XML 71 R62.htm IDEA: XBRL DOCUMENT v3.22.2
Borrowings - Narrative (Details)
$ / shares in Units, $ in Thousands, shares in Millions
1 Months Ended 3 Months Ended 6 Months Ended
Aug. 20, 2021
USD ($)
optionToExtend
day
$ / shares
shares
Dec. 31, 2021
USD ($)
May 31, 2020
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Schedule of Borrowings [Line Items]          
Outstanding borrowings   $ 709,787   $ 869,373 $ 869,373
ULT Warehouse Credit Facility | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Maximum borrowing capacity     $ 175,000    
Redemption price (in percent)     100.00%    
Maximum advance rate (in percent)   85.00%   72.50% 72.50%
ULT Warehouse Credit Facility | Minimum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Monthly unused fee (in percent)     0.20%    
ULT Warehouse Credit Facility | Maximum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Monthly unused fee (in percent)     1.00%    
ULT Warehouse Credit Facility - Committed | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Maximum borrowing capacity     $ 100,000    
ULT Warehouse Credit Facility - Uncommitted | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Maximum borrowing capacity     $ 75,000    
UAWT Warehouse Credit Facility | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Monthly unused fee (in percent)   0.50%      
Maximum advance rate (in percent)   82.50%   82.50% 82.50%
UAWT Warehouse Credit Facility | Revolving Credit Facility | Primary Beneficiary          
Schedule of Borrowings [Line Items]          
Maximum borrowing capacity   $ 100,000      
2026 ("Notes")          
Schedule of Borrowings [Line Items]          
Outstanding borrowings   661,250   $ 661,250 $ 661,250
Convertible notes payable   646,900   648,400 648,400
Purchase of capped calls $ 58,500        
Initial conversion price (in dollars per share) | $ / shares $ 285.26        
Initial cap price (in dollars per share) | $ / shares $ 400.36        
Capped call cover (in shares) | shares 2.3        
2026 ("Notes") | Fair Value, Inputs, Level 2          
Schedule of Borrowings [Line Items]          
Fair value of convertible senior notes   $ 627,500   380,300 380,300
2026 ("Notes") | Convertible Debt          
Schedule of Borrowings [Line Items]          
Stated interest rate 0.25%        
Aggregate principal amount $ 661,300        
Additional aggregate principal 86,300        
Net proceeds from sale of the notes $ 645,500        
Initial conversion rate (in shares) 0.003506        
Initial conversion price (in dollars per share) | $ / shares $ 285.26        
Percent of the principal amount 100.00%        
2026 ("Notes") | Convertible Debt | Conversion Period One          
Schedule of Borrowings [Line Items]          
Trading days | day 20        
Consecutive trading days | optionToExtend 30        
Conversion price maximum threshold 130.00%        
2026 ("Notes") | Convertible Debt | Conversion Period Two          
Schedule of Borrowings [Line Items]          
Trading days | optionToExtend 5        
Consecutive trading days | optionToExtend 5        
Percentage of the last reported sale price 98.00%        
2026 ("Notes") | Convertible Debt | Conversion Period Three          
Schedule of Borrowings [Line Items]          
Redemption price (in percent) 100.00%        
Trading days | day 20        
Consecutive trading days | day 30        
Conversion price maximum threshold 130.00%        
Gross debt issuance cost $ 15,700        
Coupon interest expense       400 800
Amortization of debt issuance costs       $ 800 $ 1,500
Effective interest rate       0.70% 0.70%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ULT Warehouse Credit Facility | Minimum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Basis spread on variable rate (in percent)     1.90%    
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ULT Warehouse Credit Facility | Maximum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Basis spread on variable rate (in percent)     328.00%    
Weighted-Average Cost Of Commercial Paper Notes Issued By The Lender | UAWT Warehouse Credit Facility | Minimum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Basis spread on variable rate (in percent)   1.80%      
Weighted-Average Cost Of Commercial Paper Notes Issued By The Lender | UAWT Warehouse Credit Facility | Maximum | Revolving Credit Facility          
Schedule of Borrowings [Line Items]          
Basis spread on variable rate (in percent)   3.50%