Unsecured Senior Notes (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Unsecured Convertible Senior Notes Outstanding

The following table is a summary of our unsecured senior notes outstanding as of September 30, 2023 and December 31, 2022 (dollars in thousands):


	Coupon Rate			Effective Rate (1)		Maturity Date	Remaining Period of Amortization	Carrying Value at
								September 30, 2023		December 31, 2022
2023 Convertible Notes	4.38	%		4.57	%	4/1/2023	0.0 years	—		250,000

2027 Convertible Notes	6.75	%		7.48	%	7/15/2027	3.8 years	380,750		—
2023 Senior Notes	5.50	%		5.71	%	11/1/2023	0.1 years	300,000		300,000
2024 Senior Notes	3.75	%		3.94	%	12/31/2024	1.3 years	400,000		400,000
2025 Senior Notes	4.75	%	(2)	5.04	%	3/15/2025	1.5 years	500,000		500,000
2026 Senior Notes	3.63	%		3.77	%	7/15/2026	2.8 years	400,000		400,000
2027 Senior Notes	4.38	%	(3)	4.49	%	1/15/2027	3.3 years	500,000		500,000
Total principal amount								2,480,750		2,350,000
Unamortized discount—Convertible Notes								(9,085)		(118)
Unamortized discount—Senior Notes								(6,276)		(9,051)
Unamortized deferred financing costs								(8,806)		(11,620)
Total carrying amount								$	2,456,583	$	2,329,211

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(1)Effective rate includes the effects of underwriter purchase discount.

(2)The coupon on the 2025 Senior Notes is 4.75%. At closing, we swapped $470.0 million of the notes to a floating rate of LIBOR + 2.53%, which was converted to SOFR + 2.53% effective July 2023.

(3)The coupon on the 2027 Senior Notes is 4.375%. At closing, we swapped the notes to a floating rate of SOFR + 2.95%.

Schedule of Conversion Attributes on Convertible Notes Outstanding

The following table details the conversion attributes of our Convertible Notes outstanding as of September 30, 2023 (amounts in thousands, except rates):


	September 30, 2023
	Conversion	Conversion
	Rate (1)	Price (2)
2027 Convertible Notes	48.1783	$	20.76

(1) The conversion rate represents the number of shares of common stock issuable per $1,000 principal amount of 2027

Convertible Notes converted, as adjusted in accordance with the indenture governing the 2027 Convertible Notes

(including the applicable supplemental indenture).

(2) As of September 30, 2023, the market price of the Company's common stock was $19.35.