Annual report pursuant to Section 13 and 15(d)

Debt and Revolving Credit Facility (Tables)

v3.22.0.1
Debt and Revolving Credit Facility (Tables)
 12 Months Ended
Dec. 25, 2021
Debt Disclosure [Abstract]  
Schedule of Debt and Other Obligations
The Company’s total debt as of December 25, 2021 and December 26, 2020 consisted of:
December 25,
2021		 December 26,
2020
  (In millions)
7.50% Senior Notes Due 2022 (7.50% Notes)
 $ 312  $ 312 
2.125% Convertible Senior Notes Due 2026 (2.125% Notes)
 1  26 
Total debt (principal amount) 313  338 
Unamortized debt discount and issuance costs —  (8)
Total debt (net) 313  330 
Less: current portion of long-term debt (312) — 
Total long-term debt, net of current portion $ 1  $ 330 
Convertible Debt
The following table sets forth total interest expense recognized related to the 2.125% Notes for the year ended December 25, 2021:
December 25,
2021		 December 26,
2020
(In millions)
Contractual interest expense $ —  $ 4 
Interest cost related to amortization of the debt discount $ —  $ 6 
Schedule of Future Payments on Debt As of December 25, 2021, the Company’s future debt payment obligations were as follows:
Term Debt
(Principal only)
 Year (In millions)
2022 $ 312 
2026 1 
Total $ 313