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Stock-based Compensation
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation STOCK-BASED COMPENSATIONDuring the three months ended March 31, 2021 and 2020, we recognized expenses of $3.6 million and $5.1 million, respectively, in stock-based compensation, which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $0.3 million and $0.2 million for the three months ended March 31, 2021 and 2020, respectively.
2021 Activity
A summary of award activity by type for the three months ended March 31, 2021 is presented below.
Stock OptionsAwards
(in millions)
Weighted-
Average
Exercise
Price
Aggregate
Intrinsic
Value
 (in millions)
Weighted
Average
Remaining
Contractual
Life (years)
Outstanding at January 1, 20212.5 $27.34 
Granted— $— 
Exercised(0.1)$22.76 
Forfeited / Expired (1)
— $29.88 
Outstanding at March 31, 20212.4 $27.40 
Vested and expected to vest at March 31, 20212.4 $27.40 $7.1 4.17
Exercisable at March 31, 20212.2 $27.46 $6.5 3.80
(1)    Activity during the three months ended March 31, 2021 rounds to zero.
Cash received by the Company upon exercise of options for the three months ended March 31, 2021 was $1.3 million. No excess tax benefits or shortfall expenses were recorded related to these exercises.
At March 31, 2021, there was $0.4 million of unrecognized expense relating to unvested stock options that is expected to be amortized over the weighted average period of 0.9 year.
Restricted Stock Awards and Restricted Stock Units (1)
Awards/Units
(millions)
Weighted-Average
Fair Value
Outstanding at January 1, 20211.0 $28.84 
Granted0.5 $28.54 
Vested(0.4)$28.84 
Forfeited (2)
— $29.35 
Outstanding at March 31, 20211.1 $28.69 
(1)    As of March 31, 2021, there are no restricted stock awards outstanding and only restricted stock units remain.
(2)    Activity during the three months ended March 31, 2021 rounds to zero.
Tax shortfall expenses on the vesting of restricted stock awards and restricted stock units during the three months ended March 31, 2021 was $0.1 million.
At March 31, 2021, there was $22.2 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.8 years.
Performance Stock Awards and Performance Share Units (1)
Awards/Units
(millions)
Weighted-Average
Fair Value
Outstanding at January 1, 20210.5 $31.07 
Granted0.4 $29.53 
Vested— $— 
Forfeited(0.1)$32.93 
Outstanding at March 31, 20210.8 $30.21 
(1)    As of March 31, 2021, there are no performance stock awards outstanding and only performance share units remain.
Our performance stock awards and performance share units allow for participants to vest in more or less than the targeted number of shares granted. All of our performance awards are currently performing below the applicable targets. We currently expect a total of 0.6 million shares with a weighted average fair value per share of $29.91 to vest. At March 31, 2021, there is $13.5 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.6 years. The forfeitures include performance stock awards and performance share units that vested below threshold payout.