Convertible Senior Notes (Tables)

3 Months Ended

Mar. 31, 2016

The Notes consist of the following (in thousands):



	March 31, 2016		December 31, 2015
Liability component:
Principal	345,000		345,000
Less: debt discount, net of amortization and reclassification of debt issuance costs	(60,705	)	(63,373	)
Net carrying amount	284,295		281,627
Equity component (a)	73,013		73,013


(a)	Recorded in the condensed consolidated balance sheets within additional paid-in capital, net of $2.0 million issuance costs in equity

Schedule of total interest expense related to notes

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



	Three Months Ended March 31,
	2016		2015
1.25% coupon	$	1,078	$	1,078
Amortization of debt issuance costs	179		134
Amortization of debt discount	2,488		2,368
	$	3,745	$	3,580

Schedule of carrying value of debt instrument

As of March 31, 2016 and December 31, 2015, the fair value of the Notes, which was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted price of the Notes in an over-the-counter market (Level 2), and carrying value of debt instruments (carrying value excludes the equity component of the Company’s convertible notes classified in equity) were as follows (in thousands):



	March 31, 2016				December 31, 2015
	Fair Value		Carrying Value		Fair Value		Carrying Value
Convertible Senior Notes	$	312,570	$	284,295	$	307,481	$	281,627