Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of information about share-based compensation expense

The following table summarizes information about share-based compensation expense for the years ended December 31, 2014, 2013 and 2012:

Share-based Compensation Expense	2014		2013		2012
Stock options	$	1.7	$	1.5	$	2.4
Restricted stock	3.2		2.9		5.3
Restricted stock units issued to Directors	1.1		1.0		0.9
Performance shares	2.9		4.1		6.0
Pre-tax share-based compensation expense	$	8.9	$	9.5	$	14.6

Schedule of weighted-average assumptions used in Black-Scholes option calculation

The Company’s estimate of fair value of options granted is calculated as of the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:

	2014			2013			2012
Expected volatility	58.3% – 68.2%			57.8% – 68.8%			63.2% – 73.2%
Weighted-average volatility	62.6		%	65.2		%	69.4		%
Expected term (in years)	3.0 – 6.5			2.9 – 6.4			2.8 – 6.3
Risk-free interest rate	0.9% – 2.3%			0.4% – 1.1%			0.3% – 1.2%
Dividend yield	—		%	—		%	2.2		%
Weighted-average grant-date fair value per share of options granted	$	3.50		$	2.44		$	4.31

Schedule of stock options activity

A summary of option activity for the year ended December 31, 2014, is presented below:

Stock Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2013	2,193,532		$	12.26
Granted	554,500		6.64
Exercised	(11,881	)	6.40
Canceled	(39,556	)	9.94
Outstanding at December 31, 2014	2,696,595		11.16		5.8	$	0.7
Exercisable at December 31, 2014	1,667,161		14.13		4.4	0.2
Unvested at December 31, 2014	1,029,434		6.35		8.1	0.5
Unvested at December 31, 2014 expected to vest	977,962		6.35		8.1	0.4

Schedule of nonvested restricted stock units activity

A summary of the activity for non-vested restricted stock awards for the year ended December 31, 2014, is presented below:

Restricted Stock Awards	Restricted Shares		Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2013	433,229		$	6.35
Granted	518,132		6.66
Vested/restrictions lapsed	(423,049	)	7.19
Canceled	(25,899	)	6.20
Outstanding at December 31, 2014	502,413		5.97

Schedule of weighted-average assumptions used in Monte Carlo simulation

The Company’s estimate of fair value of performance shares granted is calculated as of the date of grant using a Monte Carlo simulation model with the following weighted-average assumptions:

	2014			2013			2012
Company expected volatility	59.1		%	59.2		%	69.4		%
S&P’s MidCap 400 index expected volatility	32.4		%	34.7		%	42.2		%
Risk-free interest rate	0.9		%	0.4		%	0.4		%
Dividend yield	—		%	—		%	2.2		%
Weighted-average grant-date fair value per performance share granted	$	6.40		$	4.68		$	9.89

Schedule of nonvested performance-based units activity

A summary of the activity for non-vested performance share awards for the year ended December 31, 2014, is presented below:

Performance Share Awards	Performance Shares		Weighted- Average Grant Date Fair Value
Outstanding at December 31, 2013	1,052,773		$	7.23
Granted	512,400		6.40
Earned	—		—
Expired or forfeited	(586,221	)	9.30
Outstanding at December 31, 2014	978,952		5.56