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Employee Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity summary of the activity with respect to RSAs and RSUs for the year ended December 31, 2019:
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
Outstanding at December 31, 2018
219,513

 
$
80.99

Granted
65,731

 
97.52

Vested
(78,712
)
 
89.22

Forfeited
(8,530
)
 
93.78

Outstanding at December 31, 2019
198,002

 
$
95.28
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
Inputs and assumptions used in the Monte Carlo simulations to calculate the fair value at grant date of our TSR-Based Performance Shares were as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Grant date fair value
$
134.72

 
$
127.41

 
$
97.88

Grant date stock price
$
108.79

 
$
101.66

 
$
79.69

Expected volatility of Kaiser Aluminum1
27.35
%
 
24.86
%
 
22.74
%
Expected volatility of peer companies1
39.08
%
 
44.74
%
 
44.19
%
Risk-free interest rate
2.51
%
 
2.37
%
 
1.54
%
Dividend yield
2.21
%
 
2.16
%
 
2.50
%
_____________________
1. 
Expected volatility based on 2.8 years of daily closing share prices from the valuation date to the end of the performance period.
Summary of activity of non-vested common shares, restricted stock units, and performance shares summary of the activity with respect to performance shares for the year ended December 31, 2019:
 
Shares
 
Weighted-Average
Grant-Date Fair
Value per Share
Outstanding at December 31, 2018
426,360

 
$
93.72

Granted 1
118,808

 
124.10

Vested
(77,606
)
 
87.87

Forfeited 1
(11,679
)
 
102.61

Canceled 1
(75,870
)
 
87.87

Outstanding at December 31, 2019
380,013

 
$
100.69

_____________________
1. 
The number of shares granted and forfeited are presented at their maximum payout; and the number of shares canceled includes the number of shares that did not vest due to performance results falling below those required for maximum payout.
Non-cash compensation expense
Non-Cash Compensation Expense. Non-cash compensation expense relating to all awards is included in SG&A and R&D. The following table presents non-cash compensation expense by type of award under LTI Programs for the periods presented (in millions of dollars):
 
Year Ended December 31,
 
2019
 
2018
 
2017
RSAs and RSUs
$
6.1

 
$
5.8

 
$
5.4

Performance shares
3.6

 
4.3

 
7.7

Total non-cash compensation expense
$
9.7

 
$
10.1

 
$
13.1
Unrecognized gross compensation cost data
Unrecognized Gross Compensation Cost Data. The following table presents unrecognized gross compensation cost data by type of award as of December 31, 2019:
 
Unrecognized Gross Compensation Costs (in millions of dollars)
 
Expected Period (in years) Over Which the Remaining Gross Compensation Costs Will Be Recognized
RSAs and RSUs
$
8.4

 
2.3
Performance shares
$
5.4

 
1.9
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The weighted-average grant-date fair value per share for shares granted by type of award was as follows for the periods presented:
 
Year Ended December 31,
 
2019
 
2018
 
2017
RSAs and RSUs
$
97.52

 
$
96.40

 
$
77.35

Performance shares
$
124.10

 
$
109.38

 
$
86.97