Restructuring Activities

6 Months Ended

Jun. 30, 2011


8.	Restructuring Activities

The following table summarizes the restructuring expenses incurred during the three and six months ended June 30, 2011 and 2010 and cumulative restructuring expenses incurred through June 30, 2011 associated with our restructuring plans.


											Cumulative
	Three Months Ended					Six Months Ended					Expense⁽¹⁾ as of
	June 30,					June 30,					June 30,
	2011		2010			2011			2010		2011

Severance costs	$	1,258	$	17,658		$	2,638		$	42,455	$	165,440
Lease and other contract termination costs		—		107			—			107		10,929
Exit and other costs		336		43			2,517			50		18,760

Total restructuring costs from continuing operations⁽¹⁾		1,594		17,808			5,155			42,612		195,129
Total restructuring costs from discontinued operations		9		(142	)		(12	)		1,336		29,221

Total	$	1,603	$	17,666		$	5,143		$	43,948	$	224,350


⁽¹⁾		Aggregate restructuring expenses from continuing operations incurred across our reportable segments are disclosed in Note 11, “Segment Reporting.”

Since the fourth quarter of 2007 through June 30, 2011, severance costs were incurred in conjunction with aggregate completed and planned position eliminations across all of our reportable segments, ranging from senior executives to servicing center personnel.

The following table summarizes changes in the restructuring liability balance, which is included in other liabilities in the accompanying consolidated balance sheet.


				Lease and
				Other
				Contract
	Severance			Termination			Exit and
	Costs			Costs			Other Costs			Total

Balance at December 31, 2009	$	9,195		$	3,781		$	—		$	12,976
Net accruals from continuing operations		80,536			1,430			3,270			85,236
Net accruals from discontinued operations		3,108			2,384			70			5,562
Cash paid		(45,235	)		(3,440	)		(1,678	)		(50,353	)

Balance at December 31, 2010		47,604			4,155			1,662			53,421
Net accruals from continuing operations		2,638			—			2,517			5,155
Net accruals from discontinued operations		(18	)		—			6			(12	)
Cash paid		(34,534	)		(889	)		(4,185	)		(39,608	)

Balance at June 30, 2011	$	15,690		$	3,266		$	—		$	18,956