DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity Schedule

Carrying value of the Notes:

(in thousands)	December 31, 2021		December 31, 2020
Principal	$	600,000	$	600,000
Unamortized debt discount	—		(71,222)
Unamortized issuance costs	(9,278)		(10,575)
Convertible senior notes, net	$	590,722	$	518,203
Conversion options	$	—	$	84,120
Issuance costs	—		(2,037)
Deferred taxes	—		(20,479)
Additional paid-in capital	$	—	$	61,604

Interest expense related to the Notes:

(in thousands)	2021		2020
Contractual interest expense (0.75% coupon)	$	4,500	$	3,825
Amortization of debt discount	—		12,898
Amortization of issuance costs	2,977		1,915
	$	7,477	$	18,638

The effective interest rate for the Notes:

	2021		2020
Weighted-average effective interest rate	1.3	%	4.3	%

Future payments of principal and contractual interest:

	December 31, 2021
(in thousands)	Principal		Interest		Total
2022	$	—	$	4,500	$	4,500
2023	—		4,500		4,500
2024	—		4,500		4,500
2025	600,000		2,250		602,250
	$	600,000	$	15,750	$	615,750

Schedule of Derivative Instruments

Change in capped call transactions:

(in thousands)	2021		2020
January 1,	$	83,597	$	—
Issuance	—		51,900
Fair value adjustment	(23,633)		31,697
December 31,	$	59,964	$	83,597