v3.24.3

PROPERTY, PLANT AND EQUIPMENT, NET | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 7: PROPERTY, PLANT AND EQUIPMENT, NET
|  | September 30, 2024 |  |  | December 31, 2023 |
Cost: |  |  |  |  |  |
Land |  | $ | 10,112 |  |  | $ | 12,823 |
Buildings and plants |  |  | 122,437 |  |  |  | 153,813 |
Computers and peripheral equipment |  |  | 51,978 |  |  |  | 57,527 |
Office furniture and equipment |  |  | 9,149 |  |  |  | 10,992 |
Laboratory and testing equipment |  |  | 63,921 |  |  |  | 67,248 |
Machinery and equipment |  |  | 194,534 |  |  |  | 362,363 |
Leasehold improvements |  |  | 112,019 |  |  |  | 96,730 |
Assets under construction and payments on account |  |  | 46,656 |  |  |  | 88,077 |
Gross property, plant and equipment |  |  | 610,806 |  |  |  | 849,573 |
Less - accumulated depreciation |  |  | 186,901 |  |  |  | 234,994 |
Total property, plant and equipment, net |  | $ | 423,905 |  |  | $ | 614,579
The Company evaluates the recoverability of the carrying amount of its property, plant and equipment when events or circumstances indicate the carrying amount of an asset or asset group may not be recoverable. If the Company determines the carrying amount of an asset or asset group is not recoverable based upon the expected undiscounted future cash flows of the asset or asset group, an impairment loss is recorded equal to the excess of the carrying amounts over the estimated fair values of the property, plant and equipment. During the third quarter of 2024, the Company identified certain conditions in which, events or changes in circumstances indicated that the carrying value of certain long-lived assets may not be recoverable and as a result conducted impairment assessments. Upon completion of such assessments, the Company disposed by abandonment and impaired certain property, plants and equipment, including but not limited to, machinery, buildings, plants, and assets under construction in the Solar and Energy Storage asset groups. During the three and nine months ended September 30, 2024, the Company recorded impairment and abandonment by disposal of property, plant and equipment in the amount of $204,888 and $206,620, respectively, under Other operating expense (income), net in the consolidated statements of income (loss) section. Depreciation expenses for the three months ended September 30, 2024 and 2023, were $13,965 and $12,627, respectively. Depreciation expenses for the nine months ended September 30, 2024, and 2023, were $40,464 and $36,118, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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