23. Restructuring

ClearPoint — Homeward Transaction

On February 14, 2013, the Company entered into an agreement to sell substantially all of ClearPoint’s assets to Homeward. This transaction closed on February 22, 2013, and all remaining business activities of ClearPoint have been substantially wound down. Refer to Note 24 herein for additional information.

The following table summarizes the restructuring charges incurred by the Company for the three months ended March 31, 2013, which have been recorded as a component of discontinued operations:

	Three Months Ended March 31,
(In thousands)	2013
Cash charges
Severance and other compensation	$	1,263
Third party vendor contracts	99
Legal costs	431
Non-cash charges
Intangible asset impairment	587
Recognition of other deferred charges	448
Total Restructuring expense*	$	2,828

*The Company does not expect to incur any additional material charges with respect to this restructuring.

The following table summarizes the changes in the Company’s liability related to this restructuring for the three months ended March 31, 2013:

(In thousands of dollars)
Balance — January 1, 2013	$	—
Restructuring expense	2,828
Less: Non-cash charges	(1,035		)
Payments for severance and other compensation	(1,236		)
Payments for third party vendor contracts	(17		)
Payments for legal costs	(269		)
Restructuring reserve — March 31, 2013	$	271