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)

9 Months Ended

Sep. 30, 2022

Schedule of components of lease expense


		Three Months Ended September 30,						Nine Months Ended September 30,
Lease Cost/(Sublease Income) (in thousands)		2022			2021			2022			2021
Operating lease cost		$	549		$	619		$	1,668		$	1,711
Short-term lease cost			2,125			1,051			5,353			2,484
Sublease income			(14)			(5)			(44)			(5)
Total lease cost		$	2,660		$	1,665		$	6,977		$	4,190

Schedule of right-of use assets and lease liabilities


Lease Assets/Liabilities (in thousands)		Balance Sheet Classification		September 30, 2022			December 31, 2021
Lease Assets
Right-of-use assets		Other long-term assets		$	3,738		$	1,527

Lease Liabilities
Short-term lease liabilities		Other current liabilities		$	1,572		$	1,606
Long-term lease liabilities		Other long-term liabilities			2,582			511
Total lease liabilities				$	4,154		$	2,117

Schedule of supplemental information


		Nine Months Ended September 30,
(dollars in thousands)		2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash used by operating leases		$	1,810		$	1,810
Right-of-use assets obtained in exchange for new operating lease liabilities			3,669			1,549
Weighted-average remaining lease term - operating leases			5.34 years			1.47 years
Weighted-average remaining lease term - finance leases			1.48 years			2.48 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

Nine Months Ended September 30,		(in thousands)
Remainder of 2022		$	557		$	1
2023			1,490			6
2024			653			1
2025			375			-
2026			381			-
Thereafter			1,873			-
Total lease payments		$	5,329		$	8
Less: interest			(1,183)			-
Present value of lease liabilities		$	4,146		$	8

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

Nine Months Ended September 30,		(in thousands)
Remainder of 2022		$	557		$	1
2023			1,490			6
2024			653			1
2025			375			-
2026			381			-
Thereafter			1,873			-
Total lease payments		$	5,329		$	8
Less: interest			(1,183)			-
Present value of lease liabilities		$	4,146		$	8