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CONVERTIBLE SENIOR NOTES | 3 Months Ended
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Mar. 31, 2014
CONVERTIBLE SENIOR NOTES |
CONVERTIBLE SENIOR NOTES | 10 — CONVERTIBLE SENIOR NOTES The Company issued $125,000 of the 2010 Notes on July 27, 2010. The Indenture for the 2010 Notes includes customary agreements and covenants by the Company, including with respect to events of default. The following tables provide additional information about the Company’s 2010 Notes:
|  | March 31, 2014 |  | December 31, 2013 |
Carrying amount of the equity component (additional paid-in capital) |  | $ | 24,375 |  | $ | 24,375 |
Principal amount of the 2010 Notes |  | 125,000 |  | 125,000 |
Unamortized discount of the liability component |  | 7,820 |  | 9,119 |
Net carrying amount of the liability component |  | 117,180 |  | 115,881 |
|  | Three Months Ended March 31, |
|  | 2014 |  | 2013 |
Effective interest rate on liability component |  | 10.0 | % | 10.0 | %
Cash interest expense recognized |  | $ | 1,541 |  | $ | 1,541 |
Non-cash interest expense recognized |  | 1,299 |  | 1,179 |
Non-cash deferred financing amortization costs included in interest expense |  | 177 |  | 177 |
The remaining period over which the unamortized discount will be recognized is 1.38 years. As of March 31, 2014, the if-converted value of the 2010 Notes does not exceed their principal amount. Refer to Note 1 — General Information for additional information regarding defaults relating to the 2010 Notes. As such, in accordance with applicable accounting guidance, the liability related to the 2010 Notes was classified as a current liability in the consolidated balance sheet as of March 31, 2014 and December 31, 2013.

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