Details Of Certain Accounts (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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



	September 30, 2017		December 31, 2016

Note receivable ⁽¹⁾	$	—	$	10,000
Prepaid insurance	2,432		4,426
Other prepaids	10,021		9,547
Deferred costs ⁽²⁾	20,704		7,971
Spare parts inventory	1,598		2,548
Income tax receivable	—		880
Value added tax receivable	2,169		1,345
Other	1,248		671
Total other current assets	$	38,172	$	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 remaining $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):



	September 30, 2017		December 31, 2016

Note receivable, net ⁽¹⁾	$	3,129	$	2,827
Prepaids	8,112		6,418
Deferred dry dock costs, net	14,260		14,766
Deferred costs ⁽²⁾	57,934		30,738
Deferred financing costs, net ⁽³⁾	2,814		3,745
Charter fee deposit ⁽⁴⁾	12,544		12,544
Other	2,181		1,511
Total other assets, net	$	100,974	$	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. We received the redeemable convertible bonds in September 2017 when all aspects of the agreement were finalized. The amount at September 30, 2017 reflected the fair value of the notes as of that date. The amount at December 31, 2016 was net of allowance of $4.2 million.


(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)	This amount deposited with the vessel owner is to 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):



	September 30, 2017		December 31, 2016

Accrued payroll and related benefits	$	29,682	$	20,705
Deferred revenue	8,664		8,911
Accrued interest	2,997		3,758
Derivative liability (Note 14)	9,927		18,730
Taxes payable excluding income tax payable	1,209		1,214
Other	8,282		5,296
Total accrued liabilities	$	60,761	$	58,614

Schedule of other non-current liabilities

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



	September 30, 2017		December 31, 2016

Investee losses in excess of investment (Note 5)	$	8,845	$	10,238
Deferred gain on sale of property ⁽¹⁾	5,910		5,761
Deferred revenue	8,827		8,598
Derivative liability (Note 14)	9,663		20,191
Other	9,491		8,197
Total other non-current liabilities	$	42,736	$	52,985


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