Debt Obligations

3 Months Ended

Mar. 27, 2016

DEBT OBLIGATIONS

Our current indebtedness includes 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, except percentages)	March 27, 2016		December 27, 2015
Senior notes due in December 2016:
Principal amount	$	189,170	$	189,170
Less unamortized discount based on imputed interest rate of 6.625%	591		793
Total senior notes due in 2016	188,579		188,377
Option to repurchase ownership interest in headquarters building in 2019:
Principal amount	250,000		250,000
Less unamortized discount based on imputed interest rate of 13.0%	12,855		13,905
Total option to repurchase ownership interest in headquarters building in 2019	237,145		236,095
Capital lease obligations	6,762		6,756
Total debt and capital lease obligations	432,486		431,228
Less current portion	188,579		188,377
Total long-term debt and capital lease obligations	$	243,907	$	242,851

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

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



	For the Quarters Ended
(In thousands)	March 27, 2016			March 29, 2015
Interest expense	$	9,922		$	12,169
Amortization of debt costs and discount on debt	1,253			1,215
Capitalized interest	(116		)	(51		)
Interest income	(2,233		)	(1,141		)
Total interest expense, net	$	8,826		$	12,192