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Debt (Tables)
 9 Months Ended
Sep. 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 NotesMay 19, 2025May 15, 2033
(1)
$1,725,000 0.250 %0.484 %
2029 NotesAugust 18, 2023February 15, 2029$1,265,000 1.125 %1.388 %
2027 NotesAugust 16, 2019September 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 September 30, 2025 are as follows:

NotesConversion Date
Conversion Rate (1)
Conversion Price per Share (1)
2033 NotesJanuary 15, 203310.7513$93.01 
2029 NotesOctober 15, 20287.9170$126.31 
2027 NotesMay 1, 20278.6073$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 September 30, 2025 and December 31, 2024 (in thousands):

2033 Notes2029 Notes
2027 Notes
2025 Notes
Total
As of September 30, 2025
Principal$1,725,000 $1,265,000 $1,150,000 $— $4,140,000 
Less: issuance costs, net of amortization(22,371)(10,983)(3,540)— (36,894)
Net carrying amount$1,702,629 $1,254,017 $1,146,460 $— $4,103,106 
Estimated fair value (1)
$1,724,293 $1,187,215 $1,103,494 $— $4,015,002 
As of December 31, 2024
Principal$— $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 Notes2029 Notes2027 Notes
Note hedge transaction costs$605,820 $236,555 $312,225 
Shares covered by note hedge transactions18,546 10,015 9,898 
Shares related to warrant transactions18,546 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 nine months ended September 30, 2025 and 2024 was as follows (in thousands):
For the Three Months
Ended September 30,		For the Nine Months
Ended September 30,
2025202420252024
Amortization of debt issuance costs$2,357 $1,952 $6,338 $5,847 
Coupon interest payable on 2033 Notes1,078 — 1,569 — 
Coupon interest payable on 2029 Notes3,558 3,558 10,674 10,674 
Coupon interest payable on 2027 Notes1,078 1,078 3,234 3,234 
Coupon interest payable on 2025 Notes— 359 483 1,077 
Interest payable and commitment fees under the credit agreements275 149 1,730 464 
Capitalization of interest expense(431)(361)(1,162)(914)
Total interest expense$7,915 $6,735 $22,866 $20,382