XML 72 R61.htm IDEA: XBRL DOCUMENT v3.26.1
CONVERTIBLE SENIOR NOTES (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended
Jul. 08, 2024
Mar. 31, 2025
Jun. 30, 2024
Jun. 28, 2024
Sep. 25, 2020
Mar. 31, 2026
Sep. 15, 2025
Convertible Senior Notes due 2025 [Member]              
Debt Instrument [Line Items]              
Debt conversion description       On June 28, 2024, the Company sold an aggregate principal amount of $300,000 of its 2.25% convertible senior notes, due in 2029 (the “Notes 2029”). The Notes 2029 were sold pursuant to an indenture, dated June 28, 2024 (the “Indenture 2029”), between the Company and U.S. Bank National Association, as trustee. The Notes 2029 will bear interest at a rate of 2.25% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2025. The Notes 2029 mature on July 1, 2029, unless repurchased, redeemed or converted in accordance with their terms prior to such date. The Notes 2029 are general senior unsecured obligations of the Company. Holders may convert their Notes 2029 at any time prior to the close of business on the business day immediately preceding April 1, 2029 in multiples of $1,000 principal amount, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on September 30, 2024 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Notes 2029 for each trading day of that five consecutive trading day period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events or if the Company provides a notice of redemption as described in the Indenture 2029. In addition, holders may convert their Notes 2029, in multiples of $1,000 principal amount, at their option at any time beginning on or after April 1, 2029, and prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Notes 2029, without regard to the foregoing circumstances. The initial conversion rate for the Notes 2029 is 29.1375 shares of common stock per $1,000 principal amount of Notes 2029, which is equivalent to an initial conversion price of approximately $34.32 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture 2029. On September 25, 2020, the Company sold an aggregate principal amount of $632,500 of its 0.00% convertible senior notes due 2025 (the “Notes 2025”). The Notes 2025 were sold pursuant to an indenture, dated September 25, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. The Notes 2025 did not bear regular interest and matured on September 15, 2025. The Notes 2025 were general senior unsecured obligations of the Company. The initial conversion rate for the Notes 2025 was 3.5997 shares of common stock per $1,000 principal amount of Notes 2025, which was equivalent to an initial conversion price of approximately $277.80 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture. In March 2025 the Company repurchased $5,250 principal amount of its Notes 2025. The Company recorded a net gain of $146, under other income, net, from the repurchase. The Company repaid all of the remaining Notes 2025 on their scheduled maturity of September 15, 2025. At maturity, the Company paid $342,250 in cash towards the principal amount of the Notes 2025 and no shares were issued in connection with the settlement as the conversion value was less than the principal amount of the Notes 2025. The Notes 2029 are not redeemable prior to July 6, 2027. On or after July 6, 2027, the Company may redeem the Notes 2029 at its option if the last reported sale price of the common stock has been at least 130% of the conversion price, then in effect, for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on and including the trading day immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the Notes 2029 to be redeemed, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date.  
Principal amount sold       $ 300,000 $ 632,500    
Effective coupon rate       2.25% 0.00%    
Maturity date       Jul. 01, 2029 Sep. 15, 2025    
Conversion amount       $ 1,000   $ 285,000  
Number of shares of common stock per $1,000 principal amount of Notes converted       29.1375 3.5997    
Amount of conversion       $ 1,000 $ 1,000    
Conversion price       $ 34.32 $ 277.8    
Net proceeds of convertible debt           293,200  
Net proceeds from offering           25,230  
Net proceeds from offering to repurchase           $ 267,900  
Other income a gain     $ 15,456        
Principal amount of Notes repurchased   $ 5,250          
Gain on repurchase of debt Instrument   $ 146          
Convertible Debt             $ 342,250
Convertible Senior Notes due 2029 [Member]              
Debt Instrument [Line Items]              
Principal amount sold $ 37,000            
Net proceeds of convertible debt 36,237            
Net proceeds from offering $ 3,111            
Market price per share of common stock exceeding initial cap price           $ 48.84  
Amortized period           3 years 3 months 18 days  
Effective interest           2.75%  
Estimated fair value of notes           $ 164,278  
Convertible Senior Notes due 2029 [Member] | Level 2 [Member]              
Debt Instrument [Line Items]              
Estimated fair value of notes           $ 586,852