Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
Summary of Lease Exit Accruals

A summary of the activity of these operating lease exit accruals consists of the following:

 

 

 

(In thousands)

 

Balance at December 31, 2016

 

$

9,790

 

Lease exit expense (1)

 

 

2,016

 

Payments (2)

 

 

(2,671

)

Other (3)

 

 

(1,377

)

Balance at September 30, 2017

 

$

7,758

 

 

(1)

Expense of approximately $0.1 million is recorded in interest expense, other, net and expense of approximately $0.8 million is recorded in selling, general and administrative expenses in the accompanying condensed consolidated statements of income. In addition, expense of approximately $1.1 million is recorded in income (loss) from discontinued operations before taxes in the accompanying condensed consolidated statements of income.

(2)

Amount is recorded as an offset to rent expense, with approximately $0.7 million recorded in selling, general and administrative expenses in the accompanying condensed consolidated statements of income and approximately $2.0 million recorded in income (loss) from discontinued operations before taxes in the accompanying condensed consolidated statements of income.

(3)

Amount represents the cash settlement of accruals related to certain deferred maintenance costs and other liabilities related to lease termination.