XML 63 R56.htm IDEA: XBRL DOCUMENT v3.20.1
ACQUISITION OF BUSINESS (Narrative) (Details) - USD ($)
$ in Thousands
1 Months Ended 12 Months Ended
Sep. 13, 2018
Apr. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Jul. 31, 2021
Business Acquisition [Line Items]                
Transaction costs         $ (1,539)  
Goodwill $ 59,402       50,086 [1] 62,896 [1] 3,777  
Gain from measurement of previously held interests at acquisition date fair value [2]         14,677  
Road Track [Member]                
Business Acquisition [Line Items]                
Bussiness acquisition percentage 81.30%              
Amount paid to shareholders $ 91,700              
Purchase price 113,000              
Payment in cash 75,700              
Additional amount paid 12,000              
Remaining amount paid as bonus 4,000              
Shares issued during period     373,489 373,489        
Shares return due to downward transaction price   300,472   300,472        
Equity return due to downward price adjustment   $ 10,800            
Transaction costs           $ 1,500    
Goodwill [3] $ 59,402              
Percentage of previous holding 50.00%              
Gain from measurement of previously held interests at acquisition date fair value $ 14,700              
Road Track [Member] | Subsequent Event [Member]                
Business Acquisition [Line Items]                
Bussiness acquisition percentage               18.70%
Road Track [Member] | Total shares to be issued [Member]                
Business Acquisition [Line Items]                
Shares issued during period     300,472          
[1] The accumulated amount of goodwill impairment loss as of December 31, 2019, and 2018 was US$ 19.4 million and US$ 7.1million, respectively.
[2] As a result of the acquisition described in Note 3 the company gained control over certain companies that previously were accounted under the equity method ("JV's") and began to include these JV's in the consolidated . The company recorded one time gain in the amount of approximately $14.7 million from measurement of the JV's at the acquisition date to fair value.
[3] As part of the purchase price allocation for the acquisition, the Company recorded goodwill in the amount of $59.4 million. Goodwill reflects the value or premium of the acquisition price in excess of the fair values assigned to specific tangible and intangible assets. Goodwill has an indefinite useful life and therefore is not amortized as an expense (the goodwill balance is not deductible for income tax purposes), but is reviewed annually (or more, in certain circumstances) for impairment of its fair value to the Company. The purchase price intrinsically recognizes the benefits of the broadened depth of new markets and management team and is primarily attributable to expected synergies.