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INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Taxes

		US dollars
		Year ended December 31,
(in thousands)		2023				2022				2021
Income taxes (tax benefit):
Current taxes:
In Israel			10,202				9,110				4,916
Outside Israel			5,997				4,711				6,954
			16,199				13,821				11,870
Deferred taxes:
In Israel			(995	)			(102	)			(300	)
Outside Israel			(2,130	)			(634	)			(143	)
			(3,125	)			(736	)			(443	)
Taxes in respect of prior years:
In Israel			10				(457	)			339
Outside Israel			271				117				88
			281				(340	)			427
			13,355				12,745				11,854

Schedule of Income Tax Reconciliation

		US dollars
		Year ended December 31,
(in thousands)		2023				2022				2021
Pretax income			64,405				52,830				48,968
Statutory tax rate			23	%			23	%			23	%
Tax computed at the ordinary tax rate			14,813				12,151				11,263
Nondeductible expenses (income)			(284	)			2,123				(282	)
Losses and timing differences in respect of which no deferred taxes assets were recognized			(557	)			1,742				446
Tax adjustment in respect of different tax rates			1,087				499				1,202
Adjustment in respect of tax rate deriving from “approved enterprises”			(3,133	)			(3,002	)			(1,874	)
Tax related to previous years			281				(340	)			427
Others			1,148				(428	)			672
			13,355				12,745				11,854

Summary of Deferred Taxes

Composition:
		US dollars
		December 31,
(in thousands)		2023				2022
Deferred taxes
Provision for vacation, recreation and bad debt			415				560
Provision for other employee related obligations			1,990				1,758
Provision for deferred revenues/expenses and other obligations			6,876				4,207
Other temporary differences, net			4,055				3,341
			13,336				9,866

		US dollars
		December 31,
(in thousands)		2023				2022
Deferred income taxes included in long-term investments and other assets			14,452				11,400
Deferred income taxes included in long-term liabilities			(1,116	)			(1,534	)
			13,336				9,866

Schedule of Income Before Income Taxes

		US dollars
		Year ended December 31,
(in thousands)		2023				2022				2021
The Company and its Israeli subsidiaries			55,316				51,562				39,594
Non-Israeli subsidiaries			9,089				1,268				9,374
			64,405				52,830				48,968

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- Definition

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.

+ References

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-Topic 740
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-Paragraph 9
-Section 50
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- Definition

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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-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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