$HLX
HELIX ENERGY SOLUTIONS GROUP INC

2024 Q2 Form 10-Q Financial Statement

#000086682924000019 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $364.8M $296.2M
YoY Change 18.13% 18.44%
Cost Of Revenue $289.3M $276.7M
YoY Change 14.14% 17.78%
Gross Profit $75.49M $19.55M
YoY Change 36.38% 28.78%
Gross Profit Margin 20.69% 6.6%
Selling, General & Admin $22.29M $20.68M
YoY Change -7.14% 5.34%
% of Gross Profit 29.53% 105.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.47M $46.35M
YoY Change 10.82% 23.49%
% of Gross Profit 57.59% 237.05%
Operating Expenses $22.29M $20.68M
YoY Change -36.0% 5.34%
Operating Profit $53.19M -$1.126M
YoY Change 159.3% -86.44%
Interest Expense -$5.891M -$5.477M
YoY Change 39.33% -212.49%
% of Operating Profit -11.07%
Other Income/Expense, Net -$382.0K -$310.0K
YoY Change -93.14% -109.0%
Pretax Income $47.01M -$27.99M
YoY Change 351.54% 289.6%
Income Tax $14.70M -$1.698M
% Of Pretax Income 31.27%
Net Earnings $32.29M -$26.29M
YoY Change 354.77% 408.94%
Net Earnings / Revenue 8.85% -8.87%
Basic Earnings Per Share $0.21 -$0.17
Diluted Earnings Per Share $0.21 -$0.17
COMMON SHARES
Basic Shares Outstanding 152.5M 152.4M
Diluted Shares Outstanding 155.0M 152.4M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $275.1M $323.8M
YoY Change 50.6% 94.3%
Cash & Equivalents $275.1M $323.8M
Short-Term Investments
Other Short-Term Assets $65.21M $62.06M
YoY Change -2.63% -1.84%
Inventory
Prepaid Expenses $21.96M $23.81M
Receivables $283.6M $219.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $623.9M $605.8M
YoY Change 21.86% 34.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.501B $1.888B
YoY Change -16.01% 16.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $46.56M $120.1M
YoY Change -50.77% 144.78%
Total Long-Term Assets $1.973B $2.008B
YoY Change 3.2% 4.59%
TOTAL ASSETS
Total Short-Term Assets $623.9M $605.8M
Total Long-Term Assets $1.973B $2.008B
Total Assets $2.597B $2.614B
YoY Change 7.14% 10.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $144.8M $120.4M
YoY Change -0.76% -10.41%
Accrued Expenses $88.66M $218.7M
YoY Change -24.28% 259.62%
Deferred Revenue $17.09M $20.86M
YoY Change -27.65% 80.49%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.965M $8.965M
YoY Change -76.71% -76.69%
Total Short-Term Liabilities $300.2M $348.0M
YoY Change -21.57% 20.83%
LONG-TERM LIABILITIES
Long-Term Debt $309.7M $309.2M
YoY Change 39.19% 39.27%
Other Long-Term Liabilities $67.20M $379.8M
YoY Change -64.04% 276.73%
Total Long-Term Liabilities $376.9M $689.0M
YoY Change -7.93% 113.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $300.2M $348.0M
Total Long-Term Liabilities $376.9M $689.0M
Total Liabilities $1.100B $1.147B
YoY Change 23.35% 34.37%
SHAREHOLDERS EQUITY
Retained Earnings $318.5M $286.2M
YoY Change -2.08% -10.05%
Common Stock $1.268B $1.270B
YoY Change -1.82% -1.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.497B $1.467B
YoY Change
Total Liabilities & Shareholders Equity $2.597B $2.614B
YoY Change 7.14% 10.32%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $32.29M -$26.29M
YoY Change 354.77% 408.94%
Depreciation, Depletion And Amortization $43.47M $46.35M
YoY Change 10.82% 23.49%
Cash From Operating Activities -$12.16M $64.48M
YoY Change -138.61% -1295.92%
INVESTING ACTIVITIES
Capital Expenditures $3.989M $3.605M
YoY Change 217.85% -45.91%
Acquisitions
YoY Change
Other Investing Activities $0.00 $363.0K
YoY Change -0.55%
Cash From Investing Activities -$3.989M -$3.242M
YoY Change 217.85% -48.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -32.22M -69.30M
YoY Change 470.7% 635.4%
NET CHANGE
Cash From Operating Activities -12.16M 64.48M
Cash From Investing Activities -3.989M -3.242M
Cash From Financing Activities -32.22M -69.30M
Net Change In Cash -48.37M -8.342M
YoY Change -296.65% -58.14%
FREE CASH FLOW
Cash From Operating Activities -$12.16M $64.48M
Capital Expenditures $3.989M $3.605M
Free Cash Flow -$16.15M $60.88M
YoY Change -153.41% -604.93%

Facts In Submission

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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5392000
CY2024Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3605000
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6665000
CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
365000
CY2024Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
363000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3242000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6300000
CY2024Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
60699000
CY2024Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4322000
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4116000
CY2024Q1 us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
4381000
CY2024Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
984000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4177000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4983000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4003000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
564000
CY2024Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
500000
CY2023Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
239000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-69304000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9424000
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-280000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1187000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8342000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-19929000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
332191000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
189111000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
323849000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169182000
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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>
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<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, robotics and decommissioning operations. Our services are key in supporting a global energy transition:</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><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><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 are 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 the abandonment market; 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><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;">Renewables</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 provide specialty support services to renewable energy developments such as offshore wind farms, including boulder removal and unexploded ordnance clearance.</span></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We provide a range of services to the oil and gas and renewable energy markets primarily in the Gulf of Mexico (deepwater and shelf), U.S. East Coast, Brazil, North Sea, Asia Pacific and West Africa regions. Our North Sea operations and our Gulf of Mexico shelf operations are usually subject to seasonal changes in demand, which generally peaks in the summer months and declines in the winter months. Our services are segregated into four reportable business segments: Well Intervention, Robotics, Shallow Water Abandonment 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 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 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 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, IROV boulder grabs and robotics support vessels under term charters as well as spot vessels as needed. We offer our ROVs, trenchers and IROV boulder grabs 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 Helix Alliance that was acquired in July 2022, which offers a diversified fleet of marine assets including liftboats, offshore supply vessels (“OSVs”), dive support vessels (“DSVs”), a heavy lift derrick barge, a crew boat, 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>”), a ship-shaped dynamically positioned floating production vessel, the Helix Fast Response System (the “HFRS”), which combines the <i style="font-style:italic;">HP 1</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 mature oil and gas properties. All of our current Production Facilities activities are located in the Gulf of Mexico.</p>
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
23813000
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
28352000
CY2024Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
447000
CY2024Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
5520000
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
5824000
CY2024Q1 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
21581000
CY2023Q4 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
36041000
CY2024Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
10703000
CY2023Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
15006000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
62064000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
85223000
CY2024Q1 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
12544000
CY2023Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
12544000
CY2024Q1 us-gaap Capitalized Contract Cost Net Noncurrent
CapitalizedContractCostNetNoncurrent
2450000
CY2023Q4 us-gaap Capitalized Contract Cost Net Noncurrent
CapitalizedContractCostNetNoncurrent
587000
CY2024Q1 us-gaap Nontrade Receivables Noncurrent
NontradeReceivablesNoncurrent
26236000
CY2023Q4 us-gaap Nontrade Receivables Noncurrent
NontradeReceivablesNoncurrent
25623000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3968000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4105000
CY2024Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1848000
CY2023Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1964000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
47046000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
44823000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
31472000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
59010000
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
2720000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
4181000
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1938000
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
20856000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
32763000
CY2024Q1 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
85000000
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
85000000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23749000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20220000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
163797000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
203112000
CY2024Q1 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
62732000
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
61356000
CY2024Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
2700000
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
4892000
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
65432000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
66248000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
20475000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
17006000
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3057000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
4910000
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
8914000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6977000
CY2024Q1 us-gaap Sublease Income
SubleaseIncome
22000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
331000
CY2024Q1 us-gaap Lease Cost
LeaseCost
32424000
CY2023Q1 us-gaap Lease Cost
LeaseCost
28562000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
81467000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
79567000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
65177000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
63203000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
54708000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
127655000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
471777000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
102534000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
369243000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
54892000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
314351000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
369243000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
74127000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
58961000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
36489000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
27517000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
4284000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
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
OperatingLeaseLiabilityCurrent
62662000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
116185000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
178847000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0796
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0820
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
18720000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
16184000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
203040000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6070000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
8965000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
9412000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152369000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
9881000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
300000000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
328258000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1351000
CY2024Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
8743000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
318164000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
8965000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
309199000
CY2024Q1 us-gaap Interest Expense
InterestExpense
8778000
CY2023Q1 us-gaap Interest Expense
InterestExpense
4869000
CY2024Q1 us-gaap Interest Income Other
InterestIncomeOther
3301000
CY2023Q1 us-gaap Interest Income Other
InterestIncomeOther
682000
CY2024Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-5477000
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-4187000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1700000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000000.0
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.061
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.281
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
296211000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
250084000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
296211000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
250084000
CY2024Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5500000
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
5800000
CY2023Q1 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2024Q1 us-gaap Contract With Customer Asset Credit Loss Expense
ContractWithCustomerAssetCreditLossExpense
0
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
20900000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32800000
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16400000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3900000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
996600000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
663400000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
309700000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
23500000
CY2024Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
24000000.0
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
36600000
CY2024Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
20300000
CY2023Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4700000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-26287000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-5165000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-26287000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5165000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151764000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152369000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151764000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
2705000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
2740000
CY2024Q1 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
155074000
CY2023Q1 hlx Weighted Average Number Of Shares Outstanding Including Incremental Shares Diluted
WeightedAverageNumberOfSharesOutstandingIncludingIncrementalSharesDiluted
154504000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
296211000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
250084000
CY2023Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
3992000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1276000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8303000
CY2024Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-5477000
CY2023Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-4187000
CY2024Q1 hlx Gain Loss On Convertible Debt Instrument
GainLossOnConvertibleDebtInstrument
-20922000
CY2024Q1 hlx Other Nonoperating Income Expense And Royalty Income
OtherNonoperatingIncomeExpenseAndRoyaltyIncome
-310000
CY2023Q1 hlx Other Nonoperating Income Expense And Royalty Income
OtherNonoperatingIncomeExpenseAndRoyaltyIncome
5307000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-27985000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7183000
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
412452000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 us-gaap Assets
Assets
2613814000
CY2023Q4 us-gaap Assets
Assets
2556036000
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
61356000
CY2022Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
51956000
CY2024Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1376000
CY2023Q1 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1168000
CY2024Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
62732000
CY2023Q1 us-gaap Asset Retirement Obligation
AssetRetirementObligation
53124000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3407000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2277000
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
293000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
141000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3700000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2418000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
328258000
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
9613000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
8498000
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1509000
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
1708000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
200000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1100000
CY2024Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
345906000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
372779000

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