|
Equity (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Schedule of Stock Option Activity |
A summary of the stock option activity (reflecting historical Stratasys, Inc. stock options prior to the Stratasys-Objet merger date) for the year ended December 31, 2014 is as follows:
|
|
|
|
Per Share |
|
Weighted Average |
|
|
Number of Options |
|
Exercise Price
|
|
Exercise Price |
| Options outstanding as of December 31, 2013 |
|
|
2,007,433 |
|
|
2.21 |
- |
|
120.51 |
|
|
29.66 |
| Granted in 2014 |
|
|
239,583 |
|
|
91.48 |
- |
|
115.12 |
|
|
103.55 |
| GrabCAD options from merger in 2014 |
|
|
72,876 |
|
|
2.89 |
- |
|
9.32 |
|
|
7.28 |
| Exercised in 2014 |
|
|
(557,605) |
|
|
2.21 |
- |
|
99.01 |
|
|
14.14 |
| Forfeited in 2014 |
|
|
(43,046) |
|
|
2.74 |
- |
|
120.51 |
|
|
52.22 |
| Options outstanding as of December 31, 2014 |
|
|
1,719,241 |
|
|
2.21 |
- |
|
120.51 |
|
|
43.89 |
| Exercisable options as of December 31, 2014 |
|
|
870,569 |
|
$ |
2.21 |
- |
$ |
120.51 |
|
$ |
22.70 |
|
| Schedule of Stock Options Outstanding |
The following table summarizes information about stock options outstanding at December 31, 2014:
|
|
Options Outstanding |
|
Options Exercisable |
|
|
Outstanding |
|
Weighted- Average |
|
|
|
Exercisable |
|
|
|
|
options at |
|
Remaining |
|
Weighted- Average |
|
options at |
|
Weighted- Average |
| Range of |
|
December 31, |
|
Contractual |
|
Exercise |
|
December 31, |
|
Exercise |
| Exercise Prices |
|
2014 |
|
Life in Years |
|
Price |
|
2014 |
|
Price |
| $ |
2.21 |
- |
$ |
9.90 |
|
|
579,605 |
|
|
3.95 |
|
$ |
6.90 |
|
$ |
478,305 |
|
$ |
6.79 |
|
9.91 |
- |
|
46.87 |
|
|
552,969 |
|
|
2.98 |
|
|
28.88 |
|
|
282,495 |
|
|
24.98 |
|
46.88 |
- |
|
101.98 |
|
|
387,097 |
|
|
8.60 |
|
|
86.58 |
|
|
108,750 |
|
|
85.79 |
| $ |
101.99 |
- |
$ |
120.51 |
|
|
199,570 |
|
|
8.48 |
|
|
106.34 |
|
|
1,019 |
|
|
120.51 |
|
|
|
|
|
|
|
1,719,241 |
|
|
|
|
$ |
43.89 |
|
|
870,569 |
|
$ |
22.70 |
Aggregate intrinsic value
(U.S. $ in thousands) |
|
$ |
74,501 |
|
|
|
|
|
|
|
$ |
53,010 |
|
|
|
|
| Schedule of Equity classified stock-based compensation |
Equity classified stock-based compensation expenses included in the Company's Statements of Operations were:
|
2014 |
|
2013 |
|
2012 |
|
|
|
|
|
|
|
|
|
|
(U.S. $ in thousands) |
|
|
|
|
|
|
|
|
|
| Cost of sales |
$ |
4,495 |
|
$ |
2,980 |
|
$ |
603 |
| Research and development, net |
|
4,862 |
|
|
3,491 |
|
|
960 |
| Selling, general and administrative |
|
20,850 |
|
|
17,791 |
|
|
7,311 |
| Total stock-based compensation expenses |
$ |
30,207 |
|
$ |
24,262 |
|
$ |
8,874 |
|
| Schedule of Accumulated other comprehensive income (loss) |
The following table presents the changes in the components of accumulated other comprehensive income (loss), net of taxes for the year ended December 31, 2014:
|
Year ended December 31, 2014 |
|
Net unrealized gain (loss) on cash flow hedges |
|
Foreign currency translation
adjustments
|
|
Other |
|
Total |
|
(U.S. $ in thousands) |
| Balance as of January 1, 2014 |
$ |
153 |
|
$ |
1,922 |
|
$ |
(167) |
|
$ |
1,908 |
| Other comprehensive income before reclassifications |
|
(2,222) |
|
|
(4,326) |
|
|
- |
|
|
(6,548) |
| Amounts reclassified from accumulated other comprehensive income |
|
826 |
|
|
- |
|
|
167 |
|
|
993 |
| Other comprehensive income (loss) |
|
(1,396) |
|
|
(4,326) |
|
|
167 |
|
|
(5,555) |
| Balance as of December 31, 2014 |
$ |
(1,243) |
|
$ |
(2,404) |
|
$ |
- |
|
$ |
(3,647) |
|
| Stock Options [Member] |
|
| Schedule of Stock Option Assumptions |
The Company used the Black-Scholes option-pricing model to determine the fair value of grants made in 2014, 2013 and 2012. The following assumptions were applied in determining the compensation cost:
|
2014 |
|
2013 |
|
2012 |
| Risk-free interest rate |
|
1.3%-2.0% |
|
|
1.4% - 1.7% |
|
|
0.8 |
% |
| Expected option term (years) |
|
4.2-6.5
|
|
|
5.1 - 5.2
|
|
|
4.5 |
|
| Expected price volitility |
|
45.8%- 47.6% |
|
|
56% - 57% |
|
|
62 |
% |
| Dividend yield |
|
- |
|
|
- |
|
|
- |
|
| Weighted average grant date fair value
|
$ |
60.82 |
|
$ |
40.94 |
|
$ |
22.36 |
|
|