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Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

As of December 31, 2021 and 2020, long-term debt consisted of the following (in thousands):

			2021						2020
Revolving credit facilities(1)			$	—					$	18,408
2026 Notes(2)			131,291						—
2023 Notes(3)			25,802						143,242
Promissory note			17,534						17,095
Other debt and finance lease obligations			4,123						4,792
Total debt			178,750						183,537
Less: Current portion			(18,262)						(17,778)
Total long-term debt			$	160,488					$	165,759

____________________

(1)Presented net of $0.6 million of unamortized deferred financing costs as of December 31, 2020. Unamortized deferred financing costs of $2.7 million as of December 31, 2021 are presented in Other noncurrent assets.

(2)The outstanding principal amount of the 2026 Notes was $135.0 million as of December 31, 2021.

(3)The outstanding principal amount of the 2023 Notes was $26.0 million and $157.4 million as of December 31, 2021 and December 31, 2020, respectively.

The following table provides details with respect to the carrying amount of the 2023 Notes in the consolidated balance sheets as of December 31, 2021 and 2020 (in thousands):

			2021						2020
Principal amount of the liability component			$	25,969					$	157,369
Less: Unamortized discount			—						12,308
Less: Unamortized issuance costs			167						1,819
Net carrying amount of the liability component			$	25,802					$	143,242
Net carrying amount of the equity component			n.a.						$	25,683

The following table provides a summary of the Company's purchases of outstanding 2023 Notes during the years ended December 31, 2021, 2020 and 2019, with non-cash gains reported within Other income, net (in thousands):

			Principal Amount						Carrying Value of Liability						Cash Paid						Non-cash Gains Recognized
2021			$	131,400					$	129,974					$	125,952					$	4,022
2020			34,881						30,799						20,078						10,721
2019			7,750						6,724						6,724						—

Schedule of Maturities of Long-term Debt

Scheduled maturities of total debt as of December 31, 2021, are as follows (in thousands):

2022			18,262
2023			26,311
2024			485
2025			512
2026			131,806
Thereafter			1,374
			$	178,750

Schedule of Significant Provisions of Our Revolving Credit Facility

The following provides a summary of the more significant provisions of the Company's former revolving credit facility.

			Prior to June 17, 2020						From June 17, 2020 to February 10, 2021
Lender commitments			$350 million						$200 million
Interest rate on outstanding borrowings(1):
LIBOR based borrowings			LIBOR plus a margin of 1.75% to 3.00%						LIBOR plus a margin of 2.50% to 3.75%
Base-rate based borrowings			Base rate plus a margin of 0.75% to 2.00%						Base rate plus a margin of 1.50% to 2.75%
Commitment fees(2)			0.25% to 0.50%						0.375% to 0.50%

____________________

(1)Based on the ratio of the Company's total net funded debt to consolidated EBITDA.

(2)Based on unused commitments under the credit agreement.

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