On August 10, 2016, we announced the launch of Project Centennial, a comprehensive business and operational review. We identified opportunities to enhance revenue growth, streamline operations, improve efficiencies, and make investments that strengthen our competitive position and improve margins over the long term. We began Project Centennial with an evaluation of our brands, product mix, and organizational structure. We then developed strategic priorities to help us capitalize on retail and consumer changes. The primary objective is to improve margins and profitably grow the revenue over time. These priorities are as follows:

Reduce costs to fuel growth. The company is focusing on reducing costs in our purchased goods and services initiative and our supply chain optimization plan. Purchased goods and services operations will be centralized to create standardization and develop consistent policies and specifications. Supply chain optimization intends to reduce operational complexity and capitalize on scale. This initiative includes, and will continue to include, consulting and other third-party costs as we finalize the organizational structure. We incurred $6.4 million for these non-restructuring consulting costs during the sixteen weeks ended April 21, 2018. There were no consulting costs during the sixteen weeks ended April 20, 2019.

Develop leading capabilities. On May 3, 2017, the company announced an enhanced organizational structure designed to provide greater focus on the company’s strategic objectives, emphasize brand growth and innovation in line with a national branded food company, drive enhanced accountability, reduce costs, and strengthen our long-term strategy. The new organizational structure established two BUs, Fresh Bakery and Snacking/Specialty, and realigned key leadership roles. The new structure also provided for centralized marketing, sales, supply chain, shared-services/administrative, and corporate strategy functions, each with more clearly defined roles and responsibilities. On July 2, 2018, the company announced the appointment of A. Ryals McMullian to the chief operating officer (“COO”) position, which continued refinements to the organizational structure. On February 19, 2019, the Board of Directors announced that Mr. McMullian, the current COO, will assume the role of president and CEO, effective May 23, 2019; until then, Mr. McMullian will be transitioning to the CEO role. Transition to the new reporting structure was completed in the first quarter of fiscal 2019 and the company is now reporting our financial results in one operating segment. See Note 1, Basis of Presentation, of Notes to Condensed Consolidated Financial Statements of this Form 10-Q for a description of our segment presentation.

We began relocating certain employees during the third quarter of fiscal 2017 as we transitioned to the new structure. Reorganization costs for relocating employees of $0.2 million and $1.5 million were incurred during the sixteen weeks ended April 20, 2019 and April 21, 2018, respectively, and are recognized in the restructuring charges line item on the Condensed Consolidated Statements of Income.

On July 17, 2017, the company commenced a voluntary employee separation incentive plan (the “VSIP”). The VSIP was implemented as part of our effort to restructure and streamline operations and better position the company for profitable growth. The VSIP election period closed on September 25, 2017 and resulted in approximately 325 employees accepting the offer. The separations began on September 7, 2017, and were substantially complete by the end of fiscal 2017. We recorded a credit of $0.6 million during the sixteen weeks ended April 21, 2018. These charges consisted primarily of employee severance and benefits-related costs and are recorded in the restructuring charges line item on our Condensed Consolidated Statements of Income.

Reinvigorate core business. This objective is to invest in our brands to align brands to consumers to maximize our return on investment. We expect to incur significant incremental marketing costs annually for brand development. These costs will not be restructuring and will be recognized as incurred. Project Centennial is expected to be completed by our fiscal 2021.

The company continues to explore additional opportunities to streamline our core operations, but as of April 20, 2019, we cannot estimate the additional costs expected to be incurred for this initiative.

Capitalize on product adjacencies. This initiative focuses on growing market share in underdeveloped markets. Adjacencies are geographic and/or product categories that are expected to leverage our competitive advantages. This can be achieved either organically with our high-potential brands or through strategic acquisitions. As of April 20, 2019, we cannot estimate the costs expected to be incurred for this initiative.

The tables below present the components of costs associated with Project Centennial for the sixteen weeks ended April 20, 2019 and April 21, 2018 (amounts in thousands):

	For the Sixteen Weeks Ended
	April 20, 2019
Restructuring and related impairment charges:
Reorganization costs	$	211
Impairment of assets		530
Employee termination benefits		(23	)
Total Project Centennial restructuring costs	$	718

	For the Sixteen Weeks Ended
	April 21, 2018
Restructuring and related impairment charges:
Reorganization costs	$	1,512
VSIP		(597	)
Employee termination benefits		344
Restructuring and related impairment charges (1)		1,259
Project Centennial implementation costs (2)		6,432
Total Project Centennial restructuring and implementation costs	$	7,691

The tables below present the components of, and changes in, our restructuring accruals for the sixteen weeks ended April 20, 2019 and April 21, 2018 (amounts in thousands):

	VSIP		Employee Termination Benefits⁽¹⁾			Reorganization Costs⁽²⁾			Total
Liability balance at December 29, 2018	$	174	$	227		$	—		$	401
Charges		—		(23	)		211			188
Cash payments		—		(204	)		(211	)		(415	)
Liability balance (3) at April 20, 2019	$	174	$	—		$	—		$	174

	VSIP			Employee Termination Benefits⁽¹⁾			Reorganization Costs⁽²⁾			Total
Liability balance at December 30, 2017	$	25,022		$	468		$	—		$	25,490
Charges		(597	)		344			1,512			1,259
Cash payments		(23,912	)		(608	)		(1,512	)		(26,032	)
Liability balance (3) at April 21, 2018	$	513		$	204		$	—		$	717