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Debt (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of outstanding debt obligations and interest expense related to convertible debt
Outstanding debt obligations as of March 31, 2022 were as follows (in thousands):
MaturitiesInterest Rates as of March 31, 2022March 31, 2022December 31, 2021
Convertible senior notes (1)
May 20251.50%$738,439 $604,317 
Non-revolving Loan2022 - 2025
2.60% - 5.25%
66,106 75,680 
Master Vehicle Loan2022 - 2025
2.60% - 6.75%
38,780 31,440 
Total long-term debt, including current maturities$843,325 $711,437 
Less: long-term debt maturing within one year55,921 56,264 
Total long-term debt$787,404 $655,173 
_______________
(1)     The Company adopted ASC 2020-06 on January 1, 2022 using the modified retrospective approach, which resulted in a $133.5 million increase to the carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs at the time of adoption.
The following table sets forth the primary components of interest expense as reported on the condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20222021
Contractual interest expense related to the 2025 Notes$2,803 $2,803 
Amortization of debt discount and issuance costs (1)
653 8,471 
Interest expense related to vehicle loans1,093 1,294 
Interest expense$4,549 $12,568 
_______________
(1)     Following the adoption of ASC 2020-06 on January 1, 2022 using the modified retrospective approach, the debt discount associated with the equity component on convertible debt outstanding is now classified as debt, which results in a decrease in the amount of interest expense being recorded each period from January 1, 2022 to maturity.
Schedule of convertible notes
The net carrying amounts of the liability component of the 2025 Notes were as follows (in thousands):
March 31, 2022December 31, 2021
Principal$747,498 $747,498 
Unamortized debt discount and debt issuance costs (1)
(9,059)(143,181)
Net carrying amount of liability component$738,439 $604,317 
_______________
(1)     The Company adopted ASC 2020-06 on January 1, 2022 using the modified retrospective approach, which resulted in a $133.5 million increase to the carrying value of the convertible senior notes to reflect the full principal amount of the convertible senior notes outstanding net of issuance costs at the time of adoption.
Schedule of maturities of long-term debt outstanding Maturities of long-term debt outstanding, including current maturities, as of March 31, 2022 were as follows (in thousands):
Remainder of 2022$46,556 
202330,889 
202424,052 
2025741,828 
2026— 
Thereafter— 
Total long-term debt outstanding$843,325