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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of components of lease cost | The following table details the components of our lease cost (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost | ​ | $ | 22,643 | ​ | $ | 18,836 | ​ | $ | 65,475 |  | $ | 53,189
Variable lease cost | ​ |  | 2,236 | ​ |  | 6,058 | ​ |  | 8,353 |  | ​ | 16,223
Short-term lease cost | ​ |  | 18,665 | ​ |  | 18,751 | ​ |  | 41,324 |  | ​ | 43,644
Sublease income | ​ |  | (26) | ​ |  | (374) | ​ |  | (70) |  | ​ | (911)
Net lease cost | ​ | $ | 43,518 | ​ | $ | 43,271 | ​ | $ | 115,082 |  | $ | 112,145
Schedule of maturities of operating lease liabilities | Maturities of our operating lease liabilities as of September 30, 2024 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 78,073 | ​ | $ | 6,567 |  | $ | 84,640
One to two years | ​ |  | 69,963 | ​ |  | 3,436 |  | ​ | 73,399
Two to three years | ​ |  | 61,771 | ​ |  | 2,653 |  | ​ | 64,424
Three to four years | ​ |  | 58,208 | ​ |  | 2,597 |  | ​ | 60,805
Four to five years | ​ |  | 52,748 | ​ |  | 2,381 |  | ​ | 55,129
Over five years | ​ |  | 99,552 | ​ |  | 7,577 |  | ​ | 107,129
Total lease payments | ​ | $ | 420,315 | ​ | $ | 25,211 |  | $ | 445,526
Less: imputed interest | ​ |  | (87,109) | ​ |  | (5,158) |  | ​ | (92,267)
Total operating lease liabilities | ​ | $ | 333,206 | ​ | $ | 20,053 |  | $ | 353,259
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 54,098 | ​ | $ | 5,768 |  | $ | 59,866
Non-current operating lease liabilities | ​ |  | 279,108 | ​ |  | 14,285 |  | ​ | 293,393
Total operating lease liabilities | ​ | $ | 333,206 | ​ | $ | 20,053 |  | $ | 353,259
​ Maturities of our operating lease liabilities as of December 31, 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 67,488 | ​ | $ | 6,639 |  | $ | 74,127
One to two years | ​ |  | 55,453 | ​ |  | 3,508 |  | ​ | 58,961
Two to three years | ​ |  | 35,200 | ​ |  | 1,289 |  | ​ | 36,489
Three to four years | ​ |  | 26,245 | ​ |  | 1,272 |  | ​ | 27,517
Four to five years | ​ |  | 3,040 | ​ |  | 1,244 |  | ​ | 4,284
Over five years | ​ |  | — | ​ |  | 1,926 |  | ​ | 1,926
Total lease payments | ​ | $ | 187,426 | ​ | $ | 15,878 |  | $ | 203,304
Less: imputed interest | ​ |  | (22,419) | ​ |  | (2,038) |  | ​ | (24,457)
Total operating lease liabilities | ​ | $ | 165,007 | ​ | $ | 13,840 |  | $ | 178,847
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 56,602 | ​ | $ | 6,060 |  | $ | 62,662
Non-current operating lease liabilities | ​ |  | 108,405 | ​ |  | 7,780 |  | ​ | 116,185
Total operating lease liabilities | ​ | $ | 165,007 | ​ | $ | 13,840 |  | $ | 178,847
Schedule of weighted average remaining lease term and discount rate | The following table presents the weighted average remaining lease term and discount rate: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2024 | ​ | 2023
Weighted average remaining lease term |  | 6.0 | years | ​ | 3.1 | years
Weighted average discount rate |  | 7.89 | % | ​ | 8.20 | %
Schedule of other information related to operating leases | The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended
​ | ​ | September 30,
​ |  | 2024 |  | 2023
Cash paid for operating lease liabilities | ​ | $ | 60,042 |  | $ | 51,733
Right-of-use assets obtained in exchange for new operating lease liabilities (1) | ​ |  | 213,480 |  | ​ | 25,463
(1) | Our operating lease additions during the nine-month period ended September 30, 2024 are primarily related to the charter extensions for the Siem Helix 1, the Siem Helix 2, the Grand Canyon II and the Shelia Bordelon (Note 13). Our operating lease additions during the nine-month period ended September 30, 2023 are primarily related to the vessel charter for the Glomar Wave.

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