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FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT (Tables) | 12 Months Ended
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Dec. 31, 2018
Risks and Uncertainties [Abstract] |
Schedule of Fair Values of Derivative Instruments | The following table summarizes a tabular disclosure of (a) fair values of derivative instruments in the balance sheets and (b) the effect of derivative instruments in the statements of income: Fair values of derivative instruments:
|  | Assets derivatives |
As of December 31, 2018 |  | Thousands of US dollars |
|  | Balance sheet location |  | Fair value |
Derivatives designated as hedging instruments: |  |  |  |  |
Foreign exchange contracts |  | Other current Assets |  |  | 1,019 |
|  | Liability derivatives |
As of December 31, 2017 |  | Thousands of US dollars |
|  | Balance sheet location |  | Fair value |
Derivatives designated as hedging instruments: |  |  |  |  |
Foreign exchange contracts |  | Other current Liabilities |  |  | 580 |
Amounts reclassified to statement of income:
Derivatives designated as hedging instruments |  | Location of loss recognized in income |  | Amount of gain recognized in income |
Year ended December 31, 2018 |  |  |  | Thousands of US dollars |
Foreign exchange contracts |  | Cost of revenues |  |  | 385 |
Derivatives designated as hedging instruments |  | Location of loss recognized in income |  | Amount of gain recognized in income |
Year ended December 31, 2017 |  |  |  | Thousands of US dollars |
Foreign exchange contracts |  | Cost of revenues |  |  | 10 |
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis | The Company's financial assets (liabilities) measured at fair value on a recurring basis, consisted of the following types of instruments as of December 31, 2018 and 2017:
|  | December 31, 2018 |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Trading securities |  |  | 1,897 |  |  |  | - |  |  |  | - |
Derivatives designated as hedging instruments |  |  | - |  |  |  | 1,019 |  |  |  | - |
Total |  |  | 1,897 |  |  |  | 1,019 |  |  |  | - |
|  | December 31, 2017 |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Trading securities |  |  | 3,559 |  |  |  | - |  |  |  | - |
Derivatives designated as hedging instruments |  |  | - |  |  |  | (580 | ) |  |  | - |
Total |  |  | 3,559 |  |  |  | (580 | ) |  |  | - |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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