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DEBT (Tables)
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The carrying amount of long-term debt consisted of the following (in thousands):
March 31, 2023December 31, 2022
Senior Credit Facilities (as defined below)$2,269,030 $2,273,904 
Senior Notes (as defined below)650,000 650,000 
Convertible Notes (as defined below)920,000 920,000 
Finance lease liabilities4,740 4,844 
Total debt3,843,770 3,848,748 
Less: Unamortized debt discount(15,255)(16,313)
Less: Unamortized debt issuance costs(25,346)(23,913)
Less: Current portion of long-term debt(18,919)(55,931)
Total long-term debt$3,784,250 $3,752,591 
Schedule of Term Loans A summary of the Company’s outstanding term loans as of March 31, 2023 is as follows (dollars in thousands):
InstrumentDraw Date(s)Original Principal
Amortization Per Annum(1)
Outstanding PrincipalFinal Scheduled Maturity DateFinal Scheduled Principal PaymentBenchmark RateFixed MarginInterest Rate
Term Loan B-21/7/2019$250,000 1.0%$240,000 
10/30/2029(2)
$223,750 SOFR + 10 bps2.25%7.16%
Term Loan B-3
6/14/2019 10/30/2020
2/22/2023
325,000
300,000
150,000
1.0%755,030 
10/30/2029(2)
704,695 SOFR + 10 bps2.25%7.16%
Term Loan B-45/3/2021800,000 1.0%786,000 5/3/2028746,000 LIBOR2.00%6.84%
Total$1,825,000 $1,781,030 $1,674,445 
(1)Payable in equal quarterly installments (expressed as a percentage of the original principal amount and subject to customary adjustments in the event of any prepayment). All loans may be prepaid at any time without penalty or premium (subject to customary LIBOR breakage provisions).
(2)The final maturity date of the Term Loan B-2 and the Term Loan B-3, in each case, will adjust to May 3, 2028 if greater than $150.0 million aggregate principal amount of the Term Loan B-4 (together with any refinancing indebtedness in respect of the Term Loan B-4 with a final maturity date prior to the date that is 91 days after October 30, 2029) remains outstanding on May 3, 2028.
Schedule of Convertible Debt
The carrying amounts of the Convertible Notes consisted of the following (in thousands):
March 31, 2023December 31, 2022
2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal
Gross carrying amount$575,000 $345,000 $920,000 $575,000 $345,000 $920,000 
Less: Unamortized discount(8,870)(6,386)(15,256)(9,610)(6,703)(16,313)
Less: Unamortized debt issuance costs(242)(180)(422)(262)(189)(451)
Net carrying amount$565,888 $338,434 $904,322 $565,128 $338,108 $903,236 
Interest expense on the Convertible Notes consisted of the following (dollars in thousands):
Three Months Ended March 31,
20232022
2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal
Contractual interest expense$— $970 $970 $— $970 $970 
Amortization of discount740 318 1,058 740 318 1,058 
Amortization of debt issuance costs20 9 29 20 9 29 
Total interest expense$760 $1,297 $2,057 $760 $1,297 $2,057 
Effective interest rate0.5 %1.5 %0.5 %1.5 %
Schedule of Unamortized Debt Issuance Costs
Unamortized debt issuance costs consisted of the following (in thousands):
March 31, 2023December 31, 2022
Revolving Credit Facility portion:
Other noncurrent assets$3,545 $1,904 
Term loans and Notes portion:
Long-term debt (contra account)25,346 23,913 
Total$28,891 $25,817 
Schedule of Maturities of Long-Term Debt
The future maturities of outstanding borrowings as of March 31, 2023 were as follows (in thousands):
Year Ending December 31,Amount
2023 (remaining nine months)$13,683 
202418,244 
202518,244 
2026593,244 
202718,244 
Thereafter3,177,371 
Total$3,839,030