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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 88,090 $ 88,127
Short-term bank deposits 5,586 289
Marketable securities 1,142 1,238
Trade receivables (net of allowance of $ 5,071 and $ 3,967 at December 31, 2021 and 2020, respectively) 116,975 91,986
Unbilled receivables and contract assets 25,096 19,073
Other accounts receivable and prepaid expenses 9,890 10,513
Total current assets 246,779 211,226
LONG-TERM ASSETS:    
Severance pay fund 3,646 4,673
Deferred tax asset 8,091 6,397
Operating lease right-of-use assets 24,299 24,509
Other long-term receivables 5,165 5,507
PROPERTY AND EQUIPMENT, NET 5,872 5,988
INTANGIBLE ASSETS, NET 51,390 53,404
GOODWILL 146,803 135,682
Total long-term assets 245,266 236,160
Total assets 492,045 447,386
CURRENT LIABILITIES:    
Short term debt 17,032 11,529
Trade payables 24,711 14,250
Accrued expenses and other accounts payable 45,173 41,846
Current maturities of operating lease liabilities 3,943 3,413
Liabilities due to acquisition activities 6,635 4,998
Deferred revenues and customer advances 10,771 8,793
Total current liabilities 108,265 84,829
LONG TERM LIABILITIES:    
Long-term debt 20,155 13,352
Long-term operating lease liabilities 20,970 21,109
Long-term liabilities due to acquisition activities 13,892 10,926
Deferred tax liability 18,112 17,639
Accrued severance pay 4,551 5,545
Total long-term liabilities 77,680 68,571
COMMITMENTS AND CONTINGENCIES, see Note 16
REDEEMABLE NON-CONTROLLING INTEREST 30,432 24,980
Magic Software Enterprises equity:    
Ordinary shares of NIS 0.1 par value - Authorized: 50,000,000 shares at December 31, 2021 and 2020; Issued and Outstanding: 49,073,055 and 49,035,055 shares at December 31, 2021 and 2020, respectively 1,165 1,164
Additional paid-in capital 211,543 211,713
Accumulated other comprehensive income 9,294 7,835
Retained earnings 43,246 39,720
Total equity attributable to Magic Software Enterprises shareholders 265,248 260,432
Non-controlling interests 10,420 8,574
Total equity 275,668 269,006
Total liabilities, redeemable non-controlling interest and equity $ 492,045 $ 447,386