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Details Of Certain Accounts
6 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Details Of Certain Accounts
Details of Certain Accounts
 
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.
 
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.
 
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


 
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.