STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
| Share-based Payment Arrangement [Abstract] |
|
| Stock-based compensation expense |
Stock-based compensation expense was as follows: | | | | | | | | | | | | | | Years ended December 31, | | 2019 | | 2018 | | 2017 | | ($ in millions) | Stock-based compensation | $ | 9.4 |
| | $ | 19.3 |
| | $ | 19.1 |
| Mark-to-market adjustments | (1.8 | ) | | (10.7 | ) | | 4.5 |
| Total expense | $ | 7.6 |
| | $ | 8.6 |
| | $ | 23.6 |
|
|
| Stock Options Activity |
Stock option transactions were as follows: | | | | | | | | | | | | | | | | | | | | | | | | Exercisable | | Shares | | Option Price | | Weighted-Average Option Price | | Options | | Weighted-Average Exercise Price | Outstanding at January 1, 2019 | 5,864,216 |
| | $13.14-32.94 | | $ | 24.40 |
| | 3,571,732 |
| | $ | 22.27 |
| Granted | 1,578,200 |
| | 26.26-26.26 | | 26.26 |
| | | | | Exercised | (135,731 | ) | | 13.14-15.68 | | 14.10 |
| | | | | Canceled | (96,134 | ) | | 13.14-32.94 | | 28.19 |
| | | | | Outstanding at December 31, 2019 | 7,210,551 |
| | $13.14-32.94 | | $ | 24.95 |
| | 4,648,574 |
| | $ | 23.07 |
|
|
| Stock Options Exercisable, Exercise Price Range |
The following table provides certain information with respect to stock options exercisable at December 31, 2019: | | | | | | | | | | | | | | | | Range of Exercise Prices | | Options Exercisable | | Weighted-Average Exercise Price | | Options Outstanding | | Weighted-Average Exercise Price | Under $20.00 | | 1,440,150 |
| | $ | 13.87 |
| | 1,440,150 |
| | $ | 13.87 |
| $20.00 - $26.00 | | 1,288,236 |
| | 23.77 |
| | 1,288,236 |
| | 23.77 |
| Over $26.00 | | 1,920,188 |
| | 29.49 |
| | 4,482,165 |
| | 28.85 |
| | | 4,648,574 |
| | | | 7,210,551 |
| | |
|
| Common shares reserved and available for grant or purchase |
At December 31, 2019, common shares reserved for issuance and available for grant or purchase under the following plans consisted of: | | | | | | | | Number of Shares | Stock Option Plans | Reserved for Issuance | | Available for Grant or Purchase(1) | 2000 long term incentive plan | 42,130 |
| | — |
| 2003 long term incentive plan | 187,184 |
| | — |
| 2006 long term incentive plan | 164,138 |
| | — |
| 2009 long term incentive plan | 1,701,404 |
| | — |
| 2014 long term incentive plan | 1,821,795 |
| | — |
| 2016 long term incentive plan | 2,285,000 |
| | — |
| 2018 long term incentive plan | 9,583,249 |
| | 7,646,099 |
| Total under stock option plans | 15,784,900 |
| | 7,646,099 |
|
| | | | | | | | Number of Shares | Stock Purchase Plans | Reserved for Issuance | | Available for Grant or Purchase | 1997 stock plan for non-employee directors | 483,860 |
| | 302,796 |
|
(1) All available to be issued as stock options, but includes a sub-limit for all types of stock awards of 1,589,950 shares.
|
| Performance Shares Transactions |
Performance share transactions were as follows: | | | | | | | | | | | | | | | | To Settle in Cash | | To Settle in Shares | | Shares | | Weighted-Average Fair Value per Share | | Shares | | Weighted-Average Fair Value per Share | Outstanding at January 1, 2019 | 670,303 |
| | $ | 19.89 |
| | 490,700 |
| | $ | 21.58 |
| Granted | 149,950 |
| | 26.26 |
| | 149,950 |
| | 26.26 |
| Paid/Issued | (193,408 | ) | | 19.89 |
| | (128,275 | ) | | 13.14 |
| Converted from shares to cash | 2,296 |
| | 29.94 |
| | (2,296 | ) | | 29.94 |
| Canceled | (311,431 | ) | | 19.13 |
| | (206,004 | ) | | 19.15 |
| Outstanding at December 31, 2019 | 317,710 |
| | $ | 17.18 |
| | 304,075 |
| | $ | 28.91 |
| Total vested at December 31, 2019 | 192,143 |
| | $ | 17.18 |
| | 177,558 |
| | $ | 29.77 |
|
|
| Summary of Unvested Performance Shares |
The summary of the status of our unvested performance shares to be settled in cash were as follows: | | | | | | | | | Shares | | Weighted-Average Fair Value per Share | Unvested at January 1, 2019 | 105,617 |
| | $ | 19.89 |
| Granted | 149,950 |
| | 26.26 |
| Vested | (127,776 | ) | | 17.18 |
| Canceled | (2,224 | ) | | 24.35 |
| Unvested at December 31, 2019 | 125,567 |
| | $ | 17.18 |
|
|