Williams Industrial Services Group Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of components of lease expense


		Three Months Ended March 31,
Lease Cost/(Sublease Income) (in thousands)		2022			2021
Operating lease cost		$	546		$	555
Short-term lease cost			1,617			620
Sublease income			(15)			-
Total lease cost		$	2,148		$	1,175

Schedule of right-of use assets and lease liabilities


Lease Assets/Liabilities (in thousands)		Balance Sheet Classification		March 31, 2022			December 31, 2021
Lease Assets
Right-of-use assets		Other long-term assets		$	3,718		$	1,527

Lease Liabilities
Short-term lease liabilities		Other current liabilities		$	1,854		$	1,606
Long-term lease liabilities		Other long-term liabilities			2,348			511
Total lease liabilities				$	4,202		$	2,117

Schedule of supplemental information


			Three Months Ended March 31,
(dollars in thousands)		2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used by operating leases		$	651		$	578
Right-of-use assets obtained in exchange for new operating lease liabilities			2,678			491
Weighted-average remaining lease term - operating leases			5.47 years			1.80 years
Weighted-average remaining lease term - finance leases			1.98 years			3.23 years
Weighted-average discount rate - operating leases			9%			9%
Weighted-average discount rate - finance leases			9%			9%

Schedule of remaining lease payments under operating leases


		Operating Leases			Finance Leases

Three Months Ended March 31, 2022		(in thousands)
Remainder of 2022		$	1,735		$	4
2023			827			6
2024			479			-
2025			350			-
2026			348			-
Thereafter			1,589			-
Total lease payments		$	5,328		$	10
Less: interest			(1,136)			-
Present value of lease liabilities		$	4,192		$	10

Schedule of remaining lease payments under finance leases

Total remaining lease payments under the Company’s operating and finance leases were as follows:


		Operating Leases			Finance Leases

Three Months Ended March 31, 2022		(in thousands)
Remainder of 2022		$	1,735		$	4
2023			827			6
2024			479			-
2025			350			-
2026			348			-
Thereafter			1,589			-
Total lease payments		$	5,328		$	10
Less: interest			(1,136)			-
Present value of lease liabilities		$	4,192		$	10