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DEBT (Tables)
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Summary of Convertible Debt The following table summarizes information regarding the Company’s convertible debt:
September 30,
2022
December 31,
2021
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes)
$600,000 $600,000 
Unamortized discount net of deferred offering costs(9,449)(10,971)
2027 Notes, net590,551 589,029 
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
495,000 495,000 
Unamortized discount net of deferred offering costs(3,518)(4,952)
2024 Notes, net491,482 490,048 
Total convertible debt, net$1,082,033 $1,079,077 
Fair value of fixed-rate convertible debt (1):
2027 Notes
$601,488 $625,122 
2024 Notes
491,213 521,082 
Total fair value of fixed-rate convertible debt$1,092,701 $1,146,204 
(1)    The fair value of the Company’s fixed-rate convertible debt is based on open-market trades and is classified as Level 1 in the fair value hierarchy. For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Summary of Interest Expense on Debt
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Coupon interest expense$2,616 $2,617 $7,849 $7,849 
Accretion of discount on convertible notes838 835 2,511 2,503 
Amortization of debt issuance costs148 148 445 445 
Total interest expense on convertible debt$3,602 $3,600 $10,805 $10,797