Convertible Senior Notes (Tables)

3 Months Ended

Mar. 27, 2022

Convertible Notes [Abstract]

Convertible senior notes balances

The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated:

(dollars in thousands)	MARCH 27, 2022		DECEMBER 26, 2021
Long-term debt, net
Principal	$	230,000	$	230,000
Less: debt issuance costs (1)	(5,495)		(5,898)
Net carrying amount	$	224,505	$	224,102

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(1)Debt issuance costs are amortized to Interest expense, net using the effective interest method over the 2025 Notes’ expected life.

Convertible senior notes interest expense

Following is a summary of interest expense for the 2025 Notes, by component, for the periods indicated:

	THIRTEEN WEEKS ENDED
(dollars in thousands)	MARCH 27, 2022		MARCH 28, 2021
Coupon interest	$	2,875	$	2,875
Deferred issuance cost amortization	404		381
Total interest expense (1)	$	3,279	$	3,256

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(1)The effective rate of the 2025 Notes over their expected life is 5.85%.