| Schedule of Long-Term Debt |
Long-term debt consists of: | | | | | | | | | | | | | March 31, 2025 | | December 31, 2024 | | | | | | (In thousands) | Credit Facility due March 20, 2029(a) | $ | — | | | $ | — | | Term Loan due February 13, 2027 | — | | | 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 | 500,000 | | | 500,000 | | | | | | 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 debt | 3,450,000 | | | 3,875,000 | | | | | | Less: Unamortized original issue discount | 1,416 | | | 2,554 | | | Less: Unamortized debt issuance costs | 21,420 | | | 23,463 | | | Total long-term debt, net | $ | 3,427,164 | | | $ | 3,848,983 | |
______________________ (a)Subject to springing maturity, described below. 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 | | 2026 Exchangeable Notes | 11.4927 | | $ | 87.01 | | | March 15, 2026 | | 2030 Exchangeable Notes | 11.9433 | | $ | 83.73 | | | October 15, 2029 |
______________________ (a)Subject to adjustment upon the occurrence of specified events.
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| Schedule of Exchangeable Notes Hedges and Warrants |
The following table sets forth the components of the outstanding Exchangeable Notes as of March 31, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | | | December 31, 2024 | | | | 2026 Exchangeable Notes | | 2030 Exchangeable Notes | | | | 2026 Exchangeable Notes | | 2030 Exchangeable Notes | | | | | | | | | | | | | | | | (In thousands) | | Principal | | | $ | 575,000 | | | $ | 575,000 | | | | | $ | 575,000 | | | $ | 575,000 | | | Less: Unamortized debt issuance costs | | | 1,976 | | | 5,331 | | | | | 2,371 | | | 5,592 | | | | | | | | | | | | | | | Net carrying value included in long-term debt, net | | | $ | 573,024 | | | $ | 569,669 | | | | | $ | 572,629 | | | $ | 569,408 | |
The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at March 31, 2025: | | | | | | | | | | | | | Number of Shares(a) | | Approximate Equivalent Exchange Price per Share(a) | | | | | | (Shares in millions) | | 2026 Exchangeable Notes Hedge | 6.6 | | $ | 87.01 | | | 2030 Exchangeable Notes Hedge | 6.9 | | $ | 83.73 | |
| | | | | | | | | | | | | Number of Shares(a) | | Weighted Average Strike Price per Share(a) | | | | | | (Shares in millions) | | | | | | 2026 Exchangeable Notes Warrants | 6.6 | | $ | 133.98 | | | 2030 Exchangeable Notes Warrants | 6.9 | | $ | 134.04 | |
______________________ (a)Subject to adjustment upon the occurrence of specified events.
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| Schedule of Interest Expense, Exchangeable Notes |
The following table sets forth interest expense recognized related to the Exchangeable Notes: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | | | Three Months Ended March 31, 2024 | | | | 2026 Exchangeable Notes | | 2030 Exchangeable Notes | | | | 2026 Exchangeable Notes | | 2030 Exchangeable Notes | | | | | | | | | | | | | | | | (In thousands) | | Contractual interest expense | | | $ | 1,258 | | | $ | 2,875 | | | | | $ | 1,258 | | | $ | 2,875 | | | Amortization of debt issuance costs | | | 395 | | | 261 | | | | | 398 | | | 258 | | | Total interest expense recognized | | | $ | 1,653 | | | $ | 3,136 | | | | | $ | 1,656 | | | $ | 3,133 | |
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