Long Term Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Summary of Components of Long-term Debt

The table below summarizes the components of the Company’s long-term debt (in thousands):

	December 31,
	2023			2022
Convertible Debenture notes due 2024		260,926			244,808
2021 Credit Agreement due 2026 (1) (2)		291,750			294,750
Total debt		552,676			539,558
Less: unamortized original issue discount		(5,254	)		(10,751	)
Less: unamortized debt issuance costs		(577	)		(1,278	)
Total debt, net		546,845			527,529
Current portion of debt		552,676			3,000
Less: current portion of unamortized original    issue discount		(5,254	)		—
Less: current portion of unamortized debt    issuance costs		(577	)		—
Total current portion of debt, net		546,845			3,000
Total long-term debt, net	$	—		$	524,529

(1)The 2021 Credit Agreement was amended on March 3, 2023.

(2)The Amended 2021 Credit Agreement matures on February 8, 2026, unless the Convertible Debentures are outstanding six months prior to the December 19, 2024 maturity date thereof, in which case the Amended 2021 Credit Agreement matures on June 19, 2024. As of December 31, 2023, the Company does not anticipate repaying the Convertible Debentures by June 19, 2024 and as such, the Term Loan debt of $291.8 million and the Convertible Debentures of $260.9 million are included in the current portion of long-term debt.

Summary of Future Principal Payments, Including in Kind Interest

Future principal payments, including in kind interest, are as follows (in thousands):

December 31,	Amount
2024 (1)	$	568,840
2025		—
2026		—
2027		—
Thereafter		—
Total	$	568,840

(1)The Amended 2021 Credit Agreement matures on February 8, 2026, unless the Convertible Debentures are outstanding six months prior to the December 19, 2024 maturity date thereof, in which case the Amended 2021 Credit Agreement matures on June 19, 2024. As of December 31, 2023, the Company does not anticipate repaying the Convertible Debentures by June 19, 2024 and as such, the Term Loan debt of $291.8 million and the Convertible Debentures of $260.9 million are included in the current portion of long-term debt.

Schedule of Future Amortization of Debt Issuance Costs and Original Issue Discount

The future amortization of debt issuance costs and original issue discount related to the Initial Term Loans and Revolving Credit Loans under the 2021 Credit Agreement, and Convertible Debentures are as follows (in thousands):

December 31,	Amount
2023	$	5,822
2024		—
2025		—
2026		—
Thereafter		—
Total	$	5,822