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DEBT (Tables)
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Summary of Convertible Debt The following table summarizes information regarding the Company’s convertible debt:
June 30,
2021
December 31,
2020
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes)
$600,000 $600,000 
Unamortized discount net of deferred offering costs(11,984)(12,995)
2027 Notes, net588,016 587,005 
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
495,000 495,000 
Unamortized discount net of deferred offering costs(5,906)(6,860)
2024 Notes, net489,094 488,140 
Total convertible debt, net$1,077,110 $1,075,145 
Fair value of fixed rate convertible debt (1):
2027 Notes
$604,026 $627,090 
2024 Notes
515,745 530,714 
Total fair value of fixed rate convertible debt$1,119,771 $1,157,804 
(1)    The fair value of the Company’s fixed-rate convertible debt is based on open market trades and is classified as Level 1 in the fair value hierarchy. For additional discussion of fair value measurements, see Note 3 – Summary of Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Summary of Interest Expense on Debt
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
June 30,
Six Months Ended June 30,
2021202020212020
Coupon interest expense$2,616 $3,016 $5,232 $5,188 
Accretion of discount on convertible notes834 4,395 1,668 8,505 
Amortization of debt issuance costs148 522 296 1,030 
Total interest expense on convertible debt$3,598 $7,933 $7,196 $14,723