Share-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

We recognized the following employee share-based compensation expense during the first quarter of 2019 and 2018:



	Three Months Ended March 31,
(Dollars in millions)	2019		2018
Share-based compensation	$	8	$	13
Related tax benefit	—		—

During the first quarter of 2019, we granted 76 thousand restricted share units at a weighted average grant date fair value of $0.90 per share. As of March 31, 2019, there was $28 million of unrecognized compensation expense related to our unvested restricted share grants. This cost is expected to be recognized over a weighted average period of two years. As of March 31, 2019, there was $9 million of unrecognized compensation expense related to our performance share units. This cost is expected to be recognized over a weighted average period of less than two years.

As a result of our depressed share price we do not have sufficient shares available for issuance under our stock plans. Accordingly, we have converted our long-term incentive compensation program to a cash based program for 2019.