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LONG-TERM DEBT, NET (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | Long-term debt consists of:
| March 31, 2025 |  | December 31, 2024
| (In thousands)
Credit Facility due March 20, 2029(a) | $ | — |  |  | $ | — |
Term Loan due February 13, 2027 | — |  |  | 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 | 3,450,000 |  |  | 3,875,000 |
Less: Unamortized original issue discount | 1,416 |  |  | 2,554 |
Less: Unamortized debt issuance costs | 21,420 |  |  | 23,463 |
Total long-term debt, net | $ | 3,427,164 |  |  | $ | 3,848,983 |
______________________ (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 | 11.4927 |  | $ | 87.01 |  |  | March 15, 2026
2030 Exchangeable Notes | 11.9433 |  | $ | 83.73 |  |  | 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 March 31, 2025 and December 31, 2024:
|  |  | March 31, 2025 |  |  |  | December 31, 2024
|  |  | 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 |  |  | 1,976 |  |  | 5,331 |  |  |  |  | 2,371 |  |  | 5,592 |
Net carrying value included in long-term debt, net |  |  | $ | 573,024 |  |  | $ | 569,669 |  |  |  |  | $ | 572,629 |  |  | $ | 569,408 |
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at March 31, 2025:
| Number of Shares(a) |  | Approximate Equivalent Exchange Price per Share(a)
| (Shares in millions)
2026 Exchangeable Notes Hedge | 6.6 |  | $ | 87.01 |
2030 Exchangeable Notes Hedge | 6.9 |  | $ | 83.73 |
| Number of Shares(a) |  | Weighted Average Strike Price per Share(a)
| (Shares in millions)
2026 Exchangeable Notes Warrants | 6.6 |  | $ | 133.98 |
2030 Exchangeable Notes Warrants | 6.9 |  | $ | 134.04 |
______________________ (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, 2025 |  |  |  | Three Months Ended March 31, 2024
|  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes |  |  |  | 2026 Exchangeable Notes |  | 2030 Exchangeable Notes
|  |  | (In thousands)
Contractual interest expense |  |  | $ | 1,258 |  |  | $ | 2,875 |  |  |  |  | $ | 1,258 |  |  | $ | 2,875 |
Amortization of debt issuance costs |  |  | 395 |  |  | 261 |  |  |  |  | 398 |  |  | 258 |
Total interest expense recognized |  |  | $ | 1,653 |  |  | $ | 3,136 |  |  |  |  | $ | 1,656 |  |  | $ | 3,133 |

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- 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
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- 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
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