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Long-term Debt - Summary of Key Terms of the Each of the Convertible Notes (Details)
$ / shares in Units, $ in Thousands
1 Months Ended 6 Months Ended
Feb. 24, 2025
Nov. 30, 2024
$ / shares
Sep. 30, 2024
$ / shares
Jun. 30, 2024
USD ($)
$ / shares
Mar. 31, 2024
$ / shares
Feb. 28, 2021
USD ($)
$ / shares
Nov. 30, 2024
USD ($)
$ / shares
Sep. 30, 2024
USD ($)
$ / shares
Mar. 31, 2024
USD ($)
$ / shares
Feb. 29, 2024
USD ($)
$ / shares
Feb. 28, 2021
USD ($)
$ / shares
Jun. 30, 2025
USD ($)
Jan. 24, 2025
USD ($)
Convertible Senior Notes due 2027                          
Debt Instrument [Line Items]                          
Issuance Date                       Feb. 28, 2021  
Maturity Date [1]                       Feb. 15, 2027  
Principal at Inception           $ 1,050,000         $ 1,050,000 $ 1,050,000 $ 1,050,000
Stated Interest Rate           0.00%         0.00% 0.00% [2]  
Interest Payment Dates One [3]                       --02-15  
Interest Payment Dates Two [3]                       --08-15  
Net Proceeds                     $ 1,025,830    
Issuance Costs [4]                       $ 24,170  
Effective Interest Rate [4]                       0.39%  
Initial Conversion Rate [5]           6.981              
Initial Conversion Price | $ / shares [6]           $ 143.25         $ 143.25    
Convertible at any time after the following date [7],[8]                       Jan. 24, 2025  
Not redeemable by the company prior to the following date [9]                       Feb. 20, 2024  
Redemption Date Feb. 24, 2025                     Feb. 24, 2025 [10]  
Convertible Senior Notes due 2028                          
Debt Instrument [Line Items]                          
Issuance Date                       Sep. 30, 2024  
Maturity Date [1]                       Sep. 15, 2028  
Principal at Inception                       $ 1,010,000  
Stated Interest Rate [2]                       0.625%  
Interest Payment Dates One [3]                       --03-15  
Interest Payment Dates Two [3]                       --09-15  
Net Proceeds               $ 997,375          
Issuance Costs [4]                       $ 12,625  
Effective Interest Rate [4]                       1.05%  
Date of Holder Put Option [11]                       Sep. 15, 2027  
Initial Conversion Rate [5]     5.4589                    
Initial Conversion Price | $ / shares [6]     $ 183.19         $ 183.19          
Convertible at any time after the following date [7],[8]                       Mar. 15, 2028  
Not redeemable by the company prior to the following date [9]                       Dec. 20, 2027  
Convertible Senior Notes due 2029                          
Debt Instrument [Line Items]                          
Issuance Date                       Nov. 30, 2024  
Maturity Date [1]                       Dec. 01, 2029  
Principal at Inception                       $ 3,000,000  
Stated Interest Rate [2]                       0.00%  
Interest Payment Dates One [3]                       --06-01  
Interest Payment Dates Two [3]                       --12-01  
Net Proceeds             $ 2,974,250            
Issuance Costs [4]                       $ 25,750  
Effective Interest Rate [4]                       0.24%  
Date of Holder Put Option [11]                       Jun. 01, 2028  
Initial Conversion Rate [5]   1.4872                      
Initial Conversion Price | $ / shares [6]   $ 672.4         $ 672.4            
Convertible at any time after the following date [7],[8]                       Jun. 01, 2029  
Not redeemable by the company prior to the following date [9]                       Dec. 04, 2026  
Convertible Senior Notes due 2030A                          
Debt Instrument [Line Items]                          
Issuance Date                       Mar. 31, 2024  
Maturity Date [1]                       Mar. 15, 2030  
Principal at Inception                       $ 800,000  
Stated Interest Rate [2]                       0.625%  
Interest Payment Dates One [3]                       --03-15  
Interest Payment Dates Two [3]                       --09-15  
Net Proceeds                 $ 782,000        
Issuance Costs [4]                       $ 18,000  
Effective Interest Rate [4]                       1.14%  
Date of Holder Put Option [11]                       Sep. 15, 2028  
Initial Conversion Rate [5]         6.677                
Initial Conversion Price | $ / shares [6]         $ 149.77       $ 149.77        
Convertible at any time after the following date [7],[8]                       Sep. 15, 2029  
Not redeemable by the company prior to the following date [9]                       Mar. 22, 2027  
Convertible Senior Notes due 2030B                          
Debt Instrument [Line Items]                          
Issuance Date                       Feb. 29, 2024  
Maturity Date [1]                       Mar. 01, 2030  
Principal at Inception                       $ 2,000,000  
Stated Interest Rate [2]                       0.00%  
Interest Payment Dates One [3]                       --03-01  
Interest Payment Dates Two [3]                       --09-01  
Net Proceeds                   $ 1,984,852      
Issuance Costs [4]                       $ 15,148  
Effective Interest Rate [4]                       0.25%  
Date of Holder Put Option [11]                       Mar. 01, 2028  
Initial Conversion Rate [5]                   2.3072      
Initial Conversion Price | $ / shares [6]                   $ 433.43      
Convertible at any time after the following date [7],[8]                       Dec. 03, 2029  
Not redeemable by the company prior to the following date [9]                       Mar. 05, 2027  
Convertible Senior Notes due 2031                          
Debt Instrument [Line Items]                          
Issuance Date                       Mar. 31, 2024  
Maturity Date [1]                       Mar. 15, 2031  
Principal at Inception                       $ 603,750  
Stated Interest Rate [2]                       0.875%  
Interest Payment Dates One [3]                       --03-15  
Interest Payment Dates Two [3]                       --09-15  
Net Proceeds                 $ 592,567        
Issuance Costs [4]                       $ 11,183  
Effective Interest Rate [4]                       1.30%  
Date of Holder Put Option [11]                       Sep. 15, 2028  
Initial Conversion Rate [5]         4.297                
Initial Conversion Price | $ / shares [6]         $ 232.72       $ 232.72        
Convertible at any time after the following date [7],[8]                       Sep. 15, 2030  
Not redeemable by the company prior to the following date [9]                       Mar. 22, 2028  
Convertible Senior Notes due 2032                          
Debt Instrument [Line Items]                          
Issuance Date                       Jun. 30, 2024  
Maturity Date [1]                       Jun. 15, 2032  
Principal at Inception                       $ 800,000  
Stated Interest Rate [2]                       2.25%  
Interest Payment Dates One [3]                       --06-15  
Interest Payment Dates Two [3]                       --12-15  
Net Proceeds       $ 786,000                  
Issuance Costs [4]                       $ 14,000  
Effective Interest Rate [4]                       2.63%  
Date of Holder Put Option [11]                       Jun. 15, 2029  
Initial Conversion Rate [5]       4.894                  
Initial Conversion Price | $ / shares [6]       $ 204.33                  
Convertible at any time after the following date [7],[8]                       Dec. 15, 2031  
Not redeemable by the company prior to the following date [9]                       Jun. 20, 2029  
[1] “Maturity Date” is the stated maturity date under each applicable indenture governing such notes, unless earlier converted, redeemed, or repurchased in accordance with their terms.
[2] Holders may receive additional or special interest under specified circumstances as outlined under each applicable indenture governing the Convertible Notes.
[3] The 2029 Convertible Notes and the 2030B Convertible Notes do not bear regular interest. Additionally, the 2027 Convertible Notes did not bear regular interest prior to their redemption.
[4] “Issuance Costs” reflect the customary offering expenses associated with each of the Convertible Notes. The Company accounts for these issuance costs as a reduction to the principal amount of the respective Convertible Notes and amortizes the issuance costs to interest expense from the respective debt issuance dates through the earlier of the “Maturity Date” or the “Date of Holder Put Option,” if applicable, at the “Effective Interest Rate” stated in the table.
[5] The “Initial Conversion Rate” is stated in shares of the Company’s class A common stock per $1,000 principal amount. The conversion rates are subject to customary anti-dilution adjustments. In addition, following certain events that may occur prior to the respective maturity dates or if the Company delivers a notice of redemption, the Company will increase the conversion rate for a holder who elects to convert its respective Convertible Notes in connection with such corporate event or notice of redemption, as the case may be, in certain circumstances as provided in each indenture governing the respective Convertible Notes.
[6] The “Initial Conversion Price” is stated in dollars per share of the Company’s class A common stock.
[7] On or after the stated dates until the close of business on the second scheduled trading day immediately preceding the respective maturity dates, holders may convert the Convertible Notes at any time. Upon conversion of the Convertible Notes, the Company will pay or deliver, as the case may be, cash, shares of the Company’s class A common stock, or a combination of cash and shares of class
A common stock, at the Company’s election. For the 2027 Convertible Notes, the date presented is the date on which the Company delivered its notice of full redemption of the 2027 Convertible Notes, which resulted in the 2027 Convertible Notes being convertible at any time thereafter until 5:00pm New York City time, on February 20, 2025. See below under “Conversions and Redemption of Convertible Notes” for further information.
[8] Prior to the respective dates, the Convertible Notes are convertible only under the following circumstances:
i.
during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ended on June 30, 2024 for the 2030A Convertible Notes and 2031 Convertible Notes, on September 30, 2024 for the 2032 Convertible Notes, on December 31, 2024 for the 2028 Convertible Notes, on March 31, 2025 for the 2029 Convertible Notes, or on June 30, 2025 for the 2030B Convertible Notes, if the last reported sale price of the Company’s class A common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price of the respective Convertible Notes on each applicable trading day;
ii.
during the five business day period after any five consecutive trading day period (the “measurement period”) in which the “trading price” (as defined under each applicable indenture governing the respective Convertible Notes) per $1,000 principal amount of the respective Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s class A common stock and the applicable conversion rate on each such trading day;
iii.
(a) in the case of the 2028 Convertible Notes, 2029 Convertible Notes, 2030A Convertible Notes, 2031 Convertible Notes and 2032 Convertible Notes, the Company calls any or all of such Convertible Notes for redemption, then a holder may surrender all or any part of such of its Convertible Notes as called for redemption for conversion at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; and (b) in the case of the 2030B Convertible Notes, the Company calls any 2030B Convertible Notes for redemption, then the holders of such 2030B Convertible Note may convert such 2030B Convertible Notes at any time before the close of business on the second business day immediately before the related redemption date; and
iv.
upon occurrence of specified corporate events as described in each applicable indenture governing the respective Convertible Notes.
[9] The Company may redeem for cash all or a portion of the Outstanding Convertible Notes at its option, on or after the stated dates, if the last reported sale price of the Company’s class A common stock has been at least 130% of the conversion price of the respective Convertible Notes then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides a notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. The redemption price will be equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. See below “Conversions and Redemption of Convertible Notes” subsection for information regarding the Company’s redemption of the 2027 Convertible Notes.
[10] Redemption Date” for the 2027 Convertible Notes is the date on which the Company redeemed all outstanding 2027 Convertible Notes.
[11] “Date of Holder Put Option” represents the respective dates upon which holders of the 2028 Convertible Notes, 2029 Convertible Notes, 2030A Convertible Notes, 2030B Convertible Notes, 2031 Convertible Notes, and 2032 Convertible Notes each have a noncontingent right to require the Company to repurchase for cash all or any portion of their respective notes at a repurchase price equal to 100% of the principal amount of such notes to be repurchased, plus any accrued and unpaid interest to, but excluding the repurchase date.