
Year Ended December 31, 2023
(in thousands of $)	Terminals and Infrastructure		Ships		Total Segment		Consolidation and Other(4)		Consolidated
Statement of operations:
Total revenues	$	2,141,085	$	293,605	$	2,434,690	$	(21,394)	$	2,413,296
Cost of sales (1) (3)	764,828		—		764,828		112,623		877,451
Vessel operating expenses	—		51,387		51,387		(5,948)		45,439
Operations and maintenance	166,785		—		166,785		—		166,785
Segment Operating Margin	$	1,209,472	$	242,218	$	1,451,690	$	(128,069)	$	1,323,621
Balance sheet:
Total assets	$	9,680,917	$	820,328	$	10,501,245	$	—	$	10,501,245
Other segmental financial information:
Capital expenditures(2)	$	3,461,659	$	7,568	$	3,469,227	$	—	$	3,469,227


Year Ended December 31, 2022
(in thousands of $)	Terminals and Infrastructure		Ships		Total Segment		Consolidation and Other(4)		Consolidated
Statement of operations:
Total revenues	$	2,168,565	$	444,616	$	2,613,181	$	(244,909)	$	2,368,272
Cost of sales (1) (3)	1,142,374		—		1,142,374		(131,946)		1,010,428
Vessel operating expenses	—		90,544		90,544		(27,026)		63,518
Operations and maintenance	129,970		—		129,970		(24,170)		105,800
Segment Operating Margin	$	896,221	$	354,072	$	1,250,293	$	(61,767)	$	1,188,526
Balance sheet:
Total assets	$	5,913,775	$	1,791,307	$	7,705,082	$	—	$	7,705,082
Other segmental financial information:
Capital expenditures(2)	$	1,482,871	$	27,127	$	1,509,998	$	—	$	1,509,998


Year Ended December 31, 2021
(in thousands of $)	Terminals and Infrastructure		Ships		Total Segment		Consolidation and Other(4)		Consolidated
Statement of operations:
Total revenues	$	1,366,142	$	329,608	$	1,695,750	$	(372,940)	$	1,322,810
Cost of sales (1) (3)	789,069		—		789,069		(173,059)		616,010
Vessel operating expenses	3,442		64,385		67,827		(16,150)		51,677
Operations and maintenance	92,424		—		92,424		(19,108)		73,316
Segment Operating Margin	$	481,207	$	265,223	$	746,430	$	(164,623)	$	581,807
Other segmental financial information:
Capital expenditures(2)	$	833,910	$	8,293	$	842,203	$	—	$	842,203

(1)Cost of sales in the Company’s segment measure only includes realized gains and losses on derivative transactions that are an economic hedge of commodity purchases and sales, and realized gains of $139,089 for the year ended

December 31, 2023 were recognized as a reduction to Cost of sales in the segment measure. No realized gains or loss for the years ended December 31, 2022 or 2021 were recognized.

The Company recognized unrealized (losses) and earnings of ($106,393), $106,103 and ($2,788) on the mark-to-market value of derivative transactions for the years ended December 31, 2023, 2022 and 2021, respectively, and these losses reconcile Cost of sales in the segment measure to Cost of sales in the Consolidated Statements of Operations and Comprehensive Income.

The Company has excluded contract acquisition costs that do not meet the criteria for capitalization from the segment measure. Contract acquisition costs of $6,232 for the year ended December 31, 2023 reconcile Cost of sales in the segment measure to Cost of sales in the Consolidated Statements of Operations and Comprehensive Income. The Company did not incur such costs in the years ended December 31, 2022 and 2021.

(2)Capital expenditures includes amounts capitalized to construction in progress and additions to property, plant and equipment during the period.

(3)Cost of sales is presented exclusive of costs included in Depreciation and amortization in the Consolidated Statements of Operations and Comprehensive Income.

(4)Consolidation and Other adjusts for the inclusion of the effective share of revenues, expenses and operating margin attributable to the Company's 50% ownership of CELSEPAR and the common units of Hilli LLC in the segment measure prior to the disposition of these investments, the exclusion of the unrealized mark-to-market gain or loss on derivative instruments, and the exclusion of non-capitalizable contract acquisition costs.