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Debt Obligations
 9 Months Ended
Sep. 24, 2017
Debt Disclosure [Abstract]  
Debt Obligations
DEBT OBLIGATIONS
Our 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)
 
September 24, 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%
 
7,423

 
9,801

Total option to repurchase ownership interest in headquarters building in 2019
 
242,577

 
240,199

Capital lease obligations
 
6,798

 
6,779

Total long-term debt and capital lease obligations
 
$
249,375

 
$
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 Nine Months Ended
(In thousands)
 
September 24, 2017

 
September 25, 2016

 
September 24, 2017

 
September 25, 2016

Interest expense
 
$
6,956

 
$
10,022

 
$
20,775

 
$
29,964

Amortization of debt costs and discount on debt
 
801

 
1,226

 
2,379

 
3,670

Capitalized interest
 
(345
)
 
(131
)
 
(852
)
 
(412
)
Interest income
 
(2,752
)
 
(2,085
)
 
(7,184
)
 
(6,267
)
Total interest expense, net
 
$
4,660

 
$
9,032

 
$
15,118

 
$
26,955