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Bonds Payable

12 Months Ended

Dec. 31, 2022

We have issued three series of nonconvertible bonds ("Bonds") through SPC, which are traded on the TASE. The Bonds are denominated in New Israeli Shekels ("NIS") and provide for semiannual principal and interest payments through maturity.

In connection with the Bonds, we incurred a gain (loss) on foreign currency transactions of $20,067, $(6,175), and $(13,378), for the years ended December 31, 2022, 2021 and 2020, respectively.

The outstanding balance of our Bonds at December 31, 2022 and 2021 is as follows:


	December 31,		Interest Rate
Bond Issuance	2022	2021			Maturity
Series A Bonds(1)	28,971	65,563	7.30	%	7/31/23
Series B Bonds(1)	35,806	54,019	6.80	%	7/31/25
Series C Bonds(2)	66,546	75,298	4.65	%	1/31/23
	131,323	194,880
Less unamortized deferred issuance costs	(2,105)	(5,428)
	129,218	189,452

(1) The bonds are collateralized by the assets of SPC.

(2) The bonds were collateralized by a trust deed in Browning Place, a 625,297 square foot office building in Dallas, Texas. On January 31, 2023, the series of bonds were paid off.

The aggregate maturities of our Bonds are as follows:


Year	Amount
2023 (1)	$	107,453
2024	11,935
2025	11,935



	$	131,323

(1) Includes the $66,546 Series C Bonds that were repaid on January 31, 2023.

The Bonds include a number of covenants, including restrictions on the amount of cash that can be distributed from SPC. As of December 31, 2022, we were in compliance with all of our bond covenants.