2024 Q1 Form 10-K Financial Statement

#000086682924000007 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $296.2M $335.2M $1.290B
YoY Change 18.44% 16.45% 47.72%
Cost Of Revenue $276.7M $285.9M $1.089B
YoY Change 17.78% 11.47% 32.45%
Gross Profit $19.55M $49.28M $200.4M
YoY Change 28.78% 57.12% 295.84%
Gross Profit Margin 6.6% 14.7% 15.53%
Selling, General & Admin $20.68M $22.97M $94.43M
YoY Change 5.34% 0.81% 23.03%
% of Gross Profit 105.76% 46.62% 47.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.35M $44.10M $164.1M
YoY Change 23.49% 9.99% 15.02%
% of Gross Profit 237.05% 89.5% 81.91%
Operating Expenses $20.68M $33.90M $94.43M
YoY Change 5.34% -6.3% 23.03%
Operating Profit -$1.126M $15.38M $63.51M
YoY Change -86.44% -419.55% -241.59%
Interest Expense -$5.477M -$4.771M $21.36M
YoY Change -212.49% 10.11% 5.86%
% of Operating Profit -31.02% 33.63%
Other Income/Expense, Net -$310.0K $7.056M -$3.590M
YoY Change -109.0% -52.0% -84.61%
Pretax Income -$27.99M -$19.61M $7.514M
YoY Change 289.6% -474.42% -109.99%
Income Tax -$1.698M $8.721M $18.35M
% Of Pretax Income 244.24%
Net Earnings -$26.29M -$28.33M -$10.84M
YoY Change 408.94% -1145.88% -87.65%
Net Earnings / Revenue -8.87% -8.45% -0.84%
Basic Earnings Per Share -$0.17 -$0.07
Diluted Earnings Per Share -$0.17 -$0.19 -$0.07
COMMON SHARES
Basic Shares Outstanding 152.4M 150.7M 150.9M
Diluted Shares Outstanding 152.4M 150.9M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $323.8M $332.2M $332.2M
YoY Change 94.3% 78.02% 78.02%
Cash & Equivalents $323.8M $332.2M $332.2M
Short-Term Investments
Other Short-Term Assets $62.06M $85.22M $85.22M
YoY Change -1.84% 45.19% 55.2%
Inventory
Prepaid Expenses $23.81M $28.35M
Receivables $219.8M $280.4M $280.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $605.8M $697.8M $697.8M
YoY Change 34.81% 51.51% 51.51%
LONG-TERM ASSETS
Property, Plant & Equipment $1.888B $1.573B $1.742B
YoY Change 16.1% -4.19% -5.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $120.1M $44.82M $116.1M
YoY Change 144.78% -11.25% 93.54%
Total Long-Term Assets $2.008B $1.858B $1.858B
YoY Change 4.59% -3.66% -3.66%
TOTAL ASSETS
Total Short-Term Assets $605.8M $697.8M $697.8M
Total Long-Term Assets $2.008B $1.858B $1.858B
Total Assets $2.614B $2.556B $2.556B
YoY Change 10.32% 6.98% 6.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $120.4M $134.6M $134.6M
YoY Change -10.41% -0.53% -0.53%
Accrued Expenses $218.7M $203.1M $265.8M
YoY Change 259.62% 176.06% 133.04%
Deferred Revenue $20.86M $32.76M
YoY Change 80.49% 228.91%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.965M $48.29M $48.29M
YoY Change -76.69% 26.42% 26.42%
Total Short-Term Liabilities $348.0M $448.6M $448.6M
YoY Change 20.83% 50.57% 50.57%
LONG-TERM LIABILITIES
Long-Term Debt $309.2M $313.4M $313.4M
YoY Change 39.27% 38.76% 38.76%
Other Long-Term Liabilities $379.8M $66.25M $182.4M
YoY Change 276.73% -30.43% -27.0%
Total Long-Term Liabilities $689.0M $379.7M $495.9M
YoY Change 113.43% 18.24% 4.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $348.0M $448.6M $448.6M
Total Long-Term Liabilities $689.0M $379.7M $495.9M
Total Liabilities $1.147B $1.055B $1.055B
YoY Change 34.37% 20.9% 20.9%
SHAREHOLDERS EQUITY
Retained Earnings $286.2M $312.5M
YoY Change -10.05% -3.35%
Common Stock $1.270B $1.272B
YoY Change -1.86% -2.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.467B $1.501B $1.501B
YoY Change
Total Liabilities & Shareholders Equity $2.614B $2.556B $2.556B
YoY Change 10.32% 6.98% 6.98%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$26.29M -$28.33M -$10.84M
YoY Change 408.94% -1145.88% -87.65%
Depreciation, Depletion And Amortization $46.35M $44.10M $164.1M
YoY Change 23.49% 9.99% 15.02%
Cash From Operating Activities $64.48M $94.74M $152.5M
YoY Change -1295.92% 90.57% 198.3%
INVESTING ACTIVITIES
Capital Expenditures $3.605M $3.423M $19.59M
YoY Change -45.91% -88.0% -41.54%
Acquisitions
YoY Change
Other Investing Activities $363.0K $564.0K $929.0K
YoY Change -0.55% -100.89%
Cash From Investing Activities -$3.242M -$2.859M -$18.66M
YoY Change -48.54% -89.97% -86.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.99M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -69.30M 76.48M 25.11M
YoY Change 635.4% -18892.14% -155.99%
NET CHANGE
Cash From Operating Activities 64.48M 94.74M 152.5M
Cash From Investing Activities -3.242M -2.859M -18.66M
Cash From Financing Activities -69.30M 76.48M 25.11M
Net Change In Cash -8.342M 168.4M 143.1M
YoY Change -58.14% 709.78% -203.67%
FREE CASH FLOW
Cash From Operating Activities $64.48M $94.74M $152.5M
Capital Expenditures $3.605M $3.423M $19.59M
Free Cash Flow $60.88M $91.31M $132.9M
YoY Change -604.93% 330.77% 654.77%

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CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">HELIX ENERGY SOLUTIONS GROUP, INC. AND SUBSIDIARIES</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 — Organization</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Unless the context indicates otherwise, the terms “we,” “us” and “our” in this Annual Report refer collectively to Helix Energy Solutions Group, Inc. and its subsidiaries (“Helix” or the “Company”). We are an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and full-field decommissioning operations. Our services are key in supporting a global energy transition by maximizing production of existing oil and gas reserves, decommissioning end-of-life oil and gas fields and supporting renewable energy developments. We provide a range of services to the oil and gas and renewable energy markets primarily in the Gulf of Mexico, U.S. East Coast, Brazil, North Sea, Asia Pacific and West Africa regions. We expanded our service capabilities to the Gulf of Mexico shelf with the acquisition of the Alliance group of companies (collectively “Alliance”) on July 1, 2022, which we re-branded as Helix Alliance. Our North Sea operations and our Gulf of Mexico shelf operations related to Helix Alliance are usually subject to seasonal changes in demand, which generally peaks in the summer months and declines in the winter months.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Our Operations</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our services are segregated into four reportable business segments: Well Intervention, Robotics, Shallow Water Abandonment, which was formed in the third quarter 2022 comprising the Helix Alliance business, and Production Facilities.</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 subsea offshore wells for the purpose of performing production enhancement or decommissioning operations, thereby mitigating the need to drill new wells by extending the useful lives of existing wells and preserving the environment by preventing uncontrolled releases of oil and natural 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 Helix</i> <i style="font-style:italic;">1</i> and the <i style="font-style:italic;">Siem Helix</i> <i style="font-style:italic;">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 trenching, seabed clearance, offshore construction and inspection, repair and maintenance (“IRM”) services to both the oil and gas and the renewable energy markets globally, thereby assisting with the delivery of renewable 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, the IROV boulder grab and robotics support vessels under term charters as well as spot vessels as needed. We offer our ROVs, trenchers and the IROV boulder grab on a stand-alone basis or on an integrated basis with chartered robotics support vessels.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Our Shallow Water Abandonment segment provides services in support of the upstream and midstream ‎industries predominantly in the Gulf of Mexico shelf, including offshore oilfield decommissioning and ‎reclamation, project management, engineered solutions, intervention, maintenance, repair, heavy lift and commercial diving services. Our Shallow Water Abandonment segment includes a diversified fleet of marine assets including liftboats, offshore supply vessels (“OSVs”), dive support vessels (“DSVs”), a heavy lift derrick barge, a crew boat, plug and abandonment (“P&amp;A”) systems and coiled tubing (“CT”) systems.</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>”), the Helix Fast Response System (the “HFRS”), and our ownership of mature oil and gas properties. All of our current Production Facilities activities are located in the Gulf of Mexico.</p>
CY2023 us-gaap Number Of Reportable Segments
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.</p>
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CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
20562000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
16711000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
54613000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
29487000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20590000
CY2023 us-gaap Sublease Income
SubleaseIncome
1113000
CY2022 us-gaap Sublease Income
SubleaseIncome
1275000
CY2021 us-gaap Sublease Income
SubleaseIncome
1303000
CY2023 us-gaap Lease Cost
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147698000
CY2022 us-gaap Lease Cost
LeaseCost
109841000
CY2021 us-gaap Lease Cost
LeaseCost
96634000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
74127000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
58961000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
36489000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
27517000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4284000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1926000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
203304000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24457000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
178847000
CY2023Q4 us-gaap Operating Lease Liability Current
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62662000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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116185000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
178847000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
64666000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
61212000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
46197000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
36159000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
27203000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5824000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
241261000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35661000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
205600000
CY2022Q4 us-gaap Operating Lease Liability Current
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50914000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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154686000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
205600000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0820
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0784
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0757
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
68788000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
58129000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
61826000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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26502000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
144134000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5992000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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372779000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
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270913000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
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1404000
CY2023Q4 us-gaap Deferred Finance Costs Noncurrent Net
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9653000
CY2022Q4 us-gaap Deferred Finance Costs Noncurrent Net
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6838000
CY2023Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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264075000
CY2023Q4 us-gaap Long Term Debt Current
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48292000
CY2022Q4 us-gaap Long Term Debt Current
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38200000
CY2023Q4 us-gaap Long Term Debt Noncurrent
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313430000
CY2022Q4 us-gaap Long Term Debt Noncurrent
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225875000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
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48948000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
9186000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
9644000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
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5001000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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300000000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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372779000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
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1404000
CY2023Q4 us-gaap Deferred Finance Costs Noncurrent Net
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9653000
CY2023Q4 us-gaap Long Term Debt
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361722000
CY2023Q4 us-gaap Long Term Debt Current
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48292000
CY2023Q4 us-gaap Long Term Debt Noncurrent
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313430000
CY2023 us-gaap Interest Expense
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CY2022 us-gaap Interest Expense
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CY2021 us-gaap Interest Expense
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CY2023 us-gaap Interest Income Other
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4021000
CY2022 us-gaap Interest Income Other
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1226000
CY2021 us-gaap Interest Income Other
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288000
CY2023 us-gaap Interest Income Expense Nonoperating Net
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-17338000
CY2022 us-gaap Interest Income Expense Nonoperating Net
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-18950000
CY2021 us-gaap Interest Income Expense Nonoperating Net
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CY2023 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2021 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2023 us-gaap Current Foreign Tax Expense Benefit
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5310000
CY2022 us-gaap Current Foreign Tax Expense Benefit
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8217000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7347000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6820000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
8217000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6244000
CY2023 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
8689000
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
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1167000
CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
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-5756000
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
2843000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
3219000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-9446000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11532000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4386000
CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18352000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12603000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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7514000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1590000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
18011000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
10326000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
8110000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2926000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2366000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1487000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2023 hlx Effective Income Tax Rate Reconciliation Nondeductible Expense Extinguishment Of Long Term Debt Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExtinguishmentOfLongTermDebtAmount
6372000
CY2023 hlx Effective Income Tax Rate Reconciliation Nondeductible Expense Extinguishment Of Long Term Debt Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseExtinguishmentOfLongTermDebtPercent
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CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-488000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-96000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-261000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18352000
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.442
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12603000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.168
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0.127
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8100000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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132178000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
147302000
CY2023Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
1560000
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
1868000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
133738000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
149170000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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78250000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
53136000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
26048000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
19308000
CY2023Q4 us-gaap Deferred Tax Assets Gross
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104298000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
72444000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
22157000
CY2023Q4 us-gaap Deferred Tax Liabilities
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110555000
CY2022Q4 us-gaap Deferred Tax Liabilities
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98883000
CY2023Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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79100000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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100000
CY2023Q4 us-gaap Common Stock Shares Authorized
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240000000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
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CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
6300000
CY2021 us-gaap Contract With Customer Receivable Credit Loss Expense Reversal
ContractWithCustomerReceivableCreditLossExpenseReversal
0
CY2022 us-gaap Contract With Customer Receivable Credit Loss Expense Reversal
ContractWithCustomerReceivableCreditLossExpenseReversal
0
CY2023 us-gaap Contract With Customer Receivable Credit Loss Expense Reversal
ContractWithCustomerReceivableCreditLossExpenseReversal
0
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32800000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
8700000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7400000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7900000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
128900000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
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CY2023Q4 us-gaap Capitalized Contract Cost Net
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CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
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CY2023 us-gaap Capitalized Contract Cost Amortization
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43200000
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
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CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
39100000
CY2021 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
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CY2023 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2021 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150056000
CY2023 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
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CY2022 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
2158000
CY2021 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
1282000
CY2023 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
154071000
CY2022 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
153434000
CY2021 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
151338000
CY2023 hlx Number Of Active Incentive Plans
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1
CY2023 us-gaap Number Of Reportable Segments
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CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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Files In Submission

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hlx-20231231_lab.xml Edgar Link unprocessable
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0000866829-24-000007-index.html Edgar Link pending
0000866829-24-000007.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
hlx-20231231.xsd Edgar Link pending
hlx-20231231x10k.htm Edgar Link pending
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hlx-20231231_cal.xml Edgar Link unprocessable
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hlx-20231231_def.xml Edgar Link unprocessable
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