v3.24.1.u1
Unsecured Senior Notes (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Instruments [Abstract]  
Schedule of Unsecured Convertible Senior Notes Outstanding
The following table is a summary of our unsecured senior notes outstanding as of March 31, 2024 and December 31, 2023 (dollars in thousands):
Coupon
Rate		Effective
Rate (1)		Maturity
Date		Remaining
Period of
Amortization		Carrying Value at
March 31, 2024December 31, 2023
2027 Convertible Notes
6.75 %7.38 %7/15/20273.3 years380,750 380,750 
2024 Senior Notes3.75 %3.94 %12/31/20240.8 years400,000 400,000 
2025 Senior Notes4.75 %(2)5.04 %3/15/20251.0 year500,000 500,000 
2026 Senior Notes3.63 %3.77 %7/15/20262.3 years400,000 400,000 
2027 Senior Notes4.38 %(3)4.49 %1/15/20272.8 years500,000 500,000 
2029 Senior Notes
7.25 %(4)7.37 %4/1/20295.0 years600,000 — 
Total principal amount2,780,750 2,180,750 
Unamortized discount—Convertible Notes(8,040)(8,570)
Unamortized discount—Senior Notes(7,656)(5,445)
Unamortized deferred financing costs(13,388)(7,847)
Total carrying amount$2,751,666 $2,158,888 
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(1)Effective rate includes the effects of underwriter purchase discount.
(2)The coupon on the 2025 Senior Notes is 4.75%. At closing, we swapped $470.0 million of the notes to a floating rate of LIBOR + 2.53%, which was converted to SOFR + 2.53% effective July 2023.
(3)The coupon on the 2027 Senior Notes is 4.375%. At closing, we swapped the notes to a floating rate of SOFR + 2.95%.
(4)The coupon on the 2029 Senior Notes is 7.25%. At closing, we swapped the notes to a floating rate of SOFR + 3.25%.
Schedule of Conversion Attributes on Convertible Notes Outstanding
The following table details the conversion attributes of our Convertible Notes outstanding as of March 31, 2024 (amounts in thousands, except rates):
March 31, 2024
ConversionConversion
Rate (1)Price (2)
2027 Convertible Notes48.1783$20.76 

(1)    The conversion rate represents the number of shares of common stock issuable per $1,000 principal amount of 2027
Convertible Notes converted, as adjusted in accordance with the indenture governing the 2027 Convertible Notes
(including the applicable supplemental indenture).

(2)    As of March 31, 2024, the market price of the Company's common stock was $20.33.