Convertible Notes (Tables)

9 Months Ended

Nov. 30, 2017

As of November 30, 2017 and February 28, 2017, the convertible notes consisted of the following (in thousands):



	November 30, 2017			February 28, 2017
Liability component:
Principal	$	804,994		$	805,000
Less: debt issuance costs	(5,395		)	(7,442		)
Less: debt discount	(37,232		)	(51,925		)
Net carrying amount	$	762,367		$	745,633
Equity component (1)	$	96,890		$	96,890
__________
(1) Recognized in the Consolidated Balance Sheets in Additional paid-in capital.

Schedule of Total Interest Expense Recognized Related to Convertible Notes

The following table includes total interest expense recognized related to the convertible notes for the three and nine months ended November 30, 2017 and November 30, 2016 (in thousands):



	Three Months Ended				Nine Months Ended
	November 30, 2017		November 30, 2016		November 30, 2017		November 30, 2016
Coupon rate 0.25% per year, payable semiannually	$	503	$	503	$	1,509	$	1,509
Amortization of convertible note issuance costs — liability component	694		653		2,047		1,927
Accretion of debt discount	4,936		4,800		14,693		14,284
Total interest expense related to convertible notes	$	6,133	$	5,956	$	18,249	$	17,720

Summary of Fair Value of Convertible Notes and Carrying Value of Convertible Notes

The fair value of the convertible notes, which was determined based on inputs that are observable in the market (Level 2), and the carrying value of the convertible notes (the carrying value excludes the equity component of the convertible notes classified in equity) are as follows (in thousands):



	As of November 30, 2017
	Fair Value		Carrying Value
Convertible notes	$	776,424	$	762,367