Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)

v3.25.2
FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)
 6 Months Ended
Jun. 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
June 30, 2025 December 31, 2024
Level 1 Level 2 Total Level 1 Level 2 Total
(in thousands)
Assets:
Short-term investments $ 57,553  $ —  $ 57,553  $ —  $ —  $ — 
Crypto assets (1)
11,380  —  11,380  —  —  — 
Interest rate swaps —  17,481  17,481  —  29,251  29,251 
Forward currency contracts —  3,072  3,072  —  9,462  9,462 
Total $ 68,933  $ 20,553  $ 89,486  $ —  $ 38,713  $ 38,713 
Liabilities:
Forward currency contracts $ —  $ 25,574  $ 25,574  $ —  $ 380  $ 380 
Total $ —  $ 25,574  $ 25,574  $ —  $ 380  $ 380 
___________________
(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
June 30, 2025 December 31, 2024
Level 2
(in thousands)
6.5% Senior Secured Notes due 2027 $ 1,219,500  $ 1,213,896 
3.75% Senior Secured Notes due 2028 $ 485,920  $ 472,635 
5.625% Senior Notes due 2026 $ 300,960  $ 299,529 
4.75% Senior Notes due 2027 $ 940,244  $ 919,049 
2.0% Convertible Senior Notes due 2025 (1)
$ —  $ 103,032 
3.125% Convertible Senior Notes due 2029 $ 1,534,980  $ 1,365,560 
2.875% Convertible Senior Notes due 2030 $ 1,197,603  $ 1,105,852 
___________________
(1)    During the six months ended June 30, 2025, we repurchased the remaining aggregate principal amount. Refer to Note 4 – Long-Term Debt for further discussion.