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PENSION LIABILITIES, NET (Tables)
12 Months Ended
Dec. 31, 2021
Liability, Defined Benefit Plan [Abstract]  
Schedule of Changes In Projected Benefit Obligations

The following tables provide a reconciliation of the changes in the plans’ benefits obligation for the year ended December 31, 2020 and 2021, and the statement of funds status as of December 31, 2020 and 2021:

December 31,

2020

2021

 

Change in projected benefit obligation

Projected benefit obligation at beginning of year

2,368

2,510

Interest cost

52

38

Expenses paid

(201

)

(170

)

Exchange rates differences

50

(85

)

Actuarial loss

241

219

 

Projected benefit obligation at end of year

$

2,510

$

2,512

Schedule of Assumptions Used

The assumptions used in the measurement of the Company’ benefits obligations as of December 31, 2020 and 2021 are as follows:

December 31,

2020

2021

Weighted-average assumptions

Discount rate

1.70

%

1.90

%

Rate of compensation increase

2.25

%

2.75

%

Schedule of Net Benefit Costs

The following table provides the components of net periodic benefits cost for the years ended December 31, 2019, 2020 and 2021:

December 31,

2019

2020

2021

Components of net periodic benefit cost

Service cost

$

12

$

-

$

-

Interest cost

47

52

38

 

Net periodic benefit cost

$

59

$

52

$

38

Schedule of Expected Benefit Payments

Benefit payments are expected to be paid as follows:

December 31,

 

2021

 

 

 

 

 

2022

165

 

2023

160

 

2024

163

 

2025

166

 

2026 and thereafter

1,858

 

 

 

$

2,512