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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary of information with respect to common stock option awards and performance share units The following table summarizes information with respect to common stock option awards outstanding as of December 31, 2022 and stock option activity during the fiscal year then ended:
Number of
Options
Weighted
Average
Exercise Price
Weighted Average Remaining Contractual Term (years)Aggregate
Intrinsic Value (millions)
Outstanding at December 31, 20212,087,505 $14.59 3.20.1 
Exercised(60,618)$6.03 
Expired(506,677)$14.23 
Outstanding and Exercisable at December 31, 20221,520,210 $15.06 2.70.2 
The Company granted the following PSUs during the years ended December 31, 2022, 2021 and 2020:
Number of PSUsWeighted Average Grant Date Fair Value per UnitGrant Date Fair Value
(Dollars in millions)
2022 grant(1)
154,860 $8.40 $1.3 
2021 grant(1)
177,176 $7.60 $1.3 
2020 grant(1)
228,248 $6.70 $1.5 
(1)The service period for the 2022, 2021, and 2020 PSUs ends on December 31, 2024, 2023 and 2022, and the awards will vest during the first quarter of 2025, 2024 and 2023, respectively. The service period for certain retiree eligible participants is accelerated.
Summary of information with respect to RSUs The Company granted the following RSUs during the years ended December 31, 2022, 2021 and 2020:
Number of RSUsWeighted Average Grant-Date Fair Value per UnitGrant Date Fair Value
(Dollars in millions)
2022 grants346,600 $7.62 $2.6 
2021 grants463,476 $6.72 $3.1 
2020 grants304,332 $6.04 $1.8 
The following table summarizes information with respect to RSUs outstanding as of December 31, 2022 and RSU activity during the fiscal year then ended:
Number of
RSUs
Weighted
Average Grant-
Date Fair Value per Unit
Nonvested at December 31, 2021568,018 $6.70 
Granted346,600 $7.62 
Vested(243,640)$6.96 
Nonvested at December 31, 2022670,978 $7.08 
Summary of information with respect to PSUs The following table summarizes information with respect to unearned PSUs outstanding as of December 31, 2022 and PSU activity during the fiscal year then ended:
Number of
PSUs
Weighted
Average Grant
Date Fair Value per Unit
Nonvested at December 31, 2021527,015 $8.38 
Granted154,860 $8.40 
Performance adjustments(1,101)$10.79 
Vested(182,028)$10.79 
Nonvested at December 31, 2022498,746 $7.21 
Schedule of unrecognized compensation cost
Below is a summary of the compensation expense, unrecognized compensation costs, the period for which the unrecognized compensation cost is expected to be recognized over for each award:
Years Ended December 31,
202220212020202220212020December 31, 2022
Compensation Expense(1)
Net of taxUnrecognized Compensation CostWeighted Average Remaining Recognition Period
(Dollars in millions)(Dollars in millions)(Years)
Equity Awards:
Stock Options$— $0.1 $0.3 $— $0.1 $0.3 $— — 
RSUs2.5 2.3 1.9 1.9 1.8 1.5 $0.4 1.7
PSUs3.9 3.4 1.5 3.0 2.6 1.2 $0.7 1.7
Total equity awards$6.4 $5.8 $3.7 $4.9 $4.5 $3.0 
Liability Awards:
Cash RSUs$2.1 $1.7 $0.8 $1.6 $1.3 $0.6 $1.6 1.8
Cash incentive award5.1 3.4 0.6 3.9 2.6 0.4 $2.0 1.6
Total liability awards$7.2 $5.1 $1.4 $5.5 $3.9 $1.0 
(1)Compensation expense is recognized by the Company in selling, general and administrative expenses on the Consolidated Statements of Income.