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DEBT
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
DEBT DEBT
Convertible Notes
As of June 30, 2022, the Company had outstanding fixed-rate notes with varying maturities for an undiscounted aggregate principal amount of $1.1 billion (collectively the Notes). The Notes are senior subordinated convertible obligations, and interest is payable in arrears, semi-annually. 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, net590,043 589,029 
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, net491,004 490,048 
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.
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Coupon interest expense$2,617 $2,616 $5,233 $5,232 
Accretion of discount on convertible notes837 834 1,673 1,668 
Amortization of debt issuance costs148 148 297 296 
Total interest expense on convertible debt$3,602 $3,598 $7,203 $7,196 
See Note 10 - Debt included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 for additional information related to the Company’s convertible debt.
Revolving Credit Facility
In October 2018, the Company entered into an unsecured revolving credit facility of up to $200.0 million which includes a letter of credit subfacility and a swingline loan subfacility. The credit facility is intended to finance ongoing working capital needs and for other general corporate purposes. In May 2021, the Company entered into an amendment agreement in respect of the credit facility, extending the maturity date from October 19, 2021 to May 28, 2024, among other changes. The amended credit facility contains financial covenants including a maximum leverage ratio and a minimum interest coverage ratio. As of June 30, 2022, there were no amounts outstanding under the credit facility and the Company and certain of its subsidiaries that serve as guarantors were in compliance with all covenants.