XML 38 R37.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Share-Based Compensation (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Unvested Restricted Stock Awards | The following table presents a summary of the Company’s unvested restricted stock awards.
| Number of Shares |  | Weighted- Average Grant Date Fair Value
| (In thousands) |  |
Unvested restricted shares outstanding at December 31, 2014 | 8,556 |  |  | $ | 6.39 |
Granted | 2,928 |  |  | $ | 0.88 |
Vested | (4,887 | ) |  | $ | 4.95 |
Forfeited / Canceled | (620 | ) |  | $ | 6.39 |
Unvested restricted shares outstanding at September 30, 2015 | 5,977 |  |  | $ | 4.87 |
Summary of Unvested Restricted Stock Units | The following table presents a summary of the Company’s unvested restricted stock units which may be settled in shares of the Company’s common stock, cash or some combination of common stock and cash at the Company’s election. These restricted stock units are liability-classified awards, which vest ratably over a maximum four-year period from the date of grant and were valued at September 30, 2015 based upon the Company’s period end common stock price.
| Number of Units |  | Fair Value per Unit at September 30, 2015
| (In thousands) |  |
Unvested units outstanding at December 31, 2014 | — |  |  |
Granted | 11,095 |  |  |
Vested(1) | (873 | ) |  |
Forfeited / Canceled | (646 | ) |  |
Unvested units outstanding at September 30, 2015 | 9,576 |  |  | $ | 0.27 |
____________________ (1) Restricted stock units which vested during the nine-month period ended September 30, 2015 were settled by the issuance of common stock. The following table presents a summary of the Company’s unvested restricted stock units which will be settled in cash at the end of each vesting period for an amount based on the Company’s common stock price as of the vesting date. These restricted stock units are liability-classified awards and vest over a two-year period (40% at the end of the first year and 60% at the end of the second year). The restricted stock units were valued based upon the Company’s period end common stock price, discounted using a credit spread (7.2% at September 30, 2015) that was determined based upon an analysis of the historical option adjusted spread for the Company’s outstanding senior notes and the outstanding long-term debt of comparable companies.
| Number of Units |  | Fair Value per Unit at September 30, 2015
| (In thousands) |  |  |  |
Unvested units outstanding at December 31, 2014 | — |  |  |  |  |
Granted | 3,104 |  |  |  |  |
Vested | — |  |  |  |  |
Forfeited / Canceled | (122 | ) |  |  |  |
Unvested units outstanding at September 30, 2015 | 2,982 |  |  | $ | 0.08 |  | – | $ | 0.23 |
Performance Units/Performance Share Units Fair Value Assumptions | The following table presents a summary of the fair values of the performance share units granted and the related assumptions for all outstanding performance share units at September 30, 2015.
| September 30, 2015
Expected price volatility range | 29.8 | % | - | 116.9 | %
Weighted-average risk-free interest rate |  |  | 0.7 | %
Weighted-average fair value per unit |  |  | $ | 0.08 |
The following table presents a summary of the fair values of the performance units granted during the years ended December 31, 2014 and 2013 and the related assumptions for all outstanding performance units at September 30, 2015 and December 31, 2014.
| September 30, 2015 |  | December 31, 2014
Expected price volatility range | 30.7 | % | - | 148.5 | % |  | 26.6 | % | - | 86.6 | %
Weighted-average risk-free interest rate |  |  | 0.2 | % |  |  |  | 0.5 | %
Weighted-average fair value per unit |  |  | $ | 0.17 |  |  |  |  | $ | 13.85 |
Performance Units/Performance Share Units Outstanding Activity | Performance unit activity for the nine-month period ended September 30, 2015 was as follows:
| Number of Performance Units
| (In thousands)
Outstanding at December 31, 2014 | 66 |
Granted | — |
Forfeited /canceled | — |
Outstanding at September 30, 2015 | 66 |
Performance period ending December 31, 2015 |
Vested | 22 |
Unvested | 6 |
Performance period ending December 31, 2016 |
Vested | 15 |
Unvested | 23 |
P erformance share unit activity for the nine-month period ended September 30, 2015 was as follows:
| Number of Performance Share Units
| (In thousands)
Outstanding at December 31, 2014 | — |
Granted | 2,044 |
Forfeited /canceled | (151 | )
Outstanding at September 30, 2015 | 1,893 |
Performance period ending December 31, 2017 |
Vested | 96 |
Unvested | 1,797 |

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 components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration