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TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2013

TAXES ON INCOME [Abstract]

Schedule of Reconciliation of Tax Provisions to the Domestic and Effective Tax Rate

A reconciliation of the theoretical tax expense assuming all income is taxed at the statutory rate to taxes on income (tax benefit) as reported in the statements of income:

		Year ended December 31,
		2013				2012				2011
Income (loss) before taxes on income (tax benefit) as reported in the statements of income		$	5,267			$	5,279			$	(1,148	)
Statutory tax rate in Israel			25	%			25	%			24	%
Theoretical taxes on income (tax benefit)		$	1,317			$	1,320			$	(276	)
Increase (decrease) in taxes on income resulting from:
Tax adjustment for foreign subsidiaries subject to a different tax rate			453				434				(73	)
Reduced tax rate on income derived from "Preferred Enterprises" plans			(255	)			(143	)			103
Change in enacted tax rates			34				-				-
Exempt income			-				(4	)			(10	)
Valuation allowance			294				499				-
Tax in respect of prior years			(342	)			(83	)			(24	)
Permanent differences			(460	)			67				(55	)
Taxes on income (tax benefit) as reported in the statements of income (loss)		$	1,041			$	2,090			$	(335	)

Schedule of Income (Loss) from Continuing Operations Before Income Tax Domestic and Foreign

Income (loss) before taxes on income (tax benefit) is comprised as follows:

		Year ended December 31,
		2013				2012				2011
Domestic (Israel)		$	1,942			$	2,046			$	1,547
Foreign (United States)			3,325				3,233				(2,695	)
		$	5,267			$	5,279			$	(1,148	)

Schedule of Components of Income Tax Provision

Taxes on income (tax benefit) included in the statements of income:

		Year ended December 31,
		2013				2012				2011
Current:
Domestic (Israel)		$	160			$	282			$	373
Foreign (United States)			334				295				213
			494				577				586
Deferred:
Domestic (Israel)			15				115				245
Foreign (United States)			874				1,481				(1,142	)
			889				1,596				(897	)
Previous years:
Domestic (Israel)			(209	)			(45	)			(71	)
Foreign (United States)			(133	)			(38	)			47
			(342	)			(83	)			(24	)
		$	1,041			$	2,090			$	(335	)

Schedule of Deferred Tax Assets and Liabilities

Significant components of TAT's deferred tax liabilities and assets are as follows:

		December 31,
		2013				2012
Deferred tax assets (liabilities):
Allowance for doubtful accounts		$	47			$	133
Unrealized gains			146				131
Provisions for employee benefits			277				270
Inventory			920				1,171
Other temporary differences			199				417
Deferred tax assets - short-term- other accounts receivables		$	1,589			$	2,122
Goodwill and intangible assets		$	671			$	884
Property, plant and equipment			18				707
Provisions for employee benefits and other temporary differences			38				64
Tax credits carryforward			447				274
Capital and state tax losses carryforward			3,306				1,823
Net operating losses carryforward			419				606
Other			23				-
Deferred tax assets, before valuation allowance - Long-term			4,922				4,358
Valuation allowance			(3,306	)			(1,823	)
Deferred tax assets, net - long-term		$	1,616			$	2,535
Other temporary differences deferred tax liabilities - short-term- other accounts receivable		$	(40	)		$	(126	)
Property, plant and equipment and intangible assets			(1,003	)			(1,457	)
Other			(55	)			(33	)
Deferred tax Liabilities - Long-term		$	(1,058	)		$	(1,490	)

Reconciliation of the Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized provision is as follows:

		Amount
Balance at January 1, 2011		$	84
Exchange rate differences			2
Balance at December 31, 2011			86
Exchange rate differences			(2	)
Balance at December 31, 2012			84
Exchange rate differences			6
Utilization upon assessment			(90	)
Balance at December 31, 2013		$	-

Schedule of Supplemental Consolidated Balance Sheets Information

		Warranty provision				Allowance for Doubtful Accounts
Balance, as of January 1, 2011			341				2,419
Additions			169				31
Utilization			(222	)			-
Write-offs, net of recoveries			-				(2,260	)
Balance, as of December 31, 2011			288				190
Additions			196				258
Utilization			(208	)			-
Write-offs, net of recoveries			-				(72	)
Balance, as of December 31, 2012		$	276			$	376

Additions			186				17
Utilization			(190	)			-
Write-offs, net of recoveries			-				(270	)
Less: Held for sale			(43	)			-
Balance, as of December 31, 2013		$	229			$	123

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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.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

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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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-Topic 235

-SubTopic 10

-Section S99

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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-Paragraph 2

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