Debt (Tables)

12 Months Ended

Dec. 26, 2014

Debt Disclosure [Abstract]

Long-term debt, net of discount

Long-term debt, net of discount, consisted of the following (in thousands):

	December 26, 2014			December 27, 2013
Term A Loan	$	95,126		$	83,155
Term B Loan	50,632			31,082
Senior convertible notes	—			22,315
Less: Term loans discount	(18,710		)	(24,207		)
	127,048			112,345
Less: current portion of long-term debt	—			(22,315		)
	$	127,048		$	90,030

Secured leverage ratio requirements

Under the credit agreement, as amended in February 2014, the secured leverage ratio requirements, as defined in the agreement, are set forth in the table below:

Test Period End Date(s)	Secured Leverage Ratio
March 31, 2014 through December 31, 2014	11.00 to 1.00
March 31, 2015 through December 31, 2015	9.50 to 1.00
March 31, 2016 through December 31, 2016	8.00 to 1.00
March 31, 2017 through December 31, 2017	5.00 to 1.00

Term loans

As of December 26, 2014 and December 27, 2013, the term loans had a carrying value of $127.0 million and $90.0 million, respectively, reconciled as follows:

	Term A		Term B		Total
Carrying value, December 28, 2012	53,928		20,510		74,438
Accretion of discount	3,498		1,373		4,871
PIK Interest	8,154		2,567		10,721
Carrying value, December 27, 2013	65,580		24,450		90,030
Accretion of discount	3,968		1,528		5,496
Exchange transaction issuances	1,286		15,360		16,646
PIK Interest	10,685		4,191		14,876
Carrying value, December 26, 2014	$	81,519	$	45,529	$	127,048