Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)

v3.25.3
FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis.

Estimated Fair Value
September 30, 2025 December 31, 2024
Level 1 Level 2 Total Level 1 Level 2 Total
(in thousands)
Assets:
Short-term investments $ 67,599  $ —  $ 67,599  $ —  $ —  $ — 
Crypto assets (1)
$ 14,366  $ —  $ 14,366  $ —  $ —  $ — 
Interest rate swaps $ —  $ 13,511  $ 13,511  $ —  $ 29,251  $ 29,251 
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(1)    Refer to Note 1 – Basis of Presentation and Other Information — Accounting Standards Updates for further discussion on the adoption of ASU 2023-08.
Estimated Fair Values of Debt
The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes:
Estimated Fair Value at
September 30, 2025 December 31, 2024
Level 2
(in thousands)
6.5% Senior Secured Notes due 2027 $ 1,213,212  $ 1,213,896 
3.75% Senior Secured Notes due 2028 $ 488,580  $ 472,635 
5.625% Senior Notes due 2026 $ 300,192  $ 299,529 
4.75% Senior Notes due 2027 $ 944,110  $ 919,049 
2.0% Convertible Senior Notes due 2025 (1)
$ —  $ 103,032 
3.125% Convertible Senior Notes due 2029 $ 1,620,490  $ 1,365,560 
2.875% Convertible Senior Notes due 2030 $ 1,223,673  $ 1,105,852 
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(1)    During the nine months ended September 30, 2025, we repurchased the remaining aggregate principal amount. Refer to Note 4 – Long-Term Debt for further discussion.