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SHORT-TERM AND LONG-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

SHORT-TERM AND LONG-TERM INVESTMENTS

SHORT-TERM AND LONG-TERM INVESTMENTS

Short-term and long-term investments include marketable securities in the amount of $1,012,282 and $735,717 as of December 31, 2020 and 2019, respectively and short-term bank deposits in the amounts of $9,331 and $17,444 as of December 31, 2020 and 2019 ,respectively.

The following table summarizes amortized costs, gross unrealized gains and losses and estimated fair values of available-for-sale marketable securities as of December 31, 2020 and 2019:

			Amortized cost												Gross unrealized gains												Gross unrealized losses												Estimated fair value (Level 2 within the fair value hierarchy)
			December 31,												December 31,												December 31,												December 31,
			2020						2019						2020						2019						2020						2019						2020						2019
Corporate debentures			$	973,029					$	687,886					$	15,016					$	4,865					$	(343)					$	(271)					$	987,702					$	692,480
U.S. Treasuries			17,613						23,182						418						82						—						(2)						18,031						23,262
U.S. Government Agencies			6,546						19,957						3						38						—						(20)						6,549						19,975
			$	997,188					$	731,025					$	15,437					$	4,985					$	(343)					$	(293)					$	1,012,282					$	735,717

As of December 31, 2020, the Company classified all of its available for sale marketable securities portfolio to short term presentation on the balance sheet, since the Company’s investment policy changed such that the portfolio is available for use in current operations.

The scheduled maturities of available-for-sale marketable securities as of December 31, 2020 are as follows:

			Amortized cost						Estimated fair value
Due within one year			$	135,533					$	136,391
Due after one year through five years			861,655						875,891
			$	997,188					$	1,012,282

Investments with continuous unrealized losses for less than 12 months and 12 months or greater and their related fair values as of December 31, 2020 and 2019 are as indicated in the following tables:

			December 31, 2020
			Investments with continuous unrealized losses for less than 12 months												Investments with continuous unrealized losses for 12 months or greater												Total Investments with continuous unrealized losses
			Fair value						Unrealized losses						Fair value						Unrealized losses						Fair value						Unrealized losses
Corporate debentures			$	194,587					$	(337)					$	8,590					$	(6)					$	203,177					$	(343)
U.S. Treasuries			2,936						—						—						—						2,936						—
			$	197,523					$	(337)					$	8,590					$	(6)					$	206,113					$	(343)

			December 31, 2019
			Investments with continuous unrealized losses for less than 12 months												Investments with continuous unrealized losses for 12 months or greater												Total Investments with continuous unrealized losses
			Fair value						Unrealized losses						Fair value						Unrealized losses						Fair value						Unrealized losses
Corporate debentures			$	70,733					$	(117)					$	48,658					$	(154)					$	119,391					$	(271)
U.S. Treasuries			—						—						5,005						(2)						5,005						(2)
U.S. Government Agencies			10,974						(20)						—						—						10,974						(20)
			$	81,707					$	(137)					$	53,663					$	(156)					$	135,370					$	(293)

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- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2324412

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI http://asc.fasb.org/subtopic&trid=2176304

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