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Stock-based Compensation and Outstanding Awards (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Significant Assumptions Used to Calculate the Grant Date Fair Market Values of Options Granted

The Black-Scholes framework uses the assumptions noted in the table below:

		December 31,
		2021				2020
Valuation Assumptions:
Expected volatility			61.3	%			43.7	%
Risk-free interest rate			0.5	%			1.4	%
Expected dividends (per share)		$	—			$	—
Expected term (in years)			4.5				4.5

Summary of Stock Option Activity

The following table summarizes award activity for stock options:

Stock Options		Shares (in thousands)				Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2021			3,596			$	15.02
Forfeited and expired			(740	)			20.02
Exercised			(294	)			9.83
Outstanding as of December 31, 2022			2,562			$	14.17				2.8			$	4
Exercisable at December 31, 2022			1,965			$	15.43				2.2			$	3

Summary of Status of Nonvested Shares of RSAs, RSUs and PSAs

The following table summarizes award activity for RSAs and RSUs:

RSAs / RSUs		Shares (in thousands)				Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 2021			741			$	10.79
Granted			1,152				9.89
Vested (1)			(188	)			13.05
Forfeited			(191	)			10.08
Nonvested as of December 31, 2022			1,514			$	9.91

(1)32 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.

The following table summarizes award activity for performance stock awards:

PSAs		Shares (in thousands)				Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 2021			669			$	13.35
Granted			351				11.08
Vested (1)			(21	)			22.13
Forfeited			(111	)			14.61
Nonvested as of December 31, 2022			888			$	12.09

(1)8 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.

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Tabular disclosure of share-based payment arrangement.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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