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Long-term Incentive Compensation (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Stock-Based Compensation Costs
The Company recognized the following amounts in total employee stock-based compensation costs for the three months ended March 31, 2021 and 2020:
For the three months ended March 31,
(in millions)20212020
Stock-based compensation cost – expensed$13 $— 
Stock-based compensation cost – capitalized5 — 
Schedule of Equity-Classified Stock-Based Compensation Costs
The Company recognized the following amounts in employee equity-classified stock-based compensation costs for the three months ended March 31, 2021 and 2020:
For the three months ended March 31,
(in millions)20212020
Equity-classified awards – expensed$ $
Equity-classified awards – capitalized — 
Summary of Equity-Classified Stock Option Activity
The following table summarizes equity-classified stock option activity for the three months ended March 31, 2021 and provides information for options outstanding and options exercisable as of March 31, 2021:
Number
of Options
Weighted Average
Exercise Price
(in thousands) 
Outstanding at December 31, 20203,850 $13.39 
Granted— $— 
Exercised— $— 
Forfeited or expired(61)$10.93 
Outstanding at March 31, 20213,789 $13.43 
Exercisable at March 31, 20213,789 $13.43 
Summary of Equity-Classified Restricted Stock Activity
The following table summarizes equity-classified restricted stock activity for the three months ended March 31, 2021 and provides information for unvested shares as of March 31, 2021:
Number
of Shares
Weighted Average
Fair Value
(in thousands) 
Unvested shares at December 31, 2020697 $5.97 
Granted10 $2.98 
Vested(451)$7.61 
Forfeited— $8.59 
Unvested shares at March 31, 2021256 $2.94 
Summary of Equity-Classified Performance Units Activity The following table summarizes equity-classified performance unit activity for the three months ended March 31, 2021 and provides information for unvested units as of March 31, 2021. 
Number
of Shares
Weighted Average
Fair Value
(in thousands)
Unvested units at December 31, 2020134 $3.05 
Granted— — 
Vested(45)3.05 
Forfeited— — 
Unvested Units at March 31, 202189 3.05 
Schedule of Liability-Classified Stock-Based Compensation Costs
The Company recognized the following amounts in employee liability-classified stock-based compensation costs for the three months ended March 31, 2021:
For the three months ended March 31,
(in millions)20212020
Liability-classified stock-based compensation cost – expensed$13 $(1)
Liability-classified stock-based compensation cost – capitalized5 — 
Summary of Liability-Classified Restricted Stock Unit Activity As of March 31, 2021, there was $32 million of total unrecognized compensation cost related to liability-classified restricted stock units that is expected to be recognized over a weighted-average period of 2.2 years. The amount of unrecognized compensation cost for liability-classified awards will fluctuate over time as they are marked to market.
Number
of Units
Weighted Average
Fair Value
(in thousands) 
Unvested units at December 31, 202011,613 $2.67 
Granted1,486 $4.23 
Vested(4,522)$3.40 
Forfeited(416)$4.31 
Unvested units at March 31, 20218,161 $4.07 
Summary of Liability-Classified Performance Unit Activity
Number
of Units
Weighted Average
Fair Value
(in thousands) 
Unvested units at December 31, 20208,699 $2.57 
Granted3,580 $4.14 
Vested(2,020)$4.05 
Forfeited(622)$2.98 
Unvested units at March 31, 20219,637 $2.88 
Summary of Liability-Classified Performance Unit Activity
Number
of Units
Weighted Average Fair Value
(in thousands)
Unvested units at December 31, 202018,353 $1.00 
Granted18,546 $1.00 
Vested(4,319)$1.00 
Forfeited(1,615)$1.00 
Unvested units at March 31, 202130,965 $1.00