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FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2022

NOTE 8:-FAIR VALUE MEASUREMENTS

In accordance with ASC 820, the Group measures its foreign currency derivative instruments and marketable securities, at fair value. Investments in foreign currency derivative instruments and marketable securities are classified within Level 2 of the fair value hierarchy. This is because these assets (liabilities) are valued using alternative pricing sources and models utilizing market observable inputs.

The Group’s financial assets and liabilities measured at fair value on a recurring basis, consisted of the following types of instruments as of the following dates:


	December 31, 2022
	Fair value measurements
	using input type
	Level 2		Total		NAV		Total
Marketable securities	$	78,066	$	78,066	$	—	$	—
Financial investments		—		—		16,500		16,500
Financial assets related to foreign currency derivative hedging contracts		(5,143)		(5,143)		—		—

Total financial net assets as of December 31, 2022	$	72,923	$	72,923	$	16,500	$	16,500


	December 31, 2021
	Fair value measurements
	using input type
	Level 2		Total

Marketable securities	$	89,976	$	89,976
Financial assets related to foreign currency derivative hedging contracts		812		812

Total financial net assets as of December 31, 2021	$	90,788	$	90,788


	December 31,2022
				Redemption
			Redemption	Notice
	Fair Value		Frequency	Period
Financial Investments:
Secured Bridge Loans Fund	$	15,258	Monthly (Eligible)	90 days
Secured Bridge Loans Fund		1,242	—	—
	$	16,500

This class includes several Secured Bridge Loans Funds that offer short-term loans to various companies which are mostly secured by real-estate assets. The fair values of the investments in this class have been estimated using the net asset value ("NAV") of the Company's ownership interest in partners' capital. Almost all investments funds (except one) can be redeemed by the investees after 12 months from the investment date and upon 90 days’ advance notice.

There is one investment in equity fund which is locked-up until its maturity after five years from investment date. Gains from the financial investments amounted to $937 for the year ended December 31, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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