Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.20.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
Principal outstanding and unamortized debt issuance and discount costs for the Term Loans were as follows at March 31, 2020 and December 31, 2019:
 
March 31, 2020
 
December 31, 2019
 
Term Loans
 
(in thousands)
Principal outstanding
$
592,500

 
$
596,250

Unamortized issuance costs
(887
)
 
(942
)
Unamortized discount
(1,171
)
 
(1,245
)
Carrying value
$
590,442

 
$
594,063


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
2020
$
15,000

2021
30,000

2022
33,750

2023
24,375

Thereafter
489,375

 
$
592,500


Convertible Debt
The net carrying amount of the Convertible Notes at March 31, 2020 and December 31, 2019, was as follows:
 
March 31, 2020
 
December 31, 2019
 
(in thousands)
Liability component:
 
 
 
Principal amount
$
344,995

 
$
344,995

Unamortized discount
(32,449
)
 
(35,287
)
Unamortized debt issuance costs
(4,157
)
 
(4,520
)
Convertible notes, net
$
308,389

 
$
305,188

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

 
$
61,390


The following table sets forth total interest expense related to the Convertible Notes for the three months ended March 31, 2020 and 2019:
 
Three Months Ended March 31,
 
2020
 
2019
 
(in thousands)
Contractual interest expense
$
1,294

 
$
1,294

Amortization of debt discount
2,838

 
2,676

Amortization of debt issuance costs
363

 
343

 
$
4,495

 
$
4,313