Incentive Compensation (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Share-Based Payment Arrangement [Abstract] |
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| Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award |
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Successor |
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Predecessor |
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Period from July 20, 2022 through December 31, 2022 |
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Period from January 1, 2022 through July 19, 2022 |
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Year Ended December 31, 2021 |
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Year Ended December 31, 2020 |
| Stock option expense for the year |
$ |
— |
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$ |
229 |
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$ |
712 |
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$ |
412 |
| Aggregate exercise date intrinsic value of options exercised during the year |
$ |
— |
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$ |
2,311 |
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$ |
4,559 |
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$ |
305 |
| Average assumptions used in valuing options with the Black-Scholes method: |
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| Expected life of options in years, based upon historical experience |
0 |
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0 |
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5 |
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5 |
| Risk-free interest rate |
— |
% |
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— |
% |
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0.8 |
% |
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0.4 |
% |
| Expected volatility, based upon historical volatility |
— |
% |
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— |
% |
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15.4 |
% |
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22.3 |
% |
| Expected dividend yield |
— |
% |
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— |
% |
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2.6 |
% |
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3.3 |
% |
| Average estimated value of options granted during the year |
$ |
— |
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$ |
— |
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$ |
14.40 |
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$ |
15.27 |
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| Share-Based Payment Arrangement, Option, Activity |
Information with respect to stock options during 2022, 2021, and 2020 is as follows:
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| Options |
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Number of Options |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contract Life |
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Aggregate Intrinsic Value |
| Outstanding at December 31, 2019 - Predecessor |
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157,830 |
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$ |
104.92 |
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| Granted |
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18,000 |
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$ |
127.22 |
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| Exercised |
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(4,136) |
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$ |
(62.69) |
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| Forfeited |
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— |
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$ |
— |
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| Outstanding at December 31, 2020 - Predecessor |
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171,694 |
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$ |
108.29 |
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| Granted |
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38,000 |
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$ |
162.63 |
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| Exercised |
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(55,546) |
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$ |
90.24 |
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| Forfeited |
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— |
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$ |
— |
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Special cash dividend adjustment1
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5,422 |
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$ |
124.13 |
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| Outstanding at December 31, 2021 - Predecessor |
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159,570 |
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$ |
123.87 |
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| Granted |
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— |
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$ |
— |
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| Exercised |
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(27,403) |
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$ |
76.76 |
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| Forfeited |
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(132,167) |
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$ |
133.64 |
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| Outstanding at July 19, 2022 - Predecessor |
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— |
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$ |
— |
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| Granted |
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— |
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$ |
— |
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| Exercised |
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— |
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$ |
— |
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| Forfeited |
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— |
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$ |
— |
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| Outstanding at December 31, 2022 - Successor |
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— |
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$ |
— |
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0.00 |
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$ |
— |
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| Exercisable at December 31, 2022 - Successor |
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— |
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$ |
— |
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0.00 |
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$ |
— |
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1 In accordance with the applicable equity award plan documents, the number and exercise price of outstanding options have been adjusted because of the Special Cash Dividend so that the option holder maintains their economic position with respect to the stockholders.
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| Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity |
Information with respect to RSUs during 2022, 2021, and 2020 is as follows:
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| Restricted Stock Units |
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Number of RSUs |
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Weighted Average Grant Date Fair Value |
| Nonvested at December 31, 2019 - Predecessor |
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150,848 |
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$ |
15,425 |
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| Granted |
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46,036 |
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5,562 |
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| Vested |
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(73,256) |
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(6,991) |
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| Forfeited |
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(2,120) |
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(290) |
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| Nonvested at December 31, 2020 - Predecessor |
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121,508 |
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13,706 |
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| Granted |
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76,266 |
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11,948 |
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| Vested |
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(61,243) |
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(6,255) |
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| Forfeited |
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(17,940) |
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(2,107) |
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| Nonvested at December 31, 2021 - Predecessor |
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118,591 |
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17,292 |
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| Granted |
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38,151 |
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5,807 |
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| Vested |
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(22,209) |
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(3,003) |
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| Forfeited |
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(134,533) |
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(20,096) |
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| Nonvested at July 19, 2022 - Predecessor |
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— |
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— |
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| Granted |
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— |
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— |
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| Vested |
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— |
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— |
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| Forfeited |
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— |
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— |
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| Nonvested at December 31, 2022 - Successor |
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— |
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$ |
— |
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| Share-Based Payment Arrangement, Activity |
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Successor |
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Predecessor |
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Period from July 20, 2022 through December 31, 2022 |
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Period from January 1, 2022 through July 19, 2022 |
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Year Ended December 31, 2021 |
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Year Ended December 31, 2020 |
| Restricted stock unit expense |
$ |
— |
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$ |
3,106 |
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$ |
6,685 |
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$ |
4,475 |
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| Shares of common stock issued upon vesting |
— |
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12,528 |
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35,714 |
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43,458 |
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| Fair value of vested common stock on vesting date |
$ |
— |
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$ |
3,704 |
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$ |
9,474 |
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$ |
10,350 |
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| Cash paid for taxes in lieu of shares of common stock withheld upon vesting of RSUs |
$ |
— |
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$ |
1,318 |
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$ |
3,940 |
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$ |
4,216 |
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