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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2013
Share-based Compensation [Abstract]  
Schedule of Stock-based Compensation Expense Recognized
Stock-based compensation expense recognized in the financial statements is as follows (in thousands):
 
 
 
 
 
 
 
 
 
 
Predecessor Company
 
 
Year Ended
December 31, 2013
 
Year Ended
December 31, 2012
 
Three Hundred
Forty-One
Days Ended
December 31, 2011
 
 
Twenty-Four
Days Ended
January 24, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
Amounts charged against income, before income tax benefit
$
5,807

 
$
4,055

 
$
3,810

 
 
$
5,499

 
Amount of related income tax benefit recognized in income
(2,326
)
 
(1,656
)
 
(1,552
)
 
 
(2,220
)
 
Total net income impact
$
3,481

 
$
2,399

 
$
2,258

 
 
$
3,279
Schedule of Stock Options Activity Under Long Term Incentive Plan
Stock option activity under the Long Term Incentive Plan is summarized as follows:
 
 
Options
Outstanding
 
Weighted Average
Exercise Price
Per Share
 
Weighted  Average Remaining Contractual Life (in years)
Outstanding at January 24, 2011 (Predecessor Company)
—

 
—

 
 
Granted (a)
991,012

 
$
24.29

 
 
Exercised
—

 
$
—

 
 
Forfeited
—

 
$
—

 
 
Expired
—

 
—

 
 
Outstanding at January 24, 2011 (Post-emergence entity)
991,012

 
24.29

 
 
Granted (a)
26,600

 
$
24.29

 
 
Exercised
—

 
—

 
 
Forfeited
(69,875
)
 
$
24.29

 
 
Expired
—

 
—

 
 
Outstanding at December 31, 2011
947,737

 
$
24.29

 
 
Granted (a)
347,880

 
$
4.82

 
 
Exercised
(14,212
)
 
4.51

 
 
Forfeited
(87,783
)
 
19.32

 
 
Expired
(63,793
)
 
23.96

 
 
Outstanding at December 31, 2012
1,129,829

 
$
18.95

 
 
Granted (a)
368,016

 
$
9.37

 
 
Exercised (b)
(18,750
)
 
$
4.63

 
 
Forfeited
(41,893
)
 
$
11.95

 
 
Expired
(38,079
)
 
$
22.29

 
 
Outstanding at December 31, 2013
1,399,123

 
$
16.74

 
7.6
 
 
 
 
 
 
Exercisable at December 31, 2013 (c)
823,012

 
$
19.57

 
6.9
Vested and Expected to Vest at December 31, 2013 (d)
1,399,123

 
$
16.74

 
7.6
(a)
During the years ended December 31, 2013 and December 31, 2012, the 341 days ended December 31, 2011 and the 24 days ended January 24, 2011, the weighted average grant date fair value of stock options granted was $1.5 million, $0.7 million, $0.1 million and $8.1 million, respectively. For purposes of determining compensation expense, the grant date fair value per share of the stock options was estimated using the Black-Scholes option pricing model which requires the use of various assumptions including the expected life of the option, expected dividend rate, expected volatility and risk-free interest rate. Key assumptions used for determining the fair value of stock options granted were as follows: 
 
 
 
 
 
 
 
 
 
 
Predecessor Company
 
 
Year Ended
December 31, 2013
 
Year Ended
December 31, 2012
 
Three Hundred
Forty-One
Days Ended
December 31, 2011
 
 
Twenty-Four
Days Ended
January 24, 2011
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected life (1)
5.5 - 6 years

 
5.75 - 6 years

 
10 years

 
 
5.75 years

 
Expected dividend (2)
—

 
—

 
—

 
 
—

 
Expected volatility (3)
45
%
 
45
%
 
45
%
 
 
45
%
 
Risk-free interest rate (4)
0.77% - 1.92%

 
0.82% - 1.21%

 
2.29% & 3.17%

 
 
2.37
%

(1)
The 5.5-year, 5.75-year and 6.00-year expected lives (estimated period of time outstanding) of stock options granted were estimated using the ‘Simplified Method' which utilizes the midpoint between the vesting date and the end of the contractual term. This method was utilized for the stock options due to the lack of historical exercise behavior of the Company's employees. The 10.00-year expected life of stock options granted during the 341 days ended December 31, 2011 was based on an expectation of the estimated period of time the Company believed the stock options granted to an employee during this time period would be outstanding upon an analysis of stock options' strike price.
(2)
For all stock options granted during 2011, 2012 and 2013, no dividends are expected to be paid over the contractual term of the stock options resulting in the use of a zero expected dividend rate. 
(3)
The expected volatility rate is based on the observed historical and implied volatilities of comparable companies, which were adjusted to account for the various differences between the comparable companies and the Company. 
(4)
The risk-free interest rate is specific to the date of grant. On the Effective Date, the risk-free interest rate was interpolated from the yields on the 5-year and 7-year United States Treasury bonds. For stock options granted after the Effective Date, the risk-free interest rate is based on the United States Treasury 10-year constant maturity market yield in effect at the time of the grant.
(b)
During the years ended December 31, 2013 and 2012, the total intrinsic value of stock options that were exercised was negligible.
(c)
Based upon a fair market value of the common stock as of December 31, 2013 of $11.31 per share, the stock options that are exercisable have an aggregate intrinsic value (equal to the value of in-the-money stock options above their respective exercise price) of $1.0 million.
(d)
Based upon a fair market value of the common stock as of December 31, 2013 of $11.31 per share, the stock options that have vested and are expected to vest have an aggregate intrinsic value (equal to the value of in-the-money stock options above their respective exercise price) of $2.5 million.
Restricted Stock Award Activity Under Long Term Incentive Plan
Restricted stock award activity under the Long Term Incentive Plan is summarized as follows:
 
 
Awards
Outstanding
 
Weighted Average
Grant Date Fair
Value Per Share
Non-vested at January 24, 2011 (Predecessor entity)
—

 
—

Granted (a)
547,792

 
$
18.53

Vested (b)
(187,044
)
 
18.53

Forfeited
—

 
—

Non-vested at January 24, 2011 (Post-emergence entity)
360,748

 
$
18.53

Granted (a)
13,800

 
$
11.52

Vested (b)
(4,900
)
 
17.87

Forfeited
(17,650
)
 
18.53

Non-vested at December 31, 2011
351,998

 
$
18.26

Granted (a)
30,000

 
$
5.51

Vested (b)
(116,202
)
 
$
18.26

Forfeited
(21,550
)
 
$
18.49

Non-vested at December 31, 2012
244,246

 
$
16.65

Granted (a)
184,610

 
$
9.46

Vested (b)
(157,318
)
 
$
15.24

Forfeited
(6,883
)
 
$
10.43

Non-vested at December 31, 2013
264,655

 
$
12.64

(a)
Except for the restricted stock awards granted on the Effective Date, the grant date fair value per share of the restricted stock awards under the Long Term Incentive Plan is calculated as the fair market value per share of the common stock on the date of grant. The grant date fair value per share of the restricted stock awarded on the Effective Date is equal to the fair value per share of the Company's common stock calculated in conjunction with fresh start accounting. During the year ended December 31, 2013, the year ended December 31, 2012, the 341 days ended December 31, 2011 and the 24 days ended January 24, 2011, the weighted average grant date fair value of restricted stock awards granted was $1.7 million, $0.2 million, $0.2 million and $10.2 million, respectively.
(b)
Based upon the respective grant date fair value, the aggregate fair value of restricted stock which vested during the year ended December 31, 2013, the year ended December 31, 2012, the 341 days ended December 31, 2011 and the 24 days ended January 24, 2011 was $2.4 million, $2.1 million, $0.1 million and $3.5 million, respectively.