XML 62 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Convertible Notes
 6 Months Ended
Jun. 30, 2014
Debt Disclosure [Abstract]  
Convertible Notes
Convertible Notes
The Company’s convertible notes are shown in the following table:
(In thousands)
 
As of June 30, 2014
 
As of December 31, 2013
1.125% Convertible Senior Notes due 2018
 
$
138,000

 
$
138,000

5% Convertible Senior Notes due 2014
 
—

 
172,500

Total principal amount of convertible notes
 
$
138,000

 
$
310,500

 
 
 
 
 
Unamortized discount - 2018 Notes
 
$
(25,684
)
 
$
(28,371
)
Unamortized discount - 2014 Notes
 
—

 
(8,453
)
Total unamortized discount
 
$
(25,684
)
 
$
(36,824
)
 
 
 
 
 
Total convertible notes
 
$
112,316

 
$
273,676

Less current portion
 
—

 
164,047

Total long-term convertible notes
 
$
112,316

 
$
109,629


During the second quarter of 2014, the Company paid upon maturity the entire $172.5 million in aggregate principal amount of the 2014 Notes.

Interest expense related to the notes for the three and six months ended June 30, 2014 and 2013 was as follows:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2014
 
2013
 
2014
 
2013
 
(In thousands)
2014 Notes coupon interest at a rate of 5%
$
1,773

 
$
2,156

 
$
3,929

 
$
4,313

2014 Notes amortization of discount and debt issuance costs at an additional effective interest rate of 11.7%
3,975

 
4,145

 
8,744

 
8,234

2018 Notes coupon interest at a rate of 1.125%
388

 
—

 
776

 
—

2018 Notes amortization of discount and debt issuance costs at an additional effective interest rate of 5.5%
1,494

 
—

 
2,967

 
—

Total interest expense on convertible notes
$
7,630

 
$
6,301

 
$
16,416

 
$
12,547