XML 55 R39.htm IDEA: XBRL DOCUMENT
v3.23.1

Goodwill (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table sets forth the carrying amount and activity of goodwill as of December 31, 2022:
| December 31,
| 2022 |  | 2021
Balance at the beginning of the period | $ | 113,574 |  |  | $ | 1,739 |
Acquisitions (Note 3) | 8,319 |  |  | 112,756 |
Measurement period adjustment for business combinations from prior year | 24,745 |  |  | — |
Effect of exchange rate on goodwill | (10,175) |  |  | (921) |
Balance at the end of the period | $ | 136,463 |  |  | $ | 113,574 |
Schedule of Net Assets Acquired And Goodwill | As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustments |  | Final Valuation
Property and equipment | $ | 6,009 |  |  | $ | (1,017) |  |  | $ | 4,992 |
Developed technology | 43,594 |  |  | (26,289) |  |  | 17,305 |
In-progress research & development | 10,304 |  |  | (10,304) |  |  | — |
Customer relationships | 12,682 |  |  | 377 |  |  | 13,059 |
Backlog | 2,378 |  |  | (2,362) |  |  | 16 |
Trade name | 6,125 |  |  | 821 |  |  | 6,946 |
Deferred tax liabilities, non-current | (20,272) |  |  | 10,242 |  |  | (10,030) |
Goodwill | 103,721 |  |  | 28,532 |  |  | 132,253 |
As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustment |  | Final Valuation
Property and equipment | $ | 1,315 |  |  | $ | 109 |  |  | $ | 1,424 |
Developed technology | 5,077 |  |  | (5,077) |  |  | — |
In-progress research & development | 1,562 |  |  | 8,538 |  |  | 10,100 |
Current liabilities | (754) |  |  | 217 |  |  | (537) |
Goodwill | 9,089 |  |  | (3,787) |  |  | 5,302 |
As of December 31, 2022, the Company finalized the opening net assets acquired and goodwill as follows:
| Preliminary Valuation |  | Adjustment |  | Final Valuation
Purchase price - contingent considerations | $ | 8,204 |  |  | $ | (368) |  |  | $ | 7,836 |
Inventory | 2,020 |  |  | (90) |  |  | 1,930 |
Developed technology | 6,631 |  |  | (1,571) |  |  | 5,060 |
In-progress research & development | 2,170 |  |  | 1,890 |  |  | 4,060 |
Customer relationships | 2,411 |  |  | 2,099 |  |  | 4,510 |
Backlog | 603 |  |  | (253) |  |  | 350 |
Trade name | 965 |  |  | 1,625 |  |  | 2,590 |
Deferred tax liability | (2,935) |  |  | 1,880 |  |  | (1,055) |
Goodwill | 14,267 |  |  | (5,948) |  |  | 8,319 |
Subsequent to the issuance of the financial statements for the fiscal year ended December 31, 2021, the Company identified a misstatement in the financial statements related to the recognition of deferred taxes in the purchase accounting for ON Design Israel. The Company recorded the following adjustment:
| December 31, 2021
| Initially reported |  | Adjustment |  | Corrected
Goodwill | $ | 115,206 |  |  | $ | (1,632) |  |  | $ | 113,574 |
Deferred tax liabilities, non-current | $ | 21,164 |  |  | $ | (1,632) |  |  | $ | 19,532 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 55 -Paragraph 24 -URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration