2022 Q4 Form 20-F Financial Statement
#000117891323001449 Filed on April 19, 2023
Income Statement
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| Revenue | $74.95M | $293.1M | $70.36M |
| YoY Change | 6.53% | 8.19% | 10.61% |
| Cost Of Revenue | $39.10M | $155.5M | $36.93M |
| YoY Change | 5.86% | 7.69% | 8.3% |
| Gross Profit | $35.85M | $137.6M | $33.43M |
| YoY Change | 7.26% | 8.76% | 13.27% |
| Gross Profit Margin | 47.84% | 46.94% | 47.51% |
| Selling, General & Admin | $15.88M | $62.03M | $15.42M |
| YoY Change | 2.94% | 6.91% | 5.2% |
| % of Gross Profit | 44.28% | 45.09% | 46.14% |
| Research & Development | $4.616M | $16.85M | $3.931M |
| YoY Change | 17.43% | 19.5% | 39.89% |
| % of Gross Profit | 12.87% | 12.25% | 11.76% |
| Depreciation & Amortization | $5.263M | $20.13M | $4.767M |
| YoY Change | 10.4% | 11.26% | 5.46% |
| % of Gross Profit | 14.68% | 14.64% | 14.26% |
| Operating Expenses | $20.55M | $78.79M | $19.25M |
| YoY Change | 6.75% | 9.63% | 10.37% |
| Operating Profit | $15.30M | $58.77M | $14.18M |
| YoY Change | 7.95% | 7.62% | 17.46% |
| Interest Expense | -$1.292M | -$5.944M | -$822.0K |
| YoY Change | 57.18% | 24.85% | -62.12% |
| % of Operating Profit | -8.44% | -10.11% | -5.8% |
| Other Income/Expense, Net | $0.00 | $0.00 | -$106.0K |
| YoY Change | -100.0% | -100.0% | -62.14% |
| Pretax Income | $14.01M | $52.83M | $13.25M |
| YoY Change | 5.76% | 7.89% | 37.72% |
| Income Tax | $3.747M | $12.75M | $2.799M |
| % Of Pretax Income | 26.74% | 24.12% | 21.13% |
| Net Earnings | $9.572M | $37.10M | $9.575M |
| YoY Change | -0.03% | 8.31% | 40.4% |
| Net Earnings / Revenue | 12.77% | 12.66% | 13.61% |
| Basic Earnings Per Share | $1.82 | ||
| Diluted Earnings Per Share | $0.47 | $1.82 | $463.7K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 20.11M shares | 20.42M shares | |
| Diluted Shares Outstanding | 20.42M shares |
Balance Sheet
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $28.17M | $28.17M | $54.71M |
| YoY Change | -48.52% | -48.52% | -30.57% |
| Cash & Equivalents | $27.85M | $27.85M | $50.31M |
| Short-Term Investments | $316.0K | $316.0K | $4.405M |
| Other Short-Term Assets | $48.16M | $48.16M | $36.98M |
| YoY Change | 30.23% | 34.28% | -4.2% |
| Inventory | $28.51M | $28.51M | $27.13M |
| Prepaid Expenses | $30.19M | $20.86M | |
| Receivables | $45.82M | $45.82M | $43.92M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $150.7M | $150.7M | $162.7M |
| YoY Change | -7.42% | -7.42% | -9.29% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $55.15M | $55.15M | $40.34M |
| YoY Change | 36.71% | 36.71% | -6.62% |
| Goodwill | $39.51M | $40.00M | |
| YoY Change | -1.22% | 0.34% | |
| Intangibles | $12.62M | $16.75M | |
| YoY Change | -24.67% | ||
| Long-Term Investments | $2.967M | $2.967M | $2.751M |
| YoY Change | 7.85% | -2.94% | 25.05% |
| Other Assets | $29.68M | $29.68M | $30.44M |
| YoY Change | -2.52% | -1.53% | 7.19% |
| Total Long-Term Assets | $139.9M | $139.9M | $130.3M |
| YoY Change | 7.4% | 7.4% | -2.11% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $150.7M | $150.7M | $162.7M |
| Total Long-Term Assets | $139.9M | $139.9M | $130.3M |
| Total Assets | $290.6M | $290.6M | $293.0M |
| YoY Change | -0.84% | -0.84% | -6.23% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $21.94M | $21.94M | $21.28M |
| YoY Change | 3.11% | 3.11% | 7.99% |
| Accrued Expenses | $11.94M | $26.43M | $2.549M |
| YoY Change | 368.3% | -12.81% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $11.85M | $206.0K | $699.0K |
| YoY Change | 1594.56% | -70.53% | |
| Long-Term Debt Due | $12.19M | $12.19M | $17.56M |
| YoY Change | -30.57% | -30.57% | -13.93% |
| Total Short-Term Liabilities | $93.28M | $93.28M | $104.6M |
| YoY Change | -10.85% | -10.85% | -7.16% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $13.17M |
| YoY Change | -100.0% | -100.0% | -61.38% |
| Other Long-Term Liabilities | $42.90M | $42.90M | $35.47M |
| YoY Change | 20.96% | 20.96% | 6.5% |
| Total Long-Term Liabilities | $42.90M | $42.90M | $48.63M |
| YoY Change | -11.79% | -11.79% | -27.84% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $93.28M | $93.28M | $104.6M |
| Total Long-Term Liabilities | $42.90M | $42.90M | $48.63M |
| Total Liabilities | $144.8M | $144.8M | $160.6M |
| YoY Change | -9.83% | -9.83% | -13.35% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $169.0M | $143.3M | |
| YoY Change | 17.94% | ||
| Common Stock | $80.34M | $80.32M | |
| YoY Change | 0.03% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $57.67M | $49.23M | |
| YoY Change | 17.15% | ||
| Treasury Stock Shares | 3.299M shares | 2.942M shares | |
| Shareholders Equity | $145.8M | $145.8M | $132.5M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $290.6M | $290.6M | $293.0M |
| YoY Change | -0.84% | -0.84% | -6.23% |
Cashflow Statement
| Concept | 2022 Q4 | 2022 | 2021 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $9.572M | $37.10M | $9.575M |
| YoY Change | -0.03% | 8.31% | 40.4% |
| Depreciation, Depletion And Amortization | $5.263M | $20.13M | $4.767M |
| YoY Change | 10.4% | 11.26% | 5.46% |
| Cash From Operating Activities | $15.91M | $45.12M | $16.04M |
| YoY Change | -0.8% | -19.13% | -2.78% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $7.747M | $26.51M | -$5.380M |
| YoY Change | -244.0% | -259.42% | 97.79% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$443.0K | -$849.0K | -$202.0K |
| YoY Change | 119.31% | -55.27% | -43.89% |
| Cash From Investing Activities | -$8.190M | -$27.35M | -$5.582M |
| YoY Change | 46.72% | 47.67% | 80.65% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | -$2.999M | -$8.445M | -$5.411M |
| YoY Change | -44.58% | 15.99% | |
| Debt Paid & Issued, Net | $16.45M | ||
| YoY Change | -30.8% | ||
| Cash From Financing Activities | -9.852M | -36.36M | -24.15M |
| YoY Change | -59.2% | -38.02% | 269.77% |
| NET CHANGE | |||
| Cash From Operating Activities | 15.91M | 45.12M | 16.04M |
| Cash From Investing Activities | -8.190M | -27.35M | -5.582M |
| Cash From Financing Activities | -9.852M | -36.36M | -24.15M |
| Net Change In Cash | -2.128M | -18.60M | -13.69M |
| YoY Change | -84.45% | -13.1% | -298.92% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $15.91M | $45.12M | $16.04M |
| Capital Expenditures | $7.747M | $26.51M | -$5.380M |
| Free Cash Flow | $8.167M | $18.61M | $21.42M |
| YoY Change | -61.88% | -74.3% | 11.46% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2022 | dei |
Security12b Title
Security12bTitle
|
Ordinary Shares, par value NIS 0.331/3 per share | |
| CY2022Q4 | us-gaap |
Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
|
15146000 | usd |
| CY2021Q4 | us-gaap |
Defined Benefit Plan Assets For Plan Benefits Noncurrent
DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
|
16205000 | usd |
| CY2022Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
3299207 | shares |
| CY2021Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2941845 | shares |
| CY2022 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
| CY2021 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
| CY2020 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
10508000 | usd |
| CY2020 | itrn |
Dividends Common Stock Stock To Minority Shareholders
DividendsCommonStockStockToMinorityShareholders
|
-3363000 | usd |
| CY2020 | us-gaap |
Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
|
750000 | usd |
| CY2021 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
241000 | usd |
| CY2022 | itrn |
Depreciation Amortization And Impairment Of Goodwill
DepreciationAmortizationAndImpairmentOfGoodwill
|
20134000 | usd |
| CY2021 | itrn |
Depreciation Amortization And Impairment Of Goodwill
DepreciationAmortizationAndImpairmentOfGoodwill
|
18096000 | usd |
| CY2020 | itrn |
Depreciation Amortization And Impairment Of Goodwill
DepreciationAmortizationAndImpairmentOfGoodwill
|
18831000 | usd |
| CY2022 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-585000 | usd |
| CY2021 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-102000 | usd |
| CY2020 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-842000 | usd |
| CY2022 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
| CY2021 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
| CY2020 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
10508000 | usd |
| CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | usd |
| CY2021 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | usd |
| CY2020 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3661000 | usd |
| CY2022 | us-gaap |
Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
|
0 | usd |
| CY2021 | us-gaap |
Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
|
0 | usd |
| CY2020 | us-gaap |
Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
|
750000 | usd |
| CY2020 | itrn |
Long Term Investments And Other Assets
LongTermInvestmentsAndOtherAssets
|
-3600000 | usd |
| CY2022 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="width:81.75pt;font-family:'Times New Roman',Times,serif"> </td> <td style="width:22.75pt;vertical-align:top;font-family:'Times New Roman',Times,serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">1.</span></span></td> <td style="width:auto;vertical-align:top;text-align:justify;font-family:'Times New Roman',Times,serif"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Operations<br/> </span></span> <div style="font-weight:normal"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Ituran Location and Control Ltd. (the “Company”) commenced operations in 1994. The Company and its subsidiaries (the “Company”) are engaged in the provision of Location based Telematics services and machine-to-machine Telematics products for use in stolen vehicle recovery, fleet management and other applications.</span></span></div> <div> </div> </div> <div> <div style="line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On September 13, 2018, the Company closed the acquisition of 81.3% of the shares of Road Track Holding S.L (Today called Ituran Spain Holdings) (“Road Track” or "Ituran Spain Holdings"), a telematics’ company operating primarily in the Latin American region.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">On September 22, 2021 the Company purchased the remaining 18.7% of shares in Ituran Spain Holdings.</span></span></div> </div> </div> </td> </tr> </table> </div> | |
| CY2022 | itrn |
Schedule Of Relevant Exchange Rates Of Us Dollar And Israeli Cpi
ScheduleOfRelevantExchangeRatesOfUsDollarAndIsraeliCpi
|
<div style="margin-left:108pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:90%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="width:54.27%;vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);font-family:'Times New Roman',Times,serif;border-top:2px solid rgb(0, 0, 0)"> </td> <td colspan="2" style="width:28.29%;vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);font-family:'Times New Roman',Times,serif;border-top:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Exchange rate<br/>of one US dollar</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);font-family:'Times New Roman',Times,serif;border-top:2px solid rgb(0, 0, 0)"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Israeli CPI<sup style="vertical-align:text-top;line-height:1;font-size:smaller">(*)</sup></span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">NIS</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Brazilian Real</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-family:'Times New Roman', serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span style="font-weight:bold">At December 31</span><span>,</span></span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2022</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.519</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.2177</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom"> <div style="text-align:center;margin-left:2.85pt;line-height:1.25;font-family:'Times New Roman', serif"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span>123.19 points</span></span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2021</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.110</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.5805</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;margin-left:2.85pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">117.03 points</span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2020</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3.215</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.1967</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;margin-left:2.85pt;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">113.84 points</span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Increase (decrease) during the year:</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255);text-align:center"> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255);text-align:center"> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255);text-align:center"> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2022</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">13.15%</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.50%)</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5.26%</span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2021</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(3.27%)</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7.39%</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.80%</span></span></div> </td> </tr> <tr> <td style="width:54.27%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2020</span></span></div> </td> <td style="width:11.62%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(6.97%)</span></span></div> </td> <td style="width:16.67%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25;text-align:center"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">28.93%</span></span></div> </td> <td style="width:17.43%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(0.69%)</span></span></div> </td> </tr> </table> </div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif;clear:both"> </div> <div style="margin-left:109pt"> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="vertical-align:top;font-family:Times New Roman, Times, serif;width:22pt"> <p><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">(*) </span></span></p> </td> <td style="vertical-align:top;text-align:justify;font-family:Times New Roman, Times, serif;width:auto"> <div><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif"><span id="FN_624609c297eccf4b9c909d47">Based on the Index for the month ending on each balance sheet date, on the basis of 2008 average.</span></span></span></div> </td> </tr> </table> </div> | |
| CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="width:81.75pt;font-family:'Times New Roman',Times,serif"> </td> <td style="width:22.75pt;vertical-align:top;font-family:'Times New Roman',Times,serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">4.</span></span></td> <td style="width:auto;vertical-align:top;text-align:justify;font-family:'Times New Roman',Times,serif"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Use of estimates in the preparation of financial statements</span></span></div> <div style="font-weight:bold"> </div> <div style="font-weight:bold"> <div style="line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the estimates.</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to legal contingencies, valuation of goodwill and other intangible assets and revenue recognition and related deferred expenses (contract costs).</span></span></div> <div style="line-height:1.25;font-weight:normal"> </div> <div style="line-height:1.25;font-weight:normal"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">As of December 31, 2021, the impact of the outbreak of COVID-19 continues to unfold. As a result, some of the Company's estimates and assumptions required increased judgment and carry a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, the Company's estimates may change materially in future periods.</span></span></div> </div> </td> </tr> </table> | |
| CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
27128000 | usd |
| CY2020 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
1900000 | usd |
| CY2022 | itrn |
Schedule Of Depreciation Rates
ScheduleOfDepreciationRates
|
<table border="0" cellpadding="0" cellspacing="0" style="width:90%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left"> <tr> <td style="width:54.54%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">%</span></span></div> </td> </tr> <tr> <td style="width:54.54%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Operating equipment (mainly 20%-33%)</span></span></div> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">6.5-33</span></span></div> </td> </tr> <tr> <td style="width:54.54%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Office furniture, equipment and computers</span></span></div> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">7-33</span></span></div> </td> </tr> <tr> <td style="width:54.54%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Buildings</span></span></div> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">2.5</span></span></div> </td> </tr> <tr> <td style="width:54.54%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Vehicles</span></span></div> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">15</span></span></div> </td> </tr> <tr> <td style="width:54.54%;vertical-align:top;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Leasehold improvements</span></span></div> </td> <td style="width:45.46%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Duration of the lease which<br/>is less or equal to useful life.</span></span></div> </td> </tr> </table> | |
| CY2022 | itrn |
Schedule Of Intangible Assets Useful Lives
ScheduleOfIntangibleAssetsUsefulLives
|
<div> <div> <div> <div style="line-height:1.25;font-family:'Times New Roman',Times,serif"> </div> <div> <div style="margin-left:108pt"> <table border="0" cellpadding="0" cellspacing="0" style="width:85%;color:#000000;font-family:'Times New Roman', Times, serif;font-size:10pt;text-align:left;float:left"> <tr> <td style="width:93%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"> </div> </td> <td style="width:7%;vertical-align:bottom;border-bottom:2px solid rgb(0, 0, 0);font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Years</span></span></div> </td> </tr> <tr> <td style="width:93%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Customer relationship</span></span></div> </td> <td style="width:7%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">3</span></span></div> </td> </tr> <tr> <td style="width:93%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Technology services</span></span></div> </td> <td style="width:7%;vertical-align:bottom;font-family:'Times New Roman',Times,serif"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5</span></span></div> </td> </tr> <tr> <td style="width:93%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Other</span></span></div> </td> <td style="width:7%;vertical-align:bottom;font-family:'Times New Roman',Times,serif;background-color:rgb(204, 238, 255)"> <div style="text-align:center;line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">5</span></span></div> </td> </tr> </table> </div> </div> </div> </div> </div> | |
| CY2020 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3700000 | usd |
| CY2022 | us-gaap |
Severance Costs1
SeveranceCosts1
|
2115000 | usd |
| CY2021 | us-gaap |
Severance Costs1
SeveranceCosts1
|
1910000 | usd |
| CY2020 | us-gaap |
Severance Costs1
SeveranceCosts1
|
1610000 | usd |
| CY2021Q3 | itrn |
Obligation To Purchase Noncontrolling Interests Percentage
ObligationToPurchaseNoncontrollingInterestsPercentage
|
0.187 | pure |
| CY2022 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="width:59.05pt;font-family:'Times New Roman',Times,serif"> </td> <td style="width:22.7pt;vertical-align:top;font-family:'Times New Roman',Times,serif;font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">AA.</span></span></td> <td style="width:auto;vertical-align:top;text-align:justify;font-family:'Times New Roman',Times,serif"> <div style="font-weight:bold"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Reclassification</span></span></div> </td> </tr> </table> <div> </div> <div> <table cellpadding="0" cellspacing="0" style="font-family:'Times New Roman', Times, serif;font-size:10pt;width:100%;text-align:left;color:#000000"> <tr> <td style="width:59.05pt;font-family:'Times New Roman',Times,serif"> </td> <td style="width:22.7pt;vertical-align:top;font-family:'Times New Roman',Times,serif;font-weight:bold"> </td> <td style="width:auto;vertical-align:top;text-align:justify;font-family:'Times New Roman',Times,serif"> <div style="font-weight:bold"> <div style="line-height:1.25;font-weight:normal"> <div style="line-height:1.25"><span style="font-size:10pt"><span style="font-family:Times New Roman,Times,serif">Certain comparative figures have been reclassified to conform to the current year presentation. Such reclassifications did not have any significant impact on the Company's equity, net income or cash flows.</span></span></div> </div> </div> </td> </tr> <tr> <td style="width:59.05pt;font-family:'Times New Roman',Times,serif"> </td> <td style="width:22.7pt;vertical-align:top;font-family:'Times New Roman',Times,serif;font-weight:bold"> </td> <td style="width:auto;vertical-align:top;text-align:justify;font-family:'Times New Roman',Times,serif"> </td> </tr> </table> </div> </div> | |
| CY2022Q4 | us-gaap |
Due From Employees Current
DueFromEmployeesCurrent
|
375000 | usd |
| CY2021Q4 | us-gaap |
Due From Employees Current
DueFromEmployeesCurrent
|
309000 | usd |
| CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
16894000 | usd |
| CY2021Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
14156000 | usd |
| CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
11615000 | usd |
| CY2021Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
12972000 | usd |
| CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
28509000 | usd |
| CY2022Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
1793000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
9905000 | usd |
| CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
3292000 | usd |
| CY2020 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3661000 | usd |
| CY2021 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | usd |
| CY2022Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
29890000 | usd |
| CY2021Q4 | us-gaap |
Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
|
29890000 | usd |
| CY2020Q2 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
10500000 | usd |
| CY2020Q2 | itrn |
Significant Assumptions Term
SignificantAssumptionsTerm
|
P3Y6M | |
| CY2020Q2 | itrn |
Significant Assumptions Discount Rate
SignificantAssumptionsDiscountRate
|
0.175 | pure |
| CY2020Q2 | itrn |
Significant Assumptions Growth Rate
SignificantAssumptionsGrowthRate
|
0.005 | pure |
| CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
11639000 | usd |
| CY2021Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
17558000 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
139000 | usd |
| CY2022Q4 | itrn |
Operating Leases Future Minimum Payments Due Current1
OperatingLeasesFutureMinimumPaymentsDueCurrent1
|
3300000 | usd |
| CY2022Q4 | itrn |
Operating Leases Future Minimum Payments Due In Two Years1
OperatingLeasesFutureMinimumPaymentsDueInTwoYears1
|
2200000 | usd |
| CY2022Q4 | itrn |
Operating Leases Future Minimum Payments Due In Three Years1
OperatingLeasesFutureMinimumPaymentsDueInThreeYears1
|
1500000 | usd |
| CY2019 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
227828 | shares |
| CY2019 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
6000000 | usd |
| CY2022Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
3299207 | shares |
| CY2022 | us-gaap |
Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
|
-3860000 | usd |
| CY2021 | us-gaap |
Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
|
-2387000 | usd |
| CY2020 | us-gaap |
Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
|
4375000 | usd |
| CY2020 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
27831000 | usd |
| CY2020 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
10508000 | usd |
| CY2020 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
3661000 | usd |
| CY2020 | itrn |
Telematics Services Revenue
TelematicsServicesRevenue
|
182944000 | usd |
| CY2020 | itrn |
Telematics Products Revenue
TelematicsProductsRevenue
|
62683000 | usd |
| CY2020 | us-gaap |
Revenues
Revenues
|
245627000 | usd |
