v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Measured on a Recurring Basis
The fair value measurements of financial instruments that are measured at fair value on a recurring basis consisted of the following (in thousands):
June 30, 2026December 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Derivative asset$— $3,740 $— $3,740 $— $— $— $— 
Liabilities
Derivative liability$— $44 $— $44 $— $— $— $— 
2021 Notes— — — — — — 660,324 660,324 
Total liabilities$— $44 $— $44 $— $— $660,324 $660,324 
Summary of Net Changes in Fair Value
A summary of the net changes in the fair value of the 2021 Notes was as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Balance, beginning of period$682,934 $568,121 $660,324 $544,106 
Fair value loss recognized in other expense, net240 30,754 25,239 57,554 
Fair value gain recognized in other comprehensive loss— (12,940)(2,389)(15,725)
Reclassification to equity(683,174)— (683,174)— 
Balance, end of period$— $585,935 $— $585,935