CONVERTIBLE SENIOR NOTES (Tables)

9 Months Ended

Apr. 30, 2018

Debt Disclosure [Abstract]

Net Proceeds from Notes

The total net proceeds from the Notes are as follows:

	Amount
	(in thousands)
Principal amount	$	575,000
Less: initial purchasers' discount	(10,781		)
Less: cost of the bond hedges	(143,175		)
Add: proceeds from the sale of warrants	87,975
Less: other issuance costs	(707		)
Net proceeds	$	508,312

Components of Notes

The Notes consisted of the following:

	As of April 30, 2018
	(in thousands)
Principal amounts:
Principal	$	575,000
Unamortized debt discount(1)	(144,378		)
Unamortized debt issuance costs(1)	(8,055		)
Net carrying amount	$	422,567
Carrying amount of the equity component(2)	$	148,598

(1) Included in the condensed consolidated balance sheets within "Convertible senior notes, net" and amortized over the remaining life of the Notes using the effective interest rate method. The effective interest rate is 6.62%.

(2)

Included in the condensed consolidated balance sheets within additional paid-in capital, net of $3.0 million in equity issuance costs.

Interest Expense Recognized

The following table sets forth the total interest expense recognized related to the Notes:

	Three Months Ended April 30, 2018		Nine Months Ended April 30, 2018
	(in thousands)
Interest expense related to amortization of debt discount	$	6,550	$	7,250
Interest expense related to amortization of debt issuance costs	366		404
Total interest expense	$	6,916	$	7,654