Credit Facility and Long-Term Debt (Tables)

3 Months Ended

Mar. 27, 2015

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The carrying values and associated effective interest rates for our Long-term debt were as follows:

(In thousands, except rates)	Effective Interest Rate	March 27, 2015		December 31, 2014
2013 Senior Notes due November 15, 2018 at 2.50%	2.71%	$	597,717	$	597,557
2013 Senior Notes due November 15, 2023 at 4.10%	4.29%	395,684		395,559
2012 Senior Notes due May 15, 2017 at 1.75%	1.94%	499,681		499,643
Total long-term debt		$	1,493,082	$	1,492,759

Schedule of Carrying Values of Debt Instruments

The carrying values of the Notes are reflected in our consolidated balance sheets as follows:

	2.50% Notes						4.10% Notes						1.75% Notes
(In thousands)	March 27, 2015			December 31, 2014			March 27, 2015			December 31, 2014			March 27, 2015			December 31, 2014
Principal amount	$	600,000		$	600,000		$	400,000		$	400,000		$	500,000		$	500,000
Unamortized discount	(2,283		)	(2,443		)	(4,316		)	(4,441		)	(319		)	(357		)
Net carrying value	$	597,717		$	597,557		$	395,684		$	395,559		$	499,681		$	499,643

Schedule of Interest Costs, Debt

Interest expense related to the Notes was included in Interest expense in the consolidated statements of comprehensive income as follows:

	Three Months Ended
(In thousands)	March 27, 2015		March 28, 2014
Contractual coupon interest	$	9,538	$	9,652
Amortization of debt issuance costs	456		456
Amortization of debt discount	323		323
Total interest expense related to the Notes	$	10,317	$	10,431

Schedule of Maturities of Long-term Debt

As of March 27, 2015, future principal payments for the Notes were as follows:

Fiscal Year	Payable
	(In thousands)
2015 (remaining nine months)	$	—
2016	—
2017	500,000
2018	600,000
2019	—
2020 and after	400,000
Total	$	1,500,000

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The estimated fair value of the Notes is as follows:

	2.50% Notes				4.10% Notes				1.75% Notes
(In thousands)	March 27, 2015		December 31, 2014		March 27, 2015		December 31, 2014		March 27, 2015		December 31, 2014
Estimated fair value	$	613,746	$	606,564	$	427,112	$	417,480	$	503,655	$	501,460