CONVERTIBLE NOTES (Tables)

9 Months Ended

Sep. 30, 2023

CONVERTIBLE NOTES [Abstract]

Schedule of convertible note obligations included in the condensed consolidated balance sheets

Convertible note obligations included in the condensed consolidated balance sheet consisted of the following as of September 30, 2023:

							Fair Value (1)
(In thousands)	Principal Amount		Unamortized Debt Discount and Issuance Costs		Net Carrying Amount		Amount		Leveling
2030 Convertible Notes - 2.000%	$	572,993	$	(4,527)	$	568,466	$	645,511	2
2028 Convertible Notes - 0.375%	949,042		(11,134)		937,908		811,431		2
2027 Convertible Notes - 0.375%	563,822		(5,856)		557,966		513,078		2
2025 Convertible Notes - 1.000%	249,172		(591)		248,581		276,152		2

Convertible note obligations included in the condensed consolidated balance sheet consisted of the following as of December 31, 2022:

							Fair Value (1)
(In thousands)	Principal Amount		Unamortized Debt Discount and Issuance Costs		Net Carrying Amount		Amount		Leveling
2028 Convertible Notes - 0.375%	$	1,150,000	$	(15,775)	$	1,134,225	$	908,500	2
2027 Convertible Notes - 0.375%	747,500		(9,445)		738,055		612,950		2
2025 Convertible Notes - 1.000%	315,005		(1,179)		313,826		326,808		2

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(1)The fair values are based on observable market prices for this debt, which is traded in less active markets and therefore is classified as a Level 2 fair value measurement.

Schedule of allocation of transaction costs related to convertible debt

The following table summarizes the original issuance costs at the time of issuance for each set of Notes:

(In thousands)
2030 Convertible Notes	$	4,938
2028 Convertible Notes	24,453
2027 Convertible Notes	14,285
2025 Convertible Notes	17,646

Schedule of interest expense

Interest expense on the Notes includes the following:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands)	2023		2022		2023		2022
Debt issuance costs amortization	$	1,329	$	1,444	$	4,021	$	4,284
Debt discount amortization	25		37		81		110
Gain on settlements of convertible notes	—		—		(10,324)		—
Coupon interest expense	4,906		2,566		13,166		7,699
Total interest expense (income) on convertible notes	$	6,260	$	4,047	$	6,944	$	12,093

Schedule of effective interest rates related to convertible debt

The following table summarizes the effective interest rates of the Notes:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
2030 Convertible Notes	2.12	%	—	%	2.09	%	—	%
2028 Convertible Notes	0.64	%	0.64	%	0.63	%	0.64	%
2027 Convertible Notes	0.68	%	0.68	%	0.67	%	0.67	%
2025 Convertible Notes	1.18	%	1.18	%	1.17	%	1.18	%