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

12 Months Ended

Dec. 31, 2018

Line of Credit Facility [Line Items]

Summary of Long-Term Debt

As of December 31, 2018 and 2017, our long-term debt and capital lease obligations are summarized as follows (in thousands):

	December 31,
	2018		2017
Credit Facility	$	156,843	$	177,857
Convertible debt1	195,184		209,892
Capital lease obligations	5,356		—
Total long-term debt and capital lease obligations	357,383		387,749
Less: current portion of long-term debt and capital lease obligations	569		—
Total long-term debt and capital lease obligations, less current portion	$	356,814	$	387,749

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1 Comprised of principal amount outstanding plus embedded derivative liability (if any), 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, excluding capital leases, are as follows (in thousands):

December 31
2019	$	—
2020	156,843
2021	—
2022	—
2023	230,000
Thereafter	—
Total	$	386,843

Convertible Debt

As of December 31, 2018 and 2017, the Notes were recorded in our consolidated balance sheet as follows (in thousands):

	December 31,
	2018			2017
Liability component:
Principal	$	230,000		$	230,000
Unamortized issuance costs	(5,834		)	(6,820		)
Unamortized discount	(28,982		)	(33,882		)
Net carrying amount of the liability component	195,184			189,298
Embedded derivative liability1	—			20,594
Total2	$	195,184		$	209,892
Equity component:
Carrying amount of the equity component, net of issuance costs3	$	13,912		$	13,912

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1 The embedded derivative liability was reclassified to stockholders’ equity as of May 17, 2018 and is no longer marked to fair value each period, as discussed further below. It is excluded from the table above as of December 31, 2018.

2    Included in the Long-term debt line of the consolidated balance sheets.

3    Relates to the portion of the Notes accounted for under ASC 470-20 (defined below) and is included in the “Additional paid-in capital” line of the consolidated balance sheets.

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

	Twelve Months Ended December 31,
	2018			2017
Coupon interest	$	11,500		$	4,823
Amortization of debt discount and issuance costs	5,886			2,310
Total interest expense on convertible senior notes	$	17,386		$	7,133
Effective interest rate	9.12		%	9.12		%

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

The amounts recognized in other comprehensive income (loss), reclassified into income (loss) and the amounts recognized in income (loss) for the years ended December 31, 2018, 2017 and 2016 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,								Twelve Months Ended December 31,
	2018			2017			2016		2018		2017		2016
Derivatives Classified as Hedging Instruments
Net investment hedge	$	658		$	(1,802	)	481		$	—	$	—	$	—
	Gain (Loss) Recognized in Income (Loss)1
	Twelve Months Ended December 31,
	2018			2017			2016
Derivatives Not Classified as Hedging Instruments
Embedded derivative in convertible debt	$	(24,783	)	$	818		$	—

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1    Reflected as “Loss (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, 2018					December 31, 2017
	Classification	Balance Sheet Location	Fair Value			Classification	Balance Sheet Location	Fair Value
Derivatives Classified as Hedging Instruments
Net investment hedge	Liability	Long-term debt	$	(3,904	)	Liability	Long-term debt	$	(3,246	)
Derivatives Not Classified as Hedging Instruments
Embedded derivative in convertible debt	Liability	Long-term debt	$	—		Liability	Long-term debt	$	20,594

Obligations under non-cancellable operating and capital leases

We enter into operating and capital leases to rent facilities and obtain vehicles and equipment for our field operations. Our obligations under non-cancellable operating and capital leases at December 31, 2018, primarily consisting of facility and auto leases, are as follows (in thousands):

Twelve Months Ended December 31,
	Operating		Capital
2019	$	23,315	$	583
2020	16,858		500
2021	12,577		504
2022	9,873		524
2023	7,846		525
Thereafter	23,224		5,631
Total minimum lease payments	$	93,693	$	8,267
Less amounts representing interest			(2,911		)
Present value of future minimum lease payments			$	5,356