DEBT (Tables)

9 Months Ended

Sep. 30, 2017

DEBT [Abstract]

Convertible Note

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

	September 30, 2017
Principal	$	210,000
Unamortized debt discount (conversion option)		(7,731	)
Total long-term debt, net		202,269
Unamortized debt discount (issuance costs)		(4,424	)
Net carrying amount	$	197,845

Debt Facilities

The following table summarizes the Company’s debt facilities as of September 30, 2017 and December 31, 2016:

Facility or   Arrangement	Original Principal Amount	Balance as of    September 30, 2017(1)(2)	Balance as of    December 31, 2016	Interest Rate	Repayment terms
Credit Agreement term loan facility:
U.S. dollar denominated:	$127.5 million	$98.8 million	$108.4 million	Variable 30 day: 3.98%	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	5.1 billion yen ($45.4 million as of September 30, 2017)	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:
		$72.5 million	$47.5 million	Variable 30 day: 3.98%	Revolving line of credit expires October 2019.
Korea subsidiary loan:	$20.0 million	—	$10.0 million	1.12%	Loan paid in full as of March 2017.
Japan subsidiary loan:	2.0 billion yen	0.7 billion yen ($5.9 million as of September 30, 2017)	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	$210.0 million	4.75%	Principal amount payable on June 15, 2020.

⁽¹⁾ As of September 30, 2017, the current portion of the Company's debt (i.e. becoming due in the next 12 months) included $16.0 million of the balance of its U.S. dollar denominated debt under the Credit Agreement facility, $7.3 million of the balance of its Japanese yen-denominated debt under the Credit Agreement facility and $5.9 million of the Japan subsidiary loan. The Company has classified the $72.5 million borrowed under the revolving line of credit 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.

⁽²⁾ The carrying value of the debt reflects the amounts stated in the above table less a debt discount of $10.0 million and debt issuance costs of $4.4 million (consisting of $12.1 million related to the Convertible Note and $2.3 million related to the credit agreement), which is not reflected in this table.