XML 39 R25.htm IDEA: XBRL DOCUMENT v3.24.1.u1
DEBT (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Convertible Debt The following table summarizes information regarding the Company’s convertible debt:
March 31,
2024		December 31,
2023
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
$495,000 $495,000 
Unamortized discount net of deferred offering costs(643)(1,123)
2024 Notes, net (1)
494,357 493,877 
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes)
600,000 600,000 
Unamortized discount net of deferred offering costs(6,395)(6,905)
2027 Notes, net
593,605 593,095 
Total convertible debt, net$1,087,962 $1,086,972 
Fair value of fixed-rate convertible debt (2):
2024 Notes
$487,055 $488,288 
2027 Notes
596,622 619,260 
Total fair value of fixed-rate convertible debt$1,083,677 $1,107,548 
(1)    As the 2024 Notes mature in August 2024, the outstanding principal of the 2024 Notes is classified as a current liability as of March 31, 2024.
(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. 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, 2023.
Schedule of Interest Expense on Convertible Debt
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
March 31,
20242023
Coupon interest expense$2,616 $2,616 
Accretion of discount on convertible notes841 839 
Amortization of debt issuance costs149 148 
Total interest expense on convertible debt$3,606 $3,603