XML 57 R34.htm IDEA: XBRL DOCUMENT
v3.22.4

DEBT OBLIGATIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of debt obligations | The Company’s current and non-current portions of long-term debt were as follows:
| December 31,
(in thousands) | 2022 |  | 2021
Long-term debt |  |  |
Convertible Notes due 2026 | $ | 690,000 |  |  | $ | 690,000 |
Less: Unamortized debt issuance costs | (11,556) |  |  | (15,073) |
Long-term debt, net of current portion | $ | 678,444 |  |  | $ | 674,927 |
Long-term debt to related party |  |  |
Offtake Advances | $ | — |  |  | $ | 16,599 |
Less: Unamortized debt discount | — |  |  | (517) |
Net carrying amount | — |  |  | 16,082 |
Less: Current installments of long-term debt to related party | — |  |  | (16,082) |
Long-term debt to related party, net of current portion | $ | — |  |  | $ | — |
The current and non-current portions of the equipment notes, which are included within the Consolidated Balance Sheets in “Other current liabilities” and “Other non-current liabilities,” respectively, were as follows:
| December 31,
(in thousands) | 2022 |  | 2021
Equipment notes |  |  |
Current | $ | 2,392 |  |  | $ | 2,566 |
Non-current | 4,743 |  |  | 7,095 |
| $ | 7,135 |  |  | $ | 9,661 |
Interest expense, net | Interest expense related to the Convertible Notes was as follows:
| For the year ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Coupon interest | $ | 1,725 |  |  | $ | 1,318 |  |  | $ | — |
Amortization of debt issuance costs | 3,517 |  |  | 2,675 |  |  | — |
Convertible Notes interest expense | $ | 5,242 |  |  | $ | 3,993 |  |  | $ | — |
Interest expense, net, was as follows:
| For the year ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Interest expense | $ | 6,146 |  |  | $ | 9,168 |  |  | $ | 5,171 |
Interest capitalized to property, plant and equipment, net | (360) |  |  | (264) |  |  | (162) |
Interest expense, net | $ | 5,786 |  |  | $ | 8,904 |  |  | $ | 5,009 |
Debt maturities | The following is a schedule of debt repayments as of December 31, 2022:
(in thousands) | Convertible Notes |  | Equipment Notes |  |
Year ending December 31, |  |  |  |  |
2023 | $ | — |  |  | $ | 2,392 |  |  |
2024 | — |  |  | 2,106 |  |  |
2025 | — |  |  | 2,098 |  |  |
2026 | 690,000 |  |  | 539 |  |  |
2027 | — |  |  | — |  |  |
Thereafter | — |  |  | — |  |  |
Total minimum payments | $ | 690,000 |  |  | $ | 7,135 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. + References No definition available. + Details
Name: | us-gaap_ScheduleOfOtherNonoperatingIncomeExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration