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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Components of Share-Based Compensation Expense by Type of Award | The following table lists the components of share-based compensation expense by type of award.
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
Stock options |  | $ | 881 |  |  | $ | 678 |  |  | $ | 1,078 |
Restricted stock |  | 1,897 |  |  | 1,630 |  |  | 1,968 |
Performance share units |  | 1,155 |  |  | 2,076 |  |  | 2,450 |
Change in estimate of share-based award vesting (1) |  | (1,111 | ) |  | (1,968 | ) |  | — |
Share-based compensation expense |  | $ | 2,822 |  |  | $ | 2,416 |  |  | $ | 5,496 |
Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant and Stock Option Modification | The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in each year.
|  | 2019 |  | 2018 |  | 2017
Expected term |  | 6 years |  |  | 6 years |  |  | 6 years |
Average risk-free interest rate |  | 2.47 | % |  | 2.66 | % |  | 2.03 | %
Expected dividend yield |  | 3.53 | % |  | 1.15 | % |  | 1.16 | %
Expected volatility |  | 49.53 | % |  | 47.69 | % |  | 56.56 | %
Expected forfeiture rate |  | 4.00 | % |  | 4.00 | % |  | 3.00 | %
Reconciliation of Option Activity | The following table summarizes stock option activity for the year ended December 31, 2019.
|  | Number of Options (in thousands) |  | Weighted- Average Exercise Price (per share) |  | Weighted- Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value |  |
Outstanding at January 1, 2019 |  | 771 |  |  | $ | 15.17 |  |  |  |  |  |  |
Granted |  | 210 |  |  | 7.93 |  |  |  |  |  |  |
Exercised |  | (5 | ) |  | 4.42 |  |  |  |  | $ | 7 |  |  |
Forfeited or expired |  | (201 | ) |  | 11.96 |  |  |  |  |  |  |
Outstanding at December 31, 2019 |  | 775 |  |  | $ | 13.24 |  |  | 5.5 |  | $ | 291 |  |  | (1)
Exercisable at December 31, 2019 |  | 530 |  |  | $ | 14.23 |  |  | 4.0 |  | $ | 30 |  |  | (1)
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(1) | The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at December 31, 2019, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity | The following table summarizes unvested restricted stock award activity for the year ended December 31, 2019.
|  | Number of Unvested Restricted Shares (in thousands) |  | Weighted Average Grant Date Fair Value
Unvested at January 1, 2019 |  | 146 |  |  | $ | 22.07 |
Granted |  | 339 |  |  | 7.74 |
Vested |  | (172 | ) |  | 16.62 |
Forfeited |  | (91 | ) |  | 9.98 |
Unvested at December 31, 2019 |  | 222 |  |  | $ | 9.33 |
Schedule of Performance Based Awards Goals with Respect to TSR and ROIC | The following table presents the goals with respect to TSR Awards and ROIC Awards granted in 2019, 2018, and 2017.
TSR Awards: |  | Threshold Performance (50% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2019 grants |  | 35 |  | 50 |  | 75
2018 grants |  | 35 |  | 50 |  | 75
2017 grants |  | 35 |  | 50 |  | 75
ROIC Awards: |  | Threshold Performance (35% of Shares) |  | Target Performance (100% of Shares) |  | Maximum Performance (150% of Shares)
2019 grants |  | 4.7 | % |  | 5.8 | % |  | 7.0 | %
2018 grants |  | 15.5 | % |  | 18.0 | % |  | 19.5 | %
2017 grants |  | 15.0 | % |  | 17.5 | % |  | 20.0 | %
Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods | The following table presents the number of awards granted and the grant date fair value of each award in the periods presented.
|  | TSR Awards |  | ROIC Awards
Award Year |  | Number of Shares (in thousands) |  | Grant Date Fair Value (per share) |  | Number of Shares (in thousands) |  | Grant Date Fair Value (per share)
2019 |  | 136 |  |  | $ | 9.28 |  |  | 174 |  |  | $ | 7.93 |
2018 |  | 55 |  |  | $ | 24.65 |  |  | 55 |  |  | $ | 24.55 |
2017 |  | 46 |  |  | $ | 29.84 |  |  | 53 |  |  | $ | 24.20 |
Summary of Status of Unvested PSU Awards | The following table summarizes changes in unvested PSUs during the year ended December 31, 2019, and changes during the year then ended.
|  | Nonvested TSR Awards |  | Nonvested ROIC Awards
|  | Number of Shares (in thousands) |  | Weighted Average Grant Date Fair Value |  | Number of Shares (in thousands) |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2019 |  | 94 |  |  | $ | 26.84 |  |  | 100 |  |  | $ | 24.39 |
Granted |  | 136 |  |  | 9.28 |  |  | 174 |  |  | 7.93 |
Forfeited |  | (151 | ) |  | 16.54 |  |  | (179 | ) |  | 14.21 |
Expired |  | (14 | ) |  | 29.84 |  |  | (16 | ) |  | 24.20 |
Nonvested at December 31, 2019 |  | 65 |  |  | $ | 13.27 |  |  | 79 |  |  | $ | 11.50 |

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