Debt (Tables)

12 Months Ended

May 03, 2015

Debt Disclosure [Abstract]

Schedule of Convertible Debt

The Company’s convertible debt as of May 3, 2015 and April 27, 2014 is summarized as follows (in thousands):

	Carrying		Interest	Due in
Description	amount		rate	fiscal year
As of May 3, 2015
Convertible Senior Notes due December 2033	221,406		0.50%	2034
Total	$	221,406
As of April 27, 2014
Convertible Senior Notes due October 2029	$	40,015	5.00%	2030
Convertible Senior Notes due December 2033	$	212,253	0.50%	2034
Total	$	252,268

Convertible Debt

The 2033 Notes consisted of the following:

	As of
(in thousands)	May 3, 2015
Liability component:
Principal	$	258,750
Unamortized debt discount	(37,344		)
Net carrying amount of the liability component	$	221,406
Carrying amount of the equity component	$	49,648

Interest Expense

The following table sets forth interest expense information for the year ended May 3, 2015 related to the 2033 Notes:

(in thousands, except percentages)
Contractual interest expense	$	1,294
Amortization of the debt discount	9,153
Amortization of issuance costs	616
Total interest cost	$	11,063
Effective interest rate on the liability component	4.87		%