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LONG-TERM DEBT, NET (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt, net consists of:
| December 31,
| 2023 |  | 2022
| (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 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 long-term debt | 3,875,000 |  |  | 3,875,000 |
Less: Unamortized original issue discount | 3,479 |  |  | 4,366 |
Less: Unamortized debt issuance costs | 29,279 |  |  | 34,908 |
Total long-term debt, net | $ | 3,842,242 |  |  | $ | 3,835,726 |
The following table presents details of the outstanding 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
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 Debt Instrument Redemption |
Beginning October 1, | Percentage
2026 | 101.813%
2027 | 101.208%
2028 | 100.604%
2029 and thereafter | 100.000%
Beginning June 1, | Percentage |
2023 | 102.313% |
2024 | 101.156% |
2025 and thereafter | 100.000% |
Beginning May 1, | Percentage
2025 | 102.063%
2026 | 101.375%
2027 | 100.688%
2028 and thereafter | 100.000%
Beginning February 15, | Percentage
2024 | 102.813%
2025 | 101.875%
2026 | 100.938%
2027 and thereafter | 100.000%
Beginning December 15, | Percentage
2023 | 101.667%
2024 | 100.833%
2025 and thereafter | 100.000%
Schedule of Exchangeable Notes Hedge and Warrants | The following table sets forth the components of the outstanding Exchangeable Notes as of December 31, 2023 and 2022:
|  |  | December 31, 2023 |  |  |  | December 31, 2022
|  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  |  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
|  |  | (In thousands)
Principal |  |  | $ | 575,000 |  |  | $ | 575,000 |  |  |  |  | $ | 575,000 |  |  | $ | 575,000 |
Less: unamortized debt issuance costs |  |  | 3,976 |  |  | 6,630 |  |  |  |  | 5,562 |  |  | 7,645 |
Net carrying value included in long-term debt, net |  |  | $ | 571,024 |  |  | $ | 568,370 |  |  |  |  | $ | 569,438 |  |  | $ | 567,355 |
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at December 31, 2023:
| Number of Shares(a) |  | Approximate Equivalent Exchange Price per Share(a)
| (Shares in millions)
2026 Exchangeable Notes Hedges | 6.6 |  | $ | 87.52 |
2030 Exchangeable Notes Hedges | 6.8 |  | $ | 84.22 |
| Number of Shares(a) |  | Weighted Average Strike Price per Share(a)
| (Shares in millions)
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 for the years ended December 31, 2023, 2022, and 2021:
|  |  | Year Ended December 31, 2023
|  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
|  |  | (In thousands)
Contractual interest expense |  |  | $ | 5,031 |  |  | $ | 11,500 |
Amortization of debt issuance costs |  |  | 1,586 |  |  | 1,015 |
Total interest expense recognized |  |  | $ | 6,617 |  |  | $ | 12,515 |
| Year Ended December 31, 2022
| 2022 Exchangeable Notes(a) |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
| (In thousands)
Contractual interest expense | $ | 366 |  |  | $ | 5,031 |  |  | $ | 11,500 |
Amortization of debt issuance costs | 401 |  |  | 1,568 |  |  | 993 |
Total interest expense recognized | $ | 767 |  |  | $ | 6,599 |  |  | $ | 12,493 |
| Year Ended December 31, 2021
| 2022 Exchangeable Notes(a) |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
| (In thousands)
Contractual interest expense | $ | 3,525 |  |  | $ | 5,031 |  |  | $ | 11,500 |
Amortization of debt issuance costs | 2,939 |  |  | 1,570 |  |  | 989 |
Total interest expense recognized | $ | 6,464 |  |  | $ | 6,601 |  |  | $ | 12,489 |
______________________ (a)The outstanding balance of the 2022 Exchangeable Notes was fully redeemed during the year ended December 31, 2022.
Schedule of Long-term Debt Maturities | Long-term debt maturities
Years Ending December 31, | (In thousands)
2026 | $ | 575,000 |
2027 | 875,000 |
2028 | 500,000 |
2029 | 350,000 |
2030 | 1,075,000 |
2031 | 500,000 |
Total | 3,875,000 |
Less: Unamortized original issue discount | 3,479 |
Less: Unamortized debt issuance costs | 29,279 |
Total long-term debt, net | $ | 3,842,242 |

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