XML 95 R82.htm IDEA: XBRL DOCUMENT v3.22.1

Long Term Debt (Details) - Schedule of long term debt
₪ in Thousands, ¥ in Thousands, $ in Thousands

Dec. 31, 2021

USD ($)

Dec. 31, 2021

ILS (₪)

Dec. 31, 2021

JPY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2020

ILS (₪)

Dec. 31, 2020

JPY (¥)

Debt Instrument [Line Items]

Long-term Debt, Excluding Current Maturities

$ 32,543

$ 23,622

Current maturities

₪ (12,388)

(10,270)

Long-term Debt, Total

20,155

13,352

Loans from banks and other [Member]

Debt Instrument [Line Items]

Loans from banks and other | ₪

^[1]

₪ 17,475

₪ 23,534

Bank loan [Member]

Debt Instrument [Line Items]

Bank loan

^[2]

$ 15,000

Other long term debt [Member]

Debt Instrument [Line Items]

Other long term debt | ¥

¥ 68

¥ 88

Minimum [Member] | Loans from banks and other [Member]

Debt Instrument [Line Items]

Loans from banks and other

1.70%

1.70%

1.70%

Maximum [Member] | Loans from banks and other [Member]

Debt Instrument [Line Items]

Loans from banks and other

5.00%

5.00%

5.00%

Maximum [Member] | Bank loan [Member]

Debt Instrument [Line Items]

Bank loan

2.10%

2.10%

2.10%

Maximum [Member] | Other long term debt [Member]

Debt Instrument [Line Items]

Other long term debt

1.90%

1.90%

1.90%

[1]

This is mainly comprised of a bank loan obtained by the Company on November 2016 in the amount of $ 31,356. The loan is linked to the New Israel Shekel, and was obtained from an Israeli financial institution. The principal amount of the loan is payable in seven equal annual installments with the final payment due on November 2, 2023 and bears a fixed interest rate of 2.60% per annum, payable in two semi-annual payments.

[2]

On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal amount of the loan is payable in eight equal annual installments with the final payment due on December 1, 2025 and bears a fixed interest rate of LIBOR + 2.1% per annum, payable in two semi-annual payments.

X

- References

No definition available.

+ Details

Name:	mgic_BankLoan
Namespace Prefix:	mgic_
Data Type:	dtr:percentItemType
Balance Type:	na
Period Type:	instant

X

- References

No definition available.

+ Details

Name:	mgic_BankLoaninDollars
Namespace Prefix:	mgic_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- References

No definition available.

+ Details

Name:	mgic_OtherLongTermDebtinDollars
Namespace Prefix:	mgic_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- References

No definition available.

+ Details

Name:	mgic_OtherLongTermDebts
Namespace Prefix:	mgic_
Data Type:	dtr:percentItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Contractual interest rate for funds borrowed, under the debt agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22(a)(1))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:percentItemType
Balance Type:	na
Period Type:	instant

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_DebtInstrumentLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-URI https://asc.fasb.org/extlink&oid=123466204&loc=SL6031897-161870

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69C
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16))
-URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
-URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1D
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495340-112611

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebt
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebtCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt classified as noncurrent. Excludes lease obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_LongTermDebtNoncurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Definition

Amount of long-term loans classified as other, payable after one year or the operating cycle, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_OtherLoansPayableLongTerm
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

X

- Details

Name:	us-gaap_LongtermDebtTypeAxis=mgic_LoansFromBanksAndOtherMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_LongtermDebtTypeAxis=mgic_BankLoanMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_LongtermDebtTypeAxis=mgic_OtherLongTermDebtMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_RangeAxis=srt_MinimumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	srt_RangeAxis=srt_MaximumMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: