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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Carrying value, interest expense, and effective interest rate for the notes | Carrying value of the Notes:
(in thousands) | September 30, 2022 |  | December 31, 2021
Principal | $ | 600,000 |  |  | $ | 600,000 |
Unamortized issuance costs | (7,116) |  |  | (9,278) |
Convertible senior notes, net | $ | 592,884 |  |  | $ | 590,722 |
Interest expense related to the Notes:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Contractual interest expense (0.75% coupon) | $ | 1,125 |  |  | $ | 1,125 |  |  | $ | 3,375 |  |  | $ | 3,375 |
Amortization of issuance costs | 724 |  |  | 677 |  |  | 2,163 |  |  | 2,025 |
| $ | 1,849 |  |  | $ | 1,802 |  |  | $ | 5,538 |  |  | $ | 5,400 |
The effective interest rate for the Notes:
| Nine Months Ended September 30,
| 2022 |  | 2021
Weighted-average effective interest rate | 1.2 | % |  | 1.2 | %
Schedule of future payments of principal and contractual interest | Future payments of principal and contractual interest:
| September 30, 2022
(in thousands) | Principal |  | Interest |  | Total
2023 | $ | — |  |  | $ | 4,500 |  |  | $ | 4,500 |
2024 | — |  |  | 4,500 |  |  | 4,500 |
2025 | 600,000 |  |  | 2,250 |  |  | 602,250 |
| $ | 600,000 |  |  | $ | 11,250 |  |  | $ | 611,250 |
Schedule of change in capped call transactions | Change in capped call transactions:
| Nine Months Ended September 30,
(in thousands) | 2022 |  | 2021
January 1, | $ | 59,964 |  |  | $ | 83,597 |
Fair value adjustment | (56,381) |  |  | (7,543) |
September 30, | $ | 3,583 |  |  | $ | 76,054 |

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