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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases |
Schedule of components of lease cost | The following table details the components of our lease cost (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
Operating lease cost | ​ | $ | 87,569 |  | $ | 72,775 |  | $ | 61,067
Variable lease cost | ​ |  | 11,113 |  | ​ | 21,423 |  | ​ | 20,562
Short-term lease cost | ​ |  | 55,879 |  | ​ | 54,613 |  | ​ | 29,487
Sublease income | ​ |  | (99) |  | ​ | (1,113) |  | ​ | (1,275)
Net lease cost | ​ | $ | 154,462 |  | $ | 147,698 |  | $ | 109,841
Schedule of maturities of operating lease liabilities | Maturities of our operating lease liabilities as of December 31, 2024 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Facilities and |  | ​ | ​
​ |  | Vessels |  | Equipment |  | Total
Less than one year | ​ | $ | 78,442 | ​ | $ | 5,324 |  | $ | 83,766
One to two years | ​ |  | 66,020 | ​ |  | 3,442 |  | ​ | 69,462
Two to three years | ​ |  | 61,771 | ​ |  | 3,871 |  | ​ | 65,642
Three to four years | ​ |  | 55,933 | ​ |  | 3,368 |  | ​ | 59,301
Four to five years | ​ |  | 52,748 | ​ |  | 3,185 |  | ​ | 55,933
Over five years | ​ |  | 86,257 | ​ |  | 15,736 |  | ​ | 101,993
Total lease payments | ​ | $ | 401,171 | ​ | $ | 34,926 |  | $ | 436,097
Less: imputed interest | ​ |  | (80,564) | ​ |  | (9,567) |  | ​ | (90,131)
Total operating lease liabilities | ​ | $ | 320,607 | ​ | $ | 25,359 |  | $ | 345,966
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current operating lease liabilities | ​ | $ | 55,643 | ​ | $ | 4,339 |  | $ | 59,982
Non-current operating lease liabilities | ​ |  | 264,964 | ​ |  | 21,020 |  | ​ | 285,984
Total operating lease liabilities | ​ | $ | 320,607 | ​ | $ | 25,359 |  | $ | 345,966
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2024 | ​ | 2023 | ​ | 2022
Weighted average remaining lease term |  | 5.9 | years | ​ | 3.1 | years | ​ | 4.0 | years
Weighted average discount rate |  | 7.89 | % | ​ | 8.20 | % | ​ | 7.84 | %
Schedule of other information related to operating leases | The following table presents other information related to our operating leases (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
Cash paid for operating lease liabilities | ​ | $ | 80,642 |  | $ | 68,788 |  | $ | 58,129
Right-of-use assets related to new operating lease obligations (1) | ​ |  | 220,945 |  | ​ | 26,502 |  | ​ | 144,134
(1) | Our operating lease additions are primarily related to the charter extensions for the Siem Helix 1, Siem Helix 2, Grand Canyon II and Shelia Bordelon vessels during the year ended December 31, 2024 (Note 16), the vessel charters for the Glomar Wave and North Sea Enabler vessels during the year ended December 31, 2023, and the charter extensions for the Siem Helix 1, Siem Helix 2, Grand Canyon II, Grand Canyon III and Shelia Bordelon vessels during the year ended December 31, 2022.

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