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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Convertible Debt | The following table summarizes information regarding the Company’s convertible debt:
| June 30, 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 | (7,924) |  |  | (8,941) |
2027 Notes, net | 592,076 |  |  | 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 | (2,082) |  |  | (3,040) |
2024 Notes, net | 492,918 |  |  | 491,960 |
Total convertible debt, net | $ | 1,084,994 |  |  | $ | 1,083,019 |
Fair value of fixed-rate convertible debt (1): |  |  |
2027 Notes | $ | 606,984 |  |  | $ | 647,370 |
2024 Notes | 486,887 |  |  | 526,230 |
Total fair value of fixed-rate convertible debt | $ | 1,093,871 |  |  | $ | 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 June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Coupon interest expense | $ | 2,617 |  |  | $ | 2,617 |  |  | $ | 5,233 |  |  | $ | 5,233 |
Accretion of discount on convertible notes | 834 |  |  | 837 |  |  | 1,673 |  |  | 1,673 |
Amortization of debt issuance costs | 149 |  |  | 148 |  |  | 297 |  |  | 297 |
Total interest expense on convertible debt | $ | 3,600 |  |  | $ | 3,602 |  |  | $ | 7,203 |  |  | $ | 7,203 |

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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