Debt Arrangements (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The Company’s debt obligations consist of the following:

	March 31, 2021			December 31, 2020
Senior Secured Notes	$	315,566		$	317,856
Variable Funding Note, net of original issue discount		100,000			100,000
Senior Secured Term Loan, net of original issue discount		79,492			94,755
5.75% Convertible Notes (1)		53,644			50,868
Payroll Protection Program Loan		1,307			1,307
Unamortized debt issuance costs		(281	)		(385	)
Total debt		549,728			564,401
Less current maturities		31,510			28,433
Total long-term debt	$	518,218		$	535,968

⁽¹⁾ Reflects the debt carrying amount which is accounted for under the Fair Value Option in the condensed consolidated balance sheet as of March 31, 2021 and December 31, 2020.  The actual principal outstanding balance of the 5.75% Convertible Notes is $94.4 million as of each of March 31, 2021 and December 31, 2020.

Company's Debt Maturities on Calendar Year Basis

As of March 31, 2021, the Company’s debt maturities on a calendar year basis are as follows:

	Total		April 1 through December 31, 2021		2022		2023		2024		2025		Thereafter
Senior Secured Notes (1)	$	315,566	$	—	$	—	$	—	$	—	$	—	$	315,566
Variable Funding Notes	$	100,000		8,902		6,103		6,103		6,103		6,103		66,686
Senior Secured Term Loan (2)	$	79,492		14,463		65,029		—		—		—		—
5.75% Convertible Notes (3)	$	53,644		—		—		53,644				—		—
Payroll Protection Program Loan	$	1,307		784		523		—		—		—		—
Total	$	550,009	$	24,149	$	71,655	$	59,747	$	6,103	$	6,103	$	382,252

⁽¹⁾          The legal final maturity of the Securitization Notes is in January of 2043. As the Company did not repay or refinance the Securitization Notes prior to the anticipated repayment date, beginning January 2020, the Company is no longer required to make previously designated contractual principal payments. Future principal payments will be formulaically based on a percentage of receipts of royalty revenue, and as such are subject market factors outside of the Company’s control. There can be no assurance that all or any future principal payments projected for the Senior Secured Notes will be made in accordance with the projections provided.

⁽²⁾ Reflects the net debt carrying amount, effected by the outstanding balance of the original issue discount, in the condensed consolidated balance sheet as of March 31, 2021.  The actual principal outstanding balance of the Senior Secured Term Loan is $83.2 million as of March 31, 2021.  

⁽³⁾ Reflects the debt carrying amount which is accounted for under the Fair Value Option in the condensed consolidated balance sheet as of March 31, 2021.  The actual principal outstanding balance of the 5.75% Convertible Notes is $94.4 million as of March 31, 2021.