4. RESTRUCTURING PROGRAMS AND SEPARATION COSTS

Restructuring Programs

In December 2016, the Company committed to and implemented a restructuring program in an effort to reduce costs, increase efficiencies, reduce duplication of functions and improve the Company’s operations (the “2016 Restructuring Program”). The 2016 Restructuring Program involved the elimination of approximately 320 positions across all of the Company’s theme parks and corporate headquarters. As a result, the Company recorded $8,904 in pre-tax restructuring and other related costs associated with the 2016 Restructuring Program on the accompanying consolidated statements of comprehensive (loss) income. The Company will not incur any additional costs associated with the 2016 Restructuring Program as all continuing service obligations were completed as of December 31, 2016.

The 2016 Restructuring Program activity for the year ended December 31, 2016 was as follows:

	Severance and Other Employment Expenses
Liability as of December 31, 2015		—
Costs incurred		8,904
Payments made		(1,062	)
Liability as of December 31, 2016	$	7,842

Separately, in the first quarter of 2016, the Company incurred approximately $112 in severance costs associated with certain positions that were eliminated as a result of cost saving initiatives. These costs are included in restructuring and other related costs for the year ended December 31, 2016 on the accompanying consolidated statements of comprehensive (loss) income. The liability as of December 31, 2016 relates to restructuring and other related costs and is included in accrued salaries, wages and benefits on the accompanying consolidated balance sheet.

In the fourth quarter of 2015, as part of a cost savings initiative and ongoing review of departmental structures, certain positions were eliminated. The severance costs related to these positions of $2,001 is included in restructuring and other related costs for the year ended December 31, 2015 on the accompanying consolidated statements of comprehensive (loss) income. Restructuring and other related costs do not include any costs associated with the separation of the Company’s Chief Executive Officer and President effective January 15, 2015 (the “Former CEO”) as discussed below.

In December 2014, the Company implemented a restructuring program in an effort to centralize certain functions and reduce duplication to increase efficiencies (the “2014 Restructuring Program”). The 2014 Restructuring Program involved the elimination of approximately 300 positions across all of the Company’s theme parks and corporate headquarters. As a result, the Company recorded $11,834 in pre-tax restructuring and other related costs associated with the 2014 Restructuring Program, of which $11,567 was incurred in 2014 and $267 was incurred in 2015 on the accompanying consolidated statements of comprehensive (loss) income. The Company will not incur any additional costs associated with the 2014 Restructuring Program as all continuing service obligations were completed as of June 30, 2015.

Costs incurred in 2016, 2015 and 2014 related to the 2014 and 2016 Restructuring Programs primarily consist of severance and other employment expenses. Other related restructuring expenses incurred in 2014 include third party consulting costs associated with the development of the cost savings plan and the 2014 Restructuring Program.

Separation Costs

The Company’s former Chief Executive Officer resigned from his role effective on January 15, 2015. Pursuant to a separation and consulting agreement entered into by the Company and the Former CEO on December 10, 2014, the Former CEO remained involved with the Company as a member of the Board through April 15, 2016 and remains in a consulting capacity to the Company for a three-year consulting term ending on January 15, 2018. The Company recorded $2,574 as separation costs on the accompanying consolidated statements of comprehensive (loss) income for the year ended December 31, 2014 related to this separation, which was paid in January 2015.

Additionally, in connection with the 2014 Restructuring Program and the separation of the Former CEO, conditions for eligibility on certain unvested performance restricted shares of common stock were modified to allow those participants who are separating from the Company, including the Former CEO, to vest in their respective awards if the performance conditions are achieved after their employment ends with the Company. See Note 18–Equity-Based Compensation for further details.