INDEBTEDNESS (Tables)

12 Months Ended

Dec. 31, 2019

The following table summarizes the Company’s debt facilities for the periods indicated:

	As of December 31,
	2019			2018
	(in thousands)
Principal amount of the 2024 Notes	$	570,000		$	570,000
Unamortized discount - equity component		(120,182	)		(140,206	)
Unamortized discount - debt issuance costs		(7,922	)		(9,240	)
Net carrying value of 2024 Notes		441,896			420,554
Principal amount of the 2019 Term Loan		250,000			—
Unamortized discounts		(9,996	)		—
Net carrying value of 2019 Term Loan		240,004			—
Total carrying value of debt facilities		681,900			420,554
Fair value of 2024 Notes		1,141,288			952,681
Fair value of 2019 Term Loan		250,000			—
Total fair value of debt facilities	$	1,391,288		$	952,681

Summarizes Total Gross Payments Due under Company's Debt Arrangements

The following table summarizes the total gross payments due under the Company’s debt arrangements:

	As of December 31, 2019
	(in thousands)
2020	$	—
2021		—
2022		—
2023		250,000
2024		570,000
Thereafter		—
Total payments	$	820,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details