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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Liability Interest Expense | Interest expense related to the liability for the year ended December 31, 2020 were as follows:
| Year Ended 12/31/2020
Amortization of debt issuance costs | $ | 1,687 |
Interest expense | 3,848 |
Total interest expense recognized | $ | 5,535 |
Effective interest rate | 2.11 | %
Interest expense related to the Notes is reflected on the accompanying consolidated statements of income as follows:
| 2020 Notes | 2017 Notes
| Year Ended December 31, | Year Ended December 31,
| 2022 |  | 2021 | 2020 |  | 2022 |  | 2021 |  | 2020
Amortization of debt issuance costs | $ | 1,693 |  |  | $ | 1,485 |  | $ | 492 |  |  | $ | 303 |  |  | $ | 608 |  |  | $ | 820 |
Non-cash amortization of debt discount | — |  |  | 6,471 |  | 2,165 |  |  | 2,587 |  |  | 5,986 |  |  | 7,483 |
Interest expense | — |  |  | — |  | — |  |  | 1,127 |  |  | 1,891 |  |  | 3,594 |
Loss in respect of convertible loan extinguishment | — |  |  | — |  | — |  |  | 1,206 |  |  | 13,969 |  |  | — |
Total interest expense recognized | $ | 1,693 |  |  | $ | 7,956 |  | $ | 2,657 |  |  | $ | 5,223 |  |  | $ | 22,454 |  |  | $ | 11,897 |
Effective interest rate | 0.37 | % |  | 1.87 | % | 1.87 | % |  | 4.65 | % |  | 4.68 | % |  | 4.68 | %
Schedule of Outstanding Exchangeable Note | The following table summarizes some key facts and terms regarding the outstanding Notes:
| Due 2025 |  | Due 2024
Issuance date | August 27, 2020 |  | January 18, 2017
Maturity date | September 15, 2025 |  | January 15, 2024
Effective conversion date | June 15, 2025 |  | September 15, 2023
Principal amount | $460,000 |  | $90,055
Cash coupon rate (per annum) | —% |  | 1.25%
Conversion rate effective (per $1000 principal amount) | $3.34 |  | $12.05
Effective conversion price (per ADS) | $299.19 |  | $82.96
Schedule of Carrying Values | The carrying values of the liability and equity components of the Notes are reflected in the Company's accompanying consolidated balance sheets as follows:
| 2020 Notes |  | 2017 Notes
| December 31, |  | December 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
Principal | $ | 460,000 |  |  | $ | 460,000 |  |  | $ | 90,055 |  |  | $ | 110,187 |
Conversion option (Level 2) | — |  |  |  |  | 122,323 |  |  | $ | 292,940 |
Less: |  |  |  |  |  |  |
Debt issuance costs, net of amortization | (4,618) |  |  | (5,975) |  |  | (335) |  |  | (780) |
Unamortized discount | — |  |  | (24,758) |  |  | (2,751) |  |  | (6,401) |
Net liability carrying amount | $ | 455,382 |  |  | $ | 429,267 |  |  | $ | 209,292 |  |  | $ | 395,946 |
Equity component - net carrying value | $ | — |  |  | $ | 32,746 |  |  | $ | — |  |  | $ | — |

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