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Fair Value Measurements
 12 Months Ended
Dec. 31, 2017
Fair Value Measurements [Abstract]  
FAIR VALUE MEASUREMENTS
NOTE 5:- FAIR VALUE MEASUREMENTS

 

In accordance with ASC 820, the Company measures its investment in marketable securities and foreign currency derivative contracts at fair value. Generally equity funds are classified within Level 1, this is because these assets are valued using quoted prices in active markets. Foreign currency derivative contracts, certain corporate bonds and convertible bonds are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments.

 

Contingent consideration is classified within Level 3. The Company values the Level 3 contingent consideration using discounted cash flow of the expected future payments, whose inputs include interest rate.

 

The Company’s financial assets measured at fair value on a recurring basis, excluding accrued interest components, consisted of the following types of instruments as of the following dates:

 

      December 31, 2016  
      Fair value measurements using input type  
      Level 1     Level 2     Level 3     Total  
  Assets:                        
  Corporate bonds   $ -     $ 12,276     $ -     $ 12,276  
  Equity fund     230       -       -       230  
                                   
  Total financial assets   $ 230     $ 12,276     $ -     $ 12,506  
                                   
  Liabilities:                                
  Contingent consideration   $ -     $ -     $ 3,088     $ 3,088  
                                   
  Total financials liabilities   $ -     $ -     $ 3,088     $ 3,088  

 

      December 31, 2017  
      Fair value measurements using input type  
      Level 1     Level 2     Level 3     Total  
  Assets:                        
  Corporate bonds   $       -     $ 12,929     $   -     $ 12,929  
  Convertible bonds     -       1,209       -       1,209  
                                   
  Total financial assets   $ -     $ 14,138     $ -     $ 14,138  
                                   
  Liabilities:                                
  Contingent consideration   $ -     $ -     $ 1,333     $ 1,333  
                                   
  Total financials liabilities   $ -     $ -     $ 1,333     $ 1,333  

 

Fair value measurements using significant unobservable inputs (Level 3):

 

      December 31,  
      2016     2017  
               
  Opening balance   $ 1,220     $ 3,088  
  Increase in contingent consideration due to acquisitions     1,868       -  
  Payment of contingent consideration     (883 )     (2,109 )
  Increase in fair value of contingent consideration     665       1,587  
  Decrease in fair value of contingent consideration     -       (1,287 )
  Decrease in liability against other receivables     -       (118 )
  Amortization of interest and exchange rate     218       172  
                   
  Closing balance   $ 3,088     $ 1,333