$HLX
HELIX ENERGY SOLUTIONS GROUP INC

2022 Q3 Form 10-Q Financial Statement

#000086682922000020 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $272.5M $162.6M $150.1M
YoY Change 50.82% 0.41% -8.13%
Cost Of Revenue $233.3M $164.0M $168.7M
YoY Change 31.29% 3.25% 13.4%
Gross Profit $39.22M -$1.354M -$18.61M
YoY Change 1207.17% -143.26% -227.25%
Gross Profit Margin 14.39% -0.83% -12.4%
Selling, General & Admin $23.56M $17.62M $14.37M
YoY Change 76.55% 31.26% -5.34%
% of Gross Profit 60.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.94M $33.16M $33.49M
YoY Change -2.11% -5.01% -3.12%
% of Gross Profit 91.66%
Operating Expenses $23.56M $17.62M $14.37M
YoY Change 76.55% 31.26% -5.34%
Operating Profit $12.23M -$18.98M -$32.98M
YoY Change -218.34% 73.44% 5841.8%
Interest Expense $4.923M $5.034M $5.307M
YoY Change -19.26% -15.3% -13.17%
% of Operating Profit 40.27%
Other Income/Expense, Net -$20.27M -$13.47M -$3.881M
YoY Change 404.88% -1503.23% -340.01%
Pretax Income -$12.26M -$28.27M -$39.89M
YoY Change -38.99% 80.6% 1259.61%
Income Tax $6.500M $1.400M $2.100M
% Of Pretax Income
Net Earnings -$18.76M -$29.70M -$42.03M
YoY Change -1.47% 116.64% 1360.42%
Net Earnings / Revenue -6.88% -18.26% -28.0%
Basic Earnings Per Share -$0.12 -$0.20 -$0.28
Diluted Earnings Per Share -$0.12 -$0.20 -$0.28
COMMON SHARES
Basic Shares Outstanding 151.7M 151.2M 151.1M
Diluted Shares Outstanding 151.3M 151.2M 151.1M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $162.3M $260.6M $229.7M
YoY Change -31.69% 6.84% 12.18%
Cash & Equivalents $162.3M $260.6M $229.7M
Short-Term Investments
Other Short-Term Assets $83.30M $68.99M $59.27M
YoY Change 33.41% -12.53% -31.27%
Inventory
Prepaid Expenses $30.37M $17.07M $16.81M
Receivables $228.0M $153.3M $141.8M
Other Receivables $30.05M $30.05M $29.59M
Total Short-Term Assets $476.1M $485.4M $503.7M
YoY Change -6.27% -6.59% 3.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.608B $1.539B $1.610B
YoY Change -4.67% -11.3% -8.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.19M $49.81M $42.69M
YoY Change 76.41% 33.13% 13.82%
Total Long-Term Assets $1.879B $1.728B $1.804B
YoY Change 2.18% -8.95% -6.68%
TOTAL ASSETS
Total Short-Term Assets $476.1M $485.4M $503.7M
Total Long-Term Assets $1.879B $1.728B $1.804B
Total Assets $2.355B $2.214B $2.307B
YoY Change 0.35% -8.44% -4.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.9M $99.72M $97.53M
YoY Change 75.48% 42.24% 76.85%
Accrued Expenses $112.3M $85.18M $74.87M
YoY Change 31.77% 1.87% -2.11%
Deferred Revenue $20.84M $6.386M $5.559M
YoY Change 121.11% -31.09% -42.18%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $38.15M $8.133M $43.12M
YoY Change -10.91% -88.46% 18.2%
Total Short-Term Liabilities $330.5M $232.7M $257.0M
YoY Change 27.95% -15.37% 17.65%
LONG-TERM LIABILITIES
Long-Term Debt $225.4M $259.0M $258.5M
YoY Change -13.85% -2.35% -13.71%
Other Long-Term Liabilities $53.45M $196.0K $392.0K
YoY Change 3509.18% -92.46% -87.38%
Total Long-Term Liabilities $278.9M $259.2M $258.9M
YoY Change 5.98% -3.23% -14.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $330.5M $232.7M $257.0M
Total Long-Term Liabilities $278.9M $259.2M $258.9M
Total Liabilities $873.6M $681.9M $714.6M
YoY Change 28.93% -4.99% 0.6%
SHAREHOLDERS EQUITY
Retained Earnings $320.6M $339.3M $369.0M
YoY Change -26.65% -25.6% -21.16%
Common Stock $1.297B $1.295B $1.293B
YoY Change 0.51% 0.5% 0.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.482B $1.532B $1.593B
YoY Change
Total Liabilities & Shareholders Equity $2.355B $2.214B $2.307B
YoY Change 0.35% -8.44% -4.72%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$18.76M -$29.70M -$42.03M
YoY Change -1.47% 116.64% 1360.42%
Depreciation, Depletion And Amortization $35.94M $33.16M $33.49M
YoY Change -2.11% -5.01% -3.12%
Cash From Operating Activities $24.65M -$5.841M -$17.41M
YoY Change -14.15% -111.1% -143.68%
INVESTING ACTIVITIES
Capital Expenditures -$2.803M -$1.564M -$623.0K
YoY Change 356.51% -71.42% -52.08%
Acquisitions
YoY Change
Other Investing Activities -$112.6M $7.840M
YoY Change -281662.5% 71172.73%
Cash From Investing Activities -$115.4M $6.276M -$623.0K
YoY Change 20009.41% -214.92% -53.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.118M -34.91M -5.408M
YoY Change -87.47% 1103.0% -90.97%
NET CHANGE
Cash From Operating Activities 24.65M -5.841M -17.41M
Cash From Investing Activities -115.4M 6.276M -623.0K
Cash From Financing Activities -4.118M -34.91M -5.408M
Net Change In Cash -94.90M -34.48M -24.45M
YoY Change 1910.93% -177.86% 16.76%
FREE CASH FLOW
Cash From Operating Activities $24.65M -$5.841M -$17.41M
Capital Expenditures -$2.803M -$1.564M -$623.0K
Free Cash Flow $27.45M -$4.277M -$16.79M
YoY Change -6.39% -107.36% -140.78%

Facts In Submission

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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Certain reclassifications were made to previously reported amounts in the consolidated financial statements and notes thereto to make them consistent with the current presentation format.</p>
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 2 — Company Overview</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We are an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. Our services are centered on a three-legged business model:</p><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><i style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:normal;">Production maximization</i><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">—</span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> our assets and methodologies are specifically designed to efficiently enhance and extend the lives of existing oil and gas reserves; we also offer an alternative to take over end-of-life reserves in preparation for their abandonment;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><i style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:normal;">Decommissioning</i><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">—</span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> we have historical success as a full-field abandonment contractor and believe that regulatory push for </span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">plug and abandonment </span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">(“P&amp;A”) and transition to renewable energy will facilitate the continued growth of abandonment backlog; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><i style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:normal;">Renewable energy support</i><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;">—</span><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> we are an established global leader in jet trenching and continue to seek to provide specialty support services to offshore wind farm developments, including boulder removal and unexploded ordnance clearance.</span></td></tr></table><div style="margin-top:12pt;"/><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We provide services primarily in deepwater in the Gulf of Mexico, Brazil, North Sea, Asia Pacific and West Africa regions. On July 1, 2022, we completed the acquisition of the Alliance group of companies (collectively “Alliance”), expanding our service capabilities to shallow waters in the Gulf of Mexico. Our North Sea operations are subject to seasonal changes in demand, which generally peaks in the summer months and declines in the winter months. Our services are segregated into three reportable business segments: Well Intervention, Robotics and Production Facilities (Note 10).</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our Well Intervention segment provides services enabling our customers to safely access offshore wells for the purpose of performing production enhancement or decommissioning operations, thereby avoiding drilling new wells by extending the useful lives of existing wells and preserving the environment by preventing uncontrolled releases of oil and gas. Our well intervention vessels include the <i style="font-style:italic;">Q4000</i>, the <i style="font-style:italic;">Q5000</i>, the <i style="font-style:italic;">Q7000</i>, the <i style="font-style:italic;">Seawell</i>, the<i style="font-style:italic;"> Well Enhancer</i>, and two chartered monohull vessels, the <i style="font-style:italic;">Siem H</i>elix <i style="font-style:italic;">1</i> and the <i style="font-style:italic;">Siem Helix 2</i>. Our well intervention equipment includes intervention systems such as intervention riser systems (“IRSs”), subsea intervention lubricators (“SILs”) and the Riserless Open-water Abandonment Module, some of which we provide on a stand-alone basis.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our Robotics segment provides offshore construction, trenching, seabed clearance, and inspection, repair and maintenance (“IRM”) services to both the oil and gas and the renewable energy markets globally, thereby assisting the delivery of affordable and reliable energy and supporting the responsible transition away from a carbon-based economy. Additionally, our Robotics services are used in and complement our well intervention services. Our Robotics segment includes remotely operated vehicles (“ROVs”), trenchers and robotics support vessels under term charters as well as spot vessels as needed.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt;">Our Production Facilities segment includes the <i style="font-style:italic;">Helix Producer</i> <i style="font-style:italic;">I</i> (the “<i style="font-style:italic;">HP I</i>”), a ship-shaped dynamically positioned floating production vessel, the Helix Fast Response System (the “HFRS”), which combines the <i style="font-style:italic;">HP I</i>, the <i style="font-style:italic;">Q4000</i> and the <i style="font-style:italic;">Q5000</i> with certain well control equipment that can be deployed to respond to a well control incident, and our ownership of oil and gas properties. We also have a 20% ownership interest in Independence Hub, LLC (“Independence Hub”) that we account for using the equity method of accounting. In May 2022, we received a net cash distribution of $7.8 million from the sale of the “Independence Hub” platform owned by Independence Hub. All of our current Production Facilities activities are located in the Gulf of Mexico.</p>
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us-gaap Variable Lease Cost
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us-gaap Variable Lease Cost
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us-gaap Short Term Lease Cost
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us-gaap Short Term Lease Cost
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381000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
329000
us-gaap Sublease Income
SubleaseIncome
630000
us-gaap Sublease Income
SubleaseIncome
678000
CY2022Q2 us-gaap Lease Cost
LeaseCost
25613000
CY2021Q2 us-gaap Lease Cost
LeaseCost
23388000
us-gaap Lease Cost
LeaseCost
50186000
us-gaap Lease Cost
LeaseCost
44471000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
47879000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
39076000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
38060000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
18071000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
17813000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
3289000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
164188000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20943000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
1074000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
4193000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
115311000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9374000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
105937000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
55739000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0697
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0757
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-13709000
us-gaap Operating Lease Payments
OperatingLeasePayments
28860000
us-gaap Operating Lease Payments
OperatingLeasePayments
31562000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
60772000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1500000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
8133000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
38538000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
8965000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
209412000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
9882000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
274930000
CY2022Q2 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
7820000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
267110000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
8133000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
258977000
us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2022Q2 us-gaap Interest Expense
InterestExpense
5034000
CY2021Q2 us-gaap Interest Expense
InterestExpense
5943000
us-gaap Interest Expense
InterestExpense
10341000
us-gaap Interest Expense
InterestExpense
12055000
CY2022Q2 us-gaap Interest Income Other
InterestIncomeOther
235000
CY2021Q2 us-gaap Interest Income Other
InterestIncomeOther
24000
us-gaap Interest Income Other
InterestIncomeOther
368000
us-gaap Interest Income Other
InterestIncomeOther
83000
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-4799000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-5919000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-9973000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-11972000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-29699000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151205000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9100000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
600000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13709000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150028000
us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2021Q2 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3600000
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.051
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.052
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000000.0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1900000
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.126
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.100
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
162612000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
161941000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312737000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
325356000
CY2022Q2 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6400000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8700000
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3500000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5800000
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4200000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5400000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
551500000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
232400000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
233500000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
85600000
CY2022Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
8700000
CY2021Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
3300000
CY2022Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
6600000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
11200000
CY2021Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
9500000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
19900000
us-gaap Operating Income Loss
OperatingIncomeLoss
-51953000
us-gaap Net Income Loss
NetIncomeLoss
-71730000
us-gaap Net Income Loss
NetIncomeLoss
-16587000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-71730000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151174000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16828000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149982000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151205000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150028000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151174000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149982000
CY2022Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1250000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1325000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1119000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1282000
CY2022Q2 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
152455000
CY2021Q2 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
151353000
hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
152293000
hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
151264000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
162612000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
161941000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312737000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
325356000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-18976000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10941000
us-gaap Operating Income Loss
OperatingIncomeLoss
-11496000
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
267368000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
313850000
CY2022Q2 us-gaap Assets
Assets
2213653000
CY2021Q4 us-gaap Assets
Assets
2326028000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
316891000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
29658000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
30913000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
-2631000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1303000
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
48000
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
30961000
CY2021Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
28330000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
86000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-76000
us-gaap Interest Paid Net
InterestPaidNet
9550000
us-gaap Interest Paid Net
InterestPaidNet
10601000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4381000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4588000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
300000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
300000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1477000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3469000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1845000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1563000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1548000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
274930000

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