XML 39 R16.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Long-Term Debt
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Total convertible notes payable consisted of the following (in thousands):
March 31, 2024December 31, 2023
5.00% Convertible notes due 2027
$175,250 $175,250 
Unamortized debt issuance costs(6,818)(7,234)
Total convertible notes payable
$168,432 $168,016 
The effective interest rate of the 2027 Convertible notes is 6.2%. During the three months ended March 31, 2023, the Company repaid the outstanding principal amount of $325.0 million on its 3.75% Convertible notes due in 2023, together with accrued but unpaid interest on the maturity date.
The interest expense incurred in connection with the convertible notes payable consisted of the following (in thousands):
Three Months Ended
March 31,
20242023
Coupon interest $2,192 $3,206 
Amortization of debt issuance costs416 510 
Total interest expense on convertible notes payable$2,608 $3,716