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v3.22.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Schedule of components of lease cost | The following table details the components of our lease cost (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
Operating lease cost | ​ | $ | 14,462 |  | $ | 16,216
Variable lease cost | ​ |  | 4,922 |  | ​ | 3,484
Short-term lease cost | ​ |  | 5,438 |  | ​ | 1,732
Sublease income | ​ |  | (249) |  | ​ | (349)
Net lease cost | ​ | $ | 24,573 |  | $ | 21,083
Schedule of maturities of operating lease liabilities | Maturities of our operating lease liabilities as of March 31, 2022 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 42,951 | ​ | $ | 5,441 |  | $ | 48,392
One to two years | ​ |  | 37,056 | ​ |  | 4,752 |  | ​ | 41,808
Two to three years | ​ |  | 38,279 | ​ |  | 4,297 |  | ​ | 42,576
Three to four years | ​ |  | 17,155 | ​ |  | 1,712 |  | ​ | 18,867
Four to five years | ​ |  | 21,124 | ​ |  | 1,044 |  | ​ | 22,168
Over five years | ​ |  | — | ​ |  | 3,812 |  | ​ | 3,812
Total lease payments | ​ | $ | 156,565 | ​ | $ | 21,058 |  | $ | 177,623
Less: imputed interest | ​ |  | (20,297) | ​ |  | (3,355) |  | ​ | (23,652)
Total operating lease liabilities | ​ | $ | 136,268 | ​ | $ | 17,703 |  | $ | 153,971
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 36,843 | ​ | $ | 4,621 |  | $ | 41,464
Non-current operating lease liabilities | ​ |  | 99,425 | ​ |  | 13,082 |  | ​ | 112,507
Total operating lease liabilities | ​ | $ | 136,268 | ​ | $ | 17,703 |  | $ | 153,971
​ Maturities of our operating lease liabilities as of December 31, 2021 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 55,573 | ​ | $ | 5,601 |  | $ | 61,174
One to two years | ​ |  | 34,580 | ​ |  | 4,844 |  | ​ | 39,424
Two to three years | ​ |  | 2,470 | ​ |  | 4,514 |  | ​ | 6,984
Three to four years | ​ |  | — | ​ |  | 2,462 |  | ​ | 2,462
Four to five years | ​ |  | — | ​ |  | 1,074 |  | ​ | 1,074
Over five years | ​ |  | — | ​ |  | 4,193 |  | ​ | 4,193
Total lease payments | ​ | $ | 92,623 | ​ | $ | 22,688 |  | $ | 115,311
Less: imputed interest | ​ |  | (5,633) | ​ |  | (3,741) |  | ​ | (9,374)
Total operating lease liabilities | ​ | $ | 86,990 | ​ | $ | 18,947 |  | $ | 105,937
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 51,035 | ​ | $ | 4,704 |  | $ | 55,739
Non-current operating lease liabilities | ​ |  | 35,955 | ​ |  | 14,243 |  | ​ | 50,198
Total operating lease liabilities | ​ | $ | 86,990 | ​ | $ | 18,947 |  | $ | 105,937
Schedule of weighted average remaining lease term and discount rate | The following table presents the weighted average remaining lease term and discount rate: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ |  | 2022 | ​ | 2021
Weighted average remaining lease term |  | 4.0 | years | ​ | 2.4 | years
Weighted average discount rate |  | 6.99 | % | ​ | 7.57 | %
Schedule of other information related to operating leases | The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
Cash paid for operating lease liabilities | ​ | $ | 16,010 |  | $ | 16,502
Right-of-use assets obtained in exchange for new operating lease obligations (1) | ​ |  | 60,699 |  | ​ | 113
(1) | Amount in 2022 primarily relates to the charter extensions for the Siem Helix 1 and the Siem Helix 2 (Note 12).

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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