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DEBT | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
DEBT | DEBT Convertible Notes As of March 31, 2025, 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:
| March 31, 2025 |  | December 31, 2024
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | $ | 600,000 |  |  | $ | 600,000 |
Unamortized discount net of deferred offering costs | (4,350) |  |  | (4,862) |
Total convertible debt, net | $ | 595,650 |  |  | $ | 595,138 |
Fair value of fixed-rate convertible debt(1) : |  |  |
2027 Notes | $ | 567,504 |  |  | $ | 558,894 |
(1) The fair value of the Company’s fixed-rate convertible debt is based on open-market trades and 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, 2024. Interest expense on the Company’s convertible debt consisted of the following:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Coupon interest expense |  |  |  |  | $ | 1,875 |  |  | $ | 2,616 |
Accretion of discount on convertible notes |  |  |  |  | 485 |  |  | 841 |
Amortization of debt issuance costs |  |  |  |  | 27 |  |  | 149 |
Total interest expense on convertible debt |  |  |  |  | $ | 2,387 |  |  | $ | 3,606 |
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, 2024 for additional information related to the Company’s convertible debt.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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