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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Reportable Operating Segments |
|  | US dollars |
(in thousands) |  | Telematics services |  |  | Telematics products |  |  | Total |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |
Revenues |  |  | 234,541 |  |  |  | 85,437 |  |  |  | 319,978 |
Operating income |  |  | 65,039 |  |  |  | 916 |  |  |  | 65,955 |
Assets |  |  | 106,355 |  |  |  | 32,141 |  |  |  | 138,496 |
Goodwill |  |  | 33,940 |  |  |  | 5,460 |  |  |  | 39,400 |
Expenditures for assets |  |  | 8,837 |  |  |  | 488 |  |  |  | 9,325 |
Depreciation and amortization |  |  | 13,346 |  |  |  | 1,433 |  |  |  | 14,779 |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | 209,558 |  |  |  | 83,514 |  |  |  | 293,072 |
Operating income |  |  | 56,287 |  |  |  | 2,487 |  |  |  | 58,774 |
Assets |  |  | 99,127 |  |  |  | 33,553 |  |  |  | 132,680 |
Goodwill |  |  | 33,990 |  |  |  | 5,520 |  |  |  | 39,510 |
Expenditures for assets |  |  | 19,024 |  |  |  | 1,001 |  |  |  | 20,025 |
Depreciation and amortization |  |  | 13,030 |  |  |  | 1,608 |  |  |  | 14,638 |
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | 189,649 |  |  |  | 81,235 |  |  |  | 270,884 |
Operating income |  |  | 48,072 |  |  |  | 6,543 |  |  |  | 54,615 |
Assets |  |  | 81,450 |  |  |  | 36,397 |  |  |  | 117,847 |
Goodwill |  |  | 34,215 |  |  |  | 5,784 |  |  |  | 39,999 |
Expenditures for assets |  |  | 9,404 |  |  |  | 706 |  |  |  | 10,110 |
Depreciation and amortization |  |  | 11,650 |  |  |  | 1,903 |  |  |  | 13,553 |
Schedule of Reporting Information from Segments to Consolidated Totals |
|  | US dollars |
|  | Year ended December 31, |
(in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Total revenues of reportable segment and consolidated revenues |  |  | 319,978 |  |  |  | 293,072 |  |  |  | 270,884 |
Operating income |  |  |  |  |  |  |  |  |  |  |  |
Total operating income for reportable segments |  |  | 65,955 |  |  |  | 58,774 |  |  |  | 54,615 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Financing income, net |  |  | (1,552 | ) |  |  | (5,944 | ) |  |  | (5,538 | )
Other expense, net |  |  | 2 |  |  |  | - |  |  |  | (109 | )
Consolidated income before taxes on income |  |  | 64,405 |  |  |  | 52,830 |  |  |  | 48,968 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Total assets for reportable segments (*) |  |  | 177,896 |  |  |  | 172,190 |  |  |  | 157,846 |
Other unallocated amounts: |  |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  | 91,263 |  |  |  | 72,190 |  |  |  | 93,244 |
Investments in affiliated and other companies |  |  | 2,927 |  |  |  | 2,967 |  |  |  | 2,751 |
Property and equipment, net |  |  | 14,620 |  |  |  | 14,795 |  |  |  | 15,783 |
Other unallocated amounts |  |  | 31,982 |  |  |  | 28,785 |  |  |  | 23,397 |
Consolidated total assets (at year end) |  |  | 318,688 |  |  |  | 290,927 |  |  |  | 293,021 |
Other significant items |  |  |  |  |  |  |  |  |  |  |  |
Total expenditures for assets of reportable segments |  |  | 9,325 |  |  |  | 20,025 |  |  |  | 10,110 |
Unallocated amounts |  |  | 4,918 |  |  |  | 6,480 |  |  |  | 6,516 |
Consolidated total expenditures for assets |  |  | 14,243 |  |  |  | 26,505 |  |  |  | 16,626 |
Total depreciation, amortization and impairment for reportable segments |  |  | 14,779 |  |  |  | 14,638 |  |  |  | 13,553 |
Unallocated amounts |  |  | 6,289 |  |  |  | 5,496 |  |  |  | 4,543 |
Consolidated total depreciation, amortization and impairment |  |  | 21,068 |  |  |  | 20,134 |  |  |  | 18,096 |
| (*) | Including goodwill.
Schedule of Revenues and Long-Lived Assets by Geographical Areas |
|  | Revenues |
|  | Year ended December 31, |
(in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Israel |  |  | 154,175 |  |  |  | 150,423 |  |  |  | 140,569 |
Brazil |  |  | 85,622 |  |  |  | 69,091 |  |  |  | 57,764 |
Others |  |  | 80,181 |  |  |  | 73,558 |  |  |  | 72,551 |
Total |  |  | 319,978 |  |  |  | 293,072 |  |  |  | 270,884 |
|  | Property and equipment, net |
|  | December 31, |
(in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Israel |  |  | 12,687 |  |  |  | 13,138 |  |  |  | 14,524 |
Brazil |  |  | 20,644 |  |  |  | 23,488 |  |  |  | 13,617 |
Others |  |  | 8,624 |  |  |  | 8,972 |  |  |  | 7,511 |
Total |  |  | 41,955 |  |  |  | 45,598 |  |  |  | 35,652 |
Schedule of Major Product Lines and Timing of Revenue Recognition |
|  | US dollars |
|  | Reportable segments result of operations |
(in thousands) |  | Year ended December 31, 2022 |  |  | Year ended December 31, 2023 |
|  | Telematics services |  |  | Telematics products |  |  | Total |  |  | Telematics services |  |  | Telematics products |  |  | Total |
At a point of time |  |  | - |  |  |  | 81,342 |  |  |  | 81,342 |  |  |  | - |  |  |  | 83,626 |  |  |  | 83,626 |
Over a period of time |  |  | 209,558 |  |  |  | 2,172 |  |  |  | 211,730 |  |  |  | 234,541 |  |  |  | 1,811 |  |  |  | 236,352 |
|  |  | 209,558 |  |  |  | 83,514 |  |  |  | 293,072 |  |  |  | 234,541 |  |  |  | 85,437 |  |  |  | 319,978 |
|  | US dollars |
|  | Reportable segments result of operations |
(in thousands) |  | Year ended December 31, 2021 |
|  | Telematics services |  |  | Telematics products |  |  | Total |
At a point of time |  |  | - |  |  |  | 78,947 |  |  |  | 78,947 |
Over a period of time |  |  | 189,649 |  |  |  | 2,288 |  |  |  | 191,937
|  |  | 189,649 |  |  |  | 81,235 |  |  |  | 270,884

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