10-Q Filing

HELIX ENERGY SOLUTIONS GROUP INC CIK: 866829 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000866829-22-000008`
Period End Date	20220331
Filing Date	20220427
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	hlx-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 33 Cash Flow Statement 48 Stockholders Equity 24 Comprehensive Income 13

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.67M	USD	Point-in-time
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.35M	USD	Point-in-time
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.47M	USD	Point-in-time
Allowance for credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$253.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$229.74M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$73.61M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$72.93M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $1,351 and $1,477, respectively	`AccountsReceivableNetCurrent`	$144.14M	USD	Point-in-time
Accounts receivable, net of allowance for credit losses of $1,351 and $1,477, respectively	`AccountsReceivableNetCurrent`	$141.78M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$58.27M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.27M	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	240.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$503.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$529.54M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.94B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	151.64M	shares	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$2.92B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	151.12M	shares	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.31B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.28B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.61B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.66B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$150.89M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$104.19M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$34.66M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$42.69M	USD	Point-in-time
Total assets	`Assets`	$2.33B	USD	Point-in-time
Total assets	`Assets`	$2.31B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$87.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$97.53M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$74.87M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$91.71M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$43.12M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$42.87M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$41.46M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$55.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$256.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$278.28M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$258.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$262.14M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$112.51M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$50.20M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$86.24M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$86.97M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$975.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$392.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$714.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$678.56M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, no par, 240,000 shares authorized, 151,637 and 151,124 shares issued, respectively	`CommonStockValue`	$1.29B	USD	Point-in-time
Common stock, no par, 240,000 shares authorized, 151,637 and 151,124 shares issued, respectively	`CommonStockValue`	$1.29B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$369.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$411.07M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-56.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-69.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.71B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.65B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.59B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.74B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.33B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.31B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$163.41M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$150.12M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$148.79M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$168.73M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-18.61M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$14.62M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$14.37M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-555.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-32.98M	USD	1 Quarter
Net interest expense	`InterestIncomeExpenseNonoperatingNet`	$-6.05M	USD	1 Quarter
Net interest expense	`InterestIncomeExpenseNonoperatingNet`	$-5.17M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-3.88M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.62M	USD	1 Quarter
Royalty income and other	`RoyaltyIncomeAndOther`	$2.06M	USD	1 Quarter
Royalty income and other	`RoyaltyIncomeAndOther`	$2.14M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.93M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-39.89M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.14M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$116.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-42.03M	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.05M	USD	1 Quarter
Net loss attributable to redeemable noncontrolling interests	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-172.00K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLoss`	$-42.03M	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLoss`	$-2.88M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.28	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.28	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	149.94M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	151.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	149.94M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	151.14M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-42.03M	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$34.57M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$810.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$590.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.67M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-722.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-892.00K	USD	1 Quarter
Unrealized foreign currency (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$951.00K	USD	1 Quarter
Unrealized foreign currency (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-2.60M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$463.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-906.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.23M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-6.26M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$534.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-9.36M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.65M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.88M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.79M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$9.97M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.87M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.41M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.33M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$623.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-623.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$43.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfFinancingCosts`	$136.00K	USD	1 Quarter
Payments related to tax withholding for share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.52M	USD	1 Quarter
Payments related to tax withholding for share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.88M	USD	1 Quarter
Proceeds from issuance of ESPP shares	`ProceedsFromStockPlans`	$173.00K	USD	1 Quarter
Proceeds from issuance of ESPP shares	`ProceedsFromStockPlans`	$217.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-59.88M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.41M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-1.00M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$406.00K	USD	1 Quarter
Net decrease in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-20.94M	USD	1 Quarter
Net decrease in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-24.45M	USD	1 Quarter
Balance, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$327.13M	USD	Point-in-time
Balance, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$302.68M	USD	Point-in-time
Balance, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$291.32M	USD	Point-in-time
Balance, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$270.38M	USD	Point-in-time
Balance, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$327.13M	USD	Point-in-time
Balance, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$302.68M	USD	Point-in-time
Balance, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$291.32M	USD	Point-in-time
Balance, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$270.38M	USD	Point-in-time

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning of period	`StockholdersEquity`	$1.71B	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$1.65B	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$1.59B	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$1.74B	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-42.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.88M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.61M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-13.15M	USD	1 Quarter
Accretion of redeemable noncontrolling interests	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$241.00K	USD	1 Quarter
Activity in company stock plans, net and other	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-1.18M	USD	1 Quarter
Activity in company stock plans, net and other	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-1.60M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.84M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.63M	USD	1 Quarter
Balance, end of period	`StockholdersEquity`	$1.71B	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$1.65B	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$1.59B	USD	Point-in-time
Balance, end of period	`StockholdersEquity`	$1.74B	USD	Point-in-time
Balance, beginning of period	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$3.85M	USD	Point-in-time
Balance, beginning of period	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$3.96M	USD	Point-in-time
Net loss	`TemporaryEquityNetIncome`	$-172.00K	USD	1 Quarter
Foreign currency translation adjustments related to redeemable noncontrolling interests	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$36.00K	USD	1 Quarter
Accretion of redeemable noncontrolling interests	`TemporaryEquityAccretionToRedemptionValue`	$241.00K	USD	1 Quarter
Balance, end of period	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$3.85M	USD	Point-in-time
Balance, end of period	`TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests`	$3.96M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-42.03M	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.05M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.61M	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-13.15M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$4.61M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-13.15M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-55.18M	USD	1 Quarter
Net loss	`NetIncomeLossAttributableToRedeemableNoncontrollingInterest`	$-172.00K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest`	$36.00K	USD	1 Quarter
Comprehensive loss attributable to redeemable noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-136.00K	USD	1 Quarter
Comprehensive income (loss) attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$1.70M	USD	1 Quarter
Comprehensive income (loss) attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$-55.18M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.