Table of Contents AVNET, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 18. Restructuring expenses Fiscal 2019 Severance expense recorded in fiscal 2019 related to the reduction, or planned reduction, of approximately 600 employees, primarily in executive management, operations, information technology, warehouse, sales and business support functions. Facility and contract exit costs primarily consist of liabilities for remaining lease obligations for exited facilities and for contractual termination costs. Asset impairments represents an asset impairment expense of $54.7 million relates primarily to software assets that were impaired as a result of the restructuring of information technology operations including the re-prioritization of information technology initiatives and resources. Of the $95.5 million in restructuring expenses recorded during fiscal 2019, $92.4 million related to EC, $2.0 million related to Farnell and $1.1 million related to Corporate executive and business support functions. The Company expects the majority of the remaining amounts to be paid by the end of fiscal 2020. 78 During fiscal 2019, the Company undertook restructuring actions in order to improve operating efficiencies and further integrate the acquisition of Farnell. These restructuring actions included certain costs associated with the continued transformation of the Company’s information technology, distribution center footprint and business operations including the re-prioritization of its information technology initiatives and resources. Restructuring expenses are included as a component of restructuring, integration and other expenses in the Consolidated Statements of Operations. The activity related to the restructuring liabilities established during fiscal 2019 is presented in the following table: Facility and Contract Asset Severance Exit Costs Impairments Total (Thousands) Fiscal 2019 restructuring expenses $ 35,798 $ 5,034 $ 54,687 $ 95,519 Cash payments (17,312) (1,601)  — (18,913) Non-cash amounts  —  — (54,698) (54,698) Other, principally foreign currency translation 1,718 11 11 1,740 Balance at June 29, 2019 $ 20,204 $ 3,444 $  — $ 23,648