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SEGMENT REPORTING

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 19 - SEGMENT REPORTING

A. General information:

The operations of the Group (including the companies we acquired control over on September 2018 as describe in notes 1A, 3) 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.

Telematics services:

The telematics 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, Colombia, Mexico, Ecuador and the United States.

Telematics products:

The telematics 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)		Telematics services				Telematics products				Total
Year ended December 31, 2018
Revenues			181,357				71,978				253,335
Operating income			56,913				5,465				62,378
Assets			101,305				36,355				137,660
Goodwill			55,069				7,827				62,896
Expenditures for assets			15,677				537				16,214
Depreciation and amortization			8,630				486				9,116
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

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)		2018				2017				2016
Total revenues of reportable segment and consolidated revenues			253,335				234,636				199,574
Operating income
Total operating income for reportable segments			62,378				56,535				47,998
Unallocated amounts:
Financing income, net			717				(989	)			2,056
Other income, net			13,138				-				-
Consolidated income before taxes on income			76,233				55,546				50,054
Assets
Total assets for reportable segments (*)			200,556				116,353				103,976
Other unallocated amounts:
Current assets			103,994				59,412				43,874
Investments in affiliated and other companies			7,644				16,221				12,060
Property and equipment, net			20,074				15,092				10,912
Other unallocated amounts			41,524				8,081				7,197
Consolidated total assets (at year end)			373,792				215,159				178,019
Other significant items
Total expenditures for assets of reportable segments			16,214				10,027				9,331
Unallocated amounts			5,168				6,281				4,498
Consolidated total expenditures for assets			21,382				16,308				13,829
Total depreciation, amortization and impairment for reportable segments			9,116				10,358				9,160
Unallocated amounts			5,492				3,161				2,475
Consolidated total depreciation, amortization and impairment			14,608				13,519				11,635

(*) Including goodwill.

E. Geographic information

		Revenues
		Year ended December 31,
(in thousands)		2018				2017				2016
Israel			116,186				116,391				101,273
United States			8,873				8,537				8,697
Brazil			90,842				89,455				70,982
Argentina			13,643				15,211				14,772
Mexico			7,889				-				-
Ecuador			8,362				-				-
Colombia			2,450				-				-
Others			5,090				5,042				3,850
Total			253,335				234,636				199,574

		Property and equipment, net
		December 31,
(in thousands)		2018				2017				2016
Israel			16,478				16,757				11,973
United States			142				118				106
Brazil			24,562				17,969				19,188
Argentina			3,820				4,203				4,377
Mexico			3,285				-				-
Ecuador			1,530				-				-
Colombia			303				-				-
Other			340				-				-
Total			50,460				39,047				35,644

- 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 2018, 2017 and 2016, there were no sales exceeding 10% of total revenues to none of our customers.

X

- References

No definition available.

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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