Debt (Tables)

12 Months Ended

Dec. 31, 2021

The following table summarizes the Company’s outstanding debt (in thousands):


	As of December 31, 2020		Effective Interest Rate		As of December 31, 2021		Effective Interest Rate
Convertible senior notes due March 2026	$	—	—	%	$	2,000,000	0.2	%
First lien loan due April 2025	995,000		9.5	%	—		—	%
Second lien loan due July 2025	1,000,000		15.1	%	—		—	%
Total debt	1,995,000				2,000,000
Less: Unamortized debt discount and debt issuance costs	(169,438)				(17,463)
Less: Current portion of long-term debt	(10,000)				—
Total long-term debt, net of current portion	$	1,815,562			$	1,982,537

Schedule of Maturities of Long-term Debt

The future principal payments for the Company’s long-term debt as of December 31, 2021 are summarized as follows (in thousands):


Year Ending December 31,	Amount
2022	$	—
2023	—
2024	—
2025	—
2026	2,000,000
Total	$	2,000,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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