Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of maturities of long-term debt outstanding

Scheduled maturities of our long-term debt outstanding as of June 30, 2020 are as follows (in thousands):


	Term Loan ⁽¹⁾		2022 Notes		2023 Notes		MARAD Debt		Nordea Q5000 Loan		Total

Less than one year	$	3,500	$	—	$	—	$	7,378	$	71,428	$	82,306
One to two years	28,000		125,000		—		7,746		—		160,746
Two to three years	—		—		—		8,133		—		8,133
Three to four years	—		—		125,000		8,538		—		133,538
Four to five years	—		—		—		8,965		—		8,965
Over five years	—		—		—		19,294		—		19,294
Gross debt	31,500		125,000		125,000		60,054		71,428		412,982
Unamortized debt discounts ⁽²⁾	—		(6,395)		(12,829)		—		—		(19,224)
Unamortized debt issuance costs ⁽³⁾	(286)		(971)		(2,068)		(3,293)		(278)		(6,896)
Total debt	31,214		117,634		110,103		56,761		71,150		386,862
Less: current maturities	(3,500)		—		—		(7,378)		(71,150)		(82,028)
Long-term debt	$	27,714	$	117,634	$	110,103	$	49,383	$	—	$	304,834

(1) Term Loan pursuant to the Credit Agreement (as defined below) matures in December 2021.

(2) Convertible Senior Notes due 2022 and 2023 will increase to their face amounts through accretion of their debt discounts to interest expense through May 2022 and September 2023, respectively.

(3) Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.

Schedule of components of net interest expense

The following table details the components of our net interest expense (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

Interest expense	$	7,179	$	8,045	$	14,573	$	15,941
Interest income	(116)		(675)		(582)		(1,433)
Capitalized interest	—		(5,165)		(1,182)		(10,205)
Net interest expense	$	7,063	$	2,205	$	12,809	$	4,303