XML 53 R38.htm IDEA: XBRL DOCUMENT v3.22.4
DEBT (Tables)
12 Months Ended
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,
20222021
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, net591,059 589,029 
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, net491,960 490,048 
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 Notes526,230 521,082 
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,
202220212020
Coupon interest expense$10,465 $10,465 $12,350 
Accretion of discount on convertible notes3,349 3,339 14,682 
Amortization of debt issuance costs593 593 1,829 
Total interest expense on convertible debt$14,407 $14,397 $28,861