Long-Term Obligations and Commitments (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Obligations and Commitments [Abstract]

Long-Term Obligations

The carrying value of our long-term obligations was as follows (in thousands):

	December 31,
	2023			2022
1.75% convertible senior notes	$	562,285		$	—
0% convertible senior notes		625,380			622,242
0.125% convertible senior notes		—			544,504
Liability related to sale of future royalties		513,736			—
Lease liabilities		178,969			186,156
Mortgage debt		8,859			8,998
Other obligations		33,714			7,295
Total	$	1,922,943		$	1,369,195
Less: current portion		(8,831	)		(7,535	)
Total Long-Term Obligations	$	1,914,112		$	1,361,660

Convertible Notes [Abstract]

Debt Maturity Schedules

Annual convertible and mortgage debt maturities, including fixed and determinable interest, at December 31, 2023 are as follows (in thousands):

2024	$	55,298
2025		10,657
2026		643,157
2027		10,509
2028		580,277
Thereafter		8,462
Total debt and mortgage maturities	$	1,308,360
Less: Current portion included in other current liabilities		(157	)
Less: Fixed and determinable interest		(47,138	)
Less: Debt issuance costs		(20,061	)
Total debt	$	1,241,004

Amounts Related to Operating Leases

Amounts related to our operating leases were as follows (dollar amounts in millions):

	At December 31, 2023
Right-of-use operating lease assets	$	171.9
Operating lease liabilities	$	179.0
Weighted average remaining lease term	13.0 years
Weighted average discount rate		6.9	%

Future Payments for Operating Lease Liabilities

As of December 31, 2023, the future payments for our operating lease liabilities are as follows (in thousands):

	Operating Leases
Year ending December 31,
2024	$	20,398
2025		20,645
2026		20,781
2027		20,800
2028		20,774
Thereafter		176,138
Total minimum lease payments		279,536
Less: Imputed interest		(100,567	)
Less: Current portion (included in other current liabilities)		(8,094	)
Total long-term lease liabilities	$	170,875

Liability Related to Sale of Future Royalties

The following is a summary of our liability related to sale of future royalties for the year ended December 31, 2023 (in thousands):

Proceeds from sale of future royalties	$	500,000
Royalty payments to Royalty Pharma		(44,628	)
Interest expense related to sale of future royalties		68,238
Liability related to sale of future royalties as of December 31, 2023		523,610
Issuance costs related to sale of future royalties		(10,434	)
Amortization of issuance costs related to sale of future royalties as of December 31, 2023		560
Net liability related to sale of future royalties as of December 31, 2023	$	513,736

1.75% Notes [Member]

Convertible Notes [Abstract]

Convertible Senior Notes

At December 31, 2023, we had the following 1.75% Notes outstanding (in millions, except interest rate and price per share data):

	1.75% Notes
Outstanding principal balance	$	575.0
Unamortized debt issuance costs	$	12.7
Maturity date	June 2028
Interest rate		1.75	%
Effective interest rate		2.3	%
Conversion price per share	$	53.73
Total shares of common stock subject to conversion		10.7

0% Notes [Member]

Convertible Notes [Abstract]

Convertible Senior Notes

At December 31, 2023, we had the following 0% Notes outstanding (in millions, except interest rate and price per share data):

	0% Notes
Outstanding principal balance	$	632.5
Unamortized debt issuance costs	$	7.2
Maturity date	April 2026
Interest rate		0	%
Effective interest rate		0.5	%
Conversion price per share	$	57.84
Effective conversion price per share with call spread	$	76.39
Total shares of common stock subject to conversion		10.9

0.125% Notes [Member]

Convertible Notes [Abstract]

Convertible Senior Notes

At December 31, 2023, we had the following 0.125% Notes outstanding with interest payable semi-annually (in millions, except interest rate and price per share data):

	0.125% Notes
Outstanding principal balance	$	44.5
Unamortized debt issuance costs	$	0.2
Maturity date	December 2024
Interest rate		0.125	%
Effective interest rate		0.5	%
Conversion price per share	$	83.28
Effective conversion price per share with call spread	$	123.38
Total shares of common stock subject to conversion, excluding shares related to 0.125% Notes we have repurchased and are currently holding in treasury		0.5