Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Long-Term Debt [Abstract]

Convertible Note

The net carrying amount of the Liability Component is as follows (U.S. dollars in thousands):

	December 31, 2016
Principal	$	210,000
Unamortized debt discount (conversion option)		(9,622	)
Total long-term debt, net		200,378
Unamortized debt discount (issuance costs)		(5,506	)
Net carrying amount	$	194,872

Debt Facilities

The following table summarizes the Company's debt facilities as of December 31, 2015 and 2016:

Facility or   Arrangement	Original Principal Amount	Balance as of    December 31, 2015	Balance as of    December 31, 2016(1)(2)	Interest Rate	Repayment terms
Credit Agreement term loan facility:
U.S. dollar denominated:	$127.5 million	$118.7 million	$108.4 million	Variable 30 day: 3.52%	One half of the principal amount payable in increasing quarterly installments over a five-year period beginning on December 31, 2014, with the remainder payable at the end of the five-year term.
Japanese yen denominated:	6.6 billion yen	6.1 billion yen ($51.1 million as of December 31, 2015)	5.6 billion yen ($47.9 million as of December 31, 2016)	Variable 30 day: 2.75%	One half of the principal amount payable in increasing quarterly installments over a five-year period beginning on December 31, 2014, with the remainder payable at the end of the five-year term.
Credit Agreement revolving credit facility:
		$47.5 million	$47.5 million	Variable 30 day: 3.52%	Revolving line of credit expires October 2019.
Korean subsidiary loan:	$20.0 million	$20.0 million	$10.0 million	1.12%	Remaining balance payable on March 16, 2018.
Japan subsidiary loan:	2.0 billion yen	2.0 billion yen ($16.6 million as of December 31, 2015)	1.3 billion yen ($11.4 million as of December 31, 2016)	0.66%	Payable in semi-annual installments over three years that began on January 31, 2016.
Convertible note	$210.0 million	—	$210.0 million	4.75%	Principal amount payable on June 15, 2020.

⁽¹⁾ As of December 31, 2016, the current portion of the Company's debt (i.e. becoming due in the next 12 months) included $13.5 million of the balance of its U.S. dollar denominated debt under the Credit Agreement facility, $6.0 million of the balance of its Japanese yen-denominated debt under the Credit Agreement facility, $10.0 million of the Korea subsidiary loan and $5.7 million of the Japan subsidiary loan. The Company has classified the $47.5 million borrowed under the revolving line of credit and the $10.0 million of the Korea subsidiary loan as short term because it is the Company's intention to use the line of credit to borrow and pay back funds over short periods of time as well as pay off the Korea subsidiary loan in 2017.

⁽²⁾ The carrying value of the debt reflects the amounts stated in the above table less a debt discount of $12.8 million and debt issuance costs of $5.5 million (consisting of $15.1 million related to the Convertible Note and $3.2 million related to the credit agreement), which is not reflected in this table.

Maturities of Long-Term Debt

Maturities of all long-term debt at December 31, 2016, based on the year-end exchange rate, are as follows (U.S. dollars in thousands):

Year Ending December 31,
2017	$	82,727
2018		29,840
2019		112,611
2020		210,000
2021	─
Thereafter	─
Total(1)	$	435,178

⁽¹⁾ The carrying value of the debt reflects the amounts stated in the above table less a debt discount of $18.3 million, which is not reflected in this table.