RESTRUCTURING EXPENSES

During 2022, the Company initiated restructuring activities intended to reduce expenses, consolidate certain segment corporate headquarters, and align the cost structure of the business with the Company's near-term revenue outlook. The Company continued such activities during the period and recorded restructuring expenses of $2.9 million and $20.9 million during the three and six months ended June 30, 2024, respectively, resulting in aggregate expenses of $42.4 million since the inception of the restructuring activities in 2022. These costs were primarily comprised of early contract termination costs related to certain independent sales agreements and a third party service and marketing agreement, employee severance within Progressive Leasing, and operating lease right-of-use asset impairment charges related to the relocation of the Vive corporate headquarters to the Company's corporate office building and a reduction of management and information technology space. The Company will continue to monitor the impacts of changes in macroeconomic conditions on its businesses and may take additional steps to further adjust the Company's cost structure based on unfavorable changes in these conditions, which may result in further restructuring charges in future periods.

The following tables summarize restructuring charges recorded within operating expenses in the condensed consolidated statements of earnings for the three and six months ended June 30, 2024 and 2023:


	Three Months Ended June 30, 2024								Three Months Ended June 30, 2023
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	230	$	—	$	628	$	858	$	930	$	—	$	—	$	930


Early Contract Termination Costs	—		—		2,000		2,000		—		—		—		—
Other Restructuring Activities	28		—		—		28		33		—		—		33
Total Restructuring Expenses	$	258	$	—	$	2,628	$	2,886	$	963	$	—	$	—	$	963


	Six Months Ended June 30, 2024								Six Months Ended June 30, 2023
(In Thousands)	Progressive Leasing		Vive		Other		Total		Progressive Leasing		Vive		Other		Total
Severance	$	4,336	$	—	$	628	$	4,964	$	1,723	$	—	$	—	$	1,723
Right-of-Use Asset Impairment1	4,515		—		—		4,515		—		—		—		—
Property and Equipment Impairment	1,503		—		—		1,503		—		—		—		—
Early Contract Termination Costs	7,750		—		2,000		9,750		—		—		—		—
Other Restructuring Activities	168		—		—		168		(3)		—		—		(3)
Total Restructuring Expenses	$	18,272	$	—	$	2,628	$	20,900	$	1,720	$	—	$	—	$	1,720

1 To determine the amount of impairment for vacated office space, the fair value of the ROU asset is calculated based on the present value of the estimated net cash flows related to asset.

The following table summarizes the accrual and payment activity related to the restructuring program for the six months ended June 30, 2024 and 2023:


(In Thousands)	Severance		Early Contract Termination Costs		Other Restructuring Activities		Total
Balance at December 31, 2023	$	2,675	$	2,500	$	—	$	5,175
Charges	4,964		9,750		168		14,882
Cash Payments	(5,888)		(10,650)		(135)		(16,673)
Balance at June 30, 2024	$	1,751	$	1,600	$	33	$	3,384


(In Thousands)	Severance		Other Restructuring Activities		Total
Balance at December 31, 2022	$	3,061	$	42	$	3,103
Charges	1,723		(3)		1,720
Cash Payments	(1,564)		(4)		(1,568)
Balance at June 30, 2023	$	3,220	$	35	$	3,255