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Other
 6 Months Ended
Jun. 26, 2022
Other Income and Expenses [Abstract]  
Other OTHER
Capitalized Computer Software Costs
Amortization of capitalized computer software costs included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $1.9 million and $2.4 million for the second quarters of 2022 and 2021, respectively, and $3.9 million and $5.0 million for the first six months of 2022 and 2021, respectively.
Interest income and other, net
Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
For the Quarters EndedFor the Six Months Ended
(In thousands)June 26, 2022June 27, 2021June 26, 2022June 27, 2021
Interest income and other expense, net$1,535 $2,053 $2,757 $3,743 
Gain on the sale of land (1)
34,227 — 34,227 — 
Interest expense(158)(180)(305)(359)
Total interest income and other, net$35,604 $1,873 $36,679 $3,384 
(1) On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of land at our printing and distribution facility in College Point, N.Y., subject to certain conditions. The lease commenced on April 11, 2022. At the time of the lease expiration in February 2025, we will sell the parcel to the lessee for approximately $36 million. The transaction is accounted for as a sales-type lease and as a result, we recognized a gain of approximately $34 million (net of commissions) at the time of lease commencement.
Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of June 26, 2022, and December 26, 2021, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)June 26, 2022December 26, 2021
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$161,342 $319,973 
Restricted cash included within miscellaneous assets14,396 14,333 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$175,738 $334,306 
Substantially all of the amount included in restricted cash is set aside to collateralize workers’ compensation obligations.
Revolving Credit Facility
In September 2019, the Company entered into a $250.0 million five-year unsecured revolving credit facility (the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee at an annual rate of 0.20%.
As of June 26, 2022, there were no outstanding borrowings under the Credit Facility and the Company was in compliance with the financial covenants contained in the documents governing the Credit Facility.
On July 27, 2022, the Company entered into an amendment and restatement of the Credit Facility that, among other changes, increased the committed amount to $350.0 million and extended the maturity date to July 27, 2027. See Note 15 for more information.
Severance Costs
We recognized $2.7 million in severance costs largely related to our commercial printing operations in the second quarter and first six months of 2022. We recognized no severance costs in the second quarter of 2021 and $0.4 million in severance costs in the first six months of 2021. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations.
We had a severance liability of $4.3 million and $2.1 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of June 26, 2022, and December 26, 2021, respectively.
Acquisition-Related Costs
The Company incurred $34.7 million of acquisition-related costs for the six months ended June 26, 2022. Acquisition-related costs primarily include expenses paid in connection with the acceleration of The Athletic stock options, and legal, accounting, financial advisory and integration planning expenses.