Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| 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, 2017 and 2016 were as follows:
|
|
December 31, |
|
December 31, |
|
|
2017
|
|
2016 |
|
|
(U.S. $ in thousands) |
| Deferred tax assets |
|
|
|
|
|
|
|
|
| Tax losses carry forwards |
|
$ |
114,107 |
|
|
$ |
139,914 |
|
| Inventory related |
|
|
2,584 |
|
|
|
12,124 |
|
| Intangibles assets |
|
|
23,143 |
|
|
|
38,379 |
|
| Provision for employee related obligations |
|
|
1,463 |
|
|
|
3,568 |
|
| Stock-based compensation expense |
|
|
4,887 |
|
|
|
6,040 |
|
| Deferred revenue |
|
|
2,036 |
|
|
|
3,211 |
|
| Property, plant and equipment |
|
|
924 |
|
|
|
1,140 |
|
| Allowance for doubtful accounts |
|
|
646 |
|
|
|
645 |
|
| Foreign currency losses |
|
|
421 |
|
|
|
587 |
|
| Research and development credit carry forwards |
|
|
11,288 |
|
|
|
9,998 |
|
| Other items |
|
|
1,383 |
|
|
|
1,560 |
|
| Gross deferred tax assets |
|
|
162,882 |
|
|
|
217,166 |
|
| Valuation allowance |
|
|
(152,062 |
) |
|
|
(201,376 |
) |
| Total deferred tax assets |
|
$ |
10,820 |
|
|
$ |
15,790 |
|
| |
| Deferred tax liabilities |
|
|
|
|
|
|
|
|
| Intangibles assets |
|
$ |
(13,658 |
) |
|
$ |
(17,053 |
) |
| Property, plant and equipment |
|
|
(3,581 |
) |
|
|
(2,662 |
) |
| Total deferred tax liabilities |
|
$ |
(17,239 |
) |
|
$ |
(19,715 |
) |
| Net deferred tax liabilities |
|
$ |
(6,419 |
) |
|
$ |
(3,925 |
) |
|
| 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, |
|
2017 |
|
2016 |
|
(U.S. $ in thousands) |
| Deferred tax assets (under "Other non-current assets") |
$ |
650 |
|
|
$ |
2,027 |
|
| Deferred tax liabilities |
|
7,069 |
|
|
|
5,952 |
|
| Net deferred tax liabilities |
$ |
(6,419 |
) |
|
$ |
(3,925 |
) |
|
| Schedule of loss before Income Taxes |
Loss before income taxes for the years ended December 31, 2017, 2016 and 2015 was as follows:
|
|
2017 |
|
2016 |
|
2015 |
|
|
(U.S. $ in thousands) |
| Domestic |
|
$ |
(98 |
) |
|
$ |
(11,783 |
) |
|
$ |
(635,721 |
) |
| Foreign |
|
|
(29,378 |
) |
|
|
(74,576 |
) |
|
|
(748,110 |
) |
|
|
$ |
(29,476 |
) |
|
$ |
(86,359 |
) |
|
$ |
(1,383,831 |
) |
|
| Schedule of Components of Income Taxes |
The components of income taxes for the years ended December 31, 2017, 2016 and 2015 were as follows:
|
|
2017 |
|
2016 |
|
2015 |
|
|
(U.S. $ in thousands) |
| Current |
|
|
|
|
|
|
|
|
|
|
|
|
| Domestic |
|
$ |
10,574 |
|
|
$ |
6,242 |
|
|
$ |
4,564 |
|
| Foreign |
|
|
1,248 |
|
|
|
(5,310 |
) |
|
|
8,304 |
|
|
|
|
11,822 |
|
|
|
932 |
|
|
|
12,868 |
|
| |
| Deferred |
|
|
|
|
|
|
|
|
|
|
|
|
| Domestic |
|
|
(4,497 |
) |
|
|
(9,851 |
) |
|
|
(18,607 |
) |
| Foreign |
|
|
1,948 |
|
|
|
(527 |
) |
|
|
(4,581 |
) |
|
|
|
(2,549 |
) |
|
|
(10,378 |
) |
|
|
(23,188 |
) |
| Total income taxes |
|
$ |
9,273 |
|
|
$ |
(9,446 |
) |
|
$ |
(10,320 |
) |
|
| 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, 2017, 2016 and 2015 is set forth below:
| |
|
2017 |
|
2016 |
|
2015 |
| Statutory tax rate |
|
24.0 |
% |
|
|
25.0 |
|
% |
|
26.5 |
|
% |
| Approved and Privileged enterprise benefits |
|
15.7 |
|
|
|
7.0 |
|
|
|
(0.4 |
) |
|
| Goodwill impairment |
|
- |
|
|
|
- |
|
|
|
(15.3 |
) |
|
| |
| Revaluation of obligations in connection with acquisitions |
|
- |
|
|
|
- |
|
|
|
0.2 |
|
|
| US Tax Act enactment |
|
(222.5 |
) |
|
|
- |
|
|
|
- |
|
|
| Stock compensation expense |
|
(5.3 |
) |
|
|
(2.4 |
) |
|
|
(0.4 |
) |
|
| Tax contingencies |
|
(30.8 |
) |
|
|
(4.7 |
) |
|
|
(0.3 |
) |
|
| Non-deductible acquisition expenses |
|
(0.6 |
) |
|
|
(0.2 |
) |
|
|
(0.1 |
) |
|
| Earning taxed under foreign law |
|
43.3 |
|
|
|
34.4 |
|
|
|
1.4 |
|
|
| Valuation Allowance |
|
144.4 |
|
|
|
(57.0 |
) |
|
|
(11.0 |
) |
|
| Changes to the prior year’s tax assessment |
|
(1.2 |
) |
|
|
7.9 |
|
|
|
- |
|
|
| Other |
|
1.5 |
|
|
|
0.9 |
|
|
|
0.1 |
|
|
| Effective income tax rate |
|
(31.5 |
) |
% |
|
10.9 |
|
% |
|
0.7 |
|
% |
|
| Schedule of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:
|
|
2017 |
|
2016 |
|
2015 |
|
|
(U.S. $ in thousands) |
| Balance at beginning of year |
|
|
18,000 |
|
|
$ |
13,930 |
|
|
$ |
8,552 |
|
| Additions for tax positions related to the current year |
|
|
8,777 |
|
|
|
4,039 |
|
|
|
4,116 |
|
| Foreign currency fluctuation |
|
|
1,242 |
|
|
|
- |
|
|
|
- |
|
| Adjustments for tax positions related to previous years |
|
|
(687 |
) |
|
|
129 |
|
|
|
1,987 |
|
| Reduction of reserve for statute expirations |
|
|
(15 |
) |
|
|
(98 |
) |
|
|
(725 |
) |
| Balance at end of year |
|
$ |
27,317 |
|
|
$ |
18,000 |
|
|
$ |
13,930 |
|
|