SHORT-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS

Short-term investments include marketable securities in the amount of $873,976 and $1,012,286 as of December 31, 2023 and 2022, respectively and short-term bank deposits in the amounts of $22,068 and $29,657 as of December 31, 2023 and 2022, respectively.

The following table summarizes amortized costs, gross unrealized gains and losses and estimated fair values of available-for-sale marketable securities as of December 31, 2023 and 2022:

	Amortized cost				Gross unrealized gains				Gross unrealized losses				Estimated fair value (Level 2 within the fair value hierarchy)
	December 31,				December 31,				December 31,				December 31,
	2023		2022		2023		2022		2023		2022		2023		2022
Corporate debentures	$	835,856	$	986,803	$	1,299	$	180	$	(16,582)	$	(37,408)	$	820,573	$	949,574
U.S. Treasuries	51,207		42,317		93		96		(741)		(984)		50,559		41,428
U.S. Government Agencies	2,841		22,238		3		12		—		(968)		2,844		21,284
	$	889,904	$	1,051,358	$	1,395	$	288	$	(17,323)	$	(39,360)	$	873,976	$	1,012,286

The scheduled maturities of available-for-sale marketable securities as of December 31, 2023 are as follows:

	Amortized cost		Estimated fair value
Due within one year	$	531,021	$	518,153
Due after one year through five years	358,883		355,823
	$	889,904	$	873,976

Investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values as of December 31, 2023 and 2022 are as indicated in the following tables:

	December 31, 2023
	Investments with continuous unrealized losses for less than 12 months				Investments with continuous unrealized losses for 12 months or greater				Total Investments with continuous unrealized losses
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate debentures	$	103,904	$	(993)	$	541,497	$	(15,589)	$	645,401	$	(16,582)
U.S. Treasuries	12,369		(127)		29,249		(614)		41,618		(741)
	$	116,273	$	(1,120)	$	570,746	$	(16,203)	$	687,019	$	(17,323)

	December 31, 2022
	Investments with continuous unrealized losses for less than 12 months				Investments with continuous unrealized losses for 12 months or greater				Total Investments with continuous unrealized losses
	Fair value		Unrealized losses		Fair value		Unrealized losses		Fair value		Unrealized losses
Corporate debentures	$	404,393	$	(14,198)	$	508,180	$	(23,210)	$	912,573	$	(37,408)
U.S. Treasuries	32,501		(984)		—		—		32,501		(984)
U.S. Government Agencies	3,344		(157)		15,195		(811)		18,539		(968)
	$	440,238	$	(15,339)	$	523,375	$	(24,021)	$	963,613	$	(39,360)