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v3.23.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021
Cash flows from operating activities: |  |
Net income | $ 46,279 | $ 35,339
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization | 19,795 | 19,837
Cost of share-based payment | 2,079 | 956
Changes in value of short-term and long-term loans from banks and others and deposits, net | (1,686) | 71
Changes in deferred taxes, net | (3,904) | (3,080)
Payments of deferred and contingent consideration related to acquisitions | (3,919) | (556)
Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency | 3,747 |
Amortization of premium and accrued interest on debt instruments at fair value through other comprehensive income | 76 | 96
Working capital adjustments: |  |
Trade receivables | (2,569) | (27,539)
Accrued expenses and other accounts payable | (975) | 5,415
Other current and long-term accounts receivable | (1,934) | 263
Trade payables | 139 | 8,792
Deferred revenues | (513) | 4,080
Net cash provided by operating activities | 56,615 | 43,674
Cash flows from investing activities: |  |
Payments for business acquisitions, net of cash acquired (Appendix A) | (21,670) | (6,833)
Loan extended to related party | (2,250) |
Cash paid in conjunction with deferred payments and contingent liabilities related to business combinations | (4,870) | (5,342)
Purchase of intangible assets | (219) |
Purchase of property and equipment | (4,381) | (1,439)
Redemption of marketable securities | 309 |
Change in short-term deposits | 1,682 | (5,390)
Capitalization of software development | (3,059) | (3,193)
Net cash used in investing activities | (34,458) | (22,197)
Cash flows from financing activities: |  |
Exercise of employees’ stock options | 1 | 41
Dividend paid to non-controlling interests | (4,170) | (4,233)
Dividend to Magic’s shareholders | (24,841) | (21,780)
Repayment of long-term loans from banks and others | (14,323) | (14,467)
Receipt of long-term loans from banks and others | 30,703 | 25,558
Repayment of lease liabilities | (4,792) | (5,874)
Cash paid due to exercise of put option by non-controlling interests | (854) | (511)
Net cash used in financing activities | (18,276) | (21,266)
Effect of exchange rate changes on cash and cash equivalents | (8,909) | (249)
Decrease in cash and cash equivalents | (5,028) | (38)
Cash and cash equivalents at beginning of year | 88,090 | 88,127
Cash and cash equivalents at end of year | 83,062 | 88,090
Fair value of assets acquired and liabilities assumed at the date of acquisition: |  |
Net assets, excluding acquired cash | (1,168) | 506
Intangible assets, net of deferred taxes | (13,552) | (4,817)
Goodwill | (22,370) | (8,544)
Deferred and contingent liabilities assumed in current year business combinations | 15,420 | 5,303
Non-controlling interests |  | 719
Cash paid in conjunction with acquisitions, net of acquired cash total | (21,670) | (6,833)
Non-cash activities: |  |
Right-of-use asset recognized with corresponding lease liability | 6,349 | 2,801
Income taxes | 14,457 | 13,050
Interest | $ 1,306 | $ 1,264

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- Definition The increase (decrease) in the revaluation surplus that relates to right-of-use assets. [Refer: Revaluation surplus; Right-of-use assets] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2022-03-24 -Paragraph 57 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2022-en-r&anchor=para_57&doctype=Standard -URIDate 2022-03-24 + Details
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- References No definition available. + Details
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- Definition Amortization of premium and accrued interest on debt instruments at fair value. + References No definition available. + Details
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- Definition Capitalization of software development. + References No definition available. + Details
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- Definition Cash paid due to exercise of put option by non-controlling interests. + References No definition available. + Details
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- Definition Cash paid in conjunction with deferred payments and contingent liabilities related to business. + References No definition available. + Details
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- Definition Changes in value of short-term and long-term loans from banks and others and deposits, net + References No definition available. + Details
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- Definition Deferred and contingent liabilities assumed in current year business combinations. + References No definition available. + Details
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- Definition The amount of deferred revenues. + References No definition available. + Details
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- Definition The amount of dividend to Magic’s shareholders. + References No definition available. + Details
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- Definition Effect of exchange rate on of cash and cash equivalents held in currencies other than the functional currency. + References No definition available. + Details
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- Definition Non-controlling interests. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Trade receivables. + References No definition available. + Details
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- Definition Intangible assets, net of deferred taxes. + References No definition available. + Details
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- Definition Net assets, excluding acquired cash. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Other current and long-term accounts receivable. + References No definition available. + Details
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- Definition Payments for business acquisitions, net of cash acquired. + References No definition available. + Details
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- Definition Payments of deferred and contingent consideration related to acquisitions. + References No definition available. + Details
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- Definition Repayment of long-term loans from banks and others. + References No definition available. + Details
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- References No definition available. + Details
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