Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Summary of Components of Debt Obligations

The table below summarizes the components of the Company’s debt:

	December 31,
	2022		2021
2023 Convertible Notes	$	316,219	$	316,245
Total debt	316,219		316,245
Less: deferred debt discount (1)	—		(16,724)
Less: deferred debt issuance costs	(1,047)		(2,363)
Long-term debt, net (1) (2)	$	315,172	$	297,158
Additional paid-in capital	$	—	$	35,304
Discount attribution to equity	—		(1,175)
Equity component, net (1)	$	—	$	34,129

(1)Pursuant to the adoption of ASU 2020-06, we derecognized the conversion option of $34.1 million, net of tax, previously attributable to the equity component of the 2023 Convertible Notes. Similarly, the related debt discount is no longer amortized into income as interest expense over the life of the instrument; therefore, we recorded a $16.4 million increase to “Long-term debt, net” on the Consolidated Balance Sheet as of December 31, 2022.

(2)There were no current portions of long-term debt as of December 31, 2022 and 2021. The 2023 Convertible Notes due on August 15, 2023 are classified as long-term debt as of December 31, 2022 because we have the ability and intent to refinance them on a long-term basis under our Credit Facility, which matures on November 21, 2027.