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Debt (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt consists of the following (in thousands):
| September 30, 2023 |  | December 31, 2022
4.625% Senior Notes | $ | 460,038 |  |  | $ | 460,038 |
1.75% Convertible Notes | 550,000 |  |  | 550,000 |
Total Notes | 1,010,038 |  |  | 1,010,038 |
Credit Agreement | — |  |  | — |
Less: Unamortized discount | (2,540) |  |  | (2,764) |
Deferred issuance costs | (6,755) |  |  | (8,221) |
Total long-term debt | $ | 1,000,743 |  |  | $ | 999,053 |
Schedule of Debt Repurchases | Repurchases of 4.625% Senior Notes on the open market were as follows (in thousands):
| Three months ended September 30, 2022 |  | Nine months ended September 30, 2022
Principal repurchased | $ | 105,135 |  |  | $ | 181,238 |
Aggregate purchase price | $ | 94,051 |  |  | $ | 167,661 |
Gain on repurchase (1) | $ | 10,211 |  |  | $ | 12,060 |
(1)Presented within ‘Gain on debt extinguishment, net” on the Condensed Consolidated Statements of Operations.
Schedule of Debt | The following table provides additional information related to the 1.75% Convertible Notes (in thousands):
| September 30, 2023 |  | December 31, 2022
Principal amount of 1.75% Convertible Notes | $ | 550,000 |  |  | $ | 550,000 |
Less: Carrying amount of debt issuance costs | (5,952) |  |  | (7,347) |
Net carrying amount of 1.75% Convertible Notes | $ | 544,048 |  |  | $ | 542,653 |
The following table provides the components of interest expense related to the 1.75% Convertible Notes (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Contractual interest expense | $ | 2,746 |  |  | $ | 2,407 |  |  | $ | 14,963 |  |  | $ | 7,370 |
Amortization of debt issuance costs | 466 |  |  | 456 |  |  | 1,395 |  |  | 1,400 |
Total interest expense related to 1.75% Convertible Notes | $ | 3,212 |  |  | $ | 2,863 |  |  | $ | 16,358 |  |  | $ | 8,770 |

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