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Equity Incentive Schemes and Stock Compensation Charges (Tables) | 12 Months Ended
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Dec. 31, 2022
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, 2022, December 31, 2021 and December 31, 2020:
| Options Granted Under Plans |  | Weighted Average Exercise Price |
Outstanding at December 31, 2019 | 656,107 |  |  | $ | 87.80 |  |
Granted | 107,737 |  |  | $ | 159.83 |  |
Exercised | (193,417) |  |  | $ | 68.19 |  |
Canceled | (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 |  |  | $ | 110.38 |  |
Granted | 108,643 |  |  | $ | 229.94 |  |
Exercised | (348,286) |  |  | $ | 102.87 |  |
Canceled/expired | (77,698) |  |  | $ | 143.08 |  |
Outstanding at December 31, 2022 | 1,378,119 |  |  | $ | 119.86 |  |
Vested and exercisable at December 31, 2022 | 1,047,803 |  |  | $ | 102.29 |  |
*Represents stock options issued as replacement awards in connection with the Merger.
Summary of Information Concerning Outstanding and Exercisable Share Options | The following table summarizes information concerning outstanding and exercisable share options as of December 31, 2022:
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 |
14.88 - 96.15 | 494,565 |  | 2.70 | — |  |  | 494,565 |  | — |  |
103.81 - 124.00 | 226,489 |  | 5.58 | — |  |  | 203,605 |  | — |  |
125.74 - 147.26 | 386,518 |  | 5.65 | — |  |  | 303,054 |  | — |  |
159.33 - 231.68 | 270,547 |  | 6.24 | — |  |  | 46,579 |  | — |  |
14.88 - 231.68 | 1,378,119 |  | 4.69 | $ | 119.86 |  |  | 1,047,803 |  | $ | 102.29 |  |
Summary of Weighted Average Fair Values and Assumptions Used | The weighted average fair values and assumptions were as follows:
| Year Ended
| December 31, 2022 | December 31, 2021 | December 31, 2020
Weighted average fair value | $ | 68.42 |  | $ | 49.15 |  | $ | 42.43 |
Assumptions: |  |  |
Expected volatility | 31 | % | 30 | % | 30 | %
Dividend yield | — | % | — | % | — | %
Risk-free interest rate | 1.86 | % | 0.78 | % | 0.57 | %
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, 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 | 64,682 |  | $ | 229.79 |  |  | 302,307 |  | $ | 216.85 |  |
Shares vested | (46,087) |  | $ | 140.48 |  |  | (195,029) |  | $ | 174.35 |  |
Forfeited | (20,365) |  | $ | 185.90 |  |  | (97,451) |  | $ | 205.25 |  |
Outstanding at December 31, 2022 | 152,420 |  | $ | 192.29 |  |  | 582,612 |  | $ | 207.73 |  |
Schedule of Non-cash Stock Compensation Expense | Non-cash stock compensation expense has been allocated as follows:
| Year ended
| December 31, 2022 | December 31, 2021 | December 31, 2020
| (in thousands)
Direct costs | $ | 22,854 |  | $ | 18,551 |  | $ | 8,557 |
Selling, general and administrative | 47,669 |  | 41,457 |  | 17,714 |
Transaction and integration related * | — |  | 73,836 |  | — |
Total compensation costs | $ | 70,523 |  | $ | 133,844 |  | $ | 26,271 |
* Represents the post combination portion of the accelerated vesting of awards following the completion of the Merger

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