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Debt Obligations
 6 Months Ended
Jun. 25, 2017
Debt Disclosure [Abstract]  
Debt Obligations
DEBT OBLIGATIONS
Our current indebtedness consisted of 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)
 
June 25, 2017

 
December 25, 2016

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%
 
8,224

 
9,801

Total option to repurchase ownership interest in headquarters building in 2019
 
241,776

 
240,199

Capital lease obligations
 
6,792

 
6,779

Total long-term debt and capital lease obligations
 
$
248,568

 
$
246,978


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 25, 2017

 
June 26, 2016

 
June 25, 2017

 
June 26, 2016

Interest expense
 
$
6,955

 
$
10,020

 
$
13,819

 
$
19,942

Amortization of debt costs and discount on debt
 
778

 
1,191

 
1,578

 
2,444

Capitalized interest
 
(287
)
 
(165
)
 
(507
)
 
(281
)
Interest income
 
(2,313
)
 
(1,949
)
 
(4,432
)
 
(4,182
)
Total interest expense, net
 
$
5,133

 
$
9,097

 
$
10,458

 
$
17,923