Operating (Gains), Losses and Other Charges, Net

Operating (gains), losses and other charges, net were comprised of the following:



	Fiscal Year Ended
	December 28, 2016		December 30, 2015			December 31, 2014
	(In thousands)
Pension settlement loss	$	24,297	$	—		$	—
Losses (gains) on sales of assets and other, net	29		(93		)	(112		)
Restructuring charges and exit costs	1,486		1,524			981
Impairment charges	1,098		935			401
Operating (gains), losses and other charges, net	$	26,910	$	2,366		$	1,270

The pre-tax pension settlement loss of $24.3 million related to the completion of the Pension Plan liquidation during the year ended December 28, 2016. See Note 11 for details on the Pension Plan liquidation.

Restructuring charges and exit costs were comprised of the following:



	Fiscal Year Ended
	December 28, 2016		December 30, 2015		December 31, 2014
	(In thousands)
Exit costs	$	591	$	697	$	335
Severance and other restructuring charges	895		827		646
Total restructuring charges and exit costs	$	1,486	$	1,524	$	981

The components of the change in accrued exit cost liabilities were as follows:



	December 28, 2016			December 30, 2015
	(In thousands)
Balance, beginning of year	$	2,043		$	2,142
Exit costs ⁽¹⁾	591			697
Payments, net of sublease receipts	(855		)	(932		)
Interest accretion	117			136
Balance, end of year	1,896			2,043
Less current portion included in other current liabilities	330			550
Long-term portion included in other noncurrent liabilities	$	1,566		$	1,493


(1)	Included as a component of operating (gains), losses and other charges, net.

As of both December 28, 2016 and December 30, 2015, we had accrued severance and other restructuring charges of $0.4 million. The balance as of December 28, 2016 is expected to be paid during the next 12 months.

Estimated net cash payments related to exit cost liabilities in the next five years are as follows:



	(In thousands)
2017	$	439
2018	427
2019	253
2020	197
2021	209
Thereafter	909
Total	2,434
Less imputed interest	538
Present value of exit cost liabilities	$	1,896

The present value of exit cost liabilities is net of $1.9 million of existing sublease arrangements and $0.9 million related to properties for which we assume we will enter into sublease agreements in the future. See Note 8 for a schedule of future minimum lease commitments and amounts to be received as lessor or sub-lessor for both open and closed restaurants.

Impairment charges of $1.1 million for the year ended December 28, 2016 and $0.9 million for the year ended December 30, 2015 resulted primarily from the impairment of restaurants identified as assets held for sale. Impairment charges of $0.4 million for the year ended December 31, 2014 resulted primarily from the impairment of an underperforming restaurant.