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DEBT | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
DEBT | DEBT Convertible Notes As of September 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:
| September 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 | (9,449) |  |  | (10,971) |
2027 Notes, net | 590,551 |  |  | 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 | (3,518) |  |  | (4,952) |
2024 Notes, net | 491,482 |  |  | 490,048 |
Total convertible debt, net | $ | 1,082,033 |  |  | $ | 1,079,077 |
Fair value of fixed-rate convertible debt (1): |  |  |
2027 Notes | $ | 601,488 |  |  | $ | 625,122 |
2024 Notes | 491,213 |  |  | 521,082 |
Total fair value of fixed-rate convertible debt | $ | 1,092,701 |  |  | $ | 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 September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Coupon interest expense | $ | 2,616 |  |  | $ | 2,617 |  |  | $ | 7,849 |  |  | $ | 7,849 |
Accretion of discount on convertible notes | 838 |  |  | 835 |  |  | 2,511 |  |  | 2,503 |
Amortization of debt issuance costs | 148 |  |  | 148 |  |  | 445 |  |  | 445 |
Total interest expense on convertible debt | $ | 3,602 |  |  | $ | 3,600 |  |  | $ | 10,805 |  |  | $ | 10,797 |
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 September 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.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 + Details
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