Financial Commitments (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt as reported on the Consolidated Balance Sheets consisted of the following:

	As of December 31,
(in thousands)	2020		2019
2017 Senior Notes	$	495,271	$	494,365
Term Loan B	408,458		N/A
2020 Revolver	—		N/A
2017 Credit Facility	N/A		114,000
Convertible Notes(a)	67,878		182,292
Equipment financing and mortgages	47,594		39,159
Other indebtedness	6,264		4,660
Total debt	1,025,465		834,476
Less: Current maturities	100,188		124,054
Long-term debt, net	$	925,277	$	710,422

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(a)The Company will repurchase or retire the remaining Convertible Notes at or before their June 15, 2021 maturity using proceeds from the Term Loan B, $69.9 million of which is currently held in a restricted cash account for this purpose.

Reconciliation Of Outstanding Debt Balance To Reported Debt Balance

The following table reconciles the outstanding debt balances to the reported debt balances as of December 31, 2020 and 2019:

	As of December 31, 2020						As of December 31, 2019
(in thousands)	Outstanding Debt		Unamortized Discounts and Issuance Costs		Debt, as reported		Outstanding Debt		Unamortized Discount and Issuance Costs		Debt, as reported
2017 Senior Notes	$	500,000	$	(4,729)	$	495,271	$	500,000	$	(5,635)	$	494,365
Term Loan B	423,938		(15,480)		408,458		N/A		N/A		N/A
Convertible Notes	69,918		(2,040)		67,878		200,000		(17,708)		182,292

Summary Of Information Related To The Liability And Equity Components Of The Convertible Notes

The following table presents information related to the liability and equity components of the Convertible Notes:

(in thousands)	December 31, 2020		December 31, 2019
Liability component:
Principal	$	69,918	$	200,000
Conversion feature	(46,800)		(46,800)
Allocated debt issuance costs	(5,051)		(5,051)
Amortization and extinguishment of discount and debt issuance costs (non-cash interest expense)	49,811		34,143
Net carrying amount	$	67,878	$	182,292
Equity component:
Conversion feature	$	46,800	$	46,800
Reacquisition of conversion option from repurchase of notes, net of tax	(764)		—
Allocated debt issuance costs	(1,543)		(1,543)
Deferred taxes	(18,815)		(18,815)
Net carrying amount	$	25,678	$	26,442

Principal Payments of Long-Term Debt

The following table presents the future principal payments required under all of the Company’s debt obligations, discussed above:

Year (in thousands)
2021	$	102,228
2022	14,822
2023	14,282
2024	7,498
2025	506,156
Thereafter	402,728
	1,047,714
Less: Unamortized discount and issuance costs	22,249
Total	$	1,025,465

Summary Of Interest Expense As Reported In The Consolidated Statements of Operations

Interest expense as reported in the Consolidated Statements of Operations consisted of the following:

	For the year ended December 31,
(in thousands)	2020		2019		2018
Cash interest expense:
Interest on 2017 Senior Notes	$	34,375	$	34,375	$	34,375
Interest on Term Loan B	9,028		N/A		N/A
Interest on 2020 Revolver	77		N/A		N/A
Interest on 2017 Credit Facility	5,341		11,990		8,575
Interest on Convertible Notes	4,373		5,750		5,750
Other interest	2,079		2,172		2,747
Cash portion of loss on extinguishment	786		—		—
Total cash interest expense	56,059		54,287		51,447
Non-cash interest expense(a):
Amortization of discount and debt issuance costs on Convertible Notes	8,944		10,811		9,846
Amortization of discount and debt issuance costs on Term Loan B	784		N/A		N/A
Amortization of debt issuance costs on 2020 Revolver	206		N/A		N/A
Amortization of debt issuance costs on 2017 Credit Facility	1,001		1,552		1,439
Amortization of debt issuance costs on 2017 Senior Notes	906		844		787
Non-cash portion of loss on extinguishment	8,312		—		—
Total non-cash interest expense	20,153		13,207		12,072
Total interest expense	$	76,212	$	67,494	$	63,519

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(a)The combination of cash and non-cash interest expense produces effective interest rates that are higher than contractual rates. Accordingly, the effective interest rates for the 2017 Senior Notes, Term Loan B and the Convertible Notes were 7.13%, 6.49% and 9.39%, respectively, for the year ended December 31, 2020