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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands):

			As of December 31, 2023
			2021 Notes						2020 Notes						2019 Notes						2018 Notes						Total
Principal			$	1,000,000					$	650,000					$	649,887					$	—					$	2,299,887
Unamortized debt issuance costs			8,471						4,376						3,223						—						16,070
Net carrying value			$	991,529					$	645,624					$	646,664					$	—					$	2,283,817

			As of December 31, 2022
			2021 Notes						2020 Notes						2019 Notes						2018 Notes						Total
Principal			$	1,000,000					$	650,000					$	649,932					$	44					$	2,299,976
Unamortized debt issuance costs			10,371						5,569						4,396						—						20,336
Net carrying value			$	989,629					$	644,431					$	645,536					$	44					$	2,279,640

Schedule of Maturities of Convertible Notes

The terms of the Notes are summarized below:

Convertible Notes						Maturity Date						Contractual Convertibility Date (1)												Initial Conversion Rate per $1,000 Principal (2)						Initial Conversion Price						Annual Effective Interest Rate
2021 Notes						June 15, 2028						February 15, 2028												4.0518						$	246.80					0.4		%
2020 Notes						September 1, 2027						May 1, 2027												5.0007						199.97						0.3		%
2019 Notes						October 1, 2026						June 1, 2026												11.4040						87.69						0.3		%
2018 Notes						March 1, 2023						November 1, 2022												27.5691						36.27						—		%

(1)Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2023, holders of the 2021 Notes, 2020 Notes, and 2019 Notes are not eligible to convert their 2021 Notes, 2020 Notes, and remaining 2019 Notes, respectively, during the first quarter of 2024.

(2)The initial conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock.

Schedule of Interest Expense

Interest expense, which consists of coupon interest and amortization of debt issuance costs, related to each of the Notes for the periods presented below was as follows (in thousands):

						Year Ended   December 31,
						2023						2022						2021
2021 Notes						$	4,400					$	4,400					$	2,411
2020 Notes						2,006						2,006						2,006
2019 Notes						1,985						1,985						1,985
2018 Notes						—						—						44
Total interest expense						$	8,391					$	8,391					$	6,446

Schedule of Capped Call Transactions

The initial terms of the Company’s Capped Call Transactions are presented below:

Capped Call Transactions						Maturity Date						Initial Cap Price per Share						Cap Price Premium
2021 Capped Call Transactions						June 15, 2028						$	340.42					100		%
2020 Capped Call Transactions						September 1, 2027						327.83						150		%
2019 Capped Call Transactions						October 1, 2026						148.63						150		%

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