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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | NOTE 12: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES As of December 31, 2023, the Company entered into contracts of put and call options to sell U.S. dollars (“USD”) for NIS and Euro ("EUR") for USD in the amounts of approximately NIS 541 million and EUR 60 million, respectively. The fair values of outstanding derivative instruments were as follows:
| Balance sheet location |  | December 31, 2023 |  |  | December 31, 2022 |
Derivative assets of options and forward contracts: |  |  |  |  |  |  |
Designated cash flow hedges | Prepaid expenses and other current assets |  | $ | 4,477 |  |  | $ | - |
Non-designated hedges | Prepaid expenses and other current assets |  |  | 410 |  |  |  | - |
Total derivative assets |  |  | $ | 4,887 |  |  | $ | - |
Derivative liabilities of options and forward contracts: |  |  |  |  |  |  |  |  |
Designated cash flow hedges | Accrued expenses and other current liabilities |  | $ | - |  |  | $ | (1,874 | )
Non-designated hedges | Accrued expenses and other current liabilities |  |  | - |  |  |  | - |
Total derivative liabilities |  |  | $ | - |  |  | $ | (1,874 | )
Gains (losses) on derivative instruments are summarized below:
|  |  | Year ended December 31, |
| Affected line item |  | 2023 |  |  | 2022 |  |  | 2021 |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Non Designated Hedging Instruments | Consolidated Statements of Income - Financial income (expense), net |  | $ | 2,337 |  |  | $ | 4,716 |  |  | $ | 9,417 |
Designated Hedging Instruments | Consolidated Statements of Comprehensive Income - Cash flow hedges |  | $ | (1,990 | ) |  | $ | (8,965 | ) |  | $ | 3,289 |
See Note 21 for information regarding gains (losses) from designated hedging instruments reclassified from accumulated other comprehensive loss.

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