Financial Commitments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021		As of December 31, 2020
2017 Senior Notes	$	495,749	$	495,271
Term Loan B	408,414		408,458
2020 Revolver	—		—
Convertible Notes(a)	—		67,878
Equipment financing and mortgages	48,781		47,594
Other indebtedness	17,300		6,264
Total debt	970,244		1,025,465
Less: Current maturities(a)	36,941		100,188
Long-term debt, net	$	933,303	$	925,277

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(a)The Company repaid the remaining principal balance of the Convertible Notes at maturity on June 15, 2021. As of December 31, 2020, the balance of the Convertible Notes was included in current maturities on the Condensed Consolidated Balance Sheet.

Reconciliation of Outstanding Debt Balance to Reported Debt Balance

The following table reconciles the outstanding debt balances to the reported debt balances as of June 30, 2021 and December 31, 2020:

	As of June 30, 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	$	(4,251)	$	495,749	$	500,000	$	(4,729)	$	495,271
Term Loan B	422,875		(14,461)		408,414		423,938		(15,480)		408,458
Convertible Notes	—		—		—		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 June 30,				Six Months Ended June 30,
(in thousands)	2021		2020		2021		2020
Cash interest expense:
Interest on 2017 Senior Notes	$	8,593	$	8,593	$	17,187	$	17,187
Interest on Term Loan B	6,115		N/A		12,209		N/A
Interest on 2020 Revolver	552		N/A		673		N/A
Interest on 2017 Credit Facility	N/A		2,338		N/A		4,753
Interest on Convertible Notes	418		1,438		921		2,875
Other interest	409		535		890		1,039
Total cash interest expense	16,087		12,904		31,880		25,854
Non-cash interest expense:(a)
Amortization of discount and debt issuance costs on Convertible Notes	941		2,933		2,040		5,797
Amortization of discount and debt issuance costs on Term Loan B	527		N/A		1,066		N/A
Amortization of debt issuance costs on 2020 Revolver	142		N/A		284		N/A
Amortization of debt issuance costs on 2017 Credit Facility	N/A		402		N/A		804
Amortization of debt issuance costs on 2017 Senior Notes	241		225		478		445
Total non-cash interest expense	1,851		3,560		3,868		7,046
Total interest expense	$	17,938	$	16,464	$	35,748	$	32,900

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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 six months ended June 30, 2021.