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Inventories | 12 Months Ended
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Dec. 31, 2022
Inventory Disclosure [Abstract] |
Inventories | Note 4 - Inventories
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | U.S. Dollars (in thousands) |
Components |  |  | 43,017 |  |  |  | 33,212 |
Work in process |  |  | 13,951 |  |  |  | 12,688 |
Finished products * |  |  | 13,930 |  |  |  | 18,009 |
|  |  | 70,898 |  |  |  | 63,909 |
* includes systems at customer locations not yet sold, as of December 31, 2022 and 2021, in the amount of $5,664 and $4,259 respectively. Inventories are presented in:
|  | December 31, |
|  | 2022 |  |  | 2021 |
|  | U.S. Dollars (in thousands) |
Current assets |  |  | 65,541 |  |  |  | 58,759 |
Non-current assets (A) |  |  | 5,357 |  |  |  | 5,150 |
|  |  | 70,898 |  |  |  | 63,909 |
| (A) | Long-term Inventory:
At December 31, 2022, $5,357 of the Company's inventory is classified among long-term assets according to Management’s estimate based on the recent level of sales (at December 31, 2021 - $5,150). These amounts are comprised of spare parts. The Company’s policy is to keep components to provide support and service to systems sold by it to its customers over the past years (usually the support is over a period of seven to ten years) until the Company announces it will not continue to support certain systems. Therefore, this inventory is usually consumed over longer periods than inventory classified as current, and as such the respective amount that is not expected to be consumed in the next year is classified as non-current. Management believes that this inventory will be utilized according to its forecasted sales and that no loss will be incurred.
| (B) | Inventory provision
In 2022, based on Management's estimates regarding future sales, a provision of $263 was made against damaged, obsolete, excess and slow-moving inventory (in 2021 - $424). The provisions were recorded in the costs of revenues line item in the consolidated statement of income. The provisions result in a new cost basis that is not subsequently marked up based on changes in underlying facts and circumstances.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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