Debt Including Capital Lease Obligations (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Schedule of carrying values and estimated fair values of debt instruments

The carrying values of our debt represent amortized cost and are summarized below with estimated fair values:

	March 31, 2014					December 31, 2013					March 31, 2013
	Carrying Value			Estimated Fair Value1		Carrying Value			Estimated Fair Value1		Carrying Value			Estimated Fair Value1
(In thousands)
7.875% Senior Secured Notes due 2021	$	412,249		$	462,000	$	422,174		$	459,000	$	421,956		$	446,000
4.25% Convertible Senior Notes due 2016	167,006			201,000		164,050			194,000		155,701			183,000
ABL Revolver	5,000			5,000		—			—		27,586			27,500
ABL Term Loan	6,000			6,000		6,375			6,000		7,500			7,500
Capital lease obligations2	42,477			42,000		39,025			39,000		690			700
Other debt	6,541			6,000		—			—		—			—
Less current portion	(4,169		)			(2,271		)			(1,755		)
Total long-term debt and capital lease obligations	$	635,104				$	629,353				$	611,678

¹  The fair value of the senior notes is based on observable inputs, which include quoted prices for similar assets or liabilities in an active market and market-corroborated inputs (Level 2). All other debt may be traded on the secondary loan market, and the fair value is based on either the last available trading price, if recent, or trading prices of comparable debt (Level 3). See also Note 9 for discussion of fair value.

² Capital lease obligations at March 31, 2014 and December 31, 2013 include the borrowings for the salad production and warehousing facility in the Midwest. See further description of the build-to-suit lease below.

Carrying amounts of convertible debt and equity components

The carrying amounts of the debt and equity components of the Convertible Notes are as follows:

(In thousands)	March 31, 2014			December 31, 2013			March 31, 2013
Principal amount of debt component1	$	200,000		$	200,000		$	200,000
Unamortized discount	(32,994		)	(35,950		)	(44,299		)
Net carrying amount of debt component	$	167,006		$	164,050		$	155,701
Equity component	$	84,904		$	84,904		$	84,904
Issuance costs and income taxes	(3,210		)	(3,210		)	(3,210		)
Equity component, net of issuance costs and income taxes	$	81,694		$	81,694		$	81,694

¹  As of March 31, 2014, December 31, 2013 and March 31, 2013, the Convertible Notes' "if-converted" value did not exceed their principal amount because our common stock price was below the conversion price of the Convertible Notes.

The interest expense related to the Convertible Notes was as follows:

	Quarter Ended March 31,
(In thousands)	2014		2013
4.25% coupon interest	$	2,125	$	2,125
Amortization of deferred financing fees	117		117
Amortization of discount on the debt component	2,956		2,619
Total interest expense related to the Convertible Notes	$	5,198	$	4,861