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v3.22.2

Leases | 6 Months Ended
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Jun. 30, 2022
Leases [Abstract] |
Leases | Note 4 — Leases We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. We also sublease some of our facilities under non-cancelable sublease agreements. The following table details the components of our lease cost (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease cost | ​ | $ | 13,798 | ​ | $ | 14,839 | ​ | $ | 28,260 |  | $ | 31,055
Variable lease cost | ​ |  | 4,625 | ​ |  | 3,635 | ​ |  | 9,547 |  | ​ | 7,119
Short-term lease cost | ​ |  | 7,571 | ​ |  | 5,243 | ​ |  | 13,009 |  | ​ | 6,975
Sublease income | ​ |  | (381) | ​ |  | (329) | ​ |  | (630) |  | ​ | (678)
Net lease cost | ​ | $ | 25,613 | ​ | $ | 23,388 | ​ | $ | 50,186 |  | $ | 44,471
​ Maturities of our operating lease liabilities as of June 30, 2022 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 42,744 | ​ | $ | 5,135 |  | $ | 47,879
One to two years | ​ |  | 34,404 | ​ |  | 4,672 |  | ​ | 39,076
Two to three years | ​ |  | 34,002 | ​ |  | 4,058 |  | ​ | 38,060
Three to four years | ​ |  | 17,155 | ​ |  | 916 |  | ​ | 18,071
Four to five years | ​ |  | 16,847 | ​ |  | 966 |  | ​ | 17,813
Over five years | ​ |  | — | ​ |  | 3,289 |  | ​ | 3,289
Total lease payments | ​ | $ | 145,152 | ​ | $ | 19,036 |  | $ | 164,188
Less: imputed interest | ​ |  | (18,030) | ​ |  | (2,913) |  | ​ | (20,943)
Total operating lease liabilities | ​ | $ | 127,122 | ​ | $ | 16,123 |  | $ | 143,245
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 35,306 | ​ | $ | 4,391 |  | $ | 39,697
Non-current operating lease liabilities | ​ |  | 91,816 | ​ |  | 11,732 |  | ​ | 103,548
Total operating lease liabilities | ​ | $ | 127,122 | ​ | $ | 16,123 |  | $ | 143,245
​ 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
​ The following table presents the weighted average remaining lease term and discount rate: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2022 | ​ | 2021
Weighted average remaining lease term |  | 3.8 | years | ​ | 2.4 | years
Weighted average discount rate |  | 6.97 | % | ​ | 7.57 | %
​ The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 30,
​ |  | 2022 |  | 2021
Cash paid for operating lease liabilities | ​ | $ | 28,860 |  | $ | 31,562
Right-of-use assets obtained in exchange for new operating lease obligations (1) | ​ |  | 60,772 |  | ​ | 1,500
(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 The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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