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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Maturity of Operating Lease Liabilities | During the second quarter of 2024, the Company exercised an option to extend an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $254.1 million (discounted) to our right-of-use assets and operating lease liabilities at June 30, 2024. Maturity of Lease Liabilities
(Thousands of dollars) | Operating Leases |  | Finance Leases |  | Total
2024 | $ | 81,903 |  |  | $ | 265 |  |  | $ | 82,168 |
2025 | 279,908 |  |  | 1,069 |  |  | 280,977 |
2026 | 125,462 |  |  | 1,069 |  |  | 126,531 |
2027 | 69,098 |  |  | 1,069 |  |  | 70,167 |
2028 | 62,569 |  |  | 1,069 |  |  | 63,638 |
Remaining | 490,391 |  |  | 267 |  |  | 490,658 |
Total future minimum lease payments | 1,109,331 |  |  | 4,808 |  |  | 1,114,139 |
Less imputed interest | (235,937) |  |  | (1,277) |  |  | (237,214) |
Present value of lease liabilities 1 | $ | 873,394 |  |  | $ | 3,531 |  |  | $ | 876,925 |
1 Includes both the current and long-term portion of the lease liabilities.
Schedule of Maturity of Finance Lease Liabilities | During the second quarter of 2024, the Company exercised an option to extend an operating lease pertaining to a drill ship used in our offshore business. This resulted in an increase of $254.1 million (discounted) to our right-of-use assets and operating lease liabilities at June 30, 2024. Maturity of Lease Liabilities
(Thousands of dollars) | Operating Leases |  | Finance Leases |  | Total
2024 | $ | 81,903 |  |  | $ | 265 |  |  | $ | 82,168 |
2025 | 279,908 |  |  | 1,069 |  |  | 280,977 |
2026 | 125,462 |  |  | 1,069 |  |  | 126,531 |
2027 | 69,098 |  |  | 1,069 |  |  | 70,167 |
2028 | 62,569 |  |  | 1,069 |  |  | 63,638 |
Remaining | 490,391 |  |  | 267 |  |  | 490,658 |
Total future minimum lease payments | 1,109,331 |  |  | 4,808 |  |  | 1,114,139 |
Less imputed interest | (235,937) |  |  | (1,277) |  |  | (237,214) |
Present value of lease liabilities 1 | $ | 873,394 |  |  | $ | 3,531 |  |  | $ | 876,925 |
1 Includes both the current and long-term portion of the lease liabilities.
Summary of Other Lease Information | Lease Term and Discount Rate
| September 30, 2024 |  | December 31, 2023
Weighted average remaining lease term: |  |  |
Operating leases | 8 years |  | 10 years
Finance leases | 5 years |  | 5 years
Weighted average discount rate: |  |  |
Operating leases | 5.7 | % |  | 5.9 | %
Finance leases | 4.7 | % |  | 4.7 | %

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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