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Leases (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of components of lease cost

The following table details the components of our lease cost (in thousands):

Three Months Ended

March 31, 

    

2022

    

2021

Operating lease cost

$

14,462

 

$

16,216

Variable lease cost

 

4,922

 

3,484

Short-term lease cost

 

5,438

 

1,732

Sublease income

 

(249)

 

(349)

Net lease cost

$

24,573

 

$

21,083

Schedule of maturities of operating lease liabilities

Maturities of our operating lease liabilities as of March 31, 2022 are as follows (in thousands):

    

    

Facilities and

    

    

Vessels

    

Equipment

    

Total

Less than one year

$

42,951

$

5,441

 

$

48,392

One to two years

 

37,056

 

4,752

 

41,808

Two to three years

 

38,279

 

4,297

 

42,576

Three to four years

 

17,155

 

1,712

 

18,867

Four to five years

 

21,124

 

1,044

 

22,168

Over five years

 

 

3,812

 

3,812

Total lease payments

$

156,565

$

21,058

 

$

177,623

Less: imputed interest

 

(20,297)

 

(3,355)

 

(23,652)

Total operating lease liabilities

$

136,268

$

17,703

 

$

153,971

Current operating lease liabilities

$

36,843

$

4,621

 

$

41,464

Non-current operating lease liabilities

 

99,425

 

13,082

 

112,507

Total operating lease liabilities

$

136,268

$

17,703

 

$

153,971

Maturities of our operating lease liabilities as of December 31, 2021 are as follows (in thousands):

    

    

Facilities and

    

    

Vessels

    

Equipment

    

Total

Less than one year

$

55,573

$

5,601

 

$

61,174

One to two years

 

34,580

 

4,844

 

39,424

Two to three years

 

2,470

 

4,514

 

6,984

Three to four years

 

 

2,462

 

2,462

Four to five years

 

 

1,074

 

1,074

Over five years

 

 

4,193

 

4,193

Total lease payments

$

92,623

$

22,688

 

$

115,311

Less: imputed interest

 

(5,633)

 

(3,741)

 

(9,374)

Total operating lease liabilities

$

86,990

$

18,947

 

$

105,937

Current operating lease liabilities

$

51,035

$

4,704

 

$

55,739

Non-current operating lease liabilities

 

35,955

 

14,243

 

50,198

Total operating lease liabilities

$

86,990

$

18,947

 

$

105,937

Schedule of weighted average remaining lease term and discount rate

The following table presents the weighted average remaining lease term and discount rate:

March 31, 

December 31, 

    

2022

2021

Weighted average remaining lease term

 

4.0

years

2.4

years

Weighted average discount rate

 

6.99

%  

7.57

%

Schedule of other information related to operating leases

The following table presents other information related to our operating leases (in thousands):

Three Months Ended

March 31, 

    

2022

    

2021

Cash paid for operating lease liabilities

$

16,010

 

$

16,502

Right-of-use assets obtained in exchange for new operating lease obligations (1)

 

60,699

 

113

(1)Amount in 2022 primarily relates to the charter extensions for the Siem Helix 1 and the Siem Helix 2 (Note 12).