General (Tables)

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

Derivative instruments measured at fair value and their classification on the consolidated balance sheets are presented in the following table (in thousands):

 

	Assets (liabilities) as of March 31, 2023 (unaudited)				Liabilities as of December 31, 2022
	Notional Amount		Fair Value		Notional Amount		Fair Value
Foreign exchange forward contract derivatives in cash flow hedging relationships included in accrued expenses and other short-term liabilities	$	140,171	$	(10,189)	$	136,426	$	(7,221)
Foreign exchange forward contract derivatives in cash flow hedging relationships included in long-term other liabilities	$	139,165	$	(3,181)	$	107,210	$	(2,060)
Foreign exchange forward contract derivatives for monetary items included in prepaid expenses and other current assets and accrued expenses and other short-term liabilities	$	17,236	$	18	$	32,066	$	(226)

Cash, Cash Equivalents and Investments

The Company considers all investments purchased with original maturities at the date of purchase greater than three months but less than one year to be short-term. Marketable securities are classified as available for sale and are, therefore, recorded at fair value on the consolidated balance sheet, with any unrealized gains and losses reported in accumulated other comprehensive income, which is reflected as a separate component of stockholders’ equity in the Company’s consolidated balance sheets, until realized. The Company uses the specific identification method to compute gains and losses on the investments. The amortized cost of securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included as a component of financial income, net in the consolidated statement of operations. Cash, cash equivalents, marketable securities and deposits consist of the following (in thousands):

 

	As of March 31, 2023
	(unaudited)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents
Money market funds	$	162,911	$	—	$	—	$	162,911
Total	$	162,911	$	—	$	—	$	162,911
Marketable securities
US Treasury securities	$	205,728	$	118	$	(152)	$	205,694
US Agencies securities	55,976		*)		(88)		55,888
Commercial paper	14,816		8		(5)		14,819
Corporate bonds	4,436		1		(3)		4,434
Total	$	280,956	$	127	$	(248)	$	280,835
Short-term deposits
Term bank deposits	$	226,850	$	—	$	—	$	226,850
Total	$	226,850	$	—	$	—	$	226,850

*) Represents an amount lower than $1

	As of December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents
Money market funds	$	278,022	$	—	$	—	$	278,022
Total	$	278,022	$	—	$	—	$	278,022
Marketable securities
US Treasury securities	$	159,165	$	2	$	(211)	$	158,956
US Agencies securities	55,967		5		(72)		55,900
Commercial paper	13,679		—		—		13,679
Corporate bonds	7,804		4		(5)		7,803
Total	$	236,615	$	11	$	(288)	$	236,338
Short-term deposits
Term bank deposits	$	128,350	$	—	$	—	$	128,350
Total	$	128,350	$	—	$	—	$	128,350