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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2022
Debt Disclosure [Abstract] |
Schedule of Senior Subordinated Convertible Obligations | 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:
| December 31,
| 2022 |  | 2021
1.250% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | $ | 600,000 |  |  | $ | 600,000 |
Unamortized discount net of deferred offering costs | (8,941) |  |  | (10,971) |
2027 Notes, net | 591,059 |  |  | 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 | (3,040) |  |  | (4,952) |
2024 Notes, net | 491,960 |  |  | 490,048 |
Total convertible debt, net | $ | 1,083,019 |  |  | $ | 1,079,077 |
Fair value of fixed-rate convertible debt (1): |  |  |
2027 Notes | $ | 647,370 |  |  | $ | 625,122 |
2024 Notes | 526,230 |  |  | 521,082 |
Total fair value of fixed-rate convertible debt | $ | 1,173,600 |  |  | $ | 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. See Note 1 to these Consolidated Financial Statements for additional discussion of fair value measurements.
Schedule of Interest Expense on Debt | Interest expense on the Company’s fixed-rate convertible debt consisted of the following:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Coupon interest expense | $ | 10,465 |  |  | $ | 10,465 |  |  | $ | 12,350 |
Accretion of discount on convertible notes | 3,349 |  |  | 3,339 |  |  | 14,682 |
Amortization of debt issuance costs | 593 |  |  | 593 |  |  | 1,829 |
Total interest expense on convertible debt | $ | 14,407 |  |  | $ | 14,397 |  |  | $ | 28,861 |

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