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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