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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Share-Based Compensation (income) expense

The following table summarizes share-based compensation (income) expense:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in thousands)		2020				2019				2020				2019
Performance unit incentive plan (“PUP”)(1)		$	(110	)		$	1,557			$	(2,745	)		$	2,980
Restricted stock			602				783				1,252				1,476
Restricted stock units			365				71				205				161
Share-based compensation (income) expense before income tax			857				2,411				(1,288	)			4,617
Income tax expense (benefit)(2)			109				(607	)			—				(1,165	)
Share-based compensation (income) expense, net of income tax		$	966			$	1,804			$	(1,288	)		$	3,452

^{(1) PUP awards are liability-based awards that are tied to our stock price and the expected achievement of certain performance-based criteria. During the three and six months ended June 30, 2020, the value of the PUP awards decreased due to the reduction of our estimated performance achievement and the decline in our stock price as a result of COVID-19.}

^{(2) Income tax expense for the three months ended June 30, 2020 is due to the valuation allowance on our deferred tax assets recorded in the second quarter of 2020.}

Summary of Activity of the Outstanding Share-Based Compensation Awards

The following table summarizes the activity of the outstanding share-based compensation awards:

		PUP Awards								Restricted Stock								Restricted Stock Units
		Shares				Weighted-Average Grant Date Fair Value				Shares				Weighted-Average Grant Date Fair Value				Shares				Weighted-Average Grant Date Fair Value
Balance at December 31, 2019			214,904			$	52.53				136,123			$	52.66				11,623			$	52.17
Granted			84,898			$	56.15				49,847			$	54.45				3,952			$	50.43
Vested			(67,866	)		$	47.43				(64,429	)		$	49.83				(2,815	)		$	47.45
Forfeited			(18,370	)		$	56.40				(12,865	)		$	56.58				(1,634	)		$	56.59
Balance at June 30, 2020			213,566			$	55.26				108,676			$	54.69				11,126			$	52.10

Summary of Stock Option Activity

The following table summarizes stock option activity:

		Shares				Weighted-Average Exercise Price
Options outstanding and exercisable at December 31, 2019			41,143			$	16.62
Exercised			(41,143	)		$	16.62
Options outstanding and exercisable at June 30, 2020			—			$	—

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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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.

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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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