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Long-Term Debt, Net (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | Net Carrying Amounts of our Convertible Notes The carrying amount and fair value of our Convertible Notes were as follows (in thousands).
|  | June 30, 2024 |  | December 31, 2023
Principal amount |  |  |  |
2027 Convertible Notes |  | $ | 805,000 |  |  | $ | 805,000 |
2028 Convertible Notes |  | 720,000 |  |  | 720,000 |
Total principal amount |  | $ | 1,525,000 |  |  | $ | 1,525,000 |
Unamortized debt discount |  |  |  |
2027 Convertible Notes |  | $ | (9,237) |  |  | $ | (10,950) |
2028 Convertible Notes |  | (13,248) |  |  | (14,802) |
Total unamortized debt discount |  | $ | (22,485) |  |  | $ | (25,752) |
Carrying amount |  |  |  |
2027 Convertible Notes |  | $ | 795,763 |  |  | $ | 794,050 |
2028 Convertible Notes |  | 706,752 |  |  | 705,198 |
Total carrying amount |  | $ | 1,502,515 |  |  | $ | 1,499,248 |
Fair value based on trading levels (Level 2) |  |  |  |
2027 Convertible Notes |  | $ | 768,920 |  |  | $ | 695,826 |
2028 Convertible Notes |  | 801,115 |  |  | 670,522 |
Total fair value of outstanding notes |  | $ | 1,570,035 |  |  | $ | 1,366,348 |
Remaining amortization per period of debt discount (in years) |  |  |  |
2027 Convertible Notes |  | 2.7 |  | 3.2
2028 Convertible Notes |  | 4.1 |  | 4.6
Interest Income and Interest Expense Disclosure | The following table summarizes the components of interest expense and the effective interest rates for each of our Convertible Notes (in thousands).
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Coupon interest |  |  |  |  |  |  |  |
2024 Convertible Notes |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 36 |
2027 Convertible Notes |  | 503 |  | 503 |  | 1,006 |  |  | 1,006 |
2028 Convertible Notes |  | 1,800 |  | 1,800 |  | 3,600 |  |  | 3,600 |
Total coupon interest |  | $ | 2,303 |  | $ | 2,303 |  | $ | 4,606 |  |  | $ | 4,642 |
Amortization of debt discount |  |  |  |  |  |  |  |
2024 Convertible Notes |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 24 |
2027 Convertible Notes |  | 857 |  | 852 |  | 1,713 |  |  | 1,702 |
2028 Convertible Notes |  | 778 |  | 767 |  | 1,553 |  |  | 1,531 |
Total amortization of debt discount |  | $ | 1,635 |  | $ | 1,619 |  | $ | 3,266 |  |  | $ | 3,257 |
Interest expense |  |  |  |  |  |  |  |
2024 Convertible Notes |  | $ | — |  | $ | — |  | $ | — |  |  | $ | 60 |
2027 Convertible Notes |  | 1,360 |  | 1,355 |  | 2,719 |  |  | 2,708 |
2028 Convertible Notes |  | 2,578 |  | 2,567 |  | 5,153 |  |  | 5,131 |
Total interest expense |  | $ | 3,938 |  | $ | 3,922 |  | $ | 7,872 |  |  | $ | 7,899 |
Effective interest rates |  |  |  |  |  |  |  |
2027 Convertible Notes |  | 0.7 | % |  | 0.7 | % |  | 0.7 | % |  | 0.7 | %
2028 Convertible Notes |  | 1.5 | % |  | 1.5 | % |  | 1.5 | % |  | 1.5 | %

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