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DEBT AND FINANCING ARRANGEMENTS (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Convertible Debt | The net carrying amount of the liability component of the Notes was as follows (in thousands), giving effect to the adoption of ASU 2020-06 on January 1, 2022:
| December 31, 2021 |  | June 30, 2022
Principal | $ | 230,000 |  |  | $ | 230,000 |
Minus: Unamortized debt discount | (41,098) |  |  | — |
Minus: Unamortized issuance costs | (4,504) |  |  | (4,686) |
Net carrying amount of the liability component | $ | 184,398 |  |  | $ | 225,314 |
Prior to the adoption of ASU 2020-06, the net carrying amount of the equity component of the Notes was as follows (in thousands):
| December 31, 2021
Proceeds allocated to the conversion options (debt discount) | $ | 53,096 |
Minus: Issuance costs | (1,680) |
Net carrying amount of the equity component | $ | 51,416 |
Interest expense recognized related to the Notes is as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2022 |  | 2021 |  | 2022
Contractual interest expense (due in cash) | $ | 575 |  |  | $ | 575 |  |  | $ | 1,150 |  |  | $ | 1,150 |
Amortization of debt discount | 2,359 |  |  | — |  |  | 4,680 |  |  | — |
Amortization of debt issuance costs | 215 |  |  | 365 |  |  | 422 |  |  | 730 |
Total interest expense related to the Notes | $ | 3,149 |  |  | $ | 940 |  |  | $ | 6,252 |  |  | $ | 1,880 |
Effective interest rate | 5.48 | % |  | 1.64 | % |  | 5.44 | % |  | 1.64 | %

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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- References No definition available. + Details
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