Debt (Tables)

9 Months Ended

Oct. 31, 2014

Debt Disclosure [Abstract]

Summary of Convertible Senior Notes

Convertible Senior Notes

	Par Value		Equity Component Recorded at Issuance			Liability Component of Par Value as of
(In thousands)						October 31, 2014		January 31, 2014
0.75% Convertible Senior Notes due January 15, 2015	$	181,637	$	125,530	(1)	$	179,755	$	542,159
0.25% Convertible Senior Notes due April 1, 2018	1,150,000		122,421		(2)	1,064,683		1,046,930

___________ 

(1)This amount represents the equity component recorded at the initial issuance of the 0.75% convertible senior notes. As of October 31, 2014, $1.9 million was reclassified as temporary equity on the condensed consolidated balance sheet as these notes are convertible.

(2)This amount represents the equity component recorded at the initial issuance of the 0.25% convertible senior notes.

Schedule of Conversion of Senior Notes to Common Stock

If converted, holders of the 0.25% Senior Notes will receive cash equal to the principal amount, and at the Company’s election, cash, shares of the Company’s common stock, or a combination of cash and shares, for any amounts in excess of the principal amounts. If converted, holders of the 0.75% Senior Notes will receive cash equal to the principal amount and shares of the Company’s common stock for any amounts in excess of the principal amounts.

	Conversion Rate per $1,000 Par Value	Initial Conversion Price per Share		Convertible Date
0.75% Senior Notes	46.8588	$	21.34	October 15, 2014
0.25% Senior Notes	15.0512	$	66.44	January 1, 2018

Schedule of Convertible Senior Notes

The Notes consisted of the following (in thousands):

	As of
	October 31, 2014			January 31, 2014
Liability component :
Principal:
0.75% Senior Notes (1)	$	181,637		$	568,864
0.25% Senior Notes (1)	1,150,000			1,150,000
Less: debt discount, net
0.75% Senior Notes (2)	(1,882		)	(26,705		)
0.25% Senior Notes (3)	(85,317		)	(103,070		)
Net carrying amount	$	1,244,438		$	1,589,089

(1)The effective interest rates of the 0.75% Senior Notes and 0.25% Senior Notes are 5.86% and 2.53%, respectively. These interest rates were based on the interest rates of a similar liability at the time of issuance that did not have an associated convertible feature.

(2)Included in the condensed consolidated balance sheets within Convertible 0.75% Senior Notes (which is classified as a current liability, as these notes were convertible) and is amortized over the life of the 0.75% Senior Notes using the effective interest rate method.

(3)Included in the condensed consolidated balance sheets within Convertible 0.25% Senior Notes (which is classified as a noncurrent liability) and is amortized over the life of the 0.25% Senior Notes using the effective interest rate method.

Summary of Hedge Notes

To minimize the impact of potential economic dilution upon conversion of the Notes, the Company entered into convertible note hedge transactions with respect to its common stock (the “Note Hedges”).

(in thousands, except for shares)	Date	Purchase		Shares
0.75% Note Hedges	January 2010	$	126,500	26,943,812
0.25% Note Hedges	March 2013	$	153,800	17,308,880

Components of Warrants

Warrants

	Date	Proceeds (in thousands)		Shares	Strike Price
0.75% Warrants	January 2010	$	59,300	26,943,812	$	29.88
0.25% Warrants	March 2013	$	84,800	17,308,880	$	90.40

Schedule of Interest Expense

The following table sets forth total interest expense recognized related to the Notes, the Term Loan and the Credit Facility prior to capitalization of interest (in thousands):

	Three Months Ended October 31,				Nine Months Ended October 31,
	2014		2013		2014		2013
Contractual interest expense	$	2,190	$	3,329	$	7,777	$	6,922
Amortization of debt issuance costs	1,132		1,275		3,490		3,195
Amortization of debt discount	8,637		12,547		28,837		34,139
	$	11,959	$	17,151	$	40,104	$	44,256