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CONVERTIBLE NOTES (Tables) | 9 Months Ended
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Sep. 30, 2021
CONVERTIBLE NOTES [Abstract] |
Schedule of convertible note obligations included in the condensed consolidated balance sheets | Convertible note obligations included in the condensed consolidated balance sheet consisted of the following as of September 30, 2021:
|  |  |  |  |  |  |  | Fair Value (2)
(In thousands) |  | Principal Amount |  | Unamortized Debt Discount and Issuance Costs |  | Net Carrying Amount |  | Amount |  | Leveling
2028 Convertible notes - 0.375% |  | $ | 1,150,000 |  |  | $ | (19,596) |  |  | $ | 1,130,404 |  |  | $ | 1,222,968 |  |  | 2
2027 Convertible notes - 0.375% |  | 747,500 |  |  | (12,257) |  |  | 735,243 |  |  | 834,285 |  |  | 2
2025 Convertible notes - 1.000% (1) |  | 315,005 |  |  | (1,901) |  |  | 313,104 |  |  | 455,204 |  |  | 2
Convertible note obligations included in the condensed consolidated balance sheet consisted of the following as of December 31, 2020:
|  |  |  |  |  |  |  | Fair Value (2)
(In thousands) |  | Principal Amount |  | Unamortized Debt Discount and Issuance Costs |  | Net Carrying Amount |  | Amount |  | Leveling
2028 Convertible notes - 0.375% |  | $ | 1,150,000 |  |  | $ | (21,878) |  |  | $ | 1,128,122 |  |  | $ | 1,526,625 |  |  | 2
2027 Convertible notes - 0.375% |  | 747,500 |  |  | (13,937) |  |  | 733,563 |  |  | 992,306 |  |  | 2
2025 Convertible notes - 1.000% (1) |  | 315,049 |  |  | (2,333) |  |  | 312,716 |  |  | 601,744 |  |  | 2
______________ (1)Based on the Company’s share price on the days leading up to September 30, 2021 and December 31, 2020, holders of the 2025 Convertible Notes have the right to convert their debentures. As a result, the 2025 Convertible Notes are included within convertible notes, net, current portion on the condensed consolidated balance sheets. Some holders did convert their debentures, resulting in a decrease of the principal amount of the 2025 Convertible Notes. (2)The fair values are based on observable market prices for this debt, which is traded in active markets and therefore is classified as a Level 2 fair value measurement.
Schedule of allocation of transaction costs related to convertible debt | The following table summarizes the original issuance costs at the time of issuance for each set of Notes:
(In thousands) |  |
January 2025 Notes |  | $ | 10,284 |
June 2025 Notes |  | 7,362 |
2027 Notes |  | 14,285 |
2028 Notes |  | 24,453 |
Schedule of interest expense | Interest expense includes the following:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Debt issuance costs amortization |  | $ | 1,444 |  |  | $ | 1,443 |  |  | $ | 4,284 |  |  | $ | 3,860 |
Debt discount amortization |  | 37 |  |  | 37 |  |  | 110 |  |  | 94 |
Loss on settlement of convertible notes |  | — |  |  | — |  |  | — |  |  | 50,819 |
Coupon interest expense |  | 2,566 |  |  | 2,567 |  |  | 7,699 |  |  | 7,065 |
Total interest expense on convertible notes |  | 4,047 |  |  | 4,047 |  |  | 12,093 |  |  | 61,838 |
Other interest expense |  | 633 |  |  | 431 |  |  | 1,855 |  |  | 1,544 |
Total interest expense |  | $ | 4,680 |  |  | $ | 4,478 |  |  | $ | 13,948 |  |  | $ | 63,382 |

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