Interest Expense

3 Months Ended

Mar. 31, 2018

The following table presents the components of the Company’s interest expense:



	Three Months Ended March 31,
	2018		2017
	(In thousands)
Contractual interest on Subordinated Convertible Debentures	$	14,948	$	10,156
Contractual interest on Senior Notes	21,766		15,235
Amortization of debt discount on Subordinated Convertible Debentures	3,161		2,911
Amortization of debt issuance costs and other interest expense	913		721
Total interest expense	$	40,788	$	29,023

On February 15, 2018, the Company called for the redemption of all of the outstanding Subordinated Convertible Debentures. The debentures will be redeemed on May 1, 2018 at a redemption price equal to 100% of the principal, plus accrued but unpaid interest up to, but not including, the redemption date. The Subordinated Convertible Debentures called for redemption may be converted at any time before the close of business on Monday, April 30, 2018. If holders elect to convert their debentures, the Company will settle the principal value, up to $1.25 billion, in cash, and the remaining value through the issuance of shares of the Company’s stock. In the second quarter of 2018, the Company will recognize any gain or loss upon extinguishment for the difference between the carrying value and the fair value of the liability component of the Subordinated Convertible Debentures on the redemption date.