Debt and Revolving Credit Facility (Tables)

12 Months Ended

Dec. 25, 2021

Debt Disclosure [Abstract]

Schedule of Debt and Other Obligations

The Company’s total debt as of December 25, 2021 and December 26, 2020 consisted of:

	December 25, 2021		December 26, 2020
	(In millions)
7.50% Senior Notes Due 2022 (7.50% Notes)	$	312	$	312
2.125% Convertible Senior Notes Due 2026 (2.125% Notes)	1		26
Total debt (principal amount)	313		338
Unamortized debt discount and issuance costs	—		(8)
Total debt (net)	313		330
Less: current portion of long-term debt	(312)		—
Total long-term debt, net of current portion	$	1	$	330

Convertible Debt

The following table sets forth total interest expense recognized related to the 2.125% Notes for the year ended December 25, 2021:

	December 25, 2021		December 26, 2020
	(In millions)
Contractual interest expense	$	—	$	4
Interest cost related to amortization of the debt discount	$	—	$	6

Schedule of Future Payments on Debt

As of December 25, 2021, the Company’s future debt payment obligations were as follows:

	Term Debt (Principal only)
Year	(In millions)
2022	$	312
2026	1
Total	$	313