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Unsecured Convertible Senior Notes (Tables)

6 Months Ended

Jun. 30, 2021

Debt Instrument [Line Items]

Summary of unsecured convertible senior notes outstanding

​

​	​	​	​	​	​	​	​	​	​
​	​	Balance as of June 30, 2021
​		2023 Notes			2026 Notes			Total
​	​	(In thousands)
Principal amount	​	$	95,000	​	$	225,030	​	$	320,030
Unamortized debt issuance costs	​		(1,596)	​		(5,849)	​		(7,445)
Total unsecured convertible senior notes, net	​	$	93,404	​	$	219,181	​	$	312,585
​	​	​	​	​	​	​	​	​	​
Fair value of outstanding unsecured convertible senior notes (1)	​	$	104,856	​	$	251,192	​	​	​
​	​	​	​	​	​	​	​	​	​
Amount by which the unsecured convertible senior notes if-converted value exceeds their principal amount	​	$	9,856	​	$	26,162	​	​	​

​

​	​	​	​	​	​	​	​	​	​
​	​	​		​	​	​	​	​	​
​	​	Balance as of December 31, 2020
​		2023 Notes			2026 Notes			Total
​	​	(In thousands)
Principal amount	​	$	95,000	​	$	225,030	​	$	320,030
Unamortized discount	​		(17,101)	​		(60,544)	​		(77,645)
Unamortized issuance costs attributable to liability component	​		(1,481)	​		(4,616)	​		(6,097)
Total unsecured convertible senior notes, net	​	$	76,418	​	$	159,870	​	$	236,288
​	​	​	​	​	​	​	​	​	​
Fair value of outstanding unsecured convertible senior notes (1)	​	$	101,769	​	$	246,779	​	​	​
​	​	​	​	​	​	​	​	​	​
Amount by which the unsecured convertible senior notes if-converted value exceeds their principal amount	​	$	6,769	​	$	21,749	​	​	​
​	​	​	​	​	​	​	​	​	​
Equity component	​	$	25,854	​	$	63,544	​	​	​
Unamortized issuance costs	​		(837)	​		(1,916)	​	​	​
Net carrying amount of equity component (2)	​	$	25,017	​	$	61,628	​	​	​

(1) The fair value is classified as Level 3 due to the limited trading activity for the unsecured convertible senior notes.

(2) Included in the Condensed Consolidated Balance Sheet within additional paid-in capital at December 31, 2020. With adoption of ASU 2020-06 on January 1, 2021, amounts were reclassified to unsecured convertible senior notes, net.

Schedule of future minimum payments of debt

​

​	​	​	​
​		(In thousands)
2021	​	$	—
2022		​	—
2023		​	95,000
2024		​	—
2025		​	—
2026		​	225,030
Total future minimum payments under the convertible senior notes		$	320,030

2023 Unsecured Convertible Senior Notes

Debt Instrument [Line Items]

Schedule of total interest expense recognized

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​

​

​

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Three Months Ended June 30,

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Six Months Ended June 30,

​

​

​

2021

2020

2021

2020

​

​

(In thousands)

​

(In thousands)

Contractual interest expense

​

$

1,484

​

$

3,281

​

$

2,969

​

$

6,563

​

Amortization of debt issuance costs

​

153

​

209

​

303

​

411

​

Amortization of debt discount

​

-

​

2,417

​

—

​

4,748

​

Total

​

$

1,637

​

$

5,907

​

$

3,272

​

$

11,722

​

2026 Unsecured Convertible Senior Notes

Debt Instrument [Line Items]

Schedule of total interest expense recognized

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​

​

​

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​

​

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​

​

​

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Three Months Ended June 30,

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Six Months Ended June 30,

​

​

2021

​

2020

​

2021

​

2020

​

​

(In thousands)

​

(In thousands)

Contractual interest expense

​

$

2,954

​

$

—

​

$

5,907

​

$

—

Amortization of debt issuance costs

​

​

273

​

​

—

​

519

​

—

Total

​

$

3,227

​

$

—

​

$

6,426

​

$

—

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