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Restructuring, Repositioning, and Efficiency | 6 Months Ended
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Jun. 30, 2020
Restructuring and Related Activities [Abstract] |
Restructuring, Repositioning, and Efficiency | Restructuring, Repositioning, and Efficiency Beginning in 2019, FHN initiated a company-wide review of business practices with the goal of optimizing its expense base to improve profitability and create capacity to reinvest savings into technology and revenue production activities. Restructuring, repositioning, and efficiency charges related to these corporate-driven actions were not significant in the first half 2020 and were $30.8 million in the first half 2019 and are included in the Corporate segment. Significant expenses resulted from the following actions:
• | Severance and other employee costs primarily related to efficiency initiatives within corporate
and bank services functions which are classified as Employee compensation, incentives and benefits within noninterest expense.
• | Expense largely related to the identification of efficiency opportunities within the organization which is reflected in Professional fees.
• | Expense related to costs associated with asset impairments which is reflected in Other expense.
Settlement of the obligations arising from current initiatives will be funded from operating cash flows. Total expense recognized for the three and six months ended June 30, 2020 and 2019 is presented in the table below:
|  | Three Months Ended June 30 |  | Six Months Ended June 30
Dollars in thousands |  | 2020 |  | 2019 |  | 2020 |  | 2019
Employee compensation, incentives and benefits |  | $ | 32 |  |  | $ | 2,557 |  |  | $ | 89 |  |  | $ | 9,062 |
Professional fees |  | 7 |  |  | 4,242 |  |  | 14 |  |  | 8,537 |
Occupancy |  | — |  |  | 72 |  |  | 2 |  |  | 889 |
Other |  | 1 |  |  | 11,797 |  |  | (102 | ) |  | 12,332 |
Total restructuring, repositioning, and efficiency charges |  | $ | 40 |  |  | $ | 18,668 |  |  | $ | 3 |  |  | $ | 30,820 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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