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DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2022

General Discussion of Derivative Instruments and Hedging Activities [Abstract]

Schedule of Notional and Fair Value Amounts of Outstanding Derivative Instruments

			Notional amount												Fair value (Level 2 within the fair value hierarchy)
			December 31,												December 31,
			2022						2021						2022						2021
Forward contracts
expenses NIS			111,253						125,884						(7,862)						4,164
expenses INR			46,406						44,013						(1,379)						828
expenses PHP			11,235						705						651						(5)
			$	168,894					$	170,602					$	(8,590)					$	4,987

Schedule of Fair Value of Derivative Instruments by Balance Sheet Location

The fair value of the Company's outstanding derivative instruments at December 31, 2022 and 2021 is summarized below:

									Fair value of derivative instruments
									December 31,
			Balance sheet line item						2022						2021
Derivative assets:
Foreign exchange forward contracts			Prepaid expenses and other current assets						651						4,992
Derivative liabilities:
Foreign exchange forward contracts			Accrued expenses and other liabilities						$	(9,241)					$	(5)

Schedule of Effect of Derivative Instruments in Cash Flow Hedging Relationship on Income and Other Comprehensive Income

The effect of derivative instruments in cash flow hedging relationship on income and other comprehensive income for the years ended December 31, 2022, 2021 and 2020 is summarized below:

			Amount of gain (loss) recognized in other comprehensive income on derivative, net of tax (effective portion)
			Year Ended December 31,
			2022						2021						2020
Derivatives in foreign exchange cash flow hedging relationships:
Forward contracts			$	(18,223)					$	4,993					$	5,901
Option contracts			—						31						(947)
			$	(18,223)					$	5,024					$	4,954

Derivatives in foreign exchange cash flow hedging relationships for the years ended December 31, 2022, 2021 and 2020 is summarized below:

												Amount of gain (loss) reclassified from other comprehensive income into income (expenses), net of tax (effective portion)
												Year Ended December 31,
						Statements of income line item						2022						2021						2020
Option contracts to hedge payroll and facility expenses						Cost of revenues and operating expenses						$	—					$	(771)					$	(490)
Forward contracts to hedge payroll and facility expenses						Cost of revenues, operating expenses and financial expenses						7,189						(5,157)						(1,979)
												$	7,189					$	(5,928)					$	(2,469)

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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Tabular disclosure of derivative assets at fair value.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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