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v3.23.2

Leases | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Leases | Note 5 — Leases We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. Our operating lease additions during the six-month period ended June 30, 2023 are primarily related to the vessel charter for the Glomar Wave (Note 14). Our operating lease additions during the six-month period ended June 30, 2022 are primarily related to the charter extensions for the Siem Helix 1 and the Siem Helix 2. 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,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease cost | ​ | $ | 17,347 | ​ | $ | 13,798 | ​ | $ | 34,353 |  | $ | 28,260
Variable lease cost | ​ |  | 5,255 | ​ |  | 4,625 | ​ |  | 10,165 |  | ​ | 9,547
Short-term lease cost | ​ |  | 17,916 | ​ |  | 7,571 | ​ |  | 24,893 |  | ​ | 13,009
Sublease income | ​ |  | (206) | ​ |  | (381) | ​ |  | (537) |  | ​ | (630)
Net lease cost | ​ | $ | 40,312 | ​ | $ | 25,613 | ​ | $ | 68,874 |  | $ | 50,186
​ Maturities of our operating lease liabilities as of June 30, 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 61,103 | ​ | $ | 6,722 |  | $ | 67,825
One to two years | ​ |  | 54,287 | ​ |  | 5,135 |  | ​ | 59,422
Two to three years | ​ |  | 35,941 | ​ |  | 1,107 |  | ​ | 37,048
Three to four years | ​ |  | 34,893 | ​ |  | 1,008 |  | ​ | 35,901
Four to five years | ​ |  | 12,138 | ​ |  | 1,008 |  | ​ | 13,146
Over five years | ​ |  | — | ​ |  | 2,422 |  | ​ | 2,422
Total lease payments | ​ | $ | 198,362 | ​ | $ | 17,402 |  | $ | 215,764
Less: imputed interest | ​ |  | (26,707) | ​ |  | (2,215) |  | ​ | (28,922)
Total operating lease liabilities | ​ | $ | 171,655 | ​ | $ | 15,187 |  | $ | 186,842
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 49,597 | ​ | $ | 6,070 |  | $ | 55,667
Non-current operating lease liabilities | ​ |  | 122,058 | ​ |  | 9,117 |  | ​ | 131,175
Total operating lease liabilities | ​ | $ | 171,655 | ​ | $ | 15,187 |  | $ | 186,842
​ Maturities of our operating lease liabilities as of December 31, 2022 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 58,063 | ​ | $ | 6,603 |  | $ | 64,666
One to two years | ​ |  | 55,515 | ​ |  | 5,697 |  | ​ | 61,212
Two to three years | ​ |  | 43,400 | ​ |  | 2,797 |  | ​ | 46,197
Three to four years | ​ |  | 35,200 | ​ |  | 959 |  | ​ | 36,159
Four to five years | ​ |  | 26,244 | ​ |  | 959 |  | ​ | 27,203
Over five years | ​ |  | 3,041 | ​ |  | 2,783 |  | ​ | 5,824
Total lease payments | ​ | $ | 221,463 | ​ | $ | 19,798 |  | $ | 241,261
Less: imputed interest | ​ |  | (32,986) | ​ |  | (2,675) |  | ​ | (35,661)
Total operating lease liabilities | ​ | $ | 188,477 | ​ | $ | 17,123 |  | $ | 205,600
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 45,131 | ​ | $ | 5,783 |  | $ | 50,914
Non-current operating lease liabilities | ​ |  | 143,346 | ​ |  | 11,340 |  | ​ | 154,686
Total operating lease liabilities | ​ | $ | 188,477 | ​ | $ | 17,123 |  | $ | 205,600
​ The following table presents the weighted average remaining lease term and discount rate: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ |  | 2023 | ​ | 2022
Weighted average remaining lease term |  | 3.6 | years | ​ | 4.0 | years
Weighted average discount rate |  | 7.91 | % | ​ | 7.84 | %
​ The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 30,
​ |  | 2023 |  | 2022
Cash paid for operating lease liabilities | ​ | $ | 32,964 |  | $ | 28,860
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ |  | 6,234 |  | ​ | 60,772
​

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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