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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Summary of Convertible Debt | The following table summarizes information regarding the Company’s convertible debt:
| June 30, 2022 |  | December 31, 2021
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | $ | 600,000 |  |  | $ | 600,000 |
Unamortized discount net of deferred offering costs | (9,957) |  |  | (10,971) |
2027 Notes, net | 590,043 |  |  | 589,029 |
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) | 495,000 |  |  | 495,000 |
Unamortized discount net of deferred offering costs | (3,996) |  |  | (4,952) |
2024 Notes, net | 491,004 |  |  | 490,048 |
Total convertible debt, net | $ | 1,081,047 |  |  | $ | 1,079,077 |
Fair value of fixed-rate convertible debt (1): |  |  |
2027 Notes | $ | 602,436 |  |  | $ | 625,122 |
2024 Notes | 490,401 |  |  | 521,082 |
Total fair value of fixed-rate convertible debt | $ | 1,092,837 |  |  | $ | 1,146,204 |
(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 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Coupon interest expense | $ | 2,617 |  |  | $ | 2,616 |  |  | $ | 5,233 |  |  | $ | 5,232 |
Accretion of discount on convertible notes | 837 |  |  | 834 |  |  | 1,673 |  |  | 1,668 |
Amortization of debt issuance costs | 148 |  |  | 148 |  |  | 297 |  |  | 296 |
Total interest expense on convertible debt | $ | 3,602 |  |  | $ | 3,598 |  |  | $ | 7,203 |  |  | $ | 7,196 |

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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