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Stock-based Compensation
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation STOCK-BASED COMPENSATIONDuring the three and six months ended June 30, 2022 and 2021, we recognized expenses of $3.7 million, $9.0 million, $4.2 million and $7.8 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 $0.4 million, $1.0 million, $0.9 million and $1.2 million for the three and six months ended June 30, 2022 and 2021, respectively.
2022 Activity
A summary of award activity by type for the six months ended June 30, 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 (1)
— $7.21 
Forfeited / Expired— $— 
Outstanding at June 30, 20221.4 $26.33 
Vested and expected to vest at March 31, 20221.4 $26.33 $1.9 4.12
Exercisable at June 30, 20221.4 $26.33 $1.9 4.12
(1)    Activity during the six months ended June 30, 2022 rounds to zero.
At June 30, 2022, there was no unrecognized expense relating to unvested stock options.
Restricted Stock UnitsUnits
(millions)
Weighted Average
Fair Value
Outstanding at January 1, 20221.1 $28.85 
Granted0.7 $28.71 
Vested(0.5)$28.63 
Forfeited(0.1)$28.87 
Outstanding at June 30, 20221.2 $28.87 
Tax shortfall expenses on the vesting of restricted stock units during the six months ended June 30, 2022 was $0.1 million.
At June 30, 2022, there was $21.2 million of unamortized expense relating to unvested restricted stock units that is expected to be amortized over a weighted average period of 1.6 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)$29.65 
Outstanding at June 30, 20220.9 $30.47 
Our performance share units allow for participants to vest in more or less than the targeted number of shares granted. Our performance share units are performing below the applicable targets. We currently expect a total of 0.2 million shares with a weighted average fair value per share of $30.33 to vest at the respective vesting dates for such awards. At June 30, 2022, there is $5.2 million of unamortized expense relating to unvested performance share units that is expected to be amortized over a weighted average period of 2.5 years. The forfeitures include performance share units that vested below threshold payout.