Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Instrument [Line Items]

Schedule of Debt

The net carrying value of the Company’s long-term debt (in thousands) consisted of the following, as of:

	September 30, 2022		December 31, 2021
2025 Convertible Notes	$	640,133	$	637,882
2027 Convertible Notes		1,032,272		1,029,263
2028 Secured Notes		489,152		488,006
2025 Secured Term Loan		204,654		0
Other long-term secured debt		10,724		0
Total	$	2,376,935	$	2,155,151

Schedule of Net Carrying Amount of Liability and Equity Component of Convertible Senior Notes

The following is a summary of the Company’s convertible debt instruments as of September 30, 2022 (in thousands):

	Outstanding		Unamortized			Net Carrying		Fair Value
	Principal Amount		Issuance Costs			Value		Amount		Leveling
2025 Convertible Notes	$	650,000	$	(9,867	)	$	640,133	$	485,141	Level 2
2027 Convertible Notes		1,050,000		(17,728	)		1,032,272		480,648	Level 2
Total	$	1,700,000	$	(27,595	)	$	1,672,405	$	965,789

The following is a summary of the Company’s convertible debt instruments as of December 31, 2021 (in thousands):

	Outstanding		Unamortized			Net Carrying		Fair Value
	Principal Amount		Issuance Costs			Value		Amount		Leveling
2025 Convertible Notes	$	650,000	$	(12,118	)	$	637,882	$	1,056,679	Level 2
2027 Convertible Notes		1,050,000		(20,737	)		1,029,263		774,375	Level 2
Total	$	1,700,000	$	(32,855	)	$	1,667,145	$	1,831,054

Schedule of Maturities of Debt Instruments

Maturities

The following table shows the maturities of the Company’s debt instruments as of September 30, 2022 (in thousands). The principal payments related to the 2028 Secured Notes are included in the table below based on the First Springing Maturity Date of September 15, 2025, as if the springing maturity feature discussed above were triggered. The Company’s expectation is that the springing maturity feature of the 2028 Secured Notes will not be triggered.

Payments due by period ended September 30,	2025 Convertible Notes		2027 Convertible Notes		2028 Secured Notes		2025 Secured Term Loan		Other long-term secured debt		Total
2023	$	0	$	0	$	0	$	0	$	506	$	506
2024		0		0		0		0		532		532
2025		0		0		500,000		205,000		562		705,562
2026		650,000		0		0		0		592		650,592
2027		0		1,050,000		0		0		8,787		1,058,787
Thereafter		0		0		0		0		0		0
Total	$	650,000	$	1,050,000	$	500,000	$	205,000	$	10,979	$	2,415,979

Secured Notes Due Twenty Twenty Eight

Debt Instrument [Line Items]

Schedule of Debt

The following is a summary of the 2028 Secured Notes as of September 30, 2022 (in thousands):

	Outstanding		Unamortized			Net Carrying		Fair Value
	Principal Amount		Issuance Costs			Value		Amount		Leveling
2028 Secured Notes	$	500,000	$	(10,848	)	$	489,152	$	413,295	Level 2

The following is a summary of the 2028 Secured Notes as of December 31, 2021 (in thousands):

	Outstanding		Unamortized			Net Carrying		Fair Value
	Principal Amount		Issuance Costs			Value		Amount		Leveling
2028 Secured Notes	$	500,000	$	(11,994	)	$	488,006	$	502,530	Level 2

Schedule of Interest Expense Related to Notes

For the three months ended September 30, 2022 and 2021, interest expense related to the 2028 Secured Notes was as follows (in thousands):

	Three Months Ended September 30, 2022						Three Months Ended September 30, 2021
	Contractual		Amortization of				Contractual		Amortization of
	Interest Expense		Issuance Costs		Total		Interest Expense		Issuance Costs		Total
2028 Secured Notes	$	7,657	$	388	$	8,045	$	7,656	$	363	$	8,019

For the nine months ended September 30, 2022 and 2021, interest expense related to the 2028 Secured Notes was as follows (in thousands):

	Nine Months Ended September 30, 2022						Nine Months Ended September 30, 2021
	Contractual		Amortization of				Contractual		Amortization of
	Interest Expense		Issuance Costs		Total		Interest Expense		Issuance Costs		Total
2028 Secured Notes	$	22,969	$	1,146	$	24,115	$	9,017	$	428	$	9,445

Term Loan Due Twenty Twenty Five

Debt Instrument [Line Items]

Schedule of Debt

The following is a summary of the 2025 Secured Term Loan as of September 30, 2022 (in thousands):

	Outstanding		Unamortized			Net Carrying		Fair Value
	Principal Amount		Issuance Costs			Value		Amount		Leveling
2025 Secured Term Loan	$	205,000	$	(346	)	$	204,654	$	205,000	Level 3

Schedule of Interest Expense Related to Notes

For the three and nine months ended September 30, 2022, interest expense related to the 2025 Secured Term Loan was as follows (in thousands):

	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
	Contractual		Amortization of				Contractual		Amortization of
	Interest Expense		Issuance Costs		Total		Interest Expense		Issuance Costs		Total
2025 Secured Term Loan	$	2,931	$	33	$	2,964	$	5,314	$	69	$	5,383

Convertible Debt

Debt Instrument [Line Items]

Schedule of Interest Expense Related to Notes

For the three months ended September 30, 2022 and 2021, interest expense related to the Convertible Notes was as follows (in thousands):

	Three Months Ended September 30, 2022						Three Months Ended September 30, 2021
	Contractual		Amortization of				Contractual		Amortization of
	Interest Expense		Issuance Costs		Total		Interest Expense		Issuance Costs		Total
2025 Convertible Notes	$	1,218	$	753	$	1,971	$	1,218	$	744	$	1,962
2027 Convertible Notes		0		1,004		1,004		0		1,000		1,000
Total	$	1,218	$	1,757	$	2,975	$	1,218	$	1,744	$	2,962

For the nine months ended September 30, 2022 and 2021, interest expense related to the Convertible Notes was as follows (in thousands):

	Nine Months Ended September 30, 2022						Nine Months Ended September 30, 2021
	Contractual		Amortization of				Contractual		Amortization of
	Interest Expense		Issuance Costs		Total		Interest Expense		Issuance Costs		Total
2025 Convertible Notes	$	3,656	$	2,251	$	5,907	$	3,656	$	2,224	$	5,880
2027 Convertible Notes		0		3,009		3,009		0		2,432		2,432
Total	$	3,656	$	5,260	$	8,916	$	3,656	$	4,656	$	8,312