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Debt (Tables)

3 Months Ended

Oct. 31, 2020

The following table presents details of our Notes (number of shares in millions):


	Conversion Rate per $1,000 Principal	Initial Conversion Price		Convertible Date	Initial Number of Shares
2023 Notes	3.7545	$	266.35	April 1, 2023	6.4
2025 Notes	3.3602	$	297.60	March 1, 2025	6.7

The following table sets forth the components of the Notes as of October 31, 2020 and July 31, 2020 (in millions):


	October 31, 2020						July 31, 2020
	2023 Notes		2025 Notes		Total			2023 Notes		2025 Notes		Total
Liability component:
Principal	$	1,693.0	$	2,000.0	$	3,693.0		$	1,693.0	$	2,000.0	$	3,693.0
Less: debt discount and debt issuance costs, net of amortization	183.8		390.1		573.9			200.0		408.9		608.9
Net carrying amount	$	1,509.2	$	1,609.9	$	3,119.1		$	1,493.0	$	1,591.1	$	3,084.1

Equity component	$	315.0	$	403.0	$	718.0		$	315.0	$	403.0	$	718.0

The following table sets forth interest expense recognized related to the Notes (dollars in millions):


	Three Months Ended October 31,
		2020	2019
				2023 Notes			2025 Notes			Total		2023 Notes			Total
Contractual interest expense				$	3.2		$	1.9		$	5.1	$	3.2		$	3.2
Amortization of debt discount				15.7			18.2			33.9		15.0			15.0
Amortization of debt issuance costs				0.5			0.7			1.2		0.5			0.5
Total interest expense recognized				$	19.4		$	20.8		$	40.2	$	18.7		$	18.7
Effective interest rate of the liability component				5.2		%	5.4		%			5.2		%

The following table presents details of our Note Hedges (in millions):

The following table presents details of the Warrants (in millions, except per share data):