Long-term Debt, Net (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Long-term Debt, Net

The following table sets forth the Company’s long-term debt, net:

	December 31,
	2020		2019
0% Convertible Senior Notes (a)	$	429,905	$	—
Credit facility (b)	—		149,424
	$	429,905	$	149,424

Summary of the Convertible Notes

The net carrying amount of the liability and equity components of the Convertible Notes as of December 31, 2020 is as follows:

	December 31,
	2020
Liability component, net:
Principal amount	$	575,000
Unamortized discount	(132,797)
Unamortized issuance costs	(12,298)
Net carrying amount of liability component (1)	$	429,905
Equity component, net:
Conversion feature	$	136,401
Issuance costs	(3,928)
Net carrying amount of equity component	$	132,473

(1) An effective interest rate determines the fair value of the Notes, therefore they are categorized as Level 3 in accordance with ASC 820, "Fair Value Measurements and Disclosures." The estimated fair value of the Net carrying amount of liability component of the Notes as of December 31, 2020 was $450,437.

Finance expense related to the Convertible Notes was as follows:

	Year ended December 31,
	2020
Amortization of debt discount	$	3,604
Amortization of debt issuance costs	334
Total finance expense recognized	$	3,938