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INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Taxes

		US dollars
		Year ended December 31,
(in thousands)		2022				2021				2020
Income taxes (tax benefit):
Current taxes:
In Israel			9,110				4,916				5,841
Outside Israel			4,711				6,954				4,341
			13,821				11,870				10,182
Deferred taxes:
In Israel			(102	)			(300	)			(553	)
Outside Israel			(634	)			(143	)			(1,605	)
			(736	)			(443	)			(2,158	)
Taxes in respect of prior years:
In Israel			(457	)			341				(*)2,751
Outside Israel			117				86				81
			(340	)			427				2,832
			12,745				11,854				10,856

(*) During November 2020, the Company has received tax assessments from the Israeli tax authority ("ITA") for the years 2016-2018 amounting to approximately NIS 13 million (approximately US$4 million). An amount of approximately NIS 6 million (approximately US$2 million) due to timing differences (this amount was claimed by the Company in its tax filings for the years ended December 31, 2019, 2020 and 2021) related to the deduction of certain expenses for tax purposes. The Company had reached, in November 2020, an agreement with ITA that these amounts will be deducted only during the years 2019-2022. Accordingly, the Company recorded tax expenses in the amount of NIS 9 million (approximately US$3 million) in respect of prior periods, and simultaneously recorded a deferred tax benefit in a similar amount. In addition, the Company was required to pay ITA an amount of NIS 2 million (approximately US$0.6 million) as interest expense. Such amount was recognized as part of financing income, net.

Schedule of Income Tax Reconciliation

		US dollars
		Year ended December 31,
(in thousands)		2022				2021				2020
Pretax income			52,830				48,968				29,039
Statutory tax rate			23	%			23	%			23	%
Tax computed at the ordinary tax rate			12,151				11,263				6,679
Nondeductible expenses (income)			2,123				(282	)			2,220
Losses and timing differences in respect of which no deferred taxes assets were recognized			1,742				446				423
Tax adjustment in respect of different tax rates			499				1,202				753
Adjustment in respect of tax rate deriving from “approved enterprises”			(3,002	)			(1,874	)			(1,583	)
Tax related to previous years			(340	)			427				2,832
Others			(428	)			672				(468	)
			12,745				11,854				10,856

Summary of Deferred Taxes

		US dollars
		December 31,
(in thousands)		2022				2021
Deferred taxes
Provision for vacation, recreation and bad debt			560				1,697
Provision for other employee related obligations			1,758				1,362
Provision for deferred revenues/expenses and other obligations			4,207				3,963
Other temporary differences, net			3,341				2,117
			9,866				9,139

		US dollars
		December 31,
(in thousands)		2022				2021
Deferred income taxes included in long-term investments and other assets			11,400				11,091
Deferred income taxes included in long-term liabilities			(1,534	)			(1,952	)
			9,866				9,139

Schedule of Income Before Income Taxes

		US dollars
		Year ended December 31,
(in thousands)		2022				2021				2020
The Company and its Israeli subsidiaries			51,562				39,594				38,469
Non-Israeli subsidiaries			1,268				9,374				(9,430	)
			52,830				48,968				29,039

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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