RETALIX LTD.

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RETALIX LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) NOTE 13 – DERIVATIVES AND OTHER FINANCIAL INSTRUMENTS (continued): The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: 1) The carrying amount of cash and cash equivalents, trade receivables and trade payables approximates their fair values due to the short-term maturities of these instruments. 2) The fair value of short and long-term marketable securities and bank deposits with quoted market prices is based on quoted market prices. 3) The fair value of derivative instruments is estimated by obtaining quotes from brokers. As to the fair value of derivatives, see c. below. As to the fair value of marketable securities, see note12b. c. Derivative financial instruments: NOTE 14 – SEGMENT INFORMATION: The Company has only limited involvement with derivative financial instruments. The Company carries out transactions involving foreign exchange derivative financial instruments (forward exchange contracts). These transactions do not qualify for hedge accounting under FAS 133. During 2005, the Company entered into four foreign currencies forward contracts for conversion of Pounds Sterling, Euro, Australian dollar and Israeli currency into a notional amount in dollars of approximately $ 5,400,000. These contracts were rolled over a few times during 2004 and are still outstanding as of December 31, 2005. The fair value of the open contracts as of December 31, 2005 is $71,000 and reflects the estimated amounts that the Group would pay to terminate the contracts at the reporting date, which was charged to financial expenses. a. The Company conducts business globally and is managed geographically. The Company and its subsidiaries reportable segments are strategic business units, which are distinguished by the geographical areas in which they generate revenues, based on the location of customers. The Company evaluates performance based on the revenues presented for each geographical segment. Segment assets information is not given, since the Company does not evaluate performance based on such assets. Based on the criteria above, the Company has the following reportable segments: Israel, U.S. and International. F-45
NOTE 14 – SEGMENT INFORMATION (continued): Geographic segments: RETALIX LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) Summarized financial information by geographic segment, for 2005, 2004 and 2003 is as follows: F-46 Year ended December 31 2005 2004 2003 U.S. $ in thousands Revenues: U.S. 98,385 79,678 62,621 Israel 13,800 11,533 11,559 International* 75,186 31,743 17,877 Total revenues 187,371 122,954 92,057 * The international segment includes revenues from customers in Europe 50,532 22,769 13,681 b. Enterprise-wide disclosure: The composition of the Group’s property, plant and equipment according to the physical location of the assets is as follows: Depreciated balance at December 31 2005 2004 U.S. $ in thousands Israel 8,000 7,579 U.S. 3,786 2,505 International 525 323 As for goodwill, see note 4a. c. Revenues from customer exceeding 10% of total revenues: 12,311 10,407 In the year ended December 31, 2005, one customer generated revenues in excess of 10% of the Group’s total revenues. In the years ended December 31, 2004, and 2003 no customer generated revenues in excess of 10% of the Group’s total revenues.
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UNITED STATES SECURITIES AND EXCHAN
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PART I TABLE OF CONTENTS Item 1. ID
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PART II PART III G. Statement by Ex
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ITEM 3 - KEY INFORMATION A. Selecte
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the uncertainty regarding the adopt
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changing customer needs; and frequ
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If we are unsuccessful in establish
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Antitrust scrutiny of e-marketplace
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The dollar cost of our operations i
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It could be difficult to enforce a
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ITEM 4 - INFORMATION ON THE COMPANY
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Our Market Opportunity The customer
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Our solutions provide for both reta
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Leverage our integrated suite of pr
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Enterprise Headquarters Solutions:
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Retalix HQC - Retalix HQ for C-Stor
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• Ordering, receiving • Load ba
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StoreLine.net StoreLine.net is a th
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create and sustain customer interes
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The Retalix InSync Solution Portfol
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Customers Our software has been dep
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Direct Sales Our direct sales force
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ITEM 5 - OPERATING AND FINANCIAL RE
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The following table shows the impac
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Revenues from on-line application,
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Product Sales Product sales primari
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Gain Arising from Issuance of Share
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The increase in cost of product sal
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SFAS No. 154. In May 2005, the FASB
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The following table presents inform
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D. Trend Information Trends we iden
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Yoni Stutzen has served as our Exec
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The Companies Law and Nasdaq listin
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D. Employees Set forth are tables p
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Options granted under our Second 19
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ITEM 7 - MAJOR SHAREHOLDERS AND REL
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PalmPoint In December 2002, a legal
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The following table sets forth, for
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The oversight of the management of
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A quorum in a general meeting consi
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In addition, provisions of the Comp
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The amount of a distribution with r
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Backup Withholding A U.S. holder ma
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The benefits available to an approv
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Generally, up until the 2006 tax ye
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The table below presents principal
Page 96 and 97: ITEM 15 - CONTROLS AND PROCEDURES P
Page 98 and 99: Our audit committee has adopted a p
Page 100 and 101: SIGNATURES The registrant hereby ce
Page 102 and 103: REPORT OF INDEPENDENT REGISTERED PU
Page 104 and 105: RETALIX LTD. CONSOLIDATED BALANCE S
Page 106 and 107: RETALIX LTD. STATEMENTS OF CHANGES
Page 108 and 109: RETALIX LTD. CONSOLIDATED STATEMENT
Page 110 and 111: RETALIX LTD. CONSOLIDATED STATEMENT
Page 112 and 113: NOTE 1 - SIGNIFICANT ACCOUNTING POL
Page 114 and 115: RETALIX LTD NOTES TO CONSOLIDATED F
Page 116 and 117: RETALIX LTD. NOTES TO CONSOLIDATED
Page 122 and 123: NOTE 2 - ACQUISITIONS (continued):
Page 124 and 125: NOTE 2 - ACQUISITIONS (continued):
Page 126 and 127: NOTE 4 - GOODWILL AND OTHER INTANGI
Page 128 and 129: NOTE 6 - OTHER LIABILITIES: RETALIX
Page 134 and 135: NOTE 9 - SHAREHOLDERS’ EQUITY (co
Page 136 and 137: NOTE 9 - SHAREHOLDERS’ EQUITY (co
Page 138 and 139: NOTE 10 - TAXES ON INCOME (continue
Page 148 and 149: NOTE 15 - SELECTED INCOME STATEMENT
Page 150 and 151: RETALIX LTD. REPORT OF INDEPENDENT
Page 152 and 153: Report of Independent Registered Pu
Page 154 and 155: I, Barry Shaked, certify that: File
Page 156 and 157: I, Danny Moshaioff, certify that: F
Page 158 and 159: Certification Pursuant to Section 9
Page 160 and 161: Consent of Independent Registered P
Page 162: Retalix Holdings, Inc. Plano, Texas
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RETALIX LTD.

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