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INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]  
INTANGIBLE ASSETS, NET
NOTE 9
 -
 INTANGIBLE ASSETS, NET

   
US dollars
  
   
December 31,
    
Year ended December 31,
    
December 31,
  
   
2018
    
2019
    
2019
  
(in thousands)
  
Opening balance
    
Impairment (*)
    
Amortization (**)
    
Additions
    
Translation differences
    
Closing balance
  
Costumer relationship
    
24,133
      
(10,914
)
    
(4,112
)
    
-
      
-
      
9,107
  
Technology
    
10,692
      
(2,948
)
    
(2,422
)
    
4,751
      
14
      
10,087
  
Others
    
4,215
      
-
      
(1,229
)
    
1,333
      
(158
)
    
4,161
  
     
39,040
      
(13,862
)
    
(7,763
)
    
6,084
      
(144
)
    
23,355
  

(*)  Due to the decline in the results of Road Track (See Note 3) and the current expectation of management for further potential decrease in Road Track anticipated performance, the company performed on December 31, 2019, an impairment analysis of the intangible assets which relate directly to the operation of Road Track. Based on such analysis the company recorded an impairment charge further described below:

In order to determine the fair value of such intangible assets, the Company, based on a valuation performed by the management, with the assistance of a third party appraiser, utilized the Discounted Cash Flow (DCF) method under the Income Approach.  Accordingly, certain assumptions and judgments were made in order to determine the future cash flow that expected to be generated from each intangible asset.
 
As a result of the above, the Company recorded, an impairment loss in an amount of US$ 10,914 thousand, with respect to Costumer relationship and an amount of US$ 2,948 thousand, with respect to Technology. totaling an aggregate impairment charge of US$ 13,862, that was recorded under "impairment of intangible assets and other expenses" in the consolidated statement of income.
 
(**) As of December 31, 2019, the estimated aggregate amortization of intangible assets for the next five years is as follows: 2020- US$ 5,260 thousand, 2021- US$ 5,260 thousand, 2022- US$ 5,260 thousand, 2023- US$ 3,382 thousand and 2024 – US$ 2,513 thousand.
See also Note 1N.