XML 50 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
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 (Loss) Income for the years ended December 31, 2023, 2022, and 2021:
(in millions) |  | 2023 |  |  | 2022 |  |  | 2021 |
Selling, general and administrative expense |  | $ | 14.8 |  |  | $ | 9.5 |  |  | $ | 15.2 |
Income (loss) before income tax |  |  | (14.8 | ) |  |  | (9.5 | ) |  |  | (15.2 | )
Income tax benefit |  |  | (3.4 | ) |  |  | (2.2 | ) |  |  | (3.6 | )
Net income (loss) |  | $ | (11.4 | ) |  | $ | (7.3 | ) |  | $ | (11.6 | )
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, 2023, 2022, and 2021 was as follows:
(in millions) |  | 2023 |  |  | 2022 |  |  | 2021 |
Stock option compensation expense |  | $ | 2.7 |  |  | $ | 3.7 |  |  | $ | 3.6 |
RSU compensation expense |  |  | 6.4 |  |  |  | 4.4 |  |  |  | 5.3 |
PSU compensation expense |  |  | 5.7 |  |  |  | 1.4 |  |  |  | 6.3 |
Total stock-based compensation expense |  | $ | 14.8 |  |  | $ | 9.5 |  |  | $ | 15.2 |
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,
|  | 2022 |  | 2021
Weighted average expected lives |  | 6.0 years |  | 6.0 years
Weighted average risk-free interest rate |  | 1.89 % |  | 0.93 %
Weighted average expected volatility |  | 41.7 % |  | 41.3 %
Expected dividend yield |  | 3.60 % |  | 3.07 %
Weighted average grant date fair value |  | $2.43 |  | $2.45
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, 2023 is presented below:
|  | Number Outstanding |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at December 31, 2022 |  |  | 6,728,615 |  |  | $ | 9.27 |  |  |  |  |
Forfeited |  |  | (103,389 | ) |  | $ | 9.70 |  |  |  |  |
Outstanding at December 31, 2023 |  |  | 6,625,226 |  |  | $ | 9.26 |  |  | 5.3 years |  | zero
Exercisable shares at December 31, 2023 |  |  | 5,015,909 |  |  | $ | 9.55 |  |  | 4.4 years |  | zero
Summary of Changes in RSUs Outstanding | A summary of the changes in the RSUs outstanding under the Plan during 2023 is presented below:
|  | Stock Units |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2022 |  |  | 2,016,120 |  |  | $ | 8.43 |
Granted |  |  | 1,969,191 |  |  | $ | 5.23 |
Vested and distributed |  |  | (536,132 | ) |  | $ | 8.26 |
Forfeited and cancelled |  |  | (4,729 | ) |  | $ | 8.46 |
Outstanding at December 31, 2023 |  |  | 3,444,450 |  |  | $ | 6.63 |
Vested and deferred at December 31, 2023(1) |  |  | 673,883 |  |  | $ | 8.65 |
(1) Included in outstanding at December 31, 2023. 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 2023 is presented below:
|  | Stock Units |  |  | Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2022 |  |  | 673,169 |  |  | $ | 8.42 |
Granted |  |  | 2,301,907 |  |  | $ | 5.39 |
Vested |  |  | (336,077 | ) |  | $ | 8.42 |
Other - decrease due to performance of PSUs |  |  | (867,309 | ) |  | $ | 4.34 |
Outstanding at December 31, 2023 |  |  | 1,771,690 |  |  | $ | 6.48 |

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 cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardOutstandingActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration