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Debt (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of liability components of the Convertible Notes
The Convertible Notes and Senior Secured Term Loan consist of the following:
Liability component (in thousands)
2018
 
2017
Principal
$
400,000

 
$
250,000

Less: debt discount (1)
(74,145
)
 
(81,566
)
Less: deferred financing (1)
(4,115
)
 
(4,267
)
Net carrying value of the debt
$
321,740

 
$
164,167

_____________________________________________________________________
(1)
Included in the consolidated balance sheets within convertible notes and senior secured term loan and amortized to interest expense over the remaining life of the Convertible Notes and Senior Secured Term Loan using the effective interest rate method.
Components of total interest expense recognized related to the Convertible Notes
The following table sets forth total interest expense recognized related to the Convertible Notes and Senior Secured Term Loan for the year ended December 31, 2018, respectively:
Components (in thousands)
2018
 
2017
Contractual interest expense
$
11,426

 
$
7,528

Amortization of deferred financing
555

 
470

Amortization of debt discount
10,421

 
9,241

Total
$
22,402

 
$
17,239

Effective interest rate of the liability component, convertible debt
10.85
%
 
10.85
%
Effective interest rate of the liability component, senior secured term loan
10.48
%
 
—
%