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Equity-Based Compensation
 6 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Equity-Based Compensation Equity-Based Compensation         Our 2018 Omnibus Incentive Plan (the “Plan”), authorizes the grant of restricted stock awards (“RSAs”), restricted stock units (“RSUs”), Performance Stock Units (“PSUs”) non-qualified and incentive stock options, dividend equivalents, and other stock-based awards. A total of eight million shares of common stock has been authorized for issuance under the Plan and approximately five million shares of common stock were available for issuance as of June 30, 2020.         The RSAs and RSUs are time-based and are not subject to future performance targets. The RSAs generally vest over one to three years. The RSUs generally vest over one to two years, with certain RSUs vesting immediately upon grant. RSAs and RSUs are initially recorded at the market price of our common stock at the time of the grant. The PSUs are subject to performance-based vesting, where the ultimate award is based on the achievement of established performance targets, generally over two to three years. As of June 30, 2020, these performance targets relate to relative and absolute total shareholder returns, as defined, which are treated as market-based conditions. Accordingly, these market-based PSUs are recorded at the fair value of the award using a Monte Carlo simulation valuation model. RSAs, RSUs and PSUs are subject to accelerated vesting in the event of certain defined events. For the three months ended June 30, 2020, and 2019, we recognized $3 million and $4 million of equity-based compensation expense, respectively. For the six month periods ended June 30, 2020, and 2019, we recognized $5 million and $6 million of equity-based compensation expense, respectively.The following table summarizes the activity of our RSAs, RSUs, and PSUs during the six months ended June 30, 2020 and 2019:
RSAsPSUsRSUs
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Outstanding at January 1, 2020653,790  $20.30  368,969  $6.99  5,072  $6.05  
Granted919,106  $3.88  979,482  $5.42  240,269  $4.19  
Converted(67,637) $13.06  —  $—  (4,787) $6.06  
Outstanding at June 30, 2020 (1)
1,505,259  $10.60  1,348,451  $5.85  240,554  $4.19  
__________
(1) As of June 30, 2020, no outstanding RSAs and PSUs were vested. As of June 30, 2020, 36,523 outstanding RSUs were vested.
RSAsPSUsRSUs
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Number of
Shares
Weighted-Average
Grant Date
Fair Value
Outstanding at January 1, 2019884,068  $20.50  —  $—  14,624  $5.77  
Granted428,865  $11.04  447,527  $6.99  478  $12.49  
Converted (245,601) $15.37  —  $—  (9,611) $6.04  
Forfeited(51,540) $15.61  (73,694) $6.99  —  $—  
Outstanding at June 30, 2019 (1)
1,015,792  $17.99  373,833  $6.99  5,491  $5.89  
__________
(1) As of June 30, 2019, no outstanding RSAs, PSUs or RSUs were vested.

        RSAs are included in amounts for issued and outstanding common stock but are excluded in the computation of basic earnings (loss) per share.