Convertible Debt (Tables)

6 Months Ended

Jul. 02, 2021

The following table presents the components of the 2022 Notes:


	As of
(in thousands, except for years and percentages)	July 2, 2021			December 31, 2020
Liability component:
Principal amount	$	37,707		$	37,707
Less: Debt discount, net of amortization	(1,020)			(1,357)
Less: Debt issuance costs, net of amortization	(320)			(425)
Carrying amount	$	36,367		$	35,925
Remaining debt discount amortization period (years)	1.4			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				Six Months Ended
(in thousands)	July 2, 2021		June 26, 2020		July 2, 2021		June 26, 2020
Contractual interest expense	$	412	$	128	$	824	$	128
Amortization of debt discount	171		49		337		49
Amortization of debt issuance costs	53		15		105		15
Total interest expense recognized	$	636	$	192	$	1,266	$	192

The following table presents the components of the 2024 Notes:


	As of
(in thousands, except for years and percentages)	July 2, 2021			December 31, 2020
Liability component:
Principal amount	$	115,500		$	115,500
Less: Debt discount, net of amortization	(16,982)			(19,294)
Less: Debt issuance costs, net of amortization	(2,310)			(2,624)
Carrying amount	$	96,208		$	93,582
Remaining debt discount amortization period (years)	3.2			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				Six Months Ended
(in thousands)	July 2, 2021		June 26, 2020		July 2, 2021		June 26, 2020
Contractual interest expense	$	578	$	578	$	1,156	$	1,156
Amortization of debt discount	1,166		1,077		2,312		2,134
Amortization of debt issuance costs	158		146		314		290
Total interest expense recognized	$	1,902	$	1,801	$	3,782	$	3,580