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TAXES ON INCOME (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities Significant components of the Company's deferred tax assets and liabilities are as follows :
    
December 31,
20232022
Deferred tax assets:
Net operating losses carryforward and tax credits$96,079 $51,924 
Intra-entity transfer of certain intangible assets (*)14,563 17,252 
Operating leases liabilities 18,820 22,878 
Share based payments37,110 38,206 
Research and development costs112,311 62,695 
Reserves, allowances and other55,124 54,774 
Deferred tax assets before valuation allowance334,007 247,729 
Valuation allowance(19,818)(12,569)
Deferred tax assets314,189 235,160 
Deferred tax liabilities:
Acquired intangibles(75,396)(43,385)
Operating lease right-of-use assets(15,813)(20,160)
Acquired deferred revenue— (565)
Internal use software and other fixed assets(18,650)(24,766)
Prepaid compensation expenses(33,936)(36,724)
Other(19)(7)
Deferred tax liabilities(143,814)(125,607)
Deferred tax assets, net$170,375 $109,553 

(*) During the years ended December 31, 2023 and 2022, the Company completed intra-entity transfers of certain intangible assets to a different tax jurisdiction. As a result of the transfers, the Company utilized net operating losses carried forward, incurred a tax expense on capital gain, released valuation allowances and recorded a deferred tax asset.

December 31,
20232022
Deferred tax assets$178,971 $116,889 
Deferred tax liabilities(8,596)(7,336)
Deferred tax assets, net$170,375 $109,553 
Schedule of Effective Income Tax Rate Reconciliation A reconciliation of the Company's effective tax rate to the statutory tax rate in Israel is as follows:
Year Ended December 31,
202320222021
Income before taxes on income, as reported in the consolidated statements of income$457,700$345,332$240,619
Statutory tax rate in Israel23.0 %23.0 %23.0 %
Preferred Enterprise / Preferred Technology Enterprise benefits (*)(6.8)%(3.3)%(2.2)%
Changes in valuation allowance1.6 %0.5 %1.0 %
Earnings taxed under foreign law(0.9)%0.7 %0.2 %
Tax settlements and prior years adjustments
4.4 %0.4 %(1.8)%
Intangible assets transfer— %— %(1.7)%
Other4.7 %1.7 %(1.3)%
Effective tax rate26.1 %23.0 %17.2 %
(*) The effect of the benefit resulting from the "Preferred Enterprise/Preferred Technology Enterprise benefits" status on net earnings per ordinary share is as follows
Schedule of Effect on Benefit Resulting from "Preferred Enterprise" Status on Net Earnings Per Ordinary Share
Year Ended December 31,
202320222021
Basic$0.49 $0.18 $0.08 
Diluted$0.47 $0.19 $0.08 
Schedule of Income Before Income Taxes on Income Income before taxes on income is comprised as follows:
Year Ended December 31,
202320222021
Domestic$195,203 $102,500 $53,703 
Foreign262,497 242,832 186,916 
$457,700 $345,332 $240,619 
Schedule of Taxes on Income (Tax Benefit) Taxes on income (tax benefit) are comprised as follows:
Year Ended December 31,
202320222021
  Current
$182,789 $132,129 $80,903 
 Deferred
(63,390)(52,742)(39,507)
119,399 79,387 41,396 
Domestic51,334 28,853 16,171 
Foreign68,065 50,534 25,225 
$119,399 $79,387 $41,396 
Of which:
Year Ended December 31,
202320222021
Domestic taxes:
Current$50,414 $29,576 $27,400 
Deferred920 (723)(11,229)
51,334 28,853 16,171 
Foreign taxes:
Current132,375 102,553 53,503 
Deferred(64,310)(52,019)(28,278)
68,065 50,534 25,225 
Taxes on income$119,399 $79,387 $41,396 
Schedule of Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending balances of the total amounts of uncertain tax position is as follows:

December 31,
20232022
Uncertain tax positions, beginning of year$80,005 $77,047 
Increases in tax positions for prior years1,262 2,729 
Increases in tax positions for current year11,712 6,031 
Expiry of the statute of limitations(2,855)(5,802)
Uncertain tax positions, end of year$90,124 $80,005