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Debt (Tables)
9 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Components of Debt

The components of debt for the periods indicated were as follows ($000):

 

 

 

March 31,

 

 

June 30,

 

 

 

2019

 

 

2018

 

0.25% convertible senior notes

 

$

345,000

 

 

$

345,000

 

Convertible senior notes unamortized discount attributable to cash conversion option and debt issuance costs including initial purchaser discount

 

 

(47,042

)

 

 

(56,409

)

Term loan, interest at LIBOR, as defined, plus 1.75%

 

 

50,000

 

 

 

65,000

 

Line of credit, interest at LIBOR, as defined, plus 1.75%

 

 

155,000

 

 

 

80,000

 

Credit facility unamortized debt issuance costs

 

 

(852

)

 

 

(1,126

)

Yen denominated line of credit, interest at LIBOR, as defined, plus 1.75%

 

 

2,708

 

 

 

2,714

 

Note payable assumed in IPI acquisition

 

 

3,834

 

 

 

3,834

 

Total debt

 

 

508,648

 

 

 

439,013

 

Current portion of long-term debt

 

 

(23,834

)

 

 

(20,000

)

Long-term debt, less current portion

 

$

484,814

 

 

$

419,013

 

Summary of Total Interest Expense Recognized

The following tables set forth total interest expense recognized related to the Notes for the three and nine months ended March 31, 2019 and 2018:

 

 

 

 

Three Months

Ended March

31, 2019

 

 

Nine Months

Ended  March

31, 2019

 

0.25% contractual coupon

 

 

$

216

 

 

$

656

 

Amortization of debt discount and debt issuance costs including initial purchaser discount

 

 

 

3,112

 

 

 

9,367

 

Interest expense

 

 

$

3,328

 

 

$

10,023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months

Ended March

31, 2018

 

 

Nine Months

Ended  March

31, 2018

 

0.25% contractual coupon

 

 

$

216

 

 

$

513

 

Amortization of debt discount and debt issuance costs including initial purchaser discount

 

 

 

2,974

 

 

 

7,017

 

Interest expense

 

 

$

3,190

 

 

$

7,530

 

Remaining Annual Principal Payments of Credit Obligations

Remaining annual principal payments under the Company’s existing credit obligations from March 31, 2019 were as follows:

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dollar

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term

 

 

Yen Line

 

 

Line of

 

 

Note

 

 

Convertible

 

 

 

 

 

Period

 

Loan

 

 

of Credit

 

 

Credit

 

 

Payable

 

 

Notes

 

 

Total

 

Year 1

 

$

20,000

 

 

$

-

 

 

$

-

 

 

$

3,834

 

 

$

-

 

 

$

23,834

 

Year 2

 

 

20,000

 

 

 

2,708

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

22,708

 

Year 3

 

 

10,000

 

 

 

-

 

 

 

155,000

 

 

 

-

 

 

 

-

 

 

 

165,000

 

Year 4

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

345,000

 

 

 

345,000

 

Year 5

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total

 

$

50,000

 

 

$

2,708

 

 

$

155,000

 

 

$

3,834

 

 

$

345,000

 

 

$

556,542