Convertible Debt (Tables)

3 Months Ended

Apr. 02, 2021

The following table presents the components of the 2022 Notes:


	As of
(in thousands, except for years and percentages)	April 2, 2021			December 31, 2020
Liability component:
Principal amount	$	37,707		$	37,707
Less: Debt discount, net of amortization	(1,191)			(1,357)
Less: Debt issuance costs, net of amortization	(373)			(425)
Carrying amount	$	36,143		$	35,925
Remaining debt discount amortization period (years)	1.7			1.9
Effective interest rate on liability component	6.95		%	6.95		%

The following table presents interest expense recognized for the 2022 Notes:


	Three months ended
(in thousands)	April 2, 2021		March 27, 2020
Contractual interest expense	$	412	n/a
Amortization of debt discount	166		n/a
Amortization of debt issuance costs	52		n/a
Total interest expense recognized	$	630	n/a

The following table presents the components of the 2024 Notes:


	As of
(in thousands, except for years and percentages)	April 2, 2021			December 31, 2020
Liability component:
Principal amount	$	115,500		$	115,500
Less: Debt discount, net of amortization	(18,153)			(19,294)
Less: Debt issuance costs, net of amortization	(2,463)			(2,624)
Carrying amount	$	94,884		$	93,582
Remaining debt discount amortization period (years)	3.4			3.7
Effective interest rate on liability component	7.95		%	7.95		%

The following table presents interest expense recognized for the 2024 Notes:


	Three months ended
(in thousands)	April 2, 2021		March 27, 2020
Contractual interest expense	$	578	$	578
Amortization of debt discount	1,146		1,058
Amortization of debt issuance costs	156		144
Total interest expense recognized	$	1,880	$	1,780