Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 161

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 18
Chunk 161
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 conditions. These allowances are reevaluated and adjusted periodically as additional information is available.
 
The following table sets forth a summary of the changes in the fair value of the contingent consideration:
 
  
           Balance                 $2,091      
   as of December 31, 2023                     
-----------------------------------------------
Increase in provision                 2,027    
for expected credit losses                     
Recoveries collected                   (597   )
Amounts written off charged            (986   )
against the allowance                          
Foreign currency translation                   
Fair                                 $2,538    
value as of December 31, 2024                  
  F - 13

PERION NETWORK LTD. AND ITS SUBSIDIARIES
 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
 U.S. dollars in thousands (except share and per share data)
 
NOTE 2:  SIGNIFICANT ACCOUNTING POLICIES (Cont.)
 
  Property and equipment
 
Property and equipment are stated at cost, net of accumulated depreciation and impairment. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets at the following annual rates:

                            %  
-------------------------------
Computers                    33
and peripheral equipment       
Office                        6
furniture and equipment    - 15
   
Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful life of the improvements, whichever is shorter.

  Leases
 
The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and short-term and long-term operating lease liabilities in the Company’s consolidated balance sheets.
 
ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term.
 
The Company uses incremental borrowing rates based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made prior to commencement and lease incentives. An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain that the Company will exercise that option. An option to terminate is considered unless it is reasonably certain that the Company will not exercise the option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term.
 
The Company elected the