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TAXES ON INCOME (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Deferred Tax Assets and Liabilities | Deferred taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts recorded for tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:
| December 31, |  |
| 2019 |  | 2018
Deferred tax assets: |  |  |
Net operating losses carryforward and tax credits | $ | 31,254 |  |  | $ | 88,528 |
Intra-entity transfer of certain intangible assets (*) | 18,798 |  |  | — |
Operating leases liabilities | 24,398 |  |  | — |
Share based payments | 19,017 |  |  | 21,631 |
Research and development costs | 3,645 |  |  | 3,473 |
Reserves, allowances and other | 31,090 |  |  | 21,838 |
Deferred tax assets before valuation allowance | 128,202 |  |  | 135,470 |
Valuation allowance | (9,145) |  |  | (11,211) |
Deferred tax assets | 119,057 |  |  | 124,259 |
Deferred tax liabilities: |  |  |  |  |
Acquired intangibles | (87,711) |  |  | (126,318) |
Operating lease right-of-use assets | (20,357) |  |  | — |
Acquired deferred revenue | (760) |  |  | (2,033) |
Internal Use Software and other Fixed Assets | (14,779) |  |  | (15,677) |
Prepaid Compensation Expenses | (17,446) |  |  | (12,062) |
Deferred tax liabilities | (141,053) |  |  | (156,090) |
Deferred tax liabilities, net | $ | (21,996) |  |  | $ | (31,831) |
(*) During the year ended December 31, 2019, the Company completed an intra-entity transfer of certain intangible assets to a different tax jurisdiction. As a result of the transfer, the Company utilized net operating losses carried forward and consequently released the valuation allowance on certain deferred tax assets, incurred a tax expense on capital gain, released certain deferred tax liabilities and recorded a deferred tax asset.
| December 31, |  |
| 2019 |  | 2018
Deferred tax assets | $ | 30,513 |  |  | $ | 12,309 |
Deferred tax liabilities | (52,509) |  |  | (44,140) |
Deferred tax liabilities, net | $ | (21,996) |  |  | $ | (31,831) |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the Company's effective tax rate to the statutory tax rate in Israel is as follows:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Income before taxes on income, as reported in the consolidated statements of income | $ | 234,273 |  |  | $ | 186,715 |  |  | $ | 129,660 |
Statutory tax rate in Israel | 23.0 | % |  | 23.0 | % |  | 24.0 | %
Preferred Enterprise / Preferred Technology Enterprise benefits (*) | (7.7) | % |  | (13.0) | % |  | (16.8) | %
Changes in valuation allowance | 0.7 | % |  | — |  |  | — | %
Earnings taxed under foreign law | 17.9 | % |  | (1.8) | % |  | (4.6) | %
Tax settlements and other adjustments | 5.8 | % |  | 7.0 | % |  | 14.3 | %
U.S. Tax Reform one-time adjustment |  |  |  | (1.6) | % |  | (23.9) |
Intangible assets transfer | (14.2) | % |  |  |  |  |
Other | (4.9) | % |  | 1.1 | % |  | (3.5) | %
Effective tax rate | 20.6 | % |  | 14.7 | % |  | (10.5) | %
(*)The effect of the benefit resulting from the "Preferred Enterprise/Preferred Technology Enterprise benefits " status on net earnings per ordinary share is as follows:
Schedule of Effect on Benefit Resulting from "Preferred Enterprise" Status on Net Earnings Per Ordinary Share |
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Basic | $ | 0.29 |  |  | $ | 0.39 |  |  | $ | 0.36 |
Diluted | $ | 0.28 |  |  | $ | 0.38 |  |  | $ | 0.35 |
Schedule of Income Before Income Taxes on Income | Income before taxes on income is comprised as follows:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Domestic | $ | 169,236 |  |  | $ | 193,664 |  |  | $ | 188,070 |
Foreign | 65,037 |  |  | (6,949) |  |  | (58,410) |
| $ | 234,273 |  |  | $ | 186,715 |  |  | $ | 129,660 |
Schedule of Taxes on Income (Tax Benefit) | Taxes on income (tax benefit) are comprised as follows:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Current | $ | 60,586 |  |  | $ | 57,549 |  |  | $ | 57,174 |
Deferred | (12,217) |  |  | (30,172) |  |  | (70,805) |
| 48,369 |  |  | 27,377 |  |  | (13,631) |
Domestic | 8,614 |  |  | 29,947 |  |  | 27,673 |
Foreign | 39,755 |  |  | (2,570) |  |  | (41,304) |
| $ | 48,369 |  |  | $ | 27,377 |  |  | $ | (13,631) |
Of which:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Domestic taxes: |  |  |  |  |
Current | $ | 29,075 |  |  | $ | 34,370 |  |  | $ | 22,808 |
Deferred | (20,461) |  |  | (4,423) |  |  | 4,865 |
| 8,614 |  |  | 29,947 |  |  | 27,673 |
Foreign taxes: |  |  |  |  |
Current | 31,196 |  |  | 23,179 |  |  | 34,366 |
Deferred | 8,559 |  |  | (25,749) |  |  | (75,670) |
| 39,755 |  |  | (2,570) |  |  | (41,304) |
Taxes on income (tax benefit) | $ | 48,369 |  |  | $ | 27,377 |  |  | $ | (13,631) |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits is as follows:
| December 31, |  |
| 2019 |  | 2018
Uncertain tax positions, beginning of year | $ | 58,560 |  |  | $ | 43,984 |
Increases/(Decreases) in tax positions for prior years | (3,443) |  |  | 5,121 |
Increases in tax positions for current year | 15,749 |  |  | 13,353 |
Settlements | — |  |  | (3,471) |
Expiry of the statute of limitations | (5,982) |  |  | (427) |
Uncertain tax positions, end of year | $ | 64,884 |  |  | $ | 58,560 |

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