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DEBT (Tables) | 12 Months Ended
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Dec. 31, 2023
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,
| 2023 |  | 2022
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) | $ | 495,000 |  |  | $ | 495,000 |
Unamortized discount net of deferred offering costs | (1,123) |  |  | (3,040) |
2024 Notes, net (1) | 493,877 |  |  | 491,960 |
1.250% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | 600,000 |  |  | 600,000 |
Unamortized discount net of deferred offering costs | (6,905) |  |  | (8,941) |
2027 Notes, net | 593,095 |  |  | 591,059 |
Total convertible debt, net | $ | 1,086,972 |  |  | $ | 1,083,019 |
Fair value of fixed-rate convertible debt (2): |  |  |
2024 Notes | $ | 488,288 |  |  | $ | 526,230 |
2027 Notes | 619,260 |  |  | 647,370 |
Total fair value of fixed-rate convertible debt | $ | 1,107,548 |  |  | $ | 1,173,600 |
(1)As the 2024 Notes mature in August 2024, the outstanding principal of the 2024 Notes is classified as a current liability as of December 31, 2023. (2)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 Fixed-Rate Convertible Debt | Interest expense on the Company’s fixed-rate convertible debt consisted of the following:
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Coupon interest expense | $ | 10,465 |  |  | $ | 10,465 |  |  | $ | 10,465 |
Accretion of discount on convertible notes | 3,359 |  |  | 3,349 |  |  | 3,339 |
Amortization of debt issuance costs | 594 |  |  | 593 |  |  | 593 |
Total interest expense on convertible debt | $ | 14,418 |  |  | $ | 14,407 |  |  | $ | 14,397 |

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