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DEBT AND FINANCING ARRANGEMENTS (Tables)
12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
Our debt consists of the following (in thousands):
December 31,
20202021
Convertible senior notes, net$174,011 $184,398 
Convertible Debt
The net carrying amount of the liability component of the Notes is as follows (in thousands):

December 31,
20202021
Principal$230,000 $230,000 
Minus: Unamortized debt discount(50,610)(41,098)
Minus: Unamortized issuance costs(5,379)(4,504)
Net carrying amount of the liability component$174,011 $184,398 


The net carrying amount of the equity component of the Notes is as follows (in thousands):

December 31,
20202021
Proceeds allocated to the conversion options (debt discount)$53,096 $53,096 
Minus: Issuance costs(1,680)(1,680)
Net carrying amount of the equity component$51,416 $51,416 

Interest expense recognized related to the Notes is as follows (in thousands):
December 31,
20202021
Contractual interest expense (due in cash)$626 $2,300 
Amortization of debt discount2,486 9,513 
Amortization of debt issuance costs217 874 
Total interest expense related to the Notes$3,329 $12,687 
Effective interest rate5.32 %5.52 %
Schedule of maturities of debt and capital lease
Aggregate future payments of principal due upon maturity are as follows (in thousands):
Years Ending December 31,Convertible Senior Notes
2022$— 
2023— 
2024— 
2025230,000 
Total debt$230,000