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TAXES ON INCOME (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [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,
		2017				2016				2015
Income  before taxes on income as reported in the statements of income		$	4,939			$	3,982			$	5,256
Statutory tax rate in Israel			24	%			25	%			26.5	%
Theoretical taxes on income		$	1,185			$	996			$	1,393
Increase (decrease) in taxes on income resulting from:
Tax adjustment for foreign subsidiaries subject to a different tax rate			518				618				224
Reduced tax rate on income derived from "Preferred Enterprises" plans			(111	)			75				146
Exempt income (Bargain purchase)			-				-				(1,281	)
Earnings from foreign subsidiaries (1)			371				2,685				-
Valuation allowance			8				(40	)			(75	)
Change in tax rate			414				-				-
Tax in respect of prior years			7				(151	)			(12	)
Other adjustments			45				(200	)			130
Permanent differences			(104	)			(118	)			119
Taxes on income as reported in the statements of income		$	2,333			$	3,865			$	644

(1) During 2017 and 2016, the Company recorded an accrual that related to a tax liability due to actual distribution of earnings from foreign subsidiaries of the Company and due to the possibility of future distribution of earnings from such foreign subsidiaries.

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

Income before taxes on income is comprised as follows:

		Year ended December 31,
		2017				2016				2015
Domestic (Israel)		$	1,337			$	(650	)		$	3,840
Foreign (United States)			3,602				4,632				1,416
		$	4,939			$	3,982			$	5,256

Schedule of Components of Income Tax Provision

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

		Year ended December 31,
		2017				2016				2015
Current:
Domestic (Israel)		$	431			$	334			$	225
Foreign (United States)			1,937				1,792				452
			2,368				2,126				677
Deferred:
Domestic (Israel)			210				2,135				(170	)
Foreign (United States)			(252	)			(245	)			149
			(42	)			1,890				(21	)
Previous years:
Foreign (United States)			7				(151	)			(12	)
			7				(151	)			(12	)
		$	2,333			$	3,865			$	644

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of TAT's deferred tax liabilities and assets are as follows:

		December 31,
		2017				2016
Deferred tax assets:
Provision for doubtful accounts		$	160			$	102
Unrealized gains			124				138
Provisions for employee benefits			369				476
Inventory			1,397				1,608
Goodwill and intangible assets			156				360
Tax credits carryforward			75				347
Capital and state tax losses carryforward			3,417				3,409
Net operating losses carryforward			509				817
Other			246				237
Deferred tax assets, before valuation allowance		$	6,453			$	7,494
Valuation allowance			(3,417	)			(3,409	)
Deferred tax assets, net		$	3,036			$	4,085
Deferred tax liabilities:
Property, plant and equipment and intangible assets			(2,120	)			(2,643	)
Earnings from foreign subsidiaries (1)			(2,200	)			(2,259	)
Other temporary differences deferred tax liabilities			(140	)			(225	)
Deferred tax liabilities		$	(4,460	)		$	(5,127	)
Net		$	(1,424	)		$	(1,042	)

(1) The Company record an accrual that related to a deferred tax liability due to the possibility of future distribution of earnings from foreign subsidiaries of the company.

Schedule of changes in valuation allowance for deferred tax assets

The following table summarizes the changes in the valuation allowance for deferred tax assets:

Balance, December 31, 2014		$	3,574
Deductions during the year			(125	)
Balance, December 31,2015			3,449
Deductions during the year			(40	)
Balance, December 31,2016			3,409
Additions during the year			8
Balance, December 31,2017		$	3,417

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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