XML 44 R36.htm IDEA: XBRL DOCUMENT v3.25.1
Share-based awards (Tables)
3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes option activity for the three months ended March 31, 2025:
 Options
Outstanding
Number of Shares 
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
Outstanding at December 31, 2024622,292 $170.52 3.91
Granted118,902 $185.18 
Exercised(40,883)$116.46 
Forfeited/Expired(762)$216.10 
Outstanding at March 31, 2025699,549 $176.12 4.54
Exercisable at March 31, 2025450,752 $150.36 3.28
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,
2025
March 31,
2024
Weighted average grant date fair value$64.42 $115.76 
Assumptions: 
Expected volatility35 %36 %
Dividend yield— %— %
Risk-free interest rate4.00 %4.20 %
Expected life4.4 years4.3 years
Summary of RSU and PSU Activity The following table summarizes RSU and PSU activity for the three months ended March 31, 2025:
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, 202419,721 $280.76 647,589 $251.36 
Granted41,359 $185.18 48,964 $185.06 
Shares vested(8,191)$231.68 (18,855)$263.34 
Forfeited— $— (18,176)$247.29 
Outstanding at March 31, 202552,889 $213.62 659,522 $246.21 
Schedule of Non-Cash Stock Compensation Expense
Stock compensation expense for the three months ended March 31, 2025 and March 31, 2024 has been allocated as follows:
Three Months Ended
March 31,
2025
March 31,
2024
(in thousands)
Direct costs$5,381 $6,721 
Selling, general and administrative6,913 6,460 
Total$12,294 $13,181