CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Cash flows from operating activities: | |||
Net income | $ 16,566us-gaap_ProfitLoss | $ 16,856us-gaap_ProfitLoss | $ 16,460us-gaap_ProfitLoss |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 8,660us-gaap_DepreciationAndAmortization | 8,380us-gaap_DepreciationAndAmortization | 7,444us-gaap_DepreciationAndAmortization |
Interest expenses related to liabilities in connection with acquisitions | 0us-gaap_InterestAndDebtExpense | 0us-gaap_InterestAndDebtExpense | 48us-gaap_InterestAndDebtExpense |
Accrued severance pay, net | 0us-gaap_SeveranceCosts1 | 0us-gaap_SeveranceCosts1 | 8us-gaap_SeveranceCosts1 |
Loss on sale of property and equipment | 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment | 10us-gaap_GainLossOnSaleOfPropertyPlantEquipment | 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment |
Stock-based compensation expenses | 1,557us-gaap_ShareBasedCompensation | 325us-gaap_ShareBasedCompensation | 515us-gaap_ShareBasedCompensation |
Amortization of marketable securities premium, accretion of discount | 62us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments | 0us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments | 0us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments |
Gain on sale of subsidiary's operation | 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary | 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary | (136)us-gaap_GainOrLossOnSaleOfStockInSubsidiary |
Decrease (increase) in trade receivables, net | (9,378)us-gaap_IncreaseDecreaseInAccountsReceivable | 473us-gaap_IncreaseDecreaseInAccountsReceivable | 11us-gaap_IncreaseDecreaseInAccountsReceivable |
Decrease (increase) in other long term and short term accounts receivable and prepaid expenses | (23)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (397)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 145us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Increase in trade payables | (342)us-gaap_IncreaseDecreaseInAccountsPayableTrade | (700)us-gaap_IncreaseDecreaseInAccountsPayableTrade | 780us-gaap_IncreaseDecreaseInAccountsPayableTrade |
Increase (decrease) in accrued expenses and other accounts payable | (303)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities | (1,589)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities | (2,279)us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities |
Increase (decrease) in deferred revenues | 191us-gaap_IncreaseDecreaseInDeferredRevenue | (1,765)us-gaap_IncreaseDecreaseInDeferredRevenue | (1,131)us-gaap_IncreaseDecreaseInDeferredRevenue |
Change in deferred income taxes, net | 1,204us-gaap_IncreaseDecreaseInDeferredIncomeTaxes | 687us-gaap_IncreaseDecreaseInDeferredIncomeTaxes | 1,083us-gaap_IncreaseDecreaseInDeferredIncomeTaxes |
Net cash provided by operating activities | 18,194us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 22,280us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 22,948us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Cash flows from investing activities: | |||
Capitalized software development costs | (4,267)us-gaap_PaymentsToDevelopSoftware | (4,713)us-gaap_PaymentsToDevelopSoftware | (4,969)us-gaap_PaymentsToDevelopSoftware |
Purchase of property and equipment | (993)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (497)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (510)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Cash paid in conjunction with acquisitions, net of acquired cash | (9,363)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (16,557)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (7,627)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
Proceeds from sale of subsidiary's operation | 0us-gaap_ProceedsFromDivestitureOfBusinesses | 0us-gaap_ProceedsFromDivestitureOfBusinesses | 136us-gaap_ProceedsFromDivestitureOfBusinesses |
Proceeds from sale of property and equipment | 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | 60us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment |
Proceeds from maturity of marketable securities | 596us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities | 0us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities | 343us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities |
Proceeds from short-term bank deposits | 0us-gaap_ProceedsFromOtherDeposits | 0us-gaap_ProceedsFromOtherDeposits | 3,601us-gaap_ProceedsFromOtherDeposits |
Change in loans to employees and other deposits ,net | (58)us-gaap_PaymentsForOtherDeposits | 0us-gaap_PaymentsForOtherDeposits | (34)us-gaap_PaymentsForOtherDeposits |
Investment in marketable securities | (11,976)us-gaap_PaymentsToAcquireMarketableSecurities | 0us-gaap_PaymentsToAcquireMarketableSecurities | 0us-gaap_PaymentsToAcquireMarketableSecurities |
Investment in short-term bank deposit | 0us-gaap_PaymentsToAcquireShortTermInvestments | 0us-gaap_PaymentsToAcquireShortTermInvestments | (1,366)us-gaap_PaymentsToAcquireShortTermInvestments |
Net cash used in investing activities | (26,061)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (21,707)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (10,426)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
Cash flows from financing activities: | |||
Proceeds from exercise of options by employees | 204us-gaap_ProceedsFromStockOptionsExercised | 1,462us-gaap_ProceedsFromStockOptionsExercised | 309us-gaap_ProceedsFromStockOptionsExercised |
Issuance of Ordinary shares, net | 54,726us-gaap_ProceedsFromIssuanceOfCommonStock | 0us-gaap_ProceedsFromIssuanceOfCommonStock | 0us-gaap_ProceedsFromIssuanceOfCommonStock |
Dividend paid | (8,681)us-gaap_PaymentsOfDividends | (7,787)us-gaap_PaymentsOfDividends | (3,661)us-gaap_PaymentsOfDividends |
Short-term credit, net | 2,974us-gaap_ProceedsFromRepaymentsOfShortTermDebt | (47)us-gaap_ProceedsFromRepaymentsOfShortTermDebt | 14us-gaap_ProceedsFromRepaymentsOfShortTermDebt |
Purchase of non-controlling interest | 0us-gaap_PaymentsToMinorityShareholders | (168)us-gaap_PaymentsToMinorityShareholders | (87)us-gaap_PaymentsToMinorityShareholders |
Long term loan received | 0us-gaap_ProceedsFromIssuanceOfLongTermDebt | 3,307us-gaap_ProceedsFromIssuanceOfLongTermDebt | 0us-gaap_ProceedsFromIssuanceOfLongTermDebt |
Repayment of long-term loans | (2,905)us-gaap_RepaymentsOfLongTermDebt | (95)us-gaap_RepaymentsOfLongTermDebt | 0us-gaap_RepaymentsOfLongTermDebt |
Net cash used in financing activities | 46,318us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | (3,328)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | (3,425)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
Effect of exchange rate changes on cash and cash equivalents | (1,070)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | 145us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (64)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
Increase (decrease) in cash and cash equivalents | 37,381us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (2,610)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 9,033us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash and cash equivalents at the beginning of the year | 35,134us-gaap_CashAndCashEquivalentsAtCarryingValue | 37,744us-gaap_CashAndCashEquivalentsAtCarryingValue | 28,711us-gaap_CashAndCashEquivalentsAtCarryingValue |
Cash and cash equivalents at end of the year | 72,515us-gaap_CashAndCashEquivalentsAtCarryingValue | 35,134us-gaap_CashAndCashEquivalentsAtCarryingValue | 37,744us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplementary information on investing and financing activities not involving cash flows: | |||
Deferred acquisition payment | 250mgic_DeferredPayment | 1,581mgic_DeferredPayment | 3,103mgic_DeferredPayment |
Contingent acquisition payment | 0mgic_ContingentPayment | 3,981mgic_ContingentPayment | 1,192mgic_ContingentPayment |
Supplemental disclosure of cash flow activities: | |||
Income taxes | 1,601us-gaap_IncomeTaxesPaid | 1,519us-gaap_IncomeTaxesPaid | 1,250us-gaap_IncomeTaxesPaid |
Interest | $ 74us-gaap_InterestPaid | $ 34us-gaap_InterestPaid | $ 17us-gaap_InterestPaid |
X | ||||||||||
- Definition
The aggregate amount of contingent expenses paid, during the period as part of non cash investing and financing activities. No definition available.
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- Definition
The aggregate amount of debt incurred, during the period as part of non cash investing and financing activities. No definition available.
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- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes 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. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes 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. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of equity in securities of subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other obligations or expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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X | ||||||||||
- Definition
Cash outflow related to other deposits not otherwise defined in the taxonomy. No definition available.
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X | ||||||||||
- Definition
Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Cash outflow for purchase of trading, available-for-sale securities and held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the development or modification of software programs or applications for internal use (that is, not to be sold, leased or otherwise marketed to others) that qualify for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Excludes dividends paid to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash inflow related to receipts of other deposits not otherwise defined in the taxonomy. No definition available.
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X | ||||||||||
- Definition
The net cash inflow or outflow for borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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