Convertible Senior Notes, Warrants, and Hedges (Tables)

3 Months Ended

Jul. 01, 2018

Debt Disclosure [Abstract]

Schedule of Convertible Notes

At the debt issuance date, the Convertible Notes, net of issuance costs, consisted of the following:

(in thousands)	November 3, 2015
Liability component
Principal	$	274,435
Less: Issuance cost	(7,568		)
Net carrying amount	266,867
Equity component *
Allocated amount	99,316
Less: Issuance cost	(2,738		)
Net carrying amount	96,578
Convertible Notes, net	$	363,445

* Recorded on the Condensed Consolidated Balance Sheets within additional paid-in capital.

The following table includes total interest expense recognized related to the Convertible Notes during the three months ended July 1, 2018 and July 2, 2017:

	Three Months Ended
(in thousands)	July 1, 2018		July 2, 2017
Contractual interest expense	$	827	$	827
Amortization of debt discount	3,345		3,166
Amortization of debt issuance costs	270		270
	$	4,442	$	4,263

The net liability component of Convertible Notes is comprised of the following as of July 1, 2018:

(in thousands)	July 1, 2018
Net carrying amount as of April 1, 2018	$	299,551
Amortization of debt issuance costs during the period	3,345
Amortization of debt discount during the period	270
Net carrying amount as of July 1, 2018	$	303,166