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Share-based awards (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of stock option activity
The following table summarizes option activity for the nine months ended September 30, 2023:
 Options
Outstanding
Number of Shares 
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
Outstanding at December 31, 20221,378,119 $119.86 4.69
Granted82,472 $232.48 
Exercised(377,614)$96.67 
Canceled/expired(6,885)$116.33 
Outstanding at September 30, 20231,076,092 $136.65 4.45
Exercisable at September 30, 2023804,953 $113.75 3.91
Schedule of weighted average fair values and assumptions used The weighted average grant date fair values and assumptions used were as follows:
Nine Months Ended
September 30, 2023September 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 nine months ended September 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 $232.51 306,780 $218.68 
Shares vested(47,026)$159.57 (178,781)$186.35 
Forfeited— $— (59,260)$211.45 
Outstanding at September 30, 2023165,768 $216.22 651,351 $218.41 
Schedule of non-cash stock compensation expense
Stock compensation expense for the three and nine months ended September 30, 2023 and September 30, 2022 has been allocated as follows:
Three Months EndedNine Months Ended
September 30, 2023September 30, 2022September 30, 2023September 30, 2022
(in thousands)(in thousands)
Direct costs$6,637 $6,285 $18,725 $17,117 
Selling, general and administrative$9,828 $11,232 $29,097 $38,586 
Total$16,465 $17,517 $47,822 $55,703