Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt

Schedule of debt

Our debt consisted of:

	March 31,			December 31,
(In thousands)	2022			2021
2023 Notes	$	96,207		$	240,984
2025 Notes		192,500			192,500
2028 Notes		261,000			—
Total debt		549,707			433,484
Less: Unamortized debt discount and issuance costs		(10,960	)		(38,831	)
Total debt, net	$	538,747		$	394,653
Less: Current portion of long-term debt, net		96,016			—
Total long-term debt, net	$	442,731		$	394,653

Aggregate scheduled maturities of convertible debt

Debt Maturities

The aggregate scheduled maturities of our convertible debt as of March 31, 2022 were as follows:

(In thousands)
Years ending December 31:
Remainder of 2022	$	—
2023		96,207
2024		—
2025		192,500
2026		—
Thereafter		261,000
Total	$	549,707

2023 Notes

Debt

Summary of liability and equity components of convertible notes

Our outstanding 2023 Notes balances consisted of the following:

	March 31,			December 31,
(In thousands)	2022			2021
Liability component
Principal	$	96,207		$	240,984
Debt issuance costs, net		(191	)		(620	)
Net carrying amount	$	96,016		$	240,364

Schedule of components of interest expense

The following table sets forth total interest expense recognized related to the 2023 Notes for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(In thousands)	2022		2021
Contractual interest expense	$	1,084	$	1,280
Amortization of debt issuance costs		122		141
Total interest and amortization expense	$	1,206	$	1,421

2025 Notes

Debt

Summary of liability and equity components of convertible notes

Our outstanding 2025 Notes balances consisted of the following:

	March 31,			December 31,
(In thousands)	2022			2021
Liability component
Principal	$	192,500		$	192,500
Debt discount and issuance costs, net		(2,437	)		(38,211	)
Net carrying amount	$	190,063		$	154,289
Equity component, net	$	—		$	65,361

Schedule of components of interest expense

The following table sets forth total interest expense recognized related to the 2025 Notes for the three months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
(In thousands)	2022		2021
Contractual interest expense	$	1,203	$	1,203
Amortization of debt issuance costs		171		159
Amortization of debt discount		—		1,911
Total interest and amortization expense	$	1,374	$	3,273

2028 Notes

Debt

Summary of liability and equity components of convertible notes

Our outstanding 2028 Notes balance as of March 31, 2022 consisted of the following:

(In thousands)
Liability component
Principal	$	261,000
Debt issuance costs, net		(8,332	)
Net carrying amount	$	252,668

Schedule of components of interest expense

The following table sets forth total interest expense recognized related to the 2028 Notes from the date of issuance through March 31, 2022:

(In thousands)
Contractual interest expense	$	346
Amortization of debt issuance costs		84
Total interest and amortization expense	$	430