v3.22.2.2
Convertible Senior Notes, Net (Tables)
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Convertible Senior Notes
The following table summarizes the terms of the Convertible Notes as of September 30, 2022 ($ in thousands):
Principal AmountCoupon Rate
Effective Rate (1)
Conversion Rate (2)
Maturity DateRemaining Period of Amortization
2023 Notes230,000 5.38 %5.85 %48.7187 10/15/20231.04
Total$230,000 
The following table summarizes the terms of the Convertible Notes as of December 31, 2021 ($ in thousands):
Principal AmountCoupon Rate
Effective Rate (1)
Conversion Rate (2)
Maturity DateRemaining Period of Amortization
2022 Notes$345,000 4.75 %5.60 %50.2260 8/23/20220.64
2023 Notes230,000 5.38 %6.16 %48.7187 10/15/20231.79
Total$575,000 
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(1)Effective rate includes the effect of the adjustment for the conversion option (See footnote (2) below), the value of which reduced the initial liability and was recorded in additional paid-in-capital. The effective rate as of September 30, 2022 reflects adoption of ASU 2020-06 "Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity".
(2)We have the option to settle any conversions in cash, shares of common stock or a combination thereof. The conversion rate represents the number of shares of common stock issuable per one thousand principal amount of the Convertible Notes converted, and includes adjustments relating to cash dividend payments made by us to stockholders that have been deferred and carried-forward in accordance with, and are not yet required to be made pursuant to, the terms of the applicable supplemental indenture.