XML 43 R32.htm IDEA: XBRL DOCUMENT v3.21.1
Debt (Tables)
3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments Further details of the Notes are as follows:
IssuanceMaturity DateInterest RateFirst Interest Payment DateEffective Interest RateSemi-Annual Interest Payment DatesInitial Conversion Rate per $1,000 PrincipalInitial Conversion PriceNumber of Shares (in millions)
2023 NotesAugust 1, 20231.25 %February 1, 20191.86 %February 1 and August 124.0460$41.59 1.1 
2025 NotesMay 1, 20252.25 %November 1, 20202.88 %May 1 and November 116.3875$61.02 3.8 
2027 NotesMarch 15, 20270.25 %September 15, 20210.67 %March 15 and September 159.6734$103.38 5.8 
Schedule of Liability and Equity Components of Convertible Debt
As a result of applying the modified retrospective method to adopt this standard, the following adjustments were made to the consolidated balance sheet as of January 1, 2021 (in thousands):
 As ReportedAdjustmentsAdjusted Under ASU 2020-06
 December 31, 2020Transfer Equity Component of the Debt to LiabilitiesReverse Equity Component of Debt Issuance CostsReverse Debt Discount AmortizationRecord Debt Issuance Costs Amortization TotalJanuary 1, 2021
Liabilities and Stockholders' Equity:
Convertible senior notes, net$378,586 $102,166 $(3,140)$(28,811)$1,226 $71,441 $450,027 
Total liabilities$841,586 $102,166 $(3,140)$(28,811)$1,226 $71,441 $913,027 
Stockholders' Equity:
Additional paid-in capital$692,603 $(102,166)$3,140 $— $— $(99,026)$593,577 
Accumulated deficit$(617,279)$— $— $28,811 $(1,226)$27,585 $(589,694)
Total stockholders' equity$71,536 $(102,166)$3,140 $28,811 $(1,226)$(71,441)$95 
Total liabilities and stockholders' equity$913,122 $— $— $— $— $— $913,122 
The net carrying amount of the Notes as of March 31, 2021 and December 31, 2020 was as follows (in thousands):
As of March 31, 2021As of December 31, 2020
2023 Notes2025 Notes2027 NotesTotal2023 Notes2025 NotesTotal
Principal$47,353 $230,000 $600,000 $877,353 $230,000 $230,000 $460,000 
Unamortized debt discount— — — — (30,425)(42,930)(73,355)
Unamortized debt issuance costs(778)(5,957)(14,909)(21,644)(3,009)(5,050)(8,059)
Net carrying amount$46,575 $224,043 $585,091 $855,709 $196,566 $182,020 $378,586 
Interest expense related to the Notes was as follows (in thousands):
Three Months Ended March 31, 2021Three Months Ended March 31, 2020
2023 Notes2025 Notes2027 NotesTotal2023 NotesTotal
Contractual interest expense$558 $1,294 $50 $1,902 $719 $719 
Amortization of debt discount— — — — 2,496 2,496 
Amortization of debt issuance costs221 319 80 620 247 247 
Induced conversion expense2,740 — — 2,740 — — 
Total interest expense$3,519 $1,613 $130 $5,262 $3,462 $3,462