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DEBT (Tables)
6 Months Ended
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, net592,076 591,059 
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, net492,918 491,960 
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,
2023202220232022
Coupon interest expense$2,617 $2,617 $5,233 $5,233 
Accretion of discount on convertible notes834 837 1,673 1,673 
Amortization of debt issuance costs149 148 297 297 
Total interest expense on convertible debt$3,600 $3,602 $7,203 $7,203