Note 7 – Intangible assets
Intangible assets include development expenses that were capitalized. The expenditure capitalized in respect of development activities includes the cost of materials, direct labor and overhead costs that are directly attributable to preparing the asset for its intended use. See also note 2.M.
| December 31, | |||||||||
| 2016 | 2017 | ||||||||
| Thousand NIS | Thousand NIS | ||||||||
| Balance as of January 1 | 11,355 | 26,095 | |||||||
| Capitalization of development expenses | 15,408 | - | |||||||
| Amortization | (668) | (2,676) | |||||||
| Balance as of December 31 | 26,095 | 23,419 | |||||||