DEBT (Tables)

9 Months Ended

Apr. 30, 2019

Debt Disclosure [Abstract]

Summary of Interest Expense

During both the three and nine months ended April 30, 2019, the Company recognized interest expense associated with the SPHG Note of $0.5 million which includes amortization of debt accretion.

	Three and Nine Months Ended April 30,
	2019
	(In thousands)
Interest expense related to contractual interest coupon	$	193
Interest expense related to accretion of the discount	282
	$	475

The total $65.6 million balance due was paid in full by the Company from available cash on-hand, including the $14.9 million from the proceeds of the 7.50% Convertible Senior Note entered into on February 28, 2019, as described below.

	Three Months Ended April 30,				Nine Months Ended April 30,
	2019		2018		2019		2018
	(In thousands)				(In thousands)
Interest expense related to contractual interest coupon	$	286	$	914	$	1,932	$	2,741
Interest expense related to accretion of the discount	430		1,113		2,741		3,230
Interest expense related to debt issuance costs	38		99		243		286
	$	754	$	2,126	$	4,916	$	6,257

Schedule of Debt

As of April 30, 2019 and July 31, 2018, the current and long-term net carrying value of the Term Loan was $375.7 million and $388.8 million, respectively.

	April 30, 2019			July 31, 2018
	(In thousands)
Principal amount outstanding on the Term Loan	$	376,625		$	390,000
Unamortized debt issuance costs	(958		)	(1,162		)
Net carrying value of the Term Loan	$	375,667		$	388,838

As of April 30, 2019, the net carrying value of the SPHG Note was $7.0 million.

	April 30, 2018
	(In thousands)
Carrying amount of equity component	$	8,200
Principal amount of Note	$	14,940
Unamortized debt discount	(7,918		)
Net carrying amount	$	7,022