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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of Reportable Operating Segments | B. Information about reported segment profit or loss and assets:
|  | US dollars |
(in thousands) |  | Telematics services |  |  | Telematics products |  |  | Total |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |
Revenues |  |  | 189,649 |  |  |  | 81,235 |  |  |  | 270,884 |
Operating income |  |  | 48,072 |  |  |  | 6,543 |  |  |  | 54,615 |
Assets |  |  | 79,535 |  |  |  | 38,312 |  |  |  | 117,847 |
Goodwill |  |  | 34,216 |  |  |  | 5,783 |  |  |  | 39,999 |
Expenditures for assets |  |  | 9,057 |  |  |  | 1,053 |  |  |  | 10,110 |
Depreciation and amortization |  |  | 11,411 |  |  |  | 2,142 |  |  |  | 13,553 |
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |
Revenues |  |  | 182,944 |  |  |  | 62,683 |  |  |  | 245,627 |
Operating income (loss) |  |  | 28,666 |  |  |  | (835 | ) |  |  | 27,831 |
Assets |  |  | 89,939 |  |  |  | 22,425 |  |  |  | 112,364 |
Goodwill |  |  | 34,152 |  |  |  | 5,710 |  |  |  | 39,862 |
Expenditures for assets |  |  | 6,116 |  |  |  | 1,142 |  |  |  | 7,258 |
Depreciation and amortization |  |  | 12,471 |  |  |  | 2,008 |  |  |  | 14,479 |
Impairment of goodwill |  |  | 9,479 |  |  |  | 1,029 |  |  |  | 10,508 |
Impairment of intangible assets |  |  | 1,869 |  |  |  | 1,792 |  |  |  | 3,661 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | 204,728 |  |  |  | 74,604 |  |  |  | 279,332 |
Operating income (loss) |  |  | 26,092 |  |  |  | (3,438 | ) |  |  | 22,654 |
Assets |  |  | 118,361 |  |  |  | 28,114 |  |  |  | 146,475 |
Goodwill |  |  | 43,383 |  |  |  | 6,703 |  |  |  | 50,086 |
Expenditures for assets |  |  | 11,050 |  |  |  | 1,890 |  |  |  | 12,940 |
Depreciation and amortization |  |  | 14,671 |  |  |  | 2,483 |  |  |  | 17,154 |
Impairment of goodwill |  |  | 11,088 |  |  |  | 1,204 |  |  |  | 12,292 |
Impairment of intangible assets |  |  | 10,914 |  |  |  | 2,948 |  |  |  | 13,862 |
Reconciliation of Reporting Information from Segments to Consolidated Totals | D. Reconciliations of reportable segment revenues, profit or loss, and assets, to the enterprise’s consolidated totals:
|  | US dollars
|  | Year ended December 31,
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Total revenues of reportable segment and consolidated revenues |  |  | 270,884 |  |  |  | 245,627 |  |  |  | 279,332 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |
Total operating income for reportable segments |  |  | 54,615 |  |  |  | 27,831 |  |  |  | 22,654 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Financing income, net |  |  | (5,538 | ) |  |  | 1,480 |  |  |  | 576 |
Other expense, net |  |  | (109 | ) |  |  | (272 | ) |  |  | (26 | )
Consolidated income before taxes on income |  |  | 48,968 |  |  |  | 29,039 |  |  |  | 23,204 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Total assets for reportable segments (*) |  |  | 157,846 |  |  |  | 152,226 |  |  |  | 196,561 |
Other unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  | 93,244 |  |  |  | 117,295 |  |  |  | 88,777 |
Investments in affiliated and other companies |  |  | 2,751 |  |  |  | 2,171 |  |  |  | 4,926 |
Property and equipment, net |  |  | 15,783 |  |  |  | 17,180 |  |  |  | 20,877 |
Other unallocated amounts |  |  | 23,397 |  |  |  | 23,600 |  |  |  | 28,094 |
Consolidated total assets (at year end) |  |  | 293,021 |  |  |  | 312,472 |  |  |  | 339,235 |
Other significant items |  |  |  |  |  |  |  |  |  |  |  |
Total expenditures for assets of reportable segments |  |  | 10,110 |  |  |  | 7,258 |  |  |  | 12,940 |
Unallocated amounts |  |  | 6,516 |  |  |  | 2,976 |  |  |  | 5,359 |
Consolidated total expenditures for assets |  |  | 16,626 |  |  |  | 10,234 |  |  |  | 18,299 |
Total depreciation, amortization and impairment for reportable segments |  |  | 13,553 |  |  |  | 28,648 |  |  |  | 43,308 |
Unallocated amounts |  |  | 4,543 |  |  |  | 4,352 |  |  |  | 5,689 |
Consolidated total depreciation, amortization and impairment |  |  | 18,096 |  |  |  | 33,000 |  |  |  | 48,997 |
(*) Including goodwill.
Schedule of Revenues and Long-Lived Assets by Geographical Areas | E. Geographic information
|  | Revenues |
|  | Year ended December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Israel |  |  | 140,569 |  |  |  | 120,515 |  |  |  | 110,102 |
Brazil |  |  | 57,764 |  |  |  | 61,470 |  |  |  | 98,020 |
Others |  |  | 72,551 |  |  |  | 63,642 |  |  |  | 71,210 |
Total |  |  | 270,884 |  |  |  | 245,627 |  |  |  | 279,332 |
|  | Property and equipment, net |
|  | December 31, |
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Israel |  |  | 14,524 |  |  |  | 13,784 |  |  |  | 14,967 |
Brazil |  |  | 13,617 |  |  |  | 14,462 |  |  |  | 21,218 |
Others |  |  | 7,511 |  |  |  | 9,407 |  |  |  | 9,715 |
Total |  |  | 35,652 |  |  |  | 37,653 |  |  |  | 45,900 |
Schedule of Major Product Lines and Timing of Revenue Recognition | In the following table, revenue is disaggregated by primary major product lines, and timing of revenue recognition for the years ended December 31, 2020 and 2021:
|  | US dollars
|  | Reportable segments result of operations
(in thousands) |  | Year ended December 31, 2020 |  |  | Year ended December 31, 2021 |
|  | Telematics services |  |  | Telematics products |  |  | Total |  |  | Telematics services |  |  | Telematics products |  |  | Total |
At a point of time |  |  | - |  |  |  | 60,953 |  |  |  | 60,953 |  |  |  | - |  |  |  | 78,947 |  |  |  | 78,947 |
Over a period of time |  |  | 182,944 |  |  |  | 1,730 |  |  |  | 184,674 |  |  |  | 189,649 |  |  |  | 2,288 |  |  |  | 191,937 |
|  |  | 182,944 |  |  |  | 62,683 |  |  |  | 245,627 |  |  |  | 189,649 |  |  |  | 81,235 |  |  |  | 270,884 |
F - 46 ITURAN LOCATION AND CONTROL LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (cont.) NOTE 18 - SEGMENT REPORTING (cont.) G.Major product lines and timing of revenue recognition (cont.) In the following table, revenue is disaggregated by primary major product lines, and timing of revenue recognition for the year ended December 31, 2019:
|  | US dollars |
|  | Reportable segments result of operations |
(in thousands) |  | Year ended December 31, 2019 |
|  | Telematics services |  |  | Telematics products |  |  | Total |
At a point of time |  | - |  |  | 72,626 |  |  | 72,626 |
Over a period of time |  | 204,728 |  |  | 1,978 |  |  | 206,706 |
|  | 204,728 |  |  | 74,604 |  |  | 279,332 |

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