Debt (Tables)

6 Months Ended

Jul. 04, 2015

Debt Disclosure [Abstract]

Summary of debt outstanding

Cadence’s outstanding debt as of July 4, 2015 and January 3, 2015 was as follows:

	July 4, 2015							January 3, 2015
	(In thousands)
	Principal		Unamortized Discount			Carrying Value		Principal		Unamortized Discount			Carrying Value
2015 Notes	$	—	$	—		$	—	$	349,999	$	(7,500	)	$	342,499
2024 Notes	350,000		(1,267		)	348,733		350,000		(1,324		)	348,676
Revolving credit facility	—		—			—		—		—			—
Total outstanding debt	$	350,000	$	(1,267	)	$	348,733	$	699,999	$	(8,824	)	$	691,175

Effective interest rate and components of interest expense of 2015 notes

The effective interest rate and components of interest expense of the 2015 Notes for the three and six months ended July 4, 2015 and June 28, 2014 were as follows:

	Three Months Ended						Six Months Ended
	July 4, 2015			June 28, 2014			July 4, 2015			June 28, 2014
	(In thousands, except percentages)
Effective interest rate	8.1		%	8.1		%	8.1		%	8.1		%
Contractual interest expense	$	1,178		$	2,289		$	2,987		$	4,578
Amortization of debt discount	$	2,470		$	4,275		$	7,500		$	8,507