Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

Note 5 — Leases

We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. The majority of the increases in our operating leases during the nine-month period ended September 30, 2022 are related to the vessel charter extensions for the Siem Helix 1, the Siem Helix 2, the Grand Canyon II, the Grand Canyon III and the Shelia Bordelon (Note 13). We also sublease some of our facilities under non-cancelable sublease agreements.

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Operating lease cost	$	16,088	$	14,336	$	44,348	$	45,391
Variable lease cost		4,488		4,298		14,035		11,417
Short-term lease cost		9,112		6,258		22,121		13,233
Sublease income		(300)		(289)		(930)		(967)
Net lease cost	$	29,388	$	24,603	$	79,574	$	69,074

Maturities of our operating lease liabilities as of September 30, 2022 are as follows (in thousands):

			Facilities and
	Vessels		Equipment		Total
Less than one year	$	56,405	$	6,334	$	62,739
One to two years		57,040		5,753		62,793
Two to three years		47,724		3,390		51,114
Three to four years		35,200		867		36,067
Four to five years		30,569		885		31,454
Over five years		7,589		2,790		10,379
Total lease payments	$	234,527	$	20,019	$	254,546
Less: imputed interest		(36,767)		(2,761)		(39,528)
Total operating lease liabilities	$	197,760	$	17,258	$	215,018
Current operating lease liabilities	$	42,621	$	5,481	$	48,102
Non-current operating lease liabilities		155,139		11,777		166,916
Total operating lease liabilities	$	197,760	$	17,258	$	215,018

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

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

	September 30,		December 31,
	2022		2021
Weighted average remaining lease term	4.2	years	2.4	years
Weighted average discount rate	7.83	%	7.57	%

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

	Nine Months Ended
	September 30,
	2022		2021
Cash paid for operating lease liabilities	$	43,342	$	46,141
Right-of-use assets obtained in exchange for new operating lease obligations		143,357		5,975