Convertible Notes and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table presents the components of the Notes as of December 31, 2018 and December 31, 2017 (in thousands, except for years and percentages):



	December 31,
	2018			2017
Liability:
Principal amount	$	128,250		$	128,250
Less: Debt discount, net of amortization	(11,996		)	(17,404		)
Less: Debt issuance costs, net of amortization	(1,446		)	(2,098		)
Carrying amount	$	114,808		$	108,748
Remaining amortization period (years)	1.9 years			2.9 years
Effective interest rate on liability component	9.94		%	9.94		%
Carrying amount of equity component	$	26,062		$	26,062

Convertible Interest Expense Recognized

The following table presents interest expense recognized related to the Notes (in thousands):



	Year ended December 31,
	2018		2017		2016
Contractual interest expense	$	5,130	$	5,130	$	5,130
Amortization of debt discount	5,408		4,898		4,430
Amortization of debt issuance costs	652		591		534
Total interest expense recognized	$	11,190	$	10,619	$	10,094

Schedule of Debt

The Company has a variety of debt and credit facilities in France to satisfy the financing requirements of TVN operations. These arrangements are summarized in the table below (in thousands):



	December 31,
	2018			2017
Financing from French government agencies related to various government incentive programs ⁽¹⁾	$	18,783		$	20,565
Term loans	914			1,282
Obligations under capital leases	162			1,099
Total debt obligations	19,859			22,946
Less: current portion	(7,175		)	(7,610		)
Long-term portion	$	12,684		$	15,336

(1) Loans backed by French R&D tax credit receivables were $16.7 million and $17.7 million as of December 31, 2018 and 2017, respectively. As of December 31, 2018, the TVN French Subsidiary had an aggregate of $26.5 million of R&D tax credit receivables from the French government from 2019 through 2022. (See Note 9, “Certain Balance Sheet Components” for more information). These tax loans have a fixed rate of 0.6%, plus EURIBOR 1 month plus 1.3% and mature between 2019 through 2021. The remaining loans of $2.1 million and $2.9 million as of December 31, 2018 and 2017, respectively, primarily relate to financial support from French government agencies for R&D innovation projects at minimal interest rates, and the loans outstanding at December 31, 2018 mature between 2019 through 2025.

Schedule of Maturities of Long-term Debt

The table below presents the future minimum repayments of other debts and capital lease obligations as of December 31, 2018 (in thousands):



Years ending December 31,	Capital lease obligations		Other Debt obligations
2019	91		7,084
2020	49		6,607
2021	22		5,333
2022	—		452
2023	—		155
Thereafter	—		66
Total	$	162	$	19,697