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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Schedule of long-term debt | Long-term debt consists of the following (in thousands):
| December 31,
| 2020 |  | 2019
Term Loan (matures December 2021) | $ | 29,750 |  |  | $ | 33,250 |
2022 Notes (mature May 2022) | 35,000 |  |  | 125,000 |
2023 Notes (mature September 2023) | 30,000 |  |  | 125,000 |
2026 Notes (mature February 2026) | 200,000 |  |  | — |
MARAD Debt (matures February 2027) | 56,410 |  |  | 63,610 |
Nordea Q5000 Loan (matures January 2021) (1) | 53,572 |  |  | 89,286 |
Unamortized debt discounts | (45,692) |  |  | (22,540) |
Unamortized debt issuance costs | (9,477) |  |  | (7,753) |
Total debt | 349,563 |  |  | 405,853 |
Less current maturities | (90,651) |  |  | (99,731) |
Long-term debt | $ | 258,912 |  |  | $ | 306,122 |
(1)We repaid the Nordea Q5000 Loan in January 2021.
Schedule of maturities of long-term debt outstanding | Scheduled maturities of our long-term debt outstanding as of December 31, 2020 are as follows (in thousands):
| Term Loan |  | 2022 Notes |  | 2023 Notes |  | 2026 Notes |  | MARAD Debt |  | Nordea Q5000 Loan |  | Total
Less than one year | $ | 29,750 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7,560 |  |  | $ | 53,572 |  |  | $ | 90,882 |
One to two years | — |  |  | 35,000 |  |  | — |  |  | — |  |  | 7,937 |  |  | — |  |  | 42,937 |
Two to three years | — |  |  | — |  |  | 30,000 |  |  | — |  |  | 8,333 |  |  | — |  |  | 38,333 |
Three to four years | — |  |  | — |  |  | — |  |  | — |  |  | 8,749 |  |  | — |  |  | 8,749 |
Four to five years | — |  |  | — |  |  | — |  |  | — |  |  | 9,186 |  |  | — |  |  | 9,186 |
Over five years | — |  |  | — |  |  | — |  |  | 200,000 |  |  | 14,645 |  |  | — |  |  | 214,645 |
Gross debt | 29,750 |  |  | 35,000 |  |  | 30,000 |  |  | 200,000 |  |  | 56,410 |  |  | 53,572 |  |  | 404,732 |
Unamortized debt discounts (1) | — |  |  | (1,325) |  |  | (2,651) |  |  | (41,716) |  |  | — |  |  | — |  |  | (45,692) |
Unamortized debt issuance costs (2) | (191) |  |  | (198) |  |  | (427) |  |  | (5,572) |  |  | (3,049) |  |  | (40) |  |  | (9,477) |
Total debt | 29,559 |  |  | 33,477 |  |  | 26,922 |  |  | 152,712 |  |  | 53,361 |  |  | 53,532 |  |  | 349,563 |
Less current maturities | (29,559) |  |  | — |  |  | — |  |  | — |  |  | (7,560) |  |  | (53,532) |  |  | (90,651) |
Long-term debt | $ | — |  |  | $ | 33,477 |  |  | $ | 26,922 |  |  | $ | 152,712 |  |  | $ | 45,801 |  |  | $ | — |  |  | $ | 258,912 |
(1)The 2022 Notes, the 2023 Notes and the 2026 Notes will increase to their face amounts through accretion of their debt discounts to interest expense through May 2022, September 2023 and February 2026, respectively. See Note 2 for future accounting changes related to these discounts. (2)Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.
Schedule of components of net interest expense | The following table details the components of our net interest expense (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Interest expense | $ | 30,538 |  |  | $ | 31,186 |  |  | $ | 32,617 |
Capitalized interest (1) | (1,182) |  |  | (20,246) |  |  | (15,629) |
Interest income | (825) |  |  | (2,607) |  |  | (3,237) |
Net interest expense | $ | 28,531 |  |  | $ | 8,333 |  |  | $ | 13,751 |
(1)The significant reduction in capitalized interest in 2020 was attributable to the conclusion of our planned major capital commitments following the completion of the Q7000.

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