0001178913-24-000717 | 10-K | XBRL Viewer | Solaredge Technologies INC

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MARKETABLE SECURITIES (Schedule of Available-For-Sale Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Available for-sale - matures within one year, amortized cost	$ 526,355	$ 246,327
Available for-sale - matures within one year, gross unrealized gains	1,363	0
Available for-sale - matures within one year, gross unrealized losses	(6,148)	(5,210)
Available for-sale - matures within one year, fair value	521,570	241,117
Available for-sale - matures after one year, amortized cost	409,241	672,488
Available for-sale - matures after one year, gross unrealized gains	3,171	80
Available for-sale - matures after one year, gross unrealized losses	(4,587)	(27,077)
Available for-sale - matures after one year, fair value	407,825	645,491
Amortized cost	935,596	918,815
Gross unrealized gains	4,534	80
Gross unrealized losses	(10,735)	(32,287)
Fair value	929,395	886,608
Corporate bonds [Member]
Marketable Securities [Line Items]
Available for-sale - matures within one year, amortized cost	487,083	222,482
Available for-sale - matures within one year, gross unrealized gains	679	0
Available for-sale - matures within one year, gross unrealized losses	(5,942)	(4,657)
Available for-sale - matures within one year, fair value	481,820	217,825
Available for-sale - matures after one year, amortized cost	342,223	657,238
Available for-sale - matures after one year, gross unrealized gains	1,902	80
Available for-sale - matures after one year, gross unrealized losses	(4,444)	(26,460)
Available for-sale - matures after one year, fair value	339,681	630,858
U.S. Treasury securities [Member]
Marketable Securities [Line Items]
Available for-sale - matures within one year, amortized cost	15,324	15,963
Available for-sale - matures within one year, gross unrealized gains	0	0
Available for-sale - matures within one year, gross unrealized losses	(63)	(284)
Available for-sale - matures within one year, fair value	15,261	15,679
Available for-sale - matures after one year, amortized cost	2,430	9,939
Available for-sale - matures after one year, gross unrealized gains	0	0
Available for-sale - matures after one year, gross unrealized losses	(22)	(261)
Available for-sale - matures after one year, fair value	2,408	9,678
U.S. Government agency securities [Member]
Marketable Securities [Line Items]
Available for-sale - matures within one year, amortized cost	8,787
Available for-sale - matures within one year, gross unrealized gains	11
Available for-sale - matures within one year, gross unrealized losses	(3)
Available for-sale - matures within one year, fair value	8,795
Available for-sale - matures after one year, amortized cost	44,100
Available for-sale - matures after one year, gross unrealized gains	107
Available for-sale - matures after one year, gross unrealized losses	(121)
Available for-sale - matures after one year, fair value	44,086
Non-U.S. Government securities[Member]
Marketable Securities [Line Items]
Available for-sale - matures within one year, amortized cost	15,161	7,882
Available for-sale - matures within one year, gross unrealized gains	673	0
Available for-sale - matures within one year, gross unrealized losses	(140)	(269)
Available for-sale - matures within one year, fair value	15,694	7,613
Available for-sale - matures after one year, amortized cost	20,488	5,311
Available for-sale - matures after one year, gross unrealized gains	1,162	0
Available for-sale - matures after one year, gross unrealized losses	0	(356)
Available for-sale - matures after one year, fair value	$ 21,650	$ 4,955

DEFERRED REVENUES (Schedule Estimated Revenues Expected To Recognized In Future To Performance Obligations) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Revenue Arrangement [Line Items]
Deferred revenues	$ 255,443	$ 213,577	$ 169,345	$ 140,020
2024 [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	40,836
2025 [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	13,786
2026 [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	13,417
2027 [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	11,314
2028 [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	10,084
Thereafter [Member]
Deferred Revenue Arrangement [Line Items]
Deferred revenues	$ 166,006

WARRANTY OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Product Warranties Disclosures [Abstract]

Schedule of Warranty Obligations

	December 31,
	2023			2022			2021
Balance, at the beginning of the period	$	385,057		$	265,160		$	204,994
Accruals for warranty during the period		250,266			211,202			127,057
Changes in estimates		20,017			1,914			7,685
Settlements		(137,096	)		(93,219	)		(74,576	)
Balance, at end of the period		518,244			385,057			265,160
Less current portion		(183,047	)		(103,975	)		(71,480	)
Long term portion	$	335,197		$	281,082		$	193,680

BUSINESS COMBINATIONS

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

BUSINESS COMBINATIONS

NOTE 3: BUSINESS COMBINATIONS

On April 6, 2023, the Company completed the acquisition of all outstanding shares of Hark Systems Ltd. ("Hark"), a UK-based energy IoT company for the commercial and industrial ("C&I") sector for approximately $18,346 in cash, out of which $1,245 held by the company for a period of one year. Hark's platform is expected to enable the Company to offer its commercial and industrial customers expanded capabilities in energy management and connectivity, including identification of potential energy savings, detection of anomalies in assets’ energy consumption, and optimization of energy usage and carbon emissions through load orchestration and storage control.

Pursuant to ASC 805, "Business Combination", the Company accounted for the Hark acquisition as a business combination using the acquisition method of accounting. Identifiable assets and liabilities of Hark, including identifiable intangible assets, were recorded based on their estimated fair values as of the date of the closing of the acquisition. The excess of the purchase price over the fair value of the net assets acquired was recorded as goodwill. The Company recorded preliminary estimates for the fair value of assets acquired and liabilities assumed as of the acquisition date. Such preliminary valuation required estimates and assumptions including, but not limited to, estimating future cash flows and direct costs in addition to developing the appropriate discount rates and current market profit margins. The Company’s management believes the fair values recognized for the assets acquired and the liabilities assumed were based on reasonable estimates and assumptions.

The following table summarizes the fair values estimation of assets acquired and liabilities assumed as of the date of the acquisition:

	Amount			Weighted Average Useful Life (In years)
Cash	$	448
Net liabilities assumed		(1,837	)
Identified intangible assets:
Current technology		6,576			5
Customer relationships		283			1
Trade name		610			5
Goodwill		12,266
Total	$	18,346

Acquisition costs were immaterial and are included in general and administrative expenses in the consolidated statements of income.

Goodwill generated from this acquisition was primarily attributable to the assembled workforce and expected post-acquisition synergies from combining Hark platform with the Company's product offering to its commercial and industrial customers. All of the Goodwill was assigned to the Solar segment (see Note 21). Goodwill was not deductible for tax purposes. The fair values of technology, customer relationships and trade name were derived by applying the multi-period excess earnings method, with-and-without method, and the relief-from-royalty method, respectively, all of which are under the income approach whose underlying inputs are considered Level 3. The fair values assigned to assets acquired and liabilities assumed were based on management's estimates and assumptions.

The results of Hark have been included in the Company's consolidated statements of income since the acquisition date and are not material. Pro forma financial information has not been presented because the impact of the acquisition was not material to the Company's statement of income.

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill activity

	Solar			Energy Storage			All other			Total
Goodwill at December 31, 2021	$	30,505		$	2,568		$	96,556		$	129,629
Changes during the year:
Foreign currency adjustments		(1,737	)		(147	)		(6,452	)		(8,336	)
Impairment losses		-			-			(90,104	)		(90,104	)
Goodwill at December 31, 2022		28,768			2,421			-			31,189
Changes during the year:
Acquisitions		12,266			-			-			12,266
Foreign currency adjustments		(402	)		(57	)		-			(459	)
Goodwill at December 31, 2023	$	40,632		$	2,364		$	-		$	42,996

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

CONVERTIBLE SENIOR NOTES (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 25, 2020 USD ($) d $ / shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Convertible Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Debt conversion, description		On September 25, 2020, the Company sold $632,500 aggregate principal amount of its 0.00% convertible senior notes due 2025 (the “Notes”). The Notes were sold pursuant to an indenture, dated September 25, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). The Notes do not bear regular interest and mature on September 15, 2025, unless earlier repurchased or converted in accordance with their terms. The Notes are general senior unsecured obligations of the Company.Holders may convert their Notes prior to the close of business on the business day immediately preceding June 15, 2025 in multiples of $1,000 principal amount, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business-day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Notes for each trading day of that five consecutive trading day period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events as described in the Indenture. In addition, holders may convert their Notes, in multiples of $1,000 principal amount, at their option at any time beginning on or after June 15, 2025, and prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Notes, without regard to the foregoing circumstances. The initial conversion rate for the Notes was 3.5997 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $277.80 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture.
Principal amount sold	$ 632,500
Coupon rate	0.00%
Maturity date	Sep. 15, 2025
Conversion amount	$ 1,000	$ 1,000
Conversion days \| d	30
Conversion rate \| $ / shares	$ 3.5997
Amount of conversion	$ 1,000
Conversion price \| $ / shares	$ 277.8
Amortization of debt discount and debt issuance costs		$ 2,930	$ 2,916	$ 2,903
Amortized term		1 year 8 months 12 days
Effective interest		0.47%
Senior Notes [Member] \| Level 2 [Member]
Debt Instrument [Line Items]
Estimated fair value of notes		$ 577,156

OTHER LONG TERM ASSETS (Schedule of Other Long Term Assets) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Other Assets, Noncurrent [Abstract]

Cloud computing arrangements

$ 13,666

$ 3,457

Severance pay fund

9,241

8,799

Investments in privately held companies

^[1]

7,650

1,863

^[2]

Loan receivables

2,438

Other

4,606

4,687

Total other long term assets

$ 37,601

$ 18,806

[1]

In January 2023, the Company completed an investment of $5,500 in the common stock of a privately-held company which represents 34.8% of its outstanding shares. The Company accounted for this investment using the equity method of accounting. The Company's share of net loss for the year ended December 31, 2023 was $350.

[2]

In April and July of 2023, the Company completed a total investment of $2,500 in the preferred stock of a privately-held company which represents 4.5% of its outstanding shares on a fully diluted basis. The Company accounted for this investment as an equity investment without readily determinable fair values. No impairment or other adjustments related to observable price changes in orderly transactions for identical or similar investments were identified.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of outstanding derivative instruments

	Balance sheet location	December 31, 2023		December 31, 2022
Derivative assets of options and forward contracts:
Designated cash flow hedges	Prepaid expenses and other current assets	$	4,477	$	-
Non-designated hedges	Prepaid expenses and other current assets		410		-
Total derivative assets		$	4,887	$	-
Derivative liabilities of options and forward contracts:
Designated cash flow hedges	Accrued expenses and other current liabilities	$	-	$	(1,874	)
Non-designated hedges	Accrued expenses and other current liabilities		-		-
Total derivative liabilities		$	-	$	(1,874	)

Schedule of gains (losses) on derivative instruments recognized in our income statements

		Year ended December 31,
	Affected line item	2023			2022			2021
Foreign exchange contracts
Non Designated Hedging Instruments	Consolidated Statements of Income - Financial income (expense), net	$	2,337		$	4,716		$	9,417
Designated Hedging Instruments	Consolidated Statements of Comprehensive Income - Cash flow hedges	$	(1,990	)	$	(8,965	)	$	3,289

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Summary of Revenues Within Geographic Areas) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Revenues from External Customers and Long-Lived Assets [Line Items]

Number of reportable segments

Total revenues

$ 2,976,528

$ 3,110,279

$ 1,963,865

United States [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

759,611

1,133,798

786,019

Europe [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

^[1]

661,542

528,197

297,684

Germany [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

692,047

449,160

191,066

Netherlands [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

326,314

382,226

222,103

Italy [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

223,943

330,565

181,644

Rest of the world [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total revenues

$ 313,071

$ 286,333

$ 285,349

[1]	Except for Germany, Netherlands and Italy

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

INTANGIBLE ASSETS, NET (schedule of acquired intangible assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-lived intangible assets:
Gross intangible assets	$ 56,382	$ 40,416
Less - accumulated amortization	(21,037)	(20,487)
Total intangible assets, net	35,345	19,929
Current Technology [Member]
Finite-lived intangible assets:
Gross intangible assets	26,990	29,196
Customer relationships [Member]
Finite-lived intangible assets:
Gross intangible assets	3,193	2,958
Trade names [Member]
Finite-lived intangible assets:
Gross intangible assets	624	3,287
Assembled workforce [Member]
Finite-lived intangible assets:
Gross intangible assets	3,575	3,575
Patents [Member]
Finite-lived intangible assets:
Gross intangible assets	$ 22,000	$ 1,400

FAIR VALUE MEASUREMENTS (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Level 1 [Member] \| Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 309,521	$ 695,004
Level 1 [Member] \| Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	22,311	25,149
Level 1 [Member] \| Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	6,636	62,959
Level 2 [Member] \| Derivative instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of liabilities	0	(1,874)
Level 2 [Member] \| Derivative instruments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	4,887	0
Level 2 [Member] \| Short-term corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	481,820	217,825
Level 2 [Member] \| Short-term marketable securities: U.S. Treasury securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	15,261	15,679
Level 2 [Member] \| Short-term marketable securities: U.S. Government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	8,795	0
Level 2 [Member] \| Short-term marketable securities: Non - U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	15,694	7,613
Level 2 [Member] \| Long-term corporate bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	339,681	630,858
Level 2 [Member] \| Long-term marketable securities: U.S. Treasury securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	2,408	9,678
Level 2 [Member] \| Long-term marketable securities: U.S. Government agency securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	44,086	0
Level 2 [Member] \| Long-term marketable securities: Non - U.S. Government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 21,650	$ 4,955

BUSINESS COMBINATIONS (Narrative) (Details) $ in Thousands	Apr. 06, 2023 USD ($)
Business Acquisition [Line Items]
Approximate cash acquisition	$ 18,346
Hark Systems Ltd [Member]
Business Acquisition [Line Items]
Approximate cash acquisition	18,346
Cash held by company for period of one year	$ 1,245

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

NOTE 16: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

	As of December 31,
	2023		2022
Accrued expenses	$	142,130	$	117,638
Government authorities		34,309		67,514
Operating lease liabilities		17,704		16,183
Accrual for sales incentives		5,862		6,790
Finance lease		3,253		3,263
Other		2,653		2,724
Total accrued expenses and other current liabilities	$	205,911	$	214,112

OTHER OPERATING EXPENSES, NET (Tables)

12 Months Ended

Dec. 31, 2023

Other Operating Income Expenses [Abstract]

Schedule of other operating expenses, net

	Year ended December 31,
	2023			2022			2021
Impairment of property, plant and equipment	$	25,168		$	649		$	2,209
Impairment of intangible assets¹		5,622			28,388			-
Gain on sale of assets		(1,262	)		(2,603	)		-
Legal settlements and contingencies²		1,786			-			-
SolarEdge Korea (formerly Kokam) purchase escrow³		-			-			(859	)
Total other operating expense, net	$	31,314		$	26,434		$	1,350

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Estimate Fair Value of Stock Options and Warrants) (Details) - Employee and Executive Director [Member]

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Employee Stock Option [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest

^[1]

0.00%

0.43%

Dividend yields

^[1]

0.00%

Volatility

^[1]

0.00%

60.74%

Expected option term in years

^[1]

0 years

5 years 5 months 23 days

Estimated forfeiture rate

^[1]

0.00%

ESPP [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Dividend yields

0.00%

Expected option term in years

6 months

ESPP [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest

5.38%

1.64%

0.03%

Volatility

56.44%

71.28%

48.39%

ESPP [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest

5.46%

4.70%

0.10%

Volatility

66.78%

71.97%

76.05%

PSU [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest

4.09%

1.77%

0.00%

Dividend yields

0.00%

Volatility

71.60%

67.42%

0.00%

Expected option term in years

3 years

PSU [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected option term in years

1 year

PSU [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expected option term in years

3 years

[1]	No new options were granted in 2023 and 2022.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Gains (Losses) on Derivative Instruments Recognized in our Income Statements) (Details) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-designated hedges [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Gains (losses) on derivative instruments	$ 2,337	$ 4,716	$ 9,417
Designated cash flow hedges [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Gains (losses) on derivative instruments	$ (1,990)	$ (8,965)	$ 3,289

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

	As of December 31,
	2023		2022
Accrued expenses	$	142,130	$	117,638
Government authorities		34,309		67,514
Operating lease liabilities		17,704		16,183
Accrual for sales incentives		5,862		6,790
Finance lease		3,253		3,263
Other		2,653		2,724
Total accrued expenses and other current liabilities	$	205,911	$	214,112

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 338,468	$ 783,112
Marketable securities	521,570	241,117
Trade receivables, net of allowances of $16,400 and $3,202, respectively	622,425	905,146
Inventories, net	1,443,449	729,201
Prepaid expenses and other current assets	378,394	241,082
Total current assets	3,304,306	2,899,658
LONG-TERM ASSETS:
Marketable securities	407,825	645,491
Deferred tax assets, net	80,912	44,153
Property, plant and equipment, net	614,579	543,969
Operating lease right-of-use assets, net	64,167	62,754
Intangible assets, net	35,345	19,929
Goodwill	42,996	31,189
Other long-term assets	37,601	18,806
Total long-term assets	1,283,425	1,366,291
Total assets	4,587,731	4,265,949
CURRENT LIABILITIES:
Trade payables, net	386,471	459,831
Employees and payroll accruals	76,966	85,158
Warranty obligations	183,047	103,975
Deferred revenues and customers advances	40,836	26,641
Accounts Payable and Other Accrued Liabilities, Current	205,911	214,112
Total current liabilities	893,231	889,717
LONG-TERM LIABILITIES:
Convertible senior notes, net	627,381	624,451
Warranty obligations	335,197	281,082
Deferred revenues	214,607	186,936
Finance lease liabilities	41,892	45,385
Operating lease liabilities	45,070	46,256
Other long-term liabilities	18,444	15,756
Total long-term liabilities	1,282,591	1,199,866
COMMITMENTS AND CONTINGENT LIABILITIES
STOCKHOLDERS' EQUITY:
Common stock of $0.0001 par value - Authorized: 125,000,000 shares as of December 31, 2023 and December 31, 2022; issued and outstanding:57,123,437 and 56,133,404 shares as of December 31, 2023 and December 31, 2022, respectively	6	6
Additional paid-in capital	1,680,622	1,505,632
Accumulated other comprehensive loss	(46,885)	(73,109)
Retained earnings	778,166	743,837
Total stockholders’ equity	2,411,909	2,176,366
Total liabilities and stockholders' equity	$ 4,587,731	$ 4,265,949

RESTRUCTURING AND OTHER EXIT ACTIVITIES (Schedule of liability balance for the restructuring and other exit charges) (Details)
$ in Thousands

12 Months Ended

Dec. 31, 2023

USD ($)

Employee termination costs [Member]

Restructuring Reserve [Roll Forward]

Balance as of January 1, 2023

$ 0

Charges

2,862

Cash payments

(548)

Foreign currency adjustments

Balance as of December 31, 2023

2,373

Inventory write-off [Member]

Restructuring Reserve [Roll Forward]

Balance as of January 1, 2023

^[1]

Charges

27,158

^[1]

Cash payments

^[1]

Foreign currency adjustments

616

^[1]

Balance as of December 31, 2023

27,774

^[1]

Contract termination and other [Member]

Restructuring Reserve [Roll Forward]

Balance as of January 1, 2023

Charges

30,169

Cash payments

Foreign currency adjustments

224

Balance as of December 31, 2023

$ 30,393

[1]	Inventory write-down is included under Inventories, net on the balance sheet.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of deferred tax liabilities and assets

	December 31,
	2023			2022
Deferred tax assets, net:
Research and Development carryforward expenses	$	25,527		$	9,335
Carryforward tax losses⁽¹⁾		44,294			19,916
Stock based compensation expenses		28,715			9,863
Deferred revenue		13,244			8,954
Lease liabilities		12,872			6,520
Inventory Impairment		11,136			627
Foreign currency translation		4,985			6,987
Allowance and other reserves		17,367			23,255
Total Gross deferred tax assets, net	$	158,140		$	85,457
Less, Valuation Allowance		(51,245	)		(23,777	)
Total deferred tax assets, net	$	106,895		$	61,680
Deferred tax liabilities, net:
Intercompany transactions	$	(4,470	)	$	(6,292	)
Right-of-use assets		(13,353	)		(6,618	)
Purchase price allocation		(4,129	)		(4,617	)
Property, plant and equipment		(5,481	)		-
Total deferred tax liabilities, net	$	(27,433	)	$	(17,527	)
Recorded as:
Deferred tax assets, net	$	80,912		$	44,153
Deferred tax liabilities, net		(1,450	)		-
Net deferred tax assets	$	79,462		$	44,153

Schedule of Uncertain Tax Positions

e.	Uncertain tax positions are comprised as follows:

	December 31,
	2023			2022		2021
Balance, at the beginning of the period	$	2,756		$	2,192	$	10,564
Increases related to current year tax positions		1,502			564		635
Increase for tax positions related to prior years		11,778			-		-
Decreases related to prior year tax positions		(128	)		-		(9,007	)
Balance, at end of the period	$	15,908		$	2,756	$	2,192

Schedule of Income (Loss) Before Taxes

f.	Income before income taxes are comprised as follows:

	Year ended December 31,
	2023		2022		2021
Domestic	$	49,758	$	47,324	$	13,659
Foreign		31,341		129,831		173,565
Income before income taxes	$	81,099	$	177,155	$	187,224

Schedule of Income taxes

g.	Income taxes (tax benefit) are comprised as follows:

	Year ended December 31,
	2023			2022			2021
Current taxes:
Domestic	$	42,960		$	56,958		$	(7,872	)
Foreign		46,531			37,473			37,564
Total current taxes		89,491			94,431			29,692
Deferred taxes:
Domestic		(2,244	)		(8,955	)		(3,682	)
Foreign		(40,827	)		(2,100	)		(7,956	)
Total deferred taxes		(43,071	)		(11,055	)		(11,638	)
Income taxes, net	$	46,420		$	83,376		$	18,054

Schedule of Reconciliation Between the Theoretical Tax Expense and the Actual Tax Expense (Benefit)

A reconciliation between the theoretical tax expense and the actual tax expense as reported in the consolidated statements of income is as follows:

	Year ended December 31,
	2023			2022			2021
Statutory tax rate		21	%		21	%		21	%
Effect of:
Income tax at rate other than the U.S. statutory tax rate		(37.3	)%		(10.8	)%		(7.4	)%
Losses and timing differences for which valuation allowance was provided		27.7	%		5.2	%		2.7	%
Prior year income taxes (benefit)		(1.0	)%		2.9	%		(4.4	)%
R&D Capitalization and other effects of TCJA		42.5	%		18.9	%		0.1	%
Non-deductible expenses		4.5	%		13.2	%		2.0	%
Other individually immaterial income tax items, net		(0.2	)%		(3.3	)%		(4.4	)%
Effective tax rate		57.2	%		47.1	%		9.6	%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Allowance for Credit Losses

	Year Ended December 31, 2023
Balance, at beginning of the period	$	3,202
Increase in provision for expected credit losses		13,760
Recoveries collected		(134	)
Amounts written off charged against the allowance		(568	)
Foreign currency translation		140
Balance, at end of the period	$	16,400

Schedule of Estimated Useful Lives of Property and Equipment

		%
Buildings and plants		2.5-5.7 (mainly 2.5)
Computers and peripheral equipment		14.3-33.3 (mainly 33.3)
Office furniture and equipment		7-25 (mainly 7)
Machinery and equipment		10-25 (mainly 10)
Laboratory and testing equipment		10-20 (mainly 10)
Leasehold improvements		over the shorter of the lease term or useful economic life

Employee Stock Option [Member] | Employees and Members of Board of Directors [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Assumptions Used to Estimate Fair Value of Stock Options and Warrants

	Year ended December 31,
	2023	2022	2021
Employee Stock Options ⁽¹⁾
Risk-free interest	-	-	0.43%
Dividend yields	-	-	0%
Volatility	-	-	60.74%
Expected option term in years	-	-	5.48
Estimated forfeiture rate	-	-	0%
ESPP
Risk-free interest	5.38% - 5.46%	1.64% - 4.70%	0.03% - 0.10%
Dividend yields	0%	0%	0%
Volatility	56.44% - 66.78%	71.28% - 71.97%	48.39% - 76.05%
Expected term	6 months	6 months	6 months
PSU
Risk-free interest	4.09%	1.77%	-
Dividend yields	0%	0%	-
Volatility	71.60%	67.42%	-
Expected term	3 years	1 - 3 years	-

⁽¹⁾ No new options were granted in 2023 and 2022.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

LEASES (Schedule of Operating and Finance lease liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating leases
2024	$ 17,933
2025	10,693
2026	6,585
2027	5,209
2028	4,479
Thereafter	30,169
Total lease payments	75,068
Less amount of lease payments representing interest	(12,294)
Present value of future lease payments	62,774
Less current lease liabilities	(17,704)
Long-term lease liabilities	45,070	$ 46,256
Finance lease
2024	3,288
2025	3,452
2026	3,452
2027	4,017
2028	3,155
Thereafter	36,087
Total lease payments	53,451
Less amount of lease payments representing interest	(8,306)
Present value of future lease payments	45,145
Less current lease liabilities	(3,253)
Finance lease liabilities	$ 41,892	$ 45,385

OTHER LONG TERM LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Schedule of Other Long Term Liabilities

	As of December 31,
	2023		2022
Tax liabilities	$	3,577	$	3,830
Accrued severance pay		12,967		9,848
Other		1,900		2,078
	$	18,444	$	15,756

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 28: SUBSEQUENT EVENTS

In January 2024, the Company entered into an agreement to acquire minority shares in Ampeers Energy GmbH ("Ampeers") from existing shareholders as well as through a share capital increase. Ampeers, a German-based company, is involved in the programming, operation and marketing of an information and communications technology platform. The investment is subject to customary closing conditions and regulatory approvals and is expected to close during the first half of 2024.

Also in January 2024, the Company completed a minority investment in Ivy Energy, a U.S. company that provides software to real estate owners for distribution of solar energy between multi dwelling units.

On January 21, 2024, the Company announced adoption of additional measures in response to challenging industry conditions, including reducing its headcount by approximately 16% over the first half of 2024 through an involuntary workforce reduction plan. These decisions were made in order to better align the Company with current market conditions. The significant part of the workforce reduction occurred in January 2024.

OTHER LONG TERM ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Schedule of other long term assets

	As of December 31,
	2023		2022
Cloud computing arrangements	$	13,666	$	3,457
Severance pay fund		9,241		8,799
Investments in privately held companies¹		7,650		1,863
Loan receivables		2,438		-
Prepaid expenses and other		4,606		4,687
Total other long term assets	$	37,601	$	18,806

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Statement of Stockholders' Equity [Abstract]
Underwriters discounts and commissions	$ 27,140
Offering costs	$ 834

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Lessee Disclosure [Abstract]

Schedule of Lease-related Assets and Liabilities

Description	Classification on the consolidated Balance Sheet	2023		2022
Assets:
Operating lease assets, net of lease incentive obligation	Operating lease right-of use assets, net	$	64,167	$	62,754
Finance lease assets	Property, plant and equipment, net		49,926		52,934
Total lease assets		$	114,093	$	115,688
Liabilities:
Operating leases short term	Accrued expenses and other current liabilities	$	17,704	$	16,183
Finance leases short term	Accrued expenses and other current liabilities		3,253		3,263
Operating leases long term	Operating lease liabilities		45,070		46,256
Finance leases long term	Finance lease liabilities		41,892		45,385
Total lease liabilities		$	107,919	$	111,087

Schedule of Information Related to Operating Finance Leases

	Year ended December 31,
	2023			2022
Finance leases:
Finance lease cost	$	4,154		$	4,196
Weighted average remaining lease term in years		14.99			16.28
Weighted average annual discount rate		2.30	%		2.30	%
Operating leases:
Operating lease cost	$	18,479		$	15,901
Weighted average remaining lease term in years		9.50			8.33
Weighted average annual discount rate		3.68	%		2.17	%

Schedule of Supplemental Cash Flow Information Related to Leases

	Year ended December 31,
	2023		2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows for operating leases	$	17,930	$	16,343
Operating cash flows for finance leases	$	373	$	420
Financing cash flows for finance leases	$	2,794	$	2,834

Schedule of Operating and Finance lease liabilities

	Operating Leases			Finance Leases
2024	$	17,933		$	3,288
2025		10,693			3,452
2026		6,585			3,452
2027		5,209			4,017
2028		4,479			3,155
Thereafter		30,169			36,087
Total lease payments	$	75,068		$	53,451
Less amount of lease payments representing interest		(12,294	)		(8,306	)
Present value of future lease payments	$	62,774		$	45,145
Less current lease liabilities		(17,704	)		(3,253	)
Long-term lease liabilities	$	45,070		$	41,892

OTHER LONG TERM LIABILITIES

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

OTHER LONG TERM LIABILITIES

NOTE 18: OTHER LONG TERM LIABILITIES

	As of December 31,
	2023		2022
Tax liabilities	$	3,577	$	3,830
Accrued severance pay		12,967		9,848
Other		1,900		2,078
	$	18,444	$	15,756

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 34,329	$ 93,779	$ 169,170
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	57,196	49,676	39,535
Loss (gain) from exchange rate fluctuations	(26,878)	9,527	21,131
Stock-based compensation expenses	149,945	145,539	102,593
Impairment of goodwill and long-lived assets	30,790	119,141	0
Deferred income taxes, net	(43,071)	(11,055)	(12,045)
Other items	8,164	4,382	11,931
Changes in assets and liabilities:
Inventories, net	(690,854)	(341,085)	(43,051)
Prepaid expenses and other assets	(91,523)	(64,991)	(39,444)
Trade receivables, net	296,429	(457,610)	(247,723)
Trade payables, net	(67,795)	194,524	91,709
Employees and payroll accruals	21,419	26,238	26,519
Warranty obligations	133,090	120,169	60,524
Deferred revenues and customers advances	39,632	44,376	29,936
Accrued expenses and other liabilities, net	(30,986)	98,674	3,344
Net cash provided by (used in) operating activities	(180,113)	31,284	214,129
Cash flows from investing activities:
Investment in available-for-sale marketable securities	(296,396)	(507,171)	(579,377)
Proceeds from sales and maturities of available-for-sale marketable securities	280,189	231,210	202,188
Purchase of property, plant and equipment	(170,523)	(169,341)	(149,251)
Disbursements for loans receivables	(58,000)	0	0
Business combinations, net of cash acquired	(16,653)	0	0
Purchase of intangible assets	(10,600)	0	0
Investment in a privately-held company	(8,000)	0	(16,643)
Proceeds from governmental grant	6,794	4,479	0
Proceeds from sale of a privately-held company	1,313	24,362	0
Withdrawal from bank deposits, net	0	0	60,096
Other investing activities	2,982	(583)	(1,224)
Net cash used in investing activities	(268,894)	(417,044)	(484,211)
Cash flows from financing activities:
Tax withholding in connection with stock-based awards, net	(9,259)	3,023	(4,283)
Payments of finance lease liability	(2,794)	(2,834)	(1,308)
Proceeds from secondary public offering, net of issuance costs	0	650,526	0
Repayment of bank loans	(129)	(138)	(16,073)
Other financing activities	226	4,030	6,486
Net cash provided by (used in) financing activities	(11,956)	654,607	(15,178)
Increase (decrease) in cash and cash equivalents	(460,963)	268,847	(285,260)
Cash and cash equivalents at the beginning of the period	783,112	530,089	827,146
Effect of exchange rate differences on cash and cash equivalents	16,319	(15,824)	(11,797)
Cash and cash equivalents at the end of the period	338,468	783,112	530,089
Supplemental disclosure of non-cash activities:
Purchase of intangible assets and business combinations	11,307	0	0
Right-of-use asset recognized with corresponding lease liability	18,077	46,004	20,526
Purchase of property, plant and equipment	6,323	16,016	10,781
Supplemental disclosure of cash flow information:
Cash paid for income taxes	$ 137,981	$ 74,689	$ 45,977

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 2,976,528	$ 3,110,279	$ 1,963,865
Cost of revenues	2,272,705	2,265,631	1,334,547
Gross profit	703,823	844,648	629,318
Operating expenses:
Research and development	321,482	289,814	219,633
Sales and marketing	164,318	159,680	119,000
General and administrative	146,504	112,496	82,196
Goodwill impairment	0	90,104	0
Other operating expenses, net	31,314	26,434	1,350
Total operating expenses	663,618	678,528	422,179
Operating income	40,205	166,120	207,139
Financial income (expense), net	41,212	3,750	(20,014)
Other income (loss), net	(318)	7,285	99
Income before income taxes	81,099	177,155	187,224
Income taxes	46,420	83,376	18,054
Net loss from equity method investments	350	0	0
Net income	$ 34,329	$ 93,779	$ 169,170
Net basic earnings per share of common stock	$ 0.61	$ 1.7	$ 3.24
Net diluted earnings per share of common stock	$ 0.6	$ 1.65	$ 3.06
Weighted average number of shares used in computing net basic earnings per share of common stock	56,557,106	55,087,770	52,202,182
Weighted average number of shares used in computing net diluted earnings per share of common stock	57,237,518	58,100,649	55,971,030

LEASES (Schedule of Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Paid For Amounts Included In Measurement Of Lease Liabilities [Abstract]
Operating cash flows for operating leases	$ 17,930	$ 16,343
Operating cash flows for finance leases	373	420
Finance Lease, Interest Payment on Liability	$ 2,794	$ 2,834

OTHER OPERATING EXPENSES, NET (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Solaredge Korea Formerly Kokam Acquisition [Member]
Other Operating Income Expenses [Line Items]
A settlement of pre-acquisition legal claim against Kokam	$ 859

COMMITMENTS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 20: COMMITMENTS AND CONTINGENT LIABILITIES

a.	Guarantees:

As of December 31, 2023, contingent liabilities exist regarding guarantees in the amounts of $6,123 and $1,946 in respect of office rent lease agreements and customs and other transactions, respectively.

b.	Contractual purchase obligations:

The Company has contractual obligations to purchase goods and raw materials. These contractual purchase obligations relate to inventories and other purchase orders, which cannot be canceled without penalty. In addition, the Company acquires raw materials or other goods and services, including product components, by issuing authorizations to its suppliers to purchase materials based on its projected demand and manufacturing needs.

As of December 31, 2023, the Company had non-cancelable purchase obligations totaling approximately $1,041,253, out of which the Company recorded a provision for loss in the amount of $24,963.

As of December 31, 2023, the Company had contractual obligations for capital expenditures totaling approximately $95,499. These commitments reflect purchases of automated assembly lines and other machinery related to the Company’s manufacturing process.

c.	Legal claims:

From time to time, the Company may be involved in various claims and legal proceedings. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. These accruals are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter.

On November 3, 2023, Daphne Shen, a purported stockholder of the Company, filed a proposed class action complaint for violation of federal securities laws, individually and putatively on behalf of all others similarly situated, in the U.S District Court of the Southern District of New York against the Company, the Company’s CEO and the Company’s CFO. The complaint alleges violations of Section 10(b) and Rule 10b-5 of the Exchange Act, as well as violations of Section 20(a) of the Exchange Act against the individual defendants. The complaint seeks class certification, damages, interest, attorneys’ fees, and other relief. On December 13, 2023, Javier Cascallar filed a similar proposed class action. On February 7, 2024, the Court consolidated the two actions, and appointed co-lead plaintiffs and lead counsel. Due to the early stage of this proceeding, the Company cannot reasonably estimate the potential range of loss, if any, or the likelihood of a potential adverse outcome. The Company disputes the allegations of wrongdoing and intends to vigorously defend against them.

In August 2019, the Company was served with a lawsuit filed in the civil courts of Milan, Italy against the Italian subsidiary of SolarEdge e-Mobility S.r.l (previously SMRE S.p.A) that purchased the shares of SolarEdge e-Mobility in the tender offer that followed the SolarEdge e-Mobility Acquisition by certain former shareholders of SolarEdge e-Mobility who tendered their shares. The lawsuit asked for damages of approximately $3,000, representing the difference between the amount for which they tendered their shares (6 Euro per share) and 6.7 Euros per share. In December 2023 the court of Milan, rendered a decision ordering SolarEdge to pay, in favor of each plaintiff, the difference between the price paid (6 Euro per share) and 6.44 Euro per share, i.e. 0.44 euros per share. The Company is currently evaluating whether to appeal this decision.

As of December 31, 2023, the Company recorded an accrual of $2,011 for legal claims which was recorded under accrued expenses and other current liabilities.

GENERAL	12 Months Ended
GENERAL	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1: GENERAL SolarEdge Technologies, Inc. (the “Company”) and its subsidiaries design, develop, and sell an intelligent inverter solution designed to maximize power generation at the individual photovoltaic (“PV”) module level while lowering the cost of energy produced by the solar PV system and providing comprehensive and advanced safety features. The Company’s products consist mainly of (i) power optimizers designed to maximize energy throughput from each and every module through constant tracking of Maximum Power Point individually per module, (ii) inverters which invert direct current (DC) from the PV module to alternating current (AC) including the Company's future ready energy hub inverter which supports, among other things, connection to a DC-coupled battery for full or partial home backup capabilities, and optional connection to the Company's smart EV charger, (iii) a remote cloud-based monitoring platform, that collects and processes information from the power optimizers and inverters to enable customers and system owners, to monitor and manage the solar PV system (iv) batteries for PV applications that are used to increase energy independence and maximize self-consumption for PV system's owners including a battery ,and (v) additional smart energy management solutions. The Company and its subsidiaries sell products worldwide through large distributors, electrical equipment wholesalers, as well as directly to large solar installers and engineering, procurement and construction firms. The Company has expanded its activity to other areas of smart energy technology organically and through acquisitions. The Company offers a variety of energy solutions, which include lithium-ion cells, batteries and energy storage systems (“Energy Storage”), full powertrain kits and batteries for electric vehicles, or EVs (“e-Mobility”), as well as automated machines for industrial use (“Automation Machines”). On April 6, 2023, the Company completed the acquisition of all outstanding shares of Hark Systems Ltd. ("Hark"), a UK-based energy IoT company for the commercial and industrial ("C&I") sector. In October 2023, the Company decided to discontinue its light commercial vehicle e-Mobility ("LCV") activity (see Note 24).

FINANCIAL INCOME (EXPENSE), NET (Tables)

12 Months Ended

Dec. 31, 2023

Nonoperating Income (Expense) [Abstract]

Schedule of Financial Expenses (Income), Net

	Year ended December 31,
	2023			2022			2021
Exchange rate (loss) gain, net	$	24,181		$	(1,547	)	$	(22,493	)
Interest income on marketable securities		25,668			10,551			2,973
Convertible note		(2,930	)		(2,916	)		(2,903	)
Hedging		2,337			4,716			9,417
Financing component expenses related to ASC 606		(9,773	)		(7,038	)		(5,771	)
Bank charges		(1,418	)		(1,584	)		(1,991	)
Interest income		7,494			2,932			788
Interest expense		(1,269	)		(1,530	)		(605	)
Other		(3,078	)		166			571
Total financial income (expenses), net	$	41,212		$	3,750		$	(20,014	)

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 7: PROPERTY, PLANT AND EQUIPMENT, NET

	As of December 31,
	2023		2022
Cost:
Land	$	12,823	$	13,070
Buildings and plants		153,813		152,218
Computers and peripheral equipment		57,527		46,376
Office furniture and equipment		10,992		10,911
Laboratory and testing equipment		67,248		58,454
Machinery and equipment		362,363		315,155
Leasehold improvements		96,730		85,147
Assets under construction and payments on account		88,077		47,168
Gross property, plant and equipment		849,573		728,499
Less - accumulated depreciation		234,994		184,530
Total property, plant and equipment, net	$	614,579	$	543,969

Depreciation expenses for the years ended December 31, 2023, 2022 and 2021, were $49,544, $40,580 and $29,359, respectively.

For the year ended December 31, 2023, impairment loss of $25,168 was recorded as a result of Company's decision to discontinue its LCV activity and other restructuring efforts related to the Solar segment (see Note 23).

Impairment losses for the years ended December 31, 2022, and 2021, were $649 and $2,113, respectively.

DEFERRED REVENUES (Schedule of Balances of Deferred Revenues) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Balance, at the beginning of the period	$ 213,577	$ 169,345	$ 140,020
Revenue recognized	(29,650)	(23,017)	(26,093)
Increase in deferred revenues and customer advances	71,516	67,249	55,418
Balance, at the end of the period	255,443	213,577	169,345
Less current portion	(40,836)	(26,641)	(17,789)
Long term portion	$ 214,607	$ 186,936	$ 151,556

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income Loss [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 21: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

	Unrealized gains (losses) on available-for-sale marketable securities			Unrealized gains (losses) on cash flow hedges			Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature			Unrealized gains (losses) on foreign currency translation			Total
Beginning balance as of January 1, 2021	$	240		$	-		$	-		$	3,617		$	3,857
Revaluation		(6,283	)		3,735			(17,420	)		(9,681	)		(29,649	)
Tax on revaluation		1,346			(446	)		-			-			900
Other comprehensive income (loss) before reclassifications		(4,937	)		3,289			(17,420	)		(9,681	)		28,749
Reclassification		(16	)		(2,742	)		-			-			(2,758	)
Tax on reclassification		4			327			-			-			331
Gains reclassified from accumulated other comprehensive income		(12	)		(2,415	)		-			-			(2,427	)
Net current period other comprehensive income (loss)		(4,949	)		874			(17,420	)		(9,681	)		(31,176	)
Ending balance as of December 31, 2021	$	(4,709	)	$	874		$	(17,420	)	$	(6,064	)	$	(27,319	)
Revaluation		(26,944	)		(9,890	)		(20,540	)		(1,875	)		(59,249	)
Tax on revaluation		5,583			925			-			-			6,508
Other comprehensive income (loss) before reclassifications		(21,361	)		(8,965	)		(20,540	)		(1,875	)		(52,741	)
Reclassification		736			7,024			-			-			7,760
Tax on reclassification		(115	)		(694	)		-			-			(809	)
Losses reclassified from accumulated other comprehensive income		621			6,330			-			-			6,951
Net current period other comprehensive loss		(20,740	)		(2,635	)		(20,540	)		(1,875	)		(45,790	)
Ending balance as of December 31, 2022	$	(25,449	)	$	(1,761	)	$	(37,960	)	$	(7,939	)	$	(73,109	)
Revaluation		25,898			(1,973	)		(5,375	)		5,409			23,959
Tax on revaluation		(5,487	)		(17	)		-			-			(5,504	)
Other comprehensive income (loss) before reclassifications		20,411			(1,990	)		(5,375	)		5,409			18,455
Reclassification		107			8,325			-			-			8,432
Tax on reclassification		(29	)		(634	)		-			-			(663	)
Losses reclassified from accumulated other comprehensive income		78			7,691			-			-			7,769
Net current period other comprehensive income (loss)		20,489			5,701			(5,375	)		5,409			26,224
Ending balance as of December 31, 2023	$	(4,960	)	$	3,940		$	(43,335	)	$	(2,530	)	$	(46,885	)

The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021:

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)									Affected Line Item in the Statement of Income
	2023			2022			2021
Unrealized gains (losses) on available-for-sale marketable securities
	$	(107	)	$	(736	)	$	16		Financial income (expenses), net
		29			115			(4	)	Income taxes
	$	(78	)	$	(621	)	$	12		Total, net of income taxes
Unrealized gains (losses) on cash flow hedges
		(964	)		(801	)		333		Cost of revenues
		(4,981	)		(4,142	)		1,645		Research and development
		(1,057	)		(959	)		334		Sales and marketing
		(1,323	)		(1,122	)		430		General and administrative
	$	(8,325	)	$	(7,024	)	$	2,742		Total, before income taxes
		634			694			(327	)	Income taxes
		(7,691	)		(6,330	)		2,415		Total, net of income taxes
Total reclassifications for the period	$	(7,769	)	$	(6,951	)	$	2,427

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Vendor non-trade receivables

^[1]

$ 102,991

$ 147,597

Government authorities

167,221

55,670

Loan receivables

^[2]

55,418

Interest from marketable securities

7,515

6,235

Prepaid expenses and other

45,249

31,580

Total prepaid expenses and other current assets

$ 378,394

$ 241,082

[1]	Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products, components and other testing equipment for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues.
[2]	Loan receivables is a loan to third parties. The loan will be repaid on a monthly basis with an additional agreed interest for the long term portion of the loan.

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION

NOTE 27: SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION

a.	Segment Information:

Following the discontinuation of the Critical Power segment in June 2022, the Company operated in four different operating segments: Solar, Energy Storage, e-Mobility and Automation Machines. In October 2023, the Company decided to discontinue its LCV activity.

The Company's Chief Executive Officer, who is the chief operating decision maker (“CODM”), makes resource allocation decisions and assesses performance based on financial information presented on a consolidated basis, accompanied by disaggregated information about revenues and contributed profit by the operating segments.

The Company does not allocate to its operating segments revenue recognized due to advance payments received for performance obligations that extend for a period greater than one year (“financing component”), related to Accounting Standard Codification 606, “Revenue from Contracts with Customers” (ASC 606).

Segment profit (loss) is comprised of gross profit for the segment less operating expenses that do not include amortization and impairment of purchased intangible assets, stock based compensation expenses, restructuring charges, discontinued activity charges and certain other items.

The Company manages its assets on a group basis, not by segments, as many of its assets are shared or co-mingled. The Company’s CODM does not regularly review asset information by segments and, therefore, the Company does not report asset information by segment.

The Company identified two operating segments as reportable – the Solar segment and the Energy Storage segment. The other operating segments are insignificant individually and therefore their results are presented together under “All other”.

The Solar segment includes the design, development, manufacturing, and sales of an intelligent inverter solution designed to maximize power generation at the individual PV module level and batteries for PV applications. The Solar segment solution consists mainly of the Company’s power optimizers, inverters, batteries and cloud‑based monitoring platform.

The Energy Storage segment includes the design, development, manufacturing, and sales of high-energy, high-power, lithium-ion cells and racks and containerized battery systems for C&I and Utility markets. The Energy Storage segment provides purpose-built components and solutions, hardware and software, as well as pre and post sales engineering support to design, build, and manage battery and system solutions according to the customer’s use cases and mission profiles.

The “All other” category includes the e-Mobility products, automated machines and UPS products (in prior periods).

The following tables presents information on reportable segments profit (loss) for the period presented:

	Year ended December 31, 2023
	Solar		Energy Storage			All other
Revenues	$	2,815,539	$	83,717		$	76,438
Cost of revenues		1,994,578		112,518			75,469
Gross profit (loss)		820,961		(28,801	)		969
Research and development		226,776		17,370			9,403
Sales and marketing		126,207		3,539			2,654
General and administrative		103,461		10,409			3,286
Segments profit (loss)	$	364,517	$	(60,119	)	$	(14,374	)

	Year ended December 31, 2022
	Solar		Energy Storage			All other
Revenues	$	2,921,175	$	76,325		$	112,165
Cost of revenues		2,050,147		63,752			118,171
Gross profit (loss)		871,028		12,573			(6,006	)
Research and development		196,381		15,108			13,908
Sales and marketing		118,154		4,095			5,592
General and administrative		69,631		7,233			5,768
Segments profit (loss)	$	486,862	$	(13,863	)	$	(31,274	)

	Year ended December 31, 2021
	Solar		Energy Storage		All other
Revenues	$	1,787,280	$	83,430	$	92,737
Cost of revenues		1,136,896		61,099		108,483
Gross profit (loss)		650,384		22,331		(15,746	)
Research and development		143,173		10,289		20,217
Sales and marketing		85,309		3,698		6,232
General and administrative		53,156		5,841		7,695
Segments profit (loss)	$	368,746	$	2,503	$	(49,890	)

The following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:

	Year ended December 31,
	2023		2022		2021
Solar segment revenues	$	2,815,539	$	2,921,175	$	1,787,280
Energy Storage segment revenues		83,717		76,325		83,430
All other segment revenues		76,438		112,165		92,737
Revenues from financing component		834		614		418
Consolidated revenues	$	2,976,528	$	3,110,279	$	1,963,865

The following table presents information on reportable segments reconciliation to consolidated operating income for the periods presented:

	Year ended December 31,
	2023			2022			2021
Solar segment profit	$	364,517		$	486,862		$	368,746
Energy Storage segment profit (loss)		(60,119	)		(13,863	)		2,503
All other segment loss		(14,374	)		(31,274	)		(49,890	)
Segments operating profit		290,024			441,725			321,359
Amounts not allocated to segments:
Stock based compensation expenses		(149,945	)		(145,539	)		(102,593	)
Amortization and depreciation of acquired assets		(7,969	)		(9,478	)		(10,812	)
Impairment of goodwill and long-lived assets		(30,790	)		(119,141	)		-
Restructuring and other exit activities		(60,189	)		(4,314	)		-
Other unallocated income (expenses), net		(926	)		2,867			(815	)
Consolidated operating income	$	40,205		$	166,120		$	207,139

b.	Revenues by geographic, based on customers’ location:

	Year ended December 31,
	2023		2022		2021
United States	$	759,611	$	1,133,798	$	786,019
Europe^(*)		661,542		528,197		297,684
Germany		692,047		449,160		191,066
Netherlands		326,314		382,226		222,103
Italy		223,943		330,565		181,644
Rest of the world		313,071		286,333		285,349
Total revenues	$	2,976,528	$	3,110,279	$	1,963,865

(*) Except for Germany, Netherlands and Italy

c.	Revenues by type:

	Year ended December 31,
	2023		2022		2021
Inverters	$	1,374,026	$	1,137,142	$	828,101
Optimizers		902,411		1,135,040		828,542
Batteries for PV applications		378,275		429,119		19,531
e-Mobility components and telematics		68,425		94,446		68,946
Communication		32,945		72,812		24,111
Others		220,446		241,720		194,634
Total revenues	$	2,976,528	$	3,110,279	$	1,963,865

d.	Long-lived assets by geographic location:

	As of December 31,
	2023		2022
Israel	$	364,438	$	333,740
Korea		199,422		201,731
United States		47,083		12,030
China		38,037		34,230
Europe		23,478		21,282
Other		6,288		3,710
Total long-lived assets^(*)	$	678,746	$	606,723

(*) Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

LEASES (Schedule of Lease-Related Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Operating lease assets, net of lease incentive obligation	$ 64,167	$ 62,754
Finance lease assets	49,926	52,934
Total lease assets	$ 114,093	115,688
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAssets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherAssets
Liabilities:
Operating leases short term	$ 17,704	16,183
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating leases long term
Finance leases short term	$ 3,253	3,263
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Accrued Liabilities, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Finance leases long term
Operating leases long term	$ 45,070	46,256
Finance leases long term	41,892	45,385
Total lease liabilities	$ 107,919	$ 111,087

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Summary of Revenues by Product Family) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from External Customer [Line Items]
Total revenues	$ 2,976,528	$ 3,110,279	$ 1,963,865
Inverters [Member]
Revenue from External Customer [Line Items]
Total revenues	1,374,026	1,137,142	828,101
Optimizers [Member]
Revenue from External Customer [Line Items]
Total revenues	902,411	1,135,040	828,542
Batteries for PV applications [Member]
Revenue from External Customer [Line Items]
Total revenues	378,275	429,119	19,531
e-Mobility components and telematics [Member]
Revenue from External Customer [Line Items]
Total revenues	68,425	94,446	68,946
Communication [Member]
Revenue from External Customer [Line Items]
Total revenues	32,945	72,812	24,111
Other Products [Member]
Revenue from External Customer [Line Items]
Total revenues	$ 220,446	$ 241,720	$ 194,634

- Definition

+ References

+ Details

STOCK CAPITAL (Schedule of RSUs and PSUs Activity) (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period \| shares	1,488,515
Granted \| shares	1,138,764
Vested \| shares	(661,967)
Forfeited \| shares	(105,026)
Unvested at end of period \| shares	1,860,286
Weighted average grant date fair value, beginning of period \| $ / shares	$ 232.05
Weighted average grant date fair value, granted \| $ / shares	133.44
Weighted average grant date fair value, vested \| $ / shares	198.16
Weighted average grant date fair value, forfeited \| $ / shares	253.8
Weighted average grant date fair value, end of period \| $ / shares	$ 182.52
Phantom Share Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period \| shares	149,232
Granted \| shares	32,348
Vested \| shares	(107,165)
Unvested at end of period \| shares	74,415
Weighted average grant date fair value, beginning of period \| $ / shares	$ 295.88
Weighted average grant date fair value, granted \| $ / shares	314.22
Weighted average grant date fair value, vested \| $ / shares	296.76
Weighted average grant date fair value, end of period \| $ / shares	$ 302.58

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (schedule of changes in aoci) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (73,109)	$ (27,319)	$ 3,857
Revaluation	23,959	(59,249)	(29,649)
Tax on revaluation	(5,504)	6,508	900
Other comprehensive income (loss) before reclassifications	18,455	(52,741)	28,749
Reclassification	8,432	7,760	(2,758)
Tax on reclassification	(663)	(809)	331
Gains (Losses) reclassified from accumulated other comprehensive income	7,769	6,951	(2,427)
Net current period other comprehensive income (loss)	26,224	(45,790)	(31,176)
Ending balance	(46,885)	(73,109)	(27,319)
Unrealized gains (losses) on available-for-sale marketable securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(25,449)	(4,709)	240
Revaluation	25,898	(26,944)	(6,283)
Tax on revaluation	(5,487)	5,583	1,346
Other comprehensive income (loss) before reclassifications	20,411	(21,361)	(4,937)
Reclassification	107	736	(16)
Tax on reclassification	(29)	(115)	4
Gains (Losses) reclassified from accumulated other comprehensive income	78	621	(12)
Net current period other comprehensive income (loss)	20,489	(20,740)	(4,949)
Ending balance	(4,960)	(25,449)	(4,709)
Unrealized gains (losses) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,761)	874	0
Revaluation	(1,973)	(9,890)	3,735
Tax on revaluation	(17)	925	(446)
Other comprehensive income (loss) before reclassifications	(1,990)	(8,965)	3,289
Reclassification	8,325	7,024	(2,742)
Tax on reclassification	(634)	(694)	327
Gains (Losses) reclassified from accumulated other comprehensive income	7,691	6,330	(2,415)
Net current period other comprehensive income (loss)	5,701	(2,635)	874
Ending balance	3,940	(1,761)	874
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(37,960)	(17,420)	0
Revaluation	(5,375)	(20,540)	(17,420)
Tax on revaluation	0	0	0
Other comprehensive income (loss) before reclassifications	(5,375)	(20,540)	(17,420)
Reclassification	0	0	0
Tax on reclassification	0	0	0
Gains (Losses) reclassified from accumulated other comprehensive income	0	0	0
Net current period other comprehensive income (loss)	(5,375)	(20,540)	(17,420)
Ending balance	(43,335)	(37,960)	(17,420)
Unrealized gains (losses) on foreign currency translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(7,939)	(6,064)	3,617
Revaluation	5,409	(1,875)	(9,681)
Tax on revaluation	0	0	0
Other comprehensive income (loss) before reclassifications	5,409	(1,875)	(9,681)
Reclassification	0	0	0
Tax on reclassification	0	0	0
Gains (Losses) reclassified from accumulated other comprehensive income	0	0	0
Net current period other comprehensive income (loss)	5,409	(1,875)	(9,681)
Ending balance	$ (2,530)	$ (7,939)	$ (6,064)

GOODWILL

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL

NOTE 10: GOODWILL

Goodwill is tested for impairment annually in the fourth quarter of each year and is examined between annual tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired.

The Company completed its annual goodwill impairment test in the fourth quarter of 2023 for all reporting units and determined the following:

Due to impairment indicators of the solar reporting unit, which include, among other things, a deterioration in the environment in which the Company operates, a qualitative assessment of the Company’s solar reporting unit was performed in order to determine whether it is necessary to conduct the quantitative goodwill impairment test. Based on the results, the Company believes that it is more likely than not that the fair value of said reporting unit is greater than its carrying value and therefore a quantitative goodwill impairment test was not performed, and no goodwill impairment was recorded for the year ended December 31, 2023.

Due to impairment indicators of the Energy Storage reporting unit, which include, among other things, a decline in planned revenue and earnings compared with the projected results, the Company performed a quantitative goodwill impairment test and determined that the fair value of this reporting unit is greater than its carrying value and therefore no goodwill impairment was recorded for the year ended December 31, 2023.

The Company completed its annual goodwill impairment test in the fourth quarter of 2022 for all reporting units and determined the following:

In June 2022, the Company decided to discontinue its stand-alone Critical Power activities. The Company recorded an impairment in the amount of $2,782 pertaining to Critical Power's goodwill.

Due to impairment indicators of the e-Mobility reporting unit, which include, among other things, a shift in the Company's strategy that may result in a decline of the projected growth forecasted at the time of acquisition, the Company performed a quantitative goodwill impairment test. As a result, the Company recorded goodwill impairment in the amount of $80,534 for the year ended December 31, 2022, which is presented under Goodwill impairment in the consolidated statement of income.

In addition, a quantitative test has also been performed for the Automation Machines reporting unit due to indicators of impairment identified, which include, among other things, managerial changes and a decline in the overall financial performance compared with past projections. As a result, the Company recorded goodwill impairment in the amount of $6,788, for the year ended December 31, 2022, which was recorded under Goodwill impairment in the consolidated statement of income.

The fair value of the reporting units was estimated using a discounted cash flow analysis. When performing this analysis, the Company also considered multiples of earnings from comparable public companies. The decline in fair value of the e-Mobility and Automation Machines reporting units was primarily resulted from an increased discount rate and reduced estimated future cash flows.

The following summarizes the goodwill activity for the years ended December 31, 2023, and 2022:

	Solar			Energy Storage			All other			Total
Goodwill at December 31, 2021	$	30,505		$	2,568		$	96,556		$	129,629
Changes during the year:
Foreign currency adjustments		(1,737	)		(147	)		(6,452	)		(8,336	)
Impairment losses		-			-			(90,104	)		(90,104	)
Goodwill at December 31, 2022		28,768			2,421			-			31,189
Changes during the year:
Acquisitions		12,266			-			-			12,266
Foreign currency adjustments		(402	)		(57	)		-			(459	)
Goodwill at December 31, 2023	$	40,632		$	2,364		$	-		$	42,996

As of December 31, 2023 and December 31, 2022 there were $90,104 accumulated goodwill impairment losses.

STOCK CAPITAL

12 Months Ended

Dec. 31, 2023

Share-based Payment Arrangement [Abstract]

STOCK CAPITAL

NOTE 19: STOCK CAPITAL

a.	Common stock rights:

Common stock confers upon its holders the right to receive notice of, and to participate in, all general meetings of the Company, where each share of common stock shall have one vote for all purposes, to share equally, on a per share basis, in bonuses, profits, or distributions out of fund legally available therefor, and to participate in the distribution of the surplus assets of the Company in the event of liquidation of the Company.

b.	Secondary public offering:

On March 17, 2022, the Company offered and sold 2,300,000 shares of the Company’s common stock, at a public offering price of $295.00 per share. The shares of Common Stock were issued and sold in a registered offering pursuant to the underwriting agreement dated March 17, 2022, among the Company, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC (the “Underwriting Agreement”). All of the offered shares were issued at closing, including 300,000 shares of Common Stock that were issued and sold pursuant to the underwriters’ option to purchase additional shares under the Underwriting Agreement, which was exercised in full on March 18, 2022.

The net proceeds to the Company were $650,526 after deducting underwriters' discounts of $27,140 and commissions of $834.

c.	Equity Incentive Plans:

The Company’s 2007 Global Incentive Plan (the “2007 Plan”) was adopted by the board of directors on August 30, 2007. The 2007 Plan terminated upon the Company’s IPO on March 31, 2015 and no further awards may be granted thereunder. All outstanding awards will continue to be governed by their existing terms and 379,358 available options for future grants were transferred to the Company’s 2015 Global Incentive Plan (the “2015 Plan”) and are reserved for future issuances under the 2015 plan. The 2015 Plan became effective upon the consummation of the IPO. The 2015 Plan provides for the grant of options, restricted stock units ("RSU"), performance stock units ("PSU"), and other share-based awards to directors, employees, officers, and non-employees of the Company and its subsidiaries. As of December 31, 2023, a total of 20,853,755 shares of common stock were reserved for issuance pursuant to stock awards under the 2015 Plan (the “Share Reserve”), an aggregate of 11,042,805 shares are still available for future grants.

The Share Reserve will automatically increase on January 1^st of each year during the term of the 2015 Plan, commencing on January 1^st of the year following the year in which the 2015 Plan becomes effective, in an amount equal to 5% of the total number of shares of capital stock outstanding on December 31^st of the preceding calendar year; provided, however, that the Company’s board of directors may determine that there will not be a January 1^st increase in the Share Reserve in a given year or that the increase will be less than 5% of the shares of capital stock outstanding on the preceding December 31^st.

The Company granted under its 2015 Plan, PSU awards to certain employees and officers which vest upon the achievement of certain performance or market conditions subject to their continued employment with the Company.

In 2021, the Company has also committed to issuing additional shares, which are subject to resale registration rights and which carry certain performance conditions (including business performance targets and a continued service relationship with the Company) and are treated as PSUs for accounting purposes.

The market condition for the PSUs is based on the Company’s total shareholder return ("TSR") compared to the TSR of companies listed in the S&P 500 index over a one to three year performance period. The Company uses a Monte-Carlo simulation to determine the grant date fair value for these awards, which takes into consideration the market price of a share of the Company’s common stock on the date of grant less the present value of dividends expected during the requisite service period, as well as the possible outcomes pertaining to the TSR market condition. The Company recognizes such compensation expenses on an accelerated vesting method.

The aggregate maximum number of shares of common stock that may be issued on the exercise of incentive stock options is 10,000,000. As of December 31, 2023, an aggregate of 8,617,974 options are still available for future grants under the 2015 Plan.

A summary of the activity in stock options and related information is as follows:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term in years		Aggregate intrinsic Value
Outstanding as of December 31, 2022		339,029		$	50.64		4.86	$	79,414
Exercised		(21,613	)		10.48		-		3,572
Outstanding as of December 31, 2023		317,416		$	53.38		4.05	$	17,366
Vested and expected to vest as of December 31, 2023		317,166		$	53.24		4.05	$	17,366
Exercisable as of December 31, 2023		307,719		$	47.70		3.97	$	17,366

The intrinsic value is the amount by which the closing price of the Company’s common stock on December 31, 2023 of $93.60 or the price on the day of exercise exceeds the exercise price of the stock options multiplied by the number of in-the-money options.

The total intrinsic value of options exercised during the years ended December 31, 2023, 2022 and 2021 was $3,572, $37,948, and $65,668, respectively.

No options were granted in 2023.

A summary of the activity in the RSUs and related information is as follows:

	Number of RSUs			Weighted average grant date fair value
Unvested as of January 1, 2023		1,488,515		$	232.05
Granted		1,138,764			133.44
Vested		(661,967	)		198.16
Forfeited		(105,026	)		253.80
Unvested as of December 31, 2023		1,860,286		$	182.52

A summary of the activity in the PSUs and related information is as follows:

	Number of PSUs			Weighted average grant date fair value
Unvested as of January 1, 2023	$	149,232		$	295.88
Granted		32,348			314.22
Vested		(107,165	)		296.76
Unvested as of December 31, 2023	$	74,415		$	302.58

d.	Employee Stock Purchase Plan:

The Company adopted an ESPP effective upon the consummation of the IPO. As of December 31, 2023, total of 4,150,380 shares were reserved for issuance under this plan. The number of shares of common stock reserved for issuance under the ESPP will increase automatically on January 1st of each year, for ten years, by the lesser of 1% of the total number of shares of the Company’s common stock outstanding on December 31st of the preceding calendar year or 487,643 shares. However, the Company’s board of directors may reduce the amount of the increase in any particular year at their discretion, including a reduction to zero.

The ESPP is implemented through an offering every six months. According to the ESPP, eligible employees may use up to 15% of their salaries to purchase common stock up to an aggregate limit of $15 per participant for every six months plan. The price of an ordinary share purchased under the ESPP is equal to 85% of the lower of the fair market value of the ordinary share on the subscription date of each offering period or on the purchase date.

As of December 31, 2023, 938,164 shares of common stock had been purchased under the ESPP.

As of December 31, 2023, 3,212,216 shares of common stock were available for future issuance under the ESPP.

In accordance with ASC No. 718, the ESPP is compensatory and, as such, results in recognition of compensation cost.

e.	Stock-based compensation expenses:

The Company recognized stock-based compensation expenses related to all stock-based awards in the consolidated statement of income for the years ended December 31, 2023, 2022 and 2021, as follows:

	Year ended December 31,
	2023		2022		2021
Stock-based compensation expenses:
Cost of revenues	$	23,200	$	21,818	$	18,743
Research and development		66,944		63,211		45,424
Selling and marketing		30,987		31,017		22,834
General and administrative		28,814		29,493		15,592
Total stock-based compensation expenses	$	149,945	$	145,539	$	102,593

Stock-based compensation capitalized:
Inventories, net	$	2,460	$	-	$	-
Other long-term assets		1,666		380		-
Total stock-based compensation capitalized	$	4,126	$	380	$	-

The total tax benefit associated with share-based compensation for the year ended December 31, 2023, 2022 and 2021 was $27,551, $7,747 and $19,113, respectively. The tax benefit realized from share-based compensation for the year ended December 31, 2023, 2022 and 2021 was $8,866, $10,171 and $13,379, respectively.

As of December 31, 2023, there were total unrecognized compensation expenses in the amount of $332,367 related to non-vested equity-based compensation arrangements granted. These expenses are expected to be recognized during the period from January 1, 2024 through November 30, 2027.

EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 34,329	$ 93,779	$ 169,170
Denominator:
Shares used in computing net EPS of common stock, basic	56,557,106	55,087,770	52,202,182
Numerator:
Net income attributable to common stock, basic	$ 34,329	$ 93,779	$ 169,170
Notes due 2025	0	2,203	2,134
Net income attributable to common stock, diluted	$ 34,329	$ 95,982	$ 171,304
Denominator:
Shares used in computing net EPS of common stock, basic	56,557,106	55,087,770	52,202,182
Notes due 2025	0	2,276,818	2,276,818
Effect of stock-based awards	680,412	736,061	1,492,030
Shares used in computing net EPS of common stock, diluted	57,237,518	58,100,649	55,971,030
Earnings (loss) per share:
Basic	$ 0.61	$ 1.7	$ 3.24
Diluted	$ 0.6	$ 1.65	$ 3.06
Shares excluded from the calculation of net diluted due to their anti-dilutive effect	1,994,328	207,980	132,133

INTANGIBLE ASSETS, NET (schedule of future amortization expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 7,415
2025	6,518
2026	5,930
2027	3,762
2028	2,612
2029 and thereafter	9,108
Total intangible assets, net	$ 35,345	$ 19,929

INCOME TAXES (Schedule of Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Balance, at the beginning of the period	$ 2,756	$ 2,192	$ 10,564
Increases related to current year tax positions	1,502	564	635
Increase for tax positions related to prior years	11,778	0	0
Decreases related to prior year tax positions	(128)	0	(9,007)
Balance, at end of the period	$ 15,908	$ 2,756	$ 2,192

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Allowance for Credit Losses) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Balance, at beginning of period	$ 3,202
Increase in provision for expected credit losses	13,760
Recoveries collected	(134)
Amounts written off charged against the allowance	568
Foreign currency translation	140
Balance, at end of period	$ 16,400

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

DEFERRED REVENUES

12 Months Ended

Dec. 31, 2023

Revenue Recognition and Deferred Revenue [Abstract]

DEFERRED REVENUES

NOTE 15: DEFERRED REVENUES

Deferred revenues consist of deferred cloud-based monitoring services, communication services, warranty extension services and advance payments received from customers for the Company’s products. Deferred revenues are classified as short-term and long-term deferred revenues based on the period in which revenues are expected to be recognized.

Significant changes in the balances of deferred revenues during the period are as follows:

	December 31,
	2023			2022			2021
Balance, at the beginning of the period	$	213,577		$	169,345		$	140,020
Revenue recognized		(29,650	)		(23,017	)		(26,093	)
Increase in deferred revenues and customer advances		71,516			67,249			55,418
Balance, at the end of the period		255,443			213,577			169,345
Less current portion		(40,836	)		(26,641	)		(17,789	)
Long term portion	$	214,607		$	186,936		$	151,556

The following table includes estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of December 31, 2023:

2024	$	40,836
2025		13,786
2026		13,417
2027		11,314
2028		10,084
Thereafter		166,006
Total deferred revenues	$	255,443

INVENTORIES, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 340,604	$ 503,257
Work in process	20,885	23,407
Finished goods	1,081,960	202,537
Inventories	$ 1,443,449	$ 729,201

FINANCIAL INCOME (EXPENSE), NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonoperating Income (Expense) [Abstract]
Exchange rate (loss) gain, net	$ 24,181	$ 1,547	$ 22,493
Interest income on marketable securities	25,668	10,551	2,973
Convertible note	2,930	2,916	2,903
Hedging	2,337	4,716	9,417
Financing component expenses related to ASC 606	(9,773)	(7,038)	(5,771)
Bank charges	(1,418)	(1,584)	(1,991)
Interest income	7,494	2,932	788
Interest expense	(1,269)	(1,530)	(605)
Other	(3,078)	166	571
Total financial income (expenses), net	$ 41,212	$ 3,750	$ (20,014)

LEASES

12 Months Ended

Dec. 31, 2023

Lessee Disclosure [Abstract]

LEASES

NOTE 8: LEASES

The following table summarizes the Company’s lease-related assets and liabilities recorded in the consolidated balance sheets:

Description	Classification on the consolidated Balance Sheet	2023		2022
Assets:
Operating lease assets, net of lease incentive obligation	Operating lease right-of use assets, net	$	64,167	$	62,754
Finance lease assets	Property, plant and equipment, net		49,926		52,934
Total lease assets		$	114,093	$	115,688
Liabilities:
Operating leases short term	Accrued expenses and other current liabilities	$	17,704	$	16,183
Finance leases short term	Accrued expenses and other current liabilities		3,253		3,263
Operating leases long term	Operating lease liabilities		45,070		46,256
Finance leases long term	Finance lease liabilities		41,892		45,385
Total lease liabilities		$	107,919	$	111,087

The following table presents certain information related to the operating and finance leases:

	Year ended December 31,
	2023			2022
Finance leases:
Finance lease cost	$	4,154		$	4,196
Weighted average remaining lease term in years		14.99			16.28
Weighted average annual discount rate		2.30	%		2.30	%
Operating leases:
Operating lease cost	$	18,479		$	15,901
Weighted average remaining lease term in years		9.50			8.33
Weighted average annual discount rate		3.68	%		2.17	%

The following table presents supplemental cash flows information related to the lease costs for operating and finance leases:

	Year ended December 31,
	2023		2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows for operating leases	$	17,930	$	16,343
Operating cash flows for finance leases	$	373	$	420
Financing cash flows for finance leases	$	2,794	$	2,834

The following table reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years of the operating and finance lease liabilities recorded in the consolidated balance sheets:

	Operating Leases			Finance Leases
2024	$	17,933		$	3,288
2025		10,693			3,452
2026		6,585			3,452
2027		5,209			4,017
2028		4,479			3,155
Thereafter		30,169			36,087
Total lease payments	$	75,068		$	53,451
Less amount of lease payments representing interest		(12,294	)		(8,306	)
Present value of future lease payments	$	62,774		$	45,145
Less current lease liabilities		(17,704	)		(3,253	)
Long-term lease liabilities	$	45,070		$	41,892

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Narrative) (Details) - Dec. 31, 2023 - Foreign exchange forward contracts [Member] € in Millions, ₪ in Millions	EUR (€)	ILS (₪)
Put option [Member]
Derivative [Line Items]
Forward/option contracts \| ₪		₪ 541
Call option [Member]
Derivative [Line Items]
Forward/option contracts \| €	€ 60

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Schedule of fair value estimation of assets acquired and liabilities assumed [Table Text block]

	Amount			Weighted Average Useful Life (In years)
Cash	$	448
Net liabilities assumed		(1,837	)
Identified intangible assets:
Current technology		6,576			5
Customer relationships		283			1
Trade name		610			5
Goodwill		12,266
Total	$	18,346

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Common Stock [Member]

Additional paid in capital [Member]

Accumulated Other comprehensive income (loss) [Member]

Retained earnings [Member]

Total

Balance at Dec. 31, 2020

$ 5

$ 603,891

$ 3,857

$ 478,004

$ 1,085,757

Balance (in shares) at Dec. 31, 2020

51,560,936

Cumulative effect of adopting ASU 2020-06

$ 0

(36,336)

2,884

(33,452)

Issuance of Common Stock upon exercise of stock-based awards

$ 0

^[1]

6,486

Issuance of Common Stock upon exercise of stock-based awards (in shares)

1,204,861

Issuance of Common stock under employee stock purchase plan

$ 0

^[1]

10,661

Issuance of Common stock under employee stock purchase plan (in shares)

49,598

Stock based compensation

$ 0

102,593

Other comprehensive income adjustments, net

(31,176)

Net income

169,170

Balance at Dec. 31, 2021

$ 5

687,295

(27,319)

650,058

1,310,039

Balance (in shares) at Dec. 31, 2021

52,815,395

Issuance of Common Stock upon exercise of stock-based awards

$ 0

^[1]

4,030

Issuance of Common Stock upon exercise of stock-based awards (in shares)

940,880

Issuance of Common stock under employee stock purchase plan

$ 0

^[1]

17,863

Issuance of Common stock under employee stock purchase plan (in shares)

77,129

Stock based compensation

$ 0

145,919

Issuance of common stock in a secondary public offering, net of underwriters' discounts and commissions of $27,140 and $834 of offering costs

$ 1

650,525

650,526

Issuance of common stock in a secondary public offering, net of underwriters' discounts and commissions of $27,140 and $834 of offering costs (in shares)

2,300,000

Other comprehensive income adjustments, net

$ 0

(45,790)

Net income

93,779

Balance at Dec. 31, 2022

$ 6

1,505,632

(73,109)

743,837

2,176,366

Balance (in shares) at Dec. 31, 2022

56,133,404

Issuance of Common Stock upon exercise of stock-based awards

$ 0

^[1]

226

Issuance of Common Stock upon exercise of stock-based awards (in shares)

790,745

Issuance of Common stock under employee stock purchase plan

$ 0

^[1]

20,693

Issuance of Common stock under employee stock purchase plan (in shares)

199,288

Stock based compensation

$ 0

154,071

Other comprehensive income adjustments, net

26,224

Net income

34,329

Balance at Dec. 31, 2023

$ 6

$ 1,680,622

$ (46,885)

$ 778,166

$ 2,411,909

Balance (in shares) at Dec. 31, 2023

57,123,437

[1]	Represents an amount less than $1.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements Of Comprehensive Income Loss [Abstract]
Net income	$ 34,329	$ 93,779	$ 169,170
Other comprehensive income (loss), net of tax:
Available-for-sale marketable securities	20,489	(20,740)	(4,949)
Cash flow hedges	5,701	(2,635)	874
Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment nature	(5,375)	(20,540)	(17,420)
Foreign currency translation adjustments	5,409	(1,875)	(9,681)
Total other comprehensive income (loss)	26,224	(45,790)	(31,176)
Comprehensive income	$ 60,553	$ 47,989	$ 137,994

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEFERRED REVENUES (Tables)

12 Months Ended

Dec. 31, 2023

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of Balances of Deferred Revenues

	December 31,
	2023			2022			2021
Balance, at the beginning of the period	$	213,577		$	169,345		$	140,020
Revenue recognized		(29,650	)		(23,017	)		(26,093	)
Increase in deferred revenues and customer advances		71,516			67,249			55,418
Balance, at the end of the period		255,443			213,577			169,345
Less current portion		(40,836	)		(26,641	)		(17,789	)
Long term portion	$	214,607		$	186,936		$	151,556

Schedule Estimated Revenues Expected To Recognized In Future To Performance Obligations

2024	$	40,836
2025		13,786
2026		13,417
2027		11,314
2028		10,084
Thereafter		166,006
Total deferred revenues	$	255,443

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowances of trade receivable	$ 16,400	$ 3,202
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	125,000,000	125,000,000
Common stock, issued shares	57,123,437	56,133,404
Common stock, outstanding shares	57,123,437	56,133,404

INVENTORIES, NET

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

NOTE 5: INVENTORIES, NET

	As of December 31,
	2023		2022
Raw materials	$	340,604	$	503,257
Work in process		20,885		23,407
Finished goods		1,081,960		202,537
	$	1,443,449	$	729,201

The Company recorded inventory write-downs of $46,369, $10,170 and $7,142 for the years ended December 31, 2023, 2022 and 2021, respectively.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2023

Fair Value Measurements [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 13: FAIR VALUE MEASUREMENTS

In accordance with ASC 820, 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 December 31, 2023 and 2022 by level within the fair value hierarchy:

		Fair value measurements as of
Description	Fair Value Hierarchy	December 31, 2023		December 31, 2022
Assets:
Cash and cash equivalents:
Cash	Level 1	$	309,521	$	695,004
Money market mutual funds	Level 1	$	22,311	$	25,149
Deposits	Level 1	$	6,636	$	62,959
Derivative instruments	Level 2	$	4,887	$	-
Short-term marketable securities:
Corporate bonds	Level 2	$	481,820	$	217,825
U.S. Treasury securities	Level 2	$	15,261	$	15,679
U.S. Government agency securities	Level 2	$	8,795	$	-
Non-U.S. Government securities	Level 2	$	15,694	$	7,613
Long-term marketable securities:
Corporate bonds	Level 2	$	339,681	$	630,858
U.S. Treasury securities	Level 2	$	2,408	$	9,678
U.S. Government agency securities	Level 2	$	44,086	$	-
Non-U.S. Government securities	Level 2	$	21,650	$	4,955
Liabilities:
Derivative instruments	Level 2	$	-	$	(1,874	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Significant Accounting Policies [Line Items]
Reduction of fixed assets		$ 7,359
Prepaid expenses and other current assets	$ 2,018
Impairment of intangible assets	30,790	29,037	$ 2,209
Impairment of goodwill	90,104	90,104
Capitalized implementation costs related to ERP conversion	13,666	3,457
Severance pay
Severance expenses	23,643	17,202	14,231
Shipping and handling costs
Shipping and handling costs	$ 214,349	257,753	116,574
Warranty obligations
Minimum term of warranty obligation for StorEdge products.	10 years
Minimum term of warranty obligations for inverters	12 years
Minimum term of warranty obligations for power optimizers	25 years
Maximum extended product warranty period	25 years
Derivative financial instruments
Cumulative effect of adopting ASU 2020-06 on retained earnings	$ 2,884
Cumulative effect of adopting ASU 2020-06 on additional paid-in capital	36,336
Cumulative effect of adopting ASU 2020-06 on convertible senior notes	45,282
Cumulative effect of adopting ASU 2020-06 on deferred tax liabilities	11,830
Advertising expenses	13,476	11,090	$ 6,323
Accrued Exchange Fee Rebate	74,096	$ 176,706
Advanced manufacturing production tax credits (AMPTC)	$ 6,020
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Major Customer One [Member]
Derivative financial instruments
Concentration risk percentage		18.50%
Sales Revenue, Goods, Net [Member] \| Customer Concentration Risk [Member] \| Major Customer Two [Member]
Derivative financial instruments
Concentration risk percentage	24.00%		30.90%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Major Customer Three [Member]
Derivative financial instruments
Concentration risk percentage	47.10%	42.20%
Accounts Payable [Member] \| Supplier Concentration Risk [Member] \| Two Contract Manufacturers [Member]
Derivative financial instruments
Concentration risk percentage	58.50%	34.30%
Israeli Ministry Of Economy And Industry [Member] \| Sella One Factory [Member]
Significant Accounting Policies [Line Items]
Subsidy amount				$ 7,000
Chungcheongbuk-do Province Of South Korea [Member] \| Sella Two Factory [Member]
Significant Accounting Policies [Line Items]
Subsidy amount				$ 12,000

INCOME TAXES (Schedule of Deferred Tax Liabilities And Assets) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Deferred tax assets, net:

Research and Development carryforward expenses

$ 25,527

$ 9,335

Carryforward tax losses

^[1]

44,294

19,916

Stock based compensation expenses

28,715

9,863

Deferred revenue

13,244

8,954

Lease liabilities

12,872

6,520

Inventory Impairment

11,136

627

Foreign currency translation

4,985

6,987

Allowance and other reserves

17,367

23,255

Total Gross deferred tax assets, net

158,140

85,457

Less, Valuation Allowance

(51,245)

(23,777)

Total deferred tax assets, net

106,895

61,680

Deferred tax liabilities, net:

Intercompany transactions

(4,470)

(6,292)

Right-of-use assets

(13,353)

(6,618)

Purchase price allocation

(4,129)

(4,617)

Property, plant and equipment

(5,481)

Total deferred tax liabilities, net

(27,433)

(17,527)

Recorded as:

Deferred tax assets, net

80,912

44,153

Deferred tax liabilities, net

(1,450)

Net deferred tax assets

$ 79,462

$ 44,153

[1]	Related to deferred tax assets that would only be realizable upon the generation of net income in certain foreign jurisdictions.

COMMITMENTS AND CONTINGENT LIABILITIES (Narrative) (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2019 € / shares	Aug. 31, 2019 USD ($)	Dec. 31, 2023 USD ($) € / shares	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Non-cancelable purchase obligations			$ 1,041,253	$ 1,041,253
Provision for loss			24,963	24,963
Contractual obligations for capital expenditures			$ 95,499	95,499
Difference amount of tendered shares for shareholders of SMRE		$ 3,000
Difference amount per share of tendered shares for shareholders of SMRE \| € / shares	€ 6,000		$ 6,000
Legal claims				2,011
Euro [Member]
Loss Contingencies [Line Items]
Difference amount per share of tendered shares for shareholders of SMRE \| € / shares	€ 6,700		6,440
Difference amount paid per share of terndered shares for shareholders of SMRE \| € / shares			$ 440
Office Rent Lease Agreements [Member]
Loss Contingencies [Line Items]
Guarantees amount			$ 6,123	6,123
Other Transactions [Member]
Loss Contingencies [Line Items]
Guarantees amount			$ 1,946	$ 1,946

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2023	Feb. 01, 2024	Jun. 30, 2023
Cover [Abstract]
Entity Registrant Name	SOLAREDGE TECHNOLOGIES, INC.
Entity Central Index Key	0001419612
Document Type	10-K
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-36894
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5338862
Entity Address, Address Line One	1 HaMada Street
Entity Address, City or Town	Herziliya Pituach
Entity Address, Country	IL
Entity Address, Postal Zip Code	4673335
City Area Code	972
Local Phone Number	(9) 957-6620
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	SEDG
Name of Exchange on which Security is Registered	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Auditor Attestation Flag	true
Entity Public Float			$ 15.1
Entity Common Stock, Shares Outstanding		57,126,023
Auditor Name	Kost Forer Gabbay & Kasierer
Auditor Location	Tel-Aviv, Israel
Auditor Firm ID	1281
Document Financial Statement Error Correction [Flag]	false

CONVERTIBLE SENIOR NOTES (Schedule of Convertible Senior Notes) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Liability:
Principal	$ 632,500	$ 632,500
Unamortized issuance costs	(5,119)	(8,049)
Net carrying amount	$ 627,381	$ 624,451

RESTRUCTURING AND OTHER EXIT ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of restructuring and other exit charges by reportable segments and type of cost

	Solar				e-Mobility
	Employee termination costs		Contract termination and other		Employee termination costs		Inventory write-down		Contract termination and other		Total
Cost of revenues	$	2,561	$	20,593	$	-	$	27,158	$	9,489	$	59,801
Sales and marketing		-		-		4		-		-		4
General and administrative		-		-		297		-		87		384
Total	$	2,561	$	20,593	$	301	$	27,158	$	9,576	$	60,189

Schedule of liability balance for the restructuring and other exit charges

	Employee termination costs			Inventory write-down ¹		Contract termination and other
Balance as of January 1, 2023	$	-		$	-	$	-
Charges		2,862			27,158		30,169
Cash payments		(548	)		-		-
Foreign currency adjustments		59			616		224
Balance as of December 31, 2023	$	2,373		$	27,774	$	30,393

¹Inventory write-down is included under Inventories, net on the balance sheet.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Estimated Useful Lives of Property and Equipment) (Details)	12 Months Ended
	Dec. 31, 2023
Buildings and plants [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	2.50%
Buildings and plants [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	2.50%
Buildings and plants [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	5.70%
Computers and peripheral equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	33.30%
Computers and peripheral equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	14.30%
Computers and peripheral equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	33.30%
Office furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	7.00%
Office furniture and fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	7.00%
Office furniture and fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	25.00%
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	10.00%
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	10.00%
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	25.00%
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	10.00%
Laboratory Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	10.00%
Laboratory Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, depreciation rate	20.00%
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Useful Life, Term, Description	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember

INVENTORIES, NET (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

	As of December 31,
	2023		2022
Raw materials	$	340,604	$	503,257
Work in process		20,885		23,407
Finished goods		1,081,960		202,537
	$	1,443,449	$	729,201

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 849,573	$ 728,499
Less - accumulated depreciation	234,994	184,530
Total property, plant and equipment, net	614,579	543,969
Land [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	12,823	13,070
Buildings and plants [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	153,813	152,218
Computers and peripheral equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	57,527	46,376
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	10,992	10,911
Laboratory and testing equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	67,248	58,454
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	362,363	315,155
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	96,730	85,147
Assets under construction and payments on account [Member]
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment	$ 88,077	$ 47,168

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
GOODWILL (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill at January 1	$ 31,189	$ 129,629
Acquisitions	12,266
Foreign currency adjustments	(459)	(8,336)
Impairment losses	0	(90,104)	$ 0
Goodwill at December 31	42,996	31,189	129,629
Solar [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill at January 1	28,768	30,505
Acquisitions	12,266
Foreign currency adjustments	(402)	(1,737)
Impairment losses		0
Goodwill at December 31	40,632	28,768	30,505
Energy Storage [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill at January 1	2,421	2,568
Acquisitions	0
Foreign currency adjustments	(57)	(147)
Impairment losses		0
Goodwill at December 31	2,364	2,421	2,568
All other [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill at January 1	0	96,556
Acquisitions	0
Foreign currency adjustments	0	(6,452)
Impairment losses		(90,104)
Goodwill at December 31	$ 0	$ 0	$ 96,556

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 22: EARNINGS PER SHARE

The following table presents the computation of basic and diluted EPS attributable to SolarEdge Technologies Inc.:

	Year ended December 31,
	2023		2022		2021
Basic:
Numerator:
Net income	$	34,329	$	93,779	$	169,170
Denominator:
Shares used in computing net EPS of common stock, basic		56,557,106		55,087,770		52,202,182
Diluted:
Numerator:
Net income attributable to common stock, basic	$	34,329	$	93,779	$	169,170
Notes due 2025		-		2,203		2,134
Net income attributable to common stock, diluted	$	34,329	$	95,982	$	171,304
Denominator:
Shares used in computing net EPS of common stock, basic		56,557,106		55,087,770		52,202,182
Notes due 2025		-		2,276,818		2,276,818
Effect of stock-based awards		680,412		736,061		1,492,030
Shares used in computing net EPS of common stock, diluted		57,237,518		58,100,649		55,971,030
Earnings per share:
Basic	$	0.61	$	1.70	$	3.24
Diluted	$	0.60	$	1.65	$	3.06

Shares excluded from the calculation of net diluted due to their anti-dilutive effect		1,994,328		207,980		132,133

INCOME TAXES (Schedule of Income taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current taxes:
Domestic	$ 42,960	$ 56,958	$ (7,872)
Foreign	46,531	37,473	37,564
Total current taxes	89,491	94,431	29,692
Deferred taxes:
Domestic	(2,244)	(8,955)	(3,682)
Foreign	(40,827)	(2,100)	(7,956)
Total deferred taxes	(43,071)	(11,055)	(11,638)
Income taxes, net	$ 46,420	$ 83,376	$ 18,054

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

STOCK CAPITAL (Schedule of Stock-based Compensation Expense for Employees and Nonemployee) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	$ 149,945	$ 145,539	$ 102,593
Total stock-based compensation capitalized	4,126	380	0
Cost of revenues [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	23,200	21,818	18,743
Research and development [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	66,944	63,211	45,424
Sales and marketing [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	30,987	31,017	22,834
General and administrative [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based Payment Arrangement, Expense	28,814	29,493	15,592
Inventories [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation capitalized	2,460	0	0
Other long-term assets [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation capitalized	$ 1,666	$ 380	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principles of consolidation

a. Principles of consolidation:

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances including profit from intercompany sales not yet realized outside the Company have been eliminated upon consolidation.

Use of estimates

b. Use of estimates:

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses, government grants, income taxes and related disclosures in the accompanying notes. Actual results could differ from those estimates.

In preparing the Company’s consolidated financial statements, management also considered the economic implications of inflation expectations on its critical and significant accounting estimates. In addition, the duration, scope and effects of the war in Israel and the conflict in Ukraine, government and other third-party responses to it, and the related macroeconomic effects, including to the Company’s business and the business of the Company’s suppliers and customers are uncertain, rapidly changing and difficult to predict. As a result, the Company’s accounting estimates and assumptions may change over time in response to these evolving situations. Such changes could result in future impairments of goodwill and long-lived assets, inventories write-offs, incremental credit losses on receivables and available-for-sale marketable debt securities and changes in warranty obligations as of the time of a relevant measurement event.

Financial statements in U.S. dollars

c. Financial statements in U.S. dollars:

A major part of the Company’s operations is carried out in the United States, Israel and certain other countries. The functional currency of these entities is the U.S. dollar. Financing activities, including cash investments are primarily made in U.S. dollars.

Accordingly, monetary accounts maintained in currencies other than the U.S. dollar are translated into U.S. dollars in accordance with Financial Accounting Standards Board Accounting Standards Codification (“ASC”) No. 830 “Foreign Currency Matters”. All transaction gains and losses of the re-measurement of monetary balance sheet items are reflected in the statements of income as financial income or expenses, as appropriate.

The financial statements of other Company’s subsidiaries whose functional currency is other than the U.S. dollar have been translated into U.S dollars. Assets and liabilities have been translated using the exchange rates in effect as of the balance sheet date. Statements of income amounts have been translated using the date of the transaction or at the average exchange rate for the relevant period.

The resulting translation adjustments are reported as a component of stockholders’ equity in accumulated other comprehensive income (loss). Gains and losses arising from intercompany foreign currency transactions that are of a long-term investment in nature are reported in the same manner as translation adjustments.

Cash and cash equivalents

d. Cash and cash equivalents:

Cash equivalents are short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired.

Restricted bank deposits

e. Restricted bank deposits:

Short-term restricted bank deposits possess an original maturity of more than three months and less than a year from the date of investment. Long-term restricted bank deposits possess an original maturity of more than one year from the date of investment. Restricted bank deposits are primarily used as collateral for the Company's office leases and credit cards.

Marketable Securities

f. Marketable Securities:

Marketable securities consist of corporate and governmental bonds. The Company determines the appropriate classification of marketable securities at the time of purchase and re-evaluates such designation at each balance sheet date. In accordance with FASB ASC No. 320 “Investments - Debt and Equity Securities”, the Company classifies marketable securities as available-for-sale.

Available-for-sale ("AFS") securities are stated at fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss), a separate component of stockholders’ equity, net of taxes. Realized gains and losses on sales of marketable securities, as determined on a specific identification basis, are included in other income (loss), net on the consolidated statements of income. The amortized cost of marketable securities is adjusted for amortization of premium and accretion of discount to maturity, both of which, together with interest, are included in financial income (expenses), net.

The Company classifies its marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable securities with maturities of 12 months or less are classified as short-term and marketable securities with maturities greater than 12 months are classified as long-term.

On each reporting period, the Company evaluates whether declines in fair value below carrying value are due to expected credit losses, as well as the ability and intent to hold the investment until a forecasted recovery occurs, in accordance with ASC 326.

Allowance for credit losses on AFS debt securities are recognized as a charge in financial income (expenses), net, on the consolidated statements of income, and any remaining unrealized losses, net of taxes, are included in accumulated other comprehensive income (loss) in stockholders' equity.

The Company has not recorded credit losses on AFS debt securities for the years ended December 31, 2023, 2022 and 2021.

Investment in privately-held companies

g. Investment in privately-held companies:

The Company's equity investments are investments in equity securities of privately-held companies, that are not traded and therefore not supported with observable market prices. The Company elected to account for its equity investments without readily determinable market values that either (i) do not meet the definition of in-substance common stock or (ii) do not provide the Company with control or significant influence using Accounting Standards Update (“ASU”) 2016-01.

The Company adjusts the carrying value of its investments to fair value upon observable transactions for identical or similar investments of the same issuer.

The Company periodically evaluates the carrying value of the investments in privately-held companies when events and circumstances indicate that the carrying amount of the investment may not be recovered. The maximum loss the Company can incur for its investments is their carrying value.

The Company may determine the fair value by reviewing equity valuation reports, current financial results, long-term plans of the privately-held companies, the amount of cash that the privately-held companies have on-hand, the ability to obtain additional financing and overall market conditions in which the privately-held companies operate or based on the price observed from the most recent completed financing.

All gains and losses on investments in privately-held companies, realized and unrealized, are recognized in other income (loss).

Trade receivables

h. Trade receivables:

Trade receivables are stated net of credit losses allowance. The Company is exposed to credit losses primarily through sales of products. The allowance against gross trade receivables reflects the current expected credit loss inherent in the receivables portfolio determined based on the Company’s methodology. The Company’s methodology is based on historical collection experience, customer creditworthiness, current and future economic condition and market condition. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Trade receivables are written off after all reasonable means to collect the full amount have been exhausted.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of trade receivables to present the net amount expected to be collected:

	Year Ended December 31, 2023
Balance, at beginning of the period	$	3,202
Increase in provision for expected credit losses		13,760
Recoveries collected		(134	)
Amounts written off charged against the allowance		(568	)
Foreign currency translation		140
Balance, at end of the period	$	16,400

Loan receivables

i. Loan receivables:

Loan receivables are carried at the outstanding principal amount. An allowance for credit loss on loan receivables is established when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company determines this by considering several factors, including the credit risk and current financial condition of the borrower, the borrower’s ability to pay current obligations, historical trends, and economic and market conditions. The Company performs a credit quality assessment on the loan receivable on a quarterly basis and reviews the need for an allowance in accordance with ASC 326. The Company evaluates the extent and impact of any credit deterioration that could affect the performance and the value of the secured property, as well as the financial and operating capability of the borrower.

Interest income is recorded on an accrual basis at the stated interest rate and is recorded in financial income (expense) in the accompanying consolidated statements of income. Expected provision for credit loss regarding the Company's loans was immaterial. The amortized cost of the loan receivable approximates its fair value as of December 31, 2023.

Inventories

j. Inventories:

Inventories are stated at the lower of cost or net realizable value. Cost includes depreciation, labor, material, shipment and overhead costs. Inventory reserves are provided to cover risks arising from slow-moving, excess inventory items or technological obsolescence. The Company periodically evaluates the quantities on hand relative to historical, current and projected sales volume. Based on this evaluation, an impairment charge is recorded when required to write-down inventory to its net realizable value. Cost of finished goods and raw materials is determined using the moving average cost method.

Property, plant and equipment

k. Property, plant and equipment:

Property, plant and equipment are stated at cost, net of accumulated depreciation and government grants. Assets under construction represent the construction or development stage of property and equipment that have not yet been placed in service for the Company's intended use. Depreciation is calculated by the straight-line method over the estimated useful life of the assets, at the following rates:

		%
Buildings and plants		2.5-5.7 (mainly 2.5)
Computers and peripheral equipment		14.3-33.3 (mainly 33.3)
Office furniture and equipment		7-25 (mainly 7)
Machinery and equipment		10-25 (mainly 10)
Laboratory and testing equipment		10-20 (mainly 10)
Leasehold improvements		over the shorter of the lease term or useful economic life

Government assistance

l. Government assistance

Advanced manufacturing production tax credits

In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “IRA”), which contains several provisions intended to accelerate U.S. manufacturing and adoption of clean energy such as solar. Some of the applicable provisions in the IRA include the extension of the Production Tax Credit (“PTC") through 2034. These provisions of the law are new and regulations and guidance concerning their implementation are gradually being published by the U.S. Treasury Department. Section 45X of the IRA offers advanced manufacturing production tax credits ("AMPTC"), which incentivize the production of eligible components within the United States. To that end, the Company established manufacturing capabilities in the United States in 2023 and announced additional capacity expected in 2024. In addition to using the tax credits to offset tax due to the U.S. government, the IRA allows taxpayers to elect to have AMPTCs refunded in cash ("Direct Pay") or transfer these credits to a third party. The Direct Pay option is available as a one-time election, in any taxable year after December 31, 2022, for a facility in which eligible components are produced, and is applicable for five years.

Refundable and transferable tax credits are similar in essence to government grants. This is because the taxpayer can realize the benefit regardless of whether they owe income tax or not in the relevant years. Therefore, these amounts are not considered income taxes and fall outside the scope of Topic 740. Instead, they are treated as government grants.

Government grants are recognized when there is reasonable assurance that: (1) the Company will comply with the relevant conditions and (2) the grant disbursement will be received. The Company recognize's AMPTCs as a reduction in the cost of revenues in the statement of income. The Company does this systematically over time as it recognizes the related expenses. Alternatively, the Company recognizes the grant immediately if the grant compensates the Company for expenses that it has already incurred. The AMPTCs are also reflected in the consolidated balance sheet as a reduction of income tax payable within accrued expenses and other liabilities, as a tax prepayment, or as AMPTCs to be sold within prepayment and other assets. The way the Company expects to utilize the AMPTCs determines where they are recorded.

In the year that ended December 31, 2023, the Company recognized AMPTCs worth $6,020 as a reduction in the cost of revenues for the inverters produced in the United States and sold to customers. As of December 31, 2023, benefits recognized from AMPTCs of $6,020 were recorded as a tax prepayment within prepayment and other current assets.

Property, plant and equipment

In 2020, SolarEdge Ltd, a wholly owned subsidiary of the Company, entered into an agreement with the Israeli Ministry of Economy and Industry to partially subsidize the construction of Sella 1, a factory for production of inverters and optimizers, in the amount of approximately $7,000.

In 2020, SolarEdge Korea (formerly Kokam), a wholly owned subsidiary of the Company, entered into an agreement with Chungcheongbuk-do province of South Korea to partially subsidize the construction of Sella 2, a factory for production of lithium-ion cells and batteries, in the amount of approximately $12,000.

The assistance is in the form of a cash subsidy, which the government will pay as a grant upon the satisfaction of predetermined construction completion milestones. When the defined milestones are reached and the right to receive a subsidy amount becomes virtually certain, the amount of the grant is recorded as a reduction of the related asset's value under “Property, plant and equipment, net”.

The Company did not record reduction of property, plant and equipment for the year ended December 31, 2023.

The Company recorded reduction of property, plant and equipment in the amount of $7,359 for the year ended December 31, 2022.

As of December 31, 2023, the Company has a right to receive of $2,018 that has yet to be received which was recorded under “Prepaid expenses and other current assets”.

Leases

m. Leases:

The Company determines if an arrangement is a lease at inception. Contracts containing a lease are further evaluated for classification as an operating or finance lease. In determining the leases classification the Company assesses among other criteria: (i) The lease term is for a major part of the remaining economic life of the underlying asset (ii) The present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already included in the lease payments equals or exceeds substantially all of the fair value of the underlying asset. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and long-term operating lease liabilities in the Company’s consolidated balance sheets. Finance leases are included in property, plant and equipment, net, other current liabilities, and long-term finance lease liabilities in the Company’s consolidated balance sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. For leases with terms greater than 12 months, the Company records the ROU asset and liability at commencement date based on the present value of lease payments according to their term. Certain lease agreements include rental payments that are adjusted periodically for the consumer price index ("CPI"). The ROU and lease liability were calculated using the CPI as of the adoption date and will not be subsequently adjusted, unless the liability is reassessed for other reasons.

The Company uses incremental borrowing rates based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The ROU asset also includes any lease payments made and net of lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expenses are recognized on a straight-line basis over the lease term or the useful life of the leased asset.

In addition, the carrying amount of the ROU and lease liabilities are remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset.

Business Combination

n. Business Combination:

The Company allocates the fair value of the purchase price to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair value. The excess of the fair value of the purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets.

Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired technology and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which does not exceed one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the finalization of the measurement period, any subsequent adjustments are recorded to earnings.

Intangible Assets

o. Intangible Assets:

Acquired identifiable finite-lived intangible assets are amortized on a straight-line basis or accelerated method over the estimated useful lives of the assets. The basis of amortization approximates the pattern in which the assets are utilized, over their estimated useful lives. The Company routinely reviews the remaining estimated useful lives of finite-lived intangible assets. In case the Company reduces the estimated useful life for any asset, the remaining unamortized balance is amortized over the revised estimated useful life (see Note 9).

Impairment of long-lived assets

p. Impairment of long-lived assets:

The Company’s long-lived assets to be held and used, including property, plants and equipment, ROU assets and identifiable intangible assets that are subject to amortization, other than goodwill, are reviewed for impairment in accordance with ASC 360 “Property, Plants and Equipment”, whenever events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset (or asset group) to the future undiscounted cash flows expected to be generated by the assets (or asset group). If such evaluation indicates that the carrying amount of the asset (or asset group) is not recoverable, the assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds their fair value (see Note 9).

For the years ended December 31, 2023, 2022 and 2021, the Company recorded impairment charges of long-lived assets in the amount of $30,790, $29,037 and $2,209, respectively, presented under Other operating expenses, net.

Goodwill

q. Goodwill:

Goodwill reflects the excess of the consideration transferred, including the fair value of any contingent consideration and any non-controlling interest in the acquiree, over the assigned fair values of the identifiable net assets acquired. Goodwill is not amortized, and is assigned to reporting units and tested for impairment at least on an annual basis, in the fourth quarter of the fiscal year.

The goodwill impairment test is performed according to the following principles:

(1) An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.

(2) If the Company concludes it is more likely than not that the fair value of the reporting unit is less than its carrying amount, a quantitative impairment test is performed. An impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value is recognized (see Note 10).

For the year ended December 31, 2023, the Company did not record any impairment charges.

For the year ended December 31, 2022, the Company recorded impairment charges of goodwill in the amount of $90,104.

For the year ended December 31, 2021, the Company did not record any impairment charges.

Cloud computing arrangements

r. Cloud computing arrangements:

In 2021, due to the growing size and complexity of the Company, the Company decided to implement a new global enterprise resource planning ("ERP") system, which will replace the Company's existing operating and financial systems. During 2022, the Company began implementing a cloud-based ERP system. The implementation is expected to occur in phases over the next several years.

The Company incurs costs to implement cloud computing arrangements ("CCA") that are hosted by third party vendors. Implementation costs associated with CCA are capitalized when incurred during the application development phase until the software is ready for its intended use. The costs are then amortized on a straight-line basis over the contractual term of the cloud computing arrangement and are recognized as an operating expense within the consolidated statements of income. Capitalized amounts related to such arrangements are recorded within other long-term assets in the consolidated balance sheets. Cash payments for CCA implementation costs are classified as cash outflows from operating activities.

As of December 31, 2023, and 2022 the Company had capitalized implementation costs related to its upcoming ERP conversion in the amounts of $13,666 and $3,457, respectively presented under other long-term assets in the consolidated balance sheet.

Severance pay

s. Severance pay:

The employees of the Company’s Israeli subsidiary are included under Section 14 of the Severance Pay Law, 1963, under which these employees are entitled only to monthly deposits made in their name with insurance companies, at a rate of 8.33% of their monthly salary. These payments cause the Company to be released from any future obligation under the Israeli Severance Pay Law to make severance payments in respect of those employees; therefore, related assets and liabilities are not presented in the consolidated balance sheets.

If applicable, severance costs are recorded in each entity in accordance with local laws and regulations.

For the years ended December 31, 2023, 2022 and 2021, the Company recorded $23,643, $17,202 and $14,231 in severance expenses related to its employees, respectively.

Derivatives and Hedging

t. Derivatives and Hedging:

The Company accounts for derivatives and hedging based on ASC 815 (“Derivatives and Hedging”). ASC 815 requires the Company to recognize all derivatives on the balance sheet at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and further, on the type of hedging relationship.

To protect against the increase in value of forecasted foreign currency cash flows resulting from salary denominated in the Israeli currency, the New Israeli Shekels (“NIS”), during the year ended December 31, 2023, the Company instituted a foreign currency cash flow hedging program whereby portions of the anticipated payroll denominated in NIS for a period of one to nine months with hedging contracts.

Accordingly, when the dollar strengthens against the NIS, the decline in present value of future foreign currency expenses is offset by losses in the fair value of the hedging contracts. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is offset by gains in the fair value of the hedging contracts. These hedging contracts are designated as cash flow hedges, as defined by ASC 815 and are all effective hedges.

The Company also entered into derivative instrument arrangements to hedge the Company’s exposure to currencies other than the U.S. dollar. These derivative instruments are not designated as cash flow hedges, as defined by ASC 815, and therefore all gains and losses, resulting from fair value remeasurement, were recorded immediately in the statement of income, as a financial income (expense), net.

The Company classifies cash flows related to its hedging as operating activities in its consolidated statement of cash flows.

Revenue recognition

u. Revenue recognition:

Revenues are recognized in accordance with ASC 606; revenue from contracts with customers is recognized when control of the promised goods or services is transferred to the customers, in an amount that the Company expects in exchange for those goods or services.

The Company’s products and services consist mainly of (i) power optimizers, (ii) inverters, (iii) batteries for PV applications, (iv) a related cloud-based monitoring platform, (v) communication services, (vi) warranty extension services, (vii) Lithium-ion cells and other storage solutions (viii) EV components, and (ix) automated machinery for manufacturing lines.

The Company recognizes revenue under the core principle that transfer of control to the Company’s customers should be depicted in an amount reflecting the consideration the Company expects to receive in revenue.

In order to achieve that core principle, the Company applies the following five-step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when the performance obligation is satisfied.

(1) Identify the contract with a customer

A contract is an agreement or purchase order between two or more parties that creates enforceable rights and obligations. In evaluating the contract, the Company analyzes the customer’s intent and ability to pay the amount of promised consideration (credit risk) and considers the probability of collecting substantially all of the consideration.

The Company determines whether collectability is reasonably assured on a customer-by-customer basis pursuant to its credit review policy. The Company typically sells to customers with whom it has a long-term business relationship and a history of successful collection. For a new customer, or when an existing customer substantially expands its commitments, the Company evaluates the customer’s financial position, the number of years the customer has been in business, the history of collection with the customer, and the customer’s ability to pay, and typically assigns a credit limit based on that review.

(2) Identify the performance obligations in the contract

At a contract’s inception, the Company assesses the goods or services promised in a contract with a customer and identifies the performance obligations. The main performance obligations are the provisions of the following: providing of the Company’s products; cloud based monitoring services; extended warranty services and communication services. Depending on the shipping terms agreed with the customer, the Company may perform shipping and handling activities after the customer obtains control of the goods and revenue is recognized. The Company has elected to account for shipping and handling costs as activities to fulfill the promise to transfer the goods. As a result of this accounting policy election, the Company does not consider shipping and handling activities after the customer obtains control of the goods as promised services to its customers.

(3) Determine the transaction price

The transaction price is the amount of consideration to which the Company is entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. Generally, the Company does not provide price protection, stock rotation, and/or right of return. The Company determines the transaction price for all satisfied and unsatisfied performance obligations identified in the contract from contract inception to the beginning of the earliest period presented. Rebates or discounts on goods or services are accounted for as variable consideration. The rebate or discount program is applied retrospectively for future purchases. Provisions for rebates, sales incentives and discounts to customers are accounted for as reductions in revenue in the same period the related sales are recorded.

Accrual for rebates for direct customers is presented net of receivables. Accrual for sale incentives related to non-direct customers is presented under accrued expenses and other current liabilities. The Company accrued $74,096 and $176,706 for rebates and sales incentives as of December 31, 2023 and 2022, respectively.

When a contract provides a customer with payment terms of more than a year, the Company considers whether those terms create variability in the transaction price and whether a significant financing component exists.

As of December 31, 2023, the Company has not provided payment terms of more than a year.

The performance obligations that extend for a period greater than one year are those that include a financial component: (i) warranty extension services, (ii) cloud-based monitoring, and (iii) communication services. The Company recognizes financing component expenses in its consolidated statement of income in relation to advance payments for performance obligations that extend for a period greater than one year. These financing component expenses are reflected in the Company’s deferred revenues balance.

(4) Allocate the transaction price to the performance obligations in the contract

The Company performs an allocation of the transaction price to each separate performance obligation, in proportion to their relative standalone selling prices.

(5) Recognize revenue when a performance obligation is satisfied

Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. Control either transfers over time or at a point in time, which affects when revenue is recorded.

Revenues from sales of products are recognized based on the transfer of control, which includes but is not limited to, the agreed International Commercial terms, or “INCOTERMS”. Revenues related to warranty extension services, cloud-based monitoring, and communication services are recognized over time on a straight-line basis.

Cost of revenues

v. Cost of revenues:

Cost of revenues includes the following: product costs consisting of purchases from contract manufacturers and other suppliers, direct and indirect manufacturing costs, shipping and handling, support, warranty expenses, provision for losses related to slow moving and dead inventory, personnel and government grants related to the AMPTCs.

Shipping and handling costs, which amounted to $214,349, $257,753 and $116,574, for the years ended December 31, 2023, 2022 and 2021, respectively, are included in the cost of revenues in the consolidated statements of income. Shipping and handling costs include custom tariff charges and all other costs associated with the distribution of finished goods from the Company’s point of sale directly to its customers.

In the year ended December 31, 2023, the Company recognized AMPTCs worth approximately $6,020 as a reduction in the cost of revenues for the inverters produced in the United States and sold to customers.

Warranty obligations

w. Warranty obligations:

The Company provides a product warranty for its solar segment related products as follows: a standard 10-year limited warranty for its batteries for PV applications, a standard 12-year limited warranty for the majority of its inverters, that is extendable up to 25 years for an additional cost and a 25-year limited warranty for power optimizers.

The Company maintains reserves to cover the expected costs that could result from the standard warranty. The warranty liability is in the form of product replacement and associated costs. Warranty reserves are based on the Company’s best estimate of such costs and are included in cost of revenues. The reserve for the related warranty expenses is based on various factors including assumptions about the frequency of warranty claims on product failures, derived from results of accelerated lab testing, field monitoring, analysis of the history of product field failures, and the Company’s reliability estimates.

The Company has established a reliability measurement system based on the units’ estimated mean time between failure, or MTBF, a metric that equates to a steady-state failure rate per year for each product generation. The MTBF predicts the expected failure rate of each product within the Company's products installed base during the expected product warranted lifetime.

The Company performs accelerated life cycle testing, which simulates the service life of the product in a short period of time.

The accelerated life cycle tests incorporate test methodologies derived from standard tests used by solar module vendors to evaluate the period over which solar modules wear out. Corresponding replacement costs are updated periodically to reflect changes in the Company’s actual and estimated production costs for its products, rate of usage of refurbished units as a replacement of faulty units, and other costs related to logistic and subcontractors’ services associated with the replacement products.

In addition, through the collection of actual field failure statistics, the Company has identified several additional failure causes that are not included in the MTBF model. Such causes, which mostly consist of design errors, workmanship errors caused during the manufacturing process and, to a lesser extent, replacement of non-faulty units by installers, result in generating additional replacement costs to the replacement costs projected under the MTBF model.

For other products, the Company accrues for warranty costs based on the Company’s best estimate of product and associated costs. The Company’s other products are sold with a standard limited warranty that typically range in duration from one to ten years.

Warranty obligations are classified as short-term and long-term obligations based on the period in which the warranty is expected to be claimed.

Convertible senior notes

x. Convertible senior notes:

Effective January 1, 2021, the Company early adopted ASU 2020-06 using the modified retrospective approach. The Notes are accounted for as a single liability measured at its amortized cost, as no other embedded features require bifurcation and recognition as derivatives. Adoption of the new standard resulted in an increase of retained earnings in the amount of $2,884, a decrease of an additional paid-in capital in the amount of $36,336, an increase of convertible senior notes, net, in the amount of $45,282 and a decrease of deferred tax liabilities, net, in the amount of $11,830. The impact of adoption of this standard on the Company’s earnings per share was immaterial.

The Company’s Convertible Senior Notes are included in the calculation of diluted Earnings Per Share (“EPS”) if the assumed conversion into common shares is dilutive, using the “if-converted” method. This involves adding back the periodic non-cash interest expense net of tax associated with the Notes to the numerator and by adding the shares that would be issued in an assumed conversion (regardless of whether the conversion option is in or out of the money) to the denominator for the purposes of calculating diluted EPS, unless the Notes are antidilutive (see Note 22).

Advertising costs

y. Advertising costs

Advertising costs are expensed when incurred and are included in sales and marketing expenses in the consolidated statements of income. The Company incurred advertising expenses of $13,476, $11,090, and $6,323 for the years ended December 31, 2023, 2022, and 2021, respectively.

Research and development costs

z. Research and development costs:

Research and development costs, are charged to the consolidated statement of income as incurred.

Concentrations of credit risks

aa. Concentrations of credit risks:

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, restricted bank deposits, marketable securities, trade receivables, loan receivables, derivative instruments and other accounts receivable.

Cash and cash equivalents and restricted bank deposits are mainly invested in major banks in the U.S., Israel, Germany, Italy and Korea. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, minimal credit risk exists with respect to these investments.

The Company's debt marketable securities include investments in highly-rated corporate debentures (located mainly in U.S., Canada, France, UK, Australia, Cayman Islands and other countries) and governmental bonds. The financial institutions that hold the Company's debt marketable securities are major financial institutions located in the United States. The Company believes its debt marketable securities portfolio is a diverse portfolio of highly-rated securities and the Company's investment policy limits the amount the Company may invest in an issuer (see Note 2f.).

The trade receivables of the Company derive from sales to customers located primarily in the United States and Europe.

The Company performs ongoing credit evaluations of its customers for the purpose of determining the appropriate allowance for credit losses (see Note 2h.). The Company generally does not require collaterals, however, in certain circumstances, the Company may require letters of credit, other collateral, or additional guarantees. From time to time, the Company may purchase trade credit insurance.

The Company had two major customers (customers with attributable revenues that represents more than 10% of total revenues) for the year ended December 31, 2023, one major customer for the year ended December 31, 2022, and two major customers for the year ended December 31, 2021 that accounted for approximately 24.0%, 18.5% and 30.9% of the Company’s consolidated revenues, respectively. All of the revenues from these customers were generated in the solar segment.

The Company had three major customers (customer with a balance that represents more than 10% of total trade receivables, net) as of December 31, 2023 and as of December 31, 2022 that accounted in the aggregate for approximately 47.1% and 42.2%, of the Company’s consolidated trade receivables, net, respectively.

Concentrations of supply risks

ab. Concentrations of supply risks:

The Company depends on two contract manufacturers and several limited or single source component suppliers. Reliance on these vendors makes the Company vulnerable to possible capacity constraints and reduced control over component availability, delivery schedules, manufacturing yields, and costs.

As of December 31, 2023 and 2022, two contract manufacturers collectively accounted for 58.5% and 34.3% of the Company’s total trade payables, net, respectively.

In the second quarter of 2022, the Company announced the opening of “Sella 2”, a two gigawatt-hour (GWh) Li-Ion battery cell manufacturing facility located in South Korea. Sella 2 began producing and shipping cells at the end of 2022 and is expected to gradually increase manufacturing capacity throughout 2024. Sella 2 is the Company's second owned manufacturing facility following the establishment of Sella 1 in 2020. Sella 1 is the Company's manufacturing facility in the North of Israel that produces power optimizers and inverters.

Fair value of financial instruments

ac. Fair value of financial instruments:

The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments:

The carrying value of cash and cash equivalents, short-term bank deposits, restricted bank deposits, trade receivables, net, bank loans, prepaid expenses, loan receivables and other current assets, trade payables, net, employee and payroll accruals and accrued expenses and other current liabilities approximate their fair values due to the short-term maturities of such instruments.

Assets measured at fair value on a recurring basis as of December 31, 2023 and 2022 are comprised of money market funds, derivative instruments and marketable securities (see Note 13).

The Company applies ASC 820 “Fair Value Measurements and Disclosures”, with respect to fair value measurements of all financial assets and liabilities. Fair value is an exit price, representing the amount that would be received for the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability.

A three-tiered fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:

Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2- Include other inputs that are directly or indirectly observable in the marketplace.

Level 3- Unobservable inputs which are supported by little or no market activity.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Stock-based compensation

ad. Stock-based compensation:

The Company uses the closing trading price of its common stock on the day of the grant date as the fair value of awards of restricted stock units ("RSUs"), and performance stock units that are based on the Company's financial performance targets ("PSUs"). The compensation expense for RSUs is recognized using a straight-line attribution method over the requisite employee service period while compensation expense for PSUs is recognized using an accelerated amortization model. The Company estimates the forfeitures at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Estimated forfeitures are based on actual historical pre-vesting forfeitures.

The Company's PSUs is based on the Company’s total shareholder return ("TSR") compared to the TSR of companies listed in the S&P 500 index over a one to three year performance period. For market conditions awards, the Company uses a Monte-Carlo simulation to determine the grant date fair value for these awards, which takes into consideration the market price of a share of the Company’s common stock on the date of grant less the present value of dividends expected during the requisite service period, as well as the possible outcomes pertaining to the TSR market condition. The Company recognizes such compensation expenses on an accelerated vesting method.

The Company selected the Black-Scholes-Merton option-pricing model as the most appropriate fair value method for its stock-option awards and Employee Stock Purchase Plan (“ESPP”). The option-pricing model requires a number of assumptions, of which the most significant are the fair market value of the underlying common stock, expected stock price volatility, and the expected option term. Expected volatility for stock-option awards and ESPP was calculated based upon the Company’s stock prices. The expected term of options granted is based upon historical experience and represents the period between the options’ grant date and the expected exercise or expiration date. The risk-free interest rate is based on the yield from U.S. treasury bonds with an equivalent term. The Company does not use dividend yield rate since the Company has not declared or paid any dividends on its common stock and does not expect to pay any dividends in the foreseeable future.

A modification of the terms of a stock-based award is treated as an exchange of the original award for a new award with total compensation cost equal to the grant-date fair value of the original award plus the incremental value of the modification to the award.

The fair value for options, PSU and ESPP granted to employees is estimated at the date of grant using the following assumptions:

	Year ended December 31,
	2023	2022	2021
Employee Stock Options ⁽¹⁾
Risk-free interest	-	-	0.43%
Dividend yields	-	-	0%
Volatility	-	-	60.74%
Expected option term in years	-	-	5.48
Estimated forfeiture rate	-	-	0%
ESPP
Risk-free interest	5.38% - 5.46%	1.64% - 4.70%	0.03% - 0.10%
Dividend yields	0%	0%	0%
Volatility	56.44% - 66.78%	71.28% - 71.97%	48.39% - 76.05%
Expected term	6 months	6 months	6 months
PSU
Risk-free interest	4.09%	1.77%	-
Dividend yields	0%	0%	-
Volatility	71.60%	67.42%	-
Expected term	3 years	1 - 3 years	-

⁽¹⁾ No new options were granted in 2023 and 2022.

Earnings per share

ae. Earnings per share

Basic net EPS is computed by dividing the net earnings attributable to SolarEdge Technologies, Inc. by the weighted-average number of shares of common stock outstanding during the period.

Diluted net EPS is computed by giving effect to all potential shares of common stock, to the extent dilutive, including stock options, RSUs, PSUs, shares to be purchased under the Company’s ESPP, and the Notes due 2025, all in accordance with ASC No. 260, "Earnings Per Share."

Income taxes

af. Income taxes:

The Company and its subsidiaries account for income taxes in accordance with ASC 740, “Income Taxes”. ASC 740 prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates that will be in effect when the differences are expected to reverse.

Deferred income tax balances reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases and are stated at enacted tax rates expected to be in effect when taxes are actually paid or recovered. Deferred tax assets are evaluated for future realization and reduced by a valuation allowance to the extent the Company believes they will not be realized. The Company considers all available evidence, including historical information, long range forecast of future taxable income and evaluation of tax planning strategies. Amounts recorded for valuation allowance can result from a complex series of judgments about future events and can rely on estimates and assumptions.

Tax has not been recorded for (a) taxes that would apply in the event of disposal of investments in subsidiaries, as it is generally the Company’s intention to hold these investments, not to realize them; and (b) taxes that would apply on the distribution of unremitted earnings from foreign subsidiaries, as these are retained for reinvestment in the Group.

The Company accounts for uncertain tax positions in accordance with ASC 740-10 two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that, on an evaluation of the technical merits, the tax position will be sustained on audit, including resolution of any related appeals or litigation processes. The second step is to measure the tax benefit as the largest amount that is more than 50% (cumulative probability) likely to be realized upon ultimate settlement.

New accounting pronouncements not yet effective

ag. New accounting pronouncements not yet effective:

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). Additional segment reporting information required by ASU 2023-07 includes: disclosing the title and position of the individual or the name of the group or committee identified as the CODM, provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually, and additional disclosures regarding significant segment expenses. ASU 2023-07 is effective for fiscal periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of adopting ASU 2023-07.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires additional categories of information about federal, state and foreign income taxes to be included in effective tax rate reconciliation disclosure. Additionally, the newly added categories also apply to the income taxes paid disclosure. Implementation of said additions are subject to quantitative thresholds. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact of adopting ASU 2023-09.

Recently issued and adopted pronouncements

ah. Recently issued and adopted pronouncements:

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued or newly effective standards were not applicable to the Company, did not have a material impact on the condensed consolidated financial statements or are not expected to have a material impact on the condensed consolidated financial statements.

SUBSEQUENT EVENTS (Narrative) (Details)	1 Months Ended
SUBSEQUENT EVENTS (Narrative) (Details)	Jan. 21, 2024
Subsequent Event [Member] \| Workforce reduction plan [Member]
Subsequent Event [Line Items]
Percentage of reducing in headcount	16.00%

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

	As of December 31,
	2023		2022
Cost:
Land	$	12,823	$	13,070
Buildings and plants		153,813		152,218
Computers and peripheral equipment		57,527		46,376
Office furniture and equipment		10,992		10,911
Laboratory and testing equipment		67,248		58,454
Machinery and equipment		362,363		315,155
Leasehold improvements		96,730		85,147
Assets under construction and payments on account		88,077		47,168
Gross property, plant and equipment		849,573		728,499
Less - accumulated depreciation		234,994		184,530
Total property, plant and equipment, net	$	614,579	$	543,969

STOCK CAPITAL (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 17, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Underwriters discounts and commissions			$ 27,140
Offering costs			834
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		10,000,000
Total stock-based compensation capitalized		$ 4,126	380	$ 0
Equity based compensation expenses to employees and nonemployees		27,551	7,747	19,113
Tax benefit realized from share-based compensation		8,866	10,171	13,379
Unrecognized compensation expense		$ 332,367
IPO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares sold in public offerings	2,300,000
Per share price of common stock sold	$ 295
IPO [Member] \| Underwriting Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares sold in public offerings	300,000
Underwriters discounts and commissions	$ 27,140
Offering costs	834
Proceeds from secondary public offering, net of issuance costs	$ 650,526
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future grant under the plan		11,042,805
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price intrinsic value		$ 93.6
Employee Stock Option [Member] \| Employees and Members of Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised		$ 3,572	$ 37,948	$ 65,668
Employee Stock Option [Member] \| 2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		20,853,755
Number of shares available for future grant under the plan		8,617,974			379,358
Percentage of common shares increase automatically each year		5.00%
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock reserved for issuance pursuant to stock awards under the plan		4,150,380
Number of shares available for future grant under the plan		3,212,216
Number of common stock purchased under ESPP		938,164
Period of plan increase automatically number of shares		487,643
Percentage of common shares increase automatically each year		1.00%
Maximum percentage of salary		15.00%
Aggregate limit per participant		$ 15
Purchase price of common stock, percent		85.00%

FINANCIAL INCOME (EXPENSE), NET

12 Months Ended

Dec. 31, 2023

Nonoperating Income (Expense) [Abstract]

FINANCIAL INCOME (EXPENSE), NET

NOTE 26: FINANCIAL INCOME (EXPENSE), NET

	Year ended December 31,
	2023			2022			2021
Exchange rate (loss) gain, net	$	24,181		$	(1,547	)	$	(22,493	)
Interest income on marketable securities		25,668			10,551			2,973
Convertible note		(2,930	)		(2,916	)		(2,903	)
Hedging		2,337			4,716			9,417
Financing component expenses related to ASC 606		(9,773	)		(7,038	)		(5,771	)
Bank charges		(1,418	)		(1,584	)		(1,991	)
Interest income		7,494			2,932			788
Interest expense		(1,269	)		(1,530	)		(605	)
Other		(3,078	)		166			571
Total financial income (expenses), net	$	41,212		$	3,750		$	(20,014	)

INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Acquired Intangible Assets

	As of December 31,
	2023			2022
Intangible assets with finite lives:
Current Technology	$	26,990		$	29,196
Customer relationships		3,193			2,958
Trade names		624			3,287
Assembled workforce		3,575			3,575
Patents		22,000			1,400
Gross intangible assets		56,382			40,416
Less - accumulated amortization		(21,037	)		(20,487	)
Total intangible assets, net	$	35,345		$	19,929

Schedule of Future Amortization Expense

2024	$	7,415
2025		6,518
2026		5,930
2027		3,762
2028		2,612
2029 and thereafter		9,108
	$	35,345

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income Loss [Abstract]

Schedule of Changes in AOCI

	Unrealized gains (losses) on available-for-sale marketable securities			Unrealized gains (losses) on cash flow hedges			Foreign currency translation adjustments on intra-entity transactions that are of a long-term investment in nature			Unrealized gains (losses) on foreign currency translation			Total
Beginning balance as of January 1, 2021	$	240		$	-		$	-		$	3,617		$	3,857
Revaluation		(6,283	)		3,735			(17,420	)		(9,681	)		(29,649	)
Tax on revaluation		1,346			(446	)		-			-			900
Other comprehensive income (loss) before reclassifications		(4,937	)		3,289			(17,420	)		(9,681	)		28,749
Reclassification		(16	)		(2,742	)		-			-			(2,758	)
Tax on reclassification		4			327			-			-			331
Gains reclassified from accumulated other comprehensive income		(12	)		(2,415	)		-			-			(2,427	)
Net current period other comprehensive income (loss)		(4,949	)		874			(17,420	)		(9,681	)		(31,176	)
Ending balance as of December 31, 2021	$	(4,709	)	$	874		$	(17,420	)	$	(6,064	)	$	(27,319	)
Revaluation		(26,944	)		(9,890	)		(20,540	)		(1,875	)		(59,249	)
Tax on revaluation		5,583			925			-			-			6,508
Other comprehensive income (loss) before reclassifications		(21,361	)		(8,965	)		(20,540	)		(1,875	)		(52,741	)
Reclassification		736			7,024			-			-			7,760
Tax on reclassification		(115	)		(694	)		-			-			(809	)
Losses reclassified from accumulated other comprehensive income		621			6,330			-			-			6,951
Net current period other comprehensive loss		(20,740	)		(2,635	)		(20,540	)		(1,875	)		(45,790	)
Ending balance as of December 31, 2022	$	(25,449	)	$	(1,761	)	$	(37,960	)	$	(7,939	)	$	(73,109	)
Revaluation		25,898			(1,973	)		(5,375	)		5,409			23,959
Tax on revaluation		(5,487	)		(17	)		-			-			(5,504	)
Other comprehensive income (loss) before reclassifications		20,411			(1,990	)		(5,375	)		5,409			18,455
Reclassification		107			8,325			-			-			8,432
Tax on reclassification		(29	)		(634	)		-			-			(663	)
Losses reclassified from accumulated other comprehensive income		78			7,691			-			-			7,769
Net current period other comprehensive income (loss)		20,489			5,701			(5,375	)		5,409			26,224
Ending balance as of December 31, 2023	$	(4,960	)	$	3,940		$	(43,335	)	$	(2,530	)	$	(46,885	)

Schedule of Reclassifications out of AOCI

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)									Affected Line Item in the Statement of Income
	2023			2022			2021
Unrealized gains (losses) on available-for-sale marketable securities
	$	(107	)	$	(736	)	$	16		Financial income (expenses), net
		29			115			(4	)	Income taxes
	$	(78	)	$	(621	)	$	12		Total, net of income taxes
Unrealized gains (losses) on cash flow hedges
		(964	)		(801	)		333		Cost of revenues
		(4,981	)		(4,142	)		1,645		Research and development
		(1,057	)		(959	)		334		Sales and marketing
		(1,323	)		(1,122	)		430		General and administrative
	$	(8,325	)	$	(7,024	)	$	2,742		Total, before income taxes
		634			694			(327	)	Income taxes
		(7,691	)		(6,330	)		2,415		Total, net of income taxes
Total reclassifications for the period	$	(7,769	)	$	(6,951	)	$	2,427

INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9: INTANGIBLE ASSETS, NET

In October 2023, the Company has decided to cease the use of SolarEdge Korea's (formerly Kokam) trade name and solar technology, as such, the Company recognized an impairment charge of $4,798 and the assets were disposed.

In June 2022, the Company decided to discontinue its stand-alone uninterrupted power supply activities or UPS (“Critical Power”). The Company recorded a loss in the amount of $1,226 pertaining to Critical Power's current technology and customer relationships.

In October 2022, following the e-Mobility and Automation Machines reporting unit’s analysis, an impairment test for long-lived assets was performed. The test included comparing the sum of the estimated undiscounted future cash flow attributable to the identified assets group and its carrying amounts, and recognizing an impairment for the amount to which the carrying amount exceeds the fair value of the assets groups. As a result, the Company recorded a current technology impairment of $26,917 related to e-Mobility's asset group and a $245 trade name impairment related to Automation Machines' asset group.

The impairments are recorded under Other operating expenses, net in the consolidated statement of income (see Note 23) additional information.

Acquired intangible assets consisted of the following as of December 31, 2023, and 2022:

	As of December 31,
	2023			2022
Intangible assets with finite lives:
Current Technology	$	26,990		$	29,196
Customer relationships		3,193			2,958
Trade names		624			3,287
Assembled workforce		3,575			3,575
Patents		22,000			1,400
Gross intangible assets		56,382			40,416
Less - accumulated amortization		(21,037	)		(20,487	)
Total intangible assets, net	$	35,345		$	19,929

Amortization expenses for the years ended December 31, 2023, 2022 and 2021, were $7,652, $9,096 and $10,176, respectively.

Expected future amortization expenses of intangible assets as of December 31, 2023 are as follows:

2024	$	7,415
2025		6,518
2026		5,930
2027		3,762
2028		2,612
2029 and thereafter		9,108
	$	35,345

OTHER OPERATING EXPENSES, NET

12 Months Ended

Dec. 31, 2023

Other Operating Income Expenses [Abstract]

OTHER OPERATING EXPENSES, NET

NOTE 23: OTHER OPERATING EXPENSES, NET

	Year ended December 31,
	2023			2022			2021
Impairment of property, plant and equipment	$	25,168		$	649		$	2,209
Impairment of intangible assets¹		5,622			28,388			-
Gain on sale of assets		(1,262	)		(2,603	)		-
Legal settlements and contingencies²		1,786			-			-
SolarEdge Korea (formerly Kokam) purchase escrow³		-			-			(859	)
Total other operating expense, net	$	31,314		$	26,434		$	1,350

¹ See Note 9

²See Note 20c

³In the year ended December 31, 2021, the Company received a payment of $859 out of the SolarEdge Korea (formerly Kokam) acquisition escrow, with regards to a working capital adjustment.

CONVERTIBLE SENIOR NOTES (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Convertible Senior Notes

	As of December 31,
	2023			2022
Liability:
Principal	$	632,500		$	632,500
Unamortized issuance costs		(5,119	)		(8,049	)
Net carrying amount	$	627,381		$	624,451

LEASES (Schedule of Information Related to Operating and Finance Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finance leases:
Finance lease cost	$ 4,154	$ 4,196
Weighted average remaining lease term in years	14 years 11 months 26 days	16 years 3 months 10 days
Weighted average annual discount rate	2.30%	2.30%
Operating leases:
Operating lease cost	$ 18,479	$ 15,901
Weighted average remaining lease term in years	9 years 6 months	8 years 3 months 29 days
Weighted average annual discount rate	3.68%	2.17%

INCOME TAXES (Schedule of reconciliation between the theoretical tax expense and the actual tax expense (benefit)) (Details)	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory tax rate	35.00%	21.00%	21.00%	21.00%
Effect of: Income tax at rate other than the U.S. statutory tax rate		(37.30%)	(10.80%)	(7.40%)
Losses and timing differences for which valuation allowance was provided		27.70%	5.20%	2.70%
Prior year income taxes (benefit)		(1.00%)	2.90%	(4.40%)
R&D Capitalization and other effects of TCJA		42.50%	18.90%	0.10%
Non-deductible expenses		4.50%	13.20%	2.00%
Other individually immaterial income tax items, net		(0.20%)	(3.30%)	(4.40%)
Effective tax rate		57.20%	47.10%	9.60%

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Schedule of Reportable Segments Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 2,976,528	$ 3,110,279	$ 1,963,865
Solar Segment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	2,815,539	2,921,175	1,787,280
Energy Storage Segment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	83,717	76,325	83,430
All Other Segment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	76,438	112,165	92,737
Revenues From Financing Componen [Member]
Segment Reporting Information [Line Items]
Revenues	$ 834	$ 614	$ 418

- Definition

+ References

+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

NOTE 6: PREPAID EXPENSES AND OTHER CURRENT ASSETS

	As of December 31,
	2023		2022
Vendor non-trade receivables¹	$	102,991	$	147,597
Government authorities		167,221		55,670
Loan receivables²		55,418		-
Interest from marketable securities		7,515		6,235
Prepaid expenses and other		45,249		31,580
Total prepaid expenses and other current assets	$	378,394	$	241,082

¹ Vendor non-trade receivables derived from the sale of components to manufacturing vendors who manufacture products, components and other testing equipment for the Company. The Company purchases these components directly from other suppliers. The Company does not reflect the sale of these components to the contract manufacturers in its revenues.

² Loan receivables are loans to third parties. The loan repayments are expected on a monthly or annual basis as per the contractual terms of each loan agreement. The loans bear interest that represent market interest rate. The amortized cost of the loan receivable approximates its fair value as of December 31, 2023.

MARKETABLE SECURITIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Marketable Securities Schedule Of Contractual Maturities Details [Abstract]
Proceeds from maturity of available-for-sale	$ 277,382	$ 201,974	$ 187,375
Proceeds from sale of available-for-sale securities	2,807	29,236	14,813
Realized loss	$ 125	$ 434	$ 16

CONVERTIBLE SENIOR NOTES

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

CONVERTIBLE SENIOR NOTES

NOTE 17: CONVERTIBLE SENIOR NOTES

On September 25, 2020, the Company sold $632,500 aggregate principal amount of its 0.00% convertible senior notes due 2025 (the “Notes”). The Notes were sold pursuant to an indenture, dated September 25, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). The Notes do not bear regular interest and mature on September 15, 2025, unless earlier repurchased or converted in accordance with their terms. The Notes are general senior unsecured obligations of the Company.

Holders may convert their Notes prior to the close of business on the business day immediately preceding June 15, 2025 in multiples of $1,000 principal amount, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business-day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the Notes for each trading day of that five consecutive trading day period was less than 98% of the product of the last reported sale price of the common stock and the conversion rate on each such trading day; or (3) upon the occurrence of specified corporate events as described in the Indenture. In addition, holders may convert their Notes, in multiples of $1,000 principal amount, at their option at any time beginning on or after June 15, 2025, and prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Notes, without regard to the foregoing circumstances. The initial conversion rate for the Notes was 3.5997 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $277.80 per share of common stock, subject to adjustment upon the occurrence of certain specified events as set forth in the Indenture.

Upon conversion, the Company may choose to pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock.

In addition, upon the occurrence of a fundamental change (as defined in the Indenture), holders of the Notes may require the Company to repurchase all or a portion of their Notes, in multiples of $1,000 principal amount, at a repurchase price of 100% of the principal amount of the Notes, plus any accrued and unpaid special interest, if any, to, but excluding, the repurchase date. If certain fundamental changes referred to as make-whole fundamental changes occur, the conversion rate for the Notes may be increased.

The Convertible Senior Notes consisted of the following as of December 31, 2023 and 2022:

	As of December 31,
	2023			2022
Liability:
Principal	$	632,500		$	632,500
Unamortized issuance costs		(5,119	)		(8,049	)
Net carrying amount	$	627,381		$	624,451

For the years ended December 31, 2023, 2022 and 2021 the Company recorded amortized debt issuance costs related to the Notes in the amount of $2,930, $2,916 and $2,903, respectively.

As of December 31, 2023, the issuance costs of the Notes will be amortized over the remaining term of approximately 1.70 years.

The annual effective interest rate of the Notes is 0.47%.

As of December 31, 2023, the estimated fair value of the Notes, which the Company has classified as Level 2 financial instruments, is $577,156. The estimated fair value was determined based on the quoted bid price of the Notes in an over-the-counter market on the last trading day of the reporting period.

As of December 31, 2023, the if-converted value of the Notes did not exceed the principal amount.

STOCK CAPITAL (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of activity in the share options granted to employees and members of board of directors

	Number of options			Weighted average exercise price		Weighted average remaining contractual term in years		Aggregate intrinsic Value
Outstanding as of December 31, 2022		339,029		$	50.64		4.86	$	79,414
Exercised		(21,613	)		10.48		-		3,572
Outstanding as of December 31, 2023		317,416		$	53.38		4.05	$	17,366
Vested and expected to vest as of December 31, 2023		317,166		$	53.24		4.05	$	17,366
Exercisable as of December 31, 2023		307,719		$	47.70		3.97	$	17,366

Schedule of RSU activity

	Number of RSUs			Weighted average grant date fair value
Unvested as of January 1, 2023		1,488,515		$	232.05
Granted		1,138,764			133.44
Vested		(661,967	)		198.16
Forfeited		(105,026	)		253.80
Unvested as of December 31, 2023		1,860,286		$	182.52

Schedule of performance stock units

	Number of PSUs			Weighted average grant date fair value
Unvested as of January 1, 2023	$	149,232		$	295.88
Granted		32,348			314.22
Vested		(107,165	)		296.76
Unvested as of December 31, 2023	$	74,415		$	302.58

Schedule of recognized stock-based compensation expenses

	Year ended December 31,
	2023		2022		2021
Stock-based compensation expenses:
Cost of revenues	$	23,200	$	21,818	$	18,743
Research and development		66,944		63,211		45,424
Selling and marketing		30,987		31,017		22,834
General and administrative		28,814		29,493		15,592
Total stock-based compensation expenses	$	149,945	$	145,539	$	102,593

Stock-based compensation capitalized:
Inventories, net	$	2,460	$	-	$	-
Other long-term assets		1,666		380		-
Total stock-based compensation capitalized	$	4,126	$	380	$	-

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCK CAPITAL (Summary of the Activity in the Share Options) (Details) - Employee Stock Option [Member] - Employees and Members of Board of Directors [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of options
Outstanding at the beginning of the period	339,029
Exercised	(21,613)
Outstanding at the end of the period	317,416	339,029
Weighted average exercise price
Outstanding at the beginning of the period	$ 50.64
Exercised	10.48
Outstanding at the end of the period	$ 53.38	$ 50.64
Weighted average remaining contractual term in years
Outstanding	4 years 18 days	4 years 10 months 9 days
Aggregate intrinsic Value
Outstanding	$ 17,366	$ 79,414
Exercised	$ 3,572
Vested and expected to vest at the end of the period
Number of options	317,166
Weighted average exercise price	$ 53.24
Weighted average remaining contractual term in years	4 years 18 days
Aggregate intrinsic Value	$ 17,366
Exercisable at the end of the period
Number of options	307,719
Weighted average exercise price	$ 47.7
Weighted average remaining contractual term in years	3 years 11 months 19 days
Aggregate intrinsic Value	$ 17,366

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 34,329	$ 93,779	$ 169,170

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	12 Months Ended
WARRANTY OBLIGATIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in the Company's product warranty liability
Balance, at the beginning of the period	$ 385,057	$ 265,160	$ 204,994
Accruals for warranty during the period	250,266	211,202	127,057
Changes in estimates	20,017	1,914	7,685
Settlements	(137,096)	(93,219)	(74,576)
Balance, at end of the period	518,244	385,057	265,160
Less current portion	(183,047)	(103,975)	(71,480)
Product Warranty Accrual, Noncurrent	$ 335,197	$ 281,082	$ 193,680

RESTRUCTURING AND OTHER EXIT ACTIVITIES (Narrative) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Inventory write-off [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring Charges

^[1]

$ 27,158

Contract termination and other [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring Charges

30,169

Critical Power's discontinuation [Member] | Inventory write-off [Member] | Cost of revenues [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring Charges

$ 4,314

Solar [Member] | Contract termination and other [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring Charges

$ 10,558

[1]	Inventory write-down is included under Inventories, net on the balance sheet.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

	As of December 31,
	2023		2022
Vendor non-trade receivables¹	$	102,991	$	147,597
Government authorities		167,221		55,670
Loan receivables²		55,418		-
Interest from marketable securities		7,515		6,235
Prepaid expenses and other		45,249		31,580
Total prepaid expenses and other current assets	$	378,394	$	241,082

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 1, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (schedule of reclassifications of other comprehensive income loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of revenues	$ 2,272,705	$ 2,265,631	$ 1,334,547
Research and development	321,482	289,814	219,633
Sales and marketing	164,318	159,680	119,000
General and administrative	146,504	112,496	82,196
Total, before income taxes	663,618	678,528	422,179
Income taxes	(46,420)	(83,376)	(18,054)
Total, net of income taxes	34,329	93,779	169,170
Unrealized gains (losses) on available-for-sale marketable securities [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Financial income (expenses), net	(107)	(736)	16
Income taxes	29	115	(4)
Total, net of income taxes	(78)	(621)	(12)
Unrealized gains (losses) on cash flow hedges [Member] \| Amount Reclassified from Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of revenues	(964)	(801)	333
Research and development	(4,981)	(4,142)	1,645
Sales and marketing	(1,057)	(959)	334
General and administrative	(1,323)	(1,122)	430
Total, before income taxes	(8,325)	(7,024)	2,742
Income taxes	634	694	(327)
Total, net of income taxes	(7,691)	(6,330)	2,415
Total reclassifications for the period	$ (7,769)	$ (6,951)	$ 2,427

INVENTORIES, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory Write-down	$ 46,369	$ 10,170	$ 7,142

INTANGIBLE ASSETS, NET (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Indefinite-Lived Intangible Assets [Line Items]
Amortization expenses				$ 7,652	$ 9,096	$ 10,176
Automation Machines [Member]
Indefinite-Lived Intangible Assets [Line Items]
Amount of impairment loss		$ 245
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]				us-gaap:OtherOperatingIncome
Critical Power [Member]
Indefinite-Lived Intangible Assets [Line Items]
Gain (loss) on intangible assets			$ 1,226
Technology [Member]
Indefinite-Lived Intangible Assets [Line Items]
Gain (loss) on intangible assets	$ 4,798
Amount of impairment loss		$ 26,917
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]				us-gaap:OtherOperatingIncome

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Schedule of Long-Lived Assets) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

^[1]

$ 678,746

$ 606,723

Israel [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

364,438

333,740

korea [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

199,422

201,731

United States [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

47,083

12,030

China [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

38,037

34,230

Europe [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

23,478

21,282

Others [Member]

Revenues from External Customers and Long-Lived Assets [Line Items]

Total long-lived assets

$ 6,288

$ 3,710

[1]	Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.

OTHER OPERATING EXPENSES, NET (Schedule of Other Opearting Expenses) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Other Operating Income Expenses [Abstract]

Impairment of property, plant and equipment

$ 25,168

$ 649

$ 2,209

Impairment of long-lived assets

^[1]

5,622

28,388

Gain on sale of assets

(1,262)

(2,603)

Legal settlements and contingencies

^[2]

1,786

SolarEdge Korea (formerly Kokam) purchase escrow

^[3]

(859)

Total other operating expense, net

$ 31,314

$ 26,434

$ 1,350

[1]	See Note 9
[2]	See Note 20c
[3]	In the year ended December 31, 2021, the Company received a payment of $859 out of the SolarEdge Korea (formerly Kokam) acquisition escrow, with regards to a working capital adjustment.

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Reportable Segments and Operating Income

The following tables presents information on reportable segments profit (loss) for the period presented:

	Year ended December 31, 2023
	Solar		Energy Storage			All other
Revenues	$	2,815,539	$	83,717		$	76,438
Cost of revenues		1,994,578		112,518			75,469
Gross profit (loss)		820,961		(28,801	)		969
Research and development		226,776		17,370			9,403
Sales and marketing		126,207		3,539			2,654
General and administrative		103,461		10,409			3,286
Segments profit (loss)	$	364,517	$	(60,119	)	$	(14,374	)

	Year ended December 31, 2022
	Solar		Energy Storage			All other
Revenues	$	2,921,175	$	76,325		$	112,165
Cost of revenues		2,050,147		63,752			118,171
Gross profit (loss)		871,028		12,573			(6,006	)
Research and development		196,381		15,108			13,908
Sales and marketing		118,154		4,095			5,592
General and administrative		69,631		7,233			5,768
Segments profit (loss)	$	486,862	$	(13,863	)	$	(31,274	)

	Year ended December 31, 2021
	Solar		Energy Storage		All other
Revenues	$	1,787,280	$	83,430	$	92,737
Cost of revenues		1,136,896		61,099		108,483
Gross profit (loss)		650,384		22,331		(15,746	)
Research and development		143,173		10,289		20,217
Sales and marketing		85,309		3,698		6,232
General and administrative		53,156		5,841		7,695
Segments profit (loss)	$	368,746	$	2,503	$	(49,890	)

Schedule of Reportable Segments Reconciliation to Consolidated Revenues

The following table presents information on reportable segments reconciliation to consolidated revenues for the periods presented:

	Year ended December 31,
	2023		2022		2021
Solar segment revenues	$	2,815,539	$	2,921,175	$	1,787,280
Energy Storage segment revenues		83,717		76,325		83,430
All other segment revenues		76,438		112,165		92,737
Revenues from financing component		834		614		418
Consolidated revenues	$	2,976,528	$	3,110,279	$	1,963,865

The following table presents information on reportable segments reconciliation to consolidated operating income for the periods presented:

	Year ended December 31,
	2023			2022			2021
Solar segment profit	$	364,517		$	486,862		$	368,746
Energy Storage segment profit (loss)		(60,119	)		(13,863	)		2,503
All other segment loss		(14,374	)		(31,274	)		(49,890	)
Segments operating profit		290,024			441,725			321,359
Amounts not allocated to segments:
Stock based compensation expenses		(149,945	)		(145,539	)		(102,593	)
Amortization and depreciation of acquired assets		(7,969	)		(9,478	)		(10,812	)
Impairment of goodwill and long-lived assets		(30,790	)		(119,141	)		-
Restructuring and other exit activities		(60,189	)		(4,314	)		-
Other unallocated income (expenses), net		(926	)		2,867			(815	)
Consolidated operating income	$	40,205		$	166,120		$	207,139

Summary of Revenues Within Geographic Areas

b.	Revenues by geographic, based on customers’ location:

	Year ended December 31,
	2023		2022		2021
United States	$	759,611	$	1,133,798	$	786,019
Europe^(*)		661,542		528,197		297,684
Germany		692,047		449,160		191,066
Netherlands		326,314		382,226		222,103
Italy		223,943		330,565		181,644
Rest of the world		313,071		286,333		285,349
Total revenues	$	2,976,528	$	3,110,279	$	1,963,865

(*) Except for Germany, Netherlands and Italy

Summary of Revenues By Product Family

c.	Revenues by type:

	Year ended December 31,
	2023		2022		2021
Inverters	$	1,374,026	$	1,137,142	$	828,101
Optimizers		902,411		1,135,040		828,542
Batteries for PV applications		378,275		429,119		19,531
e-Mobility components and telematics		68,425		94,446		68,946
Communication		32,945		72,812		24,111
Others		220,446		241,720		194,634
Total revenues	$	2,976,528	$	3,110,279	$	1,963,865

Schedule of Long-lived Assets By Geographic Region

d.	Long-lived assets by geographic location:

	As of December 31,
	2023		2022
Israel	$	364,438	$	333,740
Korea		199,422		201,731
United States		47,083		12,030
China		38,037		34,230
Europe		23,478		21,282
Other		6,288		3,710
Total long-lived assets^(*)	$	678,746	$	606,723

(*) Long-lived assets are comprised of property and equipment, net and Operating lease right-of-use assets, net.

MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2023

Marketable Securities [Abstract]

MARKETABLE SECURITIES

NOTE 4: MARKETABLE SECURITIES

The following is a summary of available-for-sale marketable securities at December 31, 2023:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	487,083	$	679	$	(5,942	)	$	481,820
U.S. Treasury securities		15,324		-		(63	)		15,261
U.S. Government agency securities		8,787		11		(3	)		8,795
Non-U.S. Government securities		15,161		673		(140	)		15,694
		526,355		1,363		(6,148	)		521,570
Matures after one year:
Corporate bonds		342,223		1,902		(4,444	)		339,681
U.S. Treasury securities		2,430		-		(22	)		2,408
U.S. Government agency securities		44,100		107		(121	)		44,086
Non-U.S. Government securities		20,488		1,162		-			21,650
		409,241		3,171		(4,587	)		407,825
Total	$	935,596	$	4,534	$	(10,735	)	$	929,395

The following is a summary of available-for-sale marketable securities at December 31, 2022:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	222,482	$	-	$	(4,657	)	$	217,825
U.S. Treasury securities		15,963		-		(284	)		15,679
Non-U.S. Government securities		7,882		-		(269	)		7,613
		246,327		-		(5,210	)		241,117
Matures after one year:
Corporate bonds		657,238		80		(26,460	)		630,858
U.S. Treasury securities		9,939		-		(261	)		9,678
Non-U.S. Government securities		5,311		-		(356	)		4,955
		672,488		80		(27,077	)		645,491
Total	$	918,815	$	80	$	(32,287	)	$	886,608

Proceeds from maturity of available-for-sale marketable securities during the years ended December 31, 2023, 2022 and 2021, were $277,382, $201,974 and $187,375, respectively.

Proceeds from sales of available-for-sale marketable securities during the year ended December 31, 2023 were $2,807, which led to realized losses of $125.

Proceeds from sales of available-for-sale marketable securities during the year ended December 31, 2022 were $29,236, which led to realized losses of $434.

Proceeds from sales of available-for-sale marketable securities during the year ended December 31, 2021 were $14,813, which led to realized losses of $16.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued expenses	$ 142,130	$ 117,638
Government authorities	34,309	67,514
Operating lease liabilities	17,704	16,183
Accrual for sales incentives	5,862	6,790
Finance lease	3,253	3,263
Other	2,653	2,724
Total accrued expenses and other current liabilities	$ 205,911	$ 214,112

OTHER LONG TERM ASSETS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Assets, Noncurrent [Abstract]
Investments	$ 2,500	$ 2,500	$ 5,500
Percentage of outstanding common shares	4.50%	4.50%	34.80%
Net loss from equity method investments				$ 350	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

NOTE 12: DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

As of December 31, 2023, the Company entered into contracts of put and call options to sell U.S. dollars (“USD”) for NIS and Euro ("EUR") for USD in the amounts of approximately NIS 541 million and EUR 60 million, respectively.

The fair values of outstanding derivative instruments were as follows:

	Balance sheet location	December 31, 2023		December 31, 2022
Derivative assets of options and forward contracts:
Designated cash flow hedges	Prepaid expenses and other current assets	$	4,477	$	-
Non-designated hedges	Prepaid expenses and other current assets		410		-
Total derivative assets		$	4,887	$	-
Derivative liabilities of options and forward contracts:
Designated cash flow hedges	Accrued expenses and other current liabilities	$	-	$	(1,874	)
Non-designated hedges	Accrued expenses and other current liabilities		-		-
Total derivative liabilities		$	-	$	(1,874	)

Gains (losses) on derivative instruments are summarized below:

		Year ended December 31,
	Affected line item	2023			2022			2021
Foreign exchange contracts
Non Designated Hedging Instruments	Consolidated Statements of Income - Financial income (expense), net	$	2,337		$	4,716		$	9,417
Designated Hedging Instruments	Consolidated Statements of Comprehensive Income - Cash flow hedges	$	(1,990	)	$	(8,965	)	$	3,289

See Note 21 for information regarding gains (losses) from designated hedging instruments reclassified from accumulated other comprehensive loss.

INCOME TAXES (Schedule of Income (Loss) Before Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 49,758	$ 47,324	$ 13,659
Foreign	31,341	129,831	173,565
Income before income taxes	$ 81,099	$ 177,155	$ 187,224

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

OTHER LONG TERM LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Tax liabilities	$ 3,577	$ 3,830
Accrued severance pay	12,967	9,848
Prepaid expenses and other	1,900	2,078
Other non-current liabilities	$ 18,444	$ 15,756

WARRANTY OBLIGATIONS

12 Months Ended

Dec. 31, 2023

Product Warranties Disclosures [Abstract]

WARRANTY OBLIGATIONS

NOTE 14: WARRANTY OBLIGATIONS

Changes in the Company’s product warranty obligations for the years ended December 31, 2023, 2022 and 2021 were as follows:

	December 31,
	2023			2022			2021
Balance, at the beginning of the period	$	385,057		$	265,160		$	204,994
Accruals for warranty during the period		250,266			211,202			127,057
Changes in estimates		20,017			1,914			7,685
Settlements		(137,096	)		(93,219	)		(74,576	)
Balance, at end of the period		518,244			385,057			265,160
Less current portion		(183,047	)		(103,975	)		(71,480	)
Long term portion	$	335,197		$	281,082		$	193,680

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of fair values of outstanding derivative instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative assets of options and forward contracts:
Total derivative assets	$ 4,887	$ 0
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepaid Expense and Other Assets, Current
Derivative liabilities of options and forward contracts:
Total derivative liabilities	$ 0	$ (1,874)
Designated cash flow hedges [Member]
Derivative assets of options and forward contracts:
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Derivative liabilities of options and forward contracts:
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Other Accrued Liabilities, Current	Accounts Payable and Other Accrued Liabilities, Current
Designated cash flow hedges [Member] \| Prepaid expenses and other current assets [Member]
Derivative assets of options and forward contracts:
Total derivative assets	$ 4,477	$ 0
Designated cash flow hedges [Member] \| Accrued expenses and other current liabilities [Member]
Derivative liabilities of options and forward contracts:
Total derivative liabilities	$ 0	$ (1,874)
Non-designated hedges [Member]
Derivative assets of options and forward contracts:
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current
Derivative liabilities of options and forward contracts:
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Other Accrued Liabilities, Current	Accounts Payable and Other Accrued Liabilities, Current
Non-designated hedges [Member] \| Prepaid expenses and other current assets [Member]
Derivative assets of options and forward contracts:
Total derivative assets	$ 410	$ 0
Non-designated hedges [Member] \| Accrued expenses and other current liabilities [Member]
Derivative liabilities of options and forward contracts:
Total derivative liabilities	$ 0	$ 0

BUSINESS COMBINATIONS (Schedule of Fair Values Estimation of Assets Acquired and Liabilities Assumed) (Details) $ in Thousands	Apr. 06, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Cash	$ 448
Net liabilities assumed	(1,837)
Total	18,346
Current technology [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 6,576
Weighted average life	5 years
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 283
Weighted average life	1 year
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 610
Weighted average life	5 years
Goodwill [Member]
Finite-Lived Intangible Assets [Line Items]
Identified intangible assets:	$ 12,266

PROPERTY, PLANT AND EQUIPMENT, NET (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 49,544	$ 40,580	$ 29,359
Amount of impairment loss	$ 25,168	$ 649	$ 2,113

MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Marketable Securities Tables Abstract

Schedule of available-for-sale marketable securities

The following is a summary of available-for-sale marketable securities at December 31, 2023:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	487,083	$	679	$	(5,942	)	$	481,820
U.S. Treasury securities		15,324		-		(63	)		15,261
U.S. Government agency securities		8,787		11		(3	)		8,795
Non-U.S. Government securities		15,161		673		(140	)		15,694
		526,355		1,363		(6,148	)		521,570
Matures after one year:
Corporate bonds		342,223		1,902		(4,444	)		339,681
U.S. Treasury securities		2,430		-		(22	)		2,408
U.S. Government agency securities		44,100		107		(121	)		44,086
Non-U.S. Government securities		20,488		1,162		-			21,650
		409,241		3,171		(4,587	)		407,825
Total	$	935,596	$	4,534	$	(10,735	)	$	929,395

The following is a summary of available-for-sale marketable securities at December 31, 2022:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Matures within one year:
Corporate bonds	$	222,482	$	-	$	(4,657	)	$	217,825
U.S. Treasury securities		15,963		-		(284	)		15,679
Non-U.S. Government securities		7,882		-		(269	)		7,613
		246,327		-		(5,210	)		241,117
Matures after one year:
Corporate bonds		657,238		80		(26,460	)		630,858
U.S. Treasury securities		9,939		-		(261	)		9,678
Non-U.S. Government securities		5,311		-		(356	)		4,955
		672,488		80		(27,077	)		645,491
Total	$	918,815	$	80	$	(32,287	)	$	886,608

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements are prepared according to United States generally accepted accounting principles (“U.S. GAAP”).

a. Principles of consolidation:

b. Use of estimates:

c. Financial statements in U.S. dollars:

d. Cash and cash equivalents:

Cash equivalents are short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired.

e. Restricted bank deposits:

f. Marketable Securities:

The Company has not recorded credit losses on AFS debt securities for the years ended December 31, 2023, 2022 and 2021.

g. Investment in privately-held companies:

The Company adjusts the carrying value of its investments to fair value upon observable transactions for identical or similar investments of the same issuer.

All gains and losses on investments in privately-held companies, realized and unrealized, are recognized in other income (loss).

h. Trade receivables:

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of trade receivables to present the net amount expected to be collected:

	Year Ended December 31, 2023
Balance, at beginning of the period	$	3,202
Increase in provision for expected credit losses		13,760
Recoveries collected		(134	)
Amounts written off charged against the allowance		(568	)
Foreign currency translation		140
Balance, at end of the period	$	16,400

i. Loan receivables:

j. Inventories:

k. Property, plant and equipment:

		%
Buildings and plants		2.5-5.7 (mainly 2.5)
Computers and peripheral equipment		14.3-33.3 (mainly 33.3)
Office furniture and equipment		7-25 (mainly 7)
Machinery and equipment		10-25 (mainly 10)
Laboratory and testing equipment		10-20 (mainly 10)
Leasehold improvements		over the shorter of the lease term or useful economic life

l. Government assistance

Advanced manufacturing production tax credits

Property, plant and equipment

The Company did not record reduction of property, plant and equipment for the year ended December 31, 2023.

The Company recorded reduction of property, plant and equipment in the amount of $7,359 for the year ended December 31, 2022.

As of December 31, 2023, the Company has a right to receive of $2,018 that has yet to be received which was recorded under “Prepaid expenses and other current assets”.

m. Leases:

n. Business Combination:

o. Intangible Assets:

p. Impairment of long-lived assets:

q. Goodwill:

The goodwill impairment test is performed according to the following principles:

(1) An initial qualitative assessment may be performed to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount.

For the year ended December 31, 2023, the Company did not record any impairment charges.

For the year ended December 31, 2022, the Company recorded impairment charges of goodwill in the amount of $90,104.

For the year ended December 31, 2021, the Company did not record any impairment charges.

r. Cloud computing arrangements:

s. Severance pay:

If applicable, severance costs are recorded in each entity in accordance with local laws and regulations.

For the years ended December 31, 2023, 2022 and 2021, the Company recorded $23,643, $17,202 and $14,231 in severance expenses related to its employees, respectively.

t. Derivatives and Hedging:

The Company classifies cash flows related to its hedging as operating activities in its consolidated statement of cash flows.

u. Revenue recognition:

(1) Identify the contract with a customer

(2) Identify the performance obligations in the contract

(3) Determine the transaction price

As of December 31, 2023, the Company has not provided payment terms of more than a year.

(4) Allocate the transaction price to the performance obligations in the contract

The Company performs an allocation of the transaction price to each separate performance obligation, in proportion to their relative standalone selling prices.

(5) Recognize revenue when a performance obligation is satisfied

v. Cost of revenues:

w. Warranty obligations:

The Company performs accelerated life cycle testing, which simulates the service life of the product in a short period of time.

Warranty obligations are classified as short-term and long-term obligations based on the period in which the warranty is expected to be claimed.

x. Convertible senior notes:

y. Advertising costs

z. Research and development costs:

Research and development costs, are charged to the consolidated statement of income as incurred.

aa. Concentrations of credit risks:

The trade receivables of the Company derive from sales to customers located primarily in the United States and Europe.

ab. Concentrations of supply risks:

As of December 31, 2023 and 2022, two contract manufacturers collectively accounted for 58.5% and 34.3% of the Company’s total trade payables, net, respectively.

ac. Fair value of financial instruments:

The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments:

Assets measured at fair value on a recurring basis as of December 31, 2023 and 2022 are comprised of money market funds, derivative instruments and marketable securities (see Note 13).

A three-tiered fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:

Level 1- Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2- Include other inputs that are directly or indirectly observable in the marketplace.

Level 3- Unobservable inputs which are supported by little or no market activity.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

ad. Stock-based compensation:

The fair value for options, PSU and ESPP granted to employees is estimated at the date of grant using the following assumptions:

	Year ended December 31,
	2023	2022	2021
Employee Stock Options ⁽¹⁾
Risk-free interest	-	-	0.43%
Dividend yields	-	-	0%
Volatility	-	-	60.74%
Expected option term in years	-	-	5.48
Estimated forfeiture rate	-	-	0%
ESPP
Risk-free interest	5.38% - 5.46%	1.64% - 4.70%	0.03% - 0.10%
Dividend yields	0%	0%	0%
Volatility	56.44% - 66.78%	71.28% - 71.97%	48.39% - 76.05%
Expected term	6 months	6 months	6 months
PSU
Risk-free interest	4.09%	1.77%	-
Dividend yields	0%	0%	-
Volatility	71.60%	67.42%	-
Expected term	3 years	1 - 3 years	-

⁽¹⁾ No new options were granted in 2023 and 2022.

ae. Earnings per share

Basic net EPS is computed by dividing the net earnings attributable to SolarEdge Technologies, Inc. by the weighted-average number of shares of common stock outstanding during the period.

af. Income taxes:

ag. New accounting pronouncements not yet effective:

ah. Recently issued and adopted pronouncements:

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Measurements Tables Abstract

Schedule of Assets and Liabilities Measured at Fair Value

		Fair value measurements as of
Description	Fair Value Hierarchy	December 31, 2023		December 31, 2022
Assets:
Cash and cash equivalents:
Cash	Level 1	$	309,521	$	695,004
Money market mutual funds	Level 1	$	22,311	$	25,149
Deposits	Level 1	$	6,636	$	62,959
Derivative instruments	Level 2	$	4,887	$	-
Short-term marketable securities:
Corporate bonds	Level 2	$	481,820	$	217,825
U.S. Treasury securities	Level 2	$	15,261	$	15,679
U.S. Government agency securities	Level 2	$	8,795	$	-
Non-U.S. Government securities	Level 2	$	15,694	$	7,613
Long-term marketable securities:
Corporate bonds	Level 2	$	339,681	$	630,858
U.S. Treasury securities	Level 2	$	2,408	$	9,678
U.S. Government agency securities	Level 2	$	44,086	$	-
Non-U.S. Government securities	Level 2	$	21,650	$	4,955
Liabilities:
Derivative instruments	Level 2	$	-	$	(1,874	)

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 25: INCOME TAXES

a.	Tax rates in the U.S:

The Company is subject to U.S. federal tax at the rate of 21%.

On December 22, 2017, the Tax Cuts and Jobs Act (the "Tax Act") was signed into law making significant changes to U.S. income tax law. These changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years 2018 onwards and created new taxes on certain foreign-sourced earnings and certain related-party payments - the Global Intangible Low Taxed Income (“GILTI”). Furthermore, changes introduced by the Tax Act to Section 174 of the Internal Revenue Code, that came into effect on January 1, 2022, require taxpayers to amortize research and development expenditures over five years (if incurred in the U.S.) or fifteen years (if incurred outside the U.S.), thereby increasing taxable income and payable tax.

The Tax Act required the Company to pay U.S. income taxes on accumulated foreign subsidiaries earnings not previously subject to U.S. income tax at a rate of 15.5% to the extent of foreign cash and certain other net current assets and 8% on the remaining earnings. The total tax liability was calculated to approximately $8,500, which will be paid over the eight-year period provided in the Tax Act (ending 2024).

b.	Corporate tax in Israel:

The taxable income of Israeli companies is subject to corporate tax at the rate of 23%. The Israeli subsidiary is also eligible for tax benefits as further described in note 25j.

c.	Carryforward tax losses:

As of December 31, 2023, the foreign subsidiaries have carryforward tax losses of $205,263 which do not have an expiration date.

d.	Deferred taxes:

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 used for income tax purposes.

Significant components of the Company’s deferred tax liabilities and assets are as follows:

	December 31,
	2023			2022
Deferred tax assets, net:
Research and Development carryforward expenses	$	25,527		$	9,335
Carryforward tax losses⁽¹⁾		44,294			19,916
Stock based compensation expenses		28,715			9,863
Deferred revenue		13,244			8,954
Lease liabilities		12,872			6,520
Inventory Impairment		11,136			627
Foreign currency translation		4,985			6,987
Allowance and other reserves		17,367			23,255
Total Gross deferred tax assets, net	$	158,140		$	85,457
Less, Valuation Allowance		(51,245	)		(23,777	)
Total deferred tax assets, net	$	106,895		$	61,680
Deferred tax liabilities, net:
Intercompany transactions	$	(4,470	)	$	(6,292	)
Right-of-use assets		(13,353	)		(6,618	)
Purchase price allocation		(4,129	)		(4,617	)
Property, plant and equipment		(5,481	)		-
Total deferred tax liabilities, net	$	(27,433	)	$	(17,527	)
Recorded as:
Deferred tax assets, net	$	80,912		$	44,153
Deferred tax liabilities, net		(1,450	)		-
Net deferred tax assets	$	79,462		$	44,153

⁽¹⁾Related to deferred tax assets that would only be realizable upon the generation of net income in certain foreign jurisdictions.

The Company’s Israeli subsidiary’s tax-exempt profit from Benefited Enterprises (as defined in note 25j) is permanently reinvested, Therefore, deferred taxes have not been provided for such tax-exempt income.

The Company may incur additional tax liability in the event of intercompany dividend distributions by some of its subsidiaries. Such additional tax liability in respect of these subsidiaries has not been provided for in the Financial Statements as the Company’s management and the Board of Directors has determined that the Company intends to reinvest earnings of its subsidiaries indefinitely.

e.	Uncertain tax positions are comprised as follows:

	December 31,
	2023			2022		2021
Balance, at the beginning of the period	$	2,756		$	2,192	$	10,564
Increases related to current year tax positions		1,502			564		635
Increase for tax positions related to prior years		11,778			-		-
Decreases related to prior year tax positions		(128	)		-		(9,007	)
Balance, at end of the period	$	15,908		$	2,756	$	2,192

The total amount of gross unrecognized tax benefits above would affect the Company's effective tax rate, if recognized.

The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. As of December 31, 2023, the Company accrued $2,927.

The total amount of penalties and interest were not material as of December 31, 2022 and 2021.

It is reasonably possible that the Company’s gross unrecognized tax benefits will decrease by an insignificant amount in the next 12 months, primarily due to the lapse of the statute of limitations.

f.	Income before income taxes are comprised as follows:

	Year ended December 31,
	2023		2022		2021
Domestic	$	49,758	$	47,324	$	13,659
Foreign		31,341		129,831		173,565
Income before income taxes	$	81,099	$	177,155	$	187,224

g.	Income taxes (tax benefit) are comprised as follows:

	Year ended December 31,
	2023			2022			2021
Current taxes:
Domestic	$	42,960		$	56,958		$	(7,872	)
Foreign		46,531			37,473			37,564
Total current taxes		89,491			94,431			29,692
Deferred taxes:
Domestic		(2,244	)		(8,955	)		(3,682	)
Foreign		(40,827	)		(2,100	)		(7,956	)
Total deferred taxes		(43,071	)		(11,055	)		(11,638	)
Income taxes, net	$	46,420		$	83,376		$	18,054

h.	Reconciliation of theoretical tax expense to actual tax expense:

The differences between the statutory tax rate of the Company and the effective tax rate are result of a variety of factors, including different effective tax rates applicable to non-US subsidiaries that have tax rates different than the Company tax rate, tax benefits relating to stock-based compensation and adjustments to valuation allowances on deferred tax assets of such subsidiaries.

A reconciliation between the theoretical tax expense and the actual tax expense as reported in the consolidated statements of income is as follows:

	Year ended December 31,
	2023			2022			2021
Statutory tax rate		21	%		21	%		21	%
Effect of:
Income tax at rate other than the U.S. statutory tax rate		(37.3	)%		(10.8	)%		(7.4	)%
Losses and timing differences for which valuation allowance was provided		27.7	%		5.2	%		2.7	%
Prior year income taxes (benefit)		(1.0	)%		2.9	%		(4.4	)%
R&D Capitalization and other effects of TCJA		42.5	%		18.9	%		0.1	%
Non-deductible expenses		4.5	%		13.2	%		2.0	%
Other individually immaterial income tax items, net		(0.2	)%		(3.3	)%		(4.4	)%
Effective tax rate		57.2	%		47.1	%		9.6	%

i.	Tax assessments:

The Israeli tax authorities issued a tax order for tax year 2016 and tax assessments for tax years 2017 and 2018 against the Company’s Israeli subsidiary, challenging the subsidiary's positions on several issues. The Israeli subsidiary has protested the order before the Central District Court in Israel and appealed the tax assessments.

The Company believes it has adequately provided for these items, however adverse results could have a material impact on the Company’s financial statements.

As of December 31, 2023, the Company and certain of its subsidiaries filed U.S. federal and various state and foreign income tax returns. The statute of limitations relating to the consolidated U.S. federal income tax return is closed for all tax years up to and including 2018.

The statute of limitations related to tax returns of the Company’s Israeli subsidiary for all tax years up to and including 2015 has lapsed.

The statute of limitations related to tax returns of the Company’s other subsidiaries has lapsed for part of the tax years, which differs between the different subsidiaries.

j.	Tax benefits for Israeli companies under the Law for the Encouragement of Capital Investments, 1959 (the “Investments Law”):

The Israeli subsidiary elected tax year 2012 as a "Year of Election" for “Benefited Enterprise” status under the Investments Law. According to the Investments Law, the Israeli subsidiary elected to participate in the alternative benefits program which provides certain benefits, including tax exemptions and reduced tax rates (which depend on, inter alia, the geographic location in Israel). Income not eligible for Benefited Enterprise benefits is taxed at a regular corporate tax rate.

Upon meeting the requirements under the Investments Law, undistributed income derived from Benefited Enterprise from productive activity will be exempt from tax for two years from the year in which the Israeli subsidiary first has taxable income (“exempt period”), provided that 12 years have not passed from the beginning of the year of election.

On October 24, 2018, the Company’s Israeli subsidiary received an approval from the Israeli Tax Authorities confirming the applicability of the two-year tax exemption as provided in the Investments Law until December 31, 2018. As of December 31, 2018, approximately $289,900 was derived from tax exempt profits earned by the Israeli subsidiary “Benefited Enterprises” in the two tax years exempt period, tax years 2017 - 2018. The Company has determined that such tax-exempt income will not be distributed as dividends and intends to reinvest the amount of its tax-exempt income earned by the Israeli subsidiary. Accordingly, no provision for deferred income taxes has been provided on income attributable to the Israeli subsidiary “Benefited Enterprises” as such income is essentially permanently reinvested.

If the Israeli subsidiary’s retained tax-exempt income is distributed, the income would be taxed at the applicable corporate tax rate which depends on the foreign ownership in each tax year.

Through December 31, 2023, the Israeli subsidiary had generated income under the provision of the Investments Law.

Pursuant to amendment 73 to the Investments Law (the “2017 Amendment"), a preferred enterprise located in development area A will be subject to a tax rate of 7.5% instead of 9% effective from January 1, 2017 and thereafter (the tax rate applicable to preferred enterprises located in other areas remains at 16%).

The 2017 Amendment also prescribes special tax tracks for preferred technological enterprises (“PTE”), which are subject to rules that were issued by the Ministry of Finance.

On June 14, 2017, the Encouragement of Capital Investments Regulations (Preferred Technological Income and Capital Gain for Technological Enterprise), 2017 (the “Regulations”) were published.

The Regulations describe, inter alia, the mechanism used to determine the calculation of the benefits under the PTE regime. According to these regulations, a company that complies with the terms under the PTE regime may be entitled to certain tax benefits with respect to income generated during the company’s regular course of business and derived from the preferred intangible asset, excluding income derived from intangible assets used for marketing and income attributed to production activity.

A PTE, which is located in the center of Israel will be subject to tax at a rate of 12% on profits deriving from intellectual property, or 6% if its annual revenues exceed NIS 10 billion ("Threshold"). The Israeli subsidiary notified the ITA of its election to implement the PTE with effect from January 1, 2019, and its PTE income was subject to a 12% tax rate in the years 2019-2021, and in 2022-2023 to a 6% tax rate as the group surpassed the Threshold. The Company currently expects not to meet the Threshold in 2024 and consequently expects its tax on its PTE income to be 12% in 2024. The Company adjusted its deferred taxes accordingly.

Tax Benefits for Research and Development:

Israeli tax law (section 20A to the Israeli Tax Ordinance (New Version), 1961) allows a tax deduction for research and development expenses, including capital expenses, in the year in which they are paid. Such expenses must relate to scientific research in industry, agriculture, transportation or energy, and must be approved by the relevant Israeli government ministry, determined by the field of research. Expenses incurred in scientific research that are not approved by the relevant government ministry are amortized over a three-year period starting from the tax year in which they are paid. The Company’s Israeli subsidiary intends to submit a formal request to the relevant government ministry in order to obtain such approval for 2019 - 2021.

k.	Tax benefits under the Law for the Encouragement of Industry (Taxes), 1969:

The Company’s Israeli subsidiary claims currently to be qualified as ‘industrial company’ as defined by this law and as such, is entitled to certain tax benefits, consisting mainly of accelerated depreciation and amortization of patents and certain other intangible property.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Earnings (Loss) Per Share

	Year ended December 31,
	2023		2022		2021
Basic:
Numerator:
Net income	$	34,329	$	93,779	$	169,170
Denominator:
Shares used in computing net EPS of common stock, basic		56,557,106		55,087,770		52,202,182
Diluted:
Numerator:
Net income attributable to common stock, basic	$	34,329	$	93,779	$	169,170
Notes due 2025		-		2,203		2,134
Net income attributable to common stock, diluted	$	34,329	$	95,982	$	171,304
Denominator:
Shares used in computing net EPS of common stock, basic		56,557,106		55,087,770		52,202,182
Notes due 2025		-		2,276,818		2,276,818
Effect of stock-based awards		680,412		736,061		1,492,030
Shares used in computing net EPS of common stock, diluted		57,237,518		58,100,649		55,971,030
Earnings per share:
Basic	$	0.61	$	1.70	$	3.24
Diluted	$	0.60	$	1.65	$	3.06

Shares excluded from the calculation of net diluted due to their anti-dilutive effect		1,994,328		207,980		132,133

INCOME TAXES (Narrative) (Details) $ in Thousands, ₪ in Billions	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Dec. 31, 2023 ILS (₪)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018 USD ($)	Dec. 31, 2023 USD ($)
Income Taxes [Line Items]
Corporate tax rate (as a percent)	35.00%	21.00%	21.00%	21.00%
U.S. income tax rate for foreign subsidiaries earnings		15.50%
U.S. income tax rate for foreign subsidiaries earnings for other net current assets on remaining earnings		8.00%
Total tax liability						$ 8,500
Interest and penalties accrued drelated to unrecognized tax benefits						2,927
Tax rate after amendment to investments law in Development area A		7.50%
Tax rate before amendment to investments law in Development area A		9.00%
Tax rate in other areas		16.00%
Tax rate for preferred technological enterprises (PTE) in other areas		12.00%
Tax rate if annual revenues exceed threshold limit		6.00%
Annual revenue \| ₪		₪ 10
Foreign Subsidiaries [Member]
Income Taxes [Line Items]
Carryforward tax losses						$ 205,263
Israel [Member] \| Subsidiaries [Member]
Income Taxes [Line Items]
Corporate tax rate (as a percent)		23.00%
Tax exempt profits					$ 289,900

GOODWILL (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
GOODWILL (Narrative) (Details) - USD ($) $ in Thousands	Oct. 31, 2022	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill, Impairment Loss			$ 0	$ 90,104	$ 0
Accumulated goodwill impairment losses			$ 90,104	$ 90,104
e-Mobility components and telematics [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss	$ 80,534
Automation Machines [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss	$ 6,788
Critical Power [Member]
Goodwill [Line Items]
Goodwill, Impairment Loss		$ 2,782

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

OTHER LONG TERM ASSETS

12 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

OTHER LONG TERM ASSETS

NOTE 11: OTHER LONG TERM ASSETS

	As of December 31,
	2023		2022
Cloud computing arrangements	$	13,666	$	3,457
Severance pay fund		9,241		8,799
Investments in privately held companies¹		7,650		1,863
Loan receivables		2,438		-
Prepaid expenses and other		4,606		4,687
Total other long term assets	$	37,601	$	18,806

¹In January 2023, the Company completed an investment of $5,500 in the common stock of a privately-held company which represents 34.8% of its outstanding shares. The Company accounted for this investment using the equity method of accounting. The Company's share of net loss for the year ended December 31, 2023 was $350.

SEGMENT, GEOGRAPHIC AND PRODUCT INFORMATION (Schedule of Reportable Segments and Operating Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 2,976,528	$ 3,110,279	$ 1,963,865
Cost of revenues	2,272,705	2,265,631	1,334,547
Gross profit (loss)	703,823	844,648	629,318
Research and Development Expense	321,482	289,814	219,633
Sales and marketing	164,318	159,680	119,000
General and administrative	146,504	112,496	82,196
Segments profit (loss)	34,329	93,779	169,170
Solar segment profit	364,517	486,862	368,746
Energy storage segment profit (loss)	(60,119)	(13,863)	2,503
All other segment loss	(14,374)	(31,274)	(49,890)
Segments operating profit	290,024	441,725	321,359
Amounts not allocated to segments:
Stock based compensation expenses	(149,945)	(145,539)	(102,593)
Amortization and depreciation of acquired assets	(7,969)	(9,478)	(10,812)
Impairment of goodwill and long-lived assets	(30,790)	(119,141)	0
Restructuring and other exit activities	(60,189)	(4,314)	0
Other unallocated income (expenses), net	(926)	2,867	(815)
Consolidated operating income	40,205	166,120	207,139
Solar [Member]
Segment Reporting Information [Line Items]
Revenues	2,815,539	2,921,175	1,787,280
Cost of revenues	1,994,578	2,050,147	1,136,896
Gross profit (loss)	820,961	871,028	650,384
Research and Development Expense	226,776	196,381	143,173
Sales and marketing	126,207	118,154	85,309
General and administrative	103,461	69,631	53,156
Segments profit (loss)	364,517	486,862	368,746
Energy Storage [Member]
Segment Reporting Information [Line Items]
Revenues	83,717	76,325	83,430
Cost of revenues	112,518	63,752	61,099
Gross profit (loss)	(28,801)	12,573	22,331
Research and Development Expense	17,370	15,108	10,289
Sales and marketing	3,539	4,095	3,698
General and administrative	10,409	7,233	5,841
Segments profit (loss)	(60,119)	(13,863)	2,503
All Other [Member]
Segment Reporting Information [Line Items]
Revenues	76,438	112,165	92,737
Cost of revenues	75,469	118,171	108,483
Gross profit (loss)	969	(6,006)	(15,746)
Research and Development Expense	9,403	13,908	20,217
Sales and marketing	2,654	5,592	6,232
General and administrative	3,286	5,768	7,695
Segments profit (loss)	$ (14,374)	$ (31,274)	$ (49,890)

RESTRUCTURING AND OTHER EXIT ACTIVITIES (Schedule of restructuring and other exit charges by reportable segments and type of cost) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Total	$ 60,189
Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	59,801
Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	4
General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	384
Solar [Member] \| Employee termination costs [Member]
Restructuring Cost and Reserve [Line Items]
Total	2,561
Solar [Member] \| Employee termination costs [Member] \| Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	2,561
Solar [Member] \| Employee termination costs [Member] \| Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
Solar [Member] \| Employee termination costs [Member] \| General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
Solar [Member] \| Contract termination and other [Member]
Restructuring Cost and Reserve [Line Items]
Total	20,593
Solar [Member] \| Contract termination and other [Member] \| Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	20,593
Solar [Member] \| Contract termination and other [Member] \| Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
Solar [Member] \| Contract termination and other [Member] \| General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
All other [Member] \| Employee termination costs [Member]
Restructuring Cost and Reserve [Line Items]
Total	301
All other [Member] \| Employee termination costs [Member] \| Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
All other [Member] \| Employee termination costs [Member] \| Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	4
All other [Member] \| Employee termination costs [Member] \| General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	297
All other [Member] \| Inventory write-off [Member]
Restructuring Cost and Reserve [Line Items]
Total	27,158
All other [Member] \| Inventory write-off [Member] \| Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	27,158
All other [Member] \| Inventory write-off [Member] \| Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
All other [Member] \| Inventory write-off [Member] \| General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
All other [Member] \| Contract termination and other [Member]
Restructuring Cost and Reserve [Line Items]
Total	9,576
All other [Member] \| Contract termination and other [Member] \| Cost of revenues [Member]
Restructuring Cost and Reserve [Line Items]
Total	9,489
All other [Member] \| Contract termination and other [Member] \| Sales and marketing [Member]
Restructuring Cost and Reserve [Line Items]
Total	0
All other [Member] \| Contract termination and other [Member] \| General and administrative [Member]
Restructuring Cost and Reserve [Line Items]
Total	$ 87

RESTRUCTURING AND OTHER EXIT ACTIVITIES

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER EXIT ACTIVITIES

NOTE 24: RESTRUCTURING AND OTHER EXIT ACTIVITIES

In October of 2023, the Company made an announcement regarding its restructuring plans to adjust its manufacturing capacity and increase operating efficiency, including terminating the manufacturing process in Mexico, reducing manufacturing capacity in China, and discontinuing the Company’s LCV activity. The program is expected to be completed by the end of the first half of 2024. These decisions were made in order to better align the Company with current market conditions.

The Company determined that the discontinuation of the LCV activity does not represent a strategic shift that will have a major effect on the Company's operations and financial results and therefore it did not meet the criteria for discontinued operations classification.

Restructuring and other exit charges for the year ended December 31, 2023 by segments and type of cost were as follows:

	Solar				e-Mobility
	Employee termination costs		Contract termination and other		Employee termination costs		Inventory write-down		Contract termination and other		Total
Cost of revenues	$	2,561	$	20,593	$	-	$	27,158	$	9,489	$	59,801
Sales and marketing		-		-		4		-		-		4
General and administrative		-		-		297		-		87		384
Total	$	2,561	$	20,593	$	301	$	27,158	$	9,576	$	60,189

For the year ended December 31, 2022, the Company recorded $4,314 of inventory write-downs in cost of revenues as a result of Critical Power's discontinuation.

The Company did not record any restructuring and other exit activities costs for the year ended December 31, 2021

The Company’s liability balance for the restructuring and other exit charges is as follows:

	Employee termination costs			Inventory write-down ¹		Contract termination and other
Balance as of January 1, 2023	$	-		$	-	$	-
Charges		2,862			27,158		30,169
Cash payments		(548	)		-		-
Foreign currency adjustments		59			616		224
Balance as of December 31, 2023	$	2,373		$	27,774	$	30,393

¹Inventory write-down is included under Inventories, net on the balance sheet.

The total amount expected to be incurred for restructuring and other exit charges, which primarily consists of contract terminations related to the solar segment, is $10,558.