LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS

Long-Term Debt

Long-term debt consists of the following:



	March 30, 2013			December 29, 2012
2.25% Senior convertible debentures:
Principal	$	349,995		$	349,995
Unamortized debt discount	(2,897		)	(6,726		)
Net carrying amount of senior convertible debentures	347,098			343,269
Term loan facilities	269,775			290,947
Revolving credit facility	31,000			32,000
Other long-term debt	305			232
Total debt	648,178			666,448
Less: current portion of long-term debt	(130,664		)	(139,373		)
Long-term debt	$	517,514		$	527,075

Our credit agreement dated September 23, 2011 provides for a $299,750 term loan, a €69,414 Euro term loan and a $350,000 revolving credit facility. The term loan facility matures in 20 quarterly installments with the last installment due September 23, 2016. The $350,000 revolving facility also matures on September 23, 2016 and requires no scheduled payment before that date. The book value of our term and revolving loans approximates fair value.

The credit agreement includes certain customary representations and warranties, events of default, notices of material adverse changes to our business and negative and affirmative covenants. As of March 30, 2013, we were compliant with all financial covenants specified in the credit agreement. We had $5,030 outstanding under letters of credit as of March 30, 2013.

Our 350,000 of 2.25% Senior Convertible Debentures (the 2013 Notes) are due in June 2013 with interest payable semi-annually and are convertible into cash for the principal amount and shares of our common stock for the conversion premium (or, at our election, cash in lieu of some or all of such common stock), if any, based on an initial conversion rate, subject to adjustment, of 20.4337 shares of our common stock per 1,000 principal amount of notes (which represents an initial conversion price of $48.94 per share). The 2013 Notes are convertible only in the following circumstances and to the following extent:

(1) during any fiscal quarter beginning after July 1, 2006 (and only during such fiscal quarter), if the last reported sale price of our common stock for at least 20 trading days in the period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is more than 130% of the conversion price on the last day of such preceding fiscal quarter;

(2) during the five business-day period after any five consecutive trading-day period, or the measurement period, in which the trading price per note for each day of that measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such day;

(3) upon the occurrence of specified corporate transactions, as described in the indenture for the 2013 Notes; and

(4) at the option of the holder at any time beginning on the date that is two months prior to the stated maturity date and ending on the close of business on the second trading-day immediately preceding the maturity date.

Upon conversion, we will pay cash and shares of our common stock (or, at our election, cash in lieu of some or all of such common stock), if any. If we undergo a fundamental change as described in the indenture for the 2013 Notes, holders will have the option to require us to purchase all or any portion of their notes for cash at a price equal to 100% of the principal amount of the notes to be purchased plus any accrued and unpaid interest, including any additional interest to, but excluding, the purchase date. As of March 30, 2012, no conversion triggers were met.

As of March 30, 2013, our debt included $349,995 of 2.25% Senior Convertible Debentures (2013 Notes) due June 2013. At March 30, 2013, the fair value of these outstanding 2013 Notes was approximately $353,145 based on their quoted market value. The long term portion of the 2013 Notes is $244,995, which is based upon our expected capacity on our existing credit facility available to settle the 2013 Notes. Upon maturity, we expect to settle the 2013 Notes utilizing the expected capacity on our existing credit facility, our existing cash and marketable securities and other financing alternatives.

As of March 30, 2013, $2,897 of debt discount related to the 2013 Notes remained and will be amortized over one final quarter. Interest expense related to our convertible debt of $3,830 and $3,514 for quarters ending March 30, 2013 and March 31, 2012 respectively, yielded an effective interest rate of 6.93% on the liability component. In addition, $1,969 and $1,969 of contractual interest expense was recognized on our convertible debt during the quarters ended March 30, 2013 and March 31, 2012, respectively.

Principal maturities of existing debt, which excludes unamortized discount, for the periods set forth in the table below are as follows:



Twelve Months Ending
March 2014	$	131,534
March 2015	48,709
March 2016	59,950
March 2017	410,882
March 2018	—
Total	$	651,075

We have capital leases for equipment. These leases are capitalized using interest rates considered appropriate at the inception of the lease. Capital lease obligations amounted to $707 and $72 at March 30, 2013 and December 29, 2012, respectively.