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Convertible Senior Notes
 9 Months Ended
Sep. 24, 2023
Convertible Notes [Abstract]  
Convertible Senior Notes Convertible Senior Notes
2025 Notes - In connection with dividends paid during the thirty-nine weeks ended September 24, 2023, the conversion rate for the Company’s remaining convertible senior notes due 2025 (the “2025 Notes”) decreased to approximately $11.26 per share, which represents 88.783 shares of common stock per $1,000 principal amount of the 2025 Notes, or a total of approximately 9.303 million shares.

The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated:
(dollars in thousands)SEPTEMBER 24, 2023DECEMBER 25, 2022
Principal$104,786 $105,000 
Less: debt issuance costs(1,342)(1,939)
Net carrying amount$103,444 $103,061 

Following is a summary of interest expense for the 2025 Notes by component for the periods indicated:
THIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED
(dollars in thousands)SEPTEMBER 24, 2023SEPTEMBER 25, 2022SEPTEMBER 24, 2023SEPTEMBER 25, 2022
Coupon interest$1,310 $1,313 $3,932 $6,785 
Debt issuance cost amortization201 190 594 963 
Total interest expense (1)$1,511 $1,503 $4,526 $7,748 
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(1)The effective rate of the 2025 Notes over their expected life is 5.85%. The decrease in interest expense during the thirty-nine weeks ended September 24, 2023 relates to the 2025 Notes Partial Repurchase in May 2022.

Based on the daily closing prices of the Company’s stock during the quarter ended September 24, 2023, the remaining holders of the 2025 Notes are eligible to convert their notes during the fourth quarter of 2023.