PROPERTY, PLANT AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 7:       PROPERTY, PLANT AND EQUIPMENT, NET

	September 30,  2024		December 31,  2023
Cost:
Land	$	10,112	$	12,823
Buildings and plants		122,437		153,813
Computers and peripheral equipment		51,978		57,527
Office furniture and equipment		9,149		10,992
Laboratory and testing equipment		63,921		67,248
Machinery and equipment		194,534		362,363
Leasehold improvements		112,019		96,730
Assets under construction and payments on account		46,656		88,077
Gross property, plant and equipment		610,806		849,573
Less - accumulated depreciation		186,901		234,994
Total property, plant and equipment, net	$	423,905	$	614,579

The Company evaluates the recoverability of the carrying amount of its property, plant and equipment when events or circumstances indicate the carrying amount of an asset or asset group may not be recoverable. If the Company determines the carrying amount of an asset or asset group is not recoverable based upon the expected undiscounted future cash flows of the asset or asset group, an impairment loss is recorded equal to the excess of the carrying amounts over the estimated fair values of the property, plant and equipment.

During the third quarter of 2024, the Company identified certain conditions in which, events or changes in circumstances indicated that the carrying value of certain long-lived assets may not be recoverable and as a result conducted impairment assessments.

Upon completion of such assessments, the Company disposed by abandonment and impaired certain property, plants and equipment, including but not limited to, machinery, buildings, plants, and assets under construction in the Solar and Energy Storage asset groups.

During the three and nine months ended September 30, 2024, the Company recorded impairment and abandonment by disposal of property, plant and equipment in the amount of $204,888 and $206,620, respectively, under Other operating expense (income), net in the consolidated statements of income (loss) section.

Depreciation expenses for the three months ended September 30, 2024 and 2023, were $13,965 and $12,627, respectively.

Depreciation expenses for the nine months ended September 30, 2024, and 2023, were $40,464 and $36,118, respectively.