| Schedule of Debt |
Other Debt: | | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Delayed draw term loan | $ | — |
| | $ | 13.0 |
| Capital lease | — |
| | 0.3 |
| Unamortized deferred financing costs | — |
| | (0.3 | ) | Total other debt | $ | — |
| | $ | 13.0 |
|
| | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Senior debt | $ | 388.0 |
| | $ | 91.8 |
| Senior secured notes | — |
| | 449.4 |
| Convertible senior notes | 240.0 |
| | — |
| Convertible subordinated notes | 35.6 |
| | 84.8 |
| Other debt | — |
| | 13.0 |
| Total debt, carrying amount | 663.6 |
| | 639.0 |
| Less: Amounts due within one year | (55.6 | ) | | (5.3 | ) | Total long-term debt, carrying amount | $ | 608.0 |
| | $ | 633.7 |
|
As of December 31, 2016, the 2¼% Notes consisted of the following (in millions, except years, percentages, conversion rate, and conversion price): | | | | | Carrying value, long-term | $ | 240.0 |
| Unamortized discount and deferred financing costs | 60.0 |
| Principal amount | $ | 300.0 |
| Carrying amount of equity component, net of equity issuance costs | $ | 54.5 |
| Remaining amortization period (years) | 7.0 |
| Effective interest rate | 5.8 | % | Conversion rate (shares of common stock per $1,000 principal amount) | 38.4615 |
| Conversion price (per share of common stock) | $ | 26.00 |
|
The following table presents the interest expense components for the 2¼% Notes for fiscal 2016 (in millions): | | | | | Interest expense-contractual interest | $ | 0.3 |
| Interest expense-amortization of debt discount | 0.3 |
| Interest expense-amortization of deferred financing costs (1) | — |
|
________ (1) Less than $0.1 million. Convertible Senior Notes: | | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Senior convertible notes, bearing interest at 2.25% per annum, interest payments due in June and December, maturing in December 2023 | $ | 300.0 |
| | $ | — |
| Unamortized discount and deferred financing costs | (60.0 | ) | | — |
| Total convertible senior notes | $ | 240.0 |
| | $ | — |
|
Senior Secured Notes: | | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Senior secured notes, bearing interest at 7.125% per annum, interest payments due in March and September, maturing in March 2021 | $ | — |
| | $ | 460.0 |
| Unamortized deferred financing costs | — |
| | (10.6 | ) | Total senior secured notes | $ | — |
| | $ | 449.4 |
|
Senior Debt: | | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Term loan, bearing interest at variable rates (rate of 3.02% as of December 31, 2016), maturing in June 2021 | $ | 390.0 |
| | $ | 92.5 |
| Unamortized deferred financing costs | (2.0 | ) | | (0.7 | ) | Total senior debt | $ | 388.0 |
| | $ | 91.8 |
|
Convertible Subordinated Notes: | | | | | | | | | | As of December 31, | | 2016 | | 2015 | | (In millions) | Convertible subordinated debentures, bearing interest at 2.25% per annum, interest payments due in May and November, maturing in November 2024 | $ | — |
| | $ | 0.2 |
| Convertible subordinated debentures, bearing interest at 4.0625% per annum, interest payments due in June and December, maturing in December 2039 | 35.6 |
| | 84.6 |
| Total convertible subordinated notes | $ | 35.6 |
| | $ | 84.8 |
|
|
| Schedule of Maturities of Long-Term Debt |
As of December 31, 2016, the earlier of the Company’s contractual debt principal maturities or the next debt redemption date that could be exercised at the option of the debt holder, are summarized by fiscal year: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | 2017 | | 2018 | | 2019 | | 2020 | | 2021 | | 2023 | | (In millions) | Senior debt | $ | 390.0 |
| | $ | 20.0 |
| | $ | 25.0 |
| | $ | 30.0 |
| | $ | 35.0 |
| | $ | 280.0 |
| | $ | — |
| Convertible senior notes | 300.0 |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 300.0 |
| Convertible subordinated notes (1) | 35.6 |
| | 35.6 |
| | — |
| | — |
| | — |
| | — |
| | — |
| Total debt principal | $ | 725.6 |
| | $ | 55.6 |
| | $ | 25.0 |
| | $ | 30.0 |
| | $ | 35.0 |
| | $ | 280.0 |
| | $ | 300.0 |
|
_______ | | (1) | In December 2016, the Company notified holders of its 4 1/16% Debentures that the Company would redeem, on February 3, 2017, all of their 4 1/16% Debentures at a purchase price equal to 100% of the principal amount of the 4 1/16% Debentures to be redeemed, plus any accrued and unpaid interest. In January 2017, $35.6 million of the 4 1/16% Debentures (the entire amount outstanding as of December 31, 2016) were converted to 3.9 million shares of common stock. |
|