LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

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

	June 30, 2023		December 31, 2022
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	(10,142)		(10,790)
Long-term debt, net	$	989,858	$	989,210

Schedule of Interest Expense

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest on outstanding borrowings	$	7,000	$	7,000	$	14,000	$	14,000
Amortization of Senior Notes discount and issuance costs	600		590		1,197		1,178
Commitment fees and other	475		484		1,433		955
Total interest expense	$	8,075	$	8,074	$	16,630	$	16,133