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Debt Obligations
 6 Months Ended
Jun. 26, 2016
Debt Disclosure [Abstract]  
Debt Obligations
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)
 
June 26, 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%
 
386

 
793

Total senior notes due in 2016
 
188,784

 
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%
 
11,869

 
13,905

Total option to repurchase ownership interest in headquarters building in 2019
 
238,131

 
236,095

Capital lease obligations
 
6,767

 
6,756

Total debt and capital lease obligations
 
433,682

 
431,228

Less current portion
 
188,784

 
188,377

Total long-term debt and capital lease obligations
 
$
244,898

 
$
242,851


See Note 8 for additional 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
 
For the Six Months Ended
(In thousands)
 
June 26, 2016

 
June 28, 2015

 
June 26, 2016

 
June 28, 2015

Interest expense
 
$
10,020

 
$
9,920

 
$
19,942

 
$
22,089

Amortization of debt costs and discount on debt
 
1,191

 
1,145

 
2,444

 
2,360

Capitalized interest
 
(165
)
 
(106
)
 
(281
)
 
(157
)
Interest income
 
(1,949
)
 
(1,183
)
 
(4,182
)
 
(2,324
)
Total interest expense, net
 
$
9,097

 
$
9,776

 
$
17,923

 
$
21,968