XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

SENIOR NOTES PAYABLE | 6 Months Ended
--- | ---
Jun. 30, 2023
Debt Disclosure [Abstract] |
SENIOR NOTES PAYABLE | SENIOR NOTES PAYABLE Senior notes payable, net, are comprised of the following:
| June 30, 2023 |  | December 31, 2022
6.750% Senior notes due May 31, 2024 | $ | 140,492 |  |  | $ | 199,232 |
6.500% Senior notes due September 30, 2026 | 180,532 |  |  | 180,532 |
6.375% Senior notes due February 28, 2025 | 146,432 |  |  | 146,432 |
6.000% Senior notes due January 31, 2028 | 266,057 |  |  | 266,058 |
5.500% Senior notes due March 31, 2026 | 217,440 |  |  | 217,440 |
5.250% Senior notes due August 31, 2028 | 405,483 |  |  | 405,483 |
5.000% Senior notes due December 31, 2026 | 324,714 |  |  | 324,714 |
| 1,681,150 |  |  | 1,739,891 |
Less: Unamortized debt issuance costs | (15,141) |  |  | (18,140) |
| $ | 1,666,009 |  |  | $ | 1,721,751 |
The Company issued $185 and $15,800 during the three months ended June 30, 2023 and 2022, respectively, and $185 and $35,873 during the six months ended June 30, 2023 and 2022, respectively, of senior notes with maturity dates ranging from May 2024 to August 2028 pursuant to At the Market Issuance Sales Agreements with B. Riley Securities, Inc. which governs the program of at-the-market sales of the Company’s senior notes. A series of prospectus supplements were filed by the Company with the SEC in respect of the Company’s offerings of these senior notes. In June 2023, the Company entered into note purchase agreements in connection with the 6.75% Senior Notes due 2024 (“6.75% 2024 Notes”) that were issued for the Targus acquisition. The note purchase agreements had a repurchase date of June 30, 2023 on which date the Company repurchased 2,356,978 shares of its 6.75% 2024 Notes with an aggregate principal amount of $58,924. The repurchase price was equal to the aggregate principal amount, plus accrued and unpaid interest up to, but excluding, the repurchase date. The total repurchase payment included approximately $663 in accrued interest. As of June 30, 2023 and December 31, 2022, total senior notes outstanding was $1,666,009 (net of unamortized debt issue costs of $15,141) and $1,721,751 (net of unamortized debt issue costs of $18,140) with a weighted average interest rate of 5.71% and 5.75%, respectively. Interest on senior notes is payable on a quarterly basis. Interest expense on senior notes totaled $26,776 and $24,650 during the three months ended June 30, 2023 and 2022, respectively, and $53,003 and $49,072 during the six months ended June 30, 2023 and 2022, respectively. Sales Agreement Prospectus to Issue Up to $250,000 of Senior Notes The most recent sales agreement prospectus was filed by the Company with the SEC on January 5, 2022 (the “Sales Agreement Prospectus”). This program provides for the sale by the Company of up to $250,000 of certain of the Company’s senior notes. As of June 30, 2023 and December 31, 2022, the Company had $137,974 and $138,159, respectively, remaining availability under the Sales Agreement Prospectus.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration