PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2014

PROPERTY AND EQUIPMENT, NET [Abstract]

NOTE 6 - PROPERTY AND EQUIPMENT, NET

A. Property and equipment, net consists of the following:

	US dollars
	December 31,
(in thousands)	2014			2013
Operating equipment (*)		46,947			46,991
Office furniture, equipment and computers		23,858			25,116
Land		1,022			1,022
Buildings		1,855			2,252
Vehicles		3,412			3,197
Leasehold improvements		3,088			3,099
		80,182			81,677
Less – accumulated depreciation and amortization (**)		(48,274	)		(49,131	)
		31,908			32,546

(*)

As December 31, 2014 and 2013, an amount of US$ 26.0 million and US$ 25.8 million is subject to operating lease transactions, respectively.

(**)

As at December 31, 2014 and 2013, an amount of US$ 10.4 million and US$ 11.3 million is subject to operating lease transactions, respectively.

B. In the years ended December 31, 2014, 2013 and 2012, depreciation expense was US$ 11.2 million, US$ 11.1 million and US$ 13.3 million, respectively and additional equipment was purchased in an amount of US$ 15 million, US$ 14 million and US$ 10 million, respectively.

C. After deduction of the cost and the accumulated depreciation of items fully depreciated.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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