• Filing Date: 2019-03-08
  • Form Type: 10-K
  • Description: Annual report
v3.10.0.1
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Summary of Long-term Debt
The following table summarizes the Company’s long-term debt:

 
 
 
December 31,
 
 
 
2018
 
 
2017
 
3.875% Convertible Senior Notes, due March 15, 2019
 
$
89,990
 
 
$
89,990
 
4.25% Convertible Senior Notes, due March 1, 2037
 
 
143,750
 
 
 
143,750
 
3.95% Promissory note, due through February 17, 2020
 
 
9,125
 
 
 
9,360
 
4% Promissory note, due through February 1, 2031
 
 
7,857
 
 
 
8,348
 
3.75% Promissory note, due through September 1, 2036
 
 
8,290
 
 
 
8,613
 
4.55% Promissory note, due through August 1, 2036
 
 
5,928
 
 
 
 
Capital lease obligation, due through August 15, 2023
 
 
55
 
 
 
 
Total principal amount
 
 
264,995
 
 
 
260,061
 
Less: unamortized discount and issuance costs
 
 
(14,845
)
 
 
(22,226
)
Total long-term debt
 
$
250,150
 
 
$
237,835
 
Summary of Future Maturities of Long-Term Debt
The following table summarizes future maturities of long-term debt as of December 31, 2018, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date.

 
Year
 
 
 
2019
 
$
91,316
 
2020
 
 
10,007
 
2021
 
 
1,172
 
2022
 
 
144,970
 
2023
 
 
1,267
 
Thereafter
 
 
16,263
 
Total
 
$
264,995
 
Schedule of Interest Expense Related to Long-Term Debt
Information with respect to interest expense related to long-term debt is as follows:

 
 
 
Years Ended December 31,
 
 
 
2018
 
 
2017
 
 
2016
 
Interest Expense:
 
 
 
 
 
 
 
 
 
 
 
 
Contractual interest
 
$
10,740
 
 
$
10,424
 
 
$
7,315
 
Non-cash expense (a)
 
 
7,487
 
 
 
6,404
 
 
 
3,529
 
Capitalized interest (b)
 
 
(131
)
 
 
(61
)
 
 
 
Total
 
$
18,096
 
 
$
16,767
 
 
$
10,844
 
 
(a)
Represents amortization of debt discount and issuance costs.
(b)
Interest was capitalized for construction projects.
Summary of Principal and Interest Payment Terms of Convertible Senior Notes The following table
summarizes
the principal and interest payment terms of these Convertible Senior Notes:
 
 
 
Convertible Senior Notes
  
Interest Payment Terms
3.875% Convertible Notes, due March 15, 2019
  
Semiannually in arrears: March 15 and September 15
4.25% Convertible Notes, due March 1, 2037
  
Semiannually in arrears: March 1 and September 1
Summary of Equity and Liability Components of the Convertible Senior Notes
The following table summarizes information regarding the equity and liability components of the Convertible Senior Notes:
 
 
 
December 31,
 
 
 
2018
 
 
2017
 
Principal amount
 
$
233,740
 
 
$
233,740
 
Unamortized discount
 
 
(11,316
)
 
 
(17,354
)
Liability component – net carrying value before issuance costs
 
$
222,424
 
 
$
216,386
 
Equity component – conversion, net of offering costs
 
$
31,051
 
 
$
31,051