XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Convertible Senior Notes | The following table summarizes further details of the Notes:
Notes |  | Issuance Date |  | Maturity Date |  | Principal Amount (in thousands) |  | Coupon Interest Rate |  | Effective Interest Rate
2033 Notes |  | May 19, 2025 |  | May 15, 2033 | (1) |  | $ | 1,725,000 |  |  | 0.250 | % |  | 0.483 | %
2029 Notes |  | August 18, 2023 |  | February 15, 2029 |  |  | $ | 1,265,000 |  |  | 1.125 | % |  | 1.388 | %
2027 Notes |  | August 16, 2019 |  | September 1, 2027 |  |  | $ | 1,150,000 |  |  | 0.375 | % |  | 0.539 | %
(1) Holders of the 2033 Notes have the right to require the Company to repurchase for cash all or a portion of their 2033 Notes on May 15, 2031 if the last reported sale price of the Company’s common stock on the trading day immediately preceding the business day immediately preceding May 15, 2031 is less than the conversion price per share. The repurchase price will be equal to 100% of the principal amount of the 2033 Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the optional repurchase date. The conversion rights for the outstanding Notes as of June 30, 2025 are as follows:
Notes |  | Conversion Date |  | Conversion Rate (1) |  | Conversion Price per Share (1) |  |
2033 Notes |  | January 15, 2033 |  | 10.7513 |  | $ | 93.01 |  |  |
2029 Notes |  | October 15, 2028 |  | 7.9170 |  | $ | 126.31 |  |  |
2027 Notes |  | May 1, 2027 |  | 8.6073 |  | $ | 116.18 |  |  |
(1) The conversion rate for the Notes is established as a number of shares of the Company's commons stock per $1,000 principal amount of the Notes, that is equivalent to the conversion price per share, subject to adjustments in certain events. Upon the occurrence of certain corporate events the Company will increase the conversion rate for a holder that elects to convert its Notes. The Notes consisted of the following components as of June 30, 2025 and December 31, 2024 (in thousands):
| 2033 Notes |  | 2029 Notes |  | 2027 Notes |  | 2025 Notes |  | Total
As of June 30, 2025 |  |  |  |  |  |  |  |  |
Principal | $ | 1,725,000 |  |  | $ | 1,265,000 |  |  | $ | 1,150,000 |  |  | $ | — |  |  | $ | 4,140,000 |
Less: issuance costs, net of amortization | (23,237) |  |  | (11,776) |  |  | (4,010) |  |  | — |  |  | (39,023) |
Net carrying amount | $ | 1,701,763 |  |  | $ | 1,253,224 |  |  | $ | 1,145,990 |  |  | $ | — |  |  | $ | 4,100,977 |
Estimated fair value (1) | $ | 1,783,184 |  |  | $ | 1,200,498 |  |  | $ | 1,117,593 |  |  | $ | — |  |  | $ | 4,101,275 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |
Principal | $ | — |  |  | $ | 1,265,000 |  |  | $ | 1,150,000 |  |  | $ | 1,150,000 |  |  | $ | 3,565,000 |
Less: issuance costs, net of amortization | — |  |  | (13,354) |  |  | (4,951) |  |  | (884) |  |  | (19,189) |
Net carrying amount | $ | — |  |  | $ | 1,251,646 |  |  | $ | 1,145,049 |  |  | $ | 1,149,116 |  |  | $ | 3,545,811 |
Estimated fair value (1) | $ | — |  |  | $ | 1,239,068 |  |  | $ | 1,155,865 |  |  | $ | 1,219,345 |  |  | $ | 3,614,278 |
(1) The fair values were determined based on the quoted prices of the Notes in an inactive market on the last trading day of the reporting period and have been classified as Level 2 within the fair value hierarchy. The following table summarizes the main terms impacting the note hedges and warrants (in thousands, except per share data):
| 2033 Notes |  | 2029 Notes |  | 2027 Notes |  |
Note hedge transaction costs | $ | 605,820 |  |  | $ | 236,555 |  |  | $ | 312,225 |  |  |
Shares covered by note hedge transactions | 18,546 |  |  | 10,015 |  |  | 9,898 |  |  |
Shares related to warrant transactions | 18,546 |  |  | 10,015 |  |  | 9,898 |  |  |
Strike price per share related to warrant transactions | $ | 155.02 |  |  | $ | 180.44 |  |  | $ | 178.74 |  |  |
Aggregate proceeds from sale of warrants | $ | 330,855 |  |  | $ | 90,195 |  |  | $ | 185,150 |  |  |
Schedule of Interest Expense | Interest expense, together with ongoing commitment fees under the terms of the Company's credit agreements, included in the interim condensed consolidated statements of income for the three and six months ended June 30, 2025 and 2024 was as follows (in thousands):
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Amortization of debt issuance costs | $ | 2,022 |  |  | $ | 1,949 |  |  | $ | 3,981 |  |  | $ | 3,895 |
Coupon interest payable on 2033 Notes | 491 |  |  | — |  |  | 491 |  |  | — |
Coupon interest payable on 2029 Notes | 3,558 |  |  | 3,558 |  |  | 7,116 |  |  | 7,116 |
Coupon interest payable on 2027 Notes | 1,078 |  |  | 1,078 |  |  | 2,156 |  |  | 2,156 |
Coupon interest payable on 2025 Notes | 124 |  |  | 359 |  |  | 483 |  |  | 718 |
Interest payable and commitment fees under the credit agreements | 1,305 |  |  | 174 |  |  | 1,455 |  |  | 315 |
Capitalization of interest expense | (377) |  |  | (289) |  |  | (731) |  |  | (553) |
Total interest expense | $ | 8,201 |  |  | $ | 6,829 |  |  | $ | 14,951 |  |  | $ | 13,647 |

X
- Definition Schedule Of Interest Expense [Table Text Block] + References No definition available. + Details
Name: | akam_ScheduleOfInterestExpenseTableTextBlock
Namespace Prefix: | akam_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration