Share-Based Compensation

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

14. Share-Based Compensation

Share-based compensation expense is included in “Selling, general, and administrative” in the condensed consolidated statements of income (loss). Total share-based compensation expense for the three months ended March 31, 2021 and 2020 is as follows:

	Three Months Ended March 31,
	2021		2020
Cash-settled share-based compensation expense	$	4	$	—
Share-settled share-based compensation expense	5		2
	$	9	$	2

Cash-Settled Awards

The Company has granted restricted stock units (“RSUs”) and performance share units (“PSUs”) to certain key employees that are payable in cash. These awards are classified as liabilities, valued based on the fair value of the award at the grant date, and remeasured at each reporting date until settlement, with compensation expense being recognized in proportion to the complete requisite period up until date of settlement.

Share-Settled Awards

The following table reflects the status of all share-settled RSUs and PSUs for the three months ended March 31, 2021:

	Share-Settled RSUs			Share-Settled PSUs
	Units	Weighted Avg. Grant Date Fair Value		Units	Weighted Avg. Grant Date Fair Value
Nonvested balance at beginning of period	2,118,605	$	26.00	527,105	$	36.37
Granted	2,023,782	10.60		—	—
Vested	(654,878)	32.69		(57,794)	49.18
Forfeited	(54,096)	25.90		(125,158)	47.48
Nonvested balance at end of period	3,433,413	$	15.06	344,153	$	24.60