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Equity-Based Compensation
 9 Months Ended
Sep. 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 September 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 September 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 both three month periods ended September 30, 2020, and 2019, we recognized $3 million of equity-based compensation expense. For the nine month periods ended September 30, 2020, and 2019, we recognized $8 million and $9 million of equity-based compensation expense, respectively.The following table summarizes the activity of our RSAs, RSUs, and PSUs during the nine months ended September 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 $5.42 268,484 $4.32 
Converted(80,097)$14.63 — $— (4,787)$6.06 
Outstanding at September 30, 2020 (1)
1,492,799 $10.49 1,348,451 $5.85 268,769 $4.32 
__________
(1) As of September 30, 2020, no outstanding RSAs and PSUs were vested. As of September 30, 2020, 64,738 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 
Granted439,983 $11.06 447,527 $6.99 572 $12.42 
Converted (259,016)$15.69 — $— (9,611)$6.04 
Forfeited(61,332)$15.22 (73,694)$6.99 — $— 
Outstanding at September 30, 2019 (1)
1,003,703 $17.93 373,833 $6.99 5,585 $5.99 
__________
(1) As of September 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.