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

Income Taxes (Tables)

v3.22.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of components of company's deferred tax assets and liabilities
  December 31,
  2021 2020
  (U.S. $ in thousands)
Deferred tax assets      
Tax losses carry forwards $ 671,458   $ 645,318  
Inventory related   4,210     3,892  
Intangible assets   12,783     19,081  
Provision for employee related obligations   1,186     557  
Stock-based compensation   9,528     7,507  
Deferred revenue   2,257     1,871  
Property, plant and equipment   630     835  
Allowance for credit losses   143     249  
Foreign currency losses   358     278  
Research and development credit carry forwards   15,933     16,693  
Gross deferred tax assets   718,486     696,281  
Valuation allowance   (693,120 )    (661,979 ) 
Total deferred tax assets   25,366     34,302  
       
Deferred tax liabilities      
Intangibles assets   (12,533 )    (21,567 ) 
Property, plant and equipment   (17,991 )    (2,847 ) 
Other items   (882 )    (4,344 ) 
Total deferred tax liabilities   (31,406 )    (28,758 ) 
Net deferred tax assets (liabilities) $ (6,040 )  $ 5,544  
Schedule of deferred tax assets and liabilities classified in consolidated balance sheets
    December 31,
    2021 2020
    (U.S. $ in thousands)
Deferred tax assets (under "Other non-current assets")   $ 1,301     $ 5,586  
Deferred tax liabilities     7,341       42  
Net deferred tax assets (liabilities)   $ (6,040 )    $ 5,544  
Schedule of valuation allowance
  Valuation allowance
  U.S. $ in thousands
Balance at January 1, 2019 $ 152,659  
Decrease   (888 ) 
Balance at December 31, 2019   151,771  
Additions   524,215  
Decrease   (14,007 ) 
Balance at December 31, 2020   661,979  
Additions   31,141  
Balance at December 31, 2021 $ 693,120  
Schedule of loss before Income Taxes
    2021   2020 2019
  (U.S. $ in thousands)
Domestic $ (50,193 )  $ (381,935 )  $ (11,895 ) 
Foreign   (16,644 )    (74,636 )    4,751  
  $ (66,837 )  $ (456,571 )  $ (7,144 ) 
 
Schedule of components of income taxes
  2021   2020   2019
  (U.S. $ in thousands)
Current          
Domestic $ (14,146 )    $ 4,992     $ 3,392  
Foreign   2,141       (3,902 )      2,524  
    (12,005 )      1,090       5,916  
Deferred          
Domestic   8,745       (4,112 )      (2,007 ) 
Foreign   (646 )      (13,372 )      (386 ) 
  8,099       (17,484 )      (2,393 ) 
Total income taxes $ (3,906 )    $ (16,394 )    $ 3,523  
Schedule of reconciliation of income tax rate
    2021   2020   2019
Statutory tax rate   23.0 %   23.0 %     23.0 %
Reduced tax rate under Israeli benefit programs   6.2     (1.4 )      18.0  
Goodwill impairment  
-
     (17.5 )     
-
  
Stock-based compensation expense   (3.5 )    (0.5 )      (21.0 ) 
Non-deductible acquisition expenses   (0.1 )   
-
       (1.4 ) 
Earnings taxed under foreign law   10.8     (4.1 )      (14.9 ) 
Valuation Allowance   (42.7 )    3.1      
-
  
Changes in uncertain tax positions   17.9     1       (59.8 ) 
Deferred Tax due to different tax rates   (6.1 )    0.1       11.2  
Non recurring Capital gain  
-
    
-
       11.5  
Withholding tax   (0.1 )   
-
       (1.7 ) 
Other   0.4     (0.1 )      (2.6 ) 
Effective income tax rate   5.8 %   3.6 %     (48.9 )%
Schedule of beginning and ending balance of uncertain tax positions
    2021       2020       2019  
  (U.S. $ in thousands)
Balance at beginning of year $ 23,389     $ 25,517     $ 22,044  
Additions for tax positions related to the current year   3,826       312       2,336  
Foreign currency impact   2,918       3,017       1,353  
Adjustments for tax positions related tax settlements   (26,685 )     
-
      
-
  
Reduction of reserve for statute expirations   (433 )      (5,457 )      (216 ) 
Balance at end of year $ 3,015     $ 23,389     $ 25,517