Debt (Tables)

6 Months Ended

Jun. 30, 2022

Loan Agreement

Debt Instrument [Line Items]

Schedule of Loans Balances

The balances of our borrowing under the Amended Loan Agreement consisted of the following:

	June 30, 2022			December 31, 2021
	(in thousands)
Principal value of term loans	$	429,916		$	450,000
PIK added to principal		5,075			—
Debt discount, issuance costs and    exit fee accretion		(16,638	)		(19,248	)
Term loan, net	$	418,353		$	430,752

Schedule of Future Minimum Payments

Future minimum payments under the Amended Loan Agreement as of June 30, 2022 are as follows:

	Amount
	(in thousands)
Remainder of 2022	$	17,158
Year Ending December 31:
2023		39,896
2024		40,006
2025		40,006
2026		492,173
Total future payments		629,239
Less amounts representing interest		(185,650	)
Less exit fee		(8,598	)
Total principal amount of term loan payments, including PIK exercises	$	434,991

2027 and 2029 Notes

Debt Instrument [Line Items]

Schedule of Loans Balances

The outstanding Notes’ balances consisted of the following:

	June 30, 2022						December 31, 2021
	2029 Notes			2027 Notes			2029 Notes			2027 Notes
	(in thousands)						(in thousands)
Principal	$	747,500		$	550,000		$	747,500		$	550,000
Unamortized debt discount and issuance costs		(13,453	)		(9,221	)		(14,381	)		(10,066	)
Net carrying amount	$	734,047		$	540,779		$	733,119		$	539,934

Schedule of Total Interest Expense Recognized and Effective Interest Related to Notes

The following table sets forth the total interest expense recognized and effective interest rates related to the Notes for the periods presented:

	Three Months Ended June 30, 2022								Six Months Ended June 30, 2022
	2029 Notes			2027 Notes			Total		2029 Notes			2027 Notes			Total
	(in thousands)								(in thousands)
Contractual interest expense	$	4,204		$	3,437		$	7,641	$	8,409		$	6,875		$	15,284
Amortization of debt discount and issuance costs		466			424			890		929			844			1,773
Total interest and amortization expense	$	4,670		$	3,861		$	8,531	$	9,338		$	7,719		$	17,057
Effective interest rate		2.6	%		2.8	%				2.6	%		2.8	%

	Three Months Ended June 30, 2021								Six Months Ended June 30, 2021
	2029 Notes			2027 Notes			Total		2029 Notes			2027 Notes			Total
	(in thousands)								(in thousands)
Contractual interest expense	$	4,205		$	3,437		$	7,642	$	7,148		$	6,875		$	14,023
Amortization of debt discount and issuance costs		454			413			867		765			822			1,587
Total interest and amortization expense	$	4,659		$	3,850		$	8,509	$	7,913		$	7,697		$	15,610
Effective interest rate		2.6	%		2.8	%				2.6	%		2.8	%

Schedule of Future Minimum Payments

Future minimum payments under the Notes as of June 30, 2022 are as follows:

	2029 Notes			2027 Notes			Total
	(in thousands)
Remainder of 2022	$	8,409		$	6,875		$	15,284
Year ending December 31:
2023		16,819			13,750			30,569
2024		16,819			13,750			30,569
2025		16,819			13,750			30,569
2026		16,819			13,750			30,569
Thereafter		789,547			556,875			1,346,422
Total future payments		865,232			618,750			1,483,982
Less amounts representing interest		(117,732	)		(68,750	)		(186,482	)
Total principal amount	$	747,500		$	550,000		$	1,297,500