Fair Value Measurements

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 11—FAIR VALUE MEASUREMENTS

Financial items measured at fair value are classified in the table below in accordance with the hierarchy established in applicable accounting principles.

	As of September 30, 2016
	Level 1		Level 2		Level 3		Total
Escrow deposits – continuing operations	$	579	$	—	$	—	$	579
Escrow deposits – discontinued operations (see Note 4(a))	$	100	$	—	$	—	$	100
Total	$	679	$	—	$	—	$	679

	As of December 31, 2015
	Level 1			Level 2		Level 3		Total
Restricted deposits – current	$	2,172		$	—	$	—	$	2,172
Restricted deposits –non-current		2,951			—		—		2,951
Derivative liabilities		(4	)		—		—		(4	)
Total	$	5,119		$	—	$	—	$	5,119

Escrow deposits relate to escrow requirements from the DSIT Transaction (see Note 3).

Restricted deposits (both current and non-current) and derivative liabilities at December 31, 2015 were all related to DSIT. Following the closing of the DSIT Transaction (see Note 3), the Company no longer consolidates the results of DSIT, but rather reports its investment in DSIT using the equity method. Accordingly, the Company eliminated these financial items as part of the deconsolidation of DSIT.

Level 1 derivative assets and liabilities are related to forward contracts for the purchase of New Israeli Shekels for which market prices were readily available. Unrealized gains or losses from forward contracts are recorded in Finance income (expense), net.

See Note 3 for the determination of the fair value of the Company’s equity investment in DSIT.