Schedule of Net Carrying Amount of Liability and Equity Component of Notes |
The net carrying amount of the liability components of the 2026 and 2028 Convertible Notes were as follows: | | | | | | | | | | | | | | | | | As of December 31, | | | | 2020 | | 2021 | | | | | | | 2026 Convertible Notes: | | | (In thousands) | Principal | | | $ | 400,000 | | | $ | 400,000 | | Unamortized discount | | | (110,546) | | | (92,034) | | Unamortized debt issuance costs | | | (7,258) | | | (6,043) | | 2026 Convertible Notes net carrying amount | | | $ | 282,196 | | | $ | 301,923 | | | | | | | | 2028 Convertible Notes: | | | | | | Principal | | | $ | — | | | $ | 250,000 | | Unamortized discount | | | — | | | (60,488) | | Unamortized debt issuance costs | | | — | | | (4,995) | | 2028 Convertible Notes net carrying amount | | | $ | — | | | $ | 184,517 | | Total net carrying amount | | | $ | 282,196 | | | $ | 486,440 | |
The net carrying amount of the equity components of the 2026 and 2028 Convertible Notes were as follows: | | | | | | | | | | | | | | | | | | | As of December 31, | | | | | | 2020 | | 2021 | | | | | | | | | | | 2026 Convertible Notes: | | | (In thousands) | | | Proceeds allocated to the conversion options (debt discount) | | | $ | 125,152 | | | $ | 125,152 | | | | Issuance costs | | | (3,742) | | | (3,742) | | | | 2026 Convertible Notes net carrying amount | | | $ | 121,410 | | | $ | 121,410 | | | | | | | | | | | | 2028 Convertible Notes: | | | | | | | | Proceeds allocated to the conversion options (debt discount) | | | $ | — | | | $ | 66,908 | | | | Issuance costs | | | — | | | (2,019) | | | | 2028 Convertible Notes net carrying amount | | | $ | — | | | $ | 64,889 | | | | Total net carrying amount | | | $ | 121,410 | | | $ | 186,299 | | | |
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Schedule of Interest Income and Interest Expense Disclosure |
The following table sets forth the interest expense recognized related to the 2026 and 2028 Convertible Notes: | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | | | | | | | 2020 | | 2021 | | | | | | | | | | | 2026 Convertible Notes: | | | | | | | (In thousands) | Contractual interest expense | | | | | | | $ | 841 | | | $ | 1,000 | | Amortization of debt discount | | | | | | | 14,606 | | | 18,505 | | Amortization of debt issuance costs | | | | | | | 959 | | | 1,214 | | Total interest expense related to the 2026 Convertible Notes | | | | | | | $ | 16,406 | | | $ | 20,719 | | | | | | | | | | | | 2028 Convertible Notes: | | | | | | | | | | Contractual interest expense | | | | | | | $ | — | | | $ | 991 | | Amortization of debt discount | | | | | | | — | | | 6,419 | | Amortization of debt issuance costs | | | | | | | — | | | 532 | | Total interest expense related to the 2028 Convertible Notes | | | | | | | $ | — | | | $ | 7,942 | | Total interest expense | | | | | | | $ | 16,406 | | | $ | 28,661 | |
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