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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurement of Financial Instruments | The following table presents, for each applicable level within the fair value hierarchy, the Company’s net derivative assets and liabilities, including both current and noncurrent portions, measured at fair value on a recurring basis:
(in thousands) | Level 1 |  | Level 2 |  | Level 3
September 30, 2024 |  |  |  |  |
Total assets | $ | — |  |  | $ | 184,935 |  |  | $ | — |
Total liabilities | — |  |  | — |  |  | — |
December 31, 2023 |  |  |  |  |
Total assets | $ | — |  |  | $ | 97,625 |  |  | $ | — |
Total liabilities | — |  |  | 4,052 |  |  | — |
Long-term Debt, Fair Value | The following table summarizes the carrying values, principal amounts and fair values of these instruments as of the periods indicated:
| September 30, 2024 |  | December 31, 2023
| Carrying Value |  | Principal Amount |  | Fair Value |  | Carrying Value |  | Principal Amount |  | Fair Value
Credit Facility(1) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
5.375% Senior Notes due 2026(2) | 288,115 |  |  | 289,448 |  |  | 288,690 |  |  | 287,408 |  |  | 289,448 |  |  | 285,287 |
7.75% Senior Notes due 2026(2) | — |  |  | — |  |  | — |  |  | 300,000 |  |  | 300,000 |  |  | 304,551 |
6.875% Senior Notes due 2027(2) | — |  |  | — |  |  | — |  |  | 352,619 |  |  | 356,351 |  |  | 356,852 |
8.00% Senior Notes due 2027(2) | 561,976 |  |  | 550,000 |  |  | 566,850 |  |  | 565,063 |  |  | 550,000 |  |  | 568,473 |
3.25% Convertible Senior Notes due 2028(2)(3) | 166,573 |  |  | 170,000 |  |  | 418,342 |  |  | 165,897 |  |  | 170,000 |  |  | 404,124 |
5.875% Senior Notes due 2029(2) | 663,299 |  |  | 700,000 |  |  | 700,726 |  |  | 658,562 |  |  | 700,000 |  |  | 684,705 |
9.875% Senior Notes due 2031(2) | 533,646 |  |  | 500,000 |  |  | 557,490 |  |  | 536,280 |  |  | 500,000 |  |  | 555,625 |
7.00% Senior Notes due 2032(2) | 984,008 |  |  | 1,000,000 |  |  | 1,041,193 |  |  | 982,952 |  |  | 1,000,000 |  |  | 1,030,790 |
6.25% Senior Notes due 2033(2) | 986,642 |  |  | 1,000,000 |  |  | 1,018,607 |  |  | — |  |  | — |  |  | — |
(1) The carrying values of the amounts outstanding under OpCo’s Credit Agreement approximate fair value because its variable interest rates are tied to current market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company. (2) The carrying values include associated unamortized debt issuance costs and any debt discounts or premiums as reflected in the consolidated balance sheets. The fair values are determined using quoted market prices for these debt securities, a Level 1 classification in the fair value hierarchy, and are based on the aggregate principal amount of the senior notes outstanding. (3) The Convertible Senior Notes are subject to certain conditions that allow them to be convertible prior to their maturity and as of September 30, 2024, noteholders have the right to convert during the fourth quarter of 2024. The Company has Capped Call Transactions that cover the aggregate number of shares of Class A Common Stock that underlie the Convertible Senior Notes and would offset any cash payment OpCo is required to make in excess of the principal amount of these notes. Refer to Note 4—Long-Term Debt for additional information on the Convertible Senior Notes and associated Capped Call Transactions.

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