Subordinated Notes (Tables)

12 Months Ended

Dec. 31, 2014

Subordinated Notes consists of the following:


	December 31
	2014		2013
	(In thousands)
Subordinated Notes	$	—	$	17,306
Current maturities of Subordinated Notes		—		(17,306	)

Subordinated Notes, excluding current portion	$	—	$	—

Schedule of Roll-forward of Fair Value of Level 3 (Significant Unobservable Inputs) Convertible Notes

The following table presents a roll-forward of the fair value of Level 3 (significant unobservable inputs) Convertible Notes for the years ended December 31, 2014, 2013 and 2012:


	Investor Notes			Arcapita Notes			Total Convertible Notes
Balance at December 31, 2011	$	50,118		$	585		$	50,703
Issuances of convertible notes		21,991			2,900			24,891
Change in fair value included in interest expense		18,811			683			19,494

Balance at December 31, 2012		90,920			4,168			95,088
Issuances of convertible notes		2,090			1,440			3,530
Fair value of notes exchanged for senior convertible notes		(5,971	)		(1,282	)		(7,253	)
Gain on extinguishment of convertible notes		(8,498	)		(400	)		(8,898	)
Change in fair value included in interest expense		8,938			469			9,407

Balance at December 31, 2013		87,479			4,395			91,874
Change in fair value included in interest expense		35,036			2,092			37,128
Conversion of Convertible Notes		(122,515	)		(6,487	)		(129,002	)

Balance at December 31, 2014	$	—		$	—		$	—

Senior Convertible Notes [Member]

Schedule of Roll-forward of Fair Value of Level 3 (Significant Unobservable Inputs) Convertible Notes

The following table presents a roll-forward of the fair value of Level 3 (significant unobservable inputs) Senior Convertible Notes for the years ended December 31, 2014, 2013 and 2012:


	March 2013 Investor Notes			March 2013 Arcapita Notes			Total Senior Convertible Notes
Beginning balance as of December 31, 2012	$	—		$	—		$	—
Issuances of senior convertible notes		13,435			1,536			14,971
Fair value of notes exchanged for senior convertible notes		6,132			1,444			7,576
Conversion of the Senior Convertible Notes		4,915			673			5,588

Balance at December 31, 2013		24,482			3,653			28,135
Change in fair value included in interest expense		9,803			1,570			11,373
Conversion of Convertible Notes		(34,285	)		(5,223	)		(39,508	)

Balance at December 31, 2014	$	—		$	—		$	—

Subordinated Notes [Member]

Schedule of Roll-forward of Fair Value of Level 3 (Significant Unobservable Inputs) Convertible Notes

The following table presents a roll-forward of the fair value of Level 3 (significant unobservable inputs) Subordinated Notes for the years ended December 31, 2014, 2013 and 2012:


Balance at December 31, 2011	$	—
Transfer into Level 3 on September 26, 2012 (1)		12,435
Change in fair value included in interest expense		1,100

Balance at December 31, 2012		13,535
Change in fair value included in interest expense		3,771

Balance at December 31, 2013		17,306
Change in fair value included in interest expense		1,543
Repayment		(18,849	)

Balance at December 31, 2014	$	—

(1)	Fair value option election was made on September 26, 2012.

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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