Details of Certain Accounts

3 Months Ended

Mar. 31, 2025

Details of Certain Accounts

Details Of Certain Accounts

Note 3 — Details of Certain Accounts

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

	March 31,		December 31,
	2025		2024
Prepaids	$	24,333	$	26,780
Income tax receivable		9,441		2,635
Contract assets (Note 8)		25,974		12,221
Deferred costs (Note 8)		38,823		31,874
Other		9,164		9,512
Total other current assets	$	107,735	$	83,022

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

	March 31,		December 31,
	2025		2024
Prepaid charter (1)	$	12,544	$	12,544
Deferred costs (Note 8)		4,358		5,348
Other receivable (2)		25,422		24,827
Intangible assets with finite lives, net		3,555		3,630
Other		1,725		1,829
Total other assets, net	$	47,604	$	48,178

(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 receivables for P&A work to be performed by us on Droshky oil and gas properties we acquired from Marathon Oil Corporation in 2019.

Accrued liabilities consist of the following (in thousands):

	March 31,		December 31,
	2025		2024
Accrued payroll and related benefits	$	30,101	$	49,521
Accrued interest		2,634		10,278
Deferred revenue (Note 8)		37,756		14,914
Other		20,115		15,742
Total accrued liabilities	$	90,606	$	90,455

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

	March 31,		December 31,
	2025		2024
Deferred revenue (Note 8)	$	2,471	$	699
Asset retirement obligations (Note 12)		64,355		62,947
Other		3,278		3,325
Total other non-current liabilities	$	70,104	$	66,971