In fiscal 2018, the Company took actions to better align its global infrastructure with the current business environment by consolidating certain operations and streamlining functions to reduce costs and improve profitability. Also, in light of the changing retail landscape and the growing importance of digital marketing and online sales, the Company decided to cease its participation in the Baselworld Watch and Jewelry Show. As a result, the Company recorded $13.6 million of pre-tax expenses primarily for severance and payroll related expenses, fixed assets, other and occupancy charges, predominantly impacting the Company’s North American and Swiss operations. The Company substantially completed the actions under the cost savings initiatives as of January 31, 2018.

A summary rollforward of costs related to the cost savings initiatives is as follows (in thousands):

	Severance and payroll related (1)			Fixed assets (1)			Other (1)			Occupancy Charges (1)			Total
Fiscal 2018 Charges (2)	$	5,630		$	5,166		$	2,692		$	99		$	13,587
Cash payments		(5,895	)		—			(1,847	)		(34	)		(7,776	)
Non-cash adjustments		1,124			(5,166	)		—			—			(4,042	)
Foreign exchange		72			—			74			9			155
Accrued balance at January 31, 2018		931			—			919			74			1,924
Cash payments		(601	)		—			(589	)		(45	)		(1,235	)
Non-cash adjustments (3)		(30	)		—			(251	)		—			(281	)
Foreign exchange		—			—			(52	)		(4	)		(56	)
Accrued balance at January 31, 2019	$	300		$	—		$	27		$	25		$	352

(1)

The total severance and payroll related charges of $5.6 million include $4.3 million in SG&A and $1.3 million in Cost of Sales in the Consolidated Statement of Operations for the fiscal year ended January 31, 2018. The fixed assets charges of $5.2 million, other charges of $2.7 million and occupancy charges of $0.1 million are included in SG&A in the Consolidated Statement of Operations for the fiscal year ended January 31, 2018. These accrued balances are located in accrued liabilities in the Company’s Consolidated Balance Sheets.

(2)	The United States and International locations of the Watch and Accessory Brands segment include a pre-tax charge of $3.9 million and $9.7 million, respectively, for the fiscal year ended January 31, 2018.

(3)	Non-cash adjustments during fiscal 2019 relate to a change in estimate for severance and other. The United States and International locations of the Watch and Accessory Brands segment include pre-tax income of approximately $43,000 and $238,000 respectively.

In fiscal 2016, the Company had commenced an initiative to achieve greater operating efficiencies and streamline its operations, primarily at certain of its foreign subsidiaries. The Company recorded a total of $4.0 million of pre-tax expenses during fiscal 2017 and substantially completed the actions under this initiative as of January 31, 2017. As of January 31, 2019, and 2018, zero and $0.3 million remained in accrued liabilities, respectively.