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Unsecured Senior Notes (Tables) | 12 Months Ended
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Dec. 31, 2025
Debt Instruments [Abstract] |
Schedule of Unsecured Convertible Senior Notes Outstanding | The following table is a summary of our unsecured senior notes outstanding as of December 31, 2025 and 2024 (dollars in thousands):
| Coupon Rate |  | Swapped Rate (1) |  | Effective Rate (2) |  | Maturity Date |  | Remaining Period of Amortization |  | Carrying Value at
|  |  |  | December 31, 2025 |  | December 31, 2024
2027 Convertible Notes | 6.75% |  | N/A |  | 7.38% |  | 7/15/2027 |  | 1.5 years |  | $ | 380,750 |  |  | $ | 380,750 |
2025 Senior Notes | 4.75% |  | SOFR + 2.64% |  | 5.04% |  | 3/15/2025 |  | N/A |  | — |  |  | 250,000 |
2026 Senior Notes | 3.63% |  | N/A |  | 3.77% |  | 7/15/2026 |  | 0.5 years |  | 400,000 |  |  | 400,000 |
2027 Senior Notes | 4.38% |  | SOFR + 2.95% |  | 4.49% |  | 1/15/2027 |  | 1.0 year |  | 500,000 |  |  | 500,000 |
2028 Senior Notes | 5.25% |  | SOFR + 1.88% |  | 5.49% |  | 10/15/2028 |  | 2.8 years |  | 500,000 |  |  | — |
2029 Senior Notes | 7.25% |  | SOFR + 3.25% |  | 7.37% |  | 4/1/2029 |  | 3.3 years |  | 600,000 |  |  | 600,000 |
April 2030 Senior Notes | 6.00% |  | SOFR + 2.70% |  | 6.14% |  | 4/15/2030 |  | 4.3 years |  | 400,000 |  |  | 400,000 |
July 2030 Senior Notes | 6.50% |  | SOFR + 2.55% |  | 6.64% |  | 7/1/2030 |  | 4.5 years |  | 500,000 |  |  | 500,000 |
October 2030 Senior Notes | 6.50% |  | SOFR + 2.61% |  | 6.64% |  | 10/15/2030 |  | 4.8 years |  | 500,000 |  |  | — |
2031 Senior Notes | 5.75% |  | SOFR + 2.24% |  | 5.90% |  | 1/15/2031 |  | 5.0 years |  | 550,000 |  |  | — |
Total principal amount |  |  |  |  |  |  |  |  |  |  | 4,330,750 |  |  | 3,030,750 |
Unamortized discount—Convertible Notes |  |  |  |  |  |  |  |  |  | (4,063) |  |  | (6,399) |
Unamortized discount—Senior Notes |  |  |  |  |  |  |  |  |  | (17,206) |  |  | (10,501) |
Unamortized deferred financing costs |  |  |  |  |  |  |  |  |  | (25,645) |  |  | (19,168) |
Total carrying amount |  |  |  |  |  |  |  |  |  | $ | 4,283,836 |  |  | $ | 2,994,682 |
______________________________________________________________________________________________________________________ (1)We entered into interest rate swaps on certain of our senior notes at closing to effectively convert them to floating rates. Each of those swaps has a notional amount equal to the aggregate principal amount of the respective notes, except for the 2031 Senior Notes swap which has a notional amount of $275.0 million. (2)Effective rate reflects the coupon rate plus the effects of underwriter purchase discount.
Schedule of Conversion Attributes on Convertible Notes Outstanding | The following table details the conversion attributes of our Convertible Notes outstanding as of December 31, 2025 (amounts in thousands, except rates):
| December 31, 2025
| Conversion |  | Conversion
| Rate (1) |  | Price (2)
2027 Convertible Notes | 48.1783 |  | $ | 20.76
______________________________________________________________________________________________________________________ (1)The conversion rate represents the number of shares of common stock issuable per $1,000 principal amount of 2027 Convertible Notes converted, as adjusted in accordance with the indenture governing the 2027 Convertible Notes (including the applicable supplemental indenture). (2)As of December 31, 2025, the market price of the Company’s common stock was $18.01.

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