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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income for the year $ 37,012 $ 17,341 $ 7,767
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 18,096 18,831 22,843
Interest and exchange rate on long term credit (47) (266) 26
Loss (gains) in respect of trading marketable securities and other investments 2,387 (4,101) 241
Increase in liability for employee rights upon retirement 2,069 1,445 1,094
Share in losses of affiliated companies, net 102 842 3,203
Deferred income taxes (443) (2,158) (2,246)
Capital loss (gain) on sale of property and equipment, net (166) 199 112
Decrease (increase) in accounts receivable (3,994) 4,496 10,704
Decrease in other current and non-current assets 1,047 3,064 2,021
Increase (decrease) in inventories (3,841) 3,120 3,815
Increase (decrease) in accounts payable 1,776 (658) (1,125)
Increase (decrease) in deferred revenues 318 (5,367) (7,392)
Increase (decrease) in Obligation to purchase non-controlling interests 967 (848) (3,215)
Impairment of goodwill 10,508 12,292
Impairment of other intangible assets [1] 3,661 [1] 13,862
Increase (decrease) in other current and non-current liabilities 507 9,959 (4,323)
Net cash provided by operating activities 55,790 60,068 59,679
Cash flows from investment activities      
Increase in funds in respect of employee rights upon retirement, net of withdrawals (2,097) (1,148) (1,191)
Capital expenditures (16,626) (10,234) (18,310)
Investment in affiliated company (136) (90) (55)
Investment in marketable securities (1,102)
Investments in long - term deposit (48) (32) (16)
Investments in other companies, net (539) (467) (229)
Proceeds from sale of property and equipment 922 223 216
Sale of marketable securities 269 2,400
Net cash used in investment activities (18,524) (11,479) (18,287)
Cash flows from financing activities      
Repayment of long-term loan (23,576) (18,157) (8,938)
Settlement of obligation to purchase non-controlling interests (11,281)
Short term credit from banking institutions (197) 1,186 (2,167)
Acquisition of company shares (7,281) (6,001)
Purchase of shares from non-controlling interests (750)
Dividend paid (15,809) (9,967) (19,848)
Dividend paid to non-controlling interests (522) (1,761) (1,973)
Net cash used in financing activities (58,666) (29,449) (38,927)
Effect of exchange rate changes on cash and cash equivalents (477) (921) 101
Net change in cash and cash equivalents (21,877) 18,219 2,566
Balance of cash and cash equivalents at beginning of year 72,183 53,964 51,398
Balance of cash and cash equivalents at end of year 50,306 72,183 53,964
Supplementary information on investing and financing activities not involving cash flows:      
Dividends declared 2,872   5,050
Long term investments and other assets   (3,600)  
Supplementary disclosure of cash flow information      
Interest paid 979 1,956 1,788
Income taxes paid, net of refunds $ 13,497 $ 14,402 $ 10,376
[1] 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: