Stratasys (SSYS) 6-K 2 May 18 2018 Q1 Condensed Consolidated Financial Statements Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018
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, 2018
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 346,531	$ 328,761
Accounts receivable, net	119,844	132,671
Inventories	120,065	115,717
Net investment in sales-type leases	5,980	7,208
Prepaid expenses	8,261	7,696
Other current assets	19,295	22,858
Total current assets	619,976	614,911
Non-current assets
Net investment in sales-type leases - long-term	3,423	4,439
Property, plant and equipment, net	197,554	199,951
Goodwill	387,416	387,108
Other intangible assets, net	132,811	142,122
Other non-current assets	34,475	31,219
Total non-current assets	755,679	764,839
Total assets	1,375,655	1,379,750
Current liabilities
Accounts payable	40,608	39,849
Current portion of long-term debt	5,143	5,143
Accrued expenses and other current liabilities	33,390	30,041
Accrued compensation and related benefits	35,541	35,356
Deferred revenues	55,061	52,908
Total current liabilities	169,743	163,297
Non-current liabilities
Long-term debt	25,857	27,143
Deferred tax liabilities	4,141	7,069
Deferred revenues - long-term	15,139	15,200
Other non-current liabilities	30,785	32,899
Total non-current liabilities	75,922	82,311
Total liabilities	245,665	245,608
Contingencies (see note 12)
Redeemable non-controlling interests	1,579	1,635
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 53,710 thousands shares and 53,631 thousands shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	145	145
Additional paid-in capital	2,667,023	2,663,274
Accumulated other comprehensive loss	(5,337)	(7,023)
Accumulated deficit	(1,533,403)	(1,523,906)
Equity attributable to Stratasys Ltd.	1,128,428	1,132,490
Non-controlling interests	(17)	17
Total equity	1,128,411	1,132,507
Total liabilities and equity	$ 1,375,655	$ 1,379,750

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - ₪ / shares shares in Thousands	Mar. 31, 2018	Dec. 31, 2017
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	53,710	53,631
Common stock, shares outstanding	53,710	53,631

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales
Total net sales	$ 153,833	$ 163,162
Cost of sales
Total cost of sales	78,183	86,282
Gross profit	75,650	76,880
Operating expenses
Research and development, net	25,110	24,634
Selling, general and administrative	57,005	64,875
Total operating expenses	82,115	89,509
Operating loss	(6,465)	(12,629)
Financial income, net	8	256
Loss before income taxes	(6,457)	(12,373)
Income tax expenses	601	1,326
Share in losses of associated companies	(6,073)	(288)
Net loss	(13,131)	(13,987)
Net loss attributable to non-controlling interests	(90)	(130)
Net loss attributable to Stratasys Ltd.	$ (13,041)	$ (13,857)
Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted	$ (0.24)	$ (0.26)
Weighted average ordinary shares outstanding - basic and diluted	53,657	52,690
Comprehensive loss
Net loss	$ (13,131)	$ (13,987)
Other comprehensive income, net of tax:
Foreign currency translation adjustments	2,011	713
Unrealized gains (losses) on derivatives designated as cash flow hedges	(325)	523
Other comprehensive income, net of tax	1,686	1,236
Comprehensive loss	(11,445)	(12,751)
Less: comprehensive loss attributable to non-controlling interests	(90)	(130)
Comprehensive loss attributable to Stratasys Ltd.	(11,355)	(12,621)
Products [Member]
Net sales
Total net sales	103,917	115,087
Cost of sales
Total cost of sales	45,218	54,480
Services [Member]
Net sales
Total net sales	49,916	48,075
Cost of sales
Total cost of sales	$ 32,965	$ 31,802

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net loss	$ (13,131)	$ (13,987)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	15,372	16,566
Stock-based compensation	3,415	3,904
Foreign currency transaction gain	(1,678)	(2,744)
Deferred income taxes	(922)	(791)
Share in losses of associated companies	6,073	288
Other non-cash items, net	709	1,673
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	13,990	6,145
Inventories	(3,573)	1,028
Net investment in sales-type leases	2,244	3,344
Other current assets and prepaid expenses	266	(280)
Other non-current assets	(304)	275
Accounts payable	981	3,845
Other current liabilities	4,110	4,043
Deferred revenues	1,594	333
Other non-current liabilities	(2,094)	2,035
Net cash provided by operating activities	27,052	25,677
Cash flows from investing activities
Purchase of property and equipment	(7,607)	(6,315)
Investment in unconsolidated entities	(5,000)	(2,548)
Purchase of intangible assets	(271)	(515)
Proceeds from sale of plant and property	3,770
Other investing activities	(162)	(80)
Net cash used in investing activities	(9,270)	(9,458)
Cash flows from financing activities
Repayment of current portion of long-term debt	(1,286)	(929)
Proceeds from exercise of stock options	1,002	528
Net cash used in financing activities	(284)	(401)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	296	1,419
Net change in cash, cash equivalents and restricted cash	17,794	17,237
Cash, cash equivalents and restricted cash, beginning of period	329,359	280,623
Cash, cash equivalents and restricted cash, end of period	347,153	297,860
Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory	109	129
Transfer of inventory to fixed assets	$ 320	$ 1,357

Business Description and Basis

Business Description and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation	Note 1. Business Description and Basis of Presentation Stratasys Ltd. (collectively with its subsidiaries, the “Company”) is global provider of applied additive technology solutions for a broad range of industries. The Company focuses on customers’ business requirements and seeks to create new value for its customers across their product lifecycle processes, from design prototypes to manufacturing tools and final production parts. The Company operates a 3D printing ecosystem of solutions and expertise, comprised of: 3D printers ranging from entry-level desktop 3D printers to systems for rapid prototyping (“RP”) and large production systems for direct digital manufacturing (“DDM”) based on precise fused deposition modeling (“FDM”) and PolyJet technologies; advanced materials for the use with its 3D printers; software with voxel level control; application-based services; on-demand parts; and key partnerships. 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

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements
New Accounting Pronouncements	Note 2. New Accounting Pronouncements Accounting Pronouncements Adopted in the Current Period In February 2017, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which applies to the derecognition of nonfinancial assets and in substance nonfinancial assets to noncustomers, including partial sales, unless other specific guidance applies. The new ASU does not apply to the derecognition of businesses or financial assets, or to contracts with customers. According to the new ASU, when an entity transfers its controlling interest in a nonfinancial asset, but retains a non-controlling ownership interest in the respective nonfinancial asset, the entity will measure the retained interest at fair value. This will result in gain or loss recognition upon the sale of a controlling interest in a nonfinancial asset. As a result of these changes, the same accounting treatment will be applied to a transfer of a nonfinancial asset in exchange for the non-controlling ownership interest in another entity or other consideration. Previous guidance generally prohibited gain recognition on the retained interest. The Company adopted this guidance on January 1, 2018, which resulted in no material operations. 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 Company adopted this guidance in the first quarter of 2018 utilizing the retrospective transition method. The adoption of this ASU did not have a material impact on its consolidated financial statements. 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 Company has adopted this guidance on January 1, 2018, utilizing the modified retrospective method , In January 2016, the FASB issued an ASU which effects that affect an In May 2014, and in following related amendments, the FASB issued a new comprehensive revenue recognition guidance on revenue from contracts with customers (hereinafter “Standard certain of as an asset is Recently Issued Accounting Pronouncements Not Yet Adopted In August 2017, the FASB issued a new ASU which expands the activities that may be eligible to qualify for hedge accounting, simplifies the rules for reporting hedging transactions and better portrays years 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. In addition, this guidance requires disclosure of key information about leasing arrangements to increase transparency and comparability among organizations. The new standard is effective for fiscal years

Business Activities

Business Activities	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Business Activities	Note 3. Business Activities In March 2018, the Company, jointly with certain employees and one of the Company's board members, formed an entity for one of its research and development projects ("Evolve"). Evolve is considered a variable interest entity. The Company does not consolidate the results of operations of Evolve, commencing March 2018, as the Company no longer holds the power to direct the activities that most significantly affect the economic performance of Evolve. Following this transaction, the Company transferred cash, long-lived assets and the related IP into Evolve and retained a minority In March 2018, as part of its continuous efforts to rationalize it operating model, the Company sold one of its facilities (which included land and building) in Eden Prairie, Minnesota for a total consideration of approximately $3.7 million in cash. As a result of the sale of its facility, the Company recognized a gain of approximately $1.6 million included in selling, general and administrative expenses.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories Inventories, net consisted of the following: March 31, December 31, 2018 2017 U.S. $ in thousands Finished goods $ 67,910 $ 63,234 Work-in-process 2,770 2,271 Raw materials 49,385 50,212 $ 120,065 $ 115,717

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 5. Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of the Company’s goodwill for the three-months ended March 31, 2018 were as follows: U.S. $ in millions Goodwill as of January 1, 2018 $ 387.1 Translation differences 0.3 Goodwill as of March 31, 2018 $ 387.4 During the fourth quarter of 2017, the Company performed a quantitative assessment for goodwill impairment for its Stratasys-Objet reporting unit. Following its quantitative assessment, the Company concluded that the fair value of its in an amount When evaluating the fair value of its flows were based on, among other factors, s; that utilized that was estimates, the Company A hypothetical decrease in the growth rate of 1% or an increase of 1% to the discount rate would have reduced the fair value of Stratasys-Objet reporting unit by approximately $48 million and $88 million, respectively. Based on the Company’s assessment as of December 31, 2017, no goodwill was determined to be impaired. During the first quarter of 2018 the Company reaffirmed that no significant events or circumstances occurred that contradict the assumptions and data used in the annual impairment test performed in the fourth quarter of 2017. Determining the fair value of the as deterioration , significant adjustments to the Company’ Other Intangible Assets Other intangible assets consisted of the following: March 31, 2018 December 31, 2017 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 $ 303,402 $ (224,922 ) $ 78,480 $ 304,601 $ (220,420 ) $ 84,181 Patents 18,512 (14,115 ) $ 4,397 19,708 (14,279 ) 5,429 Trademarks and trade names 27,271 (18,590 ) $ 8,681 27,248 (18,245 ) 9,003 Customer relationships 106,364 (65,766 ) $ 40,598 106,203 (63,435 ) 42,768 Capitalized software development costs 19,541 (18,886 ) $ 655 19,541 (18,800 ) 741 $ 475,090 $ (342,279 ) $ 132,811 $ 477,301 $ (335,179 ) $ 142,122 Amortization expense relating to intangible assets for the three-month periods ended March 31, 2018 and 2017 was approximately $8.1 million and $8.7 million, respectively. As of March 31, 2018, the 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 9 months of 2018 $ 24,251 2019 31,964 2020 31,627 2021 31,056 2022 9,921 Thereafter 3,992 Total 132,811

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Revenue Recognition	Note 6. Revenue Recognition Effective January 1, 2018, the Company adopted the new accounting standard related to the recognition of revenue in contracts with customers using the modified retrospective transition method applied to those contracts which were not completed as of January 1, 2018. Accordingly, results for reporting periods beginning after January 1, 2018 are presented under the new accounting standard, while prior period amounts have not been adjusted and continue to be reported in accordance with the previous revenue recognition guidance. The impact to revenue and results of operations for the three months ended March 31, 2018 compared to the same period in 2017 was not material. The Company derives revenues from sales of additive manufacturing systems, consumables and services. The Company sells its products directly through its sales force and independent sales agents and indirectly through authorized resellers. The Company determines revenue recognition through the following steps: ● Identification of the contract, or contracts, with a customer ● Identification of the performance obligations in the contract ● Determination of the transaction price ● Allocation of the transaction price to the performance obligations in the contract ● Recognition of revenue when, or as, the Company satisfies a performance obligation Revenue is measured as the amount of consideration expected to receive in exchange for transferring goods or providing services to the end customer or to the reseller. The amount of consideration is usually at fixed price at the contract inception. Taxes assessed by various government entities, such as sales, use and value-added taxes, collected at the time of sale are excluded from revenue. Shipping and handling costs billed to customers are included in revenue. Revenue from products, which consist systems and consumables, is recognized when the customer or the reseller has obtained control of the goods, in most cases in point in time based on the shipping terms. The Company recognizes revenue on sales to resellers when the reseller has economic substance apart from the Company and the reseller is considered the principal for the transaction with the end-user client. Service revenue derive from service type warranty and from the Company's direct manufacturing parts services. Revenue from service type warranty under contract is recognized ratably on a straight-line basis over the time of the service, as control is transferred over time or as services are performed if not under contract. For direct manufacturing parts, control is transferred at a point in time, usually upon shipment of the parts. For multiple performance obligations arrangements, such as when selling a system with a service type warranty, the Company accounts for the individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price ("SSP") basis and revenue is recognized for each performance obligation when control has passed. In most cases, the Company is able to establish SSP based on the observable prices of services sold separately in comparable circumstances to similar clients and for products based on the Company's best estimates of the price at which the Company would have sold the product regularly on a stand-alone basis. change. In assessing collectability as part of the revenue recognition process, the Company considers a number of factors in the evaluation of the creditworthiness of the customer, including past due amounts, payment history and financial condition. In some cases where collectability is not assured, payment terms are set partially or entirely as prepayment or customers may be required to furnish letters of credit. Deferred Revenues and Contract Assets The following table reflects the changes in our deferred revenue as of March 31, 2018: March 31, December 31, 2018 2017 U.S. $ in thousands Deferred revenue * 70,200 68,108 * Includes $15.1 million and $15.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2018 and December 31, 2017, respectively. The Company provides customers with an initial service type warranty, usually for a period of one to three years, and defers a portion of the revenue from the related printer at the time of the sale. The Company also offers customers an option to purchase an additional service type warranty via a contract ranging generally from one to three years. Deferred maintenance revenue is recognized ratably, on a straight -line basis, over the period of the service. Deferred revenues are derived mainly from these service type warranty contracts. Revenue recognized in the three month ended March 31, 2018 that was included in deferred revenue balance as of January 1, 2018 was $19.2 million. The Company expects to recognize revenue from deferred revenues in amounts of approximately $55.1 million in the next 12 month, $9.9 million in second year, and $5.2 million thereafter. Contract assets are recorded when the Company's right to consideration is conditional on constraints other than passage of time. The Company had no material contract assets as of March 31, 2018. Incremental Costs of Obtaining a Contract Sales commissions earned mainly by the Company sales agents are considered incremental costs of obtaining a contract with a customer. The majority of the Sales commissions are not subject to capitalization as the commission expense is recognized as the related revenue is recognized. Sales commissions for initial contracts related to the service type warranty are deferred and then amortized on a straight-line basis over the expected customer relationship period if the Company expects to recover those costs. The Company determined the period of benefit by taking into consideration customer contracts including renewals, the technology and other factors. Amortization expense is included in Selling, general and administrative expenses on the consolidated statements of operations. The Company recorded the cumulative effect of deferred commission as an adjustment to the opening balance of retained earnings in the amount of $1.4 million. As of March 31, 2018, the deferred commission amounted to $1.7 million.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Loss Per Share	Note 7. 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, 2018 and 2017: Three months ended March 31, 2018 2017 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share $ (13,041 ) $ (13,857 ) Denominator: Weighted average shares – denominator for basic and diluted net loss per share 53,657 52,690 Net loss per share attributable to Stratasys Ltd. Basic $ (0.24 ) $ (0.26 ) Diluted $ (0.24 ) $ (0.26 ) The computation of diluted net loss per share excluded share awards of 3.3 million shares and 2.5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Company had a negative effective tax rate of 9.3% for the three-month period ended March 31, 2018 compared to a negative effective tax rate of 10.7% for the three-month period ended March 31, 2017. The Company’s effective tax rate was primarily impacted by different geographic mixes

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9. 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, in its consolidated balance sheets: March 31, 2018 December 31, 2017 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 158 $ 90 Foreign exchange forward contracts designated as hedging instruments 24 263 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (1,140 ) (921 ) Foreign exchange forward contracts designated as hedging instruments (20 ) - $ (978 ) $ (568 ) 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.

Derivative instruments and hedg

Derivative instruments and hedging activities	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Note 10. Derivative instruments and hedging activities Since 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 and the Japanese Yen. The gains and losses on the hedging instruments partially offset losses and gains on the hedged items. Financial markets and currency volatility may limit the Company’s ability to hedge these exposures. The following table summarizes the 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 2018 2017 2018 2017 U. S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 121 $ 90 $ 35,453 $ 22,036 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 24 263 7,788 13,169 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (1,103 ) (921 ) 48,018 65,668 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (20 ) - 8,460 - $ (978 ) $ (568 ) $ 99,719 $ 100,873 As of March 31, 2018, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $83.5 million , related to or foreign currencies of the items. These foreign currencies revaluation changes As of March 31, 2018, the Company had in effect foreign exchange forward contracts, designated as cash flow hedge for accounting purposes, for the conversion of $16.2 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 September 2018.

Equity

Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Equity	Note 11. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options and RSUs were allocated as follows: Three Months Ended March 31, 2018 2017 U.S. $ in thousands Cost of sales $ 387 $ 643 Research and development, net 742 849 Selling, general and administrative 2,286 2,412 Total stock-based compensation expenses $ 3,415 $ 3,904 A summary of the Company’s stock option activity for the three months ended March 31, 2018 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2018 3,330,953 $ 31.53 Exercised (17,402 ) 17.26 Forfeited (187,859 ) 27.93 Options outstanding as of March 31, 2018 3,125,692 $ 31.83 Options exercisable as of March 31, 2018 1,408,599 $ 43.15 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. During the three-month periods ended March 31, 2018 and 2017, the Company issued 17,402 shares and 35,769 shares, respectively, upon the exercise of stock options. This resulted in an increase in equity of $0.3 million and $0.5 million for the three-month periods ended March 31, 2018 and 2017, respectively. As of March 31, 2018, the unrecognized compensation cost of $18.8 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 2.6 years. A summary of the Company’s RSUs activity for the three months ended March 31, 2018 is as follows: Weighted Average Grant Number of RSUs Date Fair Value Unvested RSUs outstanding as of January 1, 2018 302,163 $ 30.88 Forfeited (17,569 ) 33.41 Vested (60,317 ) 30.58 Unvested RSUs outstanding as of March 31, 2018 224,277 $ 30.22 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 March 31, 2018, the unrecognized compensation cost of $5.2 million related to all unvested, equity-classified RSUs is expected to be recognized as expense over a weighted-average period of 2.6 years. b. Accumulated other comprehensive loss The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2018 and 2017, respectively: Three months ended March 31, 2018 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2018 $ 330 $ (7,353 ) $ (7,023 ) Other comprehensive income (loss) (90 ) 2,011 1,921 Amounts reclassified from accumulated other comprehensive loss (235 ) - (235 ) Other comprehensive income (loss) (325 ) 2,011 1,686 Balance as of March 31, 2018 $ 5 $ (5,342 ) $ (5,337 ) Three month s ended March 31, 20 17 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 (loss) before reclassifications 793 713 1,506 Amounts reclassified from accumulated other comprehensive loss (270 ) - (270 ) Other comprehensive income 523 713 1,236 Balance as of March 31, 2017 $ 499 $ (12,742 ) $ (12,243 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 12. Contingencies Patent Law-Based Claim On November 23, 2017, a former employee, whose employment had been terminated by the Company in 2008 and who had previously unsuccessfully filed a suit against the Company, brought an additional proceeding against the Company under Section 134 of the Israeli Patent Law seeking compensation and royalties for service inventions he invented while he served as an employee of the Company. In this new proceeding, the former employee claims to be entitled to receive royalties in an amount equal to: (a) 20% of the benefits, revenues and /or savings generated by the Company in the past and in the future, including the rise in the value of the Company, as determined in the merger with Stratasys Inc., which took place in December 2012; (b) 20% of the gross profit generated by the Company in the past and 9% of the gross profit produced and that will be produced by the Company; (c) 20% of the gross profit generated by the Company in the past and the relative share of the former Objet entity of the Company in the total gross profit produced and that will be produced by the Company; or (d) 20% of the value of the service inventions at issue. The former employee further sought an order of accounts. The Company rejects the claims that serve as a basis for the proceeding and intends to defend against them vigorously. 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)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, net consisted of the following: March 31, December 31, 2018 2017 U.S. $ in thousands Finished goods $ 67,910 $ 63,234 Work-in-process 2,770 2,271 Raw materials 49,385 50,212 $ 120,065 $ 115,717

Goodwill and Other Intangible19

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 were as follows: U.S. $ in millions Goodwill as of January 1, 2018 $ 387.1 Translation differences 0.3 Goodwill as of March 31, 2018 $ 387.4
Schedule of Other Intangible Assets	Other intangible assets consisted of the following: March 31, 2018 December 31, 2017 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 $ 303,402 $ (224,922 ) $ 78,480 $ 304,601 $ (220,420 ) $ 84,181 Patents 18,512 (14,115 ) $ 4,397 19,708 (14,279 ) 5,429 Trademarks and trade names 27,271 (18,590 ) $ 8,681 27,248 (18,245 ) 9,003 Customer relationships 106,364 (65,766 ) $ 40,598 106,203 (63,435 ) 42,768 Capitalized software development costs 19,541 (18,886 ) $ 655 19,541 (18,800 ) 741 $ 475,090 $ (342,279 ) $ 132,811 $ 477,301 $ (335,179 ) $ 142,122
Schedule of Estimated Amortization Expense Relating to Intangible Assets	As of March 31, 2018, the 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 9 months of 2018 $ 24,251 2019 31,964 2020 31,627 2021 31,056 2022 9,921 Thereafter 3,992 Total 132,811

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Schedule of Changes in Deferred Revenue	The following table reflects the changes in our deferred revenue as of March 31, 2018: March 31, December 31, 2018 2017 U.S. $ in thousands Deferred revenue * 70,200 68,108 * Includes $15.1 million and $15.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2018 and December 31, 2017, respectively.

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
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, 2018 and 2017: Three months ended March 31, 2018 2017 In thousands, except per share amounts Numerator: Net loss attributable to Stratasys Ltd. for basic and diluted loss per share $ (13,041 ) $ (13,857 ) Denominator: Weighted average shares – denominator for basic and diluted net loss per share 53,657 52,690 Net loss per share attributable to Stratasys Ltd. Basic $ (0.24 ) $ (0.26 ) Diluted $ (0.24 ) $ (0.26 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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, in its consolidated balance sheets: March 31, 2018 December 31, 2017 (U.S. $ in thousands) Assets: Foreign exchange forward contracts not designated as hedging instruments $ 158 $ 90 Foreign exchange forward contracts designated as hedging instruments 24 263 Liabilities: Foreign exchange forward contracts not designated as hedging instruments (1,140 ) (921 ) Foreign exchange forward contracts designated as hedging instruments (20 ) - $ (978 ) $ (568 )

Derivative instruments and he23

Derivative instruments and hedging activities (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of balance sheet classification and fair values of derivative instruments	The following table summarizes the 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 2018 2017 2018 2017 U. S. $ in thousands Assets derivatives -Foreign exchange contracts, not designated as hedging instruments Other current assets $ 121 $ 90 $ 35,453 $ 22,036 Assets derivatives -Foreign exchange contracts, designated as cash flow hedge Other current assets 24 263 7,788 13,169 Liability derivatives -Foreign exchange contracts, not designated as hedging instruments Accrued expenses and other current liabilities (1,103 ) (921 ) 48,018 65,668 Liability derivatives -Foreign exchange contracts, designated as hedging instruments Accrued expenses and other current liabilities (20 ) - 8,460 - $ (978 ) $ (568 ) $ 99,719 $ 100,873

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 U.S. $ in thousands Cost of sales $ 387 $ 643 Research and development, net 742 849 Selling, general and administrative 2,286 2,412 Total stock-based compensation expenses $ 3,415 $ 3,904
Summary of Stock Options Activity	A summary of the Company’s stock option activity for the three months ended March 31, 2018 is as follows: Weighted Average Number of Options Exercise Price Options outstanding as of January 1, 2018 3,330,953 $ 31.53 Exercised (17,402 ) 17.26 Forfeited (187,859 ) 27.93 Options outstanding as of March 31, 2018 3,125,692 $ 31.83 Options exercisable as of March 31, 2018 1,408,599 $ 43.15
Summary of RSUs activity	A summary of the Company’s RSUs activity for the three months ended March 31, 2018 is as follows: Weighted Average Grant Number of RSUs Date Fair Value Unvested RSUs outstanding as of January 1, 2018 302,163 $ 30.88 Forfeited (17,569 ) 33.41 Vested (60,317 ) 30.58 Unvested RSUs outstanding as of March 31, 2018 224,277 $ 30.22
Schedule of Accumulated other comprehensive income (loss)	The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2018 and 2017, respectively: Three months ended March 31, 2018 Net unrealized gain Foreign currency (loss) on cash flow translation hedges adjustments Total U.S. $ in thousands Balance as of January 1, 2018 $ 330 $ (7,353 ) $ (7,023 ) Other comprehensive income (loss) (90 ) 2,011 1,921 Amounts reclassified from accumulated other comprehensive loss (235 ) - (235 ) Other comprehensive income (loss) (325 ) 2,011 1,686 Balance as of March 31, 2018 $ 5 $ (5,342 ) $ (5,337 ) Three month s ended March 31, 20 17 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 (loss) before reclassifications 793 713 1,506 Amounts reclassified from accumulated other comprehensive loss (270 ) - (270 ) Other comprehensive income 523 713 1,236 Balance as of March 31, 2017 $ 499 $ (12,742 ) $ (12,243

New Accounting Pronouncements (

New Accounting Pronouncements (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
New Accounting Pronouncements
Increase in retained earnings effect on deferred taxs balance for cumulative-effect adjustment	$ 2.1
Increase in retained earnings effect on other non-current assets for the cumulative-effect adjustments	$ 1.4

Business Activities (Details)

Business Activities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Evolve [Member]
Business Acquisition [Line Items]
Non-cash Charges	$ 1.6
Share losses of associated companies due to the write-off of in-process research and development project	5
Eden Prairie [Member]
Business Acquisition [Line Items]
Total consideration	3.7
Gain on sale of facility	$ 1.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 67,910	$ 63,234
Work-in-process	2,770	2,271
Raw materials	49,385	50,212
Total Inventory	$ 120,065	$ 115,717

Goodwill and Other Intangible28

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Amortization of intangible assets	$ 8.1	$ 8.7
Stratasys-Objet reporting unit [Member]
Expected cash flow period	5 years
Growth rate (as a percent)	3.10%
Discount rate (as a percent)	14.00%
Percentage of carrying amount exceeds	7.00%
Allocated goodwill	$ 387
Hypothetical decrease in the growth rate of 1%	48
Hypothetical increase in the growth rate of 1%	$ 88

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets (Schedule of Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill as of January 1, 2018	$ 387,108
Translation differences	300
Goodwill as of March 31, 2018	$ 387,416

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 475,090	$ 477,301
Accumulated Amortization	(342,279)	(335,179)
Net Book Value	132,811	142,122
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	303,402	304,601
Accumulated Amortization	(224,922)	(220,420)
Net Book Value	78,480	84,181
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,512	19,708
Accumulated Amortization	(14,115)	(14,279)
Net Book Value	4,397	5,429
Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	27,271	27,248
Accumulated Amortization	(18,590)	(18,245)
Net Book Value	8,681	9,003
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	106,364	106,203
Accumulated Amortization	(65,766)	(63,435)
Net Book Value	40,598	42,768
Capitalized software development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,541	19,541
Accumulated Amortization	(18,886)	(18,800)
Net Book Value	$ 655	$ 741

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense Relating to Intangible Assets) (Details) $ in Thousands	Mar. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 9 months of 2018	$ 24,251
2,019	31,964
2,020	31,627
2,021	31,056
2,022	9,921
Thereafter	3,992
Net Book Value	$ 132,811

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Deferred Revenue Arrangement [Line Items]
Revenue recognized	$ 19,200
Deferred revenue noncurrent portion	15,139	$ 15,200
Increase in retained earnings effect on other non-current assets for the cumulative-effect adjustments	1,400
Deferred sales commissions		$ 1,700
Next 12 Months [Member]
Deferred Revenue Arrangement [Line Items]
Revenue recognized	55,100
Second Year [Member]
Deferred Revenue Arrangement [Line Items]
Revenue recognized	9,900
There after [Member]
Deferred Revenue Arrangement [Line Items]
Revenue recognized	$ 5,200

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Changes in deferred revenue) (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Revenue Recognition [Abstract]
Deferred revenue	[1]	$ 70,200	$ 68,108
[1]	Includes $15.1 million and $15.2 million under long term deferred revenue in the Company's consolidated balance sheets as of March 31, 2018 and December 31, 2017, respectively.

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	3,300,000	2,500,000

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, 2018	Mar. 31, 2017
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$ (13,041)	$ (13,857)
Denominator:
Weighted average shares - denominator for basic and diluted net loss per share	53,657	52,690
Net loss per share attributable to Stratasys Ltd.
Basic	$ (0.24)	$ (0.26)
Diluted	$ (0.24)	$ (0.26)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	9.30%	10.70%

Fair Value Measurement (Schedul

Fair Value Measurement (Schedule of Fair Value Measurements) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (978)	$ (568)
Foreign Exchange Future [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	158	90
Derivative liabilities	(1,140)	(921)
Foreign Exchange Future Two [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	24	263
Derivative liabilities	$ (20)

Derivative instruments and he38

Derivative instruments and hedging activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	$ 83.5
Gain (Loss) on derivative instrument	2.3	$ 0.3
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	$ 16.2

Derivatives and Hedging Activit

Derivatives and Hedging Activities (Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 83,500
Fair value	(978)	$ (568)
Notional amount	99,719	100,873
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Fair value derivative asset	121	90
Notional amount of derivative asset	35,453	22,036
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	(1,103)	(921)
Notional amount of derivative liability	48,018	65,668
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	24	263
Notional amount of derivative asset	7,788	13,169
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	(20)
Notional amount of derivative liability	$ 8,460

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options exercised	17,402	35,769
Increase in equity	$ 0.3	$ 0.5
Stock option term	10 years
Vesting period	4 years
Unrecognized compensation cost	$ 18.8
Weighted average period for recognition	2 years 7 months 6 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 5.2
Weighted average period for recognition	2 years 7 months 6 days

Equity (Schedule of Stock-based

Equity (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 3,415	$ 3,904
Cost of sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	387	643
Research and development, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	742	849
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 2,286	$ 2,412

Equity (Schedule of Stock Optio

Equity (Schedule of Stock Option Activity) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of Options
Balance, beginning	3,330,953
Exercised	(17,402)	(35,769)
Forfeited	(187,859)
Balance, ending	3,125,692
Exercisable	1,408,599
Weighted Average Exercise Price
Balance, beginning	$ 31.53
Exercised	17.26
Forfeited	27.93
Balance, ending	31.83
Exercisable	$ 43.15

Equity (Summary of RSUs activit

Equity (Summary of RSUs activity) (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Number of RSUs
Unvested RSUs outstanding, beginning | shares	302,163
Forfeited | shares	(17,569)
Vested | shares	(60,317)
Unvested RSUs outstanding, ending | shares	224,277
Weighted Average Grant Date Fair Value
Unvested RSUs outstanding, beginning | $ / shares	$ 30.88
Forfeited | $ / shares	33.41
Vested | $ / shares	30.58
Unvested RSUs outstanding, ending | $ / shares	$ 30.22

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	$ (7,023)	$ (13,479)
Other comprehensive income (loss) before reclassifications	1,921	1,506
Amounts reclassified from accumulated other comprehensive loss	(235)	(270)
Other comprehensive income (loss)	1,686	1,236
Balance as of end of period	(5,337)	(12,243)
Net unrealized gain (loss) on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	330	(24)
Other comprehensive income (loss) before reclassifications	(90)	793
Amounts reclassified from accumulated other comprehensive loss	(235)	(270)
Other comprehensive income (loss)	(325)	523
Balance as of end of period	5	499
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of beginning of period	(7,353)	(13,455)
Other comprehensive income (loss) before reclassifications	2,011	713
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income (loss)	2,011	713
Balance as of end of period	$ (5,342)	$ (12,742)