Borrowings (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Summary of Borrowings under Credit Agreement

The following table summarizes the total borrowings under the Amended Credit Agreement and 2026 Notes:

($ in thousands)	June 30, 2023		December 31, 2022
Non-current indebtedness:
Revolving Credit Facility (1)	$	—	$	20,000
Convertible Senior Debt		440,000		440,000
Total borrowings		440,000		460,000
Less: Long-term loan debt issuance cost (2)		7,258		8,681
Total non-current borrowings	$	432,742	$	451,319

(1)The revolving credit facility bears interest at a variable rate, which was 6.63% as of December 31, 2022.

(2)The Company incurred $0.7 million and $1.4 million of interest expense for the amortization of deferred debt issuance costs for the three and six months ended June 30, 2023, respectively. The Company incurred $2.8 million of interest expense for the amortization of deferred debt issuance costs for the year ended December 31, 2022.

Summary of Principal Maturities of Long-term Debt

The following is a summary of principal maturities of long‑term debt for each of the next five years ending December 31 and in the aggregate:

($ in thousands)
2023	$	—
2024		—
2025		—
2026		440,000
2027		—
	$	440,000