XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Convertible Debt The following table summarizes information regarding the Company’s convertible debt:
March 31,
2023		December 31,
2022
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes)
$600,000 $600,000 
Unamortized discount net of deferred offering costs(8,433)(8,941)
2027 Notes, net591,567 591,059 
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
495,000 495,000 
Unamortized discount net of deferred offering costs(2,561)(3,040)
2024 Notes, net492,439 491,960 
Total convertible debt, net$1,084,006 $1,083,019 
Fair value of fixed-rate convertible debt (1):
2027 Notes
$623,616 $647,370 
2024 Notes
507,355 526,230 
Total fair value of fixed-rate convertible debt$1,130,971 $1,173,600 
(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 to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Schedule of Interest Expense on Debt
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
March 31,
20232022
Coupon interest expense$2,616 $2,616 
Accretion of discount on convertible notes839 836 
Amortization of debt issuance costs148 148 
Total interest expense on convertible debt$3,603 $3,600