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FINANCING ARRANGEMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Notes
The carrying amount of the 2026 Notes consisted of the following as of September 30, 2024 and December 31, 2023 (in thousands):
September 30, 2024December 31, 2023
Principal amount$230,000 $230,000 
Less: debt discount(2,350)(3,530)
Net carrying amount of liability$227,650 $226,470 
Schedule of Interest Costs on Notes
During the three and nine months ended September 30, 2024 and 2023, we recognized interest costs on the 2026 Notes as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2024202320242023
Contractual interest$539 $647 $1,916 $1,941 
Amortization of debt discount395 388 1,180 1,158 
Total $934 $1,035 $3,096 $3,099 
Schedule of Amounts Committed to Outstanding Borrowings and Letters of Credit
Amounts committed to letters of credit and outstanding borrowings under the Cash Collateral Agreement and Credit Agreement, respectively, as of September 30, 2024 and December 31, 2023 were as follows (in thousands):
September 30, 2024December 31, 2023
Letters of credit(1)
$26,456 $25,200 
Borrowings
— 42,776 

(1) Pursuant to the Cash Collateral Agreement, cash collateral is required for all letters of credit and treated as restricted cash on the Condensed Consolidated Balance Sheets. See Note 4, Supplemental Condensed Consolidated Balance Sheets and Statements of Operations Information, for additional information.