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Debt (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Net Carrying Amount of Liability and Equity Components of Notes

The net carrying amount of the liability and equity components of the 2026 Notes and 2024 Notes as of March 31, 2022 were as follows (in millions):


	2024 Notes			2026 Notes			Total
Liability component:
Principal	$	690.0		$	874.5		$	1,564.5
Unamortized transaction costs		(8.2	)		(14.2	)		(22.4	)
Net carrying amount	$	681.8		$	860.3		$	1,542.1

The net carrying amount of the liability and equity components of the 2026 Notes and 2024 Notes as of December 31, 2021 were as follows (in millions):


	2024 Notes			2026 Notes			Total
Liability component:
Principal	$	690.0		$	874.5		$	1,564.5
Unamortized debt discount		(60.5	)		(140.6	)		(201.1	)
Unamortized transaction costs		(7.6	)		(12.0	)		(19.6	)
Net carrying amount	$	621.9		$	721.9		$	1,343.8

Equity component, net of transaction costs	$	114.9		$	163.7		$	278.6

Schedule of Interest Expense Recognized Related to Notes

Interest expense recognized related to the 2026 Notes and 2024 Notes was as follows (in millions):

	Three Months Ended March 31,
	2022		2021
Contractual interest expense	$	0.4	$	0.4
Amortization of debt discount		—		12.0
Amortization of transaction costs		1.6		1.2
Total	$	2.0	$	13.6

- 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.

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+ Details