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DEBT
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
DEBT DEBT
Convertible Notes
As of September 30, 2023, the Company had outstanding fixed-rate notes with varying maturities for an undiscounted aggregate principal amount of $1.1 billion (collectively, the Notes). The Notes are senior subordinated convertible obligations, and interest is payable in arrears, semi-annually. The following table summarizes information regarding the Company’s convertible debt:
September 30,
2023		December 31,
2022
1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes)
$600,000 $600,000 
Unamortized discount net of deferred offering costs(7,414)(8,941)
2027 Notes, net592,586 591,059 
0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes)
495,000 495,000 
Unamortized discount net of deferred offering costs(1,602)(3,040)
2024 Notes, net (1)
493,398 491,960 
Total convertible debt, net$1,085,984 $1,083,019 
Fair value of fixed-rate convertible debt (2):
2027 Notes
$595,278 $647,370 
2024 Notes
480,417 526,230 
Total fair value of fixed-rate convertible debt$1,075,695 $1,173,600 
(1)    As the 2024 Notes mature in August 2024, the outstanding principal of the 2024 Notes is classified as a current liability as of September 30, 2023.
(2)     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 to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Interest expense on the Company’s convertible debt consisted of the following: 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Coupon interest expense$2,616 $2,616 $7,849 $7,849 
Accretion of discount on convertible notes841 838 2,519 2,511 
Amortization of debt issuance costs148 148 445 445 
Total interest expense on convertible debt$3,605 $3,602 $10,813 $10,805 
See Note 10 - Debt to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information related to the Company’s convertible debt.
Revolving Credit Facility
In October 2018, the Company entered into an unsecured revolving credit facility of up to $200.0 million which included a letter of credit subfacility and a swingline loan subfacility. The credit facility was intended to finance ongoing working capital needs and for other general corporate purposes. In May 2021, the credit facility was amended to extend the original maturity date from October 19, 2021 to May 28, 2024. The credit facility was terminated on August 4, 2023 and there were no amounts outstanding under the credit facility as of September 30, 2023.