LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2021

LONG-TERM DEBT

Schedule of outstanding indebtedness, at face value

As of December 31, 2021, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):

	Face Value Debt		Maturity Date	Interest Rate
Credit Facility	$	67,000	May 2023		30-day LIBOR + [1.35% - 1.95%]
2026 Term Loan (1)		65,000	March 2026		30-day LIBOR + [1.35% - 1.95%]
2027 Term Loan (2)		100,000	January 2027		30-day LIBOR + [1.35% - 1.95%]
3.875% Convertible Senior Notes due 2025		51,034	April 2025		3.875%
Total Long-Term Face Value Debt	$	283,034

(1) The Company utilized interest rate swaps on the $65.0 million 2026 Term Loan balance, including (i) its redesignation of the existing $50.0 million interest rate swap, entered into as of August 31, 2020, and (ii) a $15.0 million interest rate swap effective August 31, 2021, to fix LIBOR and achieve a weighted average fixed interest rate of 0.35% plus the applicable spread (see Note 18, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).

(2) Effective November 5, 2021 the Company redesignated the interest rate swap, entered into as of March 31, 2020, to fix LIBOR and achieve a fixed interest rate of 0.73% plus the applicable spread on the $100.0 million 2027 Term Loan balance (see Note 18, “Interest Rate Swaps” for further disclosure related to the Company’s interest rate swaps).

Schedule of components of long-term debt

Long-term debt consisted of the following (in thousands):

	December 31, 2021				December 31, 2020
	Total		Due Within One Year		Total		Due Within One Year
Credit Facility	$	67,000	$	—	$	164,845	$	—
2026 Term Loan		65,000		—		—		—
2027 Term Loan		100,000		—		—		—
Mortgage Note Payable (Originated with Wells Fargo)		—		—		30,000		—
Mortgage Note Payable (Originated with Wells Fargo)		—		—		23,183		23,183
3.875% Convertible Senior Notes, net of Discount		47,469		—		56,296		—
Financing Costs, net of Accumulated Amortization		(1,196)		—		(494)		—
Total Long-Term Debt	$	278,273	$	—	$	273,830	$	23,183

Schedule of payments applicable to reduction of principal amounts

Year Ending December 31,	Amount
2022	$	—
2023		67,000
2024		—
2025		51,034
2026		65,000
2027 and Thereafter		100,000
Total Long-Term Debt - Face Value	$	283,034

Schedule of carrying value of long-term debt

The carrying value of long-term debt as of December 31, 2021 consisted of the following (in thousands):

	Total
Current Face Amount	$	283,034
Unamortized Discount on Convertible Debt		(3,565)
Financing Costs, net of Accumulated Amortization		(1,196)
Total Long-Term Debt	$	278,273

Schedule of interest expense on debt

	Total
Current Face Amount	$	283,034
Unamortized Discount on Convertible Debt		(3,565)
Financing Costs, net of Accumulated Amortization		(1,196)
Total Long-Term Debt	$	278,273