Stratasys (SSYS) 6-K 9 Aug 17 2017 Q2 Condensed Consolidated Financial Statements Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2017
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	Jun. 30, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 305,345	$ 280,328
Accounts receivable, net	120,342	120,411
Inventories	116,486	117,521
Net investment in sales-type leases	9,921	11,717
Prepaid expenses	6,701	7,571
Other current assets	17,557	15,491
Total current assets	576,352	553,039
Non-current assets
Net investment in sales-type leases - long-term	7,406	12,126
Property, plant and equipment, net	207,689	208,415
Goodwill	386,513	385,629
Other intangible assets, net	160,926	177,458
Other non-current assets	32,335	29,382
Total non-current assets	794,869	813,010
Total assets	1,371,221	1,366,049
Current liabilities
Accounts payable	46,087	40,933
Current portion of long-term debt	3,714	3,714
Accrued expenses and other current liabilities	28,910	32,207
Accrued compensation and related benefits	39,744	34,186
Obligations in connection with acquisitions	4,932	3,619
Deferred revenues	50,464	49,952
Total current liabilities	173,851	164,611
Non-current liabilities
Long-term debt	20,429	22,286
Deferred tax liabilities	4,197	5,952
Deferred revenues - long-term	14,087	12,922
Other non-current liabilities	25,984	22,251
Total non-current liabilities	64,697	63,411
Total liabilities	238,548	228,022
Contingencies (see note 9)
Redeemable non-controlling interests	1,811	2,029
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 52,854 thousands shares and 52,639 thousands shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	142	142
Additional paid-in capital	2,644,579	2,633,129
Accumulated other comprehensive loss	(10,143)	(13,479)
Accumulated deficit	(1,503,769)	(1,483,925)
Equity attributable to Stratasys Ltd.	1,130,809	1,135,867
Non-controlling interests	53	131
Total equity	1,130,862	1,135,998
Total liabilities and equity	$ 1,371,221	$ 1,366,049

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - ₪ / shares shares in Thousands	Jun. 30, 2017	Dec. 31, 2016
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	52,854	52,639
Common stock, shares outstanding	52,854	52,639

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net sales
Products	$ 121,021	$ 123,758	$ 236,108	$ 242,392
Services	48,969	48,315	97,044	97,587
Total net sales	169,990	172,073	333,152	339,979
Cost of sales
Products	54,723	61,413	109,203	118,351
Services	31,875	31,128	63,677	60,927
Total cost of sales	86,598	92,541	172,880	179,278
Gross profit	83,392	79,532	160,272	160,701
Operating expenses
Research and development, net	23,251	24,366	47,885	49,481
Selling, general and administrative	64,569	72,884	128,748	149,271
Change in fair value of obligations in connection with acquisitions	617	(587)	1,313	140
Total operating expenses	88,437	96,663	177,946	198,892
Operating loss	(5,045)	(17,131)	(17,674)	(38,191)
Financial income, net	429	932	685	1,112
Loss before income taxes	(4,616)	(16,199)	(16,989)	(37,079)
Income tax expenses	1,308	2,454	2,634	4,745
Share in loss of associated company	(229)		(517)
Net loss	(6,153)	(18,653)	(20,140)	(41,824)
Net loss attributable to non-controlling interest	(166)	(163)	(296)	(193)
Net loss attributable to Stratasys Ltd.	$ (5,987)	$ (18,490)	$ (19,844)	$ (41,631)
Net loss per ordinary share attributable to Stratasys Ltd.
Basic	$ (0.11)	$ (0.35)	$ (0.38)	$ (0.80)
Diluted	$ (0.11)	$ (0.36)	$ (0.38)	$ (0.80)
Weighted average ordinary shares outstanding
Basic	52,778	52,169	52,733	52,133
Diluted	52,778	52,496	52,733	52,133
Comprehensive loss
Net loss	$ (6,153)	$ (18,653)	$ (20,140)	$ (41,824)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2,437	(2,962)	3,150	380
Unrealized gains on derivatives designated as cash flow hedges	(337)	(539)	186	391
Other comprehensive income (loss), net of tax	2,100	(3,501)	3,336	771
Comprehensive loss	(4,053)	(22,154)	(16,804)	(41,053)
Less: comprehensive loss attributable to non-controlling interests	(166)	(163)	(296)	(193)
Comprehensive loss attributable to Stratasys Ltd.	$ (3,887)	$ (21,991)	$ (16,508)	$ (40,860)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net loss	$ (20,140)	$ (41,824)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	32,972	46,792
Stock-based compensation	9,235	11,102
Foreign currency transaction gain	(7,350)	(3,427)
Deferred income taxes	(1,581)	(3,327)
Change in fair value of obligations in connection with acquisitions	1,313	140
Impairment of other intangibles assets		1,779
Other items	1,509	636
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	2,524	11,294
Inventories	626	(3,024)
Net investment in sales-type leases	6,516	487
Other current assets and prepaid expenses	1,287	880
Other non-current assets	264	511
Accounts payable	5,066	2,112
Other current liabilities	(423)	(2,295)
Deferred revenues	604	2,084
Other non-current liabilities	3,809	14,556
Net cash provided by operating activities	36,231	38,476
Cash flows from investing activities
Purchase of property and equipment	(11,291)	(21,079)
Investment in unconsolidated entities	(2,548)	(23,064)
Purchase of intangible assets	(677)	(771)
Proceeds from maturities of short-term bank deposits		68,361
Investment in short-term bank deposits		(67,077)
Other investing activities	(163)	(142)
Net cash used in investing activities	(14,679)	(43,772)
Cash flows from financing activities
Repayment of current portion of long-term debt	(1,857)
Proceeds from exercise of stock options	2,215	711
Net cash provided by financing activities	358	711
Effect of exchange rate changes on cash and cash equivalents	3,107	875
Net change in cash and cash equivalents	25,017	(3,710)
Cash and cash equivalents, beginning of period	280,328	257,592
Cash and cash equivalents, end of period	305,345	253,882
Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory	630	583
Transfer of inventory to fixed assets	$ 3,354	$ 2,464

Basis of Presentation and Conso

Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2017
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 across a broad range of vertical markets. 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 and six months ended June 30, 2017 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, 2016, filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of the Company’s Annual Report on Form 20-F for such year on March 9, 2017. Recently issued and adopted accounting pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which simplifies certain aspects of the accounting for share-based payments, including, among other items, accounting for income taxes and 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, rather than to account for them based on an estimate of expected forfeitures. This ASU became effective for the Company on January 1, 2017. Upon the adoption of this ASU, the Company recorded a cumulative-effect adjustment to its net operating losses of approximately $5 million as of January 1, 2017 offset with an increase to its valuation allowance with respect to previously unrecognized excess tax benefits. Under the new ASU, excess tax benefits or deficiencies related to stock option exercises and restricted stock unit vesting are recognized in the statement of operations. The adoption of this ASU does not have a material impact on the Company’s results of operations as excess tax benefits generated from the vesting of share-based awards will be recognized in the consolidated statements of operations, but offset with consideration of the valuation allowance in the Company’s US operations. In addition, upon the adoption of this ASU, the Company has elected as an accounting policy to record forfeitures as they occur, using a modified retrospective transition method. The total cumulative-effect adjustment to retained earnings as of January 1, 2017 was immaterial. Prior periods have not been restated. In January 2017, the FASB issued an ASU which eliminates the requirement to determine the implied fair value of the reporting unit’s goodwill by measuring the reporting unit’s assets and liabilities at fair value in a hypothetical analysis as if the reporting unit was acquired in a business combination, as part of the second step of goodwill impairment testing. Under the new guidance, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new ASU is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for annual or interim goodwill impairment testing performed after January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In November 2016, the FASB issued an ASU which requires entities to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The ASU is effective for annual reporting periods (including interim periods within those annual reporting periods) beginning after December 15, 2017. Early adoption is permitted and should be adopted retrospectively. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated statements of cash flows. In October 2016, the FASB issued an ASU which eliminates the exception for an intra-entity transfer of an asset other than inventory. This ASU requires that the income tax consequences of an intra-entity asset transfer other than inventory are recognized at the time of the transfer, rather than when the transferred asset is sold to a third party or otherwise recovered through use. The ASU is effective for annual reporting periods (including interim periods within those annual reporting periods) beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual reporting period (as of the first interim period if an entity issues interim financial statements). The new guidance requires adoption on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, the FASB issued a new ASU which revises lease accounting guidance. Under the new guidance, lessees will be required to recognize a right-of-use asset and a lease liability 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 (“full retrospective approach”) or retrospectively with the cumulative effect recognized as of the date of adoption (“modified retrospective approach”). The Company has developed a project plan to analyze the potential impact this guidance will have on its consolidated financial statements and related disclosures as well as its business processes, systems and controls. This includes reviewing revenue contracts across all revenue streams and evaluates potential differences that would result from applying the requirements under the new guidance. Based on the analysis conducted to date, the Company expects to adopt this standard using the modified retrospective approach and is still currently evaluating all the potential impacts of the adoption of this standard. Therefore, the Company cannot reasonably estimate quantitative information related to the impact of this standard on its consolidated financial statements at this time.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Note 2. Inventories Inventories, net consisted of the following: June 30, December 31, 2017 2016 U.S. $ in thousands Finished goods $ 64,077 $ 62,728 Work-in-process 2,021 2,389 Raw materials 50,388 52,404 $ 116,486 $ 117,521

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 were as follows: U.S. $ in millions Goodwill as of January 1, 2017 $ 385.6 Translation differences 0.9 Goodwill as of June 30, 2017 $ 386.5 Other Intangible Assets Other intangible assets consisted of the following: June 30, 2017 December 31, 2016 Carrying Amount, Net Carrying Amount, Net Net of Accumulated Book Net of Accumulated Book Impairment Amortization Value Impairment Amortization Value U.S. $ in thousands Developed technology $ 304,766 $ (209,549 ) $ 95,217 $ 304,766 $ (198,632 ) $ 106,134 Patents 19,692 (13,268 ) 6,424 19,009 (12,257 ) 6,752 Trademarks and trade names 27,808 (17,526 ) 10,282 27,819 (16,849 ) 10,970 Customer relationships 106,880 (58,816 ) 48,064 106,571 (54,258 ) 52,313 Capitalized software development costs 19,541 (18,602 ) 939 19,540 (18,251 ) 1,289 $ 478,687 $ (317,761 ) $ 160,926 $ 477,705 $ (300,247 ) $ 177,458 Amortization expense relating to intangible assets for the three-month periods ended June 30, 2017 and 2016 was approximately $8.7 million and $14.5 million, respectively. Amortization expense relating to intangible assets for the six-month periods ended June 30, 2017 and 2016 was approximately $17.4 million and $29.2 million, respectively. The decrease in amortization expense was primarily due to change in the estimated useful lives of certain intangibles assets. As of June 30, 2017, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods was as follows: Estimated amortization expense (U.S. $ in thousands) Remaining 6 months of 2017 $ 17,323 2018 33,214 2019 32,307 2020 31,967 2021 31,387 Thereafter 14,728 Total $ 160,926

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2017
Net loss per ordinary share attributable to Stratasys Ltd.
Loss Per Share	Note 4. Loss Per Share The following table presents the numerator and denominator of the basic and diluted net loss per share computations for the three and six months ended June 30, 2017 and 2016: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic loss per share $ (5,987 ) $ (18,490 ) $ (19,844 ) $ (41,631 ) Adjustment of deferred payments liability revaluation - (559 ) - - Net loss attributable to Stratasys Ltd. for diluted loss per share (5,987 ) (19,049 ) (19,844 ) (41,631 ) Denominator: Weighted average shares – denominator for basic net loss per share 52,778 52,169 52,733 52,133 Add: Shares settlement presumed for deferred payments liability - 327 - - Denominator for diluted loss per share 52,778 52,496 52,733 52,133 Net loss per share attributable to Stratasys Ltd. Basic $ (0.11 ) $ (0.35 ) $ (0.38 ) $ (0.80 ) Diluted $ (0.11 ) $ (0.36 ) $ (0.38 ) $ (0.80 ) The computation of diluted net loss per share excluded share awards of 4.4 million shares and 3.8 million shares for the three months ended June 30, 2017 and 2016, respectively, and 4.4 million shares and 4.1 million shares for the six months ended June 30, 2017 and 2016, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes The Company had a negative effective tax rate of 28.3% for the three-month periods ended June 30, 2017 compared to a negative effective tax rate of 15.1% for the three-month periods ended June 30, 2016, and negative effective tax rate of 15.5% for the six-month periods ended June 30, 2017 compared to a negative effective tax rate of 12.8% for the six-month periods ended June 30, 2016. The Company’s effective tax rate was primarily impacted by different geographic mix of earnings and losses driven by no tax benefit being recorded for its U.S. subsidiaries tax losses for the three-month and six-month periods ended June 30, 2017 and 2016.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
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: June 30, 2017 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 206 $ - $ 206 Foreign exchange forward contracts designated as hedging instruments 161 - 161 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (811 ) - (811 ) Obligations in connection with acquisitions - (3,932 ) (3,932 ) $ (444 ) $ (3,932 ) $ (4,376 ) December 31, 2016 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 1,440 $ - $ 1,440 Foreign exchange forward contracts designated as hedging instruments 37 - 37 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (48 ) - (48 ) Foreign exchange forward contracts designated as hedging instruments (61 ) - (61 ) Obligations in connection with acquisitions - (2,619 ) (2,619 ) $ 1,368 $ (2,619 ) $ (1,251 ) 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, current and non-current receivables, net investment in sales-type leases, bank loan, accounts payable and other current liabilities. The fair value of these financial instruments approximates their carrying values. Other fair value disclosures The following table provides 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: Six months ended Year ended June 30, 2017 December 31, 2016 (U.S. $ in thousands) Fair value at the beginning of the period $ 2,619 $ 6,991 Settlements - (3,500 ) Change in fair value recognized in earnings 1,313 (872 ) Fair value at the end of the period $ 3,932 $ 2,619 The Company’s obligations in connection with acquisitions as of June 30, 2017, which are estimated utilizing Level 3 inputs, are related to the deferred payments for the Company’s acquisition of Solid Concepts Inc. (the “Solid Concepts transaction”). As part of the Solid Concepts transaction, which was completed in July 2014, the Company is obligated to pay additional deferred payments in three separate annual installments after the Solid Concepts transaction date (“deferred payments”). Subject to certain requirements for cash payments, the Company retains the discretion to settle the deferred payments in its shares, cash or any combination of the two. The deferred payments are also subject to certain adjustments based on the Company’s share price. During the third quarter of 2016, the Company issued 152,633 ordinary shares valued at $3.1 million and paid cash of $0.4 million to settle the second annual installment of the deferred payments. The deferred payments are classified as liabilities and are measured at fair value in the Company’s consolidated balance sheets. 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 June 30, 2017, the fair value of the remaining deferred payments was $3.9 million. As of June 30, 2017, the total amount of the remaining deferred payments, which does not reflect a discount for lack of marketability, was approximately $4.0 million, based on the Company’s share price as of that date. 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 June 30, 2017 would have increased the fair value of the remaining deferred payments by $0.4 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 June 30, 2017 would not change materially the fair value of the Company’s deferred payments liability. With respect to the fair-value revaluations of the deferred payments, the Company recorded a loss of $0.6 million and a gain of $0.6 million, for the three-month periods ended June 30, 2017 and 2016, respectively, and losses of $1.3 million and $0.1 million for the six-month periods ended June 30, 2017 and 2016, respectively. Such fair-value revaluations are presented 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	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Note 7. Derivative instruments and hedging activities As the Company conducts its operations globally, it is exposed to global market risks and to the risk that its earnings, cash flows and equity could be adversely impacted by fluctuations in foreign currency exchange rates. The Company enters into transactions involving foreign currency exchange derivative financial instruments. The Company manages its foreign currency exposures on a consolidated basis, which allows the Company to net exposures and take advantage of any natural hedging. The transactions are designed to manage the Company’s net exposure to foreign currency exchange rates and to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The Company does not enter into derivative transactions for trading purposes. The Company is primarily exposed to foreign exchange risk with respect to recognized assets and liabilities and forecasted transactions denominated in the New Israeli Shekel (“NIS”), the Euro, the Japanese , the Korean Won and the Chinese Yuan The following table summarizes the condensed consolidated balance sheets classification and fair values of the Company’s derivative instruments: Fair Value Notional Amount June 30, December 31, June 30, December 31, Balance sheet location 2017 2016 2017 2016 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 206 $ 1,440 $ 26,060 $ 39,982 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 161 37 6,526 8,348 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (811 ) (48 ) 61,868 13,273 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities - (61 ) - 7,534 $ (444 ) $ 1,368 $ 94,454 $ 69,137 As of June 30, 2017, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $87.9 million and were used to reduce foreign currency exposures of the local currencies in the markets in which the Company operates As of June 30, 2017, the Company had in effect foreign exchange forward contracts, designated as cash flow hedge for accounting purposes, for the conversion of $6.5 million into NIS. The Company uses short-term cash flow hedge contracts to reduce its exposure to variability in expected future cash flows resulting mainly from payroll costs denominated in NIS. The changes in fair value of those contracts are included in the Company’s accumulated other comprehensive loss. These contracts mature through December 2017.

Equity

Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Equity	Note 8. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options and RSUs were allocated as follows: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 U.S $ in thousands Cost of sales $ 799 $ 729 $ 1,442 $ 1,451 Research and development, net 1,089 1,357 1,938 2,716 Selling, general and administrative 3,443 3,393 5,855 6,935 Total stock-based compensation expenses $ 5,331 $ 5,479 $ 9,235 $ 11,102 A summary of the Company’s stock option activity for the six months ended June 30, 2017 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2017 2,615,461 $ 37.21 Granted 1,608,885 20.51 Exercised (140,476 ) 15.77 Forfeited (464,266 ) 40.97 Options outstanding as of June 30, 2017 3,619,604 $ 30.14 Options exercisable as of June 30, 2017 1,477,347 $ 38.88 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 continuous service to the Company. The fair value of stock options is determined using the Black-Scholes model. 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 six-month period ended June 30, 2017 was $10.78 per option. During the six-month periods ended June 30, 2017 and 2016, the Company issued 140,476 shares and 93,591 shares, respectively, upon the exercise of stock options. This resulted in an increase in equity of $2.2 million and $0.7 million for the six-month periods ended June 30, 2017 and 2016, respectively. As of June 30, 2017, the unrecognized compensation cost of $23.2 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.2 years. A summary of the Company’s RSUs activity for the six months ended June 30, 2017 is as follows: Weighted Average Number of RSUs Grant Date Fair Value Unvested RSUs outstanding as of January 1, 2017 267,756 $ 81.35 Granted 253,858 19.97 Forfeited (73,638 ) 82.50 Vested (67,980 ) 57.69 Unvested RSUs outstanding as of June 30, 2017 379,996 $ 44.36 The fair value of RSUs is determined based on the quoted price of the Company’s ordinary shares on the date of the grant. As of June 30, 2017, the unrecognized compensation cost of $10.6 million related to all unvested, equity-classified RSUs is expected to be recognized as expense over a weighted-average period of 2.9 years. b. Accumulated other comprehensive loss The following table presents the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the six months ended June 30, 2017 and 2016: Six months ended June 30, 2017 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2017 $ (24 ) $ (13,455 ) $ (13,479 ) Other comprehensive income before reclassifications 1,069 3,150 4,219 Amounts reclassified from accumulated other comprehensive loss (883 ) - (883 ) Other comprehensive income 186 3,150 3,336 Balance as of June 30, 2017 $ 162 $ (10,305 ) $ (10,143 ) Six months ended June 30, 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 loss before reclassifications 542 380 922 Amounts reclassified from accumulated other comprehensive income (151 ) - (151) Other comprehensive income 391 380 771 Balance as of June 30, 2016 $ 284 $ (10,287 ) $ (10,003 )

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
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 demanded 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 named as defendants Elchanan Jaglom, Chairman of the Company’s board of directors, in one of the lawsuits, Ilan Levin, the Company’s Chief Executive Officer and director, various shareholders of the Company who were also shareholders of Objet, and David Reis, a director. The Company filed its statements of defense in May 2013 denying the plaintiffs’ claims. In 2015, the court dismissed the lawsuit of one of the former directors due to lack of cause. In February 2017, the parties reached an agreement pursuant to which all claims were settled at no material cost to the Company. Notice of the settlement was provided and the suits were subsequently dismissed. 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. On June 30, 2016, the Court granted defendants’ motion to dismiss with prejudice and entered judgment in favor of defendants. On July 29, 2016, lead plaintiffs filed a notice of appeal to the United States Court of Appeals for the Eighth Circuit from the Court’s judgment. On September 22, 2016, lead plaintiffs filed the opening initial brief in support of their appeal. On October 24, 2016, defendants filed their answering brief to the appeal. On November 18, 2016, lead plaintiffs filed their reply brief in support of the appeal. Oral arguments for appeal were held on March 9, 2017. On July 25, 2017, the Eighth Circuit entered an order and judgment affirming the Court’s dismissal with prejudice. The Company is a party to various other legal proceedings, the outcome of which, in the opinion of management, will not have a significant adverse effect on the financial position or profitability of the Company.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, net consisted of the following: June 30, December 31, 2017 2016 U.S. $ in thousands Finished goods $ 64,077 $ 62,728 Work-in-process 2,021 2,389 Raw materials 50,388 52,404 $ 116,486 $ 117,521

Goodwill and Other Intangible16

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 were as follows: U.S. $ in millions Goodwill as of January 1, 2017 $ 385.6 Translation differences 0.9 Goodwill as of June 30, 2017 $ 386.5
Schedule of Other Intangible Assets	Other intangible assets consisted of the following: June 30, 2017 December 31, 2016 Carrying Amount, Net Carrying Amount, Net Net of Accumulated Book Net of Accumulated Book Impairment Amortization Value Impairment Amortization Value U.S. $ in thousands Developed technology $ 304,766 $ (209,549 ) $ 95,217 $ 304,766 $ (198,632 ) $ 106,134 Patents 19,692 (13,268 ) 6,424 19,009 (12,257 ) 6,752 Trademarks and trade names 27,808 (17,526 ) 10,282 27,819 (16,849 ) 10,970 Customer relationships 106,880 (58,816 ) 48,064 106,571 (54,258 ) 52,313 Capitalized software development costs 19,541 (18,602 ) 939 19,540 (18,251 ) 1,289 $ 478,687 $ (317,761 ) $ 160,926 $ 477,705 $ (300,247 ) $ 177,458
Schedule of Estimated Amortization Expense Relating to Intangible Assets	As of June 30, 2017, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods was as follows: Estimated amortization expense (U.S. $ in thousands) Remaining 6 months of 2017 $ 17,323 2018 33,214 2019 32,307 2020 31,967 2021 31,387 Thereafter 14,728 Total $ 160,926

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
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 and six months ended June 30, 2017 and 2016: Three months ended June 30, Six months ended June 30, 2017 2016 2017 2016 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic loss per share $ (5,987 ) $ (18,490 ) $ (19,844 ) $ (41,631 ) Adjustment of deferred payments liability revaluation - (559 ) - - Net loss attributable to Stratasys Ltd. for diluted loss per share (5,987 ) (19,049 ) (19,844 ) (41,631 ) Denominator: Weighted average shares – denominator for basic net loss per share 52,778 52,169 52,733 52,133 Add: Shares settlement presumed for deferred payments liability - 327 - - Denominator for diluted loss per share 52,778 52,496 52,733 52,133 Net loss per share attributable to Stratasys Ltd. Basic $ (0.11 ) $ (0.35 ) $ (0.38 ) $ (0.80 ) Diluted $ (0.11 ) $ (0.36 ) $ (0.38 ) $ (0.80 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
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: June 30, 2017 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 206 $ - $ 206 Foreign exchange forward contracts designated as hedging instruments 161 - 161 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (811 ) - (811 ) Obligations in connection with acquisitions - (3,932 ) (3,932 ) $ (444 ) $ (3,932 ) $ (4,376 ) December 31, 2016 (U.S. $ in thousands) Level 2 Level 3 Total Assets: Foreign exchange forward contracts not designated as hedging instruments $ 1,440 $ - $ 1,440 Foreign exchange forward contracts designated as hedging instruments 37 - 37 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (48 ) - (48 ) Foreign exchange forward contracts designated as hedging instruments (61 ) - (61 ) Obligations in connection with acquisitions - (2,619 ) (2,619 ) $ 1,368 $ (2,619 ) $ (1,251 )
Schedule of Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs	The following table provides 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: Six months ended Year ended June 30, 2017 December 31, 2016 (U.S. $ in thousands) Fair value at the beginning of the period $ 2,619 $ 6,991 Settlements - (3,500 ) Change in fair value recognized in earnings 1,313 (872 ) Fair value at the end of the period $ 3,932 $ 2,619

Derivative instruments and he19

Derivative instruments and hedging activities (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, December 31, June 30, December 31, Balance sheet location 2017 2016 2017 2016 U.S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 206 $ 1,440 $ 26,060 $ 39,982 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 161 37 6,526 8,348 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (811 ) (48 ) 61,868 13,273 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities - (61 ) - 7,534 $ (444 ) $ 1,368 $ 94,454 $ 69,137

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of Share-based Compensation Expense	Stock-based compensation expenses for equity-classified stock options and RSUs were allocated as follows: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 U.S $ in thousands Cost of sales $ 799 $ 729 $ 1,442 $ 1,451 Research and development, net 1,089 1,357 1,938 2,716 Selling, general and administrative 3,443 3,393 5,855 6,935 Total stock-based compensation expenses $ 5,331 $ 5,479 $ 9,235 $ 11,102
Summary of Stock Options Activity	A summary of the Company’s stock option activity for the six months ended June 30, 2017 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2017 2,615,461 $ 37.21 Granted 1,608,885 20.51 Exercised (140,476 ) 15.77 Forfeited (464,266 ) 40.97 Options outstanding as of June 30, 2017 3,619,604 $ 30.14 Options exercisable as of June 30, 2017 1,477,347 $ 38.88
Summary of RSUs activity	A summary of the Company’s RSUs activity for the six months ended June 30, 2017 is as follows: Weighted Average Number of RSUs Grant Date Fair Value Unvested RSUs outstanding as of January 1, 2017 267,756 $ 81.35 Granted 253,858 19.97 Forfeited (73,638 ) 82.50 Vested (67,980 ) 57.69 Unvested RSUs outstanding as of June 30, 2017 379,996 $ 44.36
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 six months ended June 30, 2017 and 2016: Six months ended June 30, 2017 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2017 $ (24 ) $ (13,455 ) $ (13,479 ) Other comprehensive income before reclassifications 1,069 3,150 4,219 Amounts reclassified from accumulated other comprehensive loss (883 ) - (883 ) Other comprehensive income 186 3,150 3,336 Balance as of June 30, 2017 $ 162 $ (10,305 ) $ (10,143 ) Six months ended June 30, 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 loss before reclassifications 542 380 922 Amounts reclassified from accumulated other comprehensive income (151 ) - (151) Other comprehensive income 391 380 771 Balance as of June 30, 2016 $ 284 $ (10,287 ) $ (10,003 )

Basis of Presentation and Con21

Basis of Presentation and Consolidation (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cumulative-effect adjustment to net operating loss from adoption of new accounting pronouncement	$ 5

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 64,077	$ 62,728
Work-in-process	2,021	2,389
Raw materials	50,388	52,404
Total Inventory	$ 116,486	$ 117,521

Goodwill and Other Intangible23

Goodwill and Other Intangible Assets (Schedule of Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill as of January 1, 2017	$ 385,629
Translation differences	900
Goodwill as of June 30, 2017	$ 386,513

Goodwill and Other Intangible24

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 478,687	$ 477,705
Accumulated Amortization	(317,761)	(300,247)
Net Book Value	160,926	177,458
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	304,766	304,766
Accumulated Amortization	(209,549)	(198,632)
Net Book Value	95,217	106,134
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,692	19,009
Accumulated Amortization	(13,268)	(12,257)
Net Book Value	6,424	6,752
Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	27,808	27,819
Accumulated Amortization	(17,526)	(16,849)
Net Book Value	10,282	10,970
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	106,880	106,571
Accumulated Amortization	(58,816)	(54,258)
Net Book Value	48,064	52,313
Capitalized software development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,541	19,540
Accumulated Amortization	(18,602)	(18,251)
Net Book Value	$ 939	$ 1,289

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense Relating to Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining six months of 2017	$ 17,323		$ 17,323
2,018	33,214		33,214
2,019	32,307		32,307
2,020	31,967		31,967
2,021	31,387		31,387
Thereafter	14,728		14,728
Net Book Value	160,926		160,926
Amortization of intangible assets	$ 8,700	$ 14,500	$ 17,400	$ 29,200

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net loss per ordinary share attributable to Stratasys Ltd.
Antidilutive securities excluded from computation of net loss per share	4.4	3.8	4.4	4.1

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net loss attributable to Stratasys Ltd. for basic loss per share	$ (5,987)	$ (18,490)	$ (19,844)	$ (41,631)
Adjustment of deferred payments liability revaluation		(559)
Net loss attributable to Stratasys Ltd. for diluted loss per share	$ (5,987)	$ (19,049)	$ (19,844)	$ (41,631)
Denominator:
Weighted average shares - denominator for basic net loss per share	52,778	52,169	52,733	52,133
Add:
Shares settlement presumed for deferred payments liability		327
Denominator for diluted loss per share	52,778	52,496	52,733	52,133
Net loss per share attributable to Stratasys Ltd.
Basic	$ (0.11)	$ (0.35)	$ (0.38)	$ (0.80)
Diluted	$ (0.11)	$ (0.36)	$ (0.38)	$ (0.80)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	(28.30%)	(15.10%)	(15.50%)	(12.80%)

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of obligations in connection with acquisitions	$ 617		$ (587)	$ 1,313	$ 140
Solid Concepts Inc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Remaining obligations in connection with acquisitions	3,900			3,900
Increase to fair value of deferred payments if Company's share price increased by 10%				4,000
Increase to fair value of deferred payments if there was a 10% change in share price volatility used in calculation of discount				400
Increased fair value of deferred payments liability	$ 4,000			$ 4,000
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		152,633
Value of ordinary shares issued as consideration for business acquisition		$ 3,100
Cash given as consideration for business acquisition		$ 400

Fair Value Measurement (Schedul

Fair Value Measurement (Schedule of Fair Value Measurements) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (4,376)	$ (1,251)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,368
Derivative liabilities	(444)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(3,932)	(2,619)
Foreign Exchange Future [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	206	1,440
Derivative liabilities	(811)	(48)
Foreign Exchange Future [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	206	1,440
Derivative liabilities	(811)	(48)
Foreign Exchange Future [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Derivative liabilities
Foreign Exchange Future Two [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	161	37
Derivative liabilities		(61)
Foreign Exchange Future Two [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	161	37
Derivative liabilities		(61)
Foreign Exchange Future Two [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets
Derivative liabilities
Obligations in connection with acquisitions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(3,932)	(2,619)
Obligations in connection with acquisitions [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities
Obligations in connection with acquisitions [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (3,932)	$ (2,619)

Fair Value Measurement (Sched31

Fair Value Measurement (Schedule of Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs) (Details)) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Reconciliation of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs [Roll Forward]
Fair value at the beginning of period	$ 2,619	$ 6,991
Settlements		(3,500)
Change in fair value recognized in earnings	1,313	(872)
Fair value at the end of period	$ 3,932	$ 2,619

Derivative instruments and he32

Derivative instruments and hedging activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	$ 87.9		$ 87.9
Gain (Loss) on derivative instrument	(2.4)	$ 0.5	(2.7)	$ (2.4)
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	$ 6.5		$ 6.5

Derivatives and Hedging Activit

Derivatives and Hedging Activities (Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 87,900
Fair value	(444)	$ 1,368
Notional amount	94,454	69,137
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	206	1,440
Notional amount of derivative asset	26,060	39,982
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Accrued expenses and other current liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability	(811)	(48)
Notional amount of derivative liability	61,868	13,273
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other current assets [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	161	37
Notional amount of derivative asset	6,526	8,348
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Accrued expenses and other current liabilities [Member] | Cash Flow Hedge [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative liability		(61)
Notional amount of derivative liability		$ 7,534

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted	$ 10.78
Number of options exercised	140,476	93,591
Increase in equity	$ 2.2	$ 0.7
Stock option term	10 years
Vesting period	4 years
Unrecognized compensation cost	$ 23.2
Weighted average period for recognition	3 years 2 months 12 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 10.6
Weighted average period for recognition	2 years 10 months 25 days

Equity (Schedule of Stock-based

Equity (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 5,331	$ 5,479	$ 9,235	$ 11,102
Cost of sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	799	729	1,442	1,451
Research and development, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	1,089	1,357	1,938	2,716
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 3,443	$ 3,393	$ 5,855	$ 6,935

Equity (Schedule of Stock Optio

Equity (Schedule of Stock Option Activity) (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Number of Options:
Balance, beginning	2,615,461
Granted	1,608,885
Exercised	(140,476)	(93,591)
Forfeited	(464,266)
Balance, ending	3,619,604
Exercisable	1,477,347
Weighted Average Exercise Price:
Balance, beginning	$ 37.21
Granted	20.51
Exercised	15.77
Forfeited	40.97
Balance, ending	30.14
Exercisable	$ 38.88

Equity (Summary of RSUs activit

Equity (Summary of RSUs activity) (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Number of RSUs
Unvested RSUs outstanding, beginning | shares	267,756
Granted | shares	253,858
Forfeited | shares	(73,638)
Vested | shares	(67,980)
Unvested RSUs outstanding, ending | shares	379,996
Weighted Average Grant Date Fair Value
Unvested RSUs outstanding, beginning | $ / shares	$ 81.35
Granted | $ / shares	19.97
Forfeited | $ / shares	82.50
Vested | $ / shares	57.69
Unvested RSUs outstanding, ending | $ / shares	$ 44.36

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated other comprehensive income (loss)) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	$ (13,479)	$ (10,774)
Other comprehensive income (loss) before reclassifications	4,219	922
Amounts reclassified from accumulated other comprehensive income	(883)	(151)
Other comprehensive income	3,336	771
Balance as of end of period	(10,143)	(10,003)
Net unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(24)	(107)
Other comprehensive income (loss) before reclassifications	1,069	542
Amounts reclassified from accumulated other comprehensive income	(883)	(151)
Other comprehensive income	186	391
Balance as of end of period	162	284
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(13,455)	(10,667)
Other comprehensive income (loss) before reclassifications	3,150	380
Amounts reclassified from accumulated other comprehensive income
Other comprehensive income	3,150	380
Balance as of end of period	$ (10,305)	$ (10,287)