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Share-Based Compensation (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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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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