DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt

Schedule of debt

Our debt consists of:

	December 31,			December 31,
(In thousands)	2021			2020
2023 Notes	$	240,984		$	240,984
2025 Notes		192,500			192,500
Total debt		433,484			433,484
Unamortized debt discount and issuance costs		(38,831	)		(47,967	)
Net long-term debt	$	394,653		$	385,517

Summary of liability and equity components of convertible notes

Our outstanding 2025 Notes balances consisted of the following:

	December 31,			December 31,
(In thousands)	2021			2020
Liability component
Principal	$	192,500		$	192,500
Debt discount and issuance costs, net		(38,211	)		(46,766	)
Net carrying amount	$	154,289		$	145,734
Equity component, net	$	65,361		$	65,361

2025 Notes

Debt

Schedule of components of interest expense

The following table sets forth total interest expense recognized related to the 2025 Notes for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
(In thousands)	2021		2020		2019
Contractual interest expense	$	4,813	$	4,813	$	4,813
Amortization of debt issuance costs		657		601		551
Amortization of debt discount		7,898		7,230		6,618
Total interest and amortization expense	$	13,368	$	12,644	$	11,982

Aggregate scheduled maturities of long-term debt

The aggregate scheduled maturities of our long-term debt as of December 31, 2021 are as follows:

(In thousands)
Years ending December 31:
2022	$	—
2023		240,984
2024		—
2025		192,500
Total	$	433,484