PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 6 - PROPERTY AND EQUIPMENT, NET

A. Property and equipment, net consists of the following:

	US dollars
	December 31,
(in thousands)	2023			2022
Cost:
Operating equipment (*)		59,263			56,070
Office furniture, equipment and computers		53,490			49,629
Land		1,684			1,667
Buildings		5,429			5,492
Vehicles		11,023			9,829
Leasehold improvements		9,776			9,042
		140,665			131,729
Less – accumulated depreciation (**)		(98,710	)		(86,131	)
Total property and equipment, net		41,955			45,598

(*) As of December 31, 2023 and 2022, an amount of US$ 40.9 million and US$ 38.1 million is subject to operating lease transactions, respectively.

(**) As of December 31, 2023 and 2022, an amount of US$ 21.9 million and US$ 22.6 million is subject to operating lease transactions, respectively.

B. During the years ended December 31, 2023, 2022 and 2021, depreciation expenses were US$ 15.8 million, US$ 13.9 million and US$ 12.3 million, respectively and additional property and equipment was purchased in an amount of US$ 10.7 million, US$ 23.9 million and US$ 13.7 million, respectively.