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Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Instrument [Line Items]

Schedule of Debt

The net carrying value of the Company’s long-term debt (in thousands) consisted of the following, as of:

		June 30, 2023				December 31, 2022
2025 Convertible Notes		$	642,405			$	640,888
2027 Convertible Notes			1,035,290				1,033,277
2028 Secured Notes			490,356				489,547
2025 Secured Term Loan			0				204,688
Other long-term secured debt			9,923				10,160
Total		$	2,177,974			$	2,378,560

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

The following is a summary of the Company’s convertible debt instruments as of June 30, 2023 (in thousands):

		June 30, 2023
		Outstanding				Unamortized				Net Carrying				Fair Value
		Principal Amount				Issuance Costs				Value				Amount				Leveling
2025 Convertible Notes		$	650,000			$	(7,595	)		$	642,405			$	710,232			Level 2
2027 Convertible Notes			1,050,000				(14,710	)			1,035,290				672,000			Level 2
Total		$	1,700,000			$	(22,305	)		$	1,677,695			$	1,382,232

The following is a summary of the Company’s convertible debt instruments as of December 31, 2022 (in thousands):

		December 31, 2022
		Outstanding				Unamortized				Net Carrying				Fair Value
		Principal Amount				Issuance Costs				Value				Amount				Leveling
2025 Convertible Notes		$	650,000			$	(9,112	)		$	640,888			$	364,000			Level 2
2027 Convertible Notes			1,050,000				(16,723	)			1,033,277				394,800			Level 2
Total		$	1,700,000			$	(25,835	)		$	1,674,165			$	758,800

Schedule of Maturities of Debt Instruments

Maturities

The following table shows the maturities of the Company’s debt instruments as of June 30, 2023 (in thousands). The principal payments related to the 2028 Secured Notes are included in the table below based on the First Springing Maturity Date of September 15, 2025, as if the springing maturity feature discussed above were triggered. As of June 30, 2023, the Company expects to be able to satisfy the requirements in the 2028 Secured Notes Indenture to avoid triggering the springing maturity feature of the 2028 Secured Notes.

Payments due by period ended June 30,		2025 Convertible Notes				2027 Convertible Notes				2028 Secured Notes				Other long-term secured debt				Total
2024		$	0			$	0			$	0			$	525			$	525
2025			0				0				0				555				555
2026			650,000				0				500,000				584				1,150,584
2027			0				1,050,000				0				8,937				1,058,937
2028			0				0				0				0				0
Thereafter			0				0				0				0				0
Total		$	650,000			$	1,050,000			$	500,000			$	10,601			$	2,210,601

Secured Notes Due Twenty Twenty Eight

Debt Instrument [Line Items]

Schedule of Debt

The following is a summary of the 2028 Secured Notes as of June 30, 2023 (in thousands):

		June 30, 2023
		Outstanding				Unamortized				Net Carrying				Fair Value
		Principal Amount				Issuance Costs				Value				Amount				Leveling
2028 Secured Notes		$	500,000			$	(9,644	)		$	490,356			$	448,835			Level 2

The following is a summary of the 2028 Secured Notes as of December 31, 2022 (in thousands):

		December 31, 2022
		Outstanding				Unamortized				Net Carrying				Fair Value
		Principal Amount				Issuance Costs				Value				Amount				Leveling
2028 Secured Notes		$	500,000			$	(10,453	)		$	489,547			$	369,800			Level 2

Schedule of Interest Expense Related to Notes

For the three months ended June 30, 2023 and 2022, interest expense related to the 2028 Secured Notes was as follows (in thousands):

		Three Months Ended June 30, 2023												Three Months Ended June 30, 2022
		Contractual				Amortization of								Contractual				Amortization of
		Interest Expense				Issuance Costs				Total				Interest Expense				Issuance Costs				Total
2028 Secured Notes		$	7,656			$	408			$	8,064			$	7,656			$	382			$	8,038

Term Loan Due Twenty Twenty Five

Debt Instrument [Line Items]

Schedule of Debt

The following is a summary of the 2025 Secured Term Loan as of December 31, 2022 (in thousands):

		December 31, 2022
		Outstanding				Unamortized				Net Carrying				Fair Value
		Principal Amount				Issuance Costs				Value				Amount				Leveling
2025 Secured Term Loan		$	205,000			$	(312	)		$	204,688			$	205,000			Level 3

Schedule of Interest Expense Related to Notes

For the six months ended June 30, 2023, interest expense related to the 2025 Secured Term Loan was as follows (in thousands):

		Six Months Ended June 30, 2023
		Contractual				Amortization of
		Interest Expense				Issuance Costs				Total
2025 Secured Term Loan		$	3,781			$	31			$	3,812

Convertible Debt

Debt Instrument [Line Items]

Schedule of Interest Expense Related to Notes

For the three months ended June 30, 2023 and 2022, interest expense related to the Convertible Notes was as follows (in thousands):

		Three Months Ended June 30, 2023												Three Months Ended June 30, 2022
		Contractual				Amortization of								Contractual				Amortization of
		Interest Expense				Issuance Costs				Total				Interest Expense				Issuance Costs				Total
2025 Convertible Notes		$	1,219			$	760			$	1,979			$	1,219			$	750			$	1,969
2027 Convertible Notes			0				1,007				1,007				0				1,003				1,003
Total		$	1,219			$	1,767			$	2,986			$	1,219			$	1,753			$	2,972

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