LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The table below presents the components of outstanding debt (in thousands):

	September 30, 2022		December 31, 2021
2.800% Senior Notes due July 15, 2030	$	1,000,000	$	1,000,000
2020 Credit Agreement, due July 1, 2025	—		—
Total face amount of long-term debt	1,000,000		1,000,000
Senior Notes unamortized discount and issuance costs	(11,110)		(12,056)
Long-term debt, net	$	988,890	$	987,944

Schedule of Interest Expense

The Company recognized interest expense as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Interest on outstanding borrowings	$	7,000	$	7,000	$	21,000	$	21,000
Amortization of Senior Notes discount and issuance costs	593		583		1,771		1,742
Commitment fees and other	529		522		1,484		1,499
Total interest expense	$	8,122	$	8,105	$	24,255	$	24,241