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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
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,
| 2023 |  | 2022
Term loan A facility maturing March 2028 | $ | 145,686 |  |  | $ | — |
Term loan B facility maturing December 2026 (1) | — |  |  | 284,704 |
0.750% Convertible senior notes due August 2025 | 397,360 |  |  | 396,126 |
3.375% Convertible senior notes due May 2024 | 8,641 |  |  | 8,641 |
Total | $ | 551,687 |  |  | $ | 689,471 |
(1) The TLB Term Loan (as defined below) was refinanced on March 31, 2023 as discussed below.
Schedule of Composition of the Company's Debt and Financing Obligations | The total debt composition of the TLA Term Loan is as follows (in thousands):
| June 30, |  |
| 2023 |  |
Term loan A facility maturing March 2028 | $ | 147,188 |  |  |
Deferred financing costs | (1,079) |  |  |
Discount on debt | (423) |  |  |
Total debt, net of debt discount and deferred financing costs | $ | 145,686 |  |  |
The total debt composition of the TLB Term Loan was as follows (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
Term loan B facility maturing December 2026 | $ | — |  |  | $ | 296,875 |
Deferred financing costs | — |  |  | (3,919) |
Discount on debt | — |  |  | (8,252) |
Total debt, net of debt discount and deferred financing costs | $ | — |  |  | $ | 284,704 |
The total debt composition of the 2025 Notes is as follows (in thousands):
| June 30, |  | December 31,
| 2023 |  | 2022
0.750% convertible senior notes due August 2025 | $ | 402,500 |  |  | $ | 402,500 |
Deferred financing costs | (5,140) |  |  | (6,374) |
Total debt, net of debt discount and deferred financing costs | $ | 397,360 |  |  | $ | 396,126 |
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,
| 2023 |  | 2022 |  | 2023 |  | 2022
Contractual interest expense | $ | 3,849 |  |  | $ | 8,196 |  |  | $ | 13,199 |  |  | $ | 17,381 |
Amortization of debt issuance costs | 691 |  |  | 874 |  |  | 1,628 |  |  | 2,053 |
Amortization of debt discount | 28 |  |  | 706 |  |  | 703 |  |  | 1,412 |
Capitalized interest and other (Note 5) | (703) |  |  | (943) |  |  | (2,076) |  |  | (1,767) |
Total | $ | 3,865 |  |  | $ | 8,833 |  |  | $ | 13,454 |  |  | $ | 19,079 |
Effective interest rate on total debt | 3.16 | % |  | 5.08 | % |  | 4.38 | % |  | 5.31 | %

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