Details Of Certain Accounts (Tables)

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Other current assets consist of the following (in thousands):



	June 30, 2017		December 31, 2016

Note receivable ⁽¹⁾	$	—	$	10,000
Prepaid insurance	3,603		4,426
Other prepaids	9,934		9,547
Deferred costs ⁽²⁾	17,992		7,971
Spare parts inventory	2,539		2,548
Income tax receivable	2,559		880
Value added tax receivable	2,741		1,345
Other	838		671
Total other current assets	$	40,206	$	37,388


(1)	Relates to the balance of the promissory note we received in connection with the sale of our former Ingleside spoolbase in January 2014. Interest on the note was payable quarterly at a rate of 6% per annum. In June 2017, we collected the $10 million principal balance of this note receivable as well as accrued interest.


(2)	Primarily reflects deferred mobilization costs associated with certain long-term contracts, which are to be amortized within 12 months from the balance sheet date.

Schedule of other assets, net

Other assets, net consist of the following (in thousands):



	June 30, 2017		December 31, 2016

Note receivable, net ⁽¹⁾	$	3,129	$	2,827
Prepaids	8,559		6,418
Deferred dry dock costs, net	16,100		14,766
Deferred costs ⁽²⁾	50,146		30,738
Deferred financing costs, net ⁽³⁾	3,052		3,745
Charter fee deposit ⁽⁴⁾	12,544		12,544
Other	2,121		1,511
Total other assets, net	$	95,651	$	72,549

(1)

In 2016, we entered into an agreement with one of our customers to defer their payment obligations until June 30, 2018. On March 30, 2017, we entered into a new agreement with this customer in which we agreed to forgive all but $4.3 million of our outstanding receivables due from the customer in exchange for redeemable convertible bonds that approximated that amount. The bonds are redeemable by the customer at any time and the maturity date of the bonds is December 14, 2019. Interest at a rate of 5% per annum is payable on the bonds annually. Amounts presented were net of allowance of $1.2 million at June 30, 2017 and $4.2 million at December 31, 2016.


(2)	Primarily reflects deferred mobilization costs to be amortized after 12 months from the balance sheet date through the end of the applicable term of certain long-term contracts.


(3)	Represents unamortized debt issuance costs related to our revolving credit facility (Note 6).


(4)	Deposit amount will be used to reduce our final charter payments for the Siem Helix 2.

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):



	June 30, 2017		December 31, 2016

Accrued payroll and related benefits	$	27,224	$	20,705
Deferred revenue	7,547		8,911
Accrued interest	3,139		3,758
Derivative liability (Note 14)	13,259		18,730
Taxes payable excluding income tax payable	919		1,214
Other	8,031		5,296
Total accrued liabilities	$	60,119	$	58,614

Schedule of other non-current liabilities

Other non-current liabilities consist of the following (in thousands):



	June 30, 2017		December 31, 2016

Investee losses in excess of investment (Note 5)	$	9,817	$	10,238
Deferred gain on sale of property ⁽¹⁾	5,862		5,761
Deferred revenue	8,910		8,598
Derivative liability (Note 14)	13,809		20,191
Other	8,528		8,197
Total other non-current liabilities	$	46,926	$	52,985


(1)	Relates to the sale and lease-back of our office and warehouse property located in Aberdeen, Scotland in January 2016. The deferred gain is amortized over a 15-year minimum lease term.