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LEASES | 12 Months Ended
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Dec. 31, 2021
Lessee Disclosure [Abstract] |
LEASES | NOTE 7 - LEASES The Company have entered into several non-cancelable operating lease agreements for real estate (mainly offices, warehouse and base stations), vehicles and certain network equipment. In addition to rent, the leases may require payment of maintenance, insurance and other operating expenses. The Company's leases have original lease periods expiring between 2022 and 2030. Payments due under such lease contracts include primarily fixed payments. The Company does not assume renewals in the determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement (or become as such in future date). The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. F - 29 ITURAN LOCATION AND CONTROL LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (cont.) NOTE 7 - LEASES (cont.) The components of lease costs, lease term and discount rate are as follows:
|  | US dollars |
(in thousands) |  | Year Ended December 31, 2021 |
Operating lease cost: |  |  |
Office and warehouse space |  |  | 1,781 |
Base stations |  |  | 646 |
Vehicle |  |  | 285 |
Others |  |  | 22 |
|  |  | 2,734 |
Weighted Average Remaining Lease Term (years): |  |  |  |
Office space |  |  | 0.50 |
Base stations |  |  | 4.11 |
Vehicle |  |  | 1.89 |
Others |  |  | 1.25 |
Weighted Average Discount Rate (%): |  |  |  |
Office space |  |  | 2.71 |
Base stations |  |  | 3.71 |
vehicle |  |  | 9.36 |
Others |  |  | 7.49 |
Supplemental cash flow information related to operating leases was as follows:
|  | US dollars |
(in Million) |  | Year Ended December 31, 2021 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases |  |  | 2.7 |
The following is a schedule, by years, of maturities of operating lease liabilities as of December 31, 2021:
|  | US dollars |
|  | December 31, 2021 |
Period: |  |  |
2022 |  |  | 3,106 |
2023 |  |  | 773 |
2024 |  |  | 422 |
2025 |  |  | 346 |
2026 |  |  | 268 |
Thereafter |  |  | 224 |
Total operating lease payments |  |  | 5,139 |
Less: imputed interest |  |  | (449 | )
Present value of lease liabilities |  |  | 4,690 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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