XML 63 R47.htm IDEA: XBRL DOCUMENT v3.22.0.1
Equity Incentive Schemes and Stock Compensation Charges (Tables)
 12 Months Ended
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, 2018920,746 $74.32 
Granted97,112 $140.13 
Exercised(329,870)$65.54 
Canceled(31,881)$88.12 
Outstanding at December 31, 2019656,107 $87.80 
Granted107,737 $159.83 
Exercised(193,417)$68.19 
Canceled/expired(16,681)$92.21 
Outstanding at December 31, 2020553,746 $108.53 
Assumed through business combinations *2,177,130 $108.78 
Granted100,299 $177.76 
Exercised(1,065,529)$111.29 
Canceled/expired(70,186)$128.46 
Outstanding at December 31, 20211,695,460 $104.79 
Vested and exercisable at December 31, 2021989,419 $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 OutstandingOptions Exercisable
Range Exercise
Price		Number of
Shares		Weighted
Average
Remaining
Contractual Life		Weighted Average Exercise PriceNumber of
Shares		Weighted Average Exercise Price
14.80 - 97.30
638,118 3.45605,624 
103.81 - 124.00
320,310 6.49130,920 
125.74 - 147.26
540,296 6.56235,808 
159.33 - 231.08
196,736 6.6817,067 
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, 2021December 31, 2020December 31, 2019
Weighted average fair value$49.15 $42.43 $43.43 
Assumptions:
Expected volatility30 %30 %30 %
Dividend yield— %— %— %
Risk-free interest rate0.78 %0.57 %2.55 %
Expected life5.0 years5.0 years5.0 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 volatility30 %
Dividend yield— %
Risk-free interest rate0.56 %
Expected life3.5 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, 2020159,641 $137.64 341,424 $145.77 
Assumed through business combination*— $— 589,517 $206.71 
Granted55,444 $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, 2021154,190 $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, 2021December 31, 2020December 31, 2019
 (in thousands)
Direct costs$18,551 $8,557 $14,777 
Selling, general and administrative41,457 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