XML 35 R18.htm IDEA: XBRL DOCUMENT
v3.20.4

Share-based Compensation | 12 Months Ended
--- | ---
Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Share-based compensation | Share-based Compensation Amended and Restated Stock Incentive Plan. We award restricted share units and grant qualified incentive and nonqualified stock options to our salaried officers, non-employee directors, and other key employees from our Amended and Restated Stock Incentive Plan (the "Stock Incentive Plan"). The Stock Incentive Plan has 12,900,000 shares authorized for issuance with approximately 5,082,695 shares remaining at December 31, 2020. Our share-based compensation consists of service-based and performance-based share awards that typically vest over a period of three years from the date of grant, provided that the recipient is still our employee at the time of vesting. Our independent non-employee directors receive annual grants of service-based share awards that typically vest following 12 months of service. Long-Term Incentive Plan. We also grant annual long-term incentive awards under our Amended and Restated Long-Term Incentive Plan (the "LTIP"). The LTIP is designed to provide senior-level employees the opportunity to earn long-term incentive awards through the achievement of performance goals and to align compensation with the interests of our stockholders. This is achieved by linking compensation to share price appreciation and total stockholder return over a multi-year period. Awards made under the LTIP are granted subject to the Stock Incentive Plan to the extent the award is deliverable in stock. We provide two types of LTIP awards: time-vested share units and performance units. Time-vested share units are stock-settled awards which do not contain any performance-based vesting requirements. Performance units can be settled in cash or stock and vest based on the achievement of pre-determined performance metrics at the discretion of the Board. Our performance unit liability was approximately $6.5 million and $3.7 million as of December 31, 2020 and 2019, respectively. Both the performance units and time-vested share units vest, in their entirety, after three years.
Service-based share awards |  | Number
Outstanding at January 1, 2020 |  | 921,418 |
Granted |  | 949,431 |
Vested |  | (249,700) |
Forfeited |  | (39,997) |
Outstanding at December 31, 2020 |  | 1,581,152 |
Performance-based share awards |  | Number
Outstanding at January 1, 2020 |  | 844,063 |
Granted |  | 646,565 |
Vested |  | (288,851) |
Forfeited |  | — |
Outstanding at December 31, 2020 |  | 1,201,777 |
| Year ended December 31,
Service-based share awards | 2020 |  | 2019 |  | 2018
Weighted average per share fair value of service-based share grants | $ | 7.50 |  |  | $ | 11.34 |  |  | $ | 20.21 |
Total intrinsic value of option exercises | — |  |  | 39 |  |  | 444 |
Fair Value Measurement of Share-Based Compensation Awards. We estimate the fair value of each stock option award using the Black-Scholes model on the date of grant. Our last grant of stock options, awarded in 2009, expired in May 2019. We have not granted any stock options since 2009. For our service-based awards, fair value is equal to the closing stock price on the date of grant. For our performance-based awards, fair value is equal to the closing stock price at each reporting period end. The following table summarizes the compensation cost recognized for the years ended December 31, 2020, 2019 and 2018 for all options, service-based and performance-based share awards. The compensation cost is included as part of selling, general and administrative expenses in our Consolidated Statements of Operations.
| Year ended December 31,
| 2020 |  | 2019 |  | 2018
Share-based compensation expense reported: |  |  |  |  |
Performance-based share expense | $ | 6.3 |  |  | $ | 3.0 |  |  | $ | (0.1) |
Service-based share expense | 3.3 |  |  | 3.5 |  |  | 3.8 |
Total share-based compensation expense before income tax | 9.6 |  |  | 6.5 |  |  | 3.7 |
Income tax | — |  |  | — |  |  | — |
Total share-based compensation expense, net of income tax | $ | 9.6 |  |  | $ | 6.5 |  |  | $ | 3.7 |
No share-based compensation cost was capitalized during these periods and there were no significant modifications of any share-based awards in 2020, 2019 and 2018. As of December 31, 2020, we had unrecognized compensation cost of $12.5 million before taxes. This cost will be recognized over a weighted average period of two years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration