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Equity-Based Awards (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Weighted Average Assumptions Used to estimate Fair Value of Stock Options Granted

The fair value of the stock options granted was estimated at the date of grant using the Black-Scholes option pricing model. For further details on these assumptions, see Note 1. Summary of Business and Significant Accounting Policies. The following table summarizes the weighted-average assumptions used:

			Year Ended December 31,
			2020						2019						2018
Exercise price			$	8.24					$	21.37					$	22.89
Average risk-free interest rate			0.70		%				2.40		%				2.72		%
Expected life (in years)			6.00						6.11						6.11
Expected volatility			36.41		%				26.32		%				23.17		%
Dividend yield			5.11		%				2.62		%				2.46		%

Share-based Payments Activities

The following table summarizes the stock option award activities under our outstanding equity-based compensation plans and agreements for the year ended December 31, 2020:

									Weighted-Average
			Quantity						Exercise Price						Remaining Contractual Term (years)						Aggregate Intrinsic Value (in thousands) (1)
Outstanding at December 31, 2019			4,478,366						$	21.46					7.4						$	8,000
Granted			2,043,226						8.24
Exercised			(39,766)						6.12
Cancelled			(1,857,337)						22.86
Forfeited			(433,620)						16.96
Expired			(890,613)						20.26
Outstanding at December 31, 2020			3,300,256						$	13.59					7.9						$	7,401
Vested and exercisable at December 31, 2020			1,091,946						$	20.43					5.6						$	242

______________________

(1)Aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock options awards and the closing price of our common stock of $12.02 on December 31, 2020.

Restricted Stock Activities

The following table summarizes the activities for our RSUs for the year ended December 31, 2020:

			Quantity						Weighted-Average Grant Date Fair Value
Unvested at December 31, 2019			6,365,580						$	22.06
Granted			9,791,052						8.47
Vested			(2,320,243)						22.97
Cancelled			(295,024)						8.47
Forfeited			(1,231,719)						16.67
Unvested at December 31, 2020			12,309,646						$	12.07

Performance Stock Activities

The following table summarizes the activities for our PSUs for the year ended December 31, 2020:

			Quantity						Weighted-Average Grant Date Fair Value
Unvested at December 31, 2019			2,089,505						$	21.99
Granted			1,762,444						9.03
Vested			(667,460)						20.29
Forfeited			(337,694)						15.55
Unvested at December 31, 2020			2,846,795						$	14.18

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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

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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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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.

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