Debt Arrangements (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The Company’s debt obligations consist of the following:

	March 31, 2020			December 31, 2019
Senior Secured Notes	$	330,551		$	338,130
Variable Funding Note, net of original issue discount		100,000			99,610
Senior Secured Term Loan, net of original issue discount		158,892			162,418
5.75% Convertible Notes (1)		46,485			47,277
Unamortized debt issuance costs		(941	)		(1,714	)
Total debt		634,987			645,721
Less current maturities		32,255			61,976
Total long-term debt	$	602,732		$	583,745

⁽¹⁾ Reflects the debt carrying amount which is accounted for under the Fair Value Option in the condensed consolidated balance sheet as of March 31, 2020 and December 31, 2019.  The actual principal outstanding balance of the 5.75% Convertible Notes is $94.4 million and $94.4 million as of March 31, 2020 and December 31, 2019, respectively.

Company's Debt Maturities on Calendar Year Basis

As of March 31, 2020, the Company’s debt maturities on a calendar year basis are as follows:

	Total		April 1 through December 31, 2020		2021		2022		2023		2024		Thereafter
Senior Secured Notes (1)	$	330,551	$	9,808	$	12,032	$	10,651	$	10,651	$	10,651	$	276,758
Variable Funding Notes	$	100,000		—		—		—		—		—		100,000
Senior Secured Term Loan (2)	$	158,892		14,463		19,284		19,284		105,861		—		—
5.75% Convertible Notes (3)	$	46,485		—		—		—		46,485		—		—
Total	$	635,928	$	24,271	$	31,316	$	29,935	$	162,997	$	10,651	$	376,758

⁽¹⁾          The legal final maturity of the Securitization Notes is in January of 2043. As the Company did not repay or refinance the Securitization Notes prior to the anticipated repayment date, beginning January 2020, the Company is no longer be required to make previously designated contractual principal payments. Future principal payments will be formulaically based on a percentage of receipts of royalty revenue, and as such are subject market factors outside of the Company’s control. There can be no assurance that all or any future principal payments projected for the Senior Secured Notes will be made in accordance with the projections provided.

⁽²⁾ Reflects the net debt carrying amount, effected by the outstanding balance of the original issue discount, in the condensed consolidated balance sheet as of March 31, 2020.  The actual principal outstanding balance of the Senior Secured Term Loan is $170.8 million as of March 31, 2020.  

⁽³⁾ Reflects the debt carrying amount which is accounted for under the Fair Value Option in the condensed consolidated balance sheet as of March 31, 2020.  The actual principal outstanding balance of the 5.75% Convertible Notes is $94.4 million as of March 31, 2020.