Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of maturities of long-term debt outstanding

Scheduled maturities of our long-term debt outstanding as of September 30, 2019 are as follows (in thousands):

	Term Loan (1)			2022 Notes			2023 Notes			MARAD Debt			Nordea Q5000 Loan			Total
Less than one year	$	3,500		$	—		$	—		$	7,200		$	98,214		$	108,914
One to two years	3,500			—			—			7,560			—			11,060
Two to three years	27,125			125,000			—			7,937			—			160,062
Three to four years	—			—			125,000			8,333			—			133,333
Four to five years	—			—			—			8,749			—			8,749
Over five years	—			—			—			23,831			—			23,831
Gross debt	34,125			125,000			125,000			63,610			98,214			445,949
Unamortized debt discounts (2)	—			(8,784		)	(15,376		)	—			—			(24,160		)
Unamortized debt issuance costs (3)	(438		)	(1,368		)	(2,478		)	(3,659		)	(446		)	(8,389		)
Total debt	33,687			114,848			107,146			59,951			97,768			413,400
Less: current maturities	(3,500		)	—			—			(7,200		)	(97,768		)	(108,468		)
Long-term debt	$	30,187		$	114,848		$	107,146		$	52,751		$	—		$	304,932

(1) Term Loan pursuant to the Credit Agreement (as defined below) matures in December 2021.

(2) Our Convertible Senior Notes due 2022 and 2023 will increase to their face amounts through accretion of their debt discounts to interest expense through May 2022 and September 2023, respectively.

(3)

Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.

Schedule of components of net interest expense

The following table details the components of our net interest expense (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Interest expense	$	7,694		$	8,171		$	23,635		$	24,511
Interest income	(652		)	(994		)	(2,085		)	(2,263		)
Capitalized interest	(5,141		)	(3,928		)	(15,346		)	(11,504		)
Net interest expense	$	1,901		$	3,249		$	6,204		$	10,744