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Equity Incentive Schemes and Stock Compensation Charges (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Transactions for Company's Share Option Plans | The following table summarizes the transactions for the Company's share option plans for the years ended December 31, 2021, December 31, 2020 and December 31, 2019:
| Options Granted Under Plans |  | Weighted Average Exercise Price |
Outstanding at December 31, 2018 | 920,746 |  |  | $ | 74.32 |  |
Granted | 97,112 |  |  | $ | 140.13 |  |
Exercised | (329,870) |  |  | $ | 65.54 |  |
Canceled | (31,881) |  |  | $ | 88.12 |  |
Outstanding at December 31, 2019 | 656,107 |  |  | $ | 87.80 |  |
Granted | 107,737 |  |  | $ | 159.83 |  |
Exercised | (193,417) |  |  | $ | 68.19 |  |
Canceled/expired | (16,681) |  |  | $ | 92.21 |  |
Outstanding at December 31, 2020 | 553,746 |  |  | $ | 108.53 |  |
Assumed through business combinations * | 2,177,130 |  |  | $ | 108.78 |  |
Granted | 100,299 |  |  | $ | 177.76 |  |
Exercised | (1,065,529) |  |  | $ | 111.29 |  |
Canceled/expired | (70,186) |  |  | $ | 128.46 |  |
Outstanding at December 31, 2021 | 1,695,460 |  |  | $ | 104.79 |  |
Vested and exercisable at December 31, 2021 | 989,419 |  |  | $ | 91.70 |  |
*Represents stock options issued as replacement awards in connection with the Merger.
Schedule of Non Vested Shares Outstanding |
Summary of Information Concerning Outstanding and Exercisable Share Options | The following table summarizes information concerning outstanding and exercisable share options as of December 31, 2021:
Options Outstanding |  | Options Exercisable |
Range Exercise Price | Number of Shares | Weighted Average Remaining Contractual Life | Weighted Average Exercise Price |  | Number of Shares | Weighted Average Exercise Price |
14.80 - 97.30 | 638,118 |  | 3.45 |  |  | 605,624 |  |  |
103.81 - 124.00 | 320,310 |  | 6.49 |  |  | 130,920 |  |  |
125.74 - 147.26 | 540,296 |  | 6.56 |  |  | 235,808 |  |  |
159.33 - 231.08 | 196,736 |  | 6.68 |  |  | 17,067 |  |  |
14.80 - 231.08 | 1,695,460 |  | 5.39 | $ | 104.79 |  |  | 989,419 |  | $ | 91.70 |  |
Summary of Weighted Average Fair Values and Assumptions Used | The weighted average fair values and assumptions were as follows:
| Year Ended
| December 31, 2021 | December 31, 2020 | December 31, 2019
Weighted average fair value | $ | 49.15 |  | $ | 42.43 |  | $ | 43.43 |
Assumptions: |  |  |
Expected volatility | 30 | % | 30 | % | 30 | %
Dividend yield | — | % | — | % | — | %
Risk-free interest rate | 0.78 | % | 0.57 | % | 2.55 | %
Expected life | 5.0 years | 5.0 years | 5.0 years
The weighted average fair value of options assumed on the date of the Merger was calculated using the Black-Scholes option pricing model. The weighted average fair values on the date of the Merger and assumptions used were as follows:
| July 1, 2021
Weighted average grant date fair value | $ | 107.21 |
Assumptions: |
Expected volatility | 30 | %
Dividend yield | — | %
Risk-free interest rate | 0.56 | %
Expected life | 3.5 years
Summary of RSU and PSU Activity | The following table summarizes RSU and PSU activity for the year ended December 31, 2021:
| PSU Outstanding Number of Shares | PSU Weighted Average Grant Date Fair Value |  | RSU Outstanding Number of Shares | RSU Weighted Average Grant Date Fair Value |
Outstanding at December 31, 2020 | 159,641 |  | $ | 137.64 |  |  | 341,424 |  | $ | 145.77 |  |
Assumed through business combination* | — |  | $ | — |  |  | 589,517 |  | $ | 206.71 |  |
Granted | 55,444 |  | $ | 177.77 |  |  | 171,316 |  | $ | 214.36 |  |
Shares vested ** | (44,132) |  | $ | 115.61 |  |  | (446,404) |  | $ | 186.99 |  |
Forfeited | (16,763) |  | $ | 141.36 |  |  | (83,068) |  | $ | 188.49 |  |
Outstanding at December 31, 2021 | 154,190 |  | $ | 160.23 |  |  | 572,785 |  | $ | 191.20 |  |
* Represents restricted stock units issued as replacement awards in connection with the Merger. ** Includes 161,389 RSU's which vested on the date of the Merger.
Schedule of Non-cash Stock Compensation Expense | Non-cash stock compensation expense has been allocated as follows:
| Year ended
| December 31, 2021 | December 31, 2020 | December 31, 2019
| (in thousands)
Direct costs | $ | 18,551 |  | $ | 8,557 |  | $ | 14,777 |
Selling, general and administrative | 41,457 |  | 17,714 |  | 12,042 |
Transaction and integration related * | 73,836 |  | — |  | — |
Total compensation costs | $ | 133,844 |  | $ | 26,271 |  | $ | 26,819 |
* Represents the post combination portion of the accelerated vesting of awards following the completion of the Merger

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