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CASH AND CASH EQUIVALENTS, SHORT-TERM BANK DEPOSITS AND MARKETABLE SECURITIES | 12 Months Ended
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Dec. 31, 2024
Cash, Cash Equivalents, and Short-term Investments [Abstract] |
CASH AND CASH EQUIVALENTS, SHORT-TERM BANK DEPOSITS AND MARKETABLE SECURITIES | NOTE 4:- CASH AND CASH EQUIVALENTS, SHORT-TERM BANK DEPOSITS AND MARKETABLE SECURITIES
|  | December 31, |
|  | 2024 |  |  | 2023 |
Cash and cash equivalents: |  |  |  |  |  |
Cash |  | $ | 54.5 |  |  | $ | 79.8 |
Money market funds |  |  | 158.1 |  |  |  | 175.4 |
Short term deposits |  |  | 293.6 |  |  |  | 282.5 |
Total Cash and cash equivalents |  |  | 506.2 |  |  |  | 537.7 |
Short-term bank deposits: |  |  | 134.0 |  |  |  | 52.5 |
Marketable securities: |  |  |  |  |  |  |  |
Debt securities issued by the U.S. Treasury and other U.S. government agencies |  |  | 518.4 |  |  |  | 661.2 |
Debt securities issued by other governments |  |  | 55.4 |  |  |  | 60.3 |
Corporate debt securities |  |  | 1,569.8 |  |  |  | 1,648.0 |
Total Marketable securities |  |  | 2,143.6 |  |  |  | 2,369.5 |
Total Cash and cash equivalents, short-term bank deposits and marketable securities |  | $ | 2,783.8 |  |  | $ | 2,959.7 |
The following table classifies the Company’s marketable securities by contractual maturities:
|  | December 31, 2024 |
|  | Amortized Cost |  |  | Gross unrealized gain |  |  | Gross unrealized loss |  |  | Fair Value |
Contractual maturity year: |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  | $ | 736.3 |  |  | $ | 0.3 |  |  | $ | (4.9 | ) |  | $ | 731.7 |
After one year through five years |  |  | 1,424.5 |  |  |  | 2.8 |  |  |  | (15.4 | ) |  |  | 1,411.9 |
Total |  | $ | 2,160.8 |  |  | $ | 3.1 |  |  | $ | (20.3 | ) |  | $ | 2,143.6 |
|  | December 31, 2023 |
|  | Amortized Cost |  |  | Gross unrealized gain |  |  | Gross unrealized loss |  |  | Fair Value |
Contractual maturity year: |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  | $ | 956.6 |  |  | $ | - |  |  | $ | (16.8 | ) |  | $ | 939.8 |
After one year through five years |  |  | 1,465.4 |  |  |  | 3.0 |  |  |  | (38.7 | ) |  |  | 1,429.7 |
Total |  | $ | 2,422.0 |  |  | $ | 3.0 |  |  | $ | (55.5 | ) |  | $ | 2,369.5 |
From the total of $20.3 and $55.5 unrealized losses as of December 31, 2024 and 2023, $9.7 and $41.9 were in continuous unrealized loss for more than 12 months, respectively. The unrealized losses are mainly driven by the higher interest rate environment and the interest rate hikes by global central banks during 2022-2023, which was due mainly to elevated inflation rates, therefore negatively impacted the fair value of securities in the Company’s portfolio. As of December 31, 2024 and 2023, interest receivable amounted to $17.7 and $15.5, respectively, and is included within prepaid expenses and other assets in the balance sheets.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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