DEBT (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes the Company’s outstanding debt (in millions):

		December 31, 2021				September 30, 2022
	Maturity	Amount (in millions)		Effective Interest Rate		Amount (in millions)		Effective Interest Rate
2026 Notes	2026	$	1,250	7.0	%	$	1,250	7.6	%
Total long term debt		1,250				1,250
Less unamortized discount and debt issuance costs		(24)				(21)
Notes payable, less unamortized discount and debt issuance costs		1,226				1,229
Less: Current portion		—				—
Total note payable, less current portion		$	1,226			$	1,229

Debt Securities, Trading, and Equity Securities, FV-NI

During the three and nine months ended September 30, 2021, the loss on the 2021 Convertible Notes was recognized in “Loss on convertible notes, net” in the Consolidated Statements of Operations and was calculated as follows (in millions):

	September 30, 2021
	Fair value (carrying amount)		Unpaid principal balance		Loss on convertible notes, net
2021 Convertible Notes	$	2,958	$	2,500	$	458