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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of options issued | A summary of the Company’s outstanding options is presented below:
|  |  |  | Weighted
|  |  |  | Average
|  |  |  | Grant-Date
|  | Options |  | Fair Value
Options outstanding at December 31, 2018 |  | 18,091,793 |  | $ | 1.85
Grants |  | 886,115 |  | $ | 8.83
Exercises |  | (984,585) |  | $ | 1.80
Forfeitures and adjustments |  | (253,579) |  | $ | 2.67
Options outstanding at December 31, 2019 |  | 17,739,744 |  | $ | 2.19
Vested options outstanding at December 31, 2019 |  | 8,061,312 |  | $ | 1.80
Schedule of assumptions used to estimate the fair value of the options | The significant assumptions used to estimate the fair value of the options as of the grant date were as follows:
Weighted Average Expected Life (years) |  |  | 5.7 |
Weighted Average Risk-Free Interest Rate |  |  | 2.9 | %
Weighted Average Expected Volatility |  |  | 20.0 | %
Weighted Average Expected Dividend Yield |  |  | 3.9 | %
Weighted Average Share Price |  | $ | 21.62 |
Weighted Average Exercise Price |  | $ | 21.62 |
Schedule of unrecognized compensation expense | As of December 31, 2019, total unrecognized compensation expense related to unvested stock-based compensation arrangements and the expected recognition period are as follows (dollars in thousands):
|  | Cash-Settled |  | Equity-Settled |  |
|  | PRSUs |  | PRSUs |  | Options
Total unrecognized compensation cost |  | $ | 383 |  | $ | 31,283 |  | $ | 4,068
Weighted-average recognition period |  |  | 1.0 years |  |  | 1.7 years |  |  | 2.8 years
Equity-settled PRSUs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of equity-settled PRSUs issued | A summary of the Company’s outstanding equity-settled PRSUs is presented below:
|  |  |  | Weighted
|  |  |  | Average
|  | Equity-Settled |  | Grant-Date
|  | PRSUs |  | Fair Value
Equity-settled PRSUs outstanding at December 31, 2018 |  | 2,000,384 |  | $ | 9.53
Grants |  | 781,026 |  | $ | 21.08
Vests |  | — |  | $ | —
Performance adjustment |  | 762,326 |  | $ | 21.08
Forfeitures |  | (53,070) |  | $ | 13.48
Equity-settled PRSUs outstanding at December 31, 2019 |  | 3,490,666 |  | $ | 14.59
Schedule of unrecognized compensation expense | The following table shows a summary of equity-settled PRSU activity during the year ended December 31, 2019 (in thousands):
|  | Successor
|  | Year Ended
|  | December 31,
|  | 2019
Equity-settled PRSU compensation expense |  | $ | 25,392
Income tax benefit |  | $ | (4,781)
Cash-settled PRSUs |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of equity-settled PRSUs issued | A summary of the Company’s outstanding cash-settled PRSUs is presented below:
|  |  |  | Weighted
|  | Cash-Settled |  | Average
|  | PRSUs |  | Fair Value
Cash-settled PRSUs outstanding at December 31, 2018 |  | 522 |  | $ | 34,221
Grants |  | — |  | $ | —
Vests (1) |  | (507) |  | $ | 33,842
Forfeitures |  | — |  | $ | —
Cash-settled PRSUs outstanding at December 31, 2019 |  | 15 |  | $ | 94,997
(1) The total fair value of cash-settled PRSUs vested was $17.2 million for the year ended December 31, 2019.
Options |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of unrecognized compensation expense | The following table shows a summary options activity during the year ended December 31, 2019 (in thousands):
|  | Successor
|  | Year Ended
|  | December 31,
|  | 2019
Options compensation expense |  | $ | 24,432
Income tax benefit |  | $ | (8,556)

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