Debt Obligations

9 Months Ended

Sep. 29, 2013

DEBT OBLIGATIONS

As of September 29, 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		September 29, 2013		December 30, 2012
Senior notes due 2015	5.0	%	$	244,048	$	244,022
Senior notes due 2016	6.625	%	204,924		221,523
Option to repurchase ownership interest in headquarters building in 2019			227,300		224,510
Total debt			676,272		690,055
Short-term capital lease obligations⁽¹⁾			47		123
Long-term capital lease obligations			6,711		6,697
Total capital lease obligations			6,758		6,820
Total debt and capital lease obligations			$	683,030	$	696,875

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

See Note 8 for information regarding the fair value of our long-term debt.

During the third quarter of 2013, we repurchased $12.4 million principal amount of our 6.625% senior unsecured notes due December 15, 2016 (“6.625% Notes”) and recorded a $1.5 million pre-tax charge in connection with the repurchase. During the first nine months of 2013, we repurchased $17.4 million principal amount of our 6.625% Notes and recorded a $2.1 million pre-tax charge in connection with the repurchases.

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



	For the Quarters Ended						For the Nine Months Ended
(In thousands)	September 29, 2013			September 23, 2012			September 29, 2013			September 23, 2012
Cash interest expense	$	14,494		$	14,453		$	41,635		$	43,249
Non-cash amortization of discount on debt	1,355			1,129			3,622			3,386
Capitalized interest	—			—			—			(14		)
Interest income	(395		)	(92		)	(1,088		)	(215		)
Total interest expense, net	$	15,454		$	15,490		$	44,169		$	46,406

- 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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