Long-Term Debt (Tables)

6 Months Ended

Jun. 29, 2013

Long-Term Debt [Abstract]

Key terms of the convertible debentures

Convertible Senior Debentures

Vishay currently has three issuances of convertible senior debentures outstanding with generally congruent terms.  The following table summarizes some key facts and terms regarding the three series of outstanding convertible senior debentures:

	Due 2040			Due 2041			Due 2042
Issuance date	November 9, 2010			May 13, 2011			May 31, 2012
Maturity date	November 15, 2040			May 15, 2041			June 1, 2042
Principal amount	$	275,000		$	150,000		$	150,000
Cash coupon rate (per annum)		2.25	%		2.25	%		2.25	%
Nonconvertible debt borrowing rate at issuance (per annum)		8.00	%		8.375	%		7.50	%
Initial conversion rate (per $1 principal amount)		72.0331			52.5659			84.6937
Effective conversion price (per share)	$	13.88		$	19.02		$	11.81
130% of the conversion price (per share)	$	18.04		$	24.73		$	15.35
Call date	November 20, 2020			May 20, 2021			June 7, 2022

Liability and equity of component of convertible senior debentures

The carrying values of the liability and equity components of the convertible debentures are reflected in the Company's consolidated condensed balance sheets as follows:

	Principal amount of the debentures		Unamortized discount			Embedded derivative		Carrying value of liability component		Equity component - net carrying value
June 29, 2013
Due 2040	$	275,000		(174,568	)		459	$	100,891	$	110,094
Due 2041	$	150,000		(98,552	)		312	$	51,760	$	62,246
Due 2042	$	150,000		(92,507	)		206	$	57,699	$	57,874
Total	$	575,000	$	(365,627	)	$	977	$	210,350	$	230,214
December 31, 2012
Due 2040	$	275,000		(175,456	)		622	$	100,166	$	110,094
Due 2041	$	150,000		(99,000	)		399	$	51,399	$	62,246
Due 2042	$	150,000		(92,958	)		282	$	57,324	$	57,874
Total	$	575,000	$	(367,414	)	$	1,303	$	208,889	$	230,214

Schedule of long-term debt instruments

Long-term debt consists of the following:

	June 29,2013		December 31,2012
Credit facility	$	100,000	$	89,000
Exchangeable unsecured notes, due 2102		95,042		95,042
Convertible senior debentures, due 2040		100,891		100,166
Convertible senior debentures, due 2041		51,760		51,399
Convertible senior debentures, due 2042		57,699		57,324
		405,392		392,931
Less current portion		-		-
	$	405,392	$	392,931

Convertible debentures, interest expense

Interest expense related to the debentures is reflected on the consolidated condensed statements of operations for the fiscal quarters ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debentures
June 29, 2013
Due 2040	$	1,547		448		22		(16	)	$	2,001
Due 2041	$	844		226		12		1		$	1,083
Due 2042	$	844		227		14		(3	)	$	1,082
Total	$	3,235	$	901	$	48	$	(18	)	$	4,166
June 30, 2012
Due 2040	$	1,547		414		22		71		$	2,054
Due 2041	$	844		209		12		109		$	1,174
Due 2042	$	291		74		5		42		$	412
Total	$	2,682	$	697	$	39	$	222		$	3,640

Interest expense related to the debentures is reflected on the consolidated condensed statements of operations for the six fiscal months ended:

	Contractual coupon interest		Non-cash amortization of debt discount		Non-cash amortization of deferred financing costs		Non-cash change in value of derivative liability			Total interest expense related to the debentures
June 29, 2013
Due 2040	$	3,094		888		44		(163	)	$	3,863
Due 2041	$	1,688		448		24		(87	)	$	2,073
Due 2042	$	1,688		451		27		(76	)	$	2,090
Total	$	6,470	$	1,787	$	95	$	(326	)	$	8,026
June 30, 2012
Due 2040	$	3,094		821		44		(33	)	$	3,926
Due 2041	$	1,688		413		24		34		$	2,159
Due 2042	$	291		74		5		42		$	412
Total	$	5,073	$	1,308	$	73	$	43		$	6,497