Restructuring and Related Activities

During the second half of fiscal 2014, the Company completed a series of restructuring initiatives which included closing 377 underperforming stores and reducing expenses through workforce optimization. As a result of these initiatives, the Company incurred $90.1 million of charges in fiscal 2014, consisting primarily of lease obligations, property and equipment impairments, inventory write-downs, and termination benefits. The table below summarizes the restructuring accrual activity related to the Company's restructuring initiatives completed in fiscal 2014.



(in thousands)	Employee termination benefits			Lease Obligations			Other			Total
Balance as of August 30, 2014	$	823		$	43,689		$	4,206		$	48,718
Charges	—			—			—			—
Cash Payments	(342		)	(7,019		)	(3,435		)	(10,796		)
Balance as of November 29, 2014	$	481		$	36,670		$	771		$	37,922

Additionally, in fiscal 2014, the Company entered into the Dollar Tree merger agreement, upon terms and subject to the conditions of which Dollar Tree will acquire Family Dollar in a cash and stock transaction. In conjunction with this pending merger agreement, the Company incurred $8.9 million of professional fee expense in the first quarter of fiscal 2015, consisting primarily of legal costs. The Company did not consider these professional fee expenses deductible for income taxes.

As of November 29, 2014, the Company's accrual for fees associated with the pending merger was $15.1 million, included within Accrued liabilities on the Consolidated Condensed Balance Sheets.