DEBT DEBT (Tables)

12 Months Ended

Jul. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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

Schedule of Debt

The Notes consisted of the following:

	As of July 31,
	2018			2019
	(in thousands)
Principal amounts:
Principal	$	575,000		$	575,000
Unamortized debt discount (1)	(137,719		)	(109,956		)
Unamortized debt issuance costs (1)	(7,683		)	(6,134		)
Net carrying amount	$	429,598		$	458,910
Carrying amount of equity component (2)	$	148,598		$	148,598

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

Interest Income and Interest Expense Disclosure

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

	Fiscal Year Ended July 31,
	2018		2019
	(in thousands)
Interest expense related to amortization of debt discount	$	13,909	$	27,764
Interest expense related to amortization of debt issuance costs	776		1,549
Total interest expense	$	14,685	$	29,313