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LONG-TERM DEBT, NET (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of:

			March 31, 2022						December 31, 2021
			(In thousands)
Credit Facility due February 13, 2025			$	—					$	—
Term Loan due February 13, 2027			425,000						425,000
5.00% Senior Notes due December 15, 2027 (the “5.00% Senior Notes”); interest payable each June 15 and December 15			450,000						450,000
4.625% Senior Notes due June 1, 2028 (the “4.625% Senior Notes”); interest payable each June 1 and December 1			500,000						500,000
5.625% Senior Notes due February 15, 2029 (the “5.625% Senior Notes”); interest payable each February 15 and August 15			350,000						350,000
4.125% Senior Notes due August 1, 2030 (the “4.125% Senior Notes”); interest payable each February 1 and August 1			500,000						500,000
3.625% Senior Notes due October 1, 2031 (the “3.625% Senior Notes”); interest payable each April 1 and October 1 commencing on April 1, 2022			500,000						500,000
0.875% Exchangeable Senior Notes due October 1, 2022 (the “2022 Exchangeable Notes”); interest payable each April 1 and October 1			84,906						100,500
0.875% Exchangeable Senior Notes due June 15, 2026 (the “2026 Exchangeable Notes”); interest payable each June 15 and December 15			575,000						575,000
2.00% Exchangeable Senior Notes due January 15, 2030 (the “2030 Exchangeable Notes”); interest payable each January 15 and July 15			575,000						575,000
Total debt			3,959,906						3,975,500
Less: Current maturities of long-term debt			84,906						100,500
Less: Unamortized original issue discount			5,007						5,215
Less: Unamortized debt issuance costs			39,028						40,364
Total long-term debt, net			$	3,830,965					$	3,829,421

The following table presents details of the exchangeable features:

			Number of shares of the Company’s Common Stock into which each $1,000 of Principal of the Exchangeable Notes is Exchangeable(a)						Approximate Equivalent Exchange Price per Share(a)						Exchangeable Date
2022 Exchangeable Notes			22.7331						$	43.99					July 1, 2022
2026 Exchangeable Notes			11.4259						$	87.52					March 15, 2026
2030 Exchangeable Notes			11.8739						$	84.22					October 15, 2029

______________________

(a)Subject to adjustment upon the occurrence of specified events.

Schedule of If-Converted Value in Excess of Principal

The following table presents the if-converted value that exceeded the principal of each Exchangeable Note outstanding as of March 31, 2022 and December 31, 2021 based on the Company’s stock price on March 31, 2022 and December 31, 2021, respectively.

			March 31, 2022						December 31, 2021
			(In millions)
2022 Exchangeable Notes			$	124.8					$	170.4
2026 Exchangeable Notes			$	139.4					$	293.9
2030 Exchangeable Notes			$	167.4					$	327.9

Schedule of Exchangeable Notes Hedges and Warrants

The following table sets forth the components of the outstanding Exchangeable Notes as of March 31, 2022 and December 31, 2021:

			March 31, 2022																		December 31, 2021
			2022 Exchangeable Notes						2026 Exchangeable Notes						2030 Exchangeable Notes						2022 Exchangeable Notes						2026 Exchangeable Notes						2030 Exchangeable Notes
			(In thousands)
Principal			$	84,906					$	575,000					$	575,000					$	100,500					$	575,000					$	575,000
Less: Unamortized debt issuance costs			318						6,744						8,393						573						7,130						8,638
Net carrying value included in current maturities of long-term debt, net			$	84,588					$	—					$	—					$	99,927					$	—					$	—
Net carrying value included in long-term debt, net			$	—					$	568,256					$	566,607					$	—					$	567,870					$	566,362

The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at March 31, 2022:

			Number of Shares(a)						Approximate Equivalent Exchange Price per Share(a)
			(Shares in millions)
2022 Exchangeable Notes Hedge			1.9						$	43.99
2026 Exchangeable Notes Hedge			6.6						$	87.52
2030 Exchangeable Notes Hedge			6.8						$	84.22

			Number of Shares(a)						Weighted Average Strike Price per Share(a)
			(Shares in millions)
2022 Exchangeable Notes Warrants			2.4						$	68.22
2026 Exchangeable Notes Warrants			6.6						$	134.76
2030 Exchangeable Notes Warrants			6.8						$	134.82

______________________

(a)Subject to adjustment upon the occurrence of specified events.

Schedule of Interest Expense, Exchangeable Notes

The following table sets forth interest expense recognized related to the Exchangeable Notes:

			Three Months Ended March 31, 2022																		Three Months Ended March 31, 2021
			2022 Exchangeable Notes						2026 Exchangeable Notes						2030 Exchangeable Notes						2022 Exchangeable Notes						2026 Exchangeable Notes						2030 Exchangeable Notes
			(In thousands)
Contractual interest expense			$	186					$	1,258					$	2,875					$	1,132					$	1,258					$	2,875
Amortization of debt issuance costs			150						386						245						907						401						257
Total interest expense recognized			$	336					$	1,644					$	3,120					$	2,039					$	1,659					$	3,132

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