LONG-TERM DEBT, DERIVATIVES AND LETTERS OF CREDIT (Tables)

12 Months Ended

Dec. 31, 2017

Line of Credit Facility [Line Items]

Summary of Long-Term Debt

As of December 31, 2017 and 2016, our long-term debt is summarized as follows (in thousands):

	December 31,
	2017		2016
Credit Facility	$	177,857	$	366,911
Convertible debt1	209,892		—
Total long-term debt	387,749		366,911
Less: current portion of long-term debt	—		20,000
Total long-term debt, less current portion	$	387,749	$	346,911

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1 Comprised of principal amount outstanding plus embedded derivative liability, less unamortized discount and issuance costs. See Convertible Debt section below for additional information.

Schedule of Future Maturities of Long-term Debt

Future maturities of long-term debt, are as follows (in thousands):

December 31
2018	$	—
2019	—
2020	177,857
2021	—
2022	—
Thereafter	230,000
Total	$	407,857

Convertible Debt

As of December 31, 2017, the Notes were recorded in our consolidated balance sheet as follows (in thousands):

	December 31, 2017
Liability component:
Principal	$	230,000
Unamortized issuance costs	(6,820		)
Unamortized discount	(33,882		)
Net carrying amount of the liability component	189,298
Embedded derivative liability	20,594
Total1	$	209,892
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	13,912

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1    Included in the Long-term debt line of the consolidated balance sheet.

2    Included in the Additional paid-in capital line of the consolidated balance sheet.

The following table sets forth interest expense information related to the Notes (in thousands, except percentage):

	Twelve Months Ended December 31, 2017
Coupon interest	$	4,823
Amortization of debt discount and issuance costs	2,310
Total interest expense on convertible senior notes	$	7,133
Effective interest rate	9.12		%

Amounts Recognized In Other Comprehensive Income (Loss), and Reclassified Into Income (Loss)

ended December 31, 2017 and 2016, the seven months ended December 31, 2015 and the year ended May 31, 2015 are as follows (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Income (Loss)									Gain (Loss) Reclassified from Other Comprehensive Income (Loss) to Earnings
	Twelve Months Ended December 31,					Seven Months Ended December 31,		Twelve Months Ended May 31,		Twelve Months Ended December 31,				Seven Months Ended December 31,		Twelve Months Ended May 31,
	2017			2016		2015		2015		2017		2016		2015		2015
Derivatives Classified as Hedging Instruments
Net investment hedge	$	(1,802	)	$	481	101		$	3,237	$	—	$	—	$	—	$	—
	Gain (Loss) Recognized in Income (Loss)1
	Twelve Months Ended December 31,					Seven Months Ended December 31,		Twelve Months Ended May 31,
	2017			2016		2015		2015
Derivatives Not Classified as Hedging Instruments
Embedded derivative in convertible debt	$	818		$	—	$	—	$	—

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1    Reflected as “Gain on convertible debt embedded derivative” in the consolidated statements of operations.

Fair Value Totals and Balance Sheet Classification for Derivatives Designated As Hedges

The following table presents the fair value totals and balance sheet classification for derivatives designated as hedges and derivatives not designated as hedges under ASC 815 (in thousands):

	December 31, 2017					December 31, 2016
	Classification	Balance Sheet Location	Fair Value			Classification	Balance Sheet Location	Fair Value
Derivatives Classified as Hedging Instruments
Net investment hedge	Liability	Long-term debt	$	(3,246	)	Liability	Long-term debt	$	(5,048	)
Derivatives Not Classified as Hedging Instruments
Embedded derivative in convertible debt	Liability	Long-term debt	$	20,594

Obligations under Non-cancellable Operating Leases

We enter into operating leases to rent facilities and obtain vehicles and equipment for our field operations. Our obligations under non-cancellable operating leases, primarily consisting of facility and auto leases, were approximately $119.2 million at December 31, 2017 and are as follows (in thousands):

Twelve Months Ended December 31,	Operating Leases
2018	$	33,141
2019	24,438
2020	17,755
2021	13,509
2022	9,193
Thereafter	21,129
Total	$	119,165