Stratasys (SSYS) 6-K 9 May 16 2016 Q1 Condensed Consolidated Financial Statements Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	STRATASYS LTD.
Entity Central Index Key	1,517,396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	SSYS
Document Type	6-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 213,176	$ 257,592
Short-term bank deposits	67,000	571
Accounts receivable, net	109,132	123,215
Inventories	124,479	123,658
Net investment in sales-type leases	12,833	11,704
Prepaid expenses	7,362	8,469
Other current assets	20,243	21,864
Total current assets	554,225	547,073
Non-current assets
Goodwill	386,559	383,853
Other intangible assets, net	238,431	252,468
Property, plant and equipment, net	200,704	201,934
Net investment in sales-type leases - long-term	18,569	17,785
Deferred income taxes and other non-current assets	14,313	11,243
Total non-current assets	858,576	867,283
Total assets	1,412,801	1,414,356
Current liabilities
Accounts payable	37,549	39,021
Accrued expenses and other current liabilities	34,510	31,314
Accrued compensation and related benefits	41,380	34,052
Income taxes payable	11,951	11,395
Obligations in connection with acquisitions	5,058	4,636
Deferred revenues	52,031	52,309
Total current liabilities	182,479	172,727
Non-current liabilities
Obligations in connection with acquisitions - long-term	4,658	4,354
Deferred tax liabilities	14,694	16,040
Deferred revenues - long-term	8,463	7,627
Other non-current liabilities	24,571	22,428
Total non-current liabilities	52,386	50,449
Total liabilities	$ 234,865	$ 223,176
Contingencies, see note 9
Redeemable non-controlling interests	$ 2,281	$ 2,379
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 52,107 thousands shares and 52,082 thousands shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	141	141
Additional paid-in capital	2,611,612	2,605,957
Accumulated other comprehensive loss	(6,502)	(10,774)
Accumulated deficit	(1,429,847)	(1,406,706)
Equity attributable to Stratasys Ltd.	1,175,404	1,188,618
Non-controlling interests	251	183
Total equity	1,175,655	1,188,801
Total liabilities and equity	$ 1,412,801	$ 1,414,356

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - ₪ / shares shares in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in NIS per share)	₪ 0.01	₪ 0.01
Common stock, shares authorized	180,000	180,000
Common stock, shares issued	52,107	52,082
Common stock, shares outstanding	52,107	52,082

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net sales
Products	$ 118,634	$ 126,667
Services	49,272	46,064
Total net sales	167,906	172,731
Cost of sales
Products	56,938	98,371
Services	29,799	28,272
Total cost of sales	86,737	126,643
Gross profit	81,169	46,088
Operating expenses
Research and development, net	25,115	27,238
Selling, general and administrative	$ 76,387	102,608
Goodwill impairment		150,400
Change in fair value of obligations in connection with acquisitions	$ 727	(13,256)
Total operating expenses	102,229	266,990
Operating loss	(21,060)	(220,902)
Financial income (expenses), net	180	(5,124)
Loss before income taxes	(20,880)	(226,026)
Income taxes	2,291	(9,622)
Net loss	(23,171)	(216,404)
Net loss attributable to non-controlling interest	(30)	(116)
Net loss attributable to Stratasys Ltd.	$ (23,141)	$ (216,288)
Net loss per ordinary share attributable to Stratasys Ltd.
Basic	$ (0.44)	$ (4.24)
Diluted	$ (0.44)	$ (4.24)
Weighted average ordinary shares outstanding
Basic	52,098	50,956
Diluted	52,098	50,956
Comprehensive loss
Net loss	$ (23,171)	$ (216,404)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	3,341	(6,408)
Unrealized gains on derivatives designated as cash flow hedges	931	380
Other comprehensive income (loss), net of tax	4,272	(6,028)
Comprehensive loss	(18,899)	(222,432)
Less: comprehensive loss attributable to non-controlling interests	(30)	(116)
Comprehensive loss attributable to Stratasys Ltd.	$ (18,869)	$ (222,316)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net loss	$ (23,171)	$ (216,404)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	23,496	28,907
Stock-based compensation	$ 5,623	9,760
Goodwill impairment		150,400
Impairment of other intangible assets		43,205
Foreign currency translation loss (gain)	$ (4,189)	8,708
Deferred income taxes	(889)	(13,830)
Change in fair value of obligations in connection with acquisitions	727	(13,256)
Other non-cash items	614	47
Change in cash attributable to changes in operating assets and liabilities, net of the impact of acquisitions:
Accounts receivable, net	15,558	4,563
Inventories	363	(15,348)
Net investment in sales-type leases	(1,913)	(1,819)
Other receivables and prepaid expenses	2,089	8,916
Other non-current assets	287	(1,104)
Accounts payable	(951)	10,093
Other current liabilities	11,663	(5,595)
Deferred revenues	(79)	2,747
Other non-current liabilities	2,356	3,914
Net cash provided by operating activities	31,584	3,904
Cash flows from investing activities
Purchase of property and equipment	(7,585)	(14,408)
Investment in short-term bank deposits	(67,264)	$ (1,709)
Purchase of investments	(4,000)
Proceeds from maturities of short-term bank deposits	$ 1,558	$ 8,725
Cash paid for acquisitions, net of cash acquired		(3,801)
Acquisition of intangible assets	$ (245)	(376)
Other investing activities	(70)	(99)
Net cash used in investing activities	(77,606)	(11,668)
Cash flows from financing activities
Proceeds from exercise of stock options	$ 122	1,969
Payments of obligations in connection with acquisitions		(11,620)
Net cash provided by (used in) financing activities	$ 122	(9,651)
Effect of exchange rate changes on cash and cash equivalents	1,484	(1,694)
Net change in cash and cash equivalents	(44,416)	(19,109)
Cash and cash equivalents, beginning of period	257,592	442,141
Cash and cash equivalents, end of period	213,176	423,032
Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory	503	2,502
Transfer of inventory to fixed assets	$ 939	$ 4,584

Basis of Presentation and Conso

Basis of Presentation and Consolidation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	Note 1. Basis of Presentation and Consolidation Stratasys Ltd. (collectively with its subsidiaries, the “Company”) is a 3D solutions company, offering additive manufacturing (“AM”) solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. The Company’s solutions include products ranging from entry-level desktop 3D printers to systems for rapid prototyping (“RP”) and large production systems for direct digital manufacturing (“DDM”). The Company also develops, manufactures and sells materials for use with its systems and provides related service offerings. The Company also provides a variety of custom manufacturing solutions through its direct manufacturing printed parts service as well as 3D printing related professional services offerings. The condensed consolidated interim financial statements include the accounts of Stratasys Ltd. and its subsidiaries. All intercompany accounts and transactions, including profits from intercompany sales not yet realized outside the Company, have been eliminated in consolidation. The consolidated interim financial information herein is unaudited; however, such information reflects all adjustments (consisting of normal, recurring adjustments), which are, in the opinion of management, necessary for a fair statement of results for the interim period. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the full year. Certain financial information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. The reader is referred to the audited consolidated financial statements and notes thereto for the year ended December 31, 2015, filed as part of the Company’s Annual Report on Form 20-F for such year. Recently issued and adopted accounting pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) which simplifies certain aspects of the accounting for share-based payments, including accounting for income taxes, classification of awards as either equity or liabilities, classification on the statement of cash flows as well as allowing an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. This ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted in any annual or interim period for which financial statements have not yet been issued, and all amendments in the ASU that apply must be adopted in the same period. The Company is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements. In addition, the impact on the Company’s consolidated financial statements upon adoption is dependent on the Company’s share price at option expiration dates and restricted stock vesting dates. In February 2016, the FASB issued a new ASU which revise lease accounting guidance. Under the new guidance, most lessees will be required to recognize on the balance sheet a right-of-use asset and corresponding lease liabilities for all leases, other than leases that meet the definition of a short-term lease. The liability and the right-of-use asset arising from the lease will be measured as the present value of the lease payments. The new standard is effective for fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The new standard must be adopted using a modified retrospective transition approach. The Company is currently evaluating the impact of the adoption of the new lease accounting guidance on its consolidated financial statements. In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede the current revenue recognition guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle of the new revenue recognition standard is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new revenue recognition standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. This standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is currently evaluating the impact of the adoption of the new revenue recognition standard on its consolidated financial statements and the method of adoption to be used.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Note 2. Inventories Inventories consisted of the following: March 31, December 31, 2016 2015 U.S. $ in thousands Finished goods $ 77,105 $ 78,604 Work-in-process 7,883 6,559 Raw materials 39,491 38,495 $ 124,479 $ 123,658

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 3. Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of the Company’s goodwill for the three months ended March 31, 2016, were as follows: (U.S. $ in millions) Goodwill as of January 1, 2016 $ 383.9 Translation differences 2.7 Goodwill as of March 31, 2016 $ 386.6 Other Intangible Assets Other intangible assets consisted of the following: March 31, 2016 December 31, 2015 Gross Accumulated Net Gross Accumulated Net Carrying Accumulated Impairment Book Carrying Accumulated Impairment Book Amount Amortization Loss Value Amount Amortization Loss Value U.S. $ in thousands Developed technology $ 509,673 $ (168,124 ) $ (203,170 ) $ 138,379 $ 509,827 $ (157,862 ) $ (203,170 ) $ 148,795 Patents 18,232 (10,454 ) - 7,778 17,785 (10,008 ) - 7,777 Trademarks and trade names 60,182 (15,044 ) (27,698 ) 17,440 60,141 (14,463 ) (27,698 ) 17,980 Customer relationships 150,915 (44,961 ) (34,720 ) 71,234 150,677 (41,708 ) (34,720 ) 74,249 Non-compete agreements 10,843 (5,874 ) (4,969 ) - 10,843 (5,874 ) (4,969 ) - Capitalized software development costs 21,555 (17,584 ) (1,379 ) 2,592 21,389 (17,351 ) (1,379 ) 2,659 In process research and development 22,179 - (21,171 ) 1,008 22,179 - (21,171 ) 1,008 $ 793,579 $ (262,041 ) $ (293,107 ) $ 238,431 $ 792,841 $ (247,266 ) $ (293,107 ) $ 252,468 Amortization expense relating to intangible assets for the three-month periods ended March 31, 2016 and 2015 was approximately $14.7 As of March 31, 2016, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods were as follows: Estimated amortization expense (U.S. $ in thousands) Remaining nine months of 2016 $ 43,698 2017 57,924 2018 55,707 2019 42,050 2020 15,057 Thereafter 22,987 Total $ 237,423

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2016
Net loss per ordinary share attributable to Stratasys Ltd.
Loss Per Share	Note 4. Loss Per Share The Company complies with ASC 260, Earnings Per Share , which requires dual presentation of basic and diluted income (loss) per ordinary share attributable to Stratasys Ltd. for all periods presented. Net income (loss) per basic share is computed by dividing net income (loss) attributable to common stockholders of Stratasys Ltd., including adjustment of redeemable non-controlling interest to its redemption amount, by the weighted average number of shares outstanding for the reporting periods. Diluted net income (loss) per share is computed by dividing the basic net income (loss) per share including adjustment for elimination of the dilutive effect of the Company’s Deferred Payments liability revaluation to it fair value, by the weighted-average number of ordinary shares and the potential dilutive ordinary shares outstanding during the period. Diluted shares outstanding include the dilutive effect of in-the-money options and restricted stock units (“RSUs”) using the treasury stock method, shares held back from issuance in connection with the transaction whereby the Company acquired MakerBot (the “MakerBot transaction”) and presumed share settlement of the Company’s Deferred Payments liability and other retention settlements in connection with its acquisitions. The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three months ended March 31, 2016 and 2015: Three months ended March 31, 2016 2015 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd.– for the computation of basic and diluted net loss per share $ (23,141 ) $ (216,288 ) Denominator: Weighted average shares – denominator for basic and diluted net loss per share 52,098 50,956 Net loss per share attributable to Stratasys Ltd. Basic $ (0.44 ) $ (4.24 ) Diluted $ (0.44 ) $ (4.24 ) None of the above mentioned adjustments had a dilutive effect on the diluted net loss per share. The computation of diluted net loss per share, excluded share awards of 3.56 million shares and 2.95 million shares for the three months ended March 31, 2016 and 2015, respectively, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes The Company had negative effective tax rate of 11.0% and loss Israel and the U.S. , driven by no tax benefit being recorded for its U.S. subsidiaries tax losses. During the three months ended March 31, 2016, the Company provided for its related to its U.S. subsidiaries that are not expected to The Company’s effective tax rate for the three months ended March 31, 2015 was impacted by goodwill impairment of $150.4 million associated with the Makerbot reporting unit which was non-tax deductible. In addition, the impairment of MakerBot intangible assets resulted in a reversal of related deferred tax liabilities amounting to $17.2 million. As a result, the Company recorded a valuation allowance in a corresponding amount of $17.2 million against deferred tax assets in respect of net operating losses as it is more likely than not that those deferred tax assets will not be realized in the near-term The Company will continue to monitor whether the realization of its remaining deferred tax assets is more likely than not.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A hierarchy has been established for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that are developed using market data, such as publicly available information about actual events or transactions, and that reflect the assumptions that market participants would use when pricing the asset or liability. Unobservable inputs are inputs for which market data are not available and that are developed using the best information available about the assumptions that market participants would use when pricing the asset or liability. The fair value hierarchy is categorized into three Levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2 inputs include inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial instruments measured at fair value The following tables summarize the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, by fair value hierarchy, in its consolidated balance sheets: March 31, 2016 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 383 $ - $ 383 Foreign exchange forward contracts designated as hedging instruments 823 - 823 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (2,097 ) - (2,097 ) Obligations in connection with acquisitions - (7,718 ) (7,718 ) $ (891 ) $ (7,718 ) $ (8,609 ) December 31, 2015 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 866 $ - $ 866 Foreign exchange forward contracts designated as hedging instruments 23 - 23 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (432 ) - (432 ) Foreign exchange forward contracts designated as hedging instruments (131 ) - (131 ) Obligations in connection with acquisitions - (6,991 ) (6,991 ) $ 326 $ (6,991 ) $ (6,665 ) The Company’s foreign exchange forward contracts are classified as Level 2, as they are not actively traded and are valued using pricing models that use observable market inputs, including interest rate curves and both forward and spot prices for currencies (Level 2 inputs). Other financial instruments consist mainly of cash and cash equivalents, short-term bank deposits, current and non-current receivables, net investment in sales-type leases, accounts payable and other current liabilities. The fair value of these financial instruments approximates their carrying values. Other fair value disclosures The following table is a reconciliation of the changes for those financial liabilities where fair value measurements are estimated utilizing Level 3 inputs, which consist of obligations in connection with acquisitions: Three months ended Year ended March 31, 2016 December 31, 2015 (U.S. $ in thousands) Fair value at the beginning of the period $ 6,991 $ 35,656 Settlements - (4,994 ) Change in fair value recognized in earnings 727 (23,671 ) Fair value at the end $ 7,718 $ 6,991 The Company’s obligations in connection with acquisitions as of March 31, 2016 are related to the deferred payments for was The deferred payments are recognized as liabilities at fair value in the Company’s consolidated balance sheets and are classified as short-term and long-term obligations in connection with acquisitions. The fair value of the deferred payments was determined based on the closing market price of the Company’s ordinary shares on the Solid Concepts transaction date, adjusted to reflect a discount for lack of marketability for the applicable periods. The discount for lack of marketability was calculated based on the historical volatility of the Company’s share price and thus represents a Level 3 measurement within the fair value hierarchy. As of March 31, 2016 , The fair value of the deferred payments is primarily linked to the Company’s share price. An increase of 10% in the Company’s share price as of March 31, 2016 would have increased the fair value of the remaining deferred payments by $0.8 million. In addition, changes in Level 3 inputs that were used in the fair value calculation might change the fair value of the deferred payments. A decrease of 10% in the Company’s share price volatility used in the calculation for discount for lack of marketability as of March 31, 2016 would increase the fair value of the Company’s deferred payments liability by approximately $0.2 million. During the three months ended March 31, 2016 and 2015, the Company recorded a loss of $0.7 million and a gain of $13.3 million, respectively, due to the revaluation of the deferred payments under change in fair value of obligations in connection with acquisitions in the Company’s consolidated statements of operations and comprehensive loss.

Derivative instruments and hedg

Derivative instruments and hedging activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Note 7. Derivative instruments and hedging activities: The following table summarizes the condensed consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount March 31, December 31, March 31, December 31, Balance sheet location 2016 2015 2016 2015 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 383 $ 866 $ 31,184 $ 54,586 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 823 23 21,592 2,700 Liability derivatives -Foreign exchange contracts, not Accrued expenses and designated as hedging instruments other current liabilities (2,097 ) (432 ) 53,075 35,036 Liability derivatives -Foreign exchange contracts, Accrued expenses and designated as hedging instruments other current liabilities - (131 ) - 13,682 $ (891 ) $ 326 $ 105,851 $ 106,004 The Company enters into foreign exchange forward contracts to hedge its foreign currency exposure resulting from revenue and expense in major foreign currencies in which it operates and to reduce the foreign currency fluctuations on certain of its balance sheet items. As of March 31, 2016, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $65.7 million, $8.6 million and $10.0 million, and are used to reduce foreign currency exposures of the Euro, New Israeli Shekel (the “NIS”) As of March 31, 2016, NIS

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	Note 8. Equity a. Stock-based compensation plans Stock-based compensation expenses Three Months Ended March 31, 2016 2015 U.S $ in thousands Cost of sales $ 723 $ 1,833 Research and development, net 1,359 1,868 Selling, general and administrative 3,541 6,059 Total stock-based compensation expenses $ 5,623 $ 9,760 A summary of the Company’s stock option activity for the three months ended March 31, 2016 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2016 2,449,742 $ 39.73 Granted 481,489 23.24 Exercised (13,820 ) 8.86 Forfeited (68,120 ) 41.49 Options outstanding as of March 31, 2016 2,849,291 $ 37.05 Options exercisable as of March 31, 2016 1,082,060 $ 34.32 The outstanding options generally have a term of ten years from the grant date. Options granted become exercisable over the vesting period, which is normally a four-year period beginning on the grant date, subject to the employee’s continuing service to the Company. The fair value of stock options is determined using the Black-Scholes model. The weighted-average grant date fair value of options that were granted during the three-month period ended March 31, 2016 was $12.52 per option. During the three-month periods ended March 31, 2016 and 2015, the Company issued 13,820 shares and 91,528 shares, respectively, upon the exercise of stock options. This resulted in an increase in equity of $0.1 million and $2.0 million for the three-month periods ended March 31, 2016 and 2015, respectively. As of March 31, 2016, the unrecognized compensation cost related to all unvested , equity-classified A summary of the Company’s RSUs activity for the three months ended March 31, 2016 is as follows: Weighted Average Number of RSUs Grant Date Fair Value Unvested RSUs outstanding as of January 1, 2016 559,124 $ 81.35 Forfeited (41,483 ) 81.33 Vested (11,358 ) 98.88 Unvested RSUs outstanding as of March 506,283 $ 80.96 The fair value of RSUs is determined based on the quoted price of the Company’s ordinary shares on the date of the grant. There were no new RSUs grants during the three months ended March 31, 2016. As of March 31, 2016, the unrecognized compensation cost related to all unvested , equity-classified b. 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 three months ended March 31, 2016 and 2015: Three months ended March 31, 2016 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2016 $ (107 ) $ (10,667 ) $ (10,774 ) Other comprehensive income before reclassifications 863 3,341 4,204 Amounts reclassified from accumulated other comprehensive income 68 - 68 Other comprehensive income 931 3,341 4,272 Balance as of March 31, 2016 $ 824 $ (7,326 ) $ (6,502 ) Three months ended March 31, 2015 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2015 $ (1,243 ) $ (2,404 ) $ (3,647 ) Other comprehensive loss reclassifications (728 ) (6,408 ) (7,136 ) Amounts reclassified from accumulated other comprehensive income 1,108 - 1,108 Other comprehensive income (loss) 380 (6,408 ) (6,028 ) Balance as of March 31, 2015 $ (863 ) $ (8,812 ) $ (9,675 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 9. Contingencies Claims Related to Company Equity On March 4, 2013, five current or former minority shareholders (two of whom were former directors) of the Company filed two lawsuits against the Company in an Israeli central district court. The lawsuits demand that the Company amend its capitalization table such that certain share issuances prior to the Stratasys-Objet merger to certain of Objet’s shareholders named as defendants would be cancelled, with a consequent issuance of additional shares to the plaintiffs to account for the subsequent dilution to which they have been subject. The lawsuits also name as defendants Elchanan Jaglom, Chairman of the Company’s board of directors, David Reis, Chief Executive Officer, various shareholders of the Company who were also shareholders of Objet, and, in one of the lawsuits, Ilan Levin, a director. The lawsuits allege in particular that a series of investments in Objet during 2002 and 2007 was effected at a price per share that was below fair market value, thereby illegally diluting those shareholders that did not participate in the investments. The plaintiffs also allege that a portion of the amount invested in those transactions was actually invested by an investor who was already a shareholder of Objet and allegedly acting in concert with Mr. Jaglom, and that the interest of these two shareholders in these transactions was not properly disclosed to the minority shareholders at the time. The lawsuits furthermore claim that the Company effectively engaged in backdating the issuance of certain shares, in that shares that Objet reported as having been issued in 2006 and 2007 were actually issued at a subsequent date—as late as 2009. The Company filed its statements of defense in May 2013 denying the plaintiffs’ claims. The court has dismissed the lawsuit of one of the former directors due to lack of cause. The suits are currently at the stage of pre-trial hearings. Securities Law Class Actions On February 5, 2015, a lawsuit styled as a class action was commenced in the United States District Court for the District of Minnesota, naming the Company and certain of the Company’s officers as defendants. Similar actions were filed on February 9 and 20, 2015 in the Southern District of New York and the Eastern District of New York, respectively. The lawsuits allege violations of the Securities Exchange Act of 1934 in connection with allegedly false and misleading statements concerning the Company’s business and prospects. The plaintiffs seek damages and awards of reasonable costs and expenses, including attorneys’ fees. On April 15, 2015, the cases were consolidated for all purposes, and on April 24, 2015, the court entered an order appointing lead plaintiffs and approving their selection of lead counsel for the putative class. On July 1, 2015, lead plaintiffs filed their consolidated complaint. On August 31, 2015, the defendants moved to dismiss the consolidated complaint for failure to state a claim. The Court heard the motion on December 11, 2015, but has not rendered a decision. The Company intends to mount vigorous defenses to these lawsuits. The Company is a party to various other legal proceedings, the outcome of which, in the opinion of management, will not have a material adverse effect on the financial position, results of operations or cash flows of the Company.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: March 31, December 31, 2016 2015 U.S. $ in thousands Finished goods $ 77,105 $ 78,604 Work-in-process 7,883 6,559 Raw materials 39,491 38,495 $ 124,479 $ 123,658

Goodwill and Other Intangible16

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of the Company’s goodwill for the three months ended March 31, 2016, were as follows: (U.S. $ in millions) Goodwill as of January 1, 2016 $ 383.9 Translation differences 2.7 Goodwill as of March 31, 2016 $ 386.6
Schedule of Other Intangible Assets	Other intangible assets consisted of the following: March 31, 2016 December 31, 2015 Gross Accumulated Net Gross Accumulated Net Carrying Accumulated Impairment Book Carrying Accumulated Impairment Book Amount Amortization Loss Value Amount Amortization Loss Value U.S. $ in thousands Developed technology $ 509,673 $ (168,124 ) $ (203,170 ) $ 138,379 $ 509,827 $ (157,862 ) $ (203,170 ) $ 148,795 Patents 18,232 (10,454 ) - 7,778 17,785 (10,008 ) - 7,777 Trademarks and trade names 60,182 (15,044 ) (27,698 ) 17,440 60,141 (14,463 ) (27,698 ) 17,980 Customer relationships 150,915 (44,961 ) (34,720 ) 71,234 150,677 (41,708 ) (34,720 ) 74,249 Non-compete agreements 10,843 (5,874 ) (4,969 ) - 10,843 (5,874 ) (4,969 ) - Capitalized software development costs 21,555 (17,584 ) (1,379 ) 2,592 21,389 (17,351 ) (1,379 ) 2,659 In process research and development 22,179 - (21,171 ) 1,008 22,179 - (21,171 ) 1,008 $ 793,579 $ (262,041 ) $ (293,107 ) $ 238,431 $ 792,841 $ (247,266 ) $ (293,107 ) $ 252,468
Schedule of Estimated Amortization Expense Relating to Intangible Assets	As of March 31, 2016, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods were as follows: Estimated amortization expense (U.S. $ in thousands) Remaining nine months of 2016 $ 43,698 2017 57,924 2018 55,707 2019 42,050 2020 15,057 Thereafter 22,987 Total $ 237,423

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Net loss per ordinary share attributable to Stratasys Ltd.
Schedule of Computations of Numerator and Denominator of Basic and Diluted Income (Loss) Per Share	The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three months ended March 31, 2016 and 2015: Three months ended March 31, 2016 2015 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd.– for the computation of basic and diluted net loss per share $ (23,141 ) $ (216,288 ) Denominator: Weighted average shares – denominator for basic and diluted net loss per share 52,098 50,956 Net loss per share attributable to Stratasys Ltd. Basic $ (0.44 ) $ (4.24 ) Diluted $ (0.44 ) $ (4.24

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Carried at Fair Value on a Recurring Basis	The following tables summarize the Company’s financial assets and liabilities that are carried at fair value on a recurring basis, by fair value hierarchy, in its consolidated balance sheets: March 31, 2016 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 383 $ - $ 383 Foreign exchange forward contracts designated as hedging instruments 823 - 823 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (2,097 ) - (2,097 ) Obligations in connection with acquisitions - (7,718 ) (7,718 ) $ (891 ) $ (7,718 ) $ (8,609 ) December 31, 2015 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 866 $ - $ 866 Foreign exchange forward contracts designated as hedging instruments 23 - 23 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (432 ) - (432 ) Foreign exchange forward contracts designated as hedging instruments (131 ) - (131 ) Obligations in connection with acquisitions - (6,991 ) (6,991 ) $ 326 $ (6,991 ) $ (6,665 )
Schedule of Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs	The following table is a reconciliation of the changes for those financial liabilities where fair value measurements are estimated utilizing Level 3 inputs, which consist of obligations in connection with acquisitions: Three months ended Year ended March 31, 2016 December 31, 2015 (U.S. $ in thousands) Fair value at the beginning of the period $ 6,991 $ 35,656 Settlements - (4,994 ) Change in fair value recognized in earnings 727 (23,671 ) Fair value at the end of the period $ 7,718 $ 6,991

Derivative instruments and he19

Derivative instruments and hedging activities (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	The following table summarizes the condensed consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount March 31, December 31, March 31, December 31, Balance sheet location 2016 2015 2016 2015 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 383 $ 866 $ 31,184 $ 54,586 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 823 23 21,592 2,700 Liability derivatives -Foreign exchange contracts, not Accrued expenses and designated as hedging instruments other current liabilities (2,097 ) (432 ) 53,075 35,036 Liability derivatives -Foreign exchange contracts, Accrued expenses and designated as hedging instruments other current liabilities - (131 ) - 13,682 $ (891 ) $ 326 $ 105,851 $ 106,004

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expenses Three Months Ended March 31, 2016 2015 U.S $ in thousands Cost of sales $ 723 $ 1,833 Research and development, net 1,359 1,868 Selling, general and administrative 3,541 6,059 Total stock-based compensation expenses $ 5,623 $ 9,760
Summary of Stock Options Activity	A summary of the Company’s stock option activity for the three months ended March 31, 2016 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2016 2,449,742 $ 39.73 Granted 481,489 23.24 Exercised (13,820 ) 8.86 Forfeited (68,120 ) 41.49 Options outstanding as of March 31, 2016 2,849,291 $ 37.05 Options exercisable as of March 31, 2016 1,082,060 $ 34.32
Summary of RSUs activity	A summary of the Company’s RSUs activity for the three months ended March 31, 2016 is as follows: Weighted Average Number of RSUs Grant Date Fair Value Unvested RSUs outstanding as of January 1, 2016 559,124 $ 81.35 Forfeited (41,483 ) 81.33 Vested (11,358 ) 98.88 Unvested RSUs outstanding as of March 31, 2016 506,283 $ 80.96
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 three months ended March 31, 2016 and 2015: Three months ended March 31, 2016 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2016 $ (107 ) $ (10,667 ) $ (10,774 ) Other comprehensive income before reclassifications 863 3,341 4,204 Amounts reclassified from accumulated other comprehensive income 68 - 68 Other comprehensive income 931 3,341 4,272 Balance as of March 31, 2016 $ 824 $ (7,326 ) $ (6,502 ) Three months ended March 31, 2015 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2015 $ (1,243 ) $ (2,404 ) $ (3,647 ) Other comprehensive loss reclassifications (728 ) (6,408 ) (7,136 ) Amounts reclassified from accumulated other comprehensive income 1,108 - 1,108 Other comprehensive income (loss) 380 (6,408 ) (6,028 ) Balance as of March 31, 2015 $ (863 ) $ (8,812 ) $ (9,675 )

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 77,105	$ 78,604
Work-in-process	7,883	6,559
Raw materials	39,491	38,495
Total Inventory	$ 124,479	$ 123,658

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Schedule of Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill as of January 1, 2016	$ 383,853
Translation differences	2,700
Goodwill as of March 31, 2016	$ 386,559

Goodwill and Other Intangible23

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Gross Carrying Amount	$ 793,579	$ 792,841
Accumulated Amortization	(262,041)	(247,266)
Accumulated Impairment Loss	(293,107)	(293,107)
Net Book Value	238,431	252,468
Developed technology [Member]
Gross Carrying Amount	509,673	509,827
Accumulated Amortization	(168,124)	(157,862)
Accumulated Impairment Loss	(203,170)	(203,170)
Net Book Value	138,379	148,795
Patents [Member]
Gross Carrying Amount	18,232	17,785
Accumulated Amortization	$ (10,454)	$ (10,008)
Accumulated Impairment Loss
Net Book Value	$ 7,778	$ 7,777
Trademarks and trade names [Member]
Gross Carrying Amount	60,182	60,141
Accumulated Amortization	(15,044)	(14,463)
Accumulated Impairment Loss	(27,698)	(27,698)
Net Book Value	17,440	17,980
Customer relationships [Member]
Gross Carrying Amount	150,915	150,677
Accumulated Amortization	(44,961)	(41,708)
Accumulated Impairment Loss	(34,720)	(34,720)
Net Book Value	71,234	74,249
Non-compete agreements [Member]
Gross Carrying Amount	10,843	10,843
Accumulated Amortization	(5,874)	(5,874)
Accumulated Impairment Loss	$ (4,969)	$ (4,969)
Net Book Value
Capitalized software development costs [Member]
Gross Carrying Amount	$ 21,555	$ 21,389
Accumulated Amortization	(17,584)	(17,351)
Accumulated Impairment Loss	(1,379)	(1,379)
Net Book Value	2,592	2,659
In process research and development [Member]
Gross Carrying Amount	$ 22,179	$ 22,179
Accumulated Amortization
Accumulated Impairment Loss	$ (21,171)	$ (21,171)
Net Book Value	$ 1,008	$ 1,008

Goodwill and Other Intangible24

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense Relating to Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining nine months of 2016	$ 43,698
2,017	57,924
2,018	55,707
2,019	42,050
2,020	15,057
Thereafter	22,987
Net Book Value	237,423
Amortization of intangible assets	$ 14,700	$ 22,000

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net loss per ordinary share attributable to Stratasys Ltd.
Antidilutive securities excluded from computation of net loss per share	3,560	2,950

Loss Per Share (Schedule of Com

Loss Per Share (Schedule of Computations of Numerator and Denominator of Basic and Diluted Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net loss attributable to Stratasys Ltd. - for the computation of basic and diluted net loss per share	$ (23,141)	$ (216,288)
Denominator:
Weighted average shares - denominator for basic and diluted net loss per share	52,098	50,956
Net loss per share attributable to Stratasys Ltd.
Basic	$ (0.44)	$ (4.24)
Diluted	$ (0.44)	$ (4.24)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Valuation Allowance [Line Items]
Effective Income Tax Rate, Continuing Operations	(11.00%)	4.30%
Goodwill impairment		$ 150,400
Valuation allowance recorded against deferred tax assets	$ 11,900
MakerBot [Member]
Valuation Allowance [Line Items]
Goodwill impairment		150,400
Valuation allowance recorded against deferred tax assets		17,200
Reversal of deferred tax liabilities		$ 17,200

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jul. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of obligations in connection with acquisitions		$ 727	$ (13,256)
Solid Concepts Inc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining obligations in connection with acquisitions		8,900
Increase to fair value of deferred payments if Company's share price increased by 10%		800
Increase to fair value of deferred payments if there was a 10% change in share price volatility used in calculation of discount		$ 200
Solid Concepts Inc [Member] | Ordinary Shares [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ordinary shares issued as consideration for business acquisition	118,789
Value of ordinary shares issued as consideration for business acquisition	$ 4,100
Cash given as consideration for business acquisition	$ 900

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Fair Value Measurements) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair value, asset (liability)	$ (8,609)	$ (6,665)
Fair Value, Inputs, Level 2 [Member]
Fair value, asset (liability)	(891)	326
Fair Value, Inputs, Level 3 [Member]
Fair value, asset (liability)	(7,718)	(6,991)
Foreign Exchange Future [Member] | Not Designated as Hedging Instrument [Member]
Derivative assets	383	866
Derivative liabilities	(2,097)	(432)
Foreign Exchange Future [Member] | Designated as Hedging Instrument [Member]
Derivative assets	823	23
Derivative liabilities		(131)
Foreign Exchange Future [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member]
Derivative assets	383	866
Derivative liabilities	(2,097)	(432)
Foreign Exchange Future [Member] | Fair Value, Inputs, Level 2 [Member] | Designated as Hedging Instrument [Member]
Derivative assets	$ 823	23
Derivative liabilities		$ (131)
Foreign Exchange Future [Member] | Fair Value, Inputs, Level 3 [Member] | Not Designated as Hedging Instrument [Member]
Derivative assets
Derivative liabilities
Foreign Exchange Future [Member] | Fair Value, Inputs, Level 3 [Member] | Designated as Hedging Instrument [Member]
Derivative assets
Derivative liabilities
Obligations in connection with acquisitions [Member]
Derivative liabilities	$ (7,718)	$ (6,991)
Obligations in connection with acquisitions [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative assets
Derivative liabilities
Obligations in connection with acquisitions [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative liabilities	$ (7,718)	$ (6,991)

Fair Value Measurements (Sche30

Fair Value Measurements (Schedule of Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs) (Details)) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs [Roll Forward]
Fair value at the beginning of the period	$ 6,991	$ 35,656
Settlements		(4,994)
Change in fair value recognized in earnings	$ 727	(23,671)
Fair value at the end of the period	$ 7,718	$ 6,991

Derivative instruments and he31

Derivative instruments and hedging activities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Gain (loss) on derivative instrument	$ (2,900)	$ 4,200
Other current assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	31,184		$ 54,586
Other current assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Conversion To Euro [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	65,700
Other current assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Conversion To NIS [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	8,600
Other current assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Conversion To Yen [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	10,000
Other current assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	21,592		$ 2,700
Other current assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Conversion To NIS [Member]
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	$ 21,600

Derivative instruments and he32

Derivative instruments and hedging activities (Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value	$ (891)	$ 326
Notional amount	105,851	106,004
Other current assets [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	383	866
Notional amount of derivative asset	31,184	54,586
Other current assets [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	823	23
Notional amount of derivative asset	21,592	2,700
Accrued expenses and other current liabilities [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(2,097)	(432)
Notional amount of derivative liability	$ 53,075	35,036
Accrued expenses and other current liabilities [Member] | Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability		(131)
Notional amount of derivative liability		$ 13,682

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Options granted
Weighted average fair value of options granted	$ 12.52
Number of options exercised	13,820	91,528
Increase in equity	$ 0.1	$ 2
Stock option term	10 years
Vesting period	4 years
Unrecognized compensation cost	$ 27
Weighted average period for recognition	2 years 10 months 24 days
Restricted Stock Units (RSUs) [Member]
Options granted	0
Unrecognized compensation cost	$ 22.1
Weighted average period for recognition	2 years 4 months 24 days

Equity (Schedule of Stock-based

Equity (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 5,623	$ 9,760
Cost of sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	723	1,833
Research and development, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	1,359	1,868
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 3,541	$ 6,059

Equity (Schedule of Stock Optio

Equity (Schedule of Stock Option Activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Number of Options:
Balance, beginning	2,449,742
Granted	481,489
Exercised	(13,820)	(91,528)
Forfeited	(68,120)
Balance, ending	2,849,291
Exercisable	1,082,060
Weighted Average Exercise Price:
Balance, beginning	$ 39.73
Granted	23.24
Exercised	8.86
Forfeited	41.49
Balance, ending	37.05
Exercisable	$ 34.32

Equity (Summary of RSUs activit

Equity (Summary of RSUs activity) (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of RSUs
RSUs outstanding as of January 1, 2016 | shares	559,124
Forfeited | shares	(41,483)
Vested | shares	(11,358)
RSUs outstanding as of March 31, 2016 | shares	506,283
Weighted Average Grant Date Fair Value
RSUs outstanding as of January 1, 2016 | $ / shares	$ 81.35
Forfeited | $ / shares	81.33
Vested | $ / shares	98.88
RSUs outstanding as of March 31, 2016 | $ / shares	$ 80.96

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated other comprehensive income (loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	$ (10,774)	$ (3,647)
Other comprehensive income (loss) before reclassifications	4,204	(7,136)
Amounts reclassified from accumulated other comprehensive income	68	1,108
Other comprehensive income (loss)	4,272	(6,028)
Balance as of end of period	(6,502)	(9,675)
Net unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(107)	(1,243)
Other comprehensive income (loss) before reclassifications	863	(728)
Amounts reclassified from accumulated other comprehensive income	68	1,108
Other comprehensive income (loss)	931	380
Balance as of end of period	824	(863)
Foreign currency translation adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(10,667)	(2,404)
Other comprehensive income (loss) before reclassifications	$ 3,341	$ (6,408)
Amounts reclassified from accumulated other comprehensive income
Other comprehensive income (loss)	$ 3,341	$ (6,408)
Balance as of end of period	$ (7,326)	$ (8,812)