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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Summary of information with respect to common stock option awards and performance share units | The Company granted the following stock options during the years ended December 31, 2019 and 2018, with an exercise price equal to the closing price of our common stock on the date of grant:
|  |  | Weighted Average Per Share
| Number of Shares |  | Exercise Price |  | Weighted Average Grant Date Fair Value
Traditional stock options: |  |  |  |  |
2019 grant | 267,897 |  |  | $ | 9.87 |  |  | $ | 4.09 |
2018 grant | 78,447 |  |  | $ | 10.49 |  |  | $ | 5.38 |
The following table summarizes information with respect to common stock option awards outstanding as of December 31, 2020 and stock option activity during the fiscal year then ended:
| Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (millions)
Outstanding at December 31, 2019 | 3,136,831 |  |  | $ | 15.02 |  |  | 4.3 |  | $ | 0.3 |
Exercised | (2,825) |  |  | $ | 3.80 |  |  |  |  |
Forfeited | (33,146) |  |  | $ | 12.25 |  |  |  |  |
Outstanding at December 31, 2020 | 3,100,860 |  |  | $ | 15.02 |  |  | 3.2 |  | $ | 0.1 |
Exercisable at December 31, 2020 | 2,733,205 |  |  | $ | 15.69 |  |  | 2.4 |  | $ | 0.1 |
Expected to vest at December 31, 2020 | 367,655 |  |  | $ | 10.01 |  |  | 7.8 |  | $ | — |
The Company grants performance share units ("PSUs"), which represent the right to receive shares of the Company's common stock, contingent upon the attainment of Company performance and market goals and continued employment. The Company granted the following PSUs during the years ended December 31, 2020, 2019 and 2018:
| Number of PSUs |  | Fair Value per Unit |  | Grant Date Fair Value
|  |  |  |  | (Dollars in millions)
2020 grant(1) | 228,248 |  |  | $ | 6.70 |  |  | $ | 1.5 |
2019 grant(1) | 227,378 |  |  | $ | 10.79 |  |  | $ | 2.5 |
2018 grant(1) | 96,389 |  |  | $ | 11.36 |  |  | $ | 1.1 |
(1)The service period for the 2020, 2019, and 2018 PSUs ends on December 31, 2022, 2021 and 2020, and the awards will vest during the first quarter of 2023, 2022 and 2021, respectively.
Weighted-average assumptions | The weighted-average fair value of employee stock options granted during the years ended December 31, 2019 and 2018 was based on using the following weighted-average assumptions:
|  | 2019 |  | 2018
Risk free interest rate |  | 2 | % |  | 3 | %
Expected term |  | 6 years |  | 6 years
Volatility |  | 53 | % |  | 52 | %
Dividend yield |  | 2 | % |  | — | %
Summary of information with respect to RSUs | The Company granted the following restricted stock units ("RSUs") during the years ended December 31, 2020, 2019 and 2018:
| Number of RSUs |  | Weighted Average Grant-Date Fair Value per Unit |  | Grant Date Fair Value
|  |  |  |  | (Dollars in millions)
2020 grants | 304,332 |  |  | $ | 6.04 |  |  | $ | 1.8 |
2019 grants | 136,425 |  |  | $ | 9.87 |  |  | $ | 1.3 |
2018 grants | 32,128 |  |  | $ | 10.49 |  |  | $ | 0.3 |
The following table summarizes information with respect to RSUs outstanding as of December 31, 2020 and RSU activity during the fiscal year then ended:
| Number of RSUs |  | Weighted Average Grant- Date Fair Value per Unit
Nonvested at December 31, 2019 | 165,384 |  |  | $ | 9.95 |
Granted | 304,332 |  |  | $ | 6.04 |
Vested | (63,729) |  |  | $ | 9.97 |
Forfeited | — |  |  | $ | — |
Nonvested at December 31, 2020 | 405,987 |  |  | $ | 7.02 |
Summary of information with respect to PSUs | The following table summarizes information with respect to unearned PSUs outstanding as of December 31, 2020 and PSU activity during the fiscal year then ended:
| Number of PSUs |  | Weighted Average Grant- Date Fair Value per Unit
Nonvested at December 31, 2019 | 575,363 |  |  | $ | 11.20 |
Granted | 228,248 |  |  | $ | 6.70 |
Vested | (92,992) |  |  | $ | 11.40 |
Forfeited | (25,316) |  |  | $ | 11.40 |
Nonvested at December 31, 2020 | 685,303 |  |  | $ | 9.76 |
Schedule of unrecognized compensation cost | Below is a summary of the compensation expense, unrecognized compensation costs, the period for which the unrecognized compensation cost is expected to be recognized over and the estimated forfeiture rate for each award:
| Years Ended December 31, |  |  |  |
| 2020 |  | 2019 |  | 2018 |  | 2020 |  | 2019 |  | 2018 |  | December 31, 2020
| Compensation Expense(1) |  | Net of tax |  | Unrecognized Compensation Cost |  | Recognition Period
| (Dollars in millions) |  | (Dollars in millions) |  | (Years)
Equity Awards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock Options | $ | 0.3 |  |  | $ | 1.1 |  |  | $ | 0.5 |  |  | $ | 0.3 |  |  | $ | 0.9 |  |  | $ | 0.4 |  |  | $ | 0.1 |  |  | 1.1
RSUs | 1.9 |  |  | 1.0 |  |  | 0.4 |  |  | 1.5 |  |  | 0.9 |  |  | 0.3 |  |  | $ | 0.5 |  |  | 1.9
PSUs | 1.5 |  |  | 2.2 |  |  | 1.9 |  |  | 1.2 |  |  | 1.8 |  |  | 1.7 |  |  | $ | 1.5 |  |  | 1.5
Total equity awards | $ | 3.7 |  |  | $ | 4.3 |  |  | $ | 2.8 |  |  | $ | 3.0 |  |  | $ | 3.6 |  |  | $ | 2.4 |  |  |  |  |
Liability Awards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash RSUs | $ | 0.8 |  |  | $ | 0.9 |  |  | $ | 0.8 |  |  | $ | 0.6 |  |  | $ | 0.7 |  |  | $ | 0.6 |  |  | $ | 0.6 |  |  | 1.9
Cash incentive award | 0.6 |  |  | 0.4 |  |  | 0.9 |  |  | 0.4 |  |  | 0.3 |  |  | 0.7 |  |  | $ | 1.2 |  |  | 1.9
Total liability awards | $ | 1.4 |  |  | $ | 1.3 |  |  | $ | 1.7 |  |  | $ | 1.0 |  |  | $ | 1.0 |  |  | $ | 1.3 |  |  |  |  |
(1)Compensation expense is recognized by the Company in selling, general and administrative expenses on the Consolidated Statements of Operations.

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