XML 44 R25.htm IDEA: XBRL DOCUMENT
v3.8.0.1

SEGMENT REPORTING | 12 Months Ended
--- | ---
Dec. 31, 2017
Segment Reporting [Abstract] |
SEGMENT REPORTING |
NOTE 18 | - | SEGMENT REPORTING
| A. | General information:
The operations of the Group are conducted through two different core activities: Location based services and Wireless communications products. These activities also represent the reportable segments of the Group. The reportable segments are viewed and evaluated separately by Company management, since the marketing strategies, processes and expected long term financial performances of the segments are different. Location based services: The Location based services segment consists predominantly of regionally- based stolen vehicle recovery (SVR) services, fleet management services and value-added services comprised of personal advanced locater services and concierge services. The Group provides Location based services in Israel, Brazil, Argentina and the United States. Wireless communications products: The wireless communications product segment consists of short and medium range two-way machine-to-machine wireless communications products that are used for various applications, including automatic vehicle location, and automatic vehicle identification.
| B. | Information about reported segment profit or loss and assets:
|  | US dollars |
(in thousands) |  | Location based services |  |  | Wireless communications products |  |  | Total |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |
Revenues |  |  | 169,752 |  |  |  | 64,884 |  |  |  | 234,636 |
Operating income |  |  | 55,012 |  |  |  | 1,523 |  |  |  | 56,535 |
Assets |  |  | 95,384 |  |  |  | 17,192 |  |  |  | 112,576 |
Goodwill |  |  | 1,732 |  |  |  | 2,045 |  |  |  | 3,777 |
Expenditures for assets |  |  | 9,346 |  |  |  | 681 |  |  |  | 10,027 |
Depreciation and amortization |  |  | 10,030 |  |  |  | 328 |  |  |  | 10,358 |
Year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | 141,940 |  |  |  | 57,634 |  |  |  | 199,574 |
Operating income |  |  | 44,045 |  |  |  | 3,953 |  |  |  | 47,998 |
Assets |  |  | 84,777 |  |  |  | 15,793 |  |  |  | 100,570 |
Goodwill |  |  | 1,562 |  |  |  | 1,844 |  |  |  | 3,406 |
Expenditures for assets |  |  | 9,063 |  |  |  | 268 |  |  |  | 9,331 |
Depreciation and amortization |  |  | 8,980 |  |  |  | 180 |  |  |  | 9,160 |
Year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | 127,683 |  |  |  | 47,945 |  |  |  | 175,628 |
Operating income |  |  | 37,268 |  |  |  | 3,376 |  |  |  | 40,644 |
Assets |  |  | 62,236 |  |  |  | 10,463 |  |  |  | 72,699 |
Goodwill |  |  | 1,539 |  |  |  | 1,817 |  |  |  | 3,356 |
Expenditures for assets |  |  | 14,478 |  |  |  | 393 |  |  |  | 14,871 |
Depreciation and amortization |  |  | 8,636 |  |  |  | 152 |  |  |  | 8,788 |
Impairment of goodwill and intangible assets |  |  | - |  |  |  | 929 |  |  |  | 929 |
| C. | Information about reported segment profit or loss and assets:
The evaluation of performance is based on the operating income of each of the two reportable segments. Accounting policies of the segments are the same as those described in the accounting policies applied in the consolidated financial statements. Due to the nature of the reportable segments, there have been no inter-segment sales or transfers during the reported periods. Financing expenses, net, non-operating other expenses, net, taxes on income and the share of the Company in losses of affiliated companies were not allocated to the reportable segments, since these items are carried and evaluated on the enterprise level.
| D. | Reconciliations of reportable segment revenues, profit or loss, and assets, to the enterprise’s consolidated totals:
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Total revenues of reportable segment and consolidated revenues |  |  | 234,636 |  |  |  | 199,574 |  |  |  | 175,628 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |
Total operating income for reportable segments |  |  | 56,535 |  |  |  | 47,998 |  |  |  | 40,644 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Financing income, net |  |  | (989 | ) |  |  | 2,056 |  |  |  | 1,189 |
Consolidated income before taxes on income |  |  | 55,546 |  |  |  | 50,054 |  |  |  | 41,833 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Total assets for reportable segments (*) |  |  | 116,353 |  |  |  | 103,976 |  |  |  | 76,055 |
Other unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  | 59,412 |  |  |  | 43,874 |  |  |  | 46,119 |
Investments in affiliated and other companies |  |  | 16,221 |  |  |  | 12,060 |  |  |  | 4,783 |
Property and equipment, net |  |  | 15,092 |  |  |  | 10,912 |  |  |  | 8,730 |
Other unallocated amounts |  |  | 8,081 |  |  |  | 7,197 |  |  |  | 6,316 |
Consolidated total assets (at year end) |  |  | 215,159 |  |  |  | 178,019 |  |  |  | 142,003 |
Other significant items |  |  |  |  |  |  |  |  |  |  |  |
Total expenditures for assets of reportable segments |  |  | 10,027 |  |  |  | 9,331 |  |  |  | 14,871 |
Unallocated amounts |  |  | 6,281 |  |  |  | 4,498 |  |  |  | 3,676 |
Consolidated total expenditures for assets |  |  | 16,308 |  |  |  | 13,829 |  |  |  | 18,547 |
Total depreciation, amortization and impairment for reportable segments |  |  | 10,358 |  |  |  | 9,160 |  |  |  | 9,717 |
Unallocated amounts |  |  | 3,161 |  |  |  | 2,475 |  |  |  | 2,245 |
Consolidated total depreciation, amortization and impairment |  |  | 13,519 |  |  |  | 11,635 |  |  |  | 11,962 |
| (*) | Including goodwill.
| E. | Geographic information
|  | Revenues |
|  | Year ended December 31, |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Israel |  |  | 116,391 |  |  |  | 101,273 |  |  |  | 88,556 |
United States |  |  | 8,537 |  |  |  | 8,697 |  |  |  | 7,811 |
Brazil |  |  | 89,455 |  |  |  | 70,982 |  |  |  | 58,403 |
Argentina |  |  | 15,211 |  |  |  | 14,772 |  |  |  | 17,324 |
Others |  |  | 5,042 |  |  |  | 3,850 |  |  |  | 3,534 |
Total |  |  | 234,636 |  |  |  | 199,574 |  |  |  | 175,628 |
|  | Property and equipment, net |
|  | December 31, |
(in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Israel |  |  | 16,757 |  |  |  | 11,973 |  |  |  | 9,934 |
United States |  |  | 118 |  |  |  | 106 |  |  |  | 73 |
Brazil |  |  | 17,969 |  |  |  | 19,188 |  |  |  | 17,228 |
Argentina |  |  | 4,203 |  |  |  | 4,377 |  |  |  | 4,279 |
Total |  |  | 39,047 |  |  |  | 35,644 |  |  |  | 31,514 |
| - | Revenues were attributed to countries based on customer location.
| - | Property and equipment were classified based on major geographic areas in which the Company operates.
| F. | Major customers
During 2017, 2016 and 2015, there were no sales exceeding 10% of total revenues to none of our customers.

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

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration