LONG-TERM DEBT, DERIVATIVES AND LETTERS OF CREDIT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of Long-Term Debt

As of December 31, 2019 and 2018, our long-term debt and finance lease obligations are summarized as follows (in thousands):

	December 31,
	2019		2018
Credit Facility revolver	$	73,876	$	156,843
Credit Facility term loan1	49,735		—
Total Credit Facility	123,611		156,843
Convertible debt2	201,619		195,184
Finance lease obligations	5,363		5,356
Total long-term debt and finance lease obligations	330,593		357,383
Less: current portion of long-term debt and finance lease obligations	5,294		569
Total long-term debt and finance lease obligations, less current portion	$	325,299	$	356,814

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1 Comprised of principal amount outstanding, less unamortized discount and issuance costs.

2 Comprised of principal amount outstanding plus embedded derivative liability (if any), less unamortized discount and issuance costs. See Convertible Debt section below for additional information.

Schedule of Future Maturities of Long-term Debt

Future maturities of long-term debt, excluding finance leases, are as follows (in thousands):

December 31
2020	$	5,000
2021	118,876
2022	—
2023	230,000
2024	—
Thereafter	—
Total	$	353,876

Credit Facility Financial Covenant Requirements

Fiscal Quarter Ending	Maximum Senior Secured Leverage Ratio
December 31, 2019, March 31, 2020, June 30, 2020 and September 30, 2020	2.75 to 1.00
December 31, 2020 and each Fiscal Quarter thereafter	2.50 to 1.00
Fiscal Quarter Ending	Maximum Net Leverage Ratio
March 31, 2020	5.50 to 1.00
June 30, 2020	5.25 to 1.00
September 30, 2020	5.00 to 1.00
December 31, 2020 and each Fiscal Quarter thereafter	4.50 to 1.00
Fiscal Quarter Ending	Minimum Debt Service Coverage Ratio
December 31, 2019, March 31, 2020, June 30, 2020 and September 30, 2020	1.25 to 1.00
December 31, 2020 and each Fiscal Quarter thereafter	1.50 to 1.00

Convertible Debt

As of December 31, 2019 and 2018, the Notes were recorded in our consolidated balance sheet as follows (in thousands):

	December 31,
	2019			2018
Liability component:
Principal	$	230,000		$	230,000
Unamortized issuance costs	(4,756		)	(5,834		)
Unamortized discount	(23,625		)	(28,982		)
Net carrying amount of the liability component1	201,619			195,184
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	13,912		$	13,912

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1    Included in the “Long-term debt and finance lease obligations” line of the consolidated balance sheets.

2    Relates to the portion of the Notes accounted for under ASC 470-20 (defined below) and is included in the “Additional paid-in capital” line of the consolidated balance sheets.

The following table sets forth interest expense information related to the Notes (dollars in thousands):

	Twelve Months Ended December 31,
	2019			2018
Coupon interest	$	11,500		$	11,500
Amortization of debt discount and issuance costs	6,435			5,886
Total interest expense on convertible senior notes	$	17,935		$	17,386
Effective interest rate	9.12		%	9.12		%

Amounts Recognized In Other Comprehensive Income (Loss), and Reclassified Into Income (Loss)

The amounts recognized in other comprehensive income (loss), reclassified into income (loss) and the amounts recognized in income (loss) for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Income (Loss)								Gain (Loss) Reclassified from Other Comprehensive Income (Loss) to Earnings
	Twelve Months Ended December 31,								Twelve Months Ended December 31,
	2019		2018			2017			2019		2018		2017
Derivatives Classified as Hedging Instruments
Net investment hedge	$	282	$	658		(1,802		)	$	—	$	—	$	—
	Gain (Loss) Recognized in Income (Loss)1
	Twelve Months Ended December 31,
	2019		2018			2017
Derivatives Not Classified as Hedging Instruments
Embedded derivative in convertible debt	$	—	$	(24,783	)	$	818

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1    Reflected as “Loss (gain) on convertible debt embedded derivative” in the consolidated statements of operations.

Fair Value Totals and Balance Sheet Classification for Derivatives Designated As Hedges

The following table presents the fair value totals and balance sheet classification for derivatives designated as hedges and derivatives not designated as hedges under ASC 815 (in thousands):

	December 31, 2019					December 31, 2018
	Classification	Balance Sheet Location	Fair Value			Classification	Balance Sheet Location	Fair Value
Derivatives Classified as Hedging Instruments
Net investment hedge	Liability	Long-term debt	$	(4,186	)	Liability	Long-term debt	$	(3,904	)