Debt

6 Months Ended

Jun. 30, 2019

Debt

12.     Debt

The components of the convertible notes are as follows (in thousands):

				Carrying Amount,
	Interest Rates			June 30,		December 31,
Debt	June 30, 2019		Maturities	2019		2018
1.25% Convertible Senior Notes due 2020	1.25	%	2020	$	17,862	$	17,434
					17,862		17,434
Less current portion					—		—
				$	17,862	$	17,434

The carrying amount and fair value of our convertible notes are as follows (in thousands):

	June 30, 2019				December 31, 2018
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
1.25% Convertible Senior Notes due 2020	$	17,862	$	31,695	$	17,434	$	25,073
	$	17,862	$	31,695	$	17,434	$	25,073

The fair value of the 1.25% Convertible Senior Notes due November 15, 2020 (the “2020 Notes”) is based on data from readily available pricing sources which utilize market observable inputs and other characteristics for similar types of instruments, and, therefore, is classified within Level 2 in the fair value hierarchy.

Prior to May 14, 2014, the 2020 Notes were not convertible except in connection with a make-whole fundamental change, as defined in the indenture. Beginning on, and including, May 15, 2014, the 2020 Notes are convertible prior to the close of business on the business day immediately preceding May 15, 2020 only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on March 31, 2014 (and only during such

calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the 2020 Notes on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of the 2020 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the 2020 Notes on each such trading day; or (iii) upon the occurrence of specified corporate events. On or after May 15, 2020 until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, the 2020 Notes are convertible at any time, regardless of the foregoing circumstances. Upon conversion we will pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at our election.

On July 1, 2019, the 2020 Notes became convertible through at least September 30, 2019, based on meeting the conversion criteria related to the sale price of our common stock during the calendar quarter ended June 30, 2019 as described in (i) above. The 2020 Notes are reflected in long term liabilities on the condensed consolidated balance sheet as of June 30, 2019 as management’s intent is to settle any conversions of the 2020 Notes during this period in shares of our common stock.