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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of Relevant Exchange Rates of US Dollar and Israeli CPI
The following table presents data regarding the dollar exchange rate of relevant currencies and the Israeli CPI:
 
   
Exchange rate
of one US dollar
    
Israeli CPI(*)
  
   
NIS
    
Real
    
Argentinian Pezo (**)
        
At December 31,
                        
2018
    
3.748
      
3.8748
      
37.801
    
113.95 points
  
2017
    
3.467
      
3.3080
      
18.774
    
113.05 points
  
2016
    
3.845
      
3.2591
      
15.850
    
112.59 points
  
Increase (decrease) during the year:
                              
2018
    
8.10
%
    
17.13
%
    
101.35
%
    
0.8
%
2017
    
(9.83
)%
    
1.50
%
    
18.45
%
    
0.4
%
2016
    
(1.46
)%
    
(16.54
)%
    
21.87
%
    
(0.2
)%
 
(*)
Based on the Index for the month ending on each balance sheet date, on the basis of 2008 average 100.
 
(**)
commencing the third quarter of 2018 the Argentinian economy declared as a hyperinflationary economy (See above).
Schedule of Depreciation Rates
2.
Rates of depreciation:
 
 
%
Operating equipment (mainly 20%-33%)
6.5-33
Office furniture, equipment and computers
7-33
Buildings
2.5
Vehicles
15
Leasehold improvements
Duration of the lease which
is less or equal to useful life.
Schedule of Intangible Assets Useful Lives
As of December 31, 2018, the intangible assets are amortized as follows:
 
 
Years
Customer relationship
8
Technology services
8
Other
5
Schedule of Cumulative Effects of Applying New Accounting Pronouncements
Below is a description of the effect of the adoption of ASC 606 on the consolidated balance sheet
 
   
US dollars
  
   
December 31, 2017
  
(in thousands)
  
Balances as reported
    
New Revenue Standard Adjustment
    
Adjusted balances
  
Liabilities
                  
Deferred revenues (including current portion)
    
(14,037
)
    
(3,911
)
    
(17,948
)
Deferred income Tax
    
8,398
      
939
      
9,337
  
Shareholders’ Equity
                        
Accumulated Deficit
    
(92,065
)
    
2,972
      
(89,093
)
Schedule of Disaggregated Primary Major Product Line, Timing of Revenue Recognition
The following table summarize the impacts of adopting Topic 606 on the Company’s consolidated financial statements for the year ended December 31, 2018:
 
   
US dollars
  
   
Year ended December 31, 2018
  
(in thousands except earnings per share)
  
as reported
    
New Revenue Standard Adjustment
    
Balances as if Topic 606 was not adopted
  
Revenues:
                  
Telematics services
    
181,357
      
-
      
181,357
  
Telematics products
    
71,978
      
166
      
72,144
  
     
253,335
      
166
      
253,501
  
                         
Cost of revenues
    
(126,007
)
    
-
      
(126,007
)
Research and development expenses
    
(6,223
)
    
-
      
(6,223
)
Selling and marketing expenses
    
(11,340
)
    
-
      
(11,340
)
General and administrative expenses
    
(47,693
)
    
-
      
(47,693
)
Other income, net
    
306
      
-
      
306
  
Other income, net
    
13,138
      
-
      
13,138
  
Financing income, net
    
717
      
-
      
717
  
Income tax expenses
    
(17,273
)
    
(464
)
    
(17,737
)
Share in gains of affiliated companies, net
    
4,219
      
-
      
4,219
  
Net income for the year
    
63,179
      
(298
)
    
62,881
  

In the following table, revenue is disaggregated by primary major product line, and timing of revenue recognition:

   
US dollars
  
   
Reportable segments results of operations
  
(in thousands)
  
Year ended December 31, 2018
  
Liabilities
  
Telematics services
    
Telematics products
    
Total
  
At a point of time
    
-
      
70,133
      
70,133
  
Over a period of time
    
181,357
      
1,845
      
183,202
  
     
181,357
      
71,979
      
253,335