v3.26.1
TAXES ON INCOME (Tables)
12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Deferred Tax Assets and Liabilities
 
 
December 31,
 
 
 
2025
   
2024
 
 
           
Carry forward tax losses
 
$
30.9
   
$
38.2
 
Employee stock based compensation
   
33.0
     
29.7
 
Deferred revenues
   
3.0
     
3.1
 
Tax credits
   
40.6
     
37.9
 
Unrealized loss on marketable securities
   
-
     
3.5
 
Accrued employee costs
   
13.3
     
15.7
 
Other
   
16.2
     
19.2
 
 
               
Deferred tax assets before valuation allowance
   
137.0
     
147.3
 
Valuation allowance – mainly in respect to carryforward losses
   
(1.0
)
   
(5.5
)
 
               
Deferred tax asset
   
136.0
     
141.8
 
 
               
Intangible assets
   
(24.3
)
   
(29.6
)
Deferred commission
   
(7.2
)
   
(10.4
)
Unrealized gain on marketable securities
   
(2.9
)
   
-
 
Other
   
(13.1
)
   
(8.8
)
 
               
Deferred tax liability
   
(47.5
)
   
(48.8
)
 
               
Deferred tax asset, net *)
 
$
88.5
   
$
93.0
 
  
*) As of December 31, 2025 and 2024 unrecognized tax benefit in the amounts of $20.2 and $18.3 was presented net from deferred tax asset.
Schedule of Income Before Taxes
 
 
Year ended
December 31,
 
 
 
2025
   
2024
   
2023
 
 
                 
Domestic
 
$
906.5
   
$
854.9
   
$
901.6
 
Foreign
   
38.6
     
117.2
     
74.0
 
 
                       
 
 
$
945.1
   
$
972.1
   
$
975.6
 
Schedule of Components of Income Tax Expense
 
 
Year ended
December 31,
 
 
 
2025
   
2024
   
2023
 
 
                 
Domestic taxes:
                 
Current
 
$
(112.6
)
 
$
120.5
   
$
140.6
 
Deferred
   
(3.6
)
   
(5.9
)
   
(23.0
)
 
                       
 
   
(116.2
)
   
114.6
     
117.6
 
 
                       
Foreign taxes:
                       
Current
   
11.8
     
16.4
     
13.1
 
Deferred
   
(7.4
)
   
(4.6
)
   
4.6
 
 
                       
 
   
4.4
     
11.8
     
17.7
 
 
                       
Taxes on income (tax benefit)
 
$
(111.8
)  
$
126.4
   
$
135.3
 
Schedule of Reconciliation Of Unrecognized Tax Benefits
 
 
December 31,
 
 
 
2025
   
2024
 
 
           
Beginning balance
 
$
402.8
   
$
380.4
 
Settlement and decrease related to tax positions taken during prior years
   
(162.9
)
   
(67.9
)
Increase related to tax positions taken during prior years
   
17.0
     
36.4
 
Increase related to tax positions taken during the current year
   
59.3
     
53.9
 
 
               
Ending balance
 
$
*)316.2
 
 
$
*)402.8
 
 
*) As of December 31, 2025 and 2024 unrecognized tax benefit in the amounts of $20.2 and $18.3 was presented net from deferred tax asset.
Schedule of Effective Income Tax Reconciliation
 
 
Year ended December 31,
 
 
 
2025
 
             
Israeli Statutory Corporate Tax Rate
 
$
217.4
     
23.0
%
Foreign tax effects
               
Other jurisdictions
   
13.8
     
1.5
%
Foreign tax credits
   
(17.9
)
   
(1.9
)%
Nontaxable or nondeductible items
   
0.4
     
0.1
%
Special Preferred Technological Enterprise
   
(170.9
)
   
(18.1
)%
Change in unrecognized tax benefits
   
(127.9
)
   
(13.5
)%
Special deduction
   
(31.1
)
   
(3.3
)%
Other adjustments
   
4.4
     
0.4
%
 
               
Total Effective Tax Rate
 
$
(111.8
)
   
(11.8
)%
 
 
Year ended December 31,
 
 
 
2024
   
2023
 
 
           
Income before taxes as reported in the consolidated statements of income
 
$
972.1
   
$
975.6
 
 
               
Statutory tax rate in Israel
   
23
%
   
23
%
 
               
Decrease in taxes resulting from:
               
Effect of “Technological preferred or Preferred Enterprise” status *)
   
(11
)%
   
(8
)%
Others, net
   
1
%
   
(1
)%
 
               
Effective tax rate
   
13
%
   
14
%
 
               
*)        Basic earnings per share amounts of the benefit resulting from the “Technological preferred or Preferred Enterprise” status
 
$
0.58
   
$
0.66
 
 
               
*)        Diluted earnings per share amounts of the benefit resulting from the “Technological preferred or Preferred Enterprise” status
 
$
0.56
   
$
0.65
 
Schedule Of Income Taxes Paid
 
 
Year ended
December 31,
 
 
 
2025
 
 
     
Israel
 
$
143.5
 
Other jurisdictions
   
13.2
 
 
       
 
 
$
156.7