Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.20.2
Debt (Tables)
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of convertible debt obligations
The Company’s outstanding debt obligations as of September 30, 2020 and December 31, 2019 were as follows: 
  September 30, December 31,
  2020 2019
Revolving credit facility balance $ —  $ 260,000 
Convertible Notes due 2023 $ 345,000  $ 345,000 
Unaccreted discount on Convertible Notes due 2023 (26,444) (33,491)
Unamortized issuance costs on Convertible Notes due 2023 (4,733) (5,996)
Convertible Notes due 2023 carrying value(1)
$ 313,823  $ 305,513 
Convertible Notes due 2025 $ 517,500  $ — 
Unaccreted discount on Convertible Notes due 2025 (69,104) — 
Unamortized issuance costs on Convertible Notes due 2025 (12,301) — 
Convertible Notes due 2025 carrying value(2)
$ 436,095  $ — 
(1) The effective interest rate on the liability component of the Convertible Notes due 2023 was 6% for the three and nine months ended September 30, 2020 and 2019.
(2) The effective interest rate on the liability component of the Convertible Notes due 2025 was 4% for the three months ended September 30, 2020.
Schedule of interest expense
Interest expense was comprised of the following and is included in other expense, net in the condensed consolidated statement of operations:
  Three Months Ended Nine Months Ended
  September 30, September 30,
  2020 2019 2020 2019
Accretion of debt discount $ 3,816  $ 3,846  $ 8,496  $ 11,388 
Interest on revolving credit facility 1,259  1,529  5,786  2,725 
Coupon interest 1,951  2,264  4,962  6,792 
Amortization of issuance costs 922  1,160  2,186  2,880 
Undrawn and other fees 191  187  477  560 
 Total interest expense $ 8,139  $ 8,986  $ 21,907  $ 24,345