Debt Obligations

6 Months Ended

Jun. 30, 2013

DEBT OBLIGATIONS

As of June 30, 2013, our current indebtedness included senior notes and the repurchase option related to 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 30, 2013		December 30, 2012
Senior notes due 2015	5.0	%	$	244,040	$	244,022
Senior notes due 2016	6.625	%	216,900		221,523
Option to repurchase ownership interest in headquarters building in 2019			226,372		224,510
Total debt			687,312		690,055
Short-term capital lease obligations⁽¹⁾			115		164
Long-term capital lease obligations			6,846		6,859
Total capital lease obligations			6,961		7,023
Total debt and capital lease obligations			$	694,273	$	697,078

(1) Included in “Accrued expenses and other” in our Condensed Consolidated Balance Sheets.

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

During the second quarter of 2013, we repurchased approximately $5.0 million principal amount of our 6.625% senior unsecured notes due December 15, 2016 (“6.625% Notes”) and recorded a $0.6 million pre-tax charge in connection with the repurchase.

“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 30, 2013			June 24, 2012			June 30, 2013			June 24, 2012
Cash interest expense	$	13,892		$	14,434		$	27,145		$	28,796
Non-cash amortization of discount on debt	1,103			1,098			2,267			2,257
Capitalized interest	—			(7		)	—			(14		)
Interest income	(349		)	(61		)	(692		)	(123		)
Total interest expense, net	$	14,646		$	15,464		$	28,720		$	30,916

- 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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