per share) | $ / shares			$ 9.22																										$ 9.22	$ 9.22
Repurchase of bonds																														$ 0	215,098,000	66,570,000
Total authorized for share lending arrangement (in shares) | shares																					7,000,000
Stockholders' equity attributable to parent			$ (1,091,231,000)																										$ (1,091,231,000)	$ (1,091,231,000)	(982,327,000)	(795,651,000)
Number of car carriers | carrier			3																										3	3				3
Restricted cash			$ 0																										$ 0	$ 0	8,300,000
Carrying value of vessels			3,861,330,000																										3,861,330,000	3,861,330,000	3,459,297,000
Asset Pledged as Collateral
Debt Instrument [Line Items]
Carrying value of vessels			2,579,000,000																										2,579,000,000	2,579,000,000	2,310,000,000
Common Stock - Frontline Ltd
Debt Instrument [Line Items]
Aggregate debt amount			$ 0		$ 15,600,000																								$ 0	0	$ 15,600,000
Gain on extinguishment of debt																														$ 4,600,000
Investment owned (in shares) | shares			1,400,000																										1,400,000	1,400,000	1,400,000			1,400,000			1,400,000
Forward contract to repurchase shares			$ 16,700,000																										$ 16,700,000	$ 16,700,000	$ 16,400,000	$ 16,700,000
Forward contract to repurchase shares (shares) | shares					1,400,000																											1,400,000
Secured borrowings, liability recorded			$ 0																										$ 0	$ 0	15,600,000
Secured borrowings, collateral, percentage of repurchase price			20%																										20%	20%				20%
Cumulative Effect, Period Of Adoption, Adjustment
Debt Instrument [Line Items]
Stockholders' equity attributable to parent																																				$ 1,600,000
Additional paid-in capital
Debt Instrument [Line Items]
Stockholders' equity attributable to parent			$ (616,554,000)																										$ (616,554,000)	$ (616,554,000)	(621,037,000)	$ (531,382,000)										$ (469,426,000)
Additional paid-in capital | Cumulative Effect, Period Of Adoption, Adjustment
Debt Instrument [Line Items]
Stockholders' equity attributable to parent																															5,863,000					5,900,000
Retained earnings / (accumulated deficit)
Debt Instrument [Line Items]
Stockholders' equity attributable to parent			(40,015,000)																										(40,015,000)	(40,015,000)	92,720,000	257,063,000										0
Retained earnings / (accumulated deficit) | Cumulative Effect, Period Of Adoption, Adjustment
Debt Instrument [Line Items]
Stockholders' equity attributable to parent																															(4,285,000)					$ (4,300,000)						$ 32,638,000
$4.875% unsecured convertible bonds due 2023
Debt Instrument [Line Items]
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023																					$ 7,900,000										(100,000)
$4.875% unsecured convertible bonds due 2023 | Additional paid-in capital
Debt Instrument [Line Items]
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023		$ 7,900,000
NOK700 million senior unsecured bonds due 2023
Debt Instrument [Line Items]
Aggregate debt amount | kr																																		kr 700,000,000
Long-term debt			71,200,000																										71,200,000	71,200,000	79,500,000			700,000,000			kr 700,000,000
Debt instrument, percentage of par issued (in percentage)	101.625%
NOK600million senior unsecured floating rate bonds due 2023
Debt Instrument [Line Items]
Aggregate debt amount | kr	kr 600,000,000																																										kr 100,000,000
NOK700 million senior unsecured bonds due 2024
Debt Instrument [Line Items]
Aggregate debt amount | kr																																		700,000,000										kr 700,000,000
Long-term debt			70,700,000																										70,700,000	70,700,000	78,900,000			695,000,000			695,000,000
Gain on purchased bonds																																0
Facility repurchased amount																																500,000								kr 5,000,000
NOK600 million senior unsecured bonds due 2025
Debt Instrument [Line Items]
Aggregate debt amount | kr																																		600,000,000							kr 600,000,000
Long-term debt			60,000,000																										60,000,000	60,000,000	61,300,000			kr 590,000,000			kr 540,000,000
Gain on purchased bonds																																1,400,000
Proceeds from resale of bonds			5,000,000	kr 50,000,000
Facility repurchased amount																																6,000,000								kr 60,000,000
7.25% senior unsecured sustainability-linked bonds due 2026
Debt Instrument [Line Items]
Aggregate debt amount																																							$ 150,000,000
Long-term debt			$ 150,000,000																										$ 150,000,000	$ 150,000,000	150,000,000
Interest rate (as a percent)			7.25%																										7.25%	7.25%				7.25%					7.25%
General share lending agreement
Debt Instrument [Line Items]
Shares loaned to affiliate (in shares) | shares																																														8,000,000
Line of Credit
Debt Instrument [Line Items]
Debt instrument, maturity date extension term																																	4 years
Lease debt financing
Debt Instrument [Line Items]
Number of vessels under sale and leaseback transactions | carrier																																			2
Term of lease or charter							3 years
Lease debt financing | 6,800 TEU Containership
Debt Instrument [Line Items]
Long-term debt			$ 113,200,000																										$ 113,200,000	$ 113,200,000	127,000,000
Number of vessels under sale and leaseback transactions | vessel										2
Sales price of vessels										$ 65,000,000
Sales price of vessels combined										$ 130,000,000
Term of lease or charter										6 years
Lease debt financing | 14,000 TEU Containership
Debt Instrument [Line Items]
Long-term debt			$ 238,300,000																										$ 238,300,000	$ 238,300,000	0
Number of vessels under sale and leaseback transactions | vessel			2																										2	2				2
Sales price of vessels																													$ 120,000,000
Sales price of vessels combined																													$ 240,000,000
Term of lease or charter																													7 years
Lease debt financing | 6500 CEU Car Carrier 1
Debt Instrument [Line Items]
Long-term debt			$ 20,700,000																										$ 20,700,000	$ 20,700,000	0
Sales price of vessels							$ 23,500,000
Lease debt financing | 6500 CEU Car Carrier 2
Debt Instrument [Line Items]
Long-term debt			22,400,000																										22,400,000	22,400,000	0
Sales price of vessels							$ 25,300,000
US Dollar 45 million secured term loan facility
Debt Instrument [Line Items]
Aggregate debt amount																										$ 45,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																										7
Number of container vessels | vessel																										7
Debt instrument, term																										5 years
Term loan facility, extension term											4 years						2 years
Long-term debt			37,500,000																										37,500,000	37,500,000	42,500,000
US Dollar 45 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Available amount under revolving part of credit facility			0																										0	0	0
US dollar 20 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																									$ 20,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																									2
Number of container vessels | vessel																									2
Debt instrument, term																									5 years
Long-term debt			13,800,000																										13,800,000	13,800,000	15,600,000
US dollar 39 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																																															$ 39,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																								2
Debt instrument, term																								8 years
Long-term debt			0																										0	0	19,400,000
Number of drybulk carriers | carrier																								2
US dollar 166 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																							$ 166,400,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																							8
Debt instrument, term																							7 years
Long-term debt			0																										0	0	76,300,000
Number of vessels against which loan was secured | carrier																							8
US Dollar 76 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																						$ 76,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																						2
Debt instrument, term																						7 years
Long-term debt			48,700,000																										48,700,000	48,700,000	53,900,000
Number of vessels against which loan was secured | tanker																						2
$4.875% unsecured convertible bonds due 2023
Debt Instrument [Line Items]
Aggregate debt amount		$ 150,000,000																																											$ 14,000,000
Long-term debt			$ 137,900,000																										$ 137,900,000	$ 137,900,000	137,900,000
Interest rate (as a percent)		4.875%	4.875%																										4.875%	4.875%				4.875%
Conversion price (in dollars per share) | $ / shares		$ 18.93	$ 11.76																										$ 11.76	$ 11.76
Principal amounts			$ 29,800,000																										$ 29,800,000	$ 29,800,000
Repurchase of bonds																															2,000,000	8,400,000
Gain on purchased bonds																															200,000	300,000
Shares loaned to affiliate (in shares) | shares			3,765,842																										3,765,842	3,765,842				3,765,842
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023																														$ 800,000	6,700,000	6,800,000
Amortization of deferred charges																															1,400,000	1,300,000
Total allocated as the reacquisition of the equity component																															100,000	$ 300,000
US dollar 17.5 million secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																				$ 17,500,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																				2
Debt instrument, term																				5 years
Long-term debt			$ 9,400,000																										$ 9,400,000	9,400,000	11,100,000
Number of vessels against which loan was secured | tanker																				2
US Dollar 24.9 million senior secured term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																			3
Long-term debt			15,100,000																										15,100,000	15,100,000	17,700,000
Number of vessels against which loan was secured | carrier																			3
Term of loan in years																			5 years
US Dollar 24.9 million senior secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																			$ 24,900,000
US Dollar 50 million senior secured term loan facility
Debt Instrument [Line Items]
Aggregate debt amount																			$ 50,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																			3
Long-term debt			0																										0	0	35,200,000
Term of loan in years																			3 years
Number of tankers chartered | tanker																			3													2								2
Facility repurchased amount																																$ 14,900,000
Number of tankers sold | tanker																																1								1
US Dollar 29.5 million term loan facility
Debt Instrument [Line Items]
Aggregate debt amount																		$ 29,500,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																		2
Long-term debt			0																										0	0	19,000,000
Term of loan in years																		5 years
Number of car carriers | carrier																		2
US Dollar 33.1 million term loan facility
Debt Instrument [Line Items]
Aggregate debt amount																	$ 33,100,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																	5															5
Long-term debt			21,900,000																										21,900,000	21,900,000	25,300,000
Term of loan in years																	4 years
US Dollar 40.0 million senior secured term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																2
Long-term debt			31,900,000																										31,900,000	31,900,000	32,900,000
Term of loan in years																2 years
Number of tankers against which loan was secured | tanker																2
US Dollar 40.0 million senior secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount			40,000,000													$ 40,000,000													40,000,000	40,000,000
US Dollar 175.0 million term loan facility
Debt Instrument [Line Items]
Aggregate debt amount			175,000,000													$ 175,000,000													175,000,000	175,000,000
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																4
Number of container vessels | vessel																4
Long-term debt			127,700,000																										127,700,000	127,700,000	146,600,000
Term of loan in years																5 years
US Dollar 50.0 million senior secured term loan facility
Debt Instrument [Line Items]
Aggregate debt amount			50,000,000												$ 50,000,000														50,000,000	50,000,000
Long-term debt			43,100,000																										43,100,000	43,100,000	45,800,000
Term of loan in years															5 years
US Dollar 50.0 million senior secured credit facility
Debt Instrument [Line Items]
Aggregate debt amount			50,000,000											$ 50,000,000															50,000,000	50,000,000
Long-term debt			40,000,000																										40,000,000	40,000,000	45,000,000
Term of loan in years														4 years
US Dollar 51 million senior secured term loan facility
Debt Instrument [Line Items]
Long-term debt			43,300,000																										43,300,000	43,300,000	47,700,000
Term of loan in years													4 years
US Dollar 51 million senior secured term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount			51,000,000										$ 51,000,000																51,000,000	51,000,000
April 2021 US Dollar 51 term loan facility
Debt Instrument [Line Items]
Long-term debt			44,400,000																										44,400,000	44,400,000	48,800,000
Term of loan in years												4 years
April 2021 US Dollar 51 term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount			51,000,000									$ 51,000,000																	51,000,000	51,000,000
US Dollar 134 million term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary										2
Long-term debt			0																										0	0	130,400,000
Number of vessels against which loan was secured | vessel										2
Term of loan in years										3 years
US Dollar 134 million term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount			134,000,000							$ 134,000,000																			134,000,000	134,000,000
US Dollar 35 million term loan facility
Debt Instrument [Line Items]
Long-term debt			32,900,000																										32,900,000	$ 32,900,000	35,000,000
Term of loan in years																														7 years
US Dollar 35 million term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																															$ 35,000,000
US Dollar 107.3 million term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary																															3
Long-term debt			$ 102,000,000																										$ 102,000,000	$ 102,000,000	$ 35,800,000
Term of loan in years																														5 years
Number of tankers against which loan was secured | tanker																															3						3
Line of credit facility, drawn down																														$ 71,500,000	$ 35,800,000
Number of suezmax tankers against which loan was secured, delivered | tanker			2																										2	2	1			2			1
US Dollar 107.3 million term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																															$ 107,300,000
US Dollar 35.1 million term and revolving loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary									2
Long-term debt			$ 0																										$ 0	$ 0	0
Term of loan in years									3 years
Number of tankers sold | vessel			2																										2	2				2
Number of tankers against which loan was secured | tanker									2
US Dollar 35.1 million term and revolving loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount									$ 35,100,000
US Dollar 100.0 Million Term Loan Facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary								4
Long-term debt			$ 92,400,000																										$ 92,400,000	$ 92,400,000	0
Number of vessels against which loan was secured | vessel								4
Term of loan in years								5 years
US Dollar 100.0 Million Term Loan Facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount								$ 100,000,000
US Dollar 30.0 Million Loan Facility
Debt Instrument [Line Items]
Long-term debt			0																										0	0	0
Line of credit facility, drawn down						$ 30,000,000
US Dollar 30.0 Million Loan Facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount																															30,000,000
US Dollar 23.0 million term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary					2
Long-term debt			21,800,000																										21,800,000	21,800,000	0
Number of drybulk carriers | vessel					2
Term of loan in years					1 year
US Dollar 23.0 million term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount					$ 23,000,000
US Dollar 115.0 term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary					8
Long-term debt			110,000,000																										110,000,000	110,000,000	0
Number of drybulk carriers | vessel					8
Term of loan in years					3 years
US Dollar 115.0 term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount					$ 115,000,000
US Dollar 290.0 million term loan facility
Debt Instrument [Line Items]
Number of subsidiaries of company that entered into term loan facility agreement | subsidiary					6
Debt instrument, term					6 months
Long-term debt			156,000,000																										156,000,000	156,000,000	0
US Dollar 290.0 million term loan facility | Floating Rate Debt
Debt Instrument [Line Items]
Aggregate debt amount					$ 290,000,000
US Dollar 475.0 million term loan and revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Aggregate debt amount																											$ 475,000,000
Debt instrument, term																											5 years
Long-term debt			183,800,000																										183,800,000	183,800,000	199,900,000
US Dollar 375 million term loan and revolving credit facility | Financial Guarantee
Debt Instrument [Line Items]
Guarantor obligations, current carrying value			83,100,000																										83,100,000	83,100,000	83,100,000
US Dollar 375 million term loan and revolving credit facility | Financial Guarantee | SFL Hercules Ltd
Debt Instrument [Line Items]
Cash contribution																																						$ 5,000,000
US Dollar 375 million term loan and revolving credit facility | Financial Guarantee | Seadrill
Debt Instrument [Line Items]
Accounts payable																																						$ 3,000,000
US Dollar 375 million term loan and revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Aggregate debt amount																												$ 375,000,000
Debt instrument, term																												6 years
Long-term debt			$ 153,500,000																										$ 153,500,000	$ 153,500,000	$ 169,600,000
Debt instrument, maturity date extension term																																	4 years

FINANCE LEASE LIABILITY (Schedu

FINANCE LEASE LIABILITY (Schedule of Finance Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Finance lease liability, current portion	$ 53,655	$ 51,204
Finance lease liability, long-term portion	419,341	472,996
Finance lease liability, total	$ 472,996	$ 524,200

FINANCE LEASE LIABILITY (Narrat

FINANCE LEASE LIABILITY (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) vessel	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) vessel	Dec. 31, 2018 vessel
Lessee, Lease, Description [Line Items]
Finance lease, vessel bareboat charter period	15 years
Number of container vessels contracted to be chartered in | vessel	4		4
Number of years before option to buy vessel is available	6 years			6 years
Finance lease, interest expense | $	$ 23,500	$ 25,800	$ 59,600
River Box | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Lessee, Lease, Description [Line Items]
Ownership percentage of disposed assets			50.10%
Investments in sales-type and direct financing leases | $			$ 540,908
Finance lease liability | $			$ 464,740
Minimum
Lessee, Lease, Description [Line Items]
Term of lease or charter	6 years			6 years
Maximum
Lessee, Lease, Description [Line Items]
Term of lease or charter	11 years			11 years
14,000 TEU Containership
Lessee, Lease, Description [Line Items]
Container vessels acquired | vessel				4
10,600 TEU Containership
Lessee, Lease, Description [Line Items]
Container vessels acquired | vessel				3

FINANCE LEASE LIABILITY (Sche_2

FINANCE LEASE LIABILITY (Schedule of Future Minimum Lease Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
2023	$ 74,735
2024	433,866
Thereafter	0
Total finance lease liability	508,601
Less: imputed interest payable	(35,605)
Finance lease liability	472,996	$ 524,200
Less: current portion	(53,655)	(51,204)
Finance lease liability, long-term portion	$ 419,341	$ 472,996

SHARE CAPITAL, ADDITIONAL PAI_3

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Summary of Share Capital) (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Sep. 01, 2020	Aug. 31, 2020	Oct. 01, 2018	Sep. 30, 2018	Apr. 30, 2018	Nov. 30, 2016
Stockholders' Equity Note [Abstract]
Common shares, authorized (in shares)	300,000,000	300,000,000	300,000,000	200,000,000	200,000,000	150,000,000
Share capital, par value (in dollars per share)	$ 0.01	$ 0.01		$ 0.01		$ 0.01	$ 0.01	$ 0.01
Common shares, authorized	$ 3,000,000	$ 3,000,000	$ 3,000,000	$ 2,000,000	$ 2,000,000	$ 1,500,000
Share capital, shares issued (in shares)	138,562,173	138,551,387
Common stock, value, issued	$ 1,386,000	$ 1,386,000

SHARE CAPITAL, ADDITIONAL PAI_4

SHARE CAPITAL, ADDITIONAL PAID-IN CAPITAL AND CONTRIBUTED SURPLUS (Additional Information) (Details)		1 Months Ended		12 Months Ended			56 Months Ended	75 Months Ended
	Apr. 23, 2018 USD ($) $ / shares	Apr. 30, 2018 USD ($) $ / shares shares	Oct. 31, 2016 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Apr. 30, 2022 USD ($)	Apr. 15, 2022 shares	Jan. 01, 2022 USD ($)	Oct. 31, 2021 USD ($)	Sep. 01, 2020 USD ($) shares	Aug. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Oct. 01, 2018 USD ($) shares	Sep. 30, 2018 USD ($) $ / shares shares	May 04, 2018 USD ($)	Nov. 30, 2016 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent				$ 1,091,231,000	$ 982,327,000	$ 795,651,000	$ 1,091,231,000	$ 1,091,231,000
New shares issued (in shares) | shares				10,786		6,869	10,786	10,786
Common stock, par value (in dollars per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01		$ 0.01	$ 0.01						$ 0.01			$ 0.01		$ 0.01
Options exercised (in shares) | shares				85,500	129,000	17,500
Payments in lieu of issuing shares					$ 100,000
Average exercise price per share (in dollars per share) | $ / shares				$ 8.87	$ 7.48	$ 8.63
Intrinsic value of exercised options				$ 100,000	$ 100,000	$ 200,000
Proceeds from Issuance of Common Stock				0	89,280,000	61,485,000
Long-term debt				2,213,636,000	1,903,755,000		$ 2,213,636,000	$ 2,213,636,000
Repurchase of bonds				0	215,098,000	66,570,000
Common stock, value authorized				$ 3,000,000	$ 3,000,000		$ 3,000,000	$ 3,000,000					$ 3,000,000	$ 2,000,000		$ 2,000,000	$ 1,500,000
Common shares, authorized (in shares) | shares				300,000,000	300,000,000		300,000,000	300,000,000					300,000,000	200,000,000		200,000,000	150,000,000
Increase in authorized common stock (in shares) | shares														100,000,000			50,000,000
Total authorized for share lending arrangement (in shares) | shares		7,000,000
Cumulative Effect, Period Of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent											$ (1,600,000)
Contributed surplus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent				$ 424,562,000	$ 461,818,000	539,370,000	$ 424,562,000	$ 424,562,000							$ 648,764,000
Dividends declared				37,256,000	77,552,000	109,394,000
Additional paid-in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent				616,554,000	621,037,000	531,382,000	616,554,000	616,554,000							469,426,000
Payments in lieu of issuing shares				0	(97,000)	0
Additional paid-in capital | Cumulative Effect, Period Of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent					(5,863,000)						(5,900,000)
Retained earnings / (accumulated deficit)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent				40,015,000	(92,720,000)	(257,063,000)	$ 40,015,000	$ 40,015,000							0
Dividends declared				$ 74,318,000	0	0
Retained earnings / (accumulated deficit) | Cumulative Effect, Period Of Adoption, Adjustment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholders' equity attributable to parent					4,285,000						$ 4,300,000				$ (32,638,000)
Senior unsecured convertible bonds due 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion price (in dollars per share) | $ / shares				$ 15.1973			$ 15.1973	$ 15.1973
Aggregate debt amount			$ 225,000,000
Senior unsecured convertible bonds due 2021 | Additional paid-in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023				$ 4,600,000
$4.875% unsecured convertible bonds due 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023		$ 7,900,000			$ (100,000)
$4.875% unsecured convertible bonds due 2023 | Additional paid-in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023	$ 7,900,000
General share lending agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares loaned to affiliate (in shares) | shares																			8,000,000
Senior unsecured convertible bonds due 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest rate (as a percent)			5.75%		5.75%
Long-term debt												$ 144,700,000
Conversion price (in dollars per share) | $ / shares			$ 17.7747
Debt instrument, convertible, conversion ratio			0.0562596000					0.0658012000
Repurchase of bonds					$ 67,600,000
Total allocated as the reacquisition of the equity component					400,000
Shares loaned to affiliate (in shares) | shares		3,765,842
$4.875% unsecured convertible bonds due 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest rate (as a percent)	4.875%			4.875%			4.875%	4.875%
Long-term debt				$ 137,900,000	137,900,000		$ 137,900,000	$ 137,900,000
Conversion price (in dollars per share) | $ / shares	$ 18.93			$ 11.76			$ 11.76	$ 11.76
Debt instrument, convertible, conversion ratio	0.0528157000						0.0850332000
Recognition of equity component arising from issuance of 4.875% convertible bonds due 2023				$ 800,000	6,700,000	6,800,000
Repurchase of bonds					2,000,000	8,400,000
Total allocated as the reacquisition of the equity component					$ 100,000	$ 300,000
Aggregate debt amount	$ 150,000,000																	$ 14,000,000
Shares loaned to affiliate (in shares) | shares				3,765,842			3,765,842	3,765,842
Dividend Reinvestment Plan (DRIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend reinvestment plan, maximum number of shares authorized (in shares) | shares										10,000,000
At The Market
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity distribution agreement, maximum value of shares authorized									$ 100,000,000
At The Market and Dividend Reinvestment Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
New shares issued (in shares) | shares				0	10,700,000	8,400,000	0	0
Proceeds from Issuance of Common Stock					$ 89,400,000	$ 61,500,000
Premium on issuance of new shares					$ 89,300,000	$ 61,400,000

SHARE OPTION PLAN (Narrative) (

SHARE OPTION PLAN (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	435,000	435,000	480,000	350,000
Expected life of options (in years)	5 years	3 years 6 months	3 years 6 months	2 years
Vesting period (in years)	3 years
Granted (in dollars per share)	$ 8.73	$ 8.73	$ 8.79	$ 13.45
Weighted average fair value of options granted (in dollars per share)		$ 3.06	$ 2.87	$ 1.76
Risk free interest rate		1.80%	0.33%	1.40%
Expected share price volatility		45.60%	44.60%	21.60%
Expected dividend yield		0%	0%	0%
Options exercised (in shares)		85,500	129,000	17,500
Total intrinsic value of options exercised during the period		$ 0.1	$ 0.1	$ 0.2
New shares issued (in shares)		10,786		6,869
Exercisable at end of year (in shares)		919,667	578,500	418,167
Intrinsic value of exercisable options		$ 0.2	$ 0	$ 0
Weighted average remaining contractual term		1 year 8 months 12 days
Unrecognized compensation costs related to non-vested options granted		$ 1	1	0.7
Nonvested options, intrinsic value		$ 1	$ 0	$ 0
Unrecognized compensation costs, period of recognition (in years)		1 year 2 months 12 days	10 months 24 days	8 months 12 days
Additional paid-in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock options, compensation cost recognized in the period		$ 1.4
APIC, share-based payment arrangement, option, increase for cost recognition		$ 1.4	$ 1	$ 0.9

SHARE OPTION PLAN (Details)

SHARE OPTION PLAN (Details) - $ / shares	1 Months Ended	12 Months Ended
	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Options
Options outstanding at beginning of year (in shares)		1,433,500	1,082,500	835,000
Granted (in shares)	435,000	435,000	480,000	350,000
Options exercised (in shares)		(85,500)	(129,000)	(17,500)
Forfeited (in shares)		0	0	(85,000)
Options outstanding at end of year (in shares)		1,783,000	1,433,500	1,082,500
Exercisable at end of year (in shares)		919,667	578,500	418,167
Weighted average exercise price $
Options outstanding at beginning of year (in dollars per share)		$ 9.65	$ 10.56	$ 10.72
Granted (in dollars per share)	$ 8.73	8.73	8.79	13.45
Exercised (in dollars per share)		8.87	7.48	8.63
Forfeited (in dollars per share)		0	0	11.02
Options outstanding at end of year (in dollars per share)		8.55	9.65	10.56
Exercisable at end of year (in dollars per share)		$ 9	$ 10.02	$ 9.45

RELATED PARTY TRANSACTIONS (Sch

RELATED PARTY TRANSACTIONS (Schedule of Amounts Due From and to Related Parties, Excluding Direct Financing Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total amount due from related parties	$ 4,392	$ 8,557
Allowance for expected credit losses	3,266	6,988
Total loans to related parties - associated companies, long-term	45,000	45,000
Total amount due to related parties	1,936	1,295
Frontline Shipping
Related Party Transaction [Line Items]
Total amount due to related parties	1,788	1,252
Frontline
Related Party Transaction [Line Items]
Total amount due from related parties	3,854	3,633
Total amount due to related parties	2	2
Seadrill
Related Party Transaction [Line Items]
Total amount due from related parties	0	3,643
Golden Ocean
Related Party Transaction [Line Items]
Total amount due from related parties	374	4,453
Total amount due to related parties	141	36
Seatankers
Related Party Transaction [Line Items]
Total amount due from related parties	0	77
Sloane Square Capital
Related Party Transaction [Line Items]
Total amount due from related parties	183	0
Other related parties
Related Party Transaction [Line Items]
Total amount due from related parties	1	1
Total amount due to related parties	5	5
Affiliated Entity
Related Party Transaction [Line Items]
Allowance for expected credit losses	30	3,255
River Box
Related Party Transaction [Line Items]
Total amount due from related parties	10	5
Total loans to related parties - associated companies, long-term	$ 45,000	$ 45,000

RELATED PARTY TRANSACTIONS (Add

RELATED PARTY TRANSACTIONS (Additional Information) (Details) $ in Thousands	1 Months Ended	2 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Oct. 31, 2020 drillingRig	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Feb. 22, 2022
Related Party Transaction [Line Items]
Gain on sale of subsidiaries, operating			$ 0	$ 0	$ 1,894
Number of drilling units | drillingRig		3
Gain (loss) on sale of vessel			$ 13,228	$ 39,405	$ 2,250
River Box
Related Party Transaction [Line Items]
Ownership percentage					49.90%
West Taurus
Related Party Transaction [Line Items]
Gain (loss) on sale of vessel	$ (600)
Seadrill
Related Party Transaction [Line Items]
Percentage of post-emergency bankruptcy allowance						0.01
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box
Related Party Transaction [Line Items]
Ownership percentage of disposed assets					50.10%
Net proceeds received					$ 17,500
Gain on sale of subsidiaries, operating					$ 1,900

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Related Party Leasing and Service Contracts) (Details)	1 Months Ended				12 Months Ended
	Sep. 30, 2022 USD ($) shares	Dec. 31, 2019 carrier shares	Feb. 29, 2016 shares	Jun. 30, 2015 USD ($) vessel shares	Dec. 31, 2022 USD ($) carrier tanker vessel shares	Dec. 31, 2021 USD ($) carrier vessel drillingRig shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) carrier	Jun. 30, 2020 USD ($)
Related Party Transaction [Line Items]
Short-term maturities in credit loss provisions					$ 14,688,000
Time charter rate for VLCCs from July 1, 2015 onwards				$ 20,000
Time charter rate for Suezmax tankers from July 1, 2015 onwards				$ 15,000
Interest income – related parties, long term loans to associated companies					$ 4,563,000	$ 6,921,000	$ 11,925,000
Number of capesize drybulk carriers owned | carrier					8
Profit sharing percent of earnings from Frontline from July 1, 2015 onwards					50%
Due from related parties					$ 4,392,000	$ 8,557,000
Number of container vessels owned | vessel					32
Front Force and Front Energy
Related Party Transaction [Line Items]
Gain on sale of vessels					$ 1,500,000
Frontline Charterers
Related Party Transaction [Line Items]
Number of container vessels owned | vessel					2
Common stock - Frontline Ltd
Related Party Transaction [Line Items]
Number of shares sold (in shares) | shares							2,000,000
Forward contract to repurchase shares (shares) | shares	1,400,000	3,400,000			1,400,000	1,400,000
Aggregate debt amount									$ (36,800,000)
Common stock - NorAm Drilling
Related Party Transaction [Line Items]
Reverse stock split (in shares) | shares			0.20
Common Stock - Frontline Ltd
Related Party Transaction [Line Items]
Forward contract to repurchase shares (shares) | shares	1,400,000						1,400,000
Forward contract to repurchase shares					$ 16,700,000	$ 16,400,000	$ 16,700,000
Aggregate debt amount	$ (15,600,000)				0	(15,600,000)
Interest income – related parties, long term loans to associated companies					4,600,000
Frontline
Related Party Transaction [Line Items]
Number of shares received (in shares) | shares				55,000,000
Frontline Charterers
Related Party Transaction [Line Items]
Direct financing lease following the sale of River Box						69,800,000
Short-term maturities in credit loss provisions						$ 6,500,000
Assets accounted for as direct financing leases and leased to related parties | vessel				17		2
Due to related parties					1,800,000	$ 1,300,000
Frontline Shipping
Related Party Transaction [Line Items]
Compensation received on termination of charters, notes receivable					$ 4,500,000
Golden Ocean
Related Party Transaction [Line Items]
Lessee, operating lease, number of leased carriers | carrier					8
Property subject to or available for operating lease, number of units | carrier						8
Operating lease, right-of-use asset					$ 162,100,000	$ 181,300,000
Number of capesize drybulk carriers financed | carrier		7						7
Number of capesize drybulk carriers owned | carrier		8						8
Finance lease per vessel								$ 2,500,000
Increase in charter hire per day								$ 1,535,000
Number of dry bulk carriers operating on time-charters | carrier					8
Related party transactions profit share of earnings on lease vessels received from related party					33%
Due from related parties					$ 374,000	4,453,000
Seadrill
Related Party Transaction [Line Items]
Operating lease, right-of-use asset						$ 599,300,000
Number of leased drilling rigs under operating lease | drillingRig						2
Due from related parties					0	$ 3,643,000
Frontline reverse stock split | Frontline
Related Party Transaction [Line Items]
Number of shares received (in shares) | shares			11,000,000
Frontline
Related Party Transaction [Line Items]
Due from related parties					3,900,000	$ 3,600,000
Frontline Management
Related Party Transaction [Line Items]
Management/operating fee per day					$ 150
Number of container vessels operating on time charter, subcontracted to related party | vessel					23
Number of drybulk carriers operating on time charter, sub contracted to related party | carrier					7
Number of suezmax tankers operating on time charter, subcontracted to related party | tanker					9
Number of car carriers operating on time charter, subcontracted to related party | carrier					3
Number of product tankers operating on time charter, sub contracted to related party | tanker					6
Number of chemical tankers operating on time charter, sub contracted to related party | tanker					2
Frontline Management | Vessels Leased to Frontline Charterers
Related Party Transaction [Line Items]
Management/operating fee per day					$ 9,000
Golden Ocean Management | Golden Ocean
Related Party Transaction [Line Items]
Management/operating fee per day					$ 7,000

RELATED PARTY TRANSACTIONS (Sum

RELATED PARTY TRANSACTIONS (Summary of Leasing Revenues Earned From Related Parties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Profit share	$ 3,044	$ 10,103	$ 18,677
Direct financing lease interest income	382	5,186	5,196
Direct financing lease service revenue	1,746	6,570	6,903
Golden Ocean
Related Party Transaction [Line Items]
Operating lease income	52,300	50,500	52,000
Profit share	3,000	9,800	0
Frontline Shipping
Related Party Transaction [Line Items]
Profit share	0	300	18,600
Direct financing lease interest income	400	1,500	1,700
Direct financing lease service revenue	1,700	6,600	6,900
Direct financing lease repayments	1,800	6,300	6,500
Seadrill
Related Party Transaction [Line Items]
Operating lease income	17,800	28,900	0
Direct financing lease interest income	0	3,700	3,500
Direct financing lease repayments	$ 0	$ 2,700	$ 2,800

RELATED PARTY TRANSACTIONS (S_2

RELATED PARTY TRANSACTIONS (Schedule of Fees Incurred with Related Parties) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) tanker	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Management fee, percentage	1.25%
Number of Suezmax tankers operating in the spot market for which company pays management fee | tanker	2
Number of product tankers operating on time charter for which company pays management fee | tanker	6
Number of Suezmax tankers for which company pays management fee | tanker	9
Vessel Management Fees	$ 24,141	$ 28,623	$ 30,276
Administration Services Fees	1,541	740	1,178
Frontline
Related Party Transaction [Line Items]
Vessel Management Fees	3,679	7,794	8,893
Newbuilding Supervision Fees	1,030	132	0
Commissions and Brokerage	498	260	364
Administration Services Fees	7	159	82
Golden Ocean
Related Party Transaction [Line Items]
Vessel Management Fees	20,440	20,440	20,496
Administration Services Fees	0	56	70
Operating Management Fees	22	389	887
Seatankers
Related Party Transaction [Line Items]
Administration Services Fees	428	226	520
Credit Note		300
Front Ocean
Related Party Transaction [Line Items]
Administration Services Fees	483	23	0
Seatankers Management Norway AS
Related Party Transaction [Line Items]
Office Facilities	106	112	94
Frontline Management AS
Related Party Transaction [Line Items]
Office Facilities	341	252	186
Frontline Corporate Services Ltd.
Related Party Transaction [Line Items]
Office Facilities	93	187	226
Frontline Shipping Singapore PTE Ltd
Related Party Transaction [Line Items]
Office Facilities	0	19	0
Golden Ocean Shipping Co Pte. Ltd
Related Party Transaction [Line Items]
Office Facilities	80	0	0
Flex LNG Management Ltd
Related Party Transaction [Line Items]
Office Facilities	$ 3	$ 0	$ 0

RELATED PARTY TRANSACTIONS (R_2

RELATED PARTY TRANSACTIONS (Related Party Loans – Associated Companies) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total loans to related parties - associated companies, long-term	$ 45,000	$ 45,000
River Box
Related Party Transaction [Line Items]
Total loans to related parties - associated companies, long-term	$ 45,000	$ 45,000

RELATED PARTY TRANSACTIONS (Int

RELATED PARTY TRANSACTIONS (Interest Income Received on Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Interest income – related parties, long term loans to associated companies	$ 4,563	$ 6,921	$ 11,925
River Box
Related Party Transaction [Line Items]
Interest income – related parties, long term loans to associated companies	4,600	4,600	0
SFL Deepwater Ltd
Related Party Transaction [Line Items]
Interest income – related parties, long term loans to associated companies	0	0	3,800
SFL Hercules Ltd
Related Party Transaction [Line Items]
Interest income – related parties, long term loans to associated companies	0	2,400	3,600
SFL Linus Ltd
Related Party Transaction [Line Items]
Interest income – related parties, long term loans to associated companies	$ 0	$ 0	$ 4,500

RELATED PARTY TRANSACTIONS (R_3

RELATED PARTY TRANSACTIONS (Related Party Purchases and Sales of Vessels) (Details) - Affiliates of Frontline Limited $ in Millions	1 Months Ended	2 Months Ended	12 Months Ended
	Dec. 31, 2021 tanker	Feb. 28, 2022 tanker	Dec. 31, 2021 USD ($) tanker
Related Party Transaction [Line Items]
Number of product tankers			4
Product tankers, purchase price | $			$ 160
Number of product tankers delivered	2	2

RELATED PARTY TRANSACTIONS (Lon

RELATED PARTY TRANSACTIONS (Long-Term Receivables From Related Parties) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($) vessel
Frontline Shipping
Related Party Transaction [Line Items]
Compensation received on termination of charters, notes receivable	$ 4,500
Interest income received		$ 100
Frontline
Related Party Transaction [Line Items]
Interest income received		$ 100
Front Circassia
Related Party Transaction [Line Items]
Number of very large crude carriers sold | vessel		1
Notes compensation received on termination of charters, face value		$ 8,900
Front Circassia, Front Page, Front Stratus, Front Serenade, Front Ariake
Related Party Transaction [Line Items]
Gain (loss) on settlement of loan notes receivable		$ 4,400
Front Page, Front Stratus, Front Serenade And Front Ariake
Related Party Transaction [Line Items]
Number of very large crude carriers sold | vessel		4
Notes compensation received on termination of charters, face value		$ 11,000
Compensation received on termination of charters, notes receivable		11,000
Gain (loss) on settlement of loan notes receivable		$ 0

RELATED PARTY TRANSACTIONS (Oth

RELATED PARTY TRANSACTIONS (Other Related Party Transactions) (Details)	1 Months Ended					12 Months Ended
	Feb. 29, 2020 USD ($)	Dec. 31, 2018 USD ($) shares	Nov. 30, 2018 shares	Aug. 31, 2018 USD ($) shares	Nov. 30, 2016 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) vessel shares	Dec. 31, 2020 USD ($) Rate	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) shares	Mar. 31, 2021 vessel
Related Party Transaction [Line Items]
Proceeds from sale of vessels and termination of charters						$ (83,333,000)	$ (183,886,000)	$ (210,920,000)
Termination fee								3,200,000
Gain on sale of vessels						13,228,000	39,405,000	2,250,000
Fair value						$ 0	9,680,000	$ 9,431,000
Equity Securities
Related Party Transaction [Line Items]
Disposition of investment							800,000
ADS Maritime Holding
Related Party Transaction [Line Items]
Final dividend distribution							$ 8,800,000
Number of vessels sold | vessel							2				2
Gain/(Loss) on investments in debt and equity securities							$ 700,000
ADS Maritime Holding | ADS Maritime Holding
Related Party Transaction [Line Items]
Ownership percentage | Rate								17%
Common Stock, ADS | ADS Maritime Holding
Related Party Transaction [Line Items]
Shares acquired				$ 10,000,000
Fair value								$ 8,900,000
Investment owned (in shares) | shares		4,000,000								4,000,000
Common stock - NorAm Drilling
Related Party Transaction [Line Items]
Shares acquired					$ 700,000
Fair value		$ 3,900,000								$ 3,900,000
Share consolidation ratio			20
Number of shares held after share consolidation | shares			601,023
Shares issued (in shares) | shares			600,000
Investment owned (in shares) | shares		1,300,000				1,300,000	1,300,000			1,300,000
Investment and debt securities, fair value						$ 7,300,000
NorAm Drilling
Related Party Transaction [Line Items]
Disposition of investment									$ 300,000
Marketable securities, shares, redeemed (in shares) | shares										500,000
Gain (loss) on redemption										$ 0
Fair value						$ 0	$ 4,619,000
ADS Maritime Holding | Common Stock, ADS | ADS Maritime Holding
Related Party Transaction [Line Items]
Number of shares received (in shares) | shares				4,000,000
NorAm Drilling | Common stock - NorAm Drilling
Related Party Transaction [Line Items]
Number of shares received (in shares) | shares		41,756			12,000,000
Front Hakata
Related Party Transaction [Line Items]
Proceeds from sale of vessels and termination of charters	$ 33,500,000
Termination fee	$ 3,200,000
Gain on sale of vessels								$ 1,400,000

RELATED PARTY TRANSACTIONS (Div

RELATED PARTY TRANSACTIONS (Dividends and Income Received) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Dividend income – related parties	$ 128	$ 0	$ 6,030
ADS Maritime Holding
Related Party Transaction [Line Items]
Dividend income – related parties	0	0	2,930
Frontline
Related Party Transaction [Line Items]
Dividend income – related parties	0	0	3,100
NorAm Drilling
Related Party Transaction [Line Items]
Dividend income – related parties	128	0	0
Interest income received	$ 463	$ 443	$ 420

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Financial instruments at fair value, current portion	$ 1,936	$ 0
Total derivative instruments - long-term assets	26,716	3,184
Total derivative instruments - short-term liabilities	16,861	738
Total derivative instruments - long-term liabilities	14,357	17,209
Designated as hedging instrument | Interest rate swaps
Derivative [Line Items]
Financial instruments at fair value, current portion	1,229	0
Total derivative instruments - long-term assets	12,963	2,077
Total derivative instruments - short-term liabilities	0	68
Total derivative instruments - long-term liabilities	0	2,316
Designated as hedging instrument | Cross currency interest rate swaps
Derivative [Line Items]
Total derivative instruments - short-term liabilities	2,260	0
Total derivative instruments - long-term liabilities	4,054	2,685
Designated as hedging instrument | Cross currency swaps
Derivative [Line Items]
Total derivative instruments - long-term assets	0	1,019
Total derivative instruments - short-term liabilities	14,601	0
Total derivative instruments - long-term liabilities	10,233	10,038
Not designated as hedging instrument
Derivative [Line Items]
Financial instruments at fair value, current portion	700	0
Not designated as hedging instrument | Interest rate swaps
Derivative [Line Items]
Financial instruments at fair value, current portion	707	0
Total derivative instruments - long-term assets	13,753	88
Total derivative instruments - short-term liabilities	0	670
Total derivative instruments - long-term liabilities	0	2,159
Not designated as hedging instrument | Cross currency swaps
Derivative [Line Items]
Total derivative instruments - long-term liabilities	$ 70	$ 11

FINANCIAL INSTRUMENTS (Interest

FINANCIAL INSTRUMENTS (Interest Rate Risk Management) (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2022 NOK (kr)	Dec. 31, 2021 USD ($)	Jan. 21, 2020 NOK (kr)	Jun. 04, 2019 NOK (kr)
Derivative [Line Items]
Notional principal amount	$ 600,000		$ 700,000
NOK700 million senior unsecured bonds due 2023
Derivative [Line Items]
Aggregate debt amount | kr		kr 700,000,000
NOK700 million senior unsecured bonds due 2024
Derivative [Line Items]
Aggregate debt amount | kr		700,000,000			kr 700,000,000
NOK600 million senior unsecured bonds due 2025
Derivative [Line Items]
Aggregate debt amount | kr		kr 600,000,000		kr 600,000,000
$100,000 (remaining at $100,000)
Derivative [Line Items]
Notional principal amount	100,000
Notional principal, at maturity	$ 100,000
$100,000 (remaining at $100,000) | Minimum
Derivative [Line Items]
Fixed interest rate	1.85%	1.85%
$100,000 (remaining at $100,000) | Maximum
Derivative [Line Items]
Fixed interest rate	1.97%	1.97%
$56,000 (remaining at $56,000)
Derivative [Line Items]
Notional principal amount	$ 56,000
Notional principal, at maturity	$ 56,000
Fixed interest rate	1.84%	1.84%
$14,699 (equivalent to NOK128 million)
Derivative [Line Items]
Notional principal amount	$ 14,699	kr 128,000,000
$14,699 (equivalent to NOK128 million) | Minimum
Derivative [Line Items]
Fixed interest rate	6.70%	6.70%
$14,699 (equivalent to NOK128 million) | Maximum
Derivative [Line Items]
Fixed interest rate	6.77%	6.77%
$11,254 (equivalent to NOK100 million)
Derivative [Line Items]
Notional principal amount	$ 11,254	kr 100,000,000
Fixed interest rate	6.378%	6.378%
$30,000 (remaining at $30,000)
Derivative [Line Items]
Notional principal amount	$ 30,000
Notional principal, at maturity	$ 30,000
Fixed interest rate	2.15%	2.15%
$48,332 (equivalent to NOK420 million)
Derivative [Line Items]
Notional principal amount	$ 48,332	kr 420,000,000
$48,332 (equivalent to NOK420 million) | Minimum
Derivative [Line Items]
Fixed interest rate	6.85%	6.85%
$48,332 (equivalent to NOK420 million) | Maximum
Derivative [Line Items]
Fixed interest rate	6.90%	6.90%
$100,000 (remaining at $100,000)
Derivative [Line Items]
Notional principal amount	$ 100,000
Notional principal, at maturity	$ 100,000
$100,000 (remaining at $100,000) | Minimum
Derivative [Line Items]
Fixed interest rate	1.45%	1.45%
$100,000 (remaining at $100,000) | Maximum
Derivative [Line Items]
Fixed interest rate	1.60%	1.60%
$67,500 (remaining at $67,500)
Derivative [Line Items]
Notional principal amount	$ 67,500
Notional principal, at maturity	$ 67,500
Fixed interest rate	1.40%	1.40%
$127,668 (reducing to $92,233)
Derivative [Line Items]
Notional principal amount	$ 127,668
Notional principal, at maturity	$ 92,233
$127,668 (reducing to $92,233) | Minimum
Derivative [Line Items]
Fixed interest rate	0.46%	0.46%
$127,668 (reducing to $92,233) | Maximum
Derivative [Line Items]
Fixed interest rate	0.47%	0.47%

FINANCIAL INSTRUMENTS (Foreign

FINANCIAL INSTRUMENTS (Foreign Currency Risk Management) (Details) $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 NOK (kr)	Dec. 31, 2021 USD ($)	Jan. 21, 2020 NOK (kr)	Jun. 04, 2019 NOK (kr)
Derivative [Line Items]
Debt amount | $	$ 600		$ 700
NOK700 million senior unsecured bonds due 2023
Derivative [Line Items]
Aggregate debt amount		kr 700,000,000
NOK700 million senior unsecured bonds due 2024
Derivative [Line Items]
Aggregate debt amount		700,000,000			kr 700,000,000
NOK600 million senior unsecured bonds due 2025
Derivative [Line Items]
Aggregate debt amount		600,000,000		kr 600,000,000
Designated as hedging instrument | Cross currency interest rate contract due September 2023
Derivative [Line Items]
Debt amount	76.8	600,000,000
Designated as hedging instrument | Cross currency interest rate contract due September 2023
Derivative [Line Items]
Debt amount	11.3	100,000,000
Designated as hedging instrument | Cross currency interest rate contract due June 2024
Derivative [Line Items]
Debt amount	80.5	700,000,000
Designated as hedging instrument | Cross currency interest rate contract due January 2025
Derivative [Line Items]
Debt amount	$ 67.5	kr 600,000,000

FINANCIAL INSTRUMENTS (Fair Val

FINANCIAL INSTRUMENTS (Fair Value and Carrying Value) (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 NOK (kr)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 NOK (kr)	Oct. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jan. 21, 2020 NOK (kr)	Jun. 04, 2019 NOK (kr)	May 04, 2018 USD ($)	Apr. 23, 2018 USD ($)	Oct. 31, 2016
Non-derivatives:
Available-for-sale debt securities	$ 0		$ 9,680,000			$ 9,431,000
Equity securities	7,283,000		11,530,000			$ 19,374,000
Equity Securities pledged to creditors	0		10,238,000
Long-term debt	2,213,636,000		1,903,755,000
Derivatives:
Financial instruments at fair value, current portion	1,936,000		0
Interest rate/ currency swap contracts – long-term receivables	26,716,000		3,184,000
Long term receivables, non-designated swap contracts	13,800,000		100,000
Long term payables, non-designated swap contracts	100,000		2,200,000
Not designated as hedging instrument
Derivatives:
Financial instruments at fair value, current portion	700,000		0
Interest rate/ currency swap contracts – short-term payables	0		$ 700,000
Senior unsecured convertible bonds due 2021
Non-derivatives:
Long-term debt					$ 144,700,000
Interest rate (in percentage)			5.75%	5.75%							5.75%
$4.875% unsecured convertible bonds due 2023
Non-derivatives:
Long-term debt	$ 137,900,000		$ 137,900,000
Interest rate (in percentage)	4.875%	4.875%								4.875%
Derivatives:
Aggregate debt amount									$ 14,000,000	$ 150,000,000
7.25% senior unsecured sustainability-linked bonds due 2026
Non-derivatives:
Interest rate (in percentage)	7.25%	7.25%
NOK700 million senior unsecured bonds due 2023
Non-derivatives:
Long-term debt	$ 71,200,000	kr 700,000,000	79,500,000	kr 700,000,000
Derivatives:
Aggregate debt amount | kr		700,000,000
NOK700 million senior unsecured bonds due 2024
Non-derivatives:
Long-term debt	70,700,000	695,000,000	78,900,000	695,000,000
Derivatives:
Aggregate debt amount | kr		700,000,000						kr 700,000,000
NOK600 million senior unsecured bonds due 2025
Non-derivatives:
Long-term debt	60,000,000	590,000,000	61,300,000	kr 540,000,000
Derivatives:
Aggregate debt amount | kr		kr 600,000,000					kr 600,000,000
Fair Value, Recurring | Carrying value
Non-derivatives:
Available-for-sale debt securities	0		9,680,000
Equity securities	7,283,000		1,292,000
Equity Securities pledged to creditors	0		10,238,000
Derivatives:
Financial instruments at fair value, current portion	1,936,000		0
Interest rate/ currency swap contracts – long-term receivables	26,716,000		3,184,000
Interest rate/ currency swap contracts – short-term payables	16,861,000		738,000
Interest rate/ currency swap contracts – long-term payables	14,357,000		17,209,000
Fair Value, Recurring | Fair value
Non-derivatives:
Available-for-sale debt securities	0		9,680,000
Equity securities	7,283,000		1,292,000
Equity Securities pledged to creditors	0		10,238,000
Derivatives:
Financial instruments at fair value, current portion	1,936,000		0
Interest rate/ currency swap contracts – long-term receivables	26,716,000		3,184,000
Interest rate/ currency swap contracts – short-term payables	16,861,000		738,000
Interest rate/ currency swap contracts – long-term payables	14,357,000		17,209,000
Fair Value, Recurring | $4.875% unsecured convertible bonds due 2023 | Carrying value
Non-derivatives:
Long-term debt	137,900,000		137,900,000
Fair Value, Recurring | $4.875% unsecured convertible bonds due 2023 | Fair value
Non-derivatives:
Long-term debt	137,211,000		138,727,000
Fair Value, Recurring | 7.25% senior unsecured sustainability-linked bonds due 2026 | Carrying value
Non-derivatives:
Long-term debt	150,000		150,000,000
Fair Value, Recurring | 7.25% senior unsecured sustainability-linked bonds due 2026 | Fair value
Non-derivatives:
Long-term debt	144,188,000		153,563,000
Fair Value, Recurring | NOK700 million senior unsecured bonds due 2023 | Carrying value
Non-derivatives:
Long-term debt	71,243,000		79,507,000
Fair Value, Recurring | NOK700 million senior unsecured bonds due 2023 | Fair value
Non-derivatives:
Long-term debt	71,421,000		79,586,000
Fair Value, Recurring | NOK700 million senior unsecured bonds due 2024 | Carrying value
Non-derivatives:
Long-term debt	70,734,000		78,939,000
Fair Value, Recurring | NOK700 million senior unsecured bonds due 2024 | Fair value
Non-derivatives:
Long-term debt	70,734,000		79,077,000
Fair Value, Recurring | NOK600 million senior unsecured bonds due 2025 | Carrying value
Non-derivatives:
Long-term debt	60,048,000		61,334,000
Fair Value, Recurring | NOK600 million senior unsecured bonds due 2025 | Fair value
Non-derivatives:
Long-term debt	$ 60,348,000		$ 60,133,000

FINANCIAL INSTRUMENTS (Fair V_2

FINANCIAL INSTRUMENTS (Fair Value Hierarchy) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	May 12, 2021	Dec. 31, 2020	Apr. 23, 2018
Assets:
Available-for-sale debt securities	$ 0	$ 9,680		$ 9,431
Equity securities	7,283	11,530		$ 19,374
Equity Securities pledged to creditors	0	10,238
Financial instruments at fair value, current portion	1,936	0
Interest rate/ currency swap contracts – long-term receivables	$ 26,716	3,184
7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
Interest rate (in percentage)	7.25%		7.25%
Senior Unsecured Convertible Bonds due 2023
Liabilities:
Interest rate (in percentage)	4.875%				4.875%
7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
Interest rate (in percentage)	7.25%
Fair Value, Recurring | Fair Value, Inputs, Level 2
Assets:
Available-for-sale debt securities		5,100
Fair Value, Recurring | Fair value
Assets:
Available-for-sale debt securities	$ 0	9,680
Equity securities	7,283	1,292
Equity Securities pledged to creditors	0	10,238
Financial instruments at fair value, current portion	1,936	0
Interest rate/ currency swap contracts – long-term receivables	26,716	3,184
Total assets	35,935	24,394
Liabilities:
NOK700 million senior unsecured floating rate bonds due 2023	71,421	79,586
NOK700 million senior unsecured floating rate bonds due 2024	70,734	79,077
NOK600 million senior unsecured floating rate bonds due 2025	60,348	60,133
Interest rate/ currency swap contracts – short-term payables	16,861	738
Interest rate/ currency swap contracts – long-term payables	14,357	17,209
Total liabilities	515,120	529,033
Fair Value, Recurring | Fair value | Senior Unsecured Convertible Bonds due 2023
Liabilities:
Unsecured convertible bonds	137,211	138,727
Fair Value, Recurring | Fair value | 7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
7.25% unsecured sustainability linked bonds due 2026	144,188	153,563
Fair Value, Recurring | Fair value | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Available-for-sale debt securities		4,619
Equity securities	7,283	1,292
Equity Securities pledged to creditors		10,238
Total assets	7,283	16,149
Liabilities:
NOK700 million senior unsecured floating rate bonds due 2023	71,421	79,586
NOK700 million senior unsecured floating rate bonds due 2024	70,734	79,077
NOK600 million senior unsecured floating rate bonds due 2025	60,348	60,133
Total liabilities	483,902	511,086
Fair Value, Recurring | Fair value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Unsecured Convertible Bonds due 2023
Liabilities:
Unsecured convertible bonds	137,211	138,727
Fair Value, Recurring | Fair value | Quoted Prices in Active Markets for Identical Assets (Level 1) | 7.25% senior unsecured sustainability-linked bonds due 2026
Liabilities:
7.25% unsecured sustainability linked bonds due 2026	144,188	153,563
Fair Value, Recurring | Fair value | Fair Value, Inputs, Level 2
Assets:
Available-for-sale debt securities		5,061
Financial instruments at fair value, current portion	1,936
Interest rate/ currency swap contracts – long-term receivables	26,716	3,184
Total assets	28,652	8,245
Liabilities:
Interest rate/ currency swap contracts – short-term payables	16,861	738
Interest rate/ currency swap contracts – long-term payables	14,357	17,209
Total liabilities	31,218	17,947
Fair Value, Recurring | Fair value | Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale debt securities
Total assets	0	0
Liabilities:
Total liabilities	$ 0	$ 0

FINANCIAL INSTRUMENTS (Narrativ

FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	May 12, 2021	Apr. 23, 2018	Oct. 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value	$ 9,431	$ 0	$ 9,680
Collateral deposits on swap agreements		8,770	10,368
Total loans to related parties - associated companies, long-term		$ 45,000	$ 45,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | River Box
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Ownership percentage of disposed assets	50.10%
7.25% senior unsecured sustainability-linked bonds due 2026
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate (as a percent)		7.25%		7.25%
Senior unsecured convertible bonds due 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate (as a percent)			5.75%			5.75%
$4.875% unsecured convertible bonds due 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate (as a percent)		4.875%			4.875%
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value			$ 5,100
Common stock - Frontline Ltd
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain/(Loss) on investments in debt and equity securities	$ 2,300
River Box
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Ownership percentage	49.90%
Total loans to related parties - associated companies, long-term		$ 45,000	$ 45,000

FINANCIAL INSTRUMENTS (Concentr

FINANCIAL INSTRUMENTS (Concentration Risks) (Details) - Customer Concentration Risk - vessel	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Maersk | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	16	15
Concentration risk, percentage	31%	32%
Evergreen Marine | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	6	6
Concentration risk, percentage	15%	15%
Trafigura | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	7	3
Concentration risk, percentage	9%	0%
Golden Ocean | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	8	8
Concentration risk, percentage	8%	12%
MSC | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	9	10
Concentration risk, percentage	1%	2%
Conocophillips | Revenue Benchmark
Concentration Risk [Line Items]
Number of vessels and rigs chartered	1	0
Concentration risk, percentage	3%	0%
River Box | Net Income
Concentration Risk [Line Items]
Concentration risk, percentage	4%	5%

ALLOWANCE FOR EXPECTED CREDIT_3

ALLOWANCE FOR EXPECTED CREDIT LOSSES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,988
Derecognition of Seadrill credit loss balances	(3,200)
Change in allowance recorded in 'other financial items'	(522)
Ending balance	3,266
Trade receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	96
Change in allowance recorded in 'other financial items'	164
Ending balance	260
Other receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	486
Change in allowance recorded in 'other financial items'	418
Ending balance	904
Related Party receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	3,255
Derecognition of Seadrill credit loss balances	(3,200)
Change in allowance recorded in 'other financial items'	(25)
Ending balance	30
Investment in sales-type, direct financing leases and leaseback assets
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,263
Change in allowance recorded in 'other financial items'	(1,071)
Ending balance	192
Other long-term assets
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,888
Change in allowance recorded in 'other financial items'	(8)
Ending balance	$ 1,880

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES (Book Value of Assets Pledged) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Vessels, rigs and equipment, net	$ 2,646,389	$ 2,230,583
Total investment in sales-type lease, direct financing lease and leaseback assets	119,023	204,766
Book value of consolidated assets pledged under ship mortgages	3,861,330	3,459,297
Asset Pledged as Collateral
Other Commitments [Line Items]
Vessels, rigs and equipment, net	2,460,000	2,107,000
Total investment in sales-type lease, direct financing lease and leaseback assets	119,000	203,000
Book value of consolidated assets pledged under ship mortgages	$ 2,579,000	$ 2,310,000

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES (Book Value of Assets with Finance Lease Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Total book value	$ 615	$ 656
Vessels under finance lease, net
Other Commitments [Line Items]
Total book value	$ 615	$ 656

COMMITMENTS AND CONTINGENT LI_5

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) shares in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($) shares	Dec. 31, 2022 vessel	Dec. 31, 2022 shares	Dec. 31, 2022 carrier	Dec. 31, 2021 USD ($) vessel shares
Loss Contingencies [Line Items]
Finance lease liability		$ 472,996,000					$ 524,200,000
Restricted cash		0	$ 8,953,000				$ 8,338,000
Number of vessels during procurement of scrubbers | vessel				6
Long-term purchase commitment, amount		$ 0
Volkswagen Group
Loss Contingencies [Line Items]
Number of dual-fuel car carriers | vessel				2
Term of lease or charter		10 years
K Line
Loss Contingencies [Line Items]
Number of dual-fuel car carriers | vessel				2
Term of lease or charter		10 years
Common Stock - Frontline Ltd
Loss Contingencies [Line Items]
Investment owned (in shares) | shares					1.4		1.4
Forward contract to repurchase shares (shares) | shares	1.4		1.4
Aggregate debt amount	$ (15,600,000)	$ 0					$ (15,600,000)
Long-term debt, gross							15,600,000
Gain/(Loss) on investments in debt and equity securities		4,600,000
Debt for acquired equipment
Loss Contingencies [Line Items]
Long-term line of credit		2,200,000,000
Debt for acquired equipment | Company and Subsidiaries
Loss Contingencies [Line Items]
Long-term line of credit							$ 1,900,000,000
Frontline forward contract
Loss Contingencies [Line Items]
Investment owned (in shares) | shares							1.4
Investment owned							$ 16,700,000
Installation of scrubbers
Loss Contingencies [Line Items]
Other commitment		35,300,000					0
Installation of BWTS
Loss Contingencies [Line Items]
Other commitment		1,600,000					$ 2,700,000
Number of vessels committed to vessel upgrades | vessel				2			5
Newbuilding dual-fuel car carriers using liquefied natural gas
Loss Contingencies [Line Items]
Other commitment		$ 209,700,000					$ 254,200,000
Number of dual-fuel car carriers				4		4

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITIES (Details) $ in Thousands	Dec. 31, 2022 USD ($) variable_interest_entity	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Long-term debt	$ 2,213,636	$ 1,903,755
Current portion of debt	921,270	302,769
Vessels under finance lease, net	614,763	656,072
Finance lease liability	472,996	524,200
Finance lease liability, current portion	$ 53,655	$ 51,204
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of variable interest entities | variable_interest_entity	35
VIEs with sales-type leases, direct financing leases, and leaseback assets | variable_interest_entity	8
Net investment in lease	$ 103,000
Unearned Lease Income	18,700
Residual value of leased asset	84,300
Long-term debt	80,600
Current portion of debt	$ 7,800
VIEs, number with operating lease assets | variable_interest_entity	24
Operating lease, right-of-use asset	$ 958,000
Operating lease liability	606,500
Operating lease liability, current	$ 208,700
VIEs, number with finance lease assets | variable_interest_entity	3
Vessels under finance lease, net	$ 251,700
Finance lease liability	190,800
Finance lease liability, current portion	$ 22,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions			1 Months Ended		12 Months Ended
	Mar. 09, 2023	Feb. 15, 2023	Feb. 28, 2023	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2023
Subsequent Event [Line Items]
Granted (in shares)				435,000	435,000	480,000	350,000
Vesting period (in years)				3 years
Granted, initial strike price (in dollars per share)				$ 8.73	$ 8.73	$ 8.79	$ 13.45
Subsequent Event
Subsequent Event [Line Items]
Net sales proceeds from sale of vessels	$ 43.5
Dividend declared (in dollars per share)		$ 0.24
Granted (in shares)			440,000
Term of awards (in years)			five-year
Vesting period (in years)			3 years
Granted, initial strike price (in dollars per share)			$ 10.34
Subsequent Event | Unsecured Bond With Maturity in 2027
Subsequent Event [Line Items]
Aggregate debt amount								$ 150

Uncategorized Items - sfl-20221

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]