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LONG-TERM DEBT, NET (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt consists of:
| September 30, 2024 |  | December 31, 2023
| (In thousands)
Credit Facility due March 20, 2029(a) | $ | — |  |  | $ | — |
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 | 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 debt | 3,875,000 |  |  | 3,875,000 |
Less: Unamortized original issue discount | 2,789 |  |  | 3,479 |
Less: Unamortized debt issuance costs | 24,939 |  |  | 29,279 |
Total long-term debt, net | $ | 3,847,272 |  |  | $ | 3,842,242 |
______________________ (a)Subject to springing maturity, described below. 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
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 Exchangeable Notes Hedges and Warrants | The following table sets forth the components of the outstanding Exchangeable Notes as of September 30, 2024 and December 31, 2023:
|  |  | September 30, 2024 |  |  |  | December 31, 2023
|  |  | 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 |  |  | 2,776 |  |  | 5,853 |  |  |  |  | 3,976 |  |  | 6,630 |
Net carrying value included in long-term debt, net |  |  | $ | 572,224 |  |  | $ | 569,147 |  |  |  |  | $ | 571,024 |  |  | $ | 568,370 |
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at September 30, 2024:
| Number of Shares(a) |  | Approximate Equivalent Exchange Price per Share(a)
| (Shares in millions)
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)
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, 2024 |  |  |  | Three Months Ended September 30, 2023
|  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  |  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
|  |  | (In thousands)
Contractual interest expense |  |  | $ | 1,257 |  |  | $ | 2,875 |  |  |  |  | $ | 1,257 |  |  | $ | 2,875 |
Amortization of debt issuance costs |  |  | 404 |  |  | 261 |  |  |  |  | 400 |  |  | 256 |
Total interest expense recognized |  |  | $ | 1,661 |  |  | $ | 3,136 |  |  |  |  | $ | 1,657 |  |  | $ | 3,131 |
|  |  | Nine Months Ended September 30, 2024 |  |  |  | Nine Months Ended September 30, 2023
|  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  |  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
|  |  | (In thousands)
Contractual interest expense |  |  | $ | 3,773 |  |  | $ | 8,625 |  |  |  |  | $ | 3,773 |  |  | $ | 8,625 |
Amortization of debt issuance costs |  |  | 1,200 |  |  | 777 |  |  |  |  | 1,186 |  |  | 760 |
Total interest expense recognized |  |  | $ | 4,973 |  |  | $ | 9,402 |  |  |  |  | $ | 4,959 |  |  | $ | 9,385 |

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