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Restructuring Charges
 12 Months Ended
Dec. 31, 2017
Restructuring Charges [Abstract]  
Restructuring Charges
Note 3 - Restructuring Charges
For the years ended December 31, 2017, 2016, and 2015 total restructuring charges consist of the following components:
 
 
Years Ended December 31,
(in thousands)
 
2017
 
2016
 
2015
Severance charges
 
$
6,128

 
$
—

 
$
—

Asset impairment charges
 
715

 
8,107

 
229

Gain on sale of assets held for sale, net
 
(4
)
 
—

 
(401
)
Other charges
 
175

 
160

 
208

Total restructuring charges
 
$
7,014

 
$
8,267

 
$
36

 
 
 
 
 
 
 

Restructuring charges of $7.0 million were recorded for the year ended December 31, 2017, consisting primarily of severance charges of $6.1 million. Severance charges included $6.1 million for termination benefits incurred in conjunction with a voluntary early retirement program offered during the first quarter of 2017. This program was part of Synovus' ongoing efficiency initiatives. The accrual balance for severance charges associated with the voluntary early retirement program was $336 thousand at December 31, 2017. Additionally, during 2017, Synovus recorded restructuring charges of $715 thousand due to additional asset impairment charges on properties previously identified for disposition.
For the year ended December 31, 2016, restructuring charges totaled $8.3 million with $5.3 million related to corporate real estate optimization activities and $2.8 million associated with branch closures. For the year ended December 31, 2015, Synovus recorded net gains of $401 thousand on the sale of certain branch locations and recorded additional expense of $437 thousand associated primarily with branches closed during 2014.
The following table presents aggregate activity associated with accruals that resulted from the restructuring charges recorded during the years ended December 31, 2017, 2016, and 2015:
 
 
 
 
 
 
 
(in thousands)
 
Severance Charges
 
Lease Termination Charges
 
Total
Balance at December 31, 2014
 
$
3,291

 
$
5,539

 
$
8,830

Accruals for lease terminations
 
—

 
(3
)
 
(3
)
Payments
 
(1,361
)
 
(849
)
 
(2,210
)
Balance at December 31, 2015
 
1,930

 
4,687

 
6,617

Accruals for lease terminations
 
—

 
6

 
6

Payments
 
(1,849
)
 
(725
)
 
(2,574
)
Balance at December 31, 2016
 
81

 
3,968

 
4,049

Accruals for voluntary and involuntary termination benefits
 
6,128

 
—

 
6,128

Payments
 
(5,873
)
 
(692
)
 
(6,565
)
Balance at December 31, 2017
 
$
336

 
$
3,276

 
$
3,612

 
 
 
 
 
 
 

Other charges were paid in the years that they were incurred. No other restructuring charges resulted in payment accruals.