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Bank Debt and Other Debt | 12 Months Ended
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Dec. 31, 2014
Debt Disclosure [Abstract] |
Bank Debt and Other Debt | NOTE 10—BANK DEBT AND OTHER DEBT (a) Lines of credit The Company's DSIT subsidiary has lines-of-credit of approximately $2,200 from two Israeli banks (approximately $550 at one bank and $1,650 at the second), $2,169 of which was being used at December 31, 2014. The lines-of-credit are subject to certain financial covenants. DSIT was in compliance with its financial covenants at December 31, 2014. The line-of-credit at one bank expires in December 2015 and the line at the second bank has no defined expiration date. The lines-of-credit are denominated in NIS and bear interest at a weighted average rate of 3.6% per annum. The interest rate of one of the lines is linked to the Israeli prime rate. The Israeli prime rate as of December 31, 2014 was 1.75% (December 31, 2013, 2.5%). With respect to DSIT’s lines-of-credit, liens in favor of the Israeli banks were placed on DSIT’s assets. In addition, Acorn has guaranteed DSIT’s line-of-credit. In addition, to the above lines-of-credit, in December 2014, DSIT entered in an agreement with another bank to allow DSIT to borrow against certain accounts receivable balances at an interest equal to the Israeli prime rate plus 1.8%. At December 31, 2014, DSIT had borrowed $262 against certain accounts receivable balances. The Company's GridSense subsidiary has a line-of-credit of $1,500 (subject to a calculated borrowing base) from a local bank of which $1,480 was being used at December 31, 2014 ($958 at December 31, 2013). The line-of-credit is subject to certain covenants and expires on June 24, 2015. The Company has guaranteed to the bank amounts outstanding under the GridSense line-of-credit, and is currently not in compliance with the financial covenants under the guaranty. The Company is currently negotiating with the bank regarding terms of repayment of GridSense’s outstanding debt under the line-of-credit. Advances from the line-of-credit bear interest at a variable annual interest rate equal to the greater of 3.25% above the Prime Rate in effect (3.25% at December 31, 2013 and 2014) or 6.50%. In addition, to the line-of-credit, the bank agreed to allow GridSense to borrow against 80% of certain accounts receivable balances up to an additional $750 for a period of one year (to July 16, 2015). At December 31, 2014, GridSense was utilizing approximately $379 of its accounts receivable line. GridSense has granted a lien to its bank on substantially all of its assets other than intellectual property. GridSense has further promised not to grant a lien on their intellectual property to any other party, nor commit to any such party to abstain from giving a lien. The Company's USSI subsidiary had a line-of-credit of $1,500 from a local bank of which $1,460 was being used at December 31, 2014. The line-of-credit expired on January 20, 2015 and the balance is currently due (See Note 21). Advances from the line-of-credit bear interest at a variable annual interest rate equal to the greater of 1.0% above the Prime Rate in effect (3.25% at December 31, 2013 and 2014) or 6.50%. USSI has granted a lien to its bank on substantially all of its assets including intellectual property. Amounts with respect to USSI are included in Current liabilities of discontinued operations (see Notes 3 and 21). (b) Bank Debt In December 2009, the Company’s DSIT subsidiary took a loan from an Israeli bank in the amount of $530. The loan was denominated in NIS and bore interest at the rate of the Israeli prime rate per annum plus 0.9%. The loan balance of $143 was repaid in full during 2013. In July 2014, DSIT took a loan from one of its banks. The loan was for NIS 1,000 (approximately $292 at the then exchange rate) and is to be repaid over a period of two years with monthly payments of approximately $11. The loan principal is linked to the Israeli CPI and bears interest at 1.0% per annum. Amounts with respect to DSIT are included in Short-term bank credit and current maturities of long-term bank debt ($129) and Other long-term liabilities ($76).

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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