Long-Term Debt (Tables)

3 Months Ended

Mar. 29, 2014

Long-term debt consists of the following:

	March 29, 2014		December 31, 2013

Credit facility	$	110,000	$	114,000
Exchangeable unsecured notes, due 2102		38,642		38,642
Convertible senior debentures, due 2040		102,367		101,846
Convertible senior debentures, due 2041		52,519		52,264
Convertible senior debentures, due 2042		58,420		58,159
		361,948		364,911
Less current portion		-		-
	$	361,948	$	364,911

Key terms of the convertible debentures

The following table summarizes some key facts and terms regarding the three series of outstanding convertible senior debentures following the adjustment made to the conversion rate of the debentures on the ex-dividend date of the March 27, 2014 dividend payment:

	Due 2040			Due 2041			Due 2042
Issuance date	November 9, 2010			May 13, 2011			May 31, 2012
Maturity date	November 15, 2040			May 15, 2041			June 1, 2042
Principal amount	$	275,000		$	150,000		$	150,000
Cash coupon rate (per annum)		2.25	%		2.25	%		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		8.00	%		8.375	%		7.50	%
Conversion rate effective February 27, 2014 (per $1 principal amount)		72.3396			52.7896			85.0541
Effective conversion price effective February 27, 2014 (per share)	$	13.82		$	18.94		$	11.76
130% of the conversion price (per share)	$	17.97		$	24.62		$	15.29
Call date	November 20, 2020			May 20, 2021			June 7, 2022

Liability and equity of component of convertible senior debentures

The carrying values of the liability and equity components of the convertible debentures are reflected in the Company's consolidated condensed balance sheets as follows:

	Principal amount of the debentures		Unamortized discount			Embedded derivative		Carrying value of liability component		Equity component - net carrying value
March 29, 2014
Due 2040	$	275,000		(173,169	)		536	$	102,367	$	110,094
Due 2041	$	150,000		(97,844	)		363	$	52,519	$	62,246
Due 2042	$	150,000		(91,797	)		217	$	58,420	$	57,874
Total	$	575,000	$	(362,810	)	$	1,116	$	213,306	$	230,214

December 31, 2013
Due 2040	$	275,000		(173,645	)		491	$	101,846	$	110,094
Due 2041	$	150,000		(98,085	)		349	$	52,264	$	62,246
Due 2042	$	150,000		(92,038	)		197	$	58,159	$	57,874
Total	$	575,000	$	(363,768	)	$	1,037	$	212,269	$	230,214

Convertible debentures, interest expense

Interest expense related to the debentures is reflected on the consolidated condensed statements of operations for the fiscal quarters ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debentures
March 29, 2014
Due 2040	$	1,547		476		22		45		$	2,090
Due 2041	$	844		241		11		14		$	1,110
Due 2042	$	844		241		13		20		$	1,118
Total	$	3,235	$	958	$	46	$	79		$	4,318

March 30, 2013
Due 2040	$	1,547		440		22		(147	)	$	1,862
Due 2041	$	844		222		12		(88	)	$	990
Due 2042	$	844		224		13		(73	)	$	1,008
Total	$	3,235	$	886	$	47	$	(308	)	$	3,860