Debt Obligations

6 Months Ended

Jun. 24, 2012

DEBT OBLIGATIONS

As of June 24, 2012, our current indebtedness included senior notes and a sale-leaseback of a portion of our New York headquarters. Our total debt and capital lease obligations consisted of the following:



(In thousands)	Coupon Rate		June 24, 2012		December 25, 2011
Senior notes due 2012	4.610	%	$	74,968	$	74,900
Senior notes due 2015	5.0	%	249,907		249,891
Senior notes due 2016	6.625	%	221,147		220,787
Option to repurchase ownership interest in headquarters building in 2019			222,674		220,861
Total debt			768,696		766,439
Capital lease obligations			7,119		6,681
Total debt and capital lease obligations			$	775,815	$	773,120

See Note 9 for information regarding the fair value of our long-term debt.

As of June 24, 2012, there were $0 outstanding borrowings under our $125.0 million asset-backed 5-year revolving credit facility.

Interest Expense, Net

“Interest expense, net” in our Condensed Consolidated Statements of Operations was as follows:



	For the Quarters Ended						For the Six Months Ended
(In thousands)	June 24, 2012			June 26, 2011			June 24, 2012			June 26, 2011
Cash interest expense	$	14,434		$	23,215		$	28,796		$	46,168
Non-cash amortization of discount on debt	1,098			2,085			2,257			4,187
Capitalized interest	(7		)	(27		)	(14		)	(332		)
Interest income	(61		)	(121		)	(123		)	(280		)
Total interest expense, net	$	15,464		$	25,152		$	30,916		$	49,743

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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