Annual report pursuant to Section 13 and 15(d)

Debt and Other Obligations (Tables)

v2.4.1.9
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
%