Equity (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Equity [Abstract] |
|
| Schedule of Share-based Compensation Expense |
Stock-based compensation expenses for equity-classified stock options and restricted share units (“RSUs”) and performance stock units ("PSUs") were allocated as follows:
|
|
Three Months Ended |
|
|
March 31, |
|
|
2019 |
|
2018 |
|
|
U.S. $ in thousands |
| Cost of sales |
|
$ |
354 |
|
$ |
387 |
| Research and development, net |
|
|
759 |
|
|
742 |
| Selling, general and administrative |
|
|
3,116 |
|
|
2,286 |
| Total stock-based compensation expenses |
|
$ |
4,229 |
|
$ |
3,415 |
|
| Summary of Stock Options Activity |
A summary of the Company’s stock option activity for the three months ended March 31, 2019 is as follows:
|
|
|
|
|
Weighted Average |
|
|
Number of Options |
|
Exercise Price |
| Options outstanding as of January 1, 2019 |
|
2,551,743 |
|
|
$ |
30.82 |
| Exercised |
|
(109,345 |
) |
|
|
20.32 |
| Forfeited |
|
(113,403 |
) |
|
|
25.81 |
| Options outstanding as of March 31, 2019 |
|
2,328,995 |
|
|
$ |
31.56 |
| Options exercisable as of March 31, 2019 |
|
1,550,336 |
|
|
$ |
36.93 |
|
| Summary of RSUs and PSUs activity |
A summary of the Company’s RSUs and PSUs activity for the three months ended March 31, 2019 is as follows:
|
|
Number of RSUs and |
|
|
Weighted Average Grant |
|
|
PSUs |
|
|
Date Fair Value |
| Unvested as of January 1, 2019 |
|
1,422,887 |
|
|
$ |
20.17 |
| Granted |
|
1,511,632 |
|
|
|
26.65 |
| Forfeited |
|
(61,500 |
) |
|
|
21.73 |
| Vested |
|
(43,036 |
) |
|
|
21.06 |
| Unvested as of March 31, 2019 |
|
2,829,983 |
|
|
$ |
23.58 |
|
| Schedule of Accumulated other comprehensive income (loss) |
The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2019 and 2018, respectively:
|
|
Three months ended March 31, 2019 |
|
|
Net unrealized gain |
|
Foreign currency |
|
|
|
|
|
|
(loss) on cash flow |
|
translation |
|
|
|
|
|
|
hedges |
|
adjustments |
|
Total |
|
|
U.S. $ in thousands
|
| Balance as of January 1, 2019 |
|
$ |
(627 |
) |
|
$ |
(7,126 |
) |
|
$ |
(7,753 |
) |
| Other comprehensive income (loss) before reclassifications |
|
|
1,011 |
|
|
|
(427 |
) |
|
|
584 |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
(16 |
) |
|
|
- |
|
|
|
(16 |
) |
| Other comprehensive income (loss) |
|
|
995 |
|
|
|
(427 |
) |
|
|
568 |
|
| Balance as of March 31, 2019 |
|
$ |
368 |
|
|
$ |
(7,553 |
) |
|
$ |
(7,185 |
) |
|
|
Three months ended March 31, 2018 |
|
|
Net unrealized gain |
|
Foreign currency |
|
|
|
|
|
|
(loss) on cash flow |
|
translation |
|
|
|
|
|
|
Hedges |
|
adjustments |
|
Total |
|
|
U.S. $ in thousands |
| Balance as of January 1, 2018 |
|
$ |
330 |
|
|
$ |
(7,353 |
) |
|
$ |
(7,023 |
) |
| Other comprehensive income (loss) before reclassifications |
|
|
(90 |
) |
|
|
2,011 |
|
|
|
1,921 |
|
| Amounts reclassified from accumulated other comprehensive loss |
|
|
(235 |
) |
|
|
- |
|
|
|
(235 |
) |
| Other comprehensive income |
|
|
(325 |
) |
|
|
2,011 |
|
|
|
1,686 |
|
| Balance as of March 31, 2018 |
|
$ |
5 |
|
|
$ |
(5,342 |
) |
|
$ |
(5,337 |
) |
|