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Share-based awards (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of stock option activity
The following table summarizes option activity for the six months ended June 30, 2023:
 Options
Outstanding
Number of Shares 
Weighted
Average
Exercise
Price
Weighted
Average Grant Date
Fair Value
Weighted
Average
Remaining
Contractual
Life
Outstanding at December 31, 20221,378,119 $119.86 4.69
Granted82,472 $232.48 
Exercised(229,953)$87.69 
Canceled/expired(6,885)$116.33 
Outstanding at June 30, 20231,223,753 $133.51 4.67
Exercisable at June 30, 2023952,614 $113.27 4.20
Schedule of weighted average fair values and assumptions used The weighted average grant date fair values and assumptions used were as follows:
Six Months Ended
June 30, 2023June 30, 2022
Weighted average grant date fair value$85.12 $68.40 
Assumptions:  
Expected volatility33 %31 %
Dividend yield— %— %
Risk-free interest rate3.98 %1.85 %
Expected life5 years5 years
Summary of RSU and PSU activity The following table summarizes RSU and PSU activity for the six months ended June 30, 2023:
  
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, 2022152,420 $192.29 582,612 $207.73 
Granted60,374 $232.51 294,683 $217.52 
Shares vested(47,026)$159.57 (150,515)$187.96 
Forfeited— $— (31,396)$209.13 
Outstanding at June 30, 2023165,768 $216.22 695,384 $216.09 
Schedule of non-cash stock compensation expense
Non-cash stock compensation expense for the three and six months ended June 30, 2023 and June 30, 2022 has been allocated as follows:
Three Months EndedSix Months Ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
(in thousands)(in thousands)
Direct costs$6,420 $5,833 $12,088 $10,832 
Selling, general and administrative$10,178 $13,450 $19,269 $27,354 
Total$16,598 $19,283 $31,357 $38,186