RESTRICTED CASH AND TIME DEPOSITS

12 Months Ended

Dec. 31, 2014

Cash and Cash Equivalents [Abstract]

Restricted cash and time deposits consisted of the following:



	December 31, 2014		December 31, 2013
Time deposits	$	—	$	1,188
Short-term security deposits under customer contracts	—		298
Long-term deposits under employee loan programs	156		225
Long-term deposits under operating leases	—		—
Total	$	156	$	1,711

There were no time deposits as of December 31, 2014.

Included in time deposits as of December 31, 2013, was a bank deposit of $1,188, which earned interest at the rate of 2.05%. The deposit matured on October 15, 2014.

At December 31, 2014 and 2013 short-term security deposits under customer contracts included fixed amounts placed in connection with bank guarantees to secure appropriate performance by the Company. The Company estimates the probability of non-performance under these contracts as remote therefore, no provision for losses has been recognized in respect of these amounts as of December 31, 2014 and 2013.

Also included in restricted cash as of December 31, 2014 and 2013 were deposits of $156 and $225, respectively, placed in connection with certain employee loan programs (See Note 16).

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

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