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Fair Value Measurements
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value Measurements

NOTE 21—FAIR VALUE MEASUREMENTS

 

Financial items measured at fair value are classified in the table below in accordance with the hierarchy established in applicable accounting principles.

 

    As at December 31, 2015  
    Level 1     Level 2     Level 3     Total  
Restricted deposits – current   $ 2,172       —       —     $ 2,172  
Restricted deposits –non-current     2,951       —       —       2,951  
Derivative liabilities     (4 )     —       —       (4 )
Total   $ 5,119     $ —     $ —     $ 5,119  

 

    As at December 31, 2014  
    Level 1     Level 2     Level 3     Total  
Restricted deposits – current   $ 467     $ —     $ —     $ 467  
Restricted deposits –non-current     650       —       —       650  
Derivative assets (liabilities)     5       —       (50 )     (45 )
Total   $ 1,122     $ —     $ (50 )   $ 1,072  

 

  Current restricted deposits are comprised of security deposits with respect to various performance and bank guarantees provided in the normal course of business for DSIT’s operations that are expected to be released by December 31, 2016. DSIT has also provided $2,951 of security deposits for guarantees that are expected to be released through the middle of 2018.

 

Level 1 derivative assets and liabilities are related to forward contracts for the purchase of New Israeli Shekels for which market prices are readily available. Unrealized gains or losses from forward contracts are recorded in Finance income (expense), net.

 

Level 3 derivative liabilities are with respect to the fair value of the liability of stock options and warrants outstanding in excess of the Company’s authorized shares (see Note 15(a)).