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Long-Term Debt Obligations (Tables) | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Summary of Debt | The following is a summary of our debt as of June 30, 2019 (in thousands):
|  | Unpaid |  |  |  |  |  | Unused |  |  |  |  |  |  |
|  | Principal |  |  | Net Carrying Value |  |  | Committed |  |  | Contractual |  |  | Contractual
|  | Balance |  |  | Current |  |  | Long-Term |  |  | Amount (1) |  |  | Interest Rates |  |  | Maturity Date
Recourse debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1.25% Convertible Senior Notes due in 2021 ("2021 Notes") |  |  | 1,380,000 |  |  |  | — |  |  |  | 1,273,206 |  |  |  | — |  |  |  | 1.25 | % |  | March 2021
2.375% Convertible Senior Notes due in 2022 ("2022 Notes") |  |  | 977,500 |  |  |  | — |  |  |  | 886,513 |  |  |  | — |  |  |  | 2.375 | % |  | March 2022
2.00% Convertible Senior Notes due in 2024 ("2024 Notes") |  |  | 1,840,000 |  |  |  | — |  |  |  | 1,340,143 |  |  |  | — |  |  |  | 2.00 | % |  | May 2024
5.30% Senior Notes due in 2025 ("2025 Notes") |  |  | 1,800,000 |  |  |  | — |  |  |  | 1,780,345 |  |  |  | — |  |  |  | 5.30 | % |  | August 2025
Credit Agreement |  |  | 1,740,000 |  |  |  | 141,711 |  |  |  | 1,598,289 |  |  |  | 504,993 |  |  | 3.4% -5.5% |  |  | June 2020-July 2023
1.625% Convertible Senior Notes due in 2019 |  |  | 565,992 |  |  |  | 556,575 |  |  |  | — |  |  |  | — |  |  |  | 1.625 | % |  | November 2019
Zero-Coupon Convertible Senior Notes due in 2020 |  |  | 103,000 |  |  |  | — |  |  |  | 94,559 |  |  |  | — |  |  |  | 0.0 | % |  | December 2020
Vehicle, Solar Bonds and other Loans |  |  | 144,668 |  |  |  | 14,712 |  |  |  | 126,948 |  |  |  | 1,000 |  |  | 1.8%-6.8% |  |  | September 2019-January 2031
Total recourse debt |  |  | 8,551,160 |  |  |  | 712,998 |  |  |  | 7,100,003 |  |  |  | 505,993 |  |  |  |  |  |  |
Non-recourse debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warehouse Agreements |  |  | 321,650 |  |  |  | 45,452 |  |  |  | 276,198 |  |  |  | 778,350 |  |  | 3.8%-4.1% |  |  | September 2020
Canada Credit Facility |  |  | 56,639 |  |  |  | 28,878 |  |  |  | 27,761 |  |  |  | — |  |  | 3.6%-5.9% |  |  | November 2022
Term Loan due in 2019 |  |  | 161,944 |  |  |  | 161,944 |  |  |  | — |  |  |  | — |  |  |  | 5.9 | % |  | December 2019
Term Loan due in 2021 |  |  | 166,152 |  |  |  | 7,284 |  |  |  | 158,313 |  |  |  | — |  |  |  | 6.1 | % |  | January 2021
Solar Revolving Credit Facility |  |  | 41,908 |  |  |  | — |  |  |  | 41,908 |  |  |  | — |  |  |  | 6.0 | % |  | June 2022
China Loan Agreement |  |  | 27,478 |  |  |  | 27,478 |  |  |  | — |  |  |  | 482,122 |  |  |  | 3.9 | % |  | March 2020
Cash equity debt |  |  | 461,926 |  |  |  | 9,401 |  |  |  | 438,534 |  |  |  | — |  |  | 5.3%-5.8% |  |  | July 2033-January 2035
Solar asset-backed notes |  |  | 1,198,962 |  |  |  | 33,640 |  |  |  | 1,135,790 |  |  |  | — |  |  | 4.0%-7.7% |  |  | September 2024-February 2048
Solar loan-backed notes |  |  | 196,924 |  |  |  | 10,671 |  |  |  | 179,285 |  |  |  | — |  |  | 4.8%-7.5% |  |  | September 2048-September 2049
Automotive asset-backed notes |  |  | 949,951 |  |  |  | 400,665 |  |  |  | 544,949 |  |  |  | — |  |  | 2.3%-7.9% |  |  | December 2019-June 2022
Solar Renewable Energy Credit and other Loans |  |  | 24,995 |  |  |  | 21,417 |  |  |  | 3,106 |  |  |  | 27,201 |  |  | 4.4%-8.2% |  |  | September 2019-July 2021
Total non-recourse debt |  |  | 3,608,529 |  |  |  | 746,830 |  |  |  | 2,805,844 |  |  |  | 1,287,673 |  |  |  |  |  |  |
Total debt |  | $ | 12,159,689 |  |  | $ | 1,459,828 |  |  | $ | 9,905,847 |  |  | $ | 1,793,666 |  |  |  |  |  |  |
The following is a summary of our debt as of December 31, 2018 (in thousands):
|  | Unpaid |  |  |  |  |  | Unused |  |  |  |  |  |  |
|  | Principal |  |  | Net Carrying Value |  |  | Committed |  |  | Contractual |  |  | Contractual
|  | Balance |  |  | Current |  |  | Long-Term |  |  | Amount (1) |  |  | Interest Rates |  |  | Maturity Date
Recourse debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
0.25% Convertible Senior Notes due in 2019 ("2019 Notes") |  |  | 920,000 |  |  |  | 912,625 |  |  |  | — |  |  |  | — |  |  |  | 0.25 | % |  | March 2019
2021 Notes |  |  | 1,380,000 |  |  |  | — |  |  |  | 1,243,496 |  |  |  | — |  |  |  | 1.25 | % |  | March 2021
2022 Notes |  |  | 977,500 |  |  |  | — |  |  |  | 871,326 |  |  |  | — |  |  |  | 2.375 | % |  | March 2022
2025 Notes |  |  | 1,800,000 |  |  |  | — |  |  |  | 1,778,756 |  |  |  | — |  |  |  | 5.30 | % |  | August 2025
Credit Agreement |  |  | 1,540,000 |  |  |  | — |  |  |  | 1,540,000 |  |  |  | 230,999 |  |  | 1% plus LIBOR |  |  | June 2020
1.625% Convertible Senior Notes due in 2019 |  |  | 565,992 |  |  |  | 541,070 |  |  |  | — |  |  |  | — |  |  |  | 1.625 | % |  | November 2019
Zero-Coupon Convertible Senior Notes due in 2020 |  |  | 103,000 |  |  |  | — |  |  |  | 91,799 |  |  |  | — |  |  |  | 0.0 | % |  | December 2020
Vehicle, Solar Bonds and other Loans |  |  | 100,928 |  |  |  | 1,322 |  |  |  | 100,190 |  |  |  | — |  |  | 1.8%-7.6% |  |  | January 2019-January 2031
Total recourse debt |  |  | 7,387,420 |  |  |  | 1,455,017 |  |  |  | 5,625,567 |  |  |  | 230,999 |  |  |  |  |  |  |
Non-recourse debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warehouse Agreements |  |  | 92,000 |  |  |  | 13,604 |  |  |  | 78,396 |  |  |  | 1,008,000 |  |  | 3.9%-4.2% |  |  | September 2020
Canada Credit Facility |  |  | 73,220 |  |  |  | 31,766 |  |  |  | 41,454 |  |  |  | — |  |  | 3.6%-5.9% |  |  | November 2022
Term Loan due in 2019 |  |  | 180,624 |  |  |  | 180,624 |  |  |  | — |  |  |  | — |  |  |  | 6.1 | % |  | January 2019
Term Loan due in 2021 |  |  | 169,050 |  |  |  | 6,876 |  |  |  | 161,453 |  |  |  | — |  |  |  | 6.0 | % |  | January 2021
Cash equity debt |  |  | 466,837 |  |  |  | 10,911 |  |  |  | 441,472 |  |  |  | — |  |  | 5.3%-5.8% |  |  | July 2033-January 2035
Solar asset-backed notes |  |  | 1,214,071 |  |  |  | 28,761 |  |  |  | 1,154,914 |  |  |  | — |  |  | 4.0%-7.7% |  |  | September 2024-February 2048
Solar loan-backed notes |  |  | 210,249 |  |  |  | 9,888 |  |  |  | 193,164 |  |  |  | — |  |  | 4.8%-7.5% |  |  | September 2048-September 2049
Automotive asset-backed notes |  |  | 1,177,937 |  |  |  | 467,926 |  |  |  | 704,234 |  |  |  | — |  |  | 2.3%-7.9% |  |  | December 2019-June 2022
Solar Renewable Energy Credit and other Loans |  |  | 26,742 |  |  |  | 16,612 |  |  |  | 9,836 |  |  |  | 17,633 |  |  | 5.1%-7.9% |  |  | December 2019-July 2021
Total non-recourse debt |  |  | 3,610,730 |  |  |  | 766,968 |  |  |  | 2,784,923 |  |  |  | 1,025,633 |  |  |  |  |  |  |
Total debt |  | $ | 10,998,150 |  |  | $ | 2,221,985 |  |  | $ | 8,410,490 |  |  | $ | 1,256,632 |  |  |  |  |  |  |
(1) | Unused committed amounts under some of our credit facilities and financing funds are subject to satisfying specified conditions prior to draw-down (such as pledging to our lenders sufficient amounts of qualified receivables, inventories, leased vehicles and our interests in those leases, solar energy systems and the associated customer contracts, our interests in financing funds or various other assets). Upon draw-down of any unused committed amounts, there are no restrictions on use of available funds for general corporate purposes.
Schedule of Interest Expense | The following table presents the interest expense related to the contractual interest coupon, the amortization of debt issuance costs and the amortization of debt discounts on our convertible senior notes with cash conversion features, which include the 2018 Notes, the 2019 Notes, the 2021 Notes, the 2022 Notes and the 2024 Notes (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Contractual interest coupon |  | $ | 15,533 |  |  | $ | 10,588 |  |  | $ | 25,892 |  |  | $ | 21,136 |
Amortization of debt issuance costs |  |  | 1,470 |  |  |  | 1,642 |  |  |  | 2,940 |  |  |  | 3,257 |
Amortization of debt discounts |  |  | 33,467 |  |  |  | 30,525 |  |  |  | 61,541 |  |  |  | 60,384 |
Total |  | $ | 50,470 |  |  | $ | 42,755 |  |  | $ | 90,373 |  |  | $ | 84,777 |

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