Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Fair Value Measurements

v3.21.2
Fair Value Measurements
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 9. Fair Value Measurements

 

Financial instruments measured at fair value

The following table summarizes the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, in its consolidated balance sheets:

  September 30, 2021   December 31, 2020
  Level 2   Level 3   Level 2   Level 3
  (U.S. $ in thousands)
Assets:              
Foreign exchange forward contracts not designated as hedging instruments $ 67      
-
     $ 56      
-
  
Foreign exchange forward contracts designated as hedging instruments   634      
-
       793      
-
  
               
Liabilities:              
Foreign exchange forward contracts not designated as hedging instruments   (2 )     
-
       (1,098 )     
-
  
Foreign exchange forward contracts designated as hedging instruments  
-
      
-
       (1,584 )     
-
  
Contingent consideration  
-
       40,589      
-
       37,400  
  $ 699     $ 40,589     $ (1,833 )    $ 37,400  

The Company’s foreign exchange forward contracts are classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs, including interest rate curves and both forward and spot prices for currencies (Level 2 inputs).

Contingent consideration represents liabilities recorded at fair value in connection with acquisitions, and thus represents a Level 3 measurement within the fair value hierarchy (refer to Note 3).

Other financial instruments consist mainly of cash and cash equivalents, short-term deposits, current and non-current assets, accounts payable and other current liabilities. The fair value of these financial instruments approximates their carrying values.