Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of information about share-based compensation expense

Share-based compensation expense for the years ended December 31, 2019, 2018 and 2017, is presented below:

Share-based Compensation Expense	2019		2018		2017
Stock options	$	2.5	$	2.5	$	2.1
Restricted stock	2.3		3.1		2.9
Restricted stock units issued to Directors	1.1		1.2		1.2
Performance shares	2.3		2.0		1.5
Equity-based long-term performance plan	1.0		0.4		—
Share-based compensation expense	$	9.2	$	9.2	$	7.7

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:

	2019	2018	2017
Expected volatility	63.6% – 65.3%	58.8% – 61.6%	61.5% – 64.0%
Weighted-average volatility	64.5%	59.5%	62.5%
Expected term (in years)	3.5 – 6.6	3.4 – 6.6	3.3 – 6.5
Risk-free interest rate	2.6% – 2.7%	2.3% – 2.6%	1.6% – 2.2%
Weighted-average grant-date fair value per share of granted options	$1.52	$3.51	$5.33

Schedule of stock options activity

Option activity for the year ended December 31, 2019, is presented below:

Stock Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2018	3,403,862		$	6.90
Granted	1,199,415		2.66
Exercised	(43,167	)	1.74
Forfeited and expired	(428,701	)	11.38
Outstanding at December 31, 2019	4,131,409		5.26		6.9	$	1.6
Exercisable at December 31, 2019	2,215,816		6.01		5.3	0.8
Unvested at December 31, 2019	1,915,593		4.39		8.4	0.7
Unvested at December 31, 2019 expected to vest	1,819,813		4.39		8.4	0.7

Schedule of nonvested restricted stock activity

Non-vested restricted stock awards activity for the year ended December 31, 2019, is presented below:

Restricted Stock Awards	Restricted Shares		Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2018	506,703		$	6.45
Granted	772,054		2.65
Vested/restrictions lapsed	(745,001	)	3.98
Canceled	(93,651	)	4.32
Outstanding at December 31, 2019	440,105		4.42

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:

	2019			2018			2017
Company expected volatility	62.3		%	67.3		%	68.0		%
VanEck Vectors Steel ETF expected volatility	45.3		%	52.2		%	48.9		%
Risk-free interest rate	2.6		%	2.2		%	1.5		%
Weighted-average grant-date fair value per performance share granted	$	3.09		$	8.05		$	10.78

Performance Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of nonvested performance shares activity

Non-vested performance share awards activity for the year ended December 31, 2019, is presented below:

Performance Share Awards	Performance Shares		Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2018	614,800		$	9.19
Granted	595,733		3.09
Earned	—		—
Expired or forfeited	(338,058	)	9.38
Outstanding at December 31, 2019	872,475		4.95

Long-term Performance Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of nonvested performance shares activity

Non-vested long-term performance plan share awards activity for the year ended December 31, 2019, is presented below:

Long-Term Performance Plan Share Awards	Long-Term Performance Plan Shares		Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2018	250,400		$	5.04
Granted	678,714		2.66
Expired or forfeited	(70,900	)	3.39
Outstanding at December 31, 2019	858,214		3.24