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Restructuring Charges
 12 Months Ended
Dec. 31, 2015
Restructuring Charges [Abstract]  
Restructuring Charges
Note 3 - Restructuring Charges
For the years ended December 31, 2015, 2014, and 2013 total restructuring charges consist of the following components:
 
 
Years Ended December 31,
(in thousands)
 
2015
 
2014
 
2013
Severance charges
 
$
—

 
7,246

 
8,046

Lease termination charges
 
(3
)
 
4,808

 
1,060

Asset impairment charges
 
229

 
7,530

 
2,030

Gain on sale of assets held for sale, net
 
(401
)
 
(766
)
 
(135
)
Professional fees and other charges
 
211

 
1,767

 
63

Total restructuring charges
 
$
36

 
20,585

 
11,064

 
 
 
 
 
 
 

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, net of $437 thousand associated primarily with the 2014 branch closings. Restructuring charges for the year ended December 31, 2014 related primarily to expense savings initiatives that were approved during 2014. The initiatives included the consolidation or closing of certain branch locations as well as workforce reductions.   Asset impairment and lease termination charges for the year ended December 31, 2014 consisted primarily of charges related to the closure of 13 branches during the fourth quarter of 2014.   Severance charges for the year ended December 31, 2014 consisted of estimated involuntary termination benefits for targeted staff reductions identified during 2014. These termination benefits were provided under an ongoing benefit arrangement as defined in ASC 712, Compensation-Nonretirement Postemployment Benefits; accordingly, the charges were recorded pursuant to the liability recognition criteria of ASC 712.   Additionally, substantially all of the professional fees and other charges for the year ended December 31, 2014 consisted of professional fees incurred in connection with an organizational restructuring implemented during 2014.
Restructuring charges for the year ended December 31, 2013 related primarily to expense savings initiatives approved during 2013 which consisted primarily of the consolidation or closing of certain branch locations as well as workforce reductions. The involuntary termination benefits relating to these workforce reductions were provided under a one-time benefit arrangement as defined in ASC 420, Exit or Disposal Costs or Obligations; accordingly, the charges were recorded pursuant to the liability recognition criteria of ASC 420.
The following table presents aggregate activity associated with accruals that resulted from the restructuring charges recorded during the years ended December 31, 2015, 2014, and 2013:

 
 
 
 
 
 
 
(in thousands)
 
Severance Charges
 
Lease Termination Charges
 
Total
Balance as of December 31, 2012
 
$
257

 
471

 
728

Accruals for efficiency initiatives
 
8,046

 
1,060

 
9,106

Payments
 
(6,731
)
 
(148
)
 
(6,879
)
Balance at December 31, 2013
 
1,572

 
1,383

 
2,955

Accruals for efficiency initiatives
 
7,246

 
4,808

 
12,054

Payments
 
(5,527
)
 
(652
)
 
(6,179
)
Balance at December 31, 2014
 
3,291

 
5,539

 
8,830

Accruals for efficiency initiatives
 
—

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

 
4,687

 
6,617

 
 
 
 
 
 
 

All professional fees and other charges were paid in the years that they were incurred. No other restructuring charges resulted in any payment accruals.