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Convertible Senior Notes (Tables)
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Summary of Convertible Notes
The following table presents details of the Company's convertible senior notes, which are further discussed below (original principal in thousands):
Month Issued
Maturity Date (1)
Original Principal
Interest Rate per Annum
Conversion Rate for Each $1,000 Principal (2)
Initial Conversion Price per Share
2023 Notes
February 15, 2018
February 15, 2023
$230,000 0.75 %$17.4292 $57.38 
2026 Notes
June 1, 2019
June 1, 2026
$316,250 0.75 %$11.2851 $88.61 
2025 NotesNovember 15, 2020November 15, 2025$350,000 0.125 %$7.1355 $140.14 
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(1) Unless earlier converted or repurchased in accordance with their terms prior to such date
(2) Subject to adjustment upon the occurrence of certain specified events
The 2023 Notes, 2026 Notes and 2025 Notes consist of the following:
As of June 30, 2022As of December 31, 2021
2023 Notes2026 Notes2025 Notes2023 Notes2026 Notes2025 Notes
Liability component:
Principal$10,908 $316,250 $350,000 $10,908 $316,250 $350,000 
Unamortized debt discount (1)
— — — (634)(56,918)(59,436)
Unamortized debt issuance costs (1)
(37)(5,214)(4,567)(64)(4,276)(4,232)
Net carrying amount10,871 311,036 345,433 10,210 255,056 286,332 
Equity component:
Net carrying amount (1)
$— $— $— $2,321 $81,550 $73,109 
____________________________________________________________________________
(1) See Note 2, "Summary of Significant Accounting Policies" for more information regarding the effect of adoption of ASU 2020-06
Summary of Interest Expense
The following table sets forth total interest expense recognized related to the 2023, 2026 and 2025 Notes:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Contractual interest expense$722 $764 $1,446 $1,556 
Amortization of debt issuance costs (1)
691 540 1,367 1,045 
Amortization of debt discount (1)
— 6,553 — 13,054 
Total$1,413 $7,857 $2,813 $15,655 
____________________________________________________________________________
(1) See Note 2, "Summary of Significant Accounting Policies" for more information regarding the effect of adoption of ASU 2020-06