XML 44 R37.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Share-based Compensation [Abstract]  
Share-based Compensation Expense [Table Text Block]
Share-based compensation expense is generally recognized within "General and administrative" expense on the Consolidated Statements of Operations and is summarized in the table below. During the year ended December 31, 2019 and 2018, the Company recorded an additional $12.6 million and $11.0 million, respectively, of share-based compensation expense related to the acceleration of vesting that occurred as part of the restructuring program. Of this, $1.5 million and $2.2 million for the year ended December 31, 2019 and 2018, respectively, was recorded in "Net gain (loss) from asset sales, inclusive of restructuring costs" on the Consolidated Statements of Operations and the remaining $11.1 million and $8.8 million, respectively, is included in share-based compensation expense below. Refer to Note 9 – Restructuring for additional information.

 
Year Ended December 31,
 
2019
 
2018
 
2017
 
(in millions)
Stock options
$
0.4

 
$
1.2

 
$
2.3

Restricted share awards
20.4

 
27.5

 
24.6

Performance share units
4.3

 
8.1

 
(4.5
)
Restricted share units
0.3

 
0.1

 

Total share-based compensation expense
$
25.4

 
$
36.9

 
$
22.4


Schedule of calculated fair value of options granted and major assumptions used [Table Text Block]
The calculated fair value of options granted and major assumptions used in the model at the date of grant are listed below:
 
Stock Option Assumptions
 
Year Ended December 31,
 
2017
Weighted-average grant date fair value of awards granted during the period
$
6.44

Risk-free interest rate range
1.66% - 1.81%

Weighted-average risk-free interest rate
1.8
%
Expected price volatility range
43.82% - 46.70%

Weighted-average expected price volatility
43.9
%
Expected dividend yield
%
Expected term in years at the date of grant
4.5



Stock Options Activity [Table Text Block]
Stock option transactions under the terms of the LTSIP are summarized below:
 
Options Outstanding
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value
 
 
 
(per share)
 
(in years)
 
(in millions)
Outstanding at December 31, 2018
2,098,933

 
$
22.27

 
 
 
 
Exercised

 

 
 
 
 
Cancelled
(296,546
)
 
30.81

 
 
 
 
Outstanding at December 31, 2019
1,802,387

 
$
20.87

 
2.31
 
$

Options Exercisable at December 31, 2019
1,780,124

 
$
20.93

 
2.30
 
$

Unvested Options at December 31, 2019
22,263

 
$
15.68

 
4.20
 
$


Restricted Share Awards Activity [Table Text Block]
Transactions involving restricted share awards under the terms of the LTSIP and LTIP are summarized below:
 
Restricted Share Awards Outstanding
 
Weighted-Average Grant Date Fair Value
 
 
 
(per share)
Unvested balance at December 31, 2018
3,822,133

 
$
10.76

Granted
2,365,262

 
7.72

Vested
(3,093,883
)
 
10.49

Forfeited
(248,479
)
 
9.14

Unvested balance at December 31, 2019
2,845,033

 
$
8.67



Performance Share Units Activity [Table Text Block]
Transactions involving performance share units under the terms of the CIP are summarized below:
 
Performance Share Units Outstanding
 
Weighted-Average Grant Date Fair Value
 
 
 
(per share)
Unvested balance at December 31, 2018
1,559,312

 
$
11.47

Granted
759,506

 
7.93

Vested
(1,692,896
)
 
10.70

Unvested balance at December 31, 2019
625,922

 
$
9.04


Restricted Share Units Activity [Table Text Block]
Transactions involving restricted share units under the terms of the LTSIP are summarized below:
 
Restricted Share Units Outstanding
 
Weighted-Average Grant Date Fair Value
 
 
 
(per share)
Unvested balance at December 31, 2018
42,675

 
$
10.47

Granted
37,779

 
7.87

Vested and paid
(46,061
)
 
10.06

Unvested balance at December 31, 2019
34,393

 
$
8.16