XML 28 R14.htm IDEA: XBRL DOCUMENT
v3.23.1

Fair Value Measurement | 12 Months Ended
--- | ---
Dec. 31, 2022
Fair Value Measurement [Abstract] |
FAIR VALUE MEASUREMENT |
| NOTE 6:- | FAIR VALUE MEASUREMENT
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. The Company’s financial assets and liabilities measured at fair value on a recurring basis, including accrued interest components, consisted of the following types of instruments as of January 1, 2021, December 31, 2021 and 2022:
|  | Fair value measurements |
|  | December 31, 2022 |
|  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |
Liability in respect of business combinations |  |  | 19,693 |  |  |  | 19,693 |
Put options of non-controlling interests |  |  | 28,292 |  |  |  | 28,292 |
|  | $ | 47,985 |  |  | $ | 47,985 |
|  | Fair value measurements |
|  | December 31, 2021 |
|  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |
Liability in respect of business combinations |  |  | 17,772 |  |  |  | 17,772 |
Put options of non-controlling interests |  |  | 29,334 |  |  |  | 29,334 |
|  | $ | 47,106 |  |  | $ | 47,106 |
|  | Fair value measurements |
|  | January 1, 2021 |
|  | Level 3 |  |  | Total |
Liabilities: |  |  |  |  |  |
Liability in respect of business combinations |  |  | 10,561 |  |  |  | 10,561 |
Put options of non-controlling interests |  |  | 23,926 |  |  |  | 23,926 |
|  | $ | 34,487 |  |  | $ | 34,487 |
There were no Level 1 or Level 2 instruments during neither of the reported periods. The movement in the liability in respect of the business combinations is as follows:
|  | December 31, |
|  | 2021 |  |  | 2022 |
Opening balance |  | $ | 10,561 |  |  | $ | 17,772 |
Increase in contingent consideration due to acquisitions |  |  | 3,098 |  |  |  | 10,670 |
Payment of contingent consideration |  |  | (1,816 | ) |  |  | (8,547 | )
Increase in fair value of contingent consideration |  |  | 3,476 |  |  |  | 119 |
Decrease in fair value of contingent consideration |  |  | (244 | ) |  |  | (1,025 | )
Foreign currency translation adjustments |  |  | (36 | ) |  |  | (598 | )
Amortization of interest and exchange rate |  |  | 2,661 |  |  |  | 1,302 |
Closing balance |  | $ | 17,772 |  |  | $ | 19,693 |
The financial assets and liabilities in the consolidated statements of financial position are classified by groups of financial instruments pursuant to IFRS 9:
|  | January 1, |  |  | December 31, |
|  | 2021 |  |  | 2021 |  |  | 2022 |
|  | U.S. Dollars in thousands |
Financial assets |  |  |  |  |  |  |  |  |
Financial assets at cost: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 88,127 |  |  | $ | 88,090 |  |  | $ | 83,062 |
Short-term bank deposits |  |  | 289 |  |  |  | 5,586 |  |  |  | 3,904 |
Total financial assets at cost |  | $ | 88,416 |  |  | $ | 93,676 |  |  | $ | 86,966 |
Total financial assets |  | $ | 88,416 |  |  | $ | 93,676 |  |  | $ | 86,966 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
Financial liabilities at fair value through equity: |  |  |  |  |  |  |  |  |  |  |  |
Put options of non-controlling interests |  | $ | 23,926 |  |  | $ | 29,334 |  |  | $ | 28,292 |
Financial liabilities at fair value through profit or loss: |  |  |  |  |  |  |  |  |  |  |  |
Liability in respect of business combinations |  | $ | 15,924 |  |  | $ | 20,527 |  |  | $ | 24,663 |
Financial liabilities measured at amortized cost: |  |  |  |  |  |  |  |  |  |  |  |
Loans from bank and financial institutions (short-term and long-term debt) |  | $ | 24,950 |  |  | $ | 37,263 |  |  | $ | 51,167 |
Lease liabilities |  |  | 25,022 |  |  |  | 25,174 |  |  |  | 28,873 |
Total financial liabilities measured at amortized cost: |  | $ | 49,972 |  |  | $ | 62,437 |  |  | $ | 80,040 |
Total financial and lease liabilities |  | $ | 89,821 |  |  | $ | 112,298 |  |  | $ | 132,995 |

X
- Definition The entire disclosure for fair value measurement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 13 -IssueDate 2022-03-24 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=13&code=ifrs-tx-2022-en-r&doctype=Standard&dita_xref=IFRS13_g91-99__IFRS13_g91-99_TI -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfFairValueMeasurementExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | mgic_FairValueMeasurementLineItems
Namespace Prefix: | mgic_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration