Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

19.   Stock Compensation

Holdings has established the stockholder-approved 2014 Omnibus Incentive Plan, as amended (the “Omnibus Plan”) to grant cash and equity awards to certain individuals. Compensation values are based on the value of Holdings’ Common Stock on the grant date, which is added to equity and charged to period expense. The Company’s Omnibus Plan was amended in October 2019 to allow for participants to make tax elections with respect to their equity awards.

Holdings has recognized a net total of $26.8, $36.6, and $25.8 of stock compensation expense for the twelve months ended December 31, 2023, 2022, and 2021, respectively.

As part of the separation agreement with the former President and Chief Executive Officer of the Company, the requirement to be employed by the Company through the applicable vesting date was waived for 91,978 previously issued time- based restricted stock units. This modification resulted in a decrease of $1.0 of stock compensation expense due to the decrease in the fair value of the modified awards.

22,594 and 93,565 shares of Common Stock with aggregate grant date fair value of $0.6 and $3.0 were granted, and vested immediately, to employees in connection with the ratification of new labor contracts during the twelve months ended December 31, 2023 and 2022, respectively.

Short-Term Incentive Plan

The Short-Term Incentive Program under the Omnibus Plan enables eligible employees to receive incentive benefits in the form of cash as determined by the Compensation Committee.

Board of Directors Stock Awards

The Company’s Omnibus Plan provides non-employee directors the opportunity to receive grants of restricted shares of Common Stock, or Restricted Stock Units (“RSUs”) or a combination of both Common Stock and RSUs. The Common Stock grants and RSU grants vest one year from the grant date subject to the director's compliance with the one-year service condition; however, the RSU grants are not payable until the director’s separation from service. The Board of Directors is authorized to make discretionary grants of shares or RSUs from time to time. Compensation values are based on the value of Holdings’ Common Stock on the grant date, which is added to equity and charged to period expense.

The Company expensed a net amount of $2.0, $1.6, and $1.5 for the restricted shares of Common Stock and RSUs for the twelve months ended December 31, 2023, 2022, and 2021, respectively. As of December 31, 2023, the Company’s unamortized stock compensation related to these restricted shares of Common Stock and RSUs is $0.7, which will be recognized over a weighted average remaining period of 4 months. The intrinsic value of the unvested restricted shares of Common Stock and RSUs, based on the value of the Company’s stock at December 31, 2023, was $2.6, based on the value of the Company’s Common Stock and the number of unvested shares of restricted Common Stock and RSUs.

	Shares	Value(1)
	Class A	Class A
	(Thousands)
Board of Directors Stock Grants
Nonvested at December 31, 2020	65	$	1.2
Granted during period	36	1.6
Vested during period	(65)	(1.2)
Forfeited during period	—	—
Nonvested at December 31, 2021	36	$	1.6
Granted during period	68	2.2
Vested during period	(41)	(1.8)
Forfeited during period	—	—
Nonvested at December 31, 2022	63	$	2.0
Granted during period	81	2.0
Vested during period	(63)	(2.0)
Forfeited during period	—	—
Nonvested at December 31, 2023	81	$	2.0

(1)Value represents grant date fair value.

	Shares	Value(1)
	Common Stock	Common Stock
	(Thousands)
Long-Term Incentive Plan/Long-Term Incentive Award under Omnibus Plan
Nonvested at December 31, 2020	1,479	$	80.5
Granted during period	763	36.7
Vested during period	(305)	(20.6)
Forfeited during period	(535)	(27.7)
Nonvested at December 31, 2021	1,402	$	68.9
Granted during period	839	46.0
Vested during period	(396)	(20.6)
Forfeited during period	(142)	(11.6)
Nonvested at December 31, 2022	1,703	$	82.7
Granted during period	1,694	49.7
Vested during period	(494)	(23.8)
Forfeited during period	(824)	(38.6)
Nonvested at December 31, 2023	2,079	$	70.0

(1)Value represents grant date fair value.