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Share-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of information about share-based compensation expense Share-based compensation expense for the years ended December 31, 2018, 2017 and 2016, is presented below:
Share-based Compensation Expense
 
2018
 
2017
 
2016
Stock options
 
$
2.5

 
$
2.1

 
$
1.0

Restricted stock
 
3.1

 
2.9

 
1.6

Restricted stock units issued to Directors
 
1.2

 
1.2

 
1.3

Performance shares
 
2.0

 
1.5

 
1.5

Equity-based long-term performance plan
 
0.4

 
—

 
—

Pre-tax share-based compensation expense
 
$
9.2

 
$
7.7

 
$
5.4
Schedule of weighted-average assumptions used in Black-Scholes option calculation The following weighted-average assumptions are used in the Black-Scholes option pricing model to estimate the fair value of granted options as of the grant date:
 
 
2018
 
2017
 
2016
Expected volatility
 
58.8% – 61.6%
 
61.5% – 64.0%
 
90.3% – 91.5%
Weighted-average volatility
 
59.5%
 
62.5%
 
90.7%
Expected term (in years)
 
3.4 – 6.6
 
3.3 – 6.5
 
3.3 – 6.7
Risk-free interest rate
 
2.3% – 2.6%
 
1.6% – 2.2%
 
1.2% – 1.8%
Weighted-average grant-date fair value per share of granted options
 
$3.51
 
$5.33
 
$1.29
Schedule of stock options activity Option activity for the year ended December 31, 2018, is presented below:
Stock Options
 
Shares
 
Weighted- Average Exercise Price
 
Weighted- Average Remaining Contractual Life (in years)
 
Aggregate Intrinsic Value
Outstanding at December 31, 2017
 
2,994,206

 
$
7.69

 
 
 
 
Granted
 
842,000

 
6.56

 
 
 
 
Exercised
 
(201,700
)
 
3.82

 
 
 
 
Forfeited and expired
 
(230,644
)
 
18.56

 
 
 
 
Outstanding at December 31, 2018
 
3,403,862

 
6.90

 
6.1
 
$
0.3

 
 
 
 
 
 
 
 
 
Exercisable at December 31, 2018
 
2,046,546

 
7.07

 
4.7
 
0.2

 
 
 
 
 
 
 
 
 
Unvested at December 31, 2018
 
1,357,316

 
6.66

 
8.5
 
0.1

 
 
 
 
 
 
 
 
 
Unvested at December 31, 2018 expected to vest
 
1,289,450

 
6.66

 
8.5
 
0.1
Schedule of nonvested restricted stock units activity Non-vested restricted stock awards activity for the year ended December 31, 2018, is presented below:
Restricted Stock Awards
Restricted Shares
 
Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2017
518,184

 
$
5.38

Granted
521,100

 
6.56

Vested/restrictions lapsed
(513,848
)
 
5.48

Canceled
(18,733
)
 
6.16

Outstanding at December 31, 2018
506,703

 
6.45
Schedule of weighted-average assumptions used in Monte Carlo simulation The following weighted-average assumptions are used in a Monte Carlo simulation model to estimate the fair value of performance shares granted:
 
 
2018
 
2017
 
2016
Company expected volatility
 
67.3
%
 
68.0
%
 
60.8
%
VanEck Vectors Steel ETF expected volatility
 
52.2
%
 
48.9
%
 
NA

S&P’s MidCap 400 index expected volatility
 
NA

 
NA

 
27.6
%
Risk-free interest rate
 
2.2
%
 
1.5
%
 
1.1
%
Weighted-average grant-date fair value per performance share granted
 
$
8.05

 
$
10.78

 
$
1.74
Schedule of nonvested performance-based units activity Non-vested performance share awards activity for the year ended December 31, 2018, is presented below:
Performance Share Awards
Performance Shares
 
Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2017
718,668

 
$
5.04

Granted
366,500

 
8.05

Earned
(277,971
)
 
1.74

Expired or forfeited
(192,397
)
 
5.55

Outstanding at December 31, 2018
614,800

 
9.19