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Long-Term Debt (Tables) | 9 Months Ended
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Oct. 02, 2021
Long-Term Debt [Abstract] |
Long-term Debt Instruments | Long-term debt consists of the following:
|  | October 2, 2021 |  |  | December 31, 2020 |
Credit facility |  | $ | - |  |  | $ | - |
Convertible senior notes, due 2025 |  |  | 465,344 |  |  |  | 406,268 |
Convertible senior debentures, due 2040 |  |  | - |  |  |  | 130 |
Deferred financing costs |  |  | (10,496 | ) |  |  | (11,512 | )
|  |  | 454,848 |  |  |  | 394,886 |
Less current portion |  |  | - |  |  |  | - |
|  | $ | 454,848 |  |  | $ | 394,886 |
Key Facts and Terms of the Convertible Debt Instruments | The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2025 as of October 2, 2021:
|  | Convertible Senior Notes Due 2025 |
Issuance date |  | June 12, 2018 |
Maturity date |  | June 15, 2025 |
Principal amount as of October 2, 2021 |  | $ | 465,344 |
Cash coupon rate (per annum) |  |  | 2.25 | %
Nonconvertible debt borrowing rate at issuance (per annum) |  |  | 5.50 | %
Conversion rate effective September 9, 2021 (per $1 principal amount) |  |  | 31.9258 |
Effective conversion price effective September 9, 2021 (per share) |  | $ | 31.32 |
130% of the conversion price (per share) |  | $ | 40.72 |
Call date |  |  | n/a |
Liability and Equity of Component of Convertible Debt Instruments | The carrying value of the convertible senior notes due 2025 was $465,344 as of October 2, 2021. The carrying value of the liability and equity components of the convertible debt instruments prior to the adoption of ASU No. 2020-06 are reflected in the Company’s consolidated condensed balance sheet as follows:
|  | Principal amount of the debt instruments |  |  | Unamortized discount |  |  | Carrying value of liability component |  |  | Equity component (including temporary equity) -net carrying value |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes due 2025 |  | $ | 465,344 |  |  |  | (59,076 | ) |  | $ | 406,268 |  |  | $ | 66,127 |
Convertible senior debentures due 2040 |  | $ | 300 |  |  |  | (170 | ) |  | $ | 130 |  |  | $ | 121 |
Total |  | $ | 465,644 |  |  | $ | (59,246 | ) |  | $ | 406,398 |  |  | $ | 66,248 |
Convertible Debt Instruments, Interest Expense | Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the fiscal quarters ended:
|  | Contractual coupon interest |  |  | Non-cash amortization of debt discount |  |  | Other non-cash interest expense |  |  | Total interest expense related to the debt instruments |
October 2, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes due 2025 |  | $ | 2,618 |  |  |  | - |  |  |  | 433 |  |  | $ | 3,051 |
October 3, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes due 2025 |  | $ | 2,839 |  |  |  | 3,099 |  |  |  | 382 |  |  | $ | 6,320 |
Convertible senior debentures |  | $ | 16 |  |  |  | 8 |  |  |  | - |  |  | $ | 24 |
Total |  | $ | 2,855 |  |  | $ | 3,107 |  |  | $ | 382 |  |  | $ | 6,344 |
Interest expense related to the convertible debt instruments is reflected on the consolidated condensed statements of operations for the nine fiscal months ended:
|  | Contractual coupon interest |  |  | Non-cash amortization of debt discount |  |  | Other non-cash interest expense |  |  | Total interest expense related to the debt instruments |
October 2, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes due 2025 |  | $ | 7,854 |  |  |  | - |  |  |  | 1,299 |  |  | $ | 9,153 |
October 3, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes due 2025 |  | $ | 9,480 |  |  |  | 10,195 |  |  |  | 1,271 |  |  | $ | 20,946 |
Convertible senior debentures |  | $ | 76 |  |  |  | 37 |  |  |  | - |  |  | $ | 113 |
Total |  | $ | 9,556 |  |  | $ | 10,232 |  |  | $ | 1,271 |  |  | $ | 21,059 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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