INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of income (loss) before income taxes

The components of income (loss) before taxes on income are as follows:

	Year ended December 31,
	2019		2018		2017
	(in thousands)
United States	$	36,683	$	19,526	$	(21,528	)
Foreign	187,246		92,685		(375		)
Income (loss) before taxes on income	$	223,929	$	112,211	$	(21,903	)

Schedule of the components of the provision for income taxes

The components of the provision for (benefit from) income taxes are as follows:

	Year ended December 31,
	2019		2018			2017
	(in thousands)
Current:
U.S. federal	$	4,009	$	1,306		$	(617	)
State and local	571		512			632
Foreign	3,609		4,648			(261		)
Total current	8,189		6,466			(246		)
Deferred:
U.S. federal	5,187		(17,487		)	—
State and local	613		(12,283		)	—
Foreign	4,845		1,257			(2,232		)
Total deferred	10,645		(28,513		)	(2,232		)
Provision for (benefit from) taxes on income	$	18,834	$	(22,047	)	$	(2,478	)

Schedule of significant deferred tax assets and liabilities

At December 31, 2019 and 2018, significant deferred tax assets and liabilities are as follows:

	December 31,
	2019			2018
	(in thousands)
Deferred tax assets:
Net operating loss and credit carryforwards	$	28,936		$	42,345
Share-based compensation	10,559			7,241
Lease liabilities	7,315			—
Reserves and accruals	2,768			6,620
Other	4,030			7,069
Gross deferred tax assets	53,608			63,275
Valuation allowance	(5,971		)	(8,152		)
Total deferred tax assets	47,637			55,123
Right of use assets	(6,630		)	—
Intangible assets	(4,021		)	(4,463		)
Others	(480		)	—
Total deferred tax liabilities	(11,131		)	(4,463		)
Net deferred tax assets	$	36,506		$	50,660

Schedule of reconciliation of the statutory federal income tax rate to the Company's effective tax rate

The reconciliation of the statutory federal income tax rate to the Company's effective tax rate is as follows:

	December 31,
	2019		2018		2017
Tax at statutory rate	21.0	%	21.0	%	35.0	%
Tax at rates other than the statutory rate	(15.6	)	(14.2	)	(4.8	)
Valuation allowance	—		(29.1	)	47.3
Net change in tax reserves	2.8		4.1		8.0
Adjustment of deferred tax balances following changes in tax rates	—		—		(71.8	)
Other, net	0.2		(1.4	)	(2.4	)
Provision for (benefit from) taxes on income	8.4	%	(19.6	)%	11.3	%

Schedule of reconciliation of unrecognized tax benefits, excluding penalties and interest

The following summarizes the activity related to the Company's unrecognized tax benefits:

	December 31,
	2019			2018			2017
	(in thousands)
Gross unrecognized tax benefits, beginning of the period	$	46,541		$	45,154		$	41,460
Increases in tax positions for prior years	2,789			1,377			3,655
Decreases in tax positions for prior years	—			(1,860		)	—
Increases in tax positions for current year	11,784			5,516			8,090
Increases in tax positions acquired or assumed in a business combination	—			—			—
Decreases due to lapses of statutes of limitations	(5,642		)	(3,646		)	(8,051		)
Gross unrecognized tax benefits, end of the period	$	55,472		$	46,541		$	45,154