Details Of Certain Accounts (Tables)

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of other current assets

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

	March 31,		December 31,
	2024		2023
Prepaids	$	23,813	$	28,352
Income tax receivable		447		—
Contract assets (Note 8)		5,520		5,824
Deferred costs (Note 8)		21,581		36,041
Other		10,703		15,006
Total other current assets	$	62,064	$	85,223

Schedule of other assets, net

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

	March 31,		December 31,
	2024		2023
Prepaid charter (1)	$	12,544	$	12,544
Deferred costs (Note 8)		2,450		587
Other receivable (2)		26,236		25,623
Intangible assets with finite lives, net		3,968		4,105
Other		1,848		1,964
Total other assets, net	$	47,046	$	44,823

(1) Represents prepayments to the owner of the Siem Helix 1 and the Siem Helix 2 to offset certain payment obligations associated with the vessels at the end of their respective charter term.

(2) Represents the present value of the agreed-upon amounts that we are entitled to receive from Marathon Oil Corporation (“Marathon Oil”) for remaining P&A work to be performed by us on Droshky oil and gas properties we acquired from Marathon Oil in 2019.

Schedule of accrued liabilities

Accrued liabilities consist of the following (in thousands):

	March 31,		December 31,
	2024		2023
Accrued payroll and related benefits	$	31,472	$	59,010
Accrued interest		2,720		4,181
Income tax payable		—		1,938
Deferred revenue (Note 8)		20,856		32,763
Earn-out consideration (1)		85,000		85,000
Other (2)		23,749		20,220
Total accrued liabilities	$	163,797	$	203,112

(1) Represents the final amount of the earn-out consideration associated with the acquisition of the Alliance group of companies (collectively “Alliance”) on July 1, 2022, which was paid to the seller of Alliance in cash on April 3, 2024.

(2) Amounts as of March 31, 2024 and December 31, 2023 included $11.6 million and $9.0 million, respectively, of credits towards future services that we granted for the purchase of five P&A systems and other assets.

Schedule of other non-current liabilities

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

	March 31,		December 31,
	2024		2023
Asset retirement obligations (Note 12)	$	62,732	$	61,356
Other (1)		2,700		4,892
Total other non-current liabilities	$	65,432	$	66,248

(1) Amount as of December 31, 2023 included $2.6 million of credits offered by us in exchange for the purchase of P&A equipment (see above).