XML 31 R16.htm IDEA: XBRL DOCUMENT
v3.23.1

RESTRUCTURING COST | 12 Months Ended
--- | ---
Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
RESTRUCTURING COST |
NOTE 9 - | RESTRUCTURING COST
In 2022, the Company completed the restructuring plan announced in 2021, pursuant to which, the Company transferred its operations from its leased facility in Gedera to its facilities in Tulsa, Oklahoma and Kiryat Gat. This transfer enables TAT to concentrate on heat exchanges activity in the United States allowing for better operational flow, getting closer to TAT’s customer base, and cutting fixed costs. The restructuring plan has a material impact on the Company's financial statements for the year 2022 and 2021 as follows:
Restructuring Items |  | December 31, 2022 |  |  | December 31, 2021 |
Balance sheet |  |  |  |  |  |
Other Provisions |  | $ | 190 |  |  | $ | 657 |
Investment in building and infrastructures |  |  | 4,571 |  |  |  | 2,382 |
Investment in machinery (**) |  |  | 7,799 |  |  |  | 3,478 |
Total |  | $ | 12,560 |  |  | $ | 6,517 |
Profit and loss |  |  |  |  |  |  |  |
Restructuring expenses, net |  |  |  |  |  |  |  |
Forfeited guarantee |  | $ | 975 |  |  | $ | - |
Employee’s termination cost |  |  | - |  |  |  | 686 |
Restructuring income from lease modification |  |  | - |  |  |  | (1,315 | )
Restructuring expenses from asset’s impairment |  |  | - |  |  |  | 1,800 |
Other restructuring expenses |  |  | 740 |  |  |  | 584 |
|  | $ | 1,715 |  |  | $ | 1,755 |
Cost of sales |  |  |  |  |  |  |  |
Acceleration of assets depreciation expenses |  |  | - |  |  | $ | 1,200 |
Total |  | $ | 1,715 |  |  | $ | 2,955 |
* Net cash used in operating activity for restructuring expenses in 2022 was $1.7 million. ** Investment in machinery was offset by a grant of $2.7 million ($1.2 and $1.5 million in 2021 and 2022 respectively) received from the State of Oklahoma as part of a larger incentive plan granted to TAT. As part of this plan TAT Limco will be entitled to several incentives including additional grants, tax exempt and incentives and support in employee's salaries over the next 10 years.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration