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TAXES ON INCOME (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of Deferred Tax Assets and Liabilities | As of December 31, 2019 and 2018, the Company’s deferred taxes were in respect of the following:
|  | December 31,
|  | 2019 |  | 2018 |
Carry forward tax losses |  | $ | 76.2 |  |  | $ | 90.1 |
Employee stock based compensation |  |  | 25.9 |  |  |  | 19.3 |
Deferred revenues |  |  | 26.3 |  |  |  | 22.2 |
Other |  |  | 35.3 |  |  |  | 53.2 |
Deferred tax assets before valuation allowance |  |  | 163.7 |  |  |  | 184.8 |
Valuation allowance – mainly in respect to carryforward losses |  |  | (57.7 | ) |  |  | (55.8 | )
Deferred tax asset |  |  | 106.0 |  |  |  | 129.0 |
Intangible assets |  |  | (16.9 | ) |  |  | (11.3 | )
Undistributed earnings of subsidiary |  |  | (9.9 | ) |  |  | (9.9 | )
Other |  |  | (4.2 | ) |  |  | (4.7 | )
Deferred tax liability |  |  | (31.0 | ) |  |  | (25.9 | )
Deferred tax asset, net |  | $ | 75.0 |  |  | $ | 103.1 |
*) As of December 31, 2019 and 2018 unrecognized tax benefit in the amounts of $19.6 and $18.4 was presented net from deferred tax asset.
Schedule of Income Before Taxes |
| e. | Income before taxes on income is comprised as follows:
|  | Year ended December 31,
|  | 2019 |  |  | 2018 |  | 2017 |
Domestic |  | $ | 881.1 |  |  | $ | 902.3 |  | $ | 923.7 |
Foreign |  |  | 81.3 |  |  |  | 76.6 |  |  | 47.2 |
|  | $ | 962.4 |  |  | $ | 978.9 |  | $ | 970.9 |
Components of Income Tax Expense |
| f. | Taxes on income are comprised of the following:
|  | Year ended December 31,
|  | 2019 |  | 2018 |  | 2017 |
Domestic taxes: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 111.9 |  |  | $ | 120.9 |  |  | $ | 94.3 |
Deferred |  |  | 2.0 |  |  |  | 11.1 |  |  |  | 18.3 |
|  |  | 113.9 |  |  |  | 132.0 |  |  |  | 112.6 |
Foreign taxes: |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 15.3 |  |  |  | 19.9 |  |  |  | 7.6 |
Deferred |  |  | 7.5 |  |  |  | 5.7 |  |  |  | 47.8 |
|  |  | 22.8 |  |  |  | 25.6 |  |  |  | 55.4 |
Taxes on income |  | $ | 136.7 |  |  | $ | 157.6 |  |  | $ | 168.0 |
Reconciliation Of Unrecognized Tax Benefits |
| g. | A reconciliation of the beginning and ending amount of unrecognized tax benefits related to uncertain tax positions is as follows:
|  | December 31,
|  | 2019 |  | 2018 |
Beginning balance |  | $ | 375.1 |  |  | $ | 342.9 |
Increases related to tax positions taken during prior years |  |  | 43.2 |  |  |  | 0.7 |
Decreases related to statute of limitations |  |  | (62.7 | ) |  |  | - |
Increases related to tax positions taken during the current year |  |  | 57.3 |  |  |  | 31.5 |
Ending balance |  | $ | *) 412.9 |  |  | $ | *) 375.1 |
*) As of December 31, 2019 and 2018 unrecognized tax benefit in the amounts of $19.6 and $18.4 was presented net from deferred tax asset.
Schedule of Effective Income Tax Reconciliation |
|  | Reconciliation between the theoretical tax expenses, assuming all income is taxed at the statutory rate in Israel and the actual income tax as reported in the statements of income is as follows:
|  | Year ended December 31,
|  | 2019 |  | 2018 |  | 2017 |
Income before taxes as reported in the statements of income |  | $ | 962.4 |  |  | $ | 978.9 |  |  | $ | 970.9 |
Statutory tax rate in Israel |  |  | 23% |  |  |  | 23% |  |  |  | 24% |
Decrease in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Effect of “Preferred Enterprise” status *) |  |  | (11% | ) |  |  | (9% | ) |  |  | (11% | )
Decrease in US deferred tax due to US tax rate change |  |  | - |  |  |  | - |  |  |  | 4% |
Others, net |  |  | 2% |  |  |  | 2% |  |  |  | - |
Effective tax rate |  |  | 14% |  |  |  | 16% |  |  |  | 17% |
*) Basic earnings per share amounts of the benefit resulting from the “Technological preferred or Preferred Enterprise” status |  | $ | 0.66 |  |  | $ | 0.57 |  |  | $ | 0.68 |
Diluted earnings per share amounts of the benefit resulting from the “Technological preferred or Preferred Enterprise” status |  | $ | 0.65 |  |  | $ | 0.56 |  |  | $ | 0.66 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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