Temporary Equity (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of components of temporary equity

Components comprising the carrying value of temporary equity include the following (in thousands):

	As of December 31, 2014		As of December 31, 2013
Reclassification of Equity Component(1)	$	12,336	$	34,155
Common stock subject to repurchase(2)		10,882		10,882

Total	$	23,218	$	45,037

(1)	Represents the reclassification of the Equity Component equal to the unamortized discount of our Convertible Notes as of December 31, 2014 from additional paid-in capital to temporary equity. As of December 31, 2014, our Convertible Notes were convertible at the election of their holders as disclosed above in Note 8—Debt—Convertible Notes Due 2016.
(2)	In connection with our amended 2007 agreement with Toray Industries Inc. (Toray), we issued 400,000 shares of our common stock and provided Toray the right to request that we repurchase the shares at a price of $27.21 per share.

- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References+ Details