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INDEBTEDNESS (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Net Carrying Amount of Convertible Notes | The following table summarizes the Company's Notes as of March 31, 2025 (in thousands):
| Principal Outstanding |  | Unamortized Debt Issuance Costs |  | Net Carrying Value
2026 Senior Notes | $ | 1,000,000 |  |  | $ | (3,292) |  |  | $ | 996,708 |
2031 Senior Notes | 1,000,000 |  |  | (8,684) |  |  | 991,316 |
2032 Senior Notes | 2,000,000 |  |  | (24,314) |  |  | 1,975,686 |
2026 Convertible Notes | 575,000 |  |  | (1,856) |  |  | 573,144 |
2027 Convertible Notes | 575,000 |  |  | (3,469) |  |  | 571,531 |
Total | $ | 5,150,000 |  |  | $ | (41,615) |  |  | $ | 5,108,385 |
The following table summarizes the Company's Notes as of December 31, 2024 (in thousands):
| Principal Outstanding |  |  |  | Unamortized Debt Issuance Costs |  | Net Carrying Value
2026 Senior Notes | $ | 1,000,000 |  |  |  |  | $ | (3,983) |  |  | $ | 996,017 |
2031 Senior Notes | 1,000,000 |  |  |  |  | (9,029) |  |  | 990,971 |
2032 Senior Notes | 2,000,000 |  |  |  |  | (24,974) |  |  | 1,975,026 |
2025 Convertible Notes (i) | 1,000,000 |  |  |  |  | (503) |  |  | 999,497 |
2026 Convertible Notes | 575,000 |  |  |  |  | (2,277) |  |  | 572,723 |
2027 Convertible Notes | 575,000 |  |  |  |  | (3,798) |  |  | 571,202 |
Total | $ | 6,150,000 |  |  |  |  | $ | (44,564) |  |  | $ | 6,105,436 |
(i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet.
Interest Expense on Convertible Notes | The Company recognized interest expense on the Notes as follows (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Contractual interest expense | $ | 48,380 |  |  | $ | 16,130 |  |  |  |  |
Amortization of debt issuance costs | 2,949 |  |  | 2,562 |  |  |  |  |
Total | $ | 51,329 |  |  | $ | 18,692 |  |  |  |  |
Amounts Drawn on Facilities by Year of Maturity | The table below summarizes the future scheduled principal payments of amounts drawn on the Company's Warehouse Facilities (in thousands):
| March 31, 2025
2026 | $ | 290,989 |
2027 | 328,010 |
Total | $ | 618,999 |

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