Long-term debt, net (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Long-term Debt, Net

The following table sets forth the Company’s long-term debt, net:

	December 31,
	2021		2020
0% Convertible Senior Notes (a)	$	562,216	$	429,905
Credit facility (b)	—		—
	$	562,216	$	429,905

Summary of the Convertible Notes

The net carrying amount of the liability and equity components of the Convertible Notes (see note 2(z) for additional information) as of December 31, 2021 and 2020 are as follows:

	December 31,
	2021		2020
Liability component, net:
Principal amount	$	575,000	$	575,000
Unamortized discount	—		(132,797)
Unamortized issuance costs	(12,784)		(12,298)
Net carrying amount of liability component (1)	$	562,216	$	429,905
Equity component, net:
Conversion feature	$	—	$	136,402
Issuance costs	$	—	(3,928)
Net carrying amount of equity component	$	—	$	132,474

(1) An effective interest rate determines the fair value of the Notes, therefore they are categorized as Level 3 in accordance with ASC 820, "Fair Value Measurements and Disclosures." The estimated fair value of the Net carrying amount of liability component of the Notes as of December 31, 2021 and 2020 were $467,469 and $450,437, respectively.

Finance expense related to the Notes were as follows:

	Year ended December 31,
	2021		2020
Amortization of debt issuance costs	$	3,339	$	333
Amortization of debt discount	$	—	$	3,605
Total finance expense recognized	$	3,339	$	3,938