|
Debt and Other Obligations (Tables)
|
12 Months Ended |
|
Dec. 27, 2014
|
| Debt Instrument, Redemption [Line Items] |
|
| Schedule of Debt and Other Obligations |
|
|
|
|
|
|
|
|
|
|
December 27,
2014 |
|
December 28,
2013 |
|
(In millions) |
6.00% Notes, net of discount |
$ |
42 |
|
|
$ |
517 |
|
8.125% Notes, net of discount |
— |
|
|
470 |
|
6.75% Notes |
600 |
|
|
— |
|
6.75% Notes, interest rate swap |
3 |
|
|
— |
|
7.75% Notes |
450 |
|
|
500 |
|
7.50% Notes |
475 |
|
|
500 |
|
7.00% Notes |
500 |
|
|
— |
|
Secured Revolving Line of Credit |
130 |
|
|
55 |
|
Capital lease obligations |
12 |
|
|
16 |
|
Total debt |
2,212 |
|
|
2,058 |
|
Less: current portion |
177 |
|
|
60 |
|
Total debt, less current portion |
$ |
2,035 |
|
|
$ |
1,998 |
|
|
| Schedule of Information Related to Equity and Debt Components |
|
|
|
|
|
|
|
|
|
|
December 27,
2014 |
|
December 28,
2013 |
|
(In millions) |
Carrying amount of the equity component |
$ |
125 |
|
|
$ |
159 |
|
Principal amount of the 6.00% Notes |
42 |
|
|
530 |
|
Unamortized discount |
— |
|
|
(13 |
) |
Net carrying amount |
$ |
42 |
|
|
$ |
517 |
|
|
| Schedule of Information Related to Interest Rates and Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014 |
|
2013 |
|
2012 |
|
(In millions, except percentages) |
Effective interest rate |
8 |
% |
|
8 |
% |
|
8 |
% |
Interest cost related to contractual interest coupon |
$ |
9 |
|
|
$ |
45 |
|
|
$ |
44 |
|
Interest cost related to amortization of the discount |
$ |
3 |
|
|
$ |
10 |
|
|
$ |
9 |
|
|
| Schedule of Future Payments on Debt and Other Obligations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Term
Debt
(Principal
only)
|
|
Short Term Debt (Principal only) |
|
Capital
Leases
|
|
(In millions) |
2015 |
$ |
— |
|
|
$ |
172 |
|
|
$ |
5 |
|
2016 |
— |
|
|
— |
|
|
6 |
|
2017 |
— |
|
|
— |
|
|
1 |
|
2018 |
— |
|
|
— |
|
|
— |
|
2019 |
600 |
|
|
— |
|
|
— |
|
2020 and thereafter |
1,425 |
|
|
— |
|
|
— |
|
Total |
2,025 |
|
|
172 |
|
|
12 |
|
Less: imputed interest |
— |
|
|
— |
|
|
— |
|
Total |
$ |
2,025 |
|
|
$ |
172 |
|
|
$ |
12 |
|
|
| 7.75% Senior Notes Due 2020 |
|
| Debt Instrument, Redemption [Line Items] |
|
| Debt Instrument Redemption |
|
|
|
|
Period |
Price as
Percentage of
Principal Amount
|
Beginning on August 1, 2015 through July 31, 2016 |
103.875 |
% |
Beginning on August 1, 2016 through July 31, 2017 |
102.583 |
% |
Beginning on August 1, 2017 through July 31, 2018 |
101.292 |
% |
On August 1, 2018 and thereafter |
100.000 |
% |
|
| 7.00% Senior Notes due 2024 |
|
| Debt Instrument, Redemption [Line Items] |
|
| Debt Instrument Redemption |
|
|
|
|
Period |
Price as
Percentage of
Principal Amount
|
Beginning on July 1, 2019 through June 30, 2020 |
103.500 |
% |
Beginning on July 1, 2020 through June 30, 2021 |
102.333 |
% |
Beginning on July 1, 2021 through June 30, 2022 |
101.167 |
% |
On July 1, 2022 and thereafter |
100.000 |
% |
|