Interest and Other Expense, Net
Interest and other expense, net, consisted of the following for the fiscal years ended:
|
| | | | | | | | | | | |
| December 29,
2013 | | December 30,
2012 | | January 1,
2012 |
| (In thousands) |
Interest income | $ | (650 | ) | | $ | (747 | ) | | $ | (1,884 | ) |
Interest expense | 49,924 |
| | 45,787 |
| | 24,783 |
|
Other expense, net | 14,836 |
| | 2,916 |
| | 3,875 |
|
Total interest and other expense, net | $ | 64,110 |
| | $ | 47,956 |
| | $ | 26,774 |
|
In December 2013, the Company redeemed all of its 6% senior unsecured notes due in 2015 (the “2015 Notes”) for a redemption price that included the outstanding principal amount of $150.0 million and a prepayment premium of $11.1 million, which is included in other expense, net. The transaction also resulted in the write-off of $2.8 million for the remaining unamortized derivative losses for previously settled cash flow hedges and the write-off of $0.2 million for the remaining deferred debt issuance costs. Both of these amounts are included in interest expense.
