XML 128 R111.htm IDEA: XBRL DOCUMENT
v3.22.1

Debentures (Details) |  |  |  | 1 Months Ended | 12 Months Ended
--- | --- | --- | --- | --- | ---
Apr. 12, 2021 | Jun. 08, 2020 | Sep. 16, 2015 USD ($) | Mar. 31, 2019 USD ($) | Mar. 31, 2019 ILS (₪) | Jan. 31, 2018 | Sep. 17, 2017 | Sep. 16, 2015 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Dec. 31, 2019 USD ($)
Debentures (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |
Interest expenses |  |  |  |  |  |  |  |  | $ 7,056,000 | $ 6,411,000 |
Amortization of debt premium, discount and issuance costs, net |  |  |  |  |  |  |  |  | (109,000) | 135,000 |
Debentures amount |  |  |  |  |  |  |  |  | 50,295,000 | 60,346,000 | $ 81,676,000
Fixed interest rate |  |  |  | 2.29% | 2.29% |  |  |  |  |  |
Commitment commission expenses |  |  |  | $ 924 | ₪ 3,355 |  |  |  |  |  |
Series A Secured Debentures [Member] |  |  |  |  |  |  |  |  |  |  |
Debentures (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |
Debentures amount |  |  | $ 26,295,000 |  |  |  |  | $ 26,295,000 |  |  |
Purchase price |  |  | 100.00% |  |  |  |  |  |  |  |
Public offering, description |  |  |  |  |  |  |  | The principal amount outstanding under the Formula Systems Series A Secured Debentures bears interest at a fixed rate of 2.8% per annum (subject to adjustments based on the credit rating of the debentures), payable on July 2nd and January 2nd of each of the years 2016 through 2024. Issuance costs, including early commitment commission of approximately NIS 1,246 (approximately $320), were allocated to the Formula Systems Series A Secured Debentures and are amortized as financial expenses over the term of the Series A Secured Debentures due in 2024. |  |  |
Description of debentures |  |  |  |  |  | Formula issued additional Formula Systems Series A Secured Debentures in an aggregate principal amount of NIS 150,000 (approximately $44,053) through a private placement to qualified investors in Israel. The gross proceeds received by Formula from the issuance of Formula Systems Series A Secured Debentures in January 2018 were NIS 155,205 (approximately $45,581), out of which NIS 336 was attributed to interest payable (approximately $99). Debt premium of NIS 4,869 (approximately $1,430) net of issuance costs of NIS 782 (approximately $225) was allocated to the Formula Systems Series A Secured Debentures and is amortized as financial income over the remaining term of the Formula Systems Series A Secured Debentures due in 2024. |  |  |  |  |
Fair value of debentures |  |  |  |  |  |  |  |  | 34,057,000 | 44,229,000 |
Series C Secured Debentures [Member] |  |  |  |  |  |  |  |  |  |  |
Debentures (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |
Purchase price |  |  |  | 100.00% | 100.00% |  |  |  |  |  |
Fair value of debentures |  |  |  |  |  |  |  |  | 125,672,000 | 86,993,000 |
Debentures amount |  |  |  | $ 82,600,000 |  |  |  |  |  |  |
Description of debentures | Formula issued additional Formula Systems Series C Secured Debentures in an aggregate principal amount of NIS 160,000 (approximately $48,617) through a private placement to qualified investors in Israel. The gross proceeds received by Formula for the issuance of Formula Systems Series C Secured Debentures in April 2021 were NIS 165,920 (approximately $50,524), out of which NIS 1,329 was attributed to interest payable (approximately $405). Debt premium of NIS 4,591 (approximately $1,398) net of issuance costs of NIS 752 (approximately $229) were allocated to the Formula Systems Series C Secured Debentures and are amortized as financial income over the remaining term of the Formula Systems Series A Secured Debentures due in 2026. |  |  |  |  |  |  |  |  |  |
Sapiens' Series B Debentures [Member] |  |  |  |  |  |  |  |  |  |  |
Debentures (Details) [Line Items] |  |  |  |  |  |  |  |  |  |  |
Description of debentures |  | Sapiens issued additional Sapiens’ Series B Debentures in an aggregate principal amount of NIS 210,000 (approximately $60,362) through a public offering in Israel. The gross proceeds received from the issuance of Sapiens’ Series B Debentures in June 2020 were NIS 210,840 (approximately $60,603), out of which approximately NIS 3,006 was attributed to interest payable (approximately $864). Debt discount of NIS 2,166 (approximately $623) and issuance costs of NIS 2,326 (approximately $669) were allocated to Sapiens’ Series B Debentures and are amortized as financial expenses over the remaining term of the Sapiens Series B Debentures due in 2026. Following the raise of the additional NIS 210,000 in Series B Debentures, a $20,000 short-term bank loan taken by Sapiens on March 18, 2020, from a commercial bank was fully repaid on June 9, 2020. |  |  |  |  | Sapiens issued its unsecured Series B Debentures in an aggregate principal amount of NIS 280,000 (approximately $79,186), linked to the US dollar and payable in eight equal annual payments of $9,898 on January 1st of each of the years 2019 through 2026. The outstanding principal amount of Sapiens’ Series B Debentures bears a fixed interest rate of 3.37% per annum (which may be adjusted based on changes to the credit rating of the debentures), payable on January 1st and July 1st of each of the years 2018 through 2025, with one final interest payment due on January 1, 2026. Debt discount and issuance costs were approximately $956, allocated to Sapiens’ Series B Debentures discount and are amortized as financial expenses over the term of the Series B Debentures due in 2026. |  |  |  |
Fair value of debentures |  |  |  |  |  |  |  |  | $ 100,464,000 | $ 122,760,000 |

X
- Definition Description of debentures. + References No definition available. + Details
Name: | forty_DebenturesDescription
Namespace Prefix: | forty_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | forty_DebenturesDetailsLineItems
Namespace Prefix: | forty_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of discount and issuance costs amortization. + References No definition available. + Details
Name: | forty_DiscountAndIssuanceCostsAmortization
Namespace Prefix: | forty_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The amount of interest expenses. + References No definition available. + Details
Name: | forty_InterestExpenses
Namespace Prefix: | forty_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debentures amount. + References No definition available. + Details
Name: | forty_ProceedsFromIssueOfBondsNotesAndDebenture
Namespace Prefix: | forty_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The interest rate on borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2021-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_7&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_BorrowingsInterestRate
Namespace Prefix: | ifrs-full_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The change in equity resulting from the issuing of convertible instruments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 106 -Subparagraph d -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_106_d&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_IssueOfConvertibleInstruments
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The name of the entity's ultimate or any intermediate parent whose consolidated financial statements that comply with IFRSs have been produced for public use. [Refer: Consolidated [member]; IFRSs [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 27 -IssueDate 2021-01-01 -Paragraph 16 -Subparagraph a -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=27&code=ifrs-tx-2021-en-r&anchor=para_16_a&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_NameOfEntityWhoseConsolidatedFinancialStatementsHaveBeenProducedForPublicUse
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of fee and commission expense that the entity does not separately disclose in the same statement or note. [Refer: Fee and commission expense] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 112 -Subparagraph c -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_112_c&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_OtherFeeAndCommissionExpense
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash inflow from the issuing of bonds, notes and debentures. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 7 -IssueDate 2021-01-01 -Paragraph 17 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_17&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_ProceedsFromIssueOfBondsNotesAndDebentures
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Identification of the lender and information about a contractual promise to repay a short-term or long-term obligation, which includes borrowings under lines of credit, notes payable, commercial paper, bonds payable, debentures, and other contractual obligations for payment. This may include rationale for entering into the arrangement, significant terms of the arrangement, which may include amount, repayment terms, priority, collateral required, debt covenants, borrowing capacity, call features, participation rights, conversion provisions, sinking-fund requirements, voting rights, basis for conversion if convertible and remarketing provisions. The description may be provided for individual debt instruments, rational groupings of debt instruments, or by debt in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of subsidiary's or equity investee's stock owned by parent company before stock transaction. + References No definition available. + Details
Name: | us-gaap_SaleOfStockPercentageOfOwnershipBeforeTransaction
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | forty_TypeOfSeriesDebentureAxis=forty_SeriesASecuredDebenturesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | forty_TypeOfSeriesDebentureAxis=forty_SeriesCSecuredDebenturesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | forty_TypeOfSeriesDebentureAxis=forty_SapiensSeriesBDebenturesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |