XML 29 R13.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [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 and liabilities measured at fair value on a recurring basis, consisted of the following types of instruments:

 

   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 

 

   December 31, 2018 
   Fair value measurements using input type 
   Level 1   Level 2   Level 3   Total 
Assets:                
Corporate bonds  $-   $8,757   $-   $8,757 
Convertible bonds   -    1,156    -    1,156 
                     
Total financial assets  $-   $9,913   $-   $9,913 
                     
Liabilities:                    
Contingent consideration  $-   $-   $414   $414 
                     
Total financials liabilities  $-   $-   $414   $414 

 

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

 

   December 31, 
   2017   2018 
         
Opening balance  $3,088   $1,333 
Increase in contingent consideration due to acquisitions   -    124 
Payment of contingent consideration   (2,109)   (974)
Increase in fair value of contingent consideration   1,587    210 
Decrease in fair value of contingent consideration   (1,287)   (248)
Decrease in liability against other receivables   (118)   - 
Amortization of interest and exchange rate   172    (31)
           
Closing balance  $1,333   $414