Financial Commitments (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt

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

(in thousands)	As of March 31, 2021		As of December 31, 2020
2017 Senior Notes	$	495,508	$	495,271
Term Loan B	407,889		408,458
2020 Revolver	—		—
Convertible Notes(a)	68,977		67,878
Equipment financing and mortgages	49,783		47,594
Other indebtedness	3,514		6,264
Total debt	1,025,671		1,025,465
Less: Current maturities	101,020		100,188
Long-term debt, net	$	924,651	$	925,277

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(a)The Company will repurchase or retire the remaining Convertible Notes at or before their June 15, 2021 maturity date 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 March 31, 2021 and December 31, 2020:

	As of March 31, 2021						As of December 31, 2020
(in thousands)	Outstanding Debt		Unamortized Discounts and Issuance Costs		Debt, as reported		Outstanding Debt		Unamortized Discounts and Issuance Costs		Debt, as reported
2017 Senior Notes	$	500,000	$	(4,492)	$	495,508	$	500,000	$	(4,729)	$	495,271
Term Loan B	422,875		(14,986)		407,889		423,938		(15,480)		408,458
Convertible Notes	69,918		(941)		68,977		69,918		(2,040)		67,878

Summary of Interest Expense as Reported in the Consolidated Statements of Operations

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

	Three Months Ended March 31,
(in thousands)	2021		2020
Cash interest expense:
Interest on 2017 Senior Notes	$	8,594	$	8,594
Interest on Term Loan B	6,094		N/A
Interest on 2020 Revolver	121		N/A
Interest on 2017 Credit Facility	N/A		2,415
Interest on Convertible Notes	503		1,437
Other interest	481		504
Total cash interest expense	15,793		12,950
Non-cash interest expense:(a)
Amortization of discount and debt issuance costs on Convertible Notes	1,099		2,864
Amortization of discount and debt issuance costs on Term Loan B	539		N/A
Amortization of debt issuance costs on 2020 Revolver	142		N/A
Amortization of debt issuance costs on 2017 Credit Facility	N/A		402
Amortization of debt issuance costs on 2017 Senior Notes	237		220
Total non-cash interest expense	2,017		3,486
Total interest expense	$	17,810	$	16,436

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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 three months ended March 31, 2021.