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Convertible Senior Notes (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Summary of Convertible Debt
The Notes consisted of the following (in thousands):
 
As of March 31, 2020
 
As of December 31, 2019
 
2023 Notes
 
2024 Notes
 
2026 Notes
 
2023 Notes
 
2024 Notes
 
2026 Notes
Liability:
 
 
 
 
 
 
 
 
 
 
 
Principal
$
84,759

 
$
400,000

 
$
400,000

 
$
84,759

 
$
400,000

 
$
400,000

Less: debt discount and issuance costs, net of amortization
(15,526
)
 
(69,140
)
 
(93,943
)
 
(16,605
)
 
(72,669
)
 
(97,010
)
Net carrying amount
$
69,233

 
$
330,860

 
$
306,057

 
$
68,154

 
$
327,331

 
$
302,990

 
 
 
 
 

 
 
 

 

Equity, net of issuance costs
$
46,474

 
$
69,749

 
$
93,380

 
$
46,474

 
$
69,749

 
$
93,380


The following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands):
 
Month Issued
 
Maturity Date
 
Original Principal (including over-allotment)
 
Coupon Interest Rate
 
Effective Interest Rate
 
Conversion Rate
 
Initial Conversion Price
2023 Notes
May and June 2018
 
June 1, 2023
 
$
230,000

 
0.5
%
 
7.00
%
 
$
22.5572

 
$
44.33

2024 Notes
August 2019
 
August 1, 2024
 
$
400,000

 
0.5
%
 
4.96
%
 
$
5.2809

 
$
189.36

2026 Notes
August 2019
 
August 1, 2026
 
$
400,000

 
1.0
%
 
5.41
%
 
$
5.2809

 
$
189.36
Summary of Interest Expense
The following table sets forth interest expense recognized related to the Notes (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Contractual interest expense
$
1,606

 
$
287

Amortization of debt issuance costs and discount
7,675

 
2,699

Total
$
9,281

 
$
2,986