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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Schedule of long-term debt instruments | The carrying value of the Company’s outstanding debt is summarized as follows (in thousands):
| June 30, |  | December 31,
| 2022 |  | 2021
Term loan B facility maturing December 2026 | $ | 352,120 |  |  | $ | 359,497 |
0.750% Convertible senior notes due August 2025 | 394,894 |  |  | 330,627 |
3.375% Convertible senior notes due May 2024 | 8,640 |  |  | 201,249 |
2.375% Convertible senior notes due April 2022 (1) | — |  |  | 157,857 |
Total | $ | 755,654 |  |  | $ | 1,049,230 |
(1) The 2022 Notes (as defined below) matured on April 1, 2022.
Schedule of composition of the Company's debt and financing obligations | The total debt composition of the Term Loan is as follows (in thousands):
| June 30, |  | December 31,
| 2022 |  | 2021
Term Loan maturing December 2026 | $ | 365,625 |  |  | $ | 375,000 |
Deferred financing costs | (3,856) |  |  | (4,443) |
Discount on debt | (9,649) |  |  | (11,060) |
Total debt, net of debt discount and deferred financing costs | $ | 352,120 |  |  | $ | 359,497 |
The total debt composition of the 2025 Notes is as follows (in thousands):
| June 30, |  | December 31,
| 2022 |  | 2021
0.750% convertible senior notes due August 2025 | $ | 402,500 |  |  | $ | 402,500 |
Deferred financing costs | (7,606) |  |  | (7,155) |
Discount on debt | — |  |  | (64,718) |
Total debt, net of debt discount and deferred financing costs | $ | 394,894 |  |  | $ | 330,627 |
The total debt composition of the 2022 Notes is as follows (in thousands):
| June 30, |  | December 31,
| 2022 |  | 2021
2.375% convertible senior notes due April 2022 | $ | — |  |  | $ | 160,000 |
Deferred financing costs | — |  |  | (223) |
Discount on debt | — |  |  | (1,920) |
Total debt, net of debt discount and deferred financing costs | $ | — |  |  | $ | 157,857 |
Schedule of total interest expense recognized related to the Notes | The following table sets forth the total interest expense recognized in the periods presented (dollar amounts in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Contractual interest expense | $ | 8,196 |  |  | $ | 1,713 |  |  | $ | 17,381 |  |  | $ | 3,418 |
Amortization of debt issuance costs | 874 |  |  | 659 |  |  | 2,053 |  |  | 1,310 |
Amortization of debt discount | 706 |  |  | 5,744 |  |  | 1,412 |  |  | 11,401 |
Capitalized interest and other (Note 6) | (943) |  |  | (1,093) |  |  | (1,767) |  |  | (2,135) |
Total | $ | 8,833 |  |  | $ | 7,023 |  |  | $ | 19,079 |  |  | $ | 13,994 |
Effective interest rate on total debt | 5.08 | % |  | 6.70 | % |  | 5.31 | % |  | 6.70 | %

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