XML 57 R37.htm IDEA: XBRL DOCUMENT v3.25.0.1

LONG-TERM DEBT, NET (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt, net consists of:

			December 31,
			2024						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 long-term debt			3,875,000						3,875,000
Less: Unamortized original issue discount			2,554						3,479
Less: Unamortized debt issuance costs			23,463						29,279
Total long-term debt, net			$	3,848,983					$	3,842,242

______________________

(a)Subject to springing maturity, described below.

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
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
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, 2024 and 2023:

									December 31, 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									2,371						5,592												3,976						6,630
Net carrying value included in long-term debt, net									$	572,629					$	569,408											$	571,024					$	568,370

The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at December 31, 2024:

			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, 2024, 2023, and 2022:

									Year Ended December 31, 2024
									2026 Exchangeable Notes						2030 Exchangeable Notes
									(In thousands)
Contractual interest expense									$	5,031					$	11,500
Amortization of debt issuance costs									1,605						1,038
Total interest expense recognized									$	6,636					$	12,538

									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

______________________

(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			2,554
Less: Unamortized debt issuance costs			23,463
Total long-term debt, net			$	3,848,983

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of debt instruments or arrangements with redemption features. Includes, but is not limited to, description of debt redemption features, percentage price at which debt can be redeemed by the issuer, and period start and end for debt maturity or redemption.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentRedemptionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities.

+ References

No definition available.

+ Details

Name:	us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

+ Details

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration