v3.24.3
FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 12:       FAIR VALUE MEASUREMENTS
 
In accordance with ASC 820, "Fair Value Measurement", the Company measures its cash equivalents and marketable securities, at fair value using the market approach valuation technique. Cash and cash equivalents are classified within Level 1 because these assets are valued using quoted market prices. Marketable securities and foreign currency derivative contracts are classified within level 2 due to these assets being valued by alternative pricing sources and models utilizing market observable inputs.
 
The following table sets forth the Company’s assets that were measured at fair value as of September 30, 2024 and December 31, 2023, by level within the fair value hierarchy:
 
        
Fair value measurements as of
  
Description
  
Fair Value Hierarchy
  
September 30,
2024
    
December 31,
2023
  
Assets:
                
Cash and cash equivalents:
                
Cash
  
Level 1
  
$
289,287
    
$
309,521
  
Money market mutual funds
  
Level 1
  
$
11,180
    
$
22,311
  
Deposits
  
Level 1
  
$
3,437
    
$
6,636
  
Derivative instruments
  
Level 2
  
$
1,102
    
$
4,887
  
Short-term marketable securities:
                    
Corporate bonds
  
Level 2
  
$
349,249
    
$
481,820
  
U.S. Treasury securities
  
Level 2
  
$
9,918
    
$
15,261
  
U.S. Government agency securities
  
Level 2
  
$
13,309
    
$
8,795
  
Non-U.S. Government securities
  
Level 2
  
$
2,393
    
$
15,694
  
Long-term marketable securities:
                    
Corporate bonds
  
Level 2
  
$
46,691
    
$
339,681
  
U.S. Treasury securities
  
Level 2
  
$
-
    
$
2,408
  
U.S. Government agency securities
  
Level 2
  
$
9,350
    
$
44,086
  
Non-U.S. Government securities
  
Level 2
  
$
-
    
$
21,650

 

 

In addition to assets and liabilities that are recorded at fair value on a recurring basis, impairment indicators may subject goodwill and long-lived assets to nonrecurring fair value measurements. The implied fair values of the Solar and Energy Storage reporting units were estimated using the discounted cash flow approach (see Notes 8 and 9). The inputs to these models are considered Level 3.