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Equity-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share Based Compensation [Abstract] |
Share-based Compensation Activity | Share-based compensation activity during the nine months ended September 30, 2021 included the following:
(Shares in thousands) |  | Granted |  |  | Vested |  |  | Forfeited |
Performance Share Awards (PSAs) |  |  | 88,128 |  |  |  | — |  |  |  | 1,450 |
Restricted Stock Units (RSUs) |  |  | 65,607 |  |  |  | 24,599 |  |  |  | 1,484 |
Details of Equity-Based Compensation Expense and Related Income Tax Benefit | The following table details equity-based compensation expense and the related income tax benefit:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Equity-based compensation expense: |  |  |  |  |  |  |  |  |  |  |  |
Performance share awards |  | $ | 1,416 |  |  | $ | 1,315 |  |  | $ | 4,012 |  |  | $ | 3,716 |
Restricted stock units |  |  | 805 |  |  |  | 729 |  |  |  | 2,197 |  |  |  | 2,155 |
Deferred compensation stock equivalent units expense |  |  | 54 |  |  |  | 19 |  |  |  | 136 |  |  |  | 57 |
Total equity-based compensation expense |  | $ | 2,275 |  |  | $ | 2,063 |  |  | $ | 6,345 |  |  | $ | 5,928 |
Total tax benefit recognized for equity-based expense |  | $ | 125 |  |  | $ | 97 |  |  | $ | 321 |  |  | $ | 273 |
Fair Value of Performance Share Awards Granted | The following table presents the key inputs used in the Monte Carlo simulation to calculate the fair value of the performance share awards granted in 2021:
Stock price as of valuation date |  | $ | 53.53 |
Risk-free rate |  |  | 0.18 | %
Expected volatility |  |  | 45.56 | %
Expected dividend yield 1 |  |  | — |
Expected term (years) |  |  | 3.00 |
1 | Full dividend reinvestment assumed.

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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