Stock-based Compensation and Outstanding Awards (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Significant Assumptions Used to Calculate the Grant Date Fair Market Values of Options Granted

The Black-Scholes framework uses the assumptions noted in the table below:

	December 31,
	2021
Valuation Assumptions:
Expected volatility		61.3	%
Risk-free interest rate		0.5	%
Expected dividends (per share)	$	—
Expected term (in years)		4.5

Summary of Stock Option Activity

The following table summarizes award activity for stock options:

Stock Options	Shares (in thousands)			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2022		2,562		$	14.17
Forfeited and expired		(408	)		19.31
Exercised		(142	)		10.98
Outstanding as of December 31, 2023		2,012		$	13.36		2.3	$	2
Exercisable at December 31, 2023		1,802		$	13.72		2.0	$	2

Summary of Status of Nonvested Shares of RSAs, RSUs and PSAs

The following table summarizes award activity for RSAs and RSUs:

RSAs / RSUs	Shares (in thousands)			Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 2022		1,514		$	9.91
Granted		740			12.56
Vested (1)		(273	)		9.87
Forfeited		(28	)		10.69
Nonvested as of December 31, 2023		1,953		$	10.91

(1)58 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.

The following table summarizes award activity for performance stock awards:

PSAs	Shares (in thousands)			Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 2022		888		$	12.09
Granted		283			15.52
Vested (1)		(113	)		11.18
Forfeited		(32	)		9.53
Nonvested as of December 31, 2023		1,026		$	13.22

(1)34 thousand shares were withheld and retired from the vesting of shares to employees to satisfy minimum tax withholding.