Debt and Revolving Credit Facility (Tables)

12 Months Ended

Dec. 26, 2020

Debt Disclosure [Abstract]

Schedule of Debt and Other Obligations

The Company’s total debt as of December 26, 2020 and December 28, 2019 consisted of:

	December 26, 2020		December 28, 2019
	(In millions)
7.50% Senior Notes Due 2022 (7.50% Notes)	$	312	$	312
2.125% Convertible Senior Notes Due 2026 (2.125% Notes)	26		251
Total debt (principal amount)	338		563
Unamortized debt discount for 2.125% Notes	(7)		(73)
Unamortized debt issuance costs for 2.125% Notes	—		(3)
Unamortized debt issuance costs for 7.50% Notes	(1)		(1)
Total long-term debt (net)	$	330	$	486

Convertible Debt

The following table sets forth total interest expense recognized related to the 2.125% Notes for the year ended December 26, 2020:

	December 26, 2020		December 28, 2019
	(In millions)
Contractual interest expense	$	4	$	15
Interest cost related to amortization of debt issuance costs	$	—	$	1
Interest cost related to amortization of the debt discount	$	6	$	22

Schedule of Future Payments on Debt

As of December 26, 2020, the Company’s future debt payment obligations were as follows:

	Term Debt (Principal only)
	(In millions)
2022	$	312
2026	26
Total	$	338