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Liabilities for Employee Benefits, Net | 12 Months Ended
--- | ---
Dec. 31, 2023
Liabilities for Employee Benefits, Net [Abstract] |
LIABILITIES FOR EMPLOYEE BENEFITS, NET | NOTE 14 – LIABILITIES FOR EMPLOYEE BENEFITS, NET
A. | Composition:
|  | December 31 |
|  | 2023 |  |  | 2022 |
Present value of defined benefit liabilities |  |  | 234 |  |  |  | 226 |
Less - fair value of plans’ assets |  |  | 204 |  |  |  | 194 |
|  |  | 30 |  |  |  | 32 |
B. | Changes in the present value of defined benefit liabilities
|  | December 31 |
|  | 2023 |  |  | 2022 |
Balance at beginning of year |  |  | 226 |  |  |  | 288 |
Current service cost |  |  | 6 |  |  |  | 8 |
Interest cost |  |  | 12 |  |  |  | 8 |
Benefits paid |  |  | - |  |  |  | (9 | )
Expenses in respect of exchange rate differences |  |  | (8 | ) |  |  | (33 | )
Net actuarial loss |  |  | (2 | ) |  |  | (36 | )
Balance at end of year |  |  | 234 |  |  |  | 226 |
C. | Plans’ assets
The plans’ assets include severance pay funds, and the severance pay component in executive insurance policies and in pension funds.
|  | 2023 |  |  | 2022 |
Changes in the fair value of plan assets |  |  |  |  |  |
Balance at beginning of year |  |  | 194 |  |  |  | 239 |
Expected return on plan assets |  |  | 10 |  |  |  | 7 |
Employer contributions |  |  | - |  |  |  | 7 |
Benefits paid |  |  | - |  |  |  | (9 | )
Income from exchange rate differences |  |  | (8 | ) |  |  | (30 | )
Net actuarial gain (loss) |  |  | 8 |  |  |  | (20 | )
Balance at end of year |  |  | 204 |  |  |  | 194 |
Actual return on plan assets |  |  | (10 | ) |  |  | (14 | )
| D. | Expenses in respect of defined benefit plans
|  | For the year ended December 31, |
|  | 2023 |  |  | 2022 |
Current service cost |  |  | 6 |  |  |  | 8 |
Interest cost |  |  | 12 |  |  |  | 8 |
Expected return on plans’ assets |  |  | 10 |  |  |  | 7 |
Exchange rate differentials, net |  |  | (2 | ) |  |  | (3 | )
|  |  | 26 |  |  |  | 20 |
Presentation in profit and loss: |  |  |  |  |  |  |  |
Cost of revenue |  |  | 6 |  |  |  | 8 |
Finance expenses |  |  | 20 |  |  |  | 12 |
|  |  | 26 |  |  |  | 20 |
Presentation in other comprehensive income (loss) |  |  | 6 |  |  |  | 16 |
| E. | Key actuarial assumptions
|  | December 31, |
|  | 2023 |  |  | 2022 |
Discount rate |  |  | 5.5 | % |  |  | 5.5 | %
The expected weighted average cost of capital on plans’ assets |  |  | 5.56 | % |  |  | 3.1 | %
Expected pay rise rate |  |  | 2.41 | % |  |  | 2.8 | %
| F. | Expenses in respect of defined contribution plans
|  | For the year ended December 31, |
|  | 2023 |  |  | 2022 |
Expenses in respect of employee benefits |  |  | 7 |  |  |  | 81 |
Presentation in profit and loss: |  |  |  |  |  |  |  |
Cost of revenue |  |  | 2 |  |  |  | 31 |
Research and development expenses |  |  | 1 |  |  |  | 13 |
Selling and marketing expenses |  |  | 1 |  |  |  | 16 |
General and administrative expenses |  |  | 3 |  |  |  | 21 |
|  |  | 7 |  |  |  | 81 |

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