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LONG-TERM COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of compensation expense

For 2022, 2021 and 2020, compensation expense associated with the Company's long-term compensation plans was as follows:

						Year Ended December 31,
(dollars in millions)						2022						2021						2020
Equity classified RSUs						$	17.4					$	39.6					$	4.2
Liability classified RSUs						—						—						0.9
Stock options						0.3						0.5						0.9
Total						$	17.7					$	40.1					$	6.0
Unrecognized compensation expense for awards expected to vest						$	19.2
Weighted average remaining vesting period (months)						30

Restricted stock unit award activity in payment awards

At December 31, 2022, a total of 7,820,000 shares of common stock had been issued, and 4,289,420 RSUs and stock options were outstanding, under the 2013 Plan.

						Total						Equity Classified RSUs												Stock Options
Outstanding at December 31, 2021						4,589,005						4,195,432												393,573
Granted						2,847,135						2,847,135												—
Exercised/Issued						(3,045,949)						(3,040,166)												(5,783)
Forfeited						(100,771)						(100,771)												—
Outstanding at December 31, 2022						4,289,420						3,901,630												387,790

Issuance of restricted stock units

The Company granted the following equity classified RSUs under the 2013 Plan:

Year of Issuance:						RSUs						Weighted Average Grant Date Fair Value						Weighted Average Vesting Period (months)
2022						2,847,135						$	23.23					51
2021						852,890						$	18.02					28
2020						1,500,783						$	11.45					32

Schedule of RSUs outstanding

At December 31, 2022, the following equity classified RSUs were outstanding:

						December 31, 2022
Vesting Conditions:						Outstanding												Weighted Average Remaining Vesting Period (months)						Potential Additional Awards
Service-based						591,298												10						—
Performance-based						1,360,332												13						1,068,475
Performance-based awards deemed not probable						1,950,000												50						—
Total						3,901,630												31						1,068,475

Schedule of qualified and non-qualified stock options

The Company granted the following qualified and non-qualified stock options under the 2013 Plan:

Year of Issuance:						Stock Options						Weighted Average Strike Price Per Share						Weighted Average Grant Date Fair Value Per Share
2020						242,334						$	12.25					$	4.47

Schedule of range of assumptions used in valuing stock options

The following table provides the range of assumptions used in valuing stock options for the year ended December 31, 2020:

																		Year Ended December 31,
																		2020
Weighted average expected term (years) (1)																		6.0
Expected volatility (2)																		35.5%
Risk-free rate (3)																		1.45%
Expected dividend yield																		—%

(1) Weighted average expected term is calculated based on the simplified method for plain vanilla options.

(2) Expected volatility is calculated based on a blend of the implied and historical equity volatility of an index of comparable companies over a period equal to the expected term.

(3) Risk-free rate of return is based on an interpolation of U.S. Treasury rates to reflect an expected term of six years at the date of grant.

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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