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LONG-TERM DEBT, NET (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt consists of:
| September 30, 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 | 44,273 |  |  | 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 | 3,919,273 |  |  | 3,975,500 |
Less: Current maturities of long-term debt | 44,273 |  |  | 100,500 |
Less: Unamortized original issue discount | 4,582 |  |  | 5,215 |
Less: Unamortized debt issuance costs | 36,293 |  |  | 40,364 |
Total long-term debt, net | $ | 3,834,125 |  |  | $ | 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 September 30, 2022 and December 31, 2021 based on the Company’s stock price on September 30, 2022 and December 31, 2021, respectively.
| September 30, 2022 |  | December 31, 2021
| (In millions)
2022 Exchangeable Notes | $ | 3.8 |  |  | $ | 170.4 |
2026 Exchangeable Notes | $ | — |  |  | $ | 293.9 |
2030 Exchangeable Notes | $ | — |  |  | $ | 327.9 |
Schedule of Exchangeable Notes Hedges and Warrants | The following table sets forth the components of the outstanding Exchangeable Notes as of September 30, 2022 and December 31, 2021:
| September 30, 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 | $ | 44,273 |  |  | $ | 575,000 |  |  | $ | 575,000 |  |  | $ | 100,500 |  |  | $ | 575,000 |  |  | $ | 575,000 |
Less: Unamortized debt issuance costs | — |  |  | 5,958 |  |  | 7,895 |  |  | 573 |  |  | 7,130 |  |  | 8,638 |
Net carrying value included in current maturities of long-term debt, net | $ | 44,273 |  |  | $ | — |  |  | $ | — |  |  | $ | 99,927 |  |  | $ | — |  |  | $ | — |
Net carrying value included in long-term debt, net | $ | — |  |  | $ | 569,042 |  |  | $ | 567,105 |  |  | $ | — |  |  | $ | 567,870 |  |  | $ | 566,362 |
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at September 30, 2022:
| Number of Shares(a) |  | Approximate Equivalent Exchange Price per Share(a)
| (Shares in millions)
2022 Exchangeable Notes Hedge | 1.0 |  | $ | 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 | 1.9 |  | $ | 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 September 30, 2022 |  | Three Months Ended September 30, 2021
| 2022 Exchangeable Notes |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  | 2022 Exchangeable Notes |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
| (In thousands)
Contractual interest expense | $ | 13 |  |  | $ | 1,257 |  |  | $ | 2,875 |  |  | $ | 1,132 |  |  | $ | 1,257 |  |  | $ | 2,875 |
Amortization of debt issuance costs | 102 |  |  | 395 |  |  | 250 |  |  | 930 |  |  | 390 |  |  | 244 |
Total interest expense recognized | $ | 115 |  |  | $ | 1,652 |  |  | $ | 3,125 |  |  | $ | 2,062 |  |  | $ | 1,647 |  |  | $ | 3,119 |
| Nine Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2021
| 2022 Exchangeable Notes |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  | 2022 Exchangeable Notes |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
| (In thousands)
Contractual interest expense | $ | 366 |  |  | $ | 3,773 |  |  | $ | 8,625 |  |  | $ | 3,396 |  |  | $ | 3,773 |  |  | $ | 8,625 |
Amortization of debt issuance costs | 401 |  |  | 1,172 |  |  | 743 |  |  | 2,757 |  |  | 1,178 |  |  | 744 |
Total interest expense recognized | $ | 767 |  |  | $ | 4,945 |  |  | $ | 9,368 |  |  | $ | 6,153 |  |  | $ | 4,951 |  |  | $ | 9,369 |

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