Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of options issued

A summary of the Company’s outstanding options is presented below:

		Weighted
		Average
		Grant-Date
	Options	Fair Value
Options outstanding at December 31, 2018	18,091,793	$	1.85
Grants	886,115	$	8.83
Exercises	(984,585)	$	1.80
Forfeitures and adjustments	(253,579)	$	2.67
Options outstanding at December 31, 2019	17,739,744	$	2.19
Vested options outstanding at December 31, 2019	8,061,312	$	1.80

Schedule of assumptions used to estimate the fair value of the options

The significant assumptions used to estimate the fair value of the options as of the grant date were as follows:

Weighted Average Expected Life (years)		5.7
Weighted Average Risk-Free Interest Rate		2.9	%
Weighted Average Expected Volatility		20.0	%
Weighted Average Expected Dividend Yield		3.9	%
Weighted Average Share Price	$	21.62
Weighted Average Exercise Price	$	21.62

Schedule of unrecognized compensation expense

As of December 31, 2019, total unrecognized compensation expense related to unvested stock-based compensation arrangements and the expected recognition period are as follows (dollars in thousands):

	Cash-Settled		Equity-Settled
	PRSUs		PRSUs		Options
Total unrecognized compensation cost	$	383	$	31,283	$	4,068
Weighted-average recognition period		1.0 years		1.7 years		2.8 years

Equity-settled PRSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of equity-settled PRSUs issued

A summary of the Company’s outstanding equity-settled PRSUs is presented below:

		Weighted
		Average
	Equity-Settled	Grant-Date
	PRSUs	Fair Value
Equity-settled PRSUs outstanding at December 31, 2018	2,000,384	$	9.53
Grants	781,026	$	21.08
Vests	—	$	—
Performance adjustment	762,326	$	21.08
Forfeitures	(53,070)	$	13.48
Equity-settled PRSUs outstanding at December 31, 2019	3,490,666	$	14.59

Schedule of unrecognized compensation expense

The following table shows a summary of equity-settled PRSU activity during the year ended December 31, 2019 (in thousands):

	Successor
	Year Ended
	December 31,
	2019
Equity-settled PRSU compensation expense	$	25,392
Income tax benefit	$	(4,781)

Cash-settled PRSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of equity-settled PRSUs issued

A summary of the Company’s outstanding cash-settled PRSUs is presented below:

		Weighted
	Cash-Settled	Average
	PRSUs	Fair Value
Cash-settled PRSUs outstanding at December 31, 2018	522	$	34,221
Grants	—	$	—
Vests (1)	(507)	$	33,842
Forfeitures	—	$	—
Cash-settled PRSUs outstanding at December 31, 2019	15	$	94,997

(1) The total fair value of cash-settled PRSUs vested was $17.2 million for the year ended December 31, 2019.

Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of unrecognized compensation expense

The following table shows a summary options activity during the year ended December 31, 2019 (in thousands):

	Successor
	Year Ended
	December 31,
	2019
Options compensation expense	$	24,432
Income tax benefit	$	(8,556)