Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Components of Company's Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities as of December 31, 2016 and 2015 were as follows:

      December 31,       December 31,
2016 2015
(U.S. $ in thousands)
Deferred tax assets
       Tax losses carry forwards $       139,914 $       87,718
       Inventory related 12,124 18,317
       Intangibles assets 38,379 31,890
       Provision for employee related obligations 3,568 7,672
       Stock-based compensation expense 6,040 6,214
       Deferred revenue 3,211 3,344
       Depreciation 1,140 1,994
       Allowance for doubtful accounts 645 776
       Foreign currency losses 587 -
       Research and development credit carry forwards 9,998 8,355
       Other items 1,560 2,223
              Gross deferred tax assets 217,166 168,503
       Valuation allowance (201,376 ) (152,115 )
              Total deferred tax assets $ 15,790 $ 16,388
 
Deferred tax liabilities
       Intangibles assets $ (17,053 ) $ (28,387 )
       Foreign currency losses - (450 )
       Depreciation (2,662 ) (1,852 )
              Total deferred tax liabilities $ (19,715 ) $ (30,689 )
       Net deferred tax liabilities $ (3,925 ) $ (14,301 )
Schedule of Deferred Tax Assets and Liabilities Classified in Consolidated Balance Sheets

The Company’s deferred tax assets and liabilities are classified in the consolidated balance sheets as follows:

      December 31,       December 31,
2016 2015
(U.S. $ in thousands)
Deferred tax assets (under "Other non-current assets") $             2,027 $          1,739
Deferred tax liabilities 5,952 16,040
Net deferred tax liabilities $ (3,925 ) $ (14,301 )
Schedule of loss before Income Taxes

Loss before income taxes for the years ended December 31, 2016, 2015 and 2014 was as follows:

      2016       2015       2014
(U.S. $ in thousands)
Domestic $      (11,783 ) $      (635,721 ) $      25,903
Foreign (74,576 ) (748,110 ) (180,621 )
$ (86,359 ) $ (1,383,831 ) $ (154,718 )
Schedule of Components of Income Taxes

The components of income taxes for the years ended December 31, 2016, 2015 and 2014 were as follows:

      2016       2015       2014
(U.S. $ in thousands)
Current
       Domestic $      6,242 $      4,564 $      10,650
       Foreign (5,310 ) 8,304 7,989
932 12,868 18,639
Deferred
       Domestic (9,851 ) (18,607 ) (5,177 )
       Foreign (527 ) (4,581 ) (48,710 )
(10,378 ) (23,188 ) (53,887 )
       Total income taxes $ (9,446 ) $ (10,320 ) $ (35,248 )
Schedule of Reconciliation of Income Tax Rate

A reconciliation of the statutory income tax rate and the effective tax rate for the years ended December 31, 2016, 2015, and 2014 is set forth below:

      2016       2015       2014
Statutory tax rate 25.0 % 26.5 % 26.5 %
Approved and Privileged enterprise benefits 7.0 (0.4 ) 3.7
Goodwill impairment - (15.3 ) (17.3 )
Revaluation of obligations in connection with acquisitions - 0.2 3.1
Stock compensation expense (2.4 ) (0.4 ) (3.7 )
Tax contingencies (4.7 ) (0.3 ) 1.6
Non-deductible acquisition expenses (0.2 ) (0.1 ) (0.1 )
Earning taxed under foreign law 34.4 1.4 9.6
Valuation allowance (57.0 ) (11.0 ) -
Changes to the prior year’s tax assessment 7.9 - -
Other 0.9 0.1 (0.6 )
Effective income tax rate 10.9 % 0.7 % 22.8 %
Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:

      2016       2015       2014
(U.S. $ in thousands)
Balance at beginning of year $      13,930 $      8,552 $      10,346
Additions for tax positions related to the current year 4,039 4,116 2,705
Additions for tax positions related to previous years 129 1,987 734
Reduction of reserve for statute expirations (98 ) (725 ) (5,233 )
Balance at end of year $ 18,000 $ 13,930 $ 8,552