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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | The following table summarizes information regarding the Company’s debt:
| March 31, 2026 |  | December 31, 2025
5.5% senior unsecured notes due in February 2034 (the 2034 Notes) | $ | 850,000 |  |  | $ | — |
Unamortized discount net of deferred offering costs | (17,407) |  |  | — |
2034 Notes, net | 832,593 |  |  | — |
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) | $ | 600,000 |  |  | $ | 600,000 |
Unamortized discount net of deferred offering costs | (2,311) |  |  | (2,824) |
2027 Notes, net | 597,689 |  |  | 597,176 |
Long-term debt, net | $ | 1,430,282 |  |  | $ | 597,176 |
Fair value of fixed-rate debt(1) : |  |  |
2034 Notes | $ | 839,239 |  |  | $ | — |
2027 Notes | 578,823 |  |  | 576,267 |
Total fair value of fixed-rate debt | $ | 1,418,062 |  |  | $ | 576,267 |
(1) The fair value of the Company’s fixed-rate long-term 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, 2025.
Schedule of Interest Expense on Long-Term Debt | Interest expense on the Company’s long-term debt consisted of the following:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
Coupon interest expense |  |  |  |  | $ | 8,805 |  |  | $ | 1,875 |
Accretion of discount on convertible notes |  |  |  |  | 487 |  |  | 485 |
Amortization of debt issuance costs |  |  |  |  | 279 |  |  | 27 |
Total interest expense on debt |  |  |  |  | $ | 9,571 |  |  | $ | 2,387 |

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