Long-Term Debt (Tables)

9 Months Ended

Sep. 27, 2014

Long-term debt consists of the following:

	September 27, 2014		December 31, 2013

Credit facility	$	187,000	$	114,000
Exchangeable unsecured notes, due 2102		38,642		38,642
Convertible senior debentures, due 2040		103,364		101,846
Convertible senior debentures, due 2041		52,966		52,264
Convertible senior debentures, due 2042		58,908		58,159
		440,880		364,911
Less current portion		-		-
	$	440,880	$	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 September 18, 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 August 26, 2014 (per $1 principal amount)		72.8961			53.1957			85.7084
Effective conversion price effective August 26, 2014 (per share)	$	13.72		$	18.80		$	11.67
130% of the conversion price (per share)	$	17.84		$	24.44		$	15.17
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 (including temporary equity) - net carrying value
September 27, 2014
Due 2040	$	275,000		(172,189	)		553	$	103,364	$	110,094
Due 2041	$	150,000		(97,348	)		314	$	52,966	$	62,246
Due 2042	$	150,000		(91,301	)		209	$	58,908	$	57,874
Total	$	575,000	$	(360,838	)	$	1,076	$	215,238	$	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
September 27, 2014
Due 2040	$	1,547		495		22		93		$	2,157
Due 2041	$	844		251		11		(29	)	$	1,077
Due 2042	$	844		251		13		13		$	1,121
Total	$	3,235	$	997	$	46	$	77		$	4,355

September 28, 2013
Due 2040	$	1,547		458		22		(30	)	$	1,997
Due 2041	$	844		231		11		(13	)	$	1,073
Due 2042	$	844		233		13		3		$	1,093
Total	$	3,235	$	922	$	46	$	(40	)	$	4,163

Interest expense related to the debentures is reflected on the consolidated condensed statements of operations for the nine fiscal months 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
September 27, 2014
Due 2040	$	4,641		1,456		66		62		$	6,225
Due 2041	$	2,532		737		35		(35	)	$	3,269
Due 2042	$	2,532		737		40		12		$	3,321
Total	$	9,705	$	2,930	$	141	$	39		$	12,815

September 28, 2013
Due 2040	$	4,641		1,346		66		(193	)	$	5,860
Due 2041	$	2,532		679		35		(100	)	$	3,146
Due 2042	$	2,532		684		40		(73	)	$	3,183
Total	$	9,705	$	2,709	$	141	$	(366	)	$	12,189