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Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Components of Equity-Based Compensation The following table sets forth the components of our stock-based compensation and expected tax benefit for the years ended 2021, 2020 and 2019 related to the plans in effect during the respective year:
SuccessorPredecessor
Year ended December 31, 2021Year ended December 31, 2020Period from January 1 to December 31, 2019 (1)Period from January 1 to February 7, 2019 (1)
Stock-based compensation expense:
Restricted stock and restricted stock units $18.7 $3.1 $— $11.7 
Stock options3.0 23.0 — — 
Incentive units11.6 19.0 11.7 — 
Total compensation expense$33.3 $45.1 $11.7 $11.7 
Expected tax benefit:
Restricted stock and restricted stock units$3.4 $0.5 $— $— 
Stock options0.2 5.9 — — 
Total compensation expense$3.6 $6.4 $— $— 

(1)In connection with the Take-Private Transaction on February 8, 2019, all outstanding stock options and restricted stock units, whether vested or unvested, were cancelled and converted into the right to receive $145 in cash per share, less any applicable exercise price. As a result, an expense of $10.4 million was included in the Predecessor’s net earnings for the period from January 1, 2019 to February 7, 2019 in connection with the acceleration of the vesting of the outstanding grants. In addition, we recorded $56.3 million related to incentive units granted to certain investors for the Successor period from January 1 to December 31, 2019. See further discussion below.
Schedule of Grants during Period The following table summarizes the restricted stock, restricted stock units and stock options granted during the years ended December 31, 2021 and 2020:
DateNumber of shares grantedGrant date fair value per shareVesting period (in years)Vesting criteria
Restricted Stock & RSU's: (1)
August 12, 202075,378 $25.871.0Service
August 12, 2020220,335 $25.872.6Service
August 12, 2020205,546 $25.871.7Service
November 6, 2020184,672 $26.133.0Service
November 9, 20209,568 $25.883.0Service
December 1, 20207,400 $27.033.0Service
February 11, 202165,790 $22.802.4Service
March 10, 202167,021 $22.011.0Service
March 10, 2021 (2)2,203,390 $22.013.0Service & Performance
March 31, 202113,440 $23.813.0Service
June 30, 2021329,904 $21.373.0Service
August 4, 20216,607 $18.921.0Service
September 30, 2021 (2)224,886 $16.813.0Service & Performance
September 30, 2021116,004 $16.813.0Service
December 31, 202126,843 $20.492.9Service
Stock Options:
June 30, 2020 (3)4,160,000 $4.800.0N/A
June 30, 2020 (4)3,840,000 $5.193.0Service
(1)Employee awards generally vest ratably over three years and director awards vest 100% after one year.
(2)These awards are also subject to an annual performance target. Vesting of these awards are dependent on the satisfaction of the annual performance target.
(3)Awards were granted in connection with the IPO and fully vested at time of grant. See Note 19, "Related Parties" for further discussion.
(4)Awards vest ratably over three years in annual installments, commencing on the first anniversary of the grant date.
The following table sets forth the profits interest units granted subsequent to the Take-Private Transaction during the 2019 Successor period:
Units granted during quarter endedNumber of units grantedWeighted average exercise priceWeighted average fair value of underlying shareWeighted average fair value per unit
March 31, 201932,987.01 $10,329.70$10,000.00$2,449.59
June 30, 20191,726.51 $10,329.70$10,000.00$2,366.59
September 30, 201974.73 $10,329.70$10,000.00$2,198.20
December 31, 2019198.05 $10,329.70$10,000.00$2,140.61
Total34,986.30 $2,443.21
Schedule of Stock Option Activity
The following tables summarize the restricted stock, restricted stock units and stock options activity for the years ended December 31, 2021 and 2020:

Restricted stock & restricted stock units
Number of
shares		Weighted-average
grant date
fair value		Weighted average remaining contractual term (in years)Aggregate intrinsic value (in millions)
Balances, January 1, 2020— $—
Granted (1)702,899 $25.95
Forfeited— $—
Vested— $—
Balances, December 31, 2020702,899 $25.951.3$17.5
Granted3,053,885 $21.37
Forfeited(681,615)$23.03
Vested(317,330)$25.77
Balances, December 31, 20212,757,839 $21.611.2$56.5
(1)Included the conversion of 205,546 phantom units into restricted stock units
Stock options
Number of
options		Weighted-average
exercise price		Weighted average remaining contractual term (in years)Aggregate intrinsic value (in millions)
Balances, January 1, 2020— $—
Granted8,000,000 $22.00
Forfeited(350,000)$22.00
Vested— $—
Balances, December 31, 20207,650,000 $22.006.5$22.2
Granted— $0.00
Forfeited(1,270,000)$22.00
Vested— $—
Balances, December 31, 20216,380,000 $22.005.5$—
Expected to vest as of December 31, 20211,480,004 $22.005.5$—
Exercisable as of December 31, 20214,899,996 $22.005.5$—
Schedule of Fair Value Assumptions The assumptions for the Black-Scholes valuation model related to stock options granted during the year ended December 31, 2020 are set forth in the following table:
Weighted average assumptions 
Expected stock price volatility28 %
Expected dividend yield0.0 %
Expected life of option (in years)3.98
Risk-free interest rate0.23 %
Black Scholes value$4.99
Exercise price$22.00
The weighted average assumptions used to estimate fair value for grants made under the Successor equity-based award program are summarized as follows:
 Class B
units		Class C
units
Expected stock price volatility43.9 %43.9 %
Risk-free interest rate2.43 %2.40 %
Time to liquidity (in years)3.53.4
Expected dividend yield— — 
Fair value of units$3,480$3,332
Discount for lack of marketability27 %28 %
Adjusted fair value of units$2,540$2,443
Schedule of Restricted Stock and Common Stock Activity The following table summarizes the activities for common units and restricted shares for the years ended December 31, 2021 and 2020.
Number of
common units/restricted shares		Weighted-average
grant date
fair value		Weighted average remaining contractual term (in years)Aggregate intrinsic value (in millions)
Outstanding, June 30, 202015,055,564 $2.951.7$331.2
Distribution— $0.00
Forfeited(260,357)$2.90
Outstanding, December 31, 202014,795,207 $2.951.5$368.4
Distribution(10,635,652)$2.95
Forfeited(332,986)$2.89
Outstanding, December 31, 20213,826,569 $2.950.24$78.4
Expected to vest, December 31, 20213,826,569 $2.950.24$78.4