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Long‑Term Debt
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long‑term debt consists of the following:
June 30, 2024December 31, 2023
Credit facility:
Revolving loan facility due November 2025$— $92,028 
Term loan due November 202585,000 190,000 
Convertible senior notes due January 2026 (the “2026 Notes”)687,830 687,830 
Convertible senior notes due July 2027 (the “2027 Notes”)575,000 575,000 
Unamortized debt issuance costs(13,212)(16,455)
Total debt1,334,618 1,528,403 
Less: Current portion of long-term debt— (10,000)
Long-term debt$1,334,618 $1,518,403 
The Company had $150 of letters of credit outstanding as of June 30, 2024 and December 31, 2023 under its amended and restated credit agreement, entered into on December 19, 2017 (the “Credit Facility”). As of June 30, 2024 and December 31, 2023, the Company had $849,850 and $757,822, respectively, available under the Credit Facility.
During the three months ended June 30, 2024, the Company made repayments of $102,500 on the senior secured term loan under the Credit Facility. Under the terms of the senior secured term loan, repayments are applied to unpaid quarterly principal installments. There are no remaining required principal installments on the senior secured term loan through the maturity date of November 15, 2025.
As of June 30, 2024 and December 31, 2023, the Company was in compliance with all debt covenants and none of the conditions of the 2026 Notes or 2027 Notes to early convert had been met.
Interest Expense, Net
Interest expense, net consists of the following:
Three Months EndedSix Months Ended
June 30,June 30,
2024202320242023
Contractual interest expense$(4,072)$(9,364)$(9,486)$(18,674)
Amortization of deferred debt issuance costs(1,927)(1,823)(3,750)(3,646)
Other interest (expense) income
(2)1,193 (68)1,005 
Interest income901 510 1,684 739 
Interest expense, net$(5,100)$(9,484)$(11,620)$(20,576)
The weighted average interest rate on borrowings under the Credit Facility were 7.38% and 7.14% for the three months ended June 30, 2024 and 2023, respectively, and 7.43% and 6.89% for the six months ended June 30, 2024 and 2023, respectively.