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)

6 Months Ended

Jun. 30, 2022

Schedule of components of lease expense


		Three Months Ended June 30,						Six Months Ended June 30,
Lease Cost/(Sublease Income) (in thousands)		2022			2021			2022			2021
Operating lease cost		$	573		$	538		$	1,119		$	1,092
Short-term lease cost			1,611			813			3,228			1,433
Sublease income			(15)			-			(30)			-
Total lease cost		$	2,169		$	1,351		$	4,317		$	2,525

Schedule of right-of use assets and lease liabilities


Lease Assets/Liabilities (in thousands)		Balance Sheet Classification		June 30, 2022			December 31, 2021
Lease Assets
Right-of-use assets		Other long-term assets		$	3,379		$	1,527

Lease Liabilities
Short-term lease liabilities		Other current liabilities		$	1,467		$	1,606
Long-term lease liabilities		Other long-term liabilities			2,379			511
Total lease liabilities				$	3,846		$	2,117

Schedule of supplemental information


			Six Months Ended June 30,
(dollars in thousands)		2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used by operating leases		$	1,211		$	1,154
Right-of-use assets obtained in exchange for new operating lease liabilities			2,854			737
Weighted-average remaining lease term - operating leases			5.70 years			1.38 years
Weighted-average remaining lease term - finance leases			1.73 years			2.73 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

Six Months Ended June 30,		(in thousands)
Remainder of 2022		$	1,013		$	3
2023			905			6
2024			495			1
2025			375			-
2026			381			-
Thereafter			1,873			-
Total lease payments		$	5,042		$	10
Less: interest			(1,206)			-
Present value of lease liabilities		$	3,836		$	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

Six Months Ended June 30,		(in thousands)
Remainder of 2022		$	1,013		$	3
2023			905			6
2024			495			1
2025			375			-
2026			381			-
Thereafter			1,873			-
Total lease payments		$	5,042		$	10
Less: interest			(1,206)			-
Present value of lease liabilities		$	3,836		$	10