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Share-based awards (Tables) | 3 Months Ended
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Mar. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes option activity for the three months ended March 31, 2022:
| Options Outstanding Number of Shares |  | Weighted Average Exercise Price |  |  |  | Weighted Average Remaining Contractual Life
Outstanding at December 31, 2021 | 1,695,460 |  |  | $ | 104.79 |  |  |  |  | 5.39
Granted | 96,525 |  |  | $ | 231.68 |  |  |  |  |
Exercised | (84,090) |  |  | $ | 190.75 |  |  |  |  |
Canceled/expired | (25,660) |  |  | $ | 113.04 |  |  |  |  |
Outstanding at March 31, 2022 | 1,682,235 |  |  | $ | 118.36 |  |  |  |  | 5.44
Exercisable at March 31, 2022 | 1,054,178 |  |  | $ | 97.57 |  |  |  |  | 4.55
Schedule of Weighted Average Fair Values and Assumptions Used | The weighted average grant date fair values and assumptions used were as follows:
| Three Months Ended
| March 31, 2022 |  | March 31, 2021
Weighted average grant date fair value | $ | 68.24 |  |  | $ | 48.36 |
Assumptions: |  |  |
Expected volatility | 30 | % |  | 30 | %
Dividend yield | — | % |  | — | %
Risk-free interest rate | 1.74 | % |  | 0.73 | %
Expected life | 5 years |  | 5 years
Summary of RSU and PSU Activity | The following table summarizes RSU and PSU activity for the three months ended March 31, 2022:
| 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, 2021 | 154,190 |  |  | $ | 160.23 |  |  |  | 572,785 |  |  | $ | 191.20 |
Granted | 51,949 |  |  | $ | 231.68 |  |  |  | 26,000 |  |  | $ | 231.68 |
Shares vested | (42,409) |  |  | $ | 140.38 |  |  |  | (32,360) |  |  | $ | 166.85 |
Forfeited | (285) |  |  | $ | 140.18 |  |  |  | (24,599) |  |  | $ | 200.16 |
Outstanding at March 31, 2022 | 163,445 |  |  | $ | 186.77 |  |  |  | 541,826 |  |  | $ | 194.19 |
Schedule of Non-cash Stock Compensation Expense | Non-cash stock compensation expense for the three months ended March 31, 2022 and March 31, 2021 has been allocated as follows:
| Three Months Ended |  |
| March 31, 2022 |  | March 31, 2021 |  |  |  |
| (in thousands) |  |
Direct costs | $ | 4,999 |  |  | $ | 2,055 |  |  |  |  |
Selling, general and administrative | 13,904 |  |  | 4,339 |  |  |  |  |
| $ | 18,903 |  |  | $ | 6,394 |  |  |  |  |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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