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

Income Taxes (Tables)

v3.20.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of components of company's deferred tax assets and liabilities
  December 31,
  2020 2019
  (U.S. $ in thousands)
Deferred tax assets    
Tax losses carry forwards $ 645,318   $ 113,419  
Inventory related   3,892     2,538  
Intangibles assets   19,081     16,628  
Provision for employee related obligations   557     984  
Stock-based compensation expense   7,507     6,936  
Deferred revenue   1,871     1,592  
Property, plant and equipment   835     1,063  
Allowance for credit losses   249     217  
Foreign currency losses   278     12  
Research and development credit carry forwards   16,693     16,239  
Other items   (4,344 )    3,148  
Gross deferred tax assets   691,937     162,776  
Valuation allowance   (661,979 )    (151,771 ) 
Total deferred tax assets $ 29,958   $ 11,005  
     
Deferred tax liabilities    
Intangibles assets $ (21,567 )  $ (7,245 ) 
Property, plant and equipment   (2,847 )    (1,683 ) 
Total deferred tax liabilities $ (24,414 )  $ (8,928 ) 
Net deferred tax assets $ 5,544   $ 2,077  

 
Schedule of deferred tax assets and liabilities classified in consolidated balance sheets
    December 31, 2020   December 31, 2019
    (U.S. $ in thousands)
Deferred tax assets (under "Other non-current assets")   $ 5,586     $ 2,118  
Deferred tax liabilities     42       41  
Net deferred tax assets   $ 5,544     $ 2,077  
Schedule of valuation allowance
  Valuation allowance
  U.S. $ in thousands
Balance at January 1, 2018 $ 152,062  
Additions   597  
Balance at December 31, 2018 $ 152,659  
Decrease   (888 ) 
Balance at December 31, 2019 $ 151,771  
Additions   524,215  
Decrease   (14,007 ) 
Balance at December 31, 2020 $ 661,979  
Schedule of loss before Income Taxes
    2020   2019   2018
    (U.S. $ in thousands)
             
Domestic   $ (381,935 )    $ (11,895 )    $ (17,848 ) 
Foreign     (74,636 )      4,751       9,634  
    $ (456,571 )    $ (7,144 )    $ (8,214 ) 
Schedule of components of income taxes
  2020   2019   2018
  (U.S. $ in thousands)
Current          
Domestic $ 4,992     $ 3,392     $ (722 ) 
Foreign   (3,902 )      2,524       9,414  
    1,090       5,916       8,692  
Deferred          
Domestic   (4,112 )      (2,007 )      (3,169 ) 
Foreign   (13,372 )      (386 )      (787 ) 
  (17,484 )      (2,393 )      (3,956 ) 
Total income taxes $ (16,394 )    $ 3,523     $ 4,736  
Schedule of reconciliation of income tax rate
    2020   2019   2018  
                   
Statutory tax rate     23.0 %     23.0 %     23.0 %
Approved and Privileged enterprise benefits     (1.4 )        18.0         16.0    
Goodwill impairment     (17.5 )       
-
        
-
    
Stock compensation expense     (0.5 )        (21 )        (24.0 )   
Tax contingencies   1.0       (57.1 )        (38.4 )   
Non-deductible acquisition expenses  
-
       (1.4 )        (2.3 )   
Earning taxed under foreign law     (4.1 )        (14.9 )        (21.6 )   
Valuation Allowance   3.1      
-
         6.4    
Changes to the prior year’s tax assessment  
-
       (2.7 )        (15.3 )   
Deferred Tax due to different tax rate   0.1       11.2        
-
    
Non recurring Capital gain  
-
       11.5          
Withholding tax  
-
       (1.7 )       
-
    
Other     (0.1 )        (2.6 )        (1.4 )   
Effective income tax rate     3.6 %     (48.9 )%     (57.6 )%
Schedule of unrecognized tax benefits
      2020   2019   2018
      (U.S. $ in thousands)
Balance at beginning of year     25,517     22,044       27,317  
Additions for tax positions related to the current year     312     2,336       12,321  
Foreign currency impact     3,017     1,353       (2,000 ) 
Adjustments for tax positions related tax settlements    
-
   
-
       (15,576 ) 
Reduction of reserve for statute expirations     (5,457)     (216 )      (18 ) 
Balance at end of year     $ 23,389     $ 25,517     $ 22,044