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Convertible Senior Notes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Net Carrying Amount of Liability and Equity Component of Convertible Senior Notes

As of December 31, 2020, the net carrying amount of the liablity component of the Notes is classified as a long-term liability in the “Convertible Senior Notes” line item in the Company’s Consolidated Balance Sheet as follows (in thousands):

	December 31,
	2020
Principal	$	650,000
Unamortized debt discount		(152,075	)
Unamortized issuance costs		(11,559	)
Net carrying amount of debt	$	486,366

As of December 31, 2020, the net carrying amount of the equity component of the Notes is classified as permanent equity and included in “additional paid in capital” in the Company’s Consolidated Balance Sheet as follows (in thousands):

	December 31,
	2020
Debt discount for conversion option	$	153,527
Issuance costs allocated to equity		(3,602	)
Deferred tax liability, net of deferred tax asset, related to debt discount and issuance costs		(42,115	)
Net carrying amount of equity	$	107,810

Convertible Senior Notes

Debt Instrument [Line Items]

Schedule of Interest Expense Related to Notes

For the year ended December 31, 2020, interest expense related to the Notes was as follows (in thousands):

	Year Ended December 31,
	2020
Contractual interest expense	$	271
Amortization of debt discount		1,452
Amortization of issuance costs allocated to debt		91
Total interest expense	$	1,814