Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Note 6 — 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 year ended December 31, 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 16). We also sublease some of our facilities under non-cancelable sublease agreements. As of December 31, 2022, the minimum sublease income to be received in the future totaled $1.3 million.

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

	Year Ended December 31,
	2022		2021		2020
Operating lease cost	$	61,067	$	60,636	$	64,742
Variable lease cost		20,562		16,711		15,021
Short-term lease cost		29,487		20,590		37,524
Sublease income		(1,275)		(1,303)		(1,286)
Net lease cost	$	109,841	$	96,634	$	116,001

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

			Facilities and
	Vessels		Equipment		Total
Less than one year	$	58,063	$	6,603	$	64,666
One to two years		55,515		5,697		61,212
Two to three years		43,400		2,797		46,197
Three to four years		35,200		959		36,159
Four to five years		26,244		959		27,203
Over five years		3,041		2,783		5,824
Total lease payments	$	221,463	$	19,798	$	241,261
Less: imputed interest		(32,986)		(2,675)		(35,661)
Total operating lease liabilities	$	188,477	$	17,123	$	205,600
Current operating lease liabilities	$	45,131	$	5,783	$	50,914
Non-current operating lease liabilities		143,346		11,340		154,686
Total operating lease liabilities	$	188,477	$	17,123	$	205,600

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:

	December 31,
	2022		2021		2020
Weighted average remaining lease term	4.0	years	2.4	years	3.1	years
Weighted average discount rate	7.84	%	7.57	%	7.53	%

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

	Year Ended December 31,
	2022		2021		2020
Cash paid for operating lease liabilities	$	58,129	$	61,826	$	66,026
Right-of-use assets obtained in exchange for new operating lease obligations		144,134		5,992		516