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DEBT
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
Convertible Notes
As of September 30, 2024, the Company had outstanding fixed-rate convertible notes for an undiscounted aggregate principal amount of $600.0 million. The convertible notes detailed below are senior subordinated convertible obligations, and interest is payable in arrears, semi-annually. The following table summarizes information regarding the Company’s convertible debt:
September 30,
2024		December 31,
2023
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
$— $495,000 
Unamortized discount net of deferred offering costs— (1,123)
2024 Notes, net (1)
— 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(5,373)(6,905)
2027 Notes, net
594,627 593,095 
Total convertible debt, net$594,627 $1,086,972 
Fair value of fixed-rate convertible debt (2):
2024 Notes
$— $488,288 
2027 Notes
571,998 619,260 
Total fair value of fixed-rate convertible debt$571,998 $1,107,548 
(1)    The Company’s convertible notes due in 2024 matured on August 1, 2024. Substantially all holders of the 2024 Notes were repaid with cash, totaling approximately $495.0 million. No gain or loss was incurred upon the extinguishment.
(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.
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Coupon interest expense$2,456 $2,616 $7,689 $7,849 
Accretion of discount on convertible notes606 841 2,290 2,519 
Amortization of debt issuance costs67 148 364 445 
Total interest expense on convertible debt$3,129 $3,605 $10,343 $10,813 
See Note 10 - Debt 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 for additional information related to the Company’s convertible debt.

Revolving Credit Facility
In August 2024, the Company entered into an unsecured revolving credit facility providing for $600.0 million in revolving loan commitments. The credit facility is intended to finance ongoing working capital needs and for other general corporate purposes. The credit facility contains financial covenants including a maximum total net leverage ratio and a minimum interest coverage ratio. The credit facility matures in August 2029. As of September 30, 2024, there were no amounts outstanding under the credit facility and the Company was in compliance with all covenants.