Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Obligations

The Company’s long-term debt obligations as of December 31 were as follows (in thousands):

	2021			2020
Recourse long-term debt(1):
Convertible Senior Notes	$	125,000		$	125,000
SEACOR Marine Foreign Holdings Credit Facility		86,470			100,750
Sea-Cat Crewzer III Term Loan Facility		19,178			21,653
SEACOR Offshore Delta (f/k/a SEACOSCO) Acquisition Debt		18,705			19,705
SEACOR Delta (f/k/a SEACOSCO) Shipyard Financing(2)		86,316			95,317
SEACOR Alpine Shipyard Financing(3)		29,734			31,103
SEACOR 88/888 Term Loan		5,500			5,500
Tarahumara Shipyard Financing		6,500			—
SEACOR Offshore OSV		18,052			—
Total recourse long-term debt		395,455			399,028
Non-recourse long-term debt(4):
Falcon Global USA Term Loan Facility		—			102,349
Falcon Global USA Revolver		—			15,000
SEACOR 88/888 Term Loan		5,500			5,500
Total non-recourse long-term debt		5,500			122,849
Total principal due for long-term debt		400,955			521,877
Current portion due within one year		(31,602	)		(32,377	)
Unamortized debt discount		(33,398	)		(44,864	)
Deferred financing costs		(3,193	)		(4,126	)
Long-term debt, less current portion	$	332,762		$	440,510
Long-term debt related to Asset Held-for-Sale Windcat Workboats Facilities	$	—		$	27,626

(1)	Recourse debt represents debt issued by SEACOR Marine and/or its subsidiaries and guaranteed by SEACOR Marine or one of its operating subsidiaries as provided in the relevant debt agreements.
(2)	SEACOR Delta Shipyard Financing includes vessel financing on the eight vessels acquired in the SEACOSCO Acquisition (see “Note 3. Business Acquisitions”).
(3)	SEACOR Alpine Shipyard Financing includes vessel financing on the SEACOR Alps, the SEACOR Andes and the SEACOR Atlas vessels.
(4)	Non-recourse debt represents debt issued by the Company’s Consolidated Subsidiaries with no recourse to SEACOR Marine or its other non-debtor operating subsidiaries with respect to the applicable instrument, other than certain limited support obligations as provided in the respective debt agreements, which in aggregate are not considered to be material to the Company’s business and financial condition.

Schedule of Long-term Debt Maturities

The Company’s contractual long-term debt maturities from continuing operations for the years ended December 31 were as follows (in thousands):

2022	$	31,602
2023		252,247
2024		44,334
2025		12,629
2026		11,365
Years subsequent to 2026		48,778
	$	400,955

Schedule of Gain on Transactions Under Conditional Payoff Agreement

On June 24, 2021, the Company recognized a gain on transactions under the Conditional Payoff Agreement of approximately $62.0 million, calculated as follows:

(In Thousands):	June 24, 2021
Falcon Global USA Term Loan Facility	$	102,349
Falcon Global USA Revolver		15,000
Unamortized debt discount		(4,600	)
Current Liabilities		112,749
Transaction Fees		(755	)
Cash Paid		(27,500	)
Hull and Machinery Insurance Proceeds		(22,500	)
Gain on Troubled Debt Restructuring	$	61,994