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DEBT (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
The carrying amount of long-term debt consisted of the following (in thousands):
March 31, 2025December 31, 2024
Senior Credit Facilities (as defined below)$1,997,712 $2,042,221 
Senior Notes (as defined below)650,000 650,000 
Convertible Notes (as defined below)920,000 920,000 
Finance lease liabilities3,246 4,443 
Total debt3,570,958 3,616,664 
Less: Unamortized debt discount(6,668)(7,725)
Less: Unamortized debt issuance costs(17,831)(18,691)
Less: Current portion of long-term debt(1)
(593,619)(18,712)
Total long-term debt$2,952,840 $3,571,536 
(1)The 2026 Notes (as defined and described below), which mature in March 2026, are classified within the current portion of long-term debt as of March 31, 2025.
Schedule of Term Loans A summary of the Company’s outstanding term loans as of March 31, 2025 is as follows (dollars in thousands):
Instrument
Draw Date(s)
Original Principal
Amortization
Per Annum(1)
Outstanding Principal
Final Scheduled
Maturity Date
Final Scheduled
Principal Payment
Benchmark Rate
Fixed Margin
Interest Rate
Term Loan B-21/7/2019$250,000 1.0%$235,000 
10/30/2029(2)
$223,750 SOFR + 10.0 bps2.25%6.67%
Term Loan B-3
6/14/2019
10/30/2020
2/22/2023
325,000
300,000
150,000
1.0%739,543 
10/30/2029(2)
704,695 SOFR + 10.0 bps2.25%6.67%
Term Loan B-45/3/2021800,000 1.0%750,169 5/3/2028726,787 SOFR + 11.4 bps2.00%6.44%
Total$1,825,000 $1,724,712 $1,655,232 
(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 SOFR 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, 2025December 31, 2024
2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal
Gross carrying amount$575,000 $345,000 $920,000 $575,000 $345,000 $920,000 
Less: Unamortized discount(2,861)(3,807)(6,668)(3,601)(4,124)(7,725)
Less: Unamortized debt issuance costs(78)(107)(185)(98)(116)(214)
Net carrying amount$572,061 $341,086 $913,147 $571,301 $340,760 $912,061 
Interest expense on the Convertible Notes consisted of the following (dollars in thousands):
Three Months Ended March 31,
20252024
2026 Notes2028 NotesTotal2026 Notes2028 NotesTotal
Contractual interest expense$—$970$970 $—$970$970 
Amortization of discount7403171,057 7483211,069 
Amortization of debt issuance costs20929 20929 
Total interest expense$760$1,296 $2,056 $768$1,300$2,068 
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, 2025December 31, 2024
Revolving Credit Facility portion:
Other noncurrent assets$3,338 $3,754 
Term loans and Notes portion:
Long-term debt (contra account)17,831 18,691 
Total$21,169 $22,445 
Schedule of Maturities of Long-Term Debt
The future maturities of outstanding borrowings as of March 31, 2025 were as follows (in thousands):
Year Ending December 31,Amount
2025 (remaining nine months)$13,528 
2026593,038 
202718,038 
20281,356,980 
2029936,128 
Thereafter650,000 
Total$3,567,712