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LEASES | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES |
NOTE 12:- | LEASES
On January 1, 2019, the Company adopted Topic 842 and elected the available practical expedient to recognize the cumulative effect of initially adopting Topic 842 as an adjustment to the opening balance sheet of the period of adoption (i.e., January 1, 2019). The Company also elected the other available practical expedients and will not separate lease components from non-lease components, will not reassess whether contracts are or contain leases, lease classification, or initial direct costs for existing leases as of January 1, 2019. In addition, the Company elected not to apply the transition requirements for leases for which the lease term is less than 12 months. The consolidated balance sheets and results from operations for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with the historic accounting under Topic 840. The Company`s leases include offices and warehouses for its facilities worldwide, as well as car leases, which are all classified as operating leases. Certain leases include renewal options that are under the Company`s sole discretion. The renewal options were included in the ROU and liability calculation if it was reasonably certain that the Company will exercise the option. The cumulative effect of the changes made to the balance sheet as of January 1, 2019 for the adoption of Topic 842 were as follows:
|  | December 31, 2018 |  |  | Adjustments |  |  | January 1, 2019 |
Other non-current assets |  | $ | 4,544 |  |  | $ | 7,129 |  |  | $ | 11,673 |
Other accounts payable and accrued expenses |  | $ | (27,256 | ) |  | $ | (4,952 | ) |  | $ | (32,208 | )
Other long-term payables |  | $ | (3,672 | ) |  | $ | (2,177 | ) |  | $ | (5,849 | )
The lease related accounts as of December 31, 2019 were as follows:
|  | December 31, 2019 |
Other non-current assets |  | $ | 10,128 |
Other accounts payable and accrued expenses |  | $ | (5,644 | )
Other long-term payables |  | $ | (4,718 | )
The components of lease expense and supplemental cash flow information related to leases for the year ended December 31, 2019 were as follows:
|  | Year ended December 31, 2019 |
Components of lease expense |  |  |
Operating lease cost |  | $ | 5,624 |
Short-term lease |  | $ | 75 |
Total lease expenses |  | $ | 5,699 |
|  | Year ended December 31, 2019 |
Supplemental cash flow information |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 5,718 |
Supplemental non-cash information related to lease liabilities arising from |  |  |  |
obtaining ROU assets |  | $ | 8,346 |
For the year ended December 31, 2019, the weighted average remaining lease term is three years, and the weighted average discount rate is 4.78 percent. The discount rate was determined based on the estimated collateralized borrowing rate of the Company, adjusted to the specific lease term and location of each lease. Maturities of lease liabilities as of December 31, 2019 were as follows:
2020 |  | $ | 5,723 |
2021 |  |  | 2,062 |
2022 |  |  | 1,551 |
2023 |  |  | 1,004 |
2024 and thereafter |  |  | 1,154 |
Total operating lease payments |  |  | 11,494 |
Less: imputed interest |  |  | 1,132 |
Present value of lease liability |  | $ | 10,362 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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