XML 58 R35.htm IDEA: XBRL DOCUMENT v3.24.2

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The components of the Company’s share-based compensation expense for the six months ended June 30, 2024 and 2023 are as follows:

			Six Months Ended June 30,
			2024						2023
			(in thousands)
Stock options			$	353					$	463
Restricted stock, restricted stock units and deferred stock units			3,501						3,223
Performance stock units			665						565
Employee Stock Purchase Plan			78						158
Total pre-tax share-based compensation expense charged against income			$	4,597					$	4,409

The following table summarizes the components of share-based compensation expense included within the Consolidated Statements of Comprehensive (Loss) Income for the six months ended June 30, 2024 and 2023:

			Six Months Ended June 30,
			2024						2023
			(in thousands)
Selling, general and administrative expense			$	4,572					$	4,363
Costs of services provided			25						46
Total share-based compensation expense			$	4,597					$	4,409

Schedule of Stock Options Outstanding

A summary of stock options outstanding under the Amended 2020 Plan and the 2012 Plan as of December 31, 2023 and changes during the six months ended June 30, 2024 are as follows:

			Stock Options Outstanding
			Number of Shares						Weighted Average Exercise Price
			(in thousands)
December 31, 2023			2,438						$	30.43
Granted			290						$	10.36
Exercised			—						$	—
Forfeited			(1)						$	24.43
Expired			(179)						$	28.45
June 30, 2024			2,548						$	28.29

Schedule of Assumption for Fair Value of Options Granted

The fair value of stock option awards granted during the six months ended June 30, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:

			Six Months Ended June 30,
			2024						2023
Risk-free interest rate			3.9		%				4.0		%
Weighted average expected life			7.0 years						6.9 years
Expected volatility			40.5		%				39.5		%
Dividend yield			—		%				—		%

Schedule of Other Information about Stock Options

The following table summarizes other information about the stock options at June 30, 2024:

			June 30, 2024
			(amounts in thousands, except per share data)
Outstanding:
Aggregate intrinsic value			$	64
Weighted average remaining contractual life			4.9 years
Exercisable:
Number of options			1,756
Weighted average exercise price			$	33.93
Aggregate intrinsic value			$	—
Weighted average remaining contractual life			3.4 years

Schedule of Outstanding Restricted Stock Units

A summary of the outstanding restricted stock units as of December 31, 2023 and changes during the six months ended June 30, 2024 is as follows:

			Restricted Stock Units
			Number						Weighted Average Grant Date Fair Value
			(in thousands)
December 31, 2023			1,102						$	18.57
Granted			770						$	10.38
Vested			(297)						$	21.68
Forfeited			(17)						$	14.17
June 30, 2024			1,558						$	13.97

Schedule of Outstanding Performance Stock Units

A summary of the outstanding PSUs as of December 31, 2023 and changes during the six months ended June 30, 2024 is as follows:

			Performance Stock Units
			Number						Weighted Average Grant Date Fair Value
			(in thousands)
December 31, 2023			175						$	21.52
Granted			118						$	11.85
Vested			—						$	—
Forfeited			(35)						$	34.52
June 30, 2024			258						$	15.31

Schedule of Options Granted Under Employee Stock Purchase Plan

The expense associated with the options granted under the ESPP during the six months ended June 30, 2024 and 2023 was estimated on the date of grant using the Black-Scholes option valuation model with the following assumptions:

			Six Months Ended June 30,
			2024						2023
Risk-free interest rate			4.8%						4.8%
Weighted average expected life (years)			1.0						1.0
Expected volatility			37.1%						42.9%
Dividend yield			—%						7.1%

Schedule of Supplemental Employee Retirement Plan

The following table summarizes information about the SERP during the six months ended June 30, 2024 and 2023:

			Six Months Ended June 30,
			2024						2023
			(in thousands)
SERP expense 1			$	355					$	298
Unrealized gain recorded in SERP liability account			$	5,350					$	3,871

1.Both the SERP match and the deferrals are included in the “Selling, general and administrative expense” caption within the Consolidated Statements of Comprehensive (Loss) Income.

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 710
-SubTopic 10
-Name Accounting Standards Codification
-Section 30
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483043/710-10-30-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 710
-SubTopic 10
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482943/710-10-55-8

+ Details

Name:	us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration