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 year ended December 31, 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 year ended December 31, 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.

During 2014, 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 category results. These costs were included in the line item "Restructuring Expenses" in the consolidated statements of earnings. The Company does not currently anticipate any remaining costs related to this restructuring plan to be material.

The following table summarizes the balances and activity related to the restructuring charges:



(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	(1,570		)	(620		)	—			—			(2,190		)
Impairment and Assets Written Off	—			—			(3,328		)	(395		)	(3,723		)
Balance at December 31, 2014	3,227			—			—			—			3,227
Payments	(1,559		)	—			—			—			(1,559		)
Balance at December 31, 2015	$	1,668		$	—		$	—		$	—		$	1,668

In the ordinary course of business, the Company continually reviews, and as appropriate adjusts, the amount and mix of Company-operated and franchised stores to help optimize overall performance. Costs incurred to close stores during 2015 were not significant.