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Convertible Notes, Net (Tables)
3 Months Ended
Mar. 31, 2020
Text Block [Abstract]  
Summary of Outstanding Convertible Senior Notes
As of March 31, 2020, the following convertible senior notes, or Convertible Notes, were outstanding ($ in thousands):
                                         
Convertible Notes Issuance
 
Face Value
 
 
Coupon Rate
 
 
All-in
 Cost
(1)
 
 
Conversion Rate
(2)
 
 
Maturity
 
May 2017
  $
402,500
     
4.38
%    
4.85
%    
28.0324
     
May 5, 2022
 
March 2018
  $
 
 
 
220,000
     
4.75
%    
5.33
%    
27.6052
     
March 15, 2023
 
                        
   
     
     
     
     
 
 
 
 
 
 
 
 
 
 
 
     
(1)  
 
Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the effective interest method.
(2)
 
Represents the shares of class A common stock per $1,000 principal amount of Convertible Notes, which is equivalent to a conversion price of $35.67 and $36.23 per share of class A common stock, respectively, for the May 2017 and March 2018 convertible notes. The cumulative dividend threshold as defined in the respective May 2017 and March 2018 convertible notes supplemental indentures have not been exceeded as of March 31, 2020.
 
 
 
 
 
Summary of Details of Net Book Value of Convertible Note
The following table details the net book value of our Convertible Notes on our consolidated balance sheets ($ in thousands):
                 
 
March 31, 2020
 
 
December 31, 2019
 
Face value
  $
   622,500
    $
   622,500
 
Unamortized discount
   
(8,047
)    
(8,801
)
Deferred financing costs
   
(571
)    
(628
)
                 
Net book value
  $
613,882
    $
613,071
 
                 
 
Summary of Details about Interest Expense
The following table details our interest expense related to the Convertible Notes ($ in thousands):
                                                                     
 
Three Months Ended
 
 
March 31,
 
 
2020
 
 
2019
 
Cash coupon
  $
     7,015
    $
     7,015
 
Discount and issuance cost amortization
   
811
     
772
 
                 
Total interest expense
  $
7,826
    $
7,787