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INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract] |
INTANGIBLE ASSETS, NET | NOTE 8 - INTANGIBLE ASSETS, NET
|  | US dollars
|  | December 31, 2019 |  | Year ended December 31, 2020 |  |  | December 31, 2020
(in thousands) |  | Opening balance |  |  | Impairment (*) |  |  | Amortization (**) |  |  | Additions |  |  | Translation differences |  |  | Closing balance |
Costumer relationship |  |  | 9,107 |  |  |  | (3,661 | ) |  |  | (2,115 | ) |  |  | - |  |  |  | - |  |  |  | 3,331 |
Technology |  |  | 13,776 |  |  |  | - |  |  |  | (2,871 | ) |  |  | 2,992 |  |  |  | 243 |  |  |  | 14,140 |
Others |  |  | 3,988 |  |  |  | - |  |  |  | (896 | ) |  |  | - |  |  |  | (631 | ) |  |  | 2,461 |
|  |  | 26,871 |  |  |  | (3,661 | ) |  |  | (5,882 | ) |  |  | 2,992 |  |  |  | (388 | ) |  |  | 19,932 |
|  | US dollars
|  | December 31, 2020 |  | Year ended December 31, 2021 |  |  | December 31, 2021
(in thousands) |  | Opening balance |  |  | Impairment |  |  | Amortization (**) |  |  | Additions |  |  | Translation differences |  |  | Closing balance |
Costumer relationship |  |  | 3,331 |  |  |  | - |  |  |  | (1,486 | ) |  |  | - |  |  |  | - |  |  |  | 1,845 |
Technology |  |  | 14,140 |  |  |  | - |  |  |  | (3,573 | ) |  |  | 2,891 |  |  |  | 148 |  |  |  | 13,606 |
Others |  |  | 2,461 |  |  |  | - |  |  |  | (769 | ) |  |  | 62 |  |  |  | (452 | ) |  |  | 1,302 |
|  |  | 19,932 |  |  |  | - |  |  |  | (5,828 | ) |  |  | 2,953 |  |  |  | (304 | ) |  |  | 16,753 |
(*) | Due to the decline in the results of Road Track in the first half of 2020 and the expectation of management for further potential decrease in Road Track anticipated performance, the Company performed on June 30, 2020, 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 "Relief from Royalties" valuation method. Accordingly, certain assumptions and judgments were made in order to determine the future income from which royalties will be derived from and in order to determine the appropriate rate of royalties and rate of discount.
| As a result of the above, the Company recorded, an impairment loss in an amount of US$ 3,661 thousand in 2020, with respect to Costumer relationship, that was recorded under "impairment of intangible assets and other expenses" in the consolidated statement of income. See also Note 1N.
(**) | As of December 31, 2021, the estimated aggregate amortization of intangible assets for the next five years is as follows: 2022- US$ 6,226 thousand, 2023- US$ 4,792 thousand, 2024- US$ 3,604 thousand, 2025- US$ 2,007 thousand and 2026 – US$ 124 thousand.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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