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PROPERTY AND EQUIPMENT, NET | 12 Months Ended
--- | ---
Dec. 31, 2017
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | NOTE 7 - PROPERTY AND EQUIPMENT, NET
| A. | Composition
|  | As of December 31, |
|  | 2017 |  |  | 2016 |
Original cost: |  |  |  |  |  |
Buildings (including facility infrastructure) |  | $ | 343,247 |  |  | $ | 333,696 |
Machinery and equipment |  |  | 2,282,042 |  |  |  | 2,093,204 |
|  | $ | 2,625,289 |  |  | $ | 2,426,900 |
Accumulated depreciation: |  |  |  |  |  |  |  |
Buildings (including facility infrastructure) |  | $ | (215,515 | ) |  | $ | (205,604 | )
Machinery and equipment |  |  | (1,774,650 | ) |  |  | (1,604,610 | )
|  | $ | (1,990,165 | ) |  | $ | (1,810,214 | )
|  | $ | 635,124 |  |  | $ | 616,686 |
As of December 31, 2017 and 2016, the original cost of buildings, machinery and equipment was reflected net of investment grants (see B below) in the aggregate amount of $285,930 and $284,406, respectively. The following is the composition of the leased equipment under capital lease agreements included under “Machinery and equipment“ above:
|  | As of December 31, |
|  | 2017 |  |  | 2016 |
Original cost - Machinery and equipment |  | $ | 16,630 |  |  | $ | -- |
Accumulated depreciation - Machinery and equipment |  |  | (306 | ) |  |  | -- |
|  | $ | 16,324 |  |  | $ | -- |
| B. | Investment Grants
Substantially all of Tower’s existing facilities and other capital investments made through 2012 have been granted approved enterprise status, as provided by the Investments Law. In 2011, Tower received an approval certificate from the Israeli Investment Center for an expansion program for investments in fixed assets in Fab 2 facility in Israel, according to which Tower received grants in the amount of NIS 145,000 (approximately $36,000) for eligible investments in machinery, equipment and other assets made by Tower in the years 2006 to 2012. Investment grants received are presented as a deduction from the original cost of its respective assets. In December 2017, the Company received approval from the Israeli Investment Center for its final performance report.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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