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Common Stock Common Stock (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Share-based Payment Arrangement, Cost by Plan [Table Text Block] The impact of our stock-based compensation plans on our results of operations was $5.4 million and $17.4 million for the three and nine months ended September 30, 2020, respectively, and $5.9 million and $18.1 million for the three and nine months ended September 30, 2019, respectively.
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]
The following table presents the changes in non-vested time-based RSUs to all employees, including executive officers, for the nine months ended September 30, 2020:
SharesWeighted-Average
Grant Date
Fair Value per Share
Non-vested at December 31, 2019795,926 $45.51 
Granted1,151,273 12.00 
Vested(444,611)41.87 
Forfeited(300,841)22.87 
Non-vested at September 30, 20201,201,747 20.42 

The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented:
As of/Nine Months Ended September 30,
20202019
(in thousands, except per share data)
Total intrinsic value of time-based awards vested$6,124 $11,251 
Total intrinsic value of time-based awards non-vested14,896 22,673 
Market price per share as of September 3012.40 27.75 
Weighted-average grant date fair value per share12.00 40.38 
Restricted Stock Awards, Market-Based, Valuation assumptions [Table Text Block]
The Compensation Committee awarded a total of 368,077 market-based PSUs to our executive officers during the nine months ended September 30, 2020. In addition to continuous employment, the vesting of these PSUs is contingent on a combination of absolute stock performance and our total stockholder return ("TSR"), which is essentially our stock price change, including any dividends over a three-year period ending on December 31, 2022, as compared to the TSR of a group of peer companies over the same period. The PSUs will result in a payout between zero and 250 percent of the target PSUs awarded. The weighted-average grant date fair value per PSU granted was computed using the Monte Carlo pricing model using the following assumptions:
Nine Months Ended September 30,
20202019
Expected term of award (in years)33
Risk-free interest rate1.4%2.5%
Expected volatility46.6%41.4%
Weighted-average grant date fair value per share$33.52 $56.68 

The expected term of the awards was based on the requisite service period. The risk-free interest rate was based on the U.S. Treasury yields in effect at the time of grant and extrapolated to approximate the life of the award. The expected volatility was based on our historical volatility.
SRC Performance Stock Units. The terms of the SRC PSUs are substantially the same as those of the PDC PSUs, except that the SRC PSUs do not require continuous employment and the performance period associated with the awards of January 1, 2019 through December 31, 2021 predates the grant date. The fair value of the SRC PSU awards was determined on the grant date of January 13, 2020 using the Monte Carlo pricing model using the following assumptions:
Nine Months Ended September 30,
2020
Expected term of awards (in years)2
Risk-free interest rate1.6%
Expected volatility56.9%
Weighted-average grant date fair value per share$33.35 
Schedule of Nonvested Performance-based Units Activity [Table Text Block]
The following table presents the change in non-vested market-based awards, including SRC PSUs, during the nine months ended September 30, 2020:
SharesWeighted-Average
Grant Date
Fair Value per Share
Non-vested at December 31, 2019221,142 $61.61 
Granted 524,005 30.29 
Vested(10,196)12.44 
Forfeited(89,597)46.43 
Non-vested at September 30, 2020645,354 39.06 

The following table presents the weighted-average grant date fair value per share and related information as of/for the periods presented:
As of/Nine Months Ended September 30,
20202019
(in thousands, except per share data)
Total intrinsic value of market-based awards non-vested$7,999 $6,719 
Market price per common share as of September 30,12.40 27.75 
Weighted-average grant date fair value per share30.29 56.68 
Share-based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block]
The SARs vest ratably over a three-year period and may generally be exercised at any point after vesting through ten years from the date of issuance. Pursuant to the terms of the awards, upon exercise, the executive officers will receive, in shares of common stock, the excess of the market price of the award on the date of exercise over the market price of the award on the date of issuance. The following table presents the change in SARs during the nine months ended September 30, 2020:
SharesWeighted-Average
Grant Date
Fair Value per Share
Outstanding at December 31, 2019290,258 $46.64 
Exercised(7,807)24.44 
Expired(71,776)40.83 
Outstanding at September 30, 2020210,675 49.45 
All outstanding SARs as of September 30, 2020 have vested and the related compensation cost has been fully recognized.