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FINANCING ARRANGEMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Notes
The carrying amount of the 2026 Notes consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):
September 30, 2023December 31, 2022
Principal amount$230,000 $230,000 
Less: debt discount(3,919)(5,077)
Net carrying amount of liability$226,081 $224,923 
Schedule of Interest Costs on Notes
During the three and nine months ended September 30, 2023 and 2022, we recognized interest costs on the 2026 Notes as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2023202220232022
Contractual interest$647 $646 $1,941 $1,940 
Amortization of debt discount388 380 1,158 1,137 
Total $1,035 $1,026 $3,099 $3,077 
Schedule of Amounts Committed to Outstanding Borrowings and Letters of Credit
Amounts committed to outstanding borrowings and letters of credit under our Existing Credit Agreement as of September 30, 2023 and our Amended Credit Agreement as of December 31, 2022 were as follows (in thousands):
September 30, 2023December 31, 2022
Borrowings$46,700 $75,000 
Letters of credit (1)
25,914 24,900 

(1) Under the Existing Credit Agreement, cash collateral is required when letters of credit extend beyond the maturity date of May 14, 2024. This cash is treated as restricted cash on the Condensed Consolidated Balance Sheets. See Note 4, Supplemental Condensed Consolidated Balance Sheets and Statements of Operations Information for additional information.