Restructuring (Notes)

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

On July 15, 2014, the Company announced that a rigorous evaluation of the Company-operated store portfolio had been performed. As a result of this evaluation and other cost-reduction initiatives, during the three months ended September 30, 2014, the Company closed 44 underperforming Company-operated stores and restructured its home office and field support to more closely align with current business conditions. The restructuring was completed during the third quarter of 2014 and total restructuring charges of $9.1 million were recorded during the nine months ended September 30, 2014, principally comprised of $4.8 million related to contractual lease obligations, $3.3 million related to the write-off and impairment of property, plant and equipment and $620,000 related to workforce reductions. These costs were included in the line item “Restructuring expenses” in the consolidated statements of earnings.

Total restructuring charges of $4.8 million have been included in the Sales and Lease Ownership segment results and total restructuring charges of $4.3 million have been included in the Other segment results. The Company does not currently anticipate any remaining costs related to this restructuring plan to be material.

The following table summarizes the balance of the accruals related to the restructuring charges and the movement in that accrual for the nine months ended September 30, 2014:

(In Thousands)	Contractual Obligations Under Canceled Leases			Severance			Fixed Assets			Other			Total
Balance at January 1, 2014	$	—		$	—		$	—		$	—		$	—
Restructuring Expenses	4,797			620			3,328			395			9,140
Payments	(699		)	(176		)	—			—			(875		)
Impairment and Assets Written Off	—			—			(3,328		)	(395		)	(3,723		)
Balance at September 30, 2014	$	4,098		$	444		$	—		$	—		$	4,542