Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of maturities of long-term debt outstanding

Scheduled maturities of our long-term debt outstanding as of September 30, 2020 are as follows (in thousands):


	Term Loan ⁽¹⁾		2022 Notes		2023 Notes		2026 Notes		MARAD Debt		Nordea Q5000 Loan		Total

Less than one year	$	3,500	$	—	$	—	$	—	$	7,560	$	62,500	$	73,560
One to two years	27,125		35,000		—		—		7,937		—		70,062
Two to three years	—		—		30,000		—		8,333		—		38,333
Three to four years	—		—		—		—		8,749		—		8,749
Four to five years	—		—		—		—		9,186		—		9,186
Over five years	—		—		—		200,000		14,645		—		214,645
Gross debt	30,625		35,000		30,000		200,000		56,410		62,500		414,535
Unamortized debt discounts ⁽²⁾	—		(1,560)		(2,869)		(43,133)		—		—		(47,562)
Unamortized debt issuance costs ⁽³⁾	(239)		(235)		(462)		(5,761)		(3,171)		(159)		(10,027)
Total debt	30,386		33,205		26,669		151,106		53,239		62,341		356,946
Less: current maturities	(3,500)		—		—		—		(7,560)		(62,341)		(73,401)
Long-term debt	$	26,886	$	33,205	$	26,669	$	151,106	$	45,679	$	—	$	283,545

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

(2) Convertible Senior Notes due 2022, 2023 and 2026 will increase to their face amounts through accretion of their debt discounts to interest expense through May 2022, September 2023 and February 2026, 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,
	2020		2019		2020		2019

Interest expense	$	8,007	$	7,694	$	22,580	$	23,635
Interest income	(409)		(652)		(991)		(2,085)
Capitalized interest	—		(5,141)		(1,182)		(15,346)
Net interest expense	$	7,598	$	1,901	$	20,407	$	6,204