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LONG-TERM DEBT, NET (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
Long-term debt consists of:
September 30, 2022December 31, 2021
(In thousands)
Credit Facility due February 13, 2025
$— $— 
Term Loan due February 13, 2027
425,000 425,000 
5.00% Senior Notes due December 15, 2027 (the “5.00% Senior Notes”); interest payable each June 15 and December 15
450,000 450,000 
4.625% Senior Notes due June 1, 2028 (the “4.625% Senior Notes”); interest payable each June 1 and December 1
500,000 500,000 
5.625% Senior Notes due February 15, 2029 (the “5.625% Senior Notes”); interest payable each February 15 and August 15
350,000 350,000 
4.125% Senior Notes due August 1, 2030 (the “4.125% Senior Notes”); interest payable each February 1 and August 1
500,000 500,000 
3.625% Senior Notes due October 1, 2031 (the “3.625% Senior Notes”); interest payable each April 1 and October 1 commencing on April 1, 2022
500,000 500,000 
0.875% Exchangeable Senior Notes due October 1, 2022 (the “2022 Exchangeable Notes”); interest payable each April 1 and October 1
44,273 100,500 
0.875% Exchangeable Senior Notes due June 15, 2026 (the “2026 Exchangeable Notes”); interest payable each June 15 and December 15
575,000 575,000 
2.00% Exchangeable Senior Notes due January 15, 2030 (the “2030 Exchangeable Notes”); interest payable each January 15 and July 15
575,000 575,000 
Total debt3,919,273 3,975,500 
Less: Current maturities of long-term debt44,273 100,500 
Less: Unamortized original issue discount
4,582 5,215 
Less: Unamortized debt issuance costs36,293 40,364 
Total long-term debt, net$3,834,125 $3,829,421 
The following table presents details of the exchangeable features:
Number of shares of the Company’s Common Stock into which each $1,000 of Principal of the Exchangeable Notes is Exchangeable(a)
Approximate Equivalent Exchange Price per Share(a)
Exchangeable Date
2022 Exchangeable Notes22.7331$43.99 July 1, 2022
2026 Exchangeable Notes11.4259$87.52 March 15, 2026
2030 Exchangeable Notes11.8739$84.22 October 15, 2029
______________________
(a)Subject to adjustment upon the occurrence of specified events.
Schedule of If-Converted Value in Excess of Principal
The following table presents the if-converted value that exceeded the principal of each Exchangeable Note outstanding as of September 30, 2022 and December 31, 2021 based on the Company’s stock price on September 30, 2022 and December 31, 2021, respectively.
September 30, 2022December 31, 2021
(In millions)
2022 Exchangeable Notes$3.8 $170.4 
2026 Exchangeable Notes$— $293.9 
2030 Exchangeable Notes$— $327.9 
Schedule of Exchangeable Notes Hedges and Warrants
The following table sets forth the components of the outstanding Exchangeable Notes as of September 30, 2022 and December 31, 2021:
September 30, 2022December 31, 2021
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Principal$44,273 $575,000 $575,000 $100,500 $575,000 $575,000 
Less: Unamortized debt issuance costs— 5,958 7,895 573 7,130 8,638 
Net carrying value included in current maturities of long-term debt, net
$44,273 $— $— $99,927 $— $— 
Net carrying value included in long-term debt, net$— $569,042 $567,105 $— $567,870 $566,362 
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at September 30, 2022:
Number of Shares(a)
Approximate Equivalent Exchange Price per Share(a)
(Shares in millions)
2022 Exchangeable Notes Hedge1.0$43.99 
2026 Exchangeable Notes Hedge6.6$87.52 
2030 Exchangeable Notes Hedge6.8$84.22 
Number of Shares(a)
Weighted Average Strike Price per Share(a)
(Shares in millions)
2022 Exchangeable Notes Warrants1.9$68.22 
2026 Exchangeable Notes Warrants6.6$134.76 
2030 Exchangeable Notes Warrants6.8$134.82 
______________________
(a)Subject to adjustment upon the occurrence of specified events.
Schedule of Interest Expense, Exchangeable Notes
The following table sets forth interest expense recognized related to the Exchangeable Notes:
Three Months Ended September 30, 2022Three Months Ended September 30, 2021
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$13 $1,257 $2,875 $1,132 $1,257 $2,875 
Amortization of debt issuance costs102 395 250 930 390 244 
Total interest expense recognized$115 $1,652 $3,125 $2,062 $1,647 $3,119 

Nine Months Ended September 30, 2022Nine Months Ended September 30, 2021
2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes2022 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes
(In thousands)
Contractual interest expense$366 $3,773 $8,625 $3,396 $3,773 $8,625 
Amortization of debt issuance costs401 1,172 743 2,757 1,178 744 
Total interest expense recognized$767 $4,945 $9,368 $6,153 $4,951 $9,369