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DEBT (Tables)
9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Summary of Convertible Debt The following table summarizes information regarding the Company’s convertible debt:
September 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(11,478)(12,995)
2027 Notes, net588,522 587,005 
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
495,000 495,000 
Unamortized discount net of deferred offering costs(5,429)(6,860)
2024 Notes, net489,571 488,140 
Total convertible debt, net$1,078,093 $1,075,145 
Fair value of fixed rate convertible debt (1):
2027 Notes
$600,858 $627,090 
2024 Notes
510,954 530,714 
Total fair value of fixed rate convertible debt$1,111,812 $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
September 30,
Nine Months Ended September 30,
2021202020212020
Coupon interest expense$2,617 $4,255 $7,849 $9,443 
Accretion of discount on convertible notes835 4,696 2,503 13,201 
Amortization of debt issuance costs148 535 445 1,565 
Total interest expense on convertible debt$3,600 $9,486 $10,797 $24,209