Debt (Tables)

3 Months Ended

Oct. 24, 2015

The Company's outstanding indebtedness consisted of the following:



	October 24, 2015			July 25, 2015
	(Dollars in thousands)
Credit Agreement - Revolving facility (matures April 2020)	$	131,250		$	95,250
Credit Agreement - Term Loan (matures April 2020)	150,000			150,000
0.75% senior convertible notes, net (matures September 2021)	360,384			—
7.125% senior subordinated notes due 2021	—			277,500
Long-term debt premium on 7.125% senior subordinated notes	—			2,841
	641,634			525,591
Less: current portion	(5,625		)	(3,750		)
Long-term debt	$	636,009		$	521,841

Convertible Debt

The Notes consist of the following components:



	October 24, 2015
	(Dollars in thousands)
Liability component
Principal amount of 0.75% senior convertible notes due 2021	$	485,000
Less: Debt discount	(114,608		)
Less: Debt issuance costs attributable to the liability component⁽¹⁾	(10,008		)
Net carrying amount of Notes	$	360,384
Equity Component⁽²⁾	$	112,554

⁽¹⁾Issuance costs of approximately $15.1 million related to the Notes included the initial purchasers' discount of approximately $13.3 million and approximately $1.8 million paid to third parties. Approximately $10.1 million of issuance costs paid to the initial purchasers of the Notes was allocated to the liability component and recorded as a contra-liability, presented net against the carrying amount of the Notes on the Company's condensed consolidated balance sheets, of which $10.0 million remains unamortized as of October 24, 2015. Approximately $1.3 million of issuance costs paid to third parties was allocated to the liability component and recorded as deferred costs within other assets in the Company's condensed consolidated balance sheets. Debt issuance costs attributable to the liability component are amortized to interest expense on the effective interest rate method over the term of the Notes. During the quarter ended October 24, 2015, the Company recorded $0.1 million related to the amortization of debt issuance costs of the Notes.

⁽²⁾ Approximately $3.6 million of issuance costs paid to the initial purchasers of the Notes and third parties was allocated to the equity component and recorded net against the equity component in stockholders' equity on the condensed consolidated balance sheets.