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Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of Liability Components of the Convertible Notes | The Company's debt consists of the following:
(in thousands) |  | December 31, 2020 |  | December 31, 2019
Senior Secured Term Loan due 2026: |  |  |  |
Principal |  | $ | 400,000 |  |  | $ | — |
Less: debt discount (1) |  | (7,434) |  |  | — |
Less: deferred financing (1) |  | (5,592) |  |  | — |
Net carrying value of the Senior Secured Term Loan |  | $ | 386,974 |  |  | $ | — |
Senior Secured Term Loan due 2023 (2): |  |  |  |
Principal |  | $ | — |  |  | $ | 150,000 |
Less: debt discount (1) |  | — |  |  | (2,315) |
Less: deferred financing (1) |  | — |  |  | (311) |
Net carrying value of the Senior Secured Term Loan |  | $ | — |  |  | $ | 147,374 |
Convertible Notes (3): |  |  |  |
Principal |  | $ | 2,825 |  |  | $ | 2,825 |
Less: debt discount (1) |  | (518) |  |  | (659) |
Less: deferred financing (1) |  | (27) |  |  | (35) |
Net carrying value of the Convertible Notes |  | $ | 2,280 |  |  | $ | 2,131 |
Net carrying value of Long-term debt |  | $ | 389,254 |  |  | $ | 149,505 |
______________________________ (1) Included in the Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the Convertible Notes and Senior Secured Term Loans using the effective interest rate method. (2) The principle, accrued interest and early settlement premiums associated with the Senior Secured Term Loan due 2023 were fully paid and settled in July 2020. (3) The Convertible Notes are currently convertible as the last reported sale price of the Company's common stock was equal to or more than 130% of the conversion price for at least 20 trading days of the 30 consecutive trading days ending on the last day of the quarter.
Components of Total Interest Expense Recognized Related to the Convertible Notes | The following table sets forth interest expense recognized related to the Company's debt for the years ended December 31, 2020 and 2019 respectively:
(in thousands) |  | December 31, 2020 |  | December 31, 2019
Contractual interest expense |  | $ | 20,933 |  |  | $ | 16,483 |
Amortization of debt discount |  | $ | 1,267 |  |  | $ | 2,381 |
Amortization of deferred financing |  | $ | 527 |  |  | $ | 165 |
Effective interest rate of the liability component, Convertible debt |  | 10.6 | % |  | 10.6 | %
Effective interest rate of the liability component, Senior Secured Term Loan due 2026 |  | 8.4 | % |  | — | %
Effective interest rate of the liability component, Senior Secured Term Loan due 2023 |  | — | % |  | 10.2 | %

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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