Debt (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of five year payment of term debt and line of credit and modified convertible notes

The five-year payment schedule of the Company’s debt as of September 30, 2019 is as follows (in thousands):

	Payment Due by Period														Original
	Remainder of														Issue (Discount)		Carrying
	2019		2020		2021		2022		2023		Thereafter		Total		Premium and Costs, Net		Value
Revolving facility	$	46,360	$	—	$	—	$	—	$	—	$	—	$	46,360	$	—	$	46,360
1L Term Loan		4,031		32,250		32,250		32,250		536,963		—		637,744		(15,422)		622,322
2L Term Loan		—		—		—		—		—		687,146		687,146		(83,613)		603,533
Convertible notes		—		—		18,578		—		—		26,283		44,861		(4,896)		39,965
Total	$	50,391	$	32,250	$	50,828	$	32,250	$	536,963	$	713,429	$	1,416,111	$	(103,931)	$	1,312,180

Schedule of interest expense

The following table is a summary of total interest expense recognized (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Contractual coupon interest	$	37,304	$	2,154	$	110,230	$	6,201
Non-cash interest expense (including amortization of discounts, deferred financing costs, and PIK)		11,504		308		31,466		896
Total interest expense	$	48,808	$	2,462	$	141,696	$	7,097

2024 Convertible Notes

Schedule of summary of recorded value of convertible debt

The following table is a summary of the recorded value of the 2024 Convertible Notes as of September 30, 2019 and December 31, 2018 (in thousands):

	September 30, 2019		December 31, 2018
Convertible note - face value	$	25,000	$	25,000
Less: Original issue discount		(4,522)		(4,522)
Short-term convertible note recorded value on issue date		20,478		20,478
PIK interest issued		1,283		—
Accumulated accretion of original issue debt discount		2,229		534
Convertible note value	$	23,990	$	21,012

Modified Convertible Notes

Schedule of summary of recorded value of convertible debt

The following table is a summary of the recorded value of the Modified Convertible Notes as of September 30, 2019 and December 31, 2018 (in thousands).

	September 30, 2019		December 31, 2018
Modified convertible notes - face value	$	16,473	$	16,473
Less: original issue discount		(4,673)		(4,673)
Modified convertible notes recorded value on issue date		11,800		11,800
PIK interest issued		2,105		1,505
Accumulated accretion of original issue debt discount		2,070		1,918
Modified convertible notes value	$	15,975	$	15,223