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Fair Value Measurements
 12 Months Ended
Dec. 31, 2020
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 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, 2020 
   Fair value measurements using input type 
   Level 1   Level 2   Level 3   Total 
Assets:                
Corporate bonds  $
-
   $
-
   $
-
   $
-
 
Convertible bonds   
-
    1,238    
-
    1,238 
                     
Total financial assets  $
-
   $1,238   $
-
   $1,238 
                     
Liabilities:                    
Contingent consideration  $
-
   $
-
   $11,206   $11,206 
                     
Total financials liabilities  $
-
   $
-
   $11,206   $11,206 

 

   December 31, 2019 
   Fair value measurements using input type 
   Level 1   Level 2   Level 3   Total 
Assets:                
Corporate bonds  $
-
   $5,488   $
-
   $5,488 
Convertible bonds   
-
    1,112    
-
    1,112 
                     
Total financial assets  $
-
   $6,600   $
-
   $6,600 
                     
Liabilities:                    
Contingent consideration  $
-
   $
-
   $5,964   $5,964 
                     
Total financials liabilities  $
-
   $
-
   $5,964   $5,964 

 

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

 

   December 31, 
   2020   2019 
         
Opening balance  $5,964   $414 
Increase in contingent consideration due to acquisitions   2,222    5,851 
Payment of contingent consideration   (728)   (585)
Increase in fair value of contingent consideration   3,812    255 
Decrease in fair value of contingent consideration   (2,040)   - 
Amortization of interest and exchange rate   2,014    29 
           
Closing balance  $10,561   $5,964