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Restructuring | 12 Months Ended
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Dec. 31, 2018
Restructuring and Related Activities [Abstract] |
Restructuring | RESTRUCTURING 2017 and 2016 Restructuring Programs During the year ended December 31, 2017 and 2016, the Company initiated restructuring programs to rationalize its Company-operated Aaron's store base portfolio to better align with marketplace demand. The programs resulted in the closure and consolidation of 139 underperforming Company-operated Aaron's stores throughout 2016, 2017, and 2018. The Company also optimized its home office staff and field support, which resulted in a reduction in employee headcount in those areas to more closely align with current business conditions. Total net restructuring expenses of $1.1 million were recorded during the year ended December 31, 2018, which were incurred within the Aaron's Business segment. Restructuring activity for the year ended December 31, 2018 was comprised of expenses to record changes in sublease assumptions related to Aaron’s Business contractual lease obligations for closed stores, which were partially offset by reversals of previously recorded restructuring expenses and gains recorded on the sale of properties closed under the restructuring programs. These costs were included in restructuring expenses in the consolidated statements of earnings. The Company does not expect to incur any material expenses under the 2017 and 2016 restructuring programs during 2019 or future periods. However, this estimate is subject to change based on future changes in assumptions for the remaining minimum lease obligation for stores closed under the restructuring program, including changes related to sublease assumptions and potential earlier buyouts of leases with landlords. The following table summarizes the balances of the accruals for both programs, which are recorded in accounts payable and accrued expenses in the consolidated balance sheets, and the activity for the years ended December 31, 2018 and 2017:
(In Thousands) | Contractual Lease Obligations |  | Severance |  | Total
Balance at January 1, 2017 | $ | 10,583 |  |  | $ | 2,079 |  |  | $ | 12,662 |
Charges | 13,501 |  |  | 3,176 |  |  | 16,677 |
Adjustments 1 | (69 | ) |  | — |  |  | (69 | )
Restructuring Charges | 13,432 |  |  | 3,176 |  |  | 16,608 |
Payments | (11,578 | ) |  | (2,952 | ) |  | (14,530 | )
Balance at December 31, 2017 | 12,437 |  |  | 2,303 |  |  | 14,740 |
Charges | — |  |  | 601 |  |  | 601 |
Adjustments 1 | 2,057 |  |  | — |  |  | 2,057 |
Restructuring Charges | 2,057 |  |  | 601 |  |  | 2,658 |
Payments | (6,022 | ) |  | (2,253 | ) |  | (8,275 | )
Balance at December 31, 2018 | $ | 8,472 |  |  | $ | 651 |  |  | $ | 9,123 |
1 Adjustments relate to changes in sublease assumptions and interest accretion. The following table summarizes restructuring charges by segment for the years ended:
| December 31, 2018 |  | December 31, 2017 |  | December 31, 2016
(In Thousands) | Aaron’s Business |  | Aaron’s Business |  | DAMI |  | Total |  | Aaron’s Business
Contractual Lease Obligations | $ | 2,057 |  |  | $ | 13,432 |  |  | $ | — |  |  | $ | 13,432 |  |  | $ | 11,589 |
Severance | 601 |  |  | 2,705 |  |  | 471 |  |  | 3,176 |  |  | 3,883 |
Other (Reversals) Expenses | (1,176 | ) |  | 1,386 |  |  | — |  |  | 1,386 |  |  | 4,746 |
Gain on Sale of Closed Store Properties | (377 | ) |  | — |  |  | — |  |  | — |  |  | — |
Total Restructuring Expenses | $ | 1,105 |  |  | $ | 17,523 |  |  | $ | 471 |  |  | $ | 17,994 |  |  | $ | 20,218 |
To date, the Company has incurred charges of $39.3 million under the 2016 and 2017 restructuring programs. 2019 Restructuring Program - Subsequent Event In January 2019, the Company initiated a restructuring program (the "2019 Restructuring Program") to further align its Company-operated Aaron's store base portfolio with marketplace demand. As a result of management's strategic review of the existing store portfolio, the Company will close and consolidate approximately 85 underperforming Company-operated Aaron's stores during 2019. The Company currently expects to incur $12 million to $15 million of restructuring expenses, which will all be incurred within the Aaron's Business segment during 2019. The restructuring expenses will primarily consist of impairment charges associated with the closed stores.

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- References No definition available. + Details
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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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