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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the impact of all stock-based compensation expense on our Consolidated Statements of Income for the years ended December 31, 2021, 2020 and 2019:

(in millions)			2021						2020						2019
Selling, general and administrative expense			$	15.2					$	6.5					$	10.1
Loss before income tax			(15.2)						(6.5)						(10.1)
Income tax benefit			(3.6)						(1.6)						(2.4)
Net loss			$	(11.6)					$	(4.9)					$	(7.7)

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

Stock-based compensation expense by award type for the years ended December 31, 2021, 2020 and 2019 was as follows:

(in millions)			2021						2020						2019
Stock option compensation expense			$	3.6					$	2.7					$	2.7
RSU compensation expense			5.3						5.2						5.1
PSU compensation expense			6.3						(1.4)						2.3
Total stock-based compensation expense			$	15.2					$	6.5					$	10.1

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model and the weighted average assumptions as outlined in the following table:

			Year Ended December 31,
			2021									2020									2019
Weighted average expected lives			6.0			years						6.0			years						4.6			years
Weighted average risk-free interest rate			0.93			%						0.81			%						2.49			%
Weighted average expected volatility			41.3			%						36.0			%						36.1			%
Expected dividend yield			3.07			%						3.16			%						2.65			%
Weighted average grant date fair value			$	2.45								$	2.03								$	2.40

Summary of Changes in Stock Options Outstanding

A summary of the changes in stock options outstanding under the Plan during the year ended December 31, 2021 is presented below:

			Number Outstanding						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term						Aggregate Intrinsic Value
Outstanding at December 31, 2020			4,962,885						$	9.40
Granted			1,550,797						$	8.42
Exercised			(469,055)						$	6.73
Forfeited			(184,060)						$	9.94
Outstanding at December 31, 2021			5,860,567						$	9.34					5.7 years						$	0.5	million
Exercisable shares at December 31, 2021			3,067,945						$	10.15					3.4 years						$	0.5	million

Summary of Changes in RSUs Outstanding

A summary of the changes in the RSUs outstanding under the Plan during 2021 is presented below:

			Stock Units						Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020			2,050,085						$	9.31
Granted			362,750						$	8.78
Vested and distributed			(335,380)						$	12.64
Vested and deferred distributed			(122,611)						$	9.32
Forfeited and cancelled			(47,953)						$	8.86
Outstanding at December 31, 2021			1,906,891						$	8.64
Vested and deferred at December 31, 2021(1)			491,242						$	8.70

(1)Included in outstanding at December 31, 2021. Vested and deferred RSUs are primarily related to deferred compensation for non-employee directors.

Summary of Changes in PSUs Outstanding

A summary of the changes in the PSUs outstanding under the Plan during 2021 is presented below:

			Stock Units						Weighted Average Grant Date Fair Value
Outstanding at December 31, 2020			—						$	—
Granted			1,667,012						$	8.42
Vested			—						$	—
Forfeited and cancelled			(14,550)						$	8.42
Other - decrease due to performance of PSUs			105,758						$	8.42
Outstanding at December 31, 2021			1,758,220						$	8.42

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