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v3.23.3

Leases | 9 Months Ended
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Sep. 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 nine-month period ended September 30, 2023 are primarily related to the vessel charters for the Glomar Wave and the Horizon Enabler (Note 14). Our operating lease additions during the nine-month period ended September 30, 2022 are primarily related to the charter extensions for the Siem Helix 1, the Siem Helix 2, the Grand Canyon II, the Grand Canyon III and the Shelia Bordelon. 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 | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease cost | ​ | $ | 18,836 | ​ | $ | 16,088 | ​ | $ | 53,189 |  | $ | 44,348
Variable lease cost | ​ |  | 6,058 | ​ |  | 4,488 | ​ |  | 16,223 |  | ​ | 14,035
Short-term lease cost | ​ |  | 18,751 | ​ |  | 9,112 | ​ |  | 43,644 |  | ​ | 22,121
Sublease income | ​ |  | (374) | ​ |  | (300) | ​ |  | (911) |  | ​ | (930)
Net lease cost | ​ | $ | 43,271 | ​ | $ | 29,388 | ​ | $ | 112,145 |  | $ | 79,574
​ Maturities of our operating lease liabilities as of September 30, 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 66,794 | ​ | $ | 6,737 |  | $ | 73,531
One to two years | ​ |  | 59,599 | ​ |  | 4,184 |  | ​ | 63,783
Two to three years | ​ |  | 37,944 | ​ |  | 1,078 |  | ​ | 39,022
Three to four years | ​ |  | 30,569 | ​ |  | 968 |  | ​ | 31,537
Four to five years | ​ |  | 7,590 | ​ |  | 968 |  | ​ | 8,558
Over five years | ​ |  | — | ​ |  | 2,086 |  | ​ | 2,086
Total lease payments | ​ | $ | 202,496 | ​ | $ | 16,021 |  | $ | 218,517
Less: imputed interest | ​ |  | (25,896) | ​ |  | (1,975) |  | ​ | (27,871)
Total operating lease liabilities | ​ | $ | 176,600 | ​ | $ | 14,046 |  | $ | 190,646
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 55,049 | ​ | $ | 6,142 |  | $ | 61,191
Non-current operating lease liabilities | ​ |  | 121,551 | ​ |  | 7,904 |  | ​ | 129,455
Total operating lease liabilities | ​ | $ | 176,600 | ​ | $ | 14,046 |  | $ | 190,646
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2023 | ​ | 2022
Weighted average remaining lease term |  | 3.3 | years | ​ | 4.0 | years
Weighted average discount rate |  | 8.17 | % | ​ | 7.84 | %
​ The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended
​ | ​ | September 30,
​ |  | 2023 |  | 2022
Cash paid for operating lease liabilities | ​ | $ | 51,733 |  | $ | 43,342
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ |  | 25,463 |  | ​ | 143,357
​

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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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