Debt (Tables)

12 Months Ended

Jul. 29, 2022

Outstanding Principal Amount and Carrying Value of the Notes

The following table includes the outstanding principal amount and carrying value of the Notes as of the period indicated:

	July 29, 2022		July 30, 2021
Liability component
Principal	$	300,000	$	300,000
Less: Debt discount (1)		—		50,767
Less: Debt issuance costs		6,901		7,254
Net carrying amount	$	293,099	$	241,979

(1)	Prior to the adoption of the new accounting guidance for convertible instruments, debt discount and issuance costs are amortized to interest expense using the effective interest method over the expected life of the Notes.

Summary of Interest Expense

The effective rate of the Notes over their expected life is 1.23%. The following is a summary of interest expense for the Notes for the year ended July 29, 2022:

	Year Ended July 29, 2022
Coupon interest	$	1,896
Amortization of issuance costs		1,755
Total interest expense	$	3,651