DEBT (Tables)

9 Months Ended

Sep. 30, 2021

The total debt composition of the 2025 Notes is as follows (in thousands):


	September 30,		December 31,
	2021		2020
0.750% convertible senior notes due 2025	$	402,500	$	402,500
Deferred financing costs	(7,610)		(8,940)
Discount on debt	(68,744)		(80,530)
Total debt, net of debt discount and deferred financing costs	$	326,146	$	313,030

The total debt composition of the 2022 Notes is as follows (in thousands):


	September 30,		December 31,
	2021		2020
2.375% convertible senior notes due 2022	$	160,000	$	160,000
Deferred financing costs	(443)		(1,089)
Discount on debt	(3,806)		(9,263)
Total debt, net of debt discount and deferred financing costs	$	155,751	$	149,648

The following table sets forth the total interest expense recognized in the periods presented (dollar amounts in thousands):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Contractual interest expense	$	1,704		$	1,764		$	5,122		$	5,861
Amortization of debt issuance costs	666			629			1,976			1,512
Amortization of debt discount	5,844			5,430			17,245			12,684
Capitalized interest and other (Note 5)	(881)			(691)			(3,016)			(1,448)
Total	$	7,333		$	7,132		$	21,327		$	18,609

Effective interest rate on convertible senior notes	6.70		%	6.78		%	6.70		%	7.35		%