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Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt and Related Interest
The following table summarizes our total outstanding borrowings related to the 2021 Credit Agreement and Convertible Senior Notes:
RateMaturity DateDecember 31, 2022December 31, 2021
2021 Credit Agreement
Revolving credit facility
L + 1.50%
April 2026$— $— 
Term Loan A-1
L + 1.50%
April 2026290,000 585,000 
Term Loan A-2
L + 1.25%
April 2024105,000 170,000 
Convertible Senior Notes due 20260.25%March 2026600,000 600,000 
Total borrowings995,000 1,355,000 
Less: unamortized debt discount and debt issuance costs(7,611)(13,724)
Total borrowings, net987,389 1,341,276 
Less: current portion of debt(30,000)(30,000)
Carrying value$957,389 $1,311,276 
The weighted average interest rates for the borrowings under the 2021 Credit Agreement and Convertible Senior Notes due 2026 were 5.82% and 0.25%, as of December 31, 2022, respectively. During the twelve months ended December 31, 2022, the effective interest rates for our borrowings were 3.79% and 0.54% for the 2021 Credit Agreement and the Convertible Senior Notes, respectively. The following sets forth the interest expense recognized related to the borrowings under the 2021 Credit Agreement and Convertible Senior Notes and is included in interest expense in the accompanying consolidated statements of income:
Years Ended December 31,
202220212020
Contractual interest expense - Revolving Credit Facility$(1,267)$(1,244)$— 
Contractual interest expense - Term Loans(18,583)(9,341)— 
Contractual interest expense - Convertible Senior Notes(1,500)(1,213)— 
Amortization of debt discount and debt issuance costs (7,029)(3,297)— 
Interest expense and amortization of debt issuance costs - terminated 2019 Credit Agreement and Senior Unsecured Bridge loan facility— (8,203)(1,013)
Total $(28,379)$(23,298)$(1,013)
Schedule of Maturities of Long-term Debt
As of December 31, 2022, the required annual maturities related to the 2021 Credit Agreement and the Convertible Senior Notes due 2026 were as follows:
Year ending December 31,Annual Maturities
2023$30,000 
2024135,000 
202530,000 
2026800,000 
2027— 
Total required maturities$995,000