CONVERTIBLE SENIOR NOTES AND CAPPED CALLS (Tables)

3 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Convertible Debt

The following table presents the net carrying amount and fair value of the liability component of the Notes:

	June 30, 2022		March 31, 2022
Principal	$	500,000	$	500,000
Unamortized debt discount(1) and issuance costs	(5,556)		(52,548)
Net carrying amount	$	494,444	$	447,452

(1) The debt discount as of March 31, 2022 represents the discount resulting from the allocation of the equity component (conversion option) from the liability component of the Notes, net of issuance premium, prior to the adoption of ASU 2020-06 on April 1, 2022. Upon the adoption of ASU 2020-06, the equity component was reversed. As a result, June 30, 2022 debt discount represents only the issuance premium, which net against the issuance costs on the same line.

Interest Income and Interest Expense Disclosure

Interest expense recognized related to the Notes was as follows:

	For the three months ended June 30,
	2022		2021
Contractual interest expense	$	625	$	453
Amortization of debt discount and issuance costs	831		4,393
Total interest expense	$	1,456	$	4,846