Related Parties Transactions And Balances

12 Months Ended

Dec. 31, 2011

Note 26 - RELATED PARTIES TRANSACTIONS AND BALANCES


Transactions:	Year ended December 31,
	2011		2010		2009
Income -
Sales to affiliated companies (*)	$	20,256	$	33,124	$	39,929
Participation in expenses	$	3,923	$	3,955	$	4,217

Cost and expenses -
Supplies from affiliated companies (**)	$	44,840	$	57,339	$	64,058


Balances:	December 31,
	2011		2010
Trade receivables and other receivables (*)	$	21,696	$	20,970
Trade payables (**)	$	17,767	$	30,955

The purchases from related parties are made at arm's length. The sales to the Company's related parties in respect of U.S. government defense contracts are made on the basis of cost.

(*)

The significant sales and balances include sales of helmet mounted cueing systems purchased from the Company by VSI.

(**)

Includes electro-optics components and sensors, purchased by the Company from SCD, and electro-optics products, purchased by the Company, from Opgal.

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details