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Employee Benefits Plans and Share-Based Compensation | 3 Months Ended
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Mar. 31, 2024
Compensation And Employee Benefit Plans [Abstract] |
Employee Benefits Plans and Share-Based Compensation | Note 9 — Employee Benefits Plans and Share-Based Compensation Severance The following table summarizes severance accrual activity in connection the EnVen Acquisition, QuarterNorth Acquisition and TLCS Divestiture included in “Other current liabilities” and “Other long-term liabilities” on the Condensed Consolidated Balance Sheets as of March 31, 2024 (in thousands):
Severance accrual at December 31, 2023 | $ | 6,295 |
Accrual additions |  | 17,914 |
Benefit payments |  | (10,258 | )
Severance accrual at March 31, 2024 |  | 13,951 |
Less: Current portion at March 31, 2024 |  | 13,876 |
Long-term portion at March 31, 2024 | $ | 75 |
The above table includes involuntary termination benefits that are being provided pursuant to a one-time benefit arrangement that is being spread over the future service period through the termination date. The Company expects to incur an additional $7.4 million in severance expense related to the QuarterNorth Acquisition. Involuntary termination benefits are also being provided pursuant to contractual termination benefits required by the terms of existing employment agreements. Severance costs are reflected in “General and administrative expense” on the Condensed Consolidated Statements of Operations. Long Term Incentive Plans Restricted Stock Units (“RSUs”) — The following table summarizes RSU activity under the Talos Energy Inc. 2021 Long Term Incentive Plan (the “2021 LTIP”) for the three months ended March 31, 2024:
| Restricted Stock Units |  | Weighted Average Grant Date Fair Value |
Unvested RSUs at December 31, 2023 |  | 2,306,361 |  | $ | 14.89 |
Granted |  | 1,435,516 |  | $ | 13.27 |
Vested |  | (1,357,605 | ) | $ | 13.56 |
Forfeited |  | (41,691 | ) | $ | 15.14 |
Unvested RSUs at March 31, 2024(1) |  | 2,342,581 |  | $ | 14.66 |
(1) As of March 31, 2024, 32,213 of the unvested RSUs were accounted for as liability awards in “Accrued liabilities” on the Condensed Consolidated Balance Sheets. Performance Share Units (“PSUs”) — The following table summarizes PSU activity under the 2021 LTIP for the three months ended March 31, 2024:
| Performance Share Units |  | Weighted Average Grant Date Fair Value |
Unvested PSUs at December 31, 2023 |  | 1,016,649 |  | $ | 21.30 |
Forfeited |  | (48,995 | ) | $ | 20.16 |
Unvested PSUs at March 31, 2024 |  | 967,654 |  | $ | 21.36 |
Share-based Compensation Costs Share-based compensation costs associated with RSUs, PSUs and other awards are reflected as “General and administrative expense,” on the Condensed Consolidated Statements of Operations, net amounts capitalized to “Proved Properties,” on the Condensed Consolidated Balance Sheets. Because of the non-cash nature of share-based compensation, the expensed portion of share-based compensation is added back to net income in arriving at “Net cash provided by (used in) operating activities” on the Condensed Consolidated Statements of Cash Flows. The following table presents the amount of costs expensed and capitalized (in thousands):
| Three Months Ended March 31, |
| 2024 |  | 2023 |
Share-based compensation costs | $ | 4,615 |  | $ | 7,191 |
Less: Amounts capitalized to oil and gas properties |  | 1,861 |  |  | 3,253 |
Total share-based compensation expense | $ | 2,754 |  | $ | 3,938 |

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- Definition Compensation And Employee Benefit Plans [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//710/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//712/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//715/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent + Details
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