Restructuring, Repositioning, And Efficiency (Tables)

3 Months Ended

Mar. 31, 2013

Activity in the restructuring and repositioning liability for the three months ended March 31, 2013 and 2012, is presented in the following table, along with other restructuring and repositioning expenses recognized.

		Three Months Ended
		March 31
		2013				2012
(Dollars in thousands)		Expense		Liability		Expense		Liability
Beginning balance		$	-	$	19,775	$	-	$	12,026
Severance and other employee related costs			819		819		(152)		(152)
Facility consolidation costs			438		438		44		44
Other exit costs, professional fees, and other			-		-		111		111
Total accrued			1,257		21,032		3		12,029
Payments related to:
	Severance and other employee related costs				6,038				2,037
	Facility consolidation costs				417				592
	Other exit costs, professional fees, and other				-				15
Accrual reversals					96				997
	Restructuring and repositioning reserve balance			$	14,481			$	8,388

Other restructuring and repositioning expense:
	(Gains)/losses on divestitures		(639)				(200)
	Impairment of premises and equipment		-				5
	Other		(96)				-
	Total other restructuring and repositioning expense		(735)				(195)
Total restructuring and repositioning charges		$	522			$	(192)

FHN began initiatives related to restructuring in second quarter 2007. Consequently, the following table presents cumulative amounts incurred to date through March 31, 2013, for costs associated with FHN’s restructuring, repositioning, and efficiency initiatives:

(Dollars in thousands)		Total Expense
Severance and other employee related costs			$	101,512
Facility consolidation costs				41,134
Other exit costs, professional fees, and other				19,165
Other restructuring and repositioning expense:
	Loan portfolio divestiture			7,672
	Mortgage banking expense on servicing sales			23,810
	Net (income) on divestitures			(357)
	Impairment of premises and equipment			22,397
	Impairment of intangible assets			48,231
	Impairment of other assets			40,504
	Other			7,478
Total restructuring and repositioning charges incurred to date as of March 31, 2013			$	311,546