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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 160,285 $ 190,243
Short-term bank deposit 20,000 20,000
Trade receivables (net of allowance for credit losses of $1,130 and $1,337 on December 31, 2022 and 2021, respectively) 58,563 53,985
Unbilled receivables and contract assets 34,819 22,276
Other receivables and prepaid expenses 11,640 13,841
Total current assets 285,307 300,345
LONG-TERM ASSETS:    
Capitalized software development costs, net 23,426 25,203
Other intangible assets, net 44,003 56,939
Property and equipment, net 12,021 14,458
Goodwill 252,232 261,141
Severance pay fund 3,996 5,954
Operating lease right-of-use assets 33,688 43,665
Deferred tax assets 9,418 3,122
Other long-term assets 4,253 4,166
Total long-term assets 383,037 414,648
Total assets 668,344 714,993
CURRENT LIABILITIES:    
Trade payables 9,415 5,008
Employees and payroll accruals 42,256 43,402
Accrued expenses and other liabilities 34,706 33,048
Current maturities of Series B Debentures 19,796 19,796
Current maturities of operating lease liabilities 9,063 10,827
Deferred revenues 30,720 39,614
Total current liabilities 145,956 151,695
LONG-TERM LIABILITIES:    
Series B Debentures, net of current maturities 59,275 78,986
Deferred tax liabilities 11,363 15,360
Other long-term liabilities 13,312 12,144
Long-term operating lease liabilities 28,432 38,751
Accrued severance pay 7,063 9,236
Redeemable non-controlling interest 89 101
Total long-term liabilities 119,534 154,578
COMMITMENTS AND CONTINGENCIES
Share capital:    
Common shares of € 0.01 par value: Authorized: 70,000,000 shares on December 31, 2022 and 2021; Issued: 57,468,506 and 57,393,305 shares on December 31, 2022 and 2021, respectively; Outstanding: 55,140,210 and 55,065,009 shares on December 31, 2022 and 2021, respectively 756 756
Additional paid-in capital 344,734 340,837
Treasury shares, at cost - 2,328,296 Common shares on December 31, 2022 and 2021 (9,423) (9,423)
Accumulated other comprehensive income (loss) (21,138) 2,819
Retained earnings 85,575 71,559
Total Sapiens International Corporation N.V. shareholders’ equity 400,504 406,548
Non-controlling interests 2,350 2,172
Total equity 402,854 408,720
Total liabilities and equity $ 668,344 $ 714,993