Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.19.3
Debt (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Debt
Principal outstanding and unamortized debt issuance and discount costs for the Term Loan were as follows at September 30, 2019 and December 31, 2018:
 
September 30, 2019
 
December 31, 2018
 
Term Loans
 
(in thousands)
Principal outstanding
$
300,000

 
$
304,990

Unamortized issuance costs
(588
)
 
(777
)
Unamortized discount
(848
)
 
(498
)
Carrying value
$
298,564

 
$
303,715


Schedule of maturities of long-term debt
Future maturities of principal under the Term Loans are as follows for the years ending December 31, in thousands:
 
Term Loans
2019
$
1,875

2020
9,375

2021
15,000

2022
16,875

Thereafter
256,875

 
$
300,000


Convertible Debt
The following table sets forth total interest expense related to the Convertible Notes for the three and nine months ended September 30, 2019 and 2018:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
 
(in thousands)
Contractual interest expense
$
1,294

 
$
1,294

 
$
3,881

 
$
3,881

Amortization of debt discount
2,756

 
2,599

 
8,149

 
7,685

Amortization of debt issuance costs
353

 
333

 
1,043

 
984

 
$
4,403

 
$
4,226

 
$
13,073

 
$
12,550


The net carrying amount of the Convertible Notes at September 30, 2019 and December 31, 2018, was as follows:
 
September 30, 2019
 
December 31, 2018
 
(in thousands)
Liability component:
 
 
 
Principal amount
$
344,995

 
$
345,000

Unamortized discount
(38,085
)
 
(46,235
)
Unamortized debt issuance costs
(4,878
)
 
(5,922
)
 
$
302,032

 
$
292,843

 
 
 
 
Equity component, net of issuance costs and deferred tax:
$
61,390

 
$
61,390