Convertible Notes, Net (Tables)

3 Months Ended

Mar. 31, 2023

Debt Instruments [Abstract]

Summary of Outstanding Convertible Senior Notes

As of March 31, 2023, the following convertible senior notes, or Convertible Notes, were outstanding ($ in thousands):

Convertible Notes Issuance	Face Value		Interest Rate	All-in Cost(1)	Conversion Price(2)	Maturity
March 2022	$	300,000	5.50%	5.94%	$36.27	March 15, 2027

(1)Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the effective interest method.

(2)Represents the price of class A common stock per share based on a conversion rate of 27.5702 for the March 2022 convertible notes. The conversion rate represents the number of shares of class A common stock issuable per $1,000 principal amount of Convertible Notes. The cumulative dividend threshold as defined in the March 2022 convertible notes supplemental indenture has not been exceeded as of March 31, 2023.

Summary of Details of Net Book Value of Convertible Note

The following table details the net book value of our Term Loans on our consolidated balance sheets ($ in thousands):

	March 31, 2023		December 31, 2022
Face value	$	2,151,719	$	2,157,218
Deferred financing costs and unamortized discount	(40,487)		(42,669)
Net book value	$	2,111,232	$	2,114,549

The following table details the net book value of our Convertible Notes on our consolidated balance sheets ($ in thousands):

	March 31, 2023		December 31, 2022
Face value	$	300,000	$	520,000
Deferred financing costs and unamortized discount	(5,112)		(5,743)
Net book value	$	294,888	$	514,257

Summary of Details about Interest Expense

The following table details our interest expense related to the Convertible Notes ($ in thousands):

	Three Months Ended March 31,
	2023		2022
Cash coupon	$	6,264	$	7,252
Discount and issuance cost amortization	631		788
Total interest expense	$	6,895	$	8,040