Long-Term Debt (Tables)

3 Months Ended

Apr. 04, 2020

Long-term debt consists of the following:

	April 4, 2020			December 31, 2019

Credit facility	$	54,000		$	-
Convertible senior notes, due 2025		512,745			509,128
Convertible senior debentures, due 2040		127			126
Convertible senior debentures, due 2041		1,050			6,677
Deferred financing costs		(15,826	)		(16,784	)
		552,096			499,147
Less current portion		-			-
	$	552,096		$	499,147

Key Facts and Terms of the Convertible Debt Instruments

The following table summarizes some key facts and terms regarding the outstanding convertible debt instruments as of April 4, 2020:

	Convertible Senior Notes Due 2025			Convertible Senior Debentures Due 2040			Convertible Senior Debentures Due 2041
Issuance date	June 12, 2018			November 9, 2010			May 13, 2011
Maturity date	June 15, 2025			November 15, 2040			May 15, 2041
Principal amount as of April 4, 2020	$	600,000		$	300		$	2,640
Cash coupon rate (per annum)		2.25	%		2.25	%		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		5.50	%		8.00	%		8.375	%
Conversion rate effective March 11, 2020 (per $1 principal amount)		31.8278			80.4668			58.7205
Effective conversion price effective March 11, 2020 (per share)	$	31.42		$	12.43		$	17.03
130% of the conversion price (per share)	$	40.85		$	16.16		$	22.14
Call date		n/a		November 20, 2020			May 20, 2021

Liability and Equity of Component of Convertible Debt Instruments

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

	Principal amount of the debt instruments		Unamortized discount			Carrying value of liability component		Equity component (including temporary equity) -net carrying value
April 4, 2020
Convertible senior notes due 2025	$	600,000		(87,255	)	$	512,745	$	85,262
Convertible senior debentures due 2040 and due 2041	$	2,940		(1,763	)	$	1,177	$	1,216
Total	$	602,940	$	(89,018	)	$	513,922	$	86,478

December 31, 2019
Convertible senior notes due 2025	$	600,000		(90,872	)	$	509,128	$	85,262
Convertible senior debentures due 2040 and due 2041	$	17,190		(10,387	)	$	6,803	$	7,129
Total	$	617,190	$	(101,259	)	$	515,931	$	92,391

Convertible Debt Instruments, Interest Expense

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

	Contractual coupon interest		Non-cash amortization of debt discount		Other non-cash interest expense			Total interest expense related to the debt instruments
April 4, 2020
Convertible senior notes due 2025	$	3,375		3,617		454		$	7,446
Convertible senior debentures	$	44		20		-		$	64
Total	$	3,419	$	3,637	$	454		$	7,510

March 30, 2019
Convertible senior notes due 2025	$	3,375		3,426		454		$	7,255
Convertible senior debentures	$	148		64		(16	)	$	196
Total	$	3,523	$	3,490	$	438		$	7,451