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Convertible Senior Notes (Tables)
6 Months Ended
Jun. 30, 2019
2025 Notes  
Convertible Senior Notes  
Summary of the Notes

The 2025 Notes consist of the following (in thousands):

As of June 30,

As of December 31,

Liability component

    

2019

    

2018

Principal

$

287,500

$

287,500

Less: Debt discount, net (1)

(87,185)

(92,913)

Net carrying amount

$

200,315

$

194,587

(1)Included in the accompanying consolidated balance sheets within convertible senior notes and amortized to interest expense over the expected life of the 2025 Notes using the effective interest rate method.
Schedule of total interest expense recognized related to the Notes

The following table sets forth total interest expense recognized related to the 2025 Notes (in thousands):

Quarters Ended

Six Months Ended 

June 30,

June 30,

    

2019

2018

    

2019

2018

Contractual interest expense

 

$

1,002

$

585

$

1,977

$

585

Amortization of debt discount

 

2,892

 

1,493

 

5,728

 

1,493

Total

 

$

3,894

$

2,078

$

7,705

$

2,078

Effective interest rate of the liability component

 

7.9

%  

 

7.9

%  

 

7.9

%

 

7.9

%  

2022 Notes  
Convertible Senior Notes  
Summary of the Notes

The 2022 Notes consist of the following (in thousands):

As of June 30,

As of December 31,

Liability component

    

2019

    

2018

Principal

$

275,000

$

275,000

Less: Debt discount, net (2)

(48,118)

(54,904)

Net carrying amount

$

226,882

$

220,096

(1)Included in the accompanying consolidated balance sheets within convertible senior notes and amortized to interest expense over the expected life of the 2022 Notes using the effective interest rate method.
Schedule of total interest expense recognized related to the Notes

The following table sets forth total interest expense recognized related to the 2022 Notes (in thousands):

Quarters Ended

Six Months Ended 

June 30,

June 30,

2019

  

2018

    

    

2019

  

2018

    

Contractual interest expense

$

2,091

$

2,057

 

$

4,125

$

4,091

Amortization of debt discount

 

3,412

 

3,095

 

6,786

 

6,157

Total

$

5,503

$

5,152

 

$

10,911

$

10,248

Effective interest rate of the liability component

 

10.0

%  

 

10.0

%  

 

10.0

%  

 

10.0

%