v3.26.1
LONG-TERM DEBT, NET (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Long-term debt consists of:
June 30, 2026
December 31, 2025
(In thousands)
Credit Facility due March 20, 2029(a)
$—
$—
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
6.125% Senior Notes due September 15, 2033 (the “6.125%
Senior Notes”); interest payable each March 15 and September
15
700,000
700,000
0.875% Exchangeable Senior Notes due June 15, 2026 (the
“2026 Exchangeable Notes”)
—
423,854
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
3,575,000
3,998,854
Less: Current maturities of long-term debt
—
423,854
Less: Unamortized original issue discount
788
1,043
Less: Unamortized debt issuance costs
22,334
24,858
Total long-term debt, net
$3,551,878
$3,549,099
______________________
(a)Subject to springing maturity, described below.
Schedule of Exchangeable Notes Hedges and Warrants The following table sets forth the components of the outstanding Exchangeable Notes as of
June 30, 2026 and December 31, 2025:
June 30, 2026
December 31, 2025
2030
Exchangeable
Notes
2026
Exchangeable
Notes
2030
Exchangeable
Notes
(In thousands)
Principal
$575,000
$423,854
$575,000
Less: Unamortized debt issuance costs
3,993
274
4,531
Net carrying value included in current maturities of
long-term debt, net
$—
$423,580
$—
Net carrying value included in long-term debt, net
$571,007
$—
$570,469
Schedule of Interest Expense, Exchangeable Notes The following table sets forth interest expense recognized related to the Exchangeable Notes:
Three Months Ended June 30,
2026
Three Months Ended June 30,
2025
2026
Exchangeable
Notes
2030
Exchangeable
Notes
2026
Exchangeable
Notes
2030
Exchangeable
Notes
(In thousands)
Contractual interest expense
$773
$2,875
$1,258
$2,875
Amortization of debt issuance costs
125
271
400
265
Total interest expense recognized
$898
$3,146
$1,658
$3,140
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
2026
Exchangeable
Notes
2030
Exchangeable
Notes
2026
Exchangeable
Notes
2030
Exchangeable
Notes
(In thousands)
Contractual interest expense
$1,700
$5,750
$2,516
$5,750
Amortization of debt issuance costs
274
538
795
526
Total interest expense recognized
$1,974
$6,288
$3,311
$6,276