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DEBT (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Summary of Convertible Debt

The following table summarizes information regarding the Company’s convertible debt at December 31:

 

 

 

2017

 

 

2016

 

Convertible Notes due 2017

 

$

 

 

$

22,503

 

Unamortized deferred offering costs

 

 

 

 

 

(25

)

Convertible Notes due 2017, net

 

 

 

 

 

22,478

 

 

 

 

 

 

 

 

 

 

Convertible Notes due 2018

 

 

374,980

 

 

 

374,980

 

Unamortized discount

 

 

(12,488

)

 

 

(27,566

)

Unamortized deferred offering costs

 

 

(1,543

)

 

 

(3,484

)

Convertible Notes due 2018, net

 

 

360,949

 

 

 

343,930

 

 

 

 

 

 

 

 

 

 

Convertible Notes due 2020

 

 

374,993

 

 

 

374,993

 

Unamortized discount

 

 

(40,287

)

 

 

(53,239

)

Unamortized deferred offering costs

 

 

(3,631

)

 

 

(4,923

)

Convertible Notes due 2020, net

 

 

331,075

 

 

 

316,831

 

 

 

 

 

 

 

 

 

 

Convertible Notes due in 2024

 

 

495,000

 

 

 

 

Unamortized discount

 

 

(9,355

)

 

 

 

Unamortized deferred offering costs

 

 

(3,199

)

 

 

 

Convertible Notes due in 2024, net

 

 

482,446

 

 

 

 

 

 

 

 

 

 

 

 

 

Total convertible debt, net

 

$

1,174,470

 

 

$

683,239

 

Fair value of fixed rate convertible debt

 

 

 

 

 

 

 

 

Convertible Notes due in 2017 (1)

 

$

 

 

$

90,977

 

Convertible Notes due in 2018 (1)

 

 

403,955

 

 

 

423,202

 

Convertible Notes due in 2020 (1)

 

 

446,470

 

 

 

442,754

 

Convertible Notes due in 2024 (1)

 

 

493,894

 

 

 

 

Total

 

$

1,344,319

 

 

$

956,933

 

 

 

(1)

The fair value of the Company’s fixed rate convertible debt is based on open market trades and is classified as Level 1 in the fair value hierarchy.

Summary of Interest Expense on Debt

Interest expense on the Company’s debt consisted of the following:

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Coupon interest

 

$

10,407

 

 

$

9,555

 

 

$

9,750

 

Amortization of debt issuance costs

 

 

3,725

 

 

 

3,367

 

 

 

3,294

 

Accretion of discount on convertible notes

 

 

28,575

 

 

 

26,577

 

 

 

25,200

 

Total interest expense on convertible debt

 

$

42,707

 

 

$

39,499

 

 

$

38,244