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LONG-TERM DEBT, NET (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of:
June 30, 2020December 31, 2019
(In thousands)
Credit Facility due February 13, 2025
$20,000  $—  
Term Loan due February 13, 2027 (the “Term Loan”)
425,000  425,000  
6.375% Senior Notes due June 1, 2024 (the “6.375% Senior Notes”); interest payable each June 1 and December 1
—  400,000  
5.00% Senior Notes due December 15, 2027 (the “5.00% Senior Notes”); interest payable each June 15 and December 15
450,000  450,000  
4.625% Senior Notes due June 1, 2028 (the “4.625% Senior Notes”); interest payable each June 1 and December 1, commencing December 1, 2020
500,000  —  
5.625% Senior Notes due February 15, 2029 (the “5.625% Senior Notes”); interest payable each February 15 and August 15
350,000  350,000  
4.125% Senior Notes due August 1, 2030 (the “4.125% Senior Notes”); interest payable each February 1 and August 1, commencing August 1, 2020
500,000  —  
0.875% Exchangeable Senior Notes due October 1, 2022 (the “2022 Exchangeable Notes”); interest payable each April 1 and October 1
517,500  517,500  
0.875% Exchangeable Senior Notes due June 15, 2026 (the “2026 Exchangeable Notes”); interest payable each June 15 and December 15
575,000  575,000  
2.00% Exchangeable Senior Notes due January 15, 2030 (the “2030 Exchangeable Notes”); interest payable each January 15 and July 15
575,000  575,000  
Total debt3,912,500  3,292,500  
Less: Unamortized original issue discount
336,069  357,887  
Less: Unamortized debt issuance costs48,771  44,987  
Total long-term debt, net$3,527,660  $2,889,626  
The following table presents details of the exchangeable features under the amended Match Group terms:
Number of shares of the Company’s Common Stock into which each $1,000 of Principal of the Exchangeable Notes is Exchangeable(a)
Approximate Equivalent Exchange Price per Share(a)
Exchangeable Date
2022 Exchangeable Notes22.7331$43.99  July 1, 2022
2026 Exchangeable Notes11.4259$87.52  March 15, 2026
2030 Exchangeable Notes11.8739$84.22  October 15, 2029
______________________
(a)Subject to adjustment upon the occurrence of specified events.
Schedule of Exchangeable Notes Hedges and Warrants
The following tables sets forth the components of the Exchangeable Notes:
June 30, 2020
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Liability component:
Principal$517,500  $575,000  $575,000  
Less: unamortized original issue discount33,779  120,585  175,281  
Net carrying value of the liability component$483,721  $454,415  $399,719  
Equity component$70,363  $138,796  $189,213  

December 31, 2019
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Liability component:
Principal$517,500  $575,000  $575,000  
Less: unamortized original issue discount40,768  129,037  181,800  
Net carrying value of the liability component$476,732  $445,963  $393,200  
Equity component$70,363  $138,796  $189,213  
The following tables present details of the Exchangeable Notes Hedges and Warrants under the amended Match Group terms:
Number of Shares(a)
Approximate Equivalent Exchange Price per Share(a)
(Shares in millions)
2022 Exchangeable Notes Hedge11.8$43.99  
2026 Exchangeable Notes Hedge6.6$87.52  
2030 Exchangeable Notes Hedge6.8$84.22  
Number of Shares(a)
Weighted Average Strike Price per Share(a)
(Shares in millions)
2022 Exchangeable Notes Warrants11.8$68.14  
2026 Exchangeable Notes Warrants6.6$135.58  
2030 Exchangeable Notes Warrants6.8$135.58  
______________________
(a)Subject to adjustment upon the occurrence of specified events.
Schedule of Interest Expense, Exchangeable Notes
The following table sets forth interest expense recognized related to the Exchangeable Notes:

Three Months Ended June 30, 2020
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$1,132  $1,258  $2,875  
Amortization of original issue discount3,535  4,235  3,273  
Amortization of debt issuance costs875  321  178  
Total interest expense recognized$5,542  $5,814  $6,326  

Six Months Ended June 30, 2020
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$2,264  $2,516  $5,750  
Amortization of original issue discount6,989  8,452  6,519  
Amortization of debt issuance costs1,730  640  354  
Total interest expense recognized$10,983  $11,608  $12,623  
Three Months Ended June 30, 2019
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$1,132  $447  $1,022  
Amortization of original issue discount3,396  1,499  1,146  
Amortization of debt issuance costs871  131  85  
Total interest expense recognized$5,399  $2,077  $2,253  

Six Months Ended June 30, 2019
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$2,264  $447  $1,022  
Amortization of original issue discount6,759  1,499  1,146  
Amortization of debt issuance costs1,742  131  85  
Total interest expense recognized$10,765  $2,077  $2,253  
Schedule of If-Converted Value in Excess of Principal
The following table presents the if-converted value that exceeded the principal of each note based on the Company’s stock price June 30, 2020 and December 31, 2019, respectively. The amounts for June 30, 2020 represent the exchange occurring under the Match Group terms and for December 31, 2019 represent the exchange occurring under Former IAC terms.
June 30, 2020December 31, 2019
(In millions)
2022 Exchangeable Notes$706.6  $329.6  
2026 Exchangeable Notes$108.6  N/A
2030 Exchangeable Notes$135.4  N/A