XML 28 R16.htm IDEA: XBRL DOCUMENT v3.22.1
Stock-based Compensation
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Stock-based Compensation STOCK-BASED COMPENSATION
During the three months ended March 31, 2022 and 2021, we recognized expenses of $5.3 million and $3.6 million, respectively, in stock-based compensation, which was allocated between costs of goods sold and selling, general and administrative expenses on the condensed consolidated statements of operations. We recognized tax benefits on stock-based compensation of $0.6 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively.
2022 Activity
A summary of award activity by type for the three months ended March 31, 2022 is presented below.
Stock OptionsAwards
(in millions)		Weighted-
Average
Exercise
Price		Aggregate
Intrinsic
Value
 (in millions)		Weighted
Average
Remaining
Contractual
Life (years)
Outstanding at January 1, 20221.4 $26.30 
Granted— $— 
Exercised— $— 
Forfeited / Expired— $— 
Outstanding at March 31, 20221.4 $26.30 
Vested and expected to vest at March 31, 20221.4 $26.30 $2.5 4.36
Exercisable at March 31, 20221.4 $26.30 $2.5 4.30
At March 31, 2022, there was an immaterial amount of unrecognized expense relating to unvested stock options that is expected to be amortized over the weighted average period of 0.2 years.
Restricted Stock UnitsUnits
(millions)		Weighted-Average
Fair Value
Outstanding at January 1, 20221.1 $28.85 
Granted0.6 $28.87 
Vested(0.4)$28.43 
Forfeited (1)
— $28.78 
Outstanding at March 31, 20221.3 $29.00 
(1)    Activity during the three months ended March 31, 2022 rounds to zero.
Tax shortfall expenses on the vesting of restricted stock awards and restricted stock units during the three months ended March 31, 2022 was $0.1 million.
At March 31, 2022, there was $25.7 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.7 years.
Performance Share UnitsUnits
(millions)		Weighted-Average
Fair Value
Outstanding at January 1, 20220.8 $30.10 
Granted0.4 $30.61 
Vested(0.1)$29.12 
Forfeited(0.2)$29.61 
Outstanding at March 31, 20220.9 $30.46 
Our performance share units allow for participants to vest in more or less than the targeted number of shares granted. Some of our performance share units are performing at the applicable target while others are currently performing below the applicable targets. We currently expect a total of 0.5 million shares with a weighted average fair value per share of $30.30 to vest at the respective vesting dates for such awards. At March 31, 2022, there is $14.4 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.7 years. The forfeitures include performance share units that vested below threshold payout.