Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| 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, 2019 and 2018 were as follows:
|
|
|
December 31, |
|
December 31, |
|
|
|
2019 |
|
2018 |
|
|
|
(U.S. $ in thousands) |
|
Deferred tax assets |
|
|
|
|
|
|
|
|
|
Tax losses carry forwards |
|
$ |
113,419 |
|
|
$ |
111,196 |
|
|
Inventory related |
|
|
2,538 |
|
|
|
2,603 |
|
|
Intangibles assets |
|
|
16,628 |
|
|
|
23,434 |
|
|
Provision for employee related obligations |
|
|
984 |
|
|
|
1,169 |
|
|
Stock-based compensation expense |
|
|
6,936 |
|
|
|
5,565 |
|
|
Deferred revenue |
|
|
1,592 |
|
|
|
2,547 |
|
|
Property, plant and equipment |
|
|
1,063 |
|
|
|
1,171 |
|
|
Allowance for doubtful accounts |
|
|
217 |
|
|
|
609 |
|
|
Foreign currency losses |
|
|
12 |
|
|
|
364 |
|
|
Research and development credit carry forwards |
|
|
16,239 |
|
|
|
13,520 |
|
|
Other items |
|
|
3,148 |
|
|
|
2,033 |
|
|
Gross deferred tax assets |
|
|
162,776 |
|
|
|
164,211 |
|
|
Valuation allowance |
|
|
(151,771 |
) |
|
|
(152,659 |
) |
|
Total deferred tax assets |
|
$ |
11,005 |
|
|
$ |
11,552 |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
|
Intangibles assets |
|
$ |
(7,245 |
) |
|
$ |
(9,140 |
) |
|
Property, plant and equipment |
|
|
(1,683 |
) |
|
|
(2,736 |
) |
|
Total deferred tax liabilities |
|
$ |
(8,928 |
) |
|
$ |
(11,876 |
) |
|
Net deferred tax liabilities |
|
$ |
2,077 |
|
|
$ |
(324 |
)
|
|
| 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, |
|
|
|
2019 |
|
2018 |
|
|
|
(U.S. $ in thousands) |
|
Deferred tax assets (under "Other non-current assets") |
|
$ |
2,118 |
|
|
$ |
1,338 |
|
|
Deferred tax liabilities |
|
|
41 |
|
|
|
1,662 |
|
|
Net deferred tax asset (liabilities) |
|
$ |
2,077 |
|
|
$ |
(324 |
)
|
|
| Schedule of loss before Income Taxes |
Loss before income taxes for the years ended December 31, 2019, 2018 and 2017 was as follows:
|
|
|
2019 |
|
2018 |
|
2017 |
|
|
|
(U.S. $ in thousands) |
|
Domestic |
|
$ |
(11,895 |
) |
|
$ |
(17,848 |
) |
|
$ |
(98 |
) |
|
Foreign |
|
|
4,751 |
|
|
|
9,634 |
|
|
|
(29,378 |
) |
|
|
|
$ |
(7,144 |
) |
|
$ |
(8,214 |
) |
|
$ |
(29,476 |
)
|
|
| Schedule of Components of Income Taxes |
The components of income taxes for the years ended December 31, 2019, 2018 and 2017 were as follows:
|
|
|
2019 |
|
2018 |
|
2017 |
|
|
|
(U.S. $ in thousands) |
|
Current |
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic |
|
$ |
3,392 |
|
|
$ |
(722 |
) |
|
$ |
10,574 |
|
|
Foreign |
|
|
2,524 |
|
|
|
9,414 |
|
|
|
1,248 |
|
|
|
|
|
5,916 |
|
|
|
8,692 |
|
|
|
11,822 |
|
|
|
|
Deferred |
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic |
|
|
(2,007 |
) |
|
|
(3,169 |
) |
|
|
(4,497 |
) |
|
Foreign |
|
|
(386 |
) |
|
|
(787 |
) |
|
|
1,948 |
|
|
|
|
|
(2,393 |
) |
|
|
(3,956 |
) |
|
|
(2,549 |
) |
|
Total income taxes |
|
$ |
3,523 |
|
|
$ |
4,736 |
|
|
$ |
9,273 |
|
|
| 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, 2019, 2018 and 2017 is set forth below:
|
|
|
2019 |
|
2018 |
|
2017 |
|
Statutory tax rate |
|
23.0 |
% |
|
23.0 |
% |
|
24.0 |
% |
|
Approved and Privileged enterprise benefits |
|
18.0 |
|
|
16.0 |
|
|
15.7 |
|
|
US Tax Act enactment |
|
— |
|
|
— |
|
|
(222.5 |
) |
|
Stock compensation expense |
|
(21.0 |
) |
|
(24.0 |
) |
|
(5.3 |
) |
|
Tax contingencies |
|
(57.1 |
) |
|
(38.4 |
) |
|
(30.8 |
) |
|
Non-deductible acquisition expenses |
|
(1.4 |
) |
|
(2.3 |
) |
|
(0.6 |
) |
|
Earning taxed under foreign law |
|
(14.9 |
) |
|
(21.6 |
) |
|
43.3 |
|
|
Valuation Allowance |
|
— |
|
|
6.4 |
|
|
144.4 |
|
|
Changes to the prior year’s tax assessment |
|
(2.7 |
) |
|
(15.3 |
) |
|
(1.2 |
) |
|
Deferred Tax due to different tax rate |
|
11.2 |
|
|
— |
|
|
— |
|
|
Non recurring Capital gain |
|
11.5 |
|
|
— |
|
|
— |
|
|
Withholding tax |
|
(1.7 |
) |
|
— |
|
|
— |
|
|
Other |
|
(2.6 |
) |
|
(1.4 |
) |
|
1.5 |
|
|
Effective income tax rate |
|
(48.9 |
)% |
|
(57.6 |
)% |
|
(31.5 |
)%
|
|
| Schedule of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:
|
|
|
2019 |
|
2018 |
|
2017 |
|
|
|
(U.S. $ in thousands) |
|
Balance at beginning of year |
|
|
22,044 |
|
|
|
27,317 |
|
|
$ |
18,000 |
|
|
Additions for tax positions related to the current year |
|
|
2,336 |
|
|
|
12,321 |
|
|
|
8,777 |
|
|
Foreign currency impact |
|
|
1,353 |
|
|
|
(2,000 |
) |
|
|
1,242 |
|
|
Adjustments for tax positions related tax settlements |
|
|
— |
|
|
|
(15,576 |
) |
|
|
(687 |
) |
|
Reduction of reserve for statute expirations |
|
|
(216 |
) |
|
|
(18 |
) |
|
|
(15 |
) |
|
Balance at end of year |
|
$ |
25,517 |
|
|
$ |
22,044 |
|
|
$ |
27,317 |
|
|