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Restructuring
 3 Months Ended
Mar. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring RESTRUCTURING
2020 Restructuring Program
During the first quarter of 2020, the Company initiated further restructuring actions related to a real estate repositioning program, which resulted in the closure and consolidation of 40 Company-operated stores during the first quarter of 2020, and we currently expect to close approximately 65 additional stores over the next twelve months. Total net restructuring expenses of $16.4 million were recorded for the three months ended March 31, 2020 under the 2020 restructuring program, all of which were incurred within the Aaron's Business segment. Restructuring expenses for the three months ended March 31, 2020 were comprised mainly of operating lease right-of-use asset and fixed asset impairment charges as well as severance charges to rationalize our field support and store support center staff.
The Company continually evaluates its Company-operated Aaron's Business store portfolio to determine if it will further rationalize its store base to better align with marketplace demand, including the potential direct or indirect effects of the COVID-19 pandemic. Additional restructuring charges may result from our real estate repositioning and optimization initiatives, which may include investing in our next generation store concepts to appeal to our target customer market in better, more profitable locations.
2019 Restructuring Program
During the first quarter of 2019, the Company initiated a restructuring program to further optimize its Company-operated Aaron's Business store portfolio, which resulted in the closure and consolidation of 155 underperforming Company-operated stores during 2019. The Company also further rationalized its store support center and field support staff, which resulted in a reduction in associate headcount in those areas to more closely align with current business conditions.
Total net restructuring expenses of $4.6 million were recorded for the three months ended March 31, 2020 under the 2019 restructuring program, all of which were incurred within the Aaron's Business segment. Restructuring expenses for the three months ended March 31, 2020 were comprised principally of closed store operating lease right-of-use asset impairment charges due to changes in estimates of future sublease activity of the vacant properties. These costs were included in restructuring expenses, net in the condensed consolidated statements of earnings. We expect future restructuring expenses (reversals) due to potential future early buyouts of leases with landlords as well as continuing variable maintenance charges and taxes.
2017 and 2016 Restructuring Programs
During the years ended December 31, 2017 and 2016, the Company initiated restructuring programs to rationalize its Company-operated Aaron's Business store portfolio to better align with marketplace demand. The programs resulted in the closure and consolidation of 139 underperforming Company-operated stores throughout 2016, 2017, and 2018. The Company also optimized its store support center and field support staff, which resulted in a reduction in associate headcount in those areas to more closely align with current business conditions.
Total net restructuring expenses of $1.3 million were recorded for the three months ended March 31, 2020 under the 2017 and 2016 restructuring programs, all of which were incurred within the Aaron's Business segment. Restructuring expenses for the three months ended March 31, 2020 were comprised principally of closed store operating lease right-of-use asset impairment charges due to changes in estimates of future sublease activity of the vacant properties. These costs were included in restructuring expenses, net in the condensed consolidated statements of earnings. We expect future restructuring expenses (reversals) due mainly to potential future early buyouts of leases with landlords as well as continuing variable maintenance charges and taxes, but do not expect these charges or reversals to be material.
The following table summarizes restructuring charges for the three months ended March 31, 2020 and 2019, respectively, under the three programs:
 
Three Months Ended March 31,
(In Thousands)
2020
 
2019
Right-of-Use Asset Impairment
$
15,742

 
$
8,723

Operating Lease Charges
1,449

 
799

Fixed Asset Impairment
2,689

 
1,497

Severance
2,031

 
1,136

Other Expenses
375

 
1,126

Total Restructuring Expenses, Net
$
22,286

 
$
13,281


To date, the Company has incurred charges of $42.2 million under the 2016 and 2017 restructuring programs and $43.1 million under the 2019 restructuring program. These cumulative charges are primarily comprised of operating lease right-of-use asset and fixed impairment charges, losses recognized related to contractual lease obligations, and severance related to reductions in store support center and field support staff headcount.
The following table summarizes the balances of the accruals for the restructuring programs, which are recorded in accounts payable and accrued expenses in the condensed consolidated balance sheets, and the activity for the three months ended March 31, 2020:
(In Thousands)
Severance
Balance at January 1, 2020
$
756

Restructuring Severance Charges
2,031

Payments
(1,462
)
Balance at March 31, 2020
$
1,325