CONVERTIBLE DEBT (Tables)

6 Months Ended

Jul. 01, 2022

Debt Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table presents the components of the 2022 Notes:

	As of
(in thousands, except for years and percentages)	July 1, 2022		December 31, 2021
Liability component:
Principal amount	$	37,707	$	37,707
Less: Debt discount, net of amortization	—		(672)
Less: Debt issuance costs, net of amortization	(119)		(211)
Carrying amount	$	37,588	$	36,824
Remaining debt discount amortization period (years)	n/a		0.9
Effective interest rate on liability component	n/a		6.95		%

The following table presents the components of the 2024 Notes:

	As of
(in thousands, except for years and percentages)	July 1, 2022		December 31, 2021
Liability component:
Principal amount	$	115,500	$	115,500
Less: Debt discount, net of amortization	—		(14,576)
Less: Debt issuance costs, net of amortization	(1,959)		(1,983)
Carrying amount	$	113,541	$	98,941
Remaining debt discount amortization period (years)	n/a		2.7
Effective interest rate on liability component	n/a		7.95		%

Schedule of Convertible Debt Interest

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

	Three Months Ended				Six Months Ended
(in thousands)	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Contractual interest expense	$	412	$	412	$	824	$	824
Amortization of debt discount	—		171		—		337
Amortization of debt issuance costs	70		53		138		105
Total interest expense recognized	$	482	$	636	$	962	$	1,266

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

	Three Months Ended				Six Months Ended
(in thousands)	July 1, 2022		July 2, 2021		July 1, 2022		July 2, 2021
Contractual interest expense	$	578	$	578	$	1,156	$	1,156
Amortization of debt discount	—		1,166		—		2,312
Amortization of debt issuance costs	217		158		434		314
Total interest expense recognized	$	795	$	1,902	$	1,590	$	3,782