Convertible Notes (Tables)

3 Months Ended

May 31, 2017

Debt Disclosure [Abstract]

Components of Convertible Notes

As of May 31, 2017 and February 28, 2017, the convertible notes consisted of the following (in thousands):

	May 31, 2017			February 28, 2017
Liability component:
Principal	$	805,000		$	805,000
Less: debt issuance costs		(6,769	)		(7,442	)
Less: debt discount		(47,058	)		(51,925	)
Net carrying amount	$	751,173		$	745,633
Equity component (1)	$	96,890		$	96,890

(1) Recorded 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 months ended May 31, 2017 and May 31, 2016 (in thousands):

	Three Months Ended
	May 31, 2017		May 31, 2016
Coupon rate 0.25% per year, payable semiannually	$	503	$	503
Amortization of convertible note issuance costs—liability component		673		633
Accretion of debt discount		4,867		4,732
Total interest expense related to convertible notes	$	6,043	$	5,868

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 May 31, 2017
	Fair Value		Carrying Value
Convertible notes	$	767,756	$	751,173