XML 32 R23.htm IDEA: XBRL DOCUMENT v3.22.2
DEBT (Tables)
 6 Months Ended
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, 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.
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,
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