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Convertible Senior Notes (Tables)

3 Months Ended

Mar. 31, 2019

Convertible Notes Payable [Abstract]

consisted of the following (in thousands):



	March 31, 2019			December 31, 2018
Liability component:
Principal:
2022 Notes	$	782,500		$	782,500
Less: debt issuance cost and debt discount, net of amortization
2022 Notes	(112,625		)	(120,793		)
Net carrying amount	$	669,875		$	661,707



	2022 Notes
Equity component recorded at issuance:
Note	$	162,039
Issuance cost	(2,148		)
Net amount recorded in equity	$	159,891

The Conversion Condition for the 2022 Notes was met for the quarters ended June 30, 2018, September 30, 2018 and March 31, 2019.



	Convertible Date	Initial Conversion Price per Share		Initial Conversion Rate per $1,000 Par Value	Initial Number of Shares
2022 Notes	February 1, 2022	$	134.75	7.42 shares	5,806,936
2018 Notes	July 1, 2018	$	73.88	13.54 shares	7,783,023

Schedule of Estimated Fair Values of Convertible Senior Notes

air value of the 2022 Notes at March 31, 2019 and December 31, 2018 based on the closing trading price per $100 of the Notes were as follows (in thousands):



	March 31, 2019		December 31, 2018
2022 Notes	$	1,444,847	$	1,105,281

Schedule of Interest Expense Related to Convertible Senior Notes

able sets forth total interest expense recognized related to the Notes (in thousands):



	Three Months Ended March 31,
	2019		2018
Amortization of debt issuance cost
2022 Notes	$	394	$	376
2018 Notes	—		498
Amortization of debt discount
2022 Notes	7,774		7,402
2018 Notes	—		8,788
Total	$	8,168	$	17,064
Effective interest rate of the liability component
2022 Notes	4.75%
2018 Notes	6.50%

Note Hedges

Schedule of Note Hedges

Schedule of Warrants

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details