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Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Share Capital
Additional paid-in capital
Retained earnings
Accumulated other comprehensive Loss
Treasury shares (cost)
Non-controlling interests
Total
Balance at beginning at Dec. 31, 2018 $ 4,190 $ 98,008 $ 262,557 $ 3,134 $ (259) $ 437,767 $ 805,397
Balance at beginning (in Shares) at Dec. 31, 2018 14,750,338            
Impact of the adoption of IFRS 16 (1,187) (1,225) (2,412)
Balance as of January 1, 2019 (Including the impact of the adoption of IFRS 16) $ 4,190 98,008 261,370 3,134 (259) 436,542 802,985
Balance as of January 1, 2019 (Including the impact of the adoption of IFRS 16) (in Shares) 14,750,338            
Net income 38,820 55,603 94,423
Foreign currency translation 8,437 13,856 22,293
Actuarial gain from defined benefit plans (12) (14) (26)
Unrealized gain (loss) on debt instruments at fair value through other comprehensive income, net 43 52 95
Share in other comprehensive income of joint venture 62 62
Total other comprehensive income (loss) (12) 8,542 13,894 22,424
Total comprehensive income (loss) 38,808 8,542   69,497 116,847
Issuance of shares upon conversion of convertible debentures $ 150 22,321 22,471
Issuance of shares upon conversion of convertible debentures (in Shares) 543,929            
Cost of share-based payment (Note 17) 257 3,617 3,874
Dividend to Formula’s shareholders (15,032) (15,032)
Dividend to non-controlling interests in subsidiaries (38,233) (38,233)
Transactions with non-controlling interests due to holding changes, including exercise of employees’ stock options (100) 1,053 953
Acquisition of non-controlling interests (9) (3,838) (3,847)
Settlement of put options over non-controlling interests 260 5,597 5,857
Non-controlling interests arising from initially consolidated company   459 459
Balance at ending at Dec. 31, 2019 $ 4,340 120,737 285,146 11,676 (259) 474,694 896,334
Balance at ending (in Shares) at Dec. 31, 2019 15,294,267            
Net income 46,776 67,246 114,022
Foreign currency translation 14,007 20,099 34,106
Actuarial gain from defined benefit plans 396 444 840
Unrealized gain (loss) on debt instruments at fair value through other comprehensive income, net (1) (1) (2)
Share in other comprehensive income of joint venture (169) (169)
Total other comprehensive income (loss) 396 13,837 20,542 34,775
Total comprehensive income (loss) 47,172 13,837 87,788 148,797
Cost of share-based payment (Note 17) 1,310 6,546 7,856
Dividend to Formula’s shareholders (7,960) (7,960)
Dividend to non-controlling interests in subsidiaries (39,056) (39,056)
Transactions with non-controlling interests due to holding changes, including exercise of employees’ stock options 847 4,459 5,306
Acquisition of non-controlling interests (6,538) (13,114) (19,652)
Dilution in Formula’s share in Sapiens due to issuance of Sapiens’ ordinary shares   34,462       74,275 108,737
Settlement of put options over non-controlling interests (1,569) (4,137) (5,706)
Non-controlling interests arising from initially consolidated company 13,887 13,887
Balance at ending at Dec. 31, 2020 $ 4,340 149,249 324,358 25,513 (259) 605,342 $ 1,108,543
Balance at ending (in Shares) at Dec. 31, 2020 15,294,267           15,294,267
Net income 54,585 87,317 $ 141,902
Foreign currency translation (125) (112) (237)
Actuarial gain from defined benefit plans 1,460 1,547 3,007
Unrealized gain (loss) on debt instruments at fair value through other comprehensive income, net            
Share in other comprehensive income of joint venture 128 128
Total other comprehensive income (loss) 1,460 3 1,435 2,898
Total comprehensive income (loss) 56,045 3 88,752 144,800
Cost of share-based payment (Note 17) 7,434 7,405 14,839
Dividend to Formula’s shareholders (22,088) (22,088)
Dividend to non-controlling interests in subsidiaries (62,662) (62,662)
Transactions with non-controlling interests due to holding changes, including exercise of employees’ stock options (540) 3,211 2,671
Acquisition of non-controlling interests 1,005 (2,705) (1,700)
Settlement of put options over non-controlling interests (4,100) (4,532) (8,632)
Non-controlling interests arising from initially consolidated company 4,016 4,016
Balance at ending at Dec. 31, 2021 $ 4,340 $ 153,048 $ 358,315 $ 25,516 $ (259) $ 638,827 $ 1,179,787
Balance at ending (in Shares) at Dec. 31, 2021 15,294,267           15,294,267