FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s financial instruments that are measured at fair value on a recurring basis:


	March 31, 2024
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Fair Value Measurements

	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	215,371	$	—	$	215,371
Time deposits	—		100,000		100,000
Short-term investments:
Time deposits	—		5,938		5,938
Total	$	215,371	$	105,938	$	321,309


	December 31, 2023
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total Fair Value Measurements

	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	125,659	$	—	$	125,659
Time deposits	—		75,000		75,000
Short-term investments:
Time deposits	—		6,200		6,200
Total	$	125,659	$	81,200	$	206,859

Schedule of Carrying Value and Fair Value of Financial Instruments

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes.


	March 31, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value

	(In thousands)

Long-term debt, net (a) (b)	$	(3,843,901)	$	(3,556,289)	$	(3,842,242)	$	(3,586,177)

______________________

(a)At March 31, 2024 and December 31, 2023, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $31.1 million and $32.8 million, respectively.

(b)At March 31, 2024, the fair value of the 2026 Exchangeable Notes and 2030 Exchangeable Notes (described in “Note 4—Long-term Debt, net”) is $525.6 million and $495.6 million, respectively. At December 31, 2023, the fair value of the 2026 Exchangeable Notes and 2030 Exchangeable Notes is $517.2 million and $500.3 million, respectively.