Share-Based Compensation

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

14. Share-Based Compensation

Share-based compensation expense is included in selling, general, and administrative expenses in the condensed consolidated statements of income (loss). Total share-based compensation expense (benefit) for the three and nine months ended September 30, 2020 and 2019 is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cash-settled share-based compensation expense (benefit)	$	—	$	—	$	1	$	—
Share-settled share-based compensation expense (benefit)	4		7		13		20
	$	4	$	7	$	14	$	20

Cash-Settled Awards

The Company has granted restricted stock units ("RSUs") to certain key employees that are payable in cash. These awards are classified as liabilities, valued based on the fair value of the award at the grant date, and remeasured at each reporting date until settlement, with compensation expense being recognized in proportion to the completed requisite period up until date of settlement.

At September 30, 2020, approximately $4 million of total unrecognized compensation costs is expected to be recognized on the cash-settled RSU's over a weighted average period of approximately 2 years.

Share-Settled Awards

The Company has granted restricted stock, RSUs, and performance share units ("PSUs") to its directors and certain key employees that are payable in common stock. These awards are settled in shares upon vesting and recognized in equity based on their fair value.

The following table reflects the status of all nonvested restricted shares, share-settled RSUs, and PSUs for the nine months ended September 30, 2020:


	Restricted Stock			Share-Settled RSUs			PSUs
	Shares	Weighted Avg. Grant Date Fair Value		Units	Weighted Avg. Grant Date Fair Value		Units	Weighted Avg. Grant Date Fair Value
Nonvested balance at beginning of period	35,630	$	63.27	1,125,346	$	37.91	806,233	$	34.12
Granted	174,347	9.10		1,511,628	7.86		6,654	12.26
Vested	(205,822)	40.64		(447,292)	41.39		—	—
Forfeited	(1,781)	58.01		(371,271)	35.11		(275,514)	28.75
Nonvested balance at end of period	2,374	$	61.36	1,818,411	$	28.49	537,373	$	36.33

At September 30, 2020, approximately $21 million of total unrecognized compensation costs is expected to be recognized on the share-settled awards over a weighted average period of approximately 2 years.