XML 62 R45.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments In Affiliated Companies, Partnerships And Other Companies (Tables)
 12 Months Ended
Dec. 31, 2017
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]  
Investments In Affiliated Companies
 
December 31,
 
2017
 
2016
Companies accounted for under the equity method and the fair value method
$
164,761

 
$
173,396

Companies accounted for on a cost basis
7,577

 
7,566

 
$
172,338

 
$
180,962
Investments In Companies Accounted For Under The Equity Method
 
December 31,
 
2017
 
2016
Company A (1)
$
65,799

 
$
65,594

Company B (2)
21,708

 
19,974

Company C (3)
—

 
11,881

Company D (4)
15,000

 
19,120

Company E (5)
18,003

 
18,003

Company F (6)
27,927

 
25,707

Company G (7)
5,114

 
5,107

Other
11,210

 
8,010

 
$
164,761

 
$
173,396

 
(1)
Company A is an Israeli partnership, held 50% by the Company and 50% by Rafael Advanced Defense Systems Ltd. (“Rafael”). Company A is engaged in the development and production of various thermal detectors and laser diodes. Company A is jointly controlled and therefore is not consolidated in the Company’s financial statements. During 2017 and 2016, the Company received dividends in the amount of $9,374 and $2,140, respectively from Company A.
Note 6 -    INVESTMENTS IN AFFILIATED COMPANIES, PARTNERSHIPS AND OTHER COMPANIES (Cont.)

B.
INVESTMENT IN COMPANIES ACCOUNTED FOR UNDER THE EQUITY METHOD AND THE FAIR VALUE METHOD (Cont.):

(2)
Company B is an Israeli company owned 50.00001% by the Company and 49.99999% by Rafael. Company B focuses mainly on commercial applications of thermal imaging and electro-optic technologies. The Company jointly controls Company B with Rafael, and therefore Company B is not consolidated in the Company’s financial statements.

(3)
Company C is a Romanian company that was held 40% by the Company. Company C is engaged in the construction of fiber optic-telecommunication networks in Romania. During 2016, the Company wrote off $2,500 of its investment in Company C. During 2017, the Company sold all of its holding in Company C, for a consideration of approximately $12,000.

(4)
Company D is a European company held 33% by the Company. During 2015, the Company, through a wholly-owned Israeli subsidiary, invested approximately $20,000 in Company D, which is engaged in the area of composite aerostructure parts manufacturing for commercial aircraft.
Schedule Of Equity In Net Earnings Of Affiliated Companies Equity in net earnings (losses) of affiliated companies and partnerships is as follows:
 
Year ended December 31,
 
2017
 
2016
 
2015
Company A
$
9,579

 
$
6,157

 
$
3,948

Company B
1,734

 
2,047

 
2,284

Company F
6,427

 
4,253

 
—

Company D
(4,129
)
 
(872
)
 
—

Other (*)
(2,250
)
 
(6,361
)
 
(1,690
)
 
$
11,361

 
$
5,224

 
$
4,542
Balance Sheet Information The summarized aggregate financial information of companies accounted for under the equity method and the fair value method is as follows:

Balance Sheet Information:
 
December 31,
 
2017
 
2016
Current assets
$
542,600

 
$
452,343

Non-current assets
117,438

 
145,346

Total assets
$
660,038

 
$
597,689

 
 
 
 
Current liabilities
$
161,414

 
$
168,352

Non-current liabilities
223,253

 
103,656

Shareholders' equity
275,371

 
325,681

Total liabilities and equity
$
660,038

 
$
597,689
Income Statement Information Income Statement Information:
 
Year ended December 31,
 
2017
 
2016
 
2015
Revenues
$
466,349

 
$
424,045

 
$
250,499

Gross profit
$
101,242

 
$
83,266

 
$
67,747

Net income
$
10,338

 
$
21,252

 
$
13,920


See Note 20(E) for guarantees.