XML 82 R68.htm IDEA: XBRL DOCUMENT v3.23.3
Debt and Credit Facilities - Additional Information (Details)
1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Extension
Aug. 31, 2020
USD ($)
d
$ / shares
shares
Sep. 30, 2023
USD ($)
$ / shares
Sep. 30, 2022
USD ($)
Jun. 30, 2021
USD ($)
Sep. 30, 2023
USD ($)
d
$ / shares
shares
Sep. 30, 2022
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Nov. 30, 2022
USD ($)
Debt Instrument [Line Items]                      
Letters of credit outstanding amount       $ 311,800,000     $ 311,800,000     $ 222,500,000  
Deferred tax liabilities       20,448,000     20,448,000     12,471,000  
Deferred tax assets       $ 148,512,000     $ 148,512,000     137,709,000  
2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Debt issuance costs incurred                   $ 900,000  
Interest rate       6.60%     6.60%     5.60%  
Interest expense       $ 5,900,000     $ 16,600,000        
Debt instrument, outstanding amount $ 0     350,000,000 $ 0   350,000,000 $ 0   $ 350,000,000 $ 350,000,000
Debt amount $ 350,000,000       350,000,000     350,000,000      
Debt issuance date Sep. 30, 2022                    
Debt instrument, maturity period 3 years                    
Unused term loan commitments rate 0.175%                    
Convertible Senior Notes                      
Debt Instrument [Line Items]                      
Interest rate     0.25%                
Interest expense       700,000 700,000   $ 2,300,000 2,200,000      
Debt amount     $ 400,000,000                
Exercise of option by initial purchasers aggregate principal amount     50,000,000                
Proceeds from issuance and sale of debt     389,700,000                
Transaction fees and other third-party offering expenses     $ 10,300,000                
Debt instrument, payment terms             The Convertible Senior Notes accrue interest at a rate of 0.25% per annum, payable semi-annually on February 15 and August 15 of each year beginning on February 15, 2021        
Debt instrument, frequency of periodic payment             semi-annually        
Maturity Date     Aug. 15, 2025                
Convertible note converted each amount       $ 1,000     $ 1,000        
Convertible notes converted each into shares of common stock | shares             22.2913        
Debt Instrument, conversion price | $ / shares       $ 44.86     $ 44.86        
Threshold trading days | d     20       51        
Threshold consecutive trading days | d     30                
Conversion percentage of stock price trigger     130.00%                
Number of business day period     5 days                
Consecutive trading day period     5 days                
Convertible principal amount     $ 1,000                
Measurement period, percentage     98.00%                
Percentage of principal amount to redeem convertible senior notes     100.00%                
Percentage of convertible senior notes repurchased at cash     100.00%                
Net carrying value of notes       $ 400,000,000     $ 400,000,000     $ 400,000,000  
Bond hedge term             5 years        
Number of shares issuable upon conversion | shares     8,900,000                
Cost of convertible note hedge transaction     $ 55,000,000                
Number of common stock acquired by offsetting sale warrants. | shares             8,900,000        
Exercise price of warrants | $ / shares       $ 66.46     $ 66.46        
Proceeds from issuance of warrants             $ 13,800,000        
Convertible Note Hedge And Warrant Transaction                      
Debt Instrument [Line Items]                      
Purchase of bond hedges and sale of warrants     $ 41,200,000                
Deferred tax liabilities       $ 16,200,000     16,200,000        
Deferred tax assets       16,500,000     16,500,000        
Convertible Note Hedge And Warrant Transaction | ASC 2020-06                      
Debt Instrument [Line Items]                      
Deferred tax liability reversed       13,900,000     13,900,000        
Additional deferred tax liability related to capitalized debt issuance costs       400,000     400,000        
Adjustment to deferred tax asset through retained earnings       $ 900,000     $ 900,000        
Minimum [Member] | Convertible Senior Notes                      
Debt Instrument [Line Items]                      
Debt Instrument, conversion price | $ / shares     $ 44.86                
Percentage of bond hedge and warrant transactions increased conversion price     35.00%                
Maximum | 2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Increase in term loan $ 150,000,000                    
Maximum | Convertible Senior Notes                      
Debt Instrument [Line Items]                      
Debt Instrument, conversion price | $ / shares     $ 66.46                
Percentage of bond hedge and warrant transactions increased conversion price     100.00%                
Base Rate | Minimum [Member] | 2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Margin interest rate 0.00%                    
Base Rate | Maximum | 2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Margin interest rate 0.50%                    
SOFR Benchmark Rate | Minimum [Member] | 2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Margin interest rate 0.875%                    
SOFR Benchmark Rate | Maximum | 2022 Delayed Draw Term Loan                      
Debt Instrument [Line Items]                      
Margin interest rate 1.50%                    
Revolving Credit Facility                      
Debt Instrument [Line Items]                      
Credit agreement date   Jun. 30, 2021                  
Revolving credit facility   $ 650,000,000       $ 650,000,000          
Debt issuance costs incurred   1,900,000       1,900,000          
Revolving credit facility   $ 550,000,000       $ 550,000,000          
Credit agreement maturity period   5 years                  
Credit agreement number of extensions | Extension   2                  
Interest rate       6.70%     6.70%     5.70%  
Letters of credit outstanding amount                 $ 43,900,000 $ 44,500,000  
Interest expense       $ 1,500,000 $ 2,500,000   $ 2,000,000 $ 3,400,000      
Debt instrument, outstanding amount       $ 75,000,000     $ 75,000,000        
Revolving Credit Facility | Base Rate | Minimum [Member]                      
Debt Instrument [Line Items]                      
Margin interest rate           0.00%          
Revolving Credit Facility | Base Rate | Maximum                      
Debt Instrument [Line Items]                      
Margin interest rate           0.625%          
Revolving Credit Facility | SOFR Benchmark Rate | Minimum [Member]                      
Debt Instrument [Line Items]                      
Margin interest rate           1.00%          
Revolving Credit Facility | SOFR Benchmark Rate | Maximum                      
Debt Instrument [Line Items]                      
Margin interest rate           1.625%