XML 58 R41.htm IDEA: XBRL DOCUMENT v3.3.1.900
Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Changes In Accumulated Other Comprehensive Income By Components
 
 
Unrealized gains (losses) on derivative instruments
 
Unrealized gains (losses) on available-for-sale marketable securities
 
Pension and post-retirement benefit plans
 
Foreign currency translation differences
 
Total
Balance as of December 31, 2014
 
$
(22,112
)
 
$
87

 
$
(54,643
)
 
$
(19,915
)
 
$
(96,583
)
Other comprehensive income (loss) before reclassifications
 
7,309

 
2

 
4,063

 
(13,492
)
 
(2,118
)
Amount reclassified from accumulated other comprehensive income (loss)
 
23,323

 
(61
)
 
3,829

 
—

 
27,091

Net current-period other comprehensive loss
 
30,632

 
(59
)
 
7,892

 
(13,492
)
 
24,973

Balance as of December 31, 2015
 
$
8,520

 
$
28

 
$
(46,751
)
 
$
(33,407
)
 
$
(71,610
)

 
 
Unrealized gains (losses) on derivative instruments
 
Unrealized gains (losses) on available-for-sale marketable securities
 
Pension and post-retirement benefit plans
 
Foreign currency translation differences
 
Total
Balance as of December 31, 2013
 
$
(1,530
)
 
$
287

 
$
(25,433
)
 
$
1,457

 
$
(25,219
)
Other comprehensive income before reclassifications
 
(25,079
)
 
70

 
(30,439
)
 
(21,372
)
 
(76,820
)
Amount reclassified from accumulated other comprehensive income (loss)
 
4,497

 
(270
)
 
1,229

 
—

 
5,456

Net current-period other comprehensive loss
 
(20,582
)
 
(200
)
 
(29,210
)
 
(21,372
)
 
(71,364
)
Balance as of December 31, 2014
 
$
(22,112
)
 
$
87

 
$
(54,643
)
 
$
(19,915
)
 
$
(96,583
)
Schedule Of Estimated Useful Life Of Assets
Depreciation is calculated by the straight-line method over the estimated useful life of the assets at the following annual rates:

 
%
 
 
Buildings and leasehold improvements (*)
2-20
 
 
Instruments, machinery and equipment
3-33
 
 
Office furniture and other
4-33
 
 
Motor vehicles
12-33
 
(Mainly 15%)


(*) 
Prepayments for operating leases and leasehold improvements are amortized generally over the term of the lease or the useful life of the assets, whichever is shorter. 
Schedule Of Warranty Liability
Changes in the Company’s provision for warranty, which is included mainly in other payables and accrued expenses in the Balance Sheet, are as follows:
 
2015
 
2014
Balance, at January 1
$
197,463

 
$
179,077

Warranties issued during the year
78,344

 
88,244

Reduction due to warranties forfeited or claimed during the year
(90,531
)
 
(69,858
)
Additions resulting from acquisitions
6,672

 
—

Balance, at December 31
$
191,948

 
$
197,463
Schedule Of Employee Stock Options On Estimated Weighted Average Assumptions
The fair value based cost of employee stock options is estimated at the grant date using a lattice-based option valuation model with the following weighted average assumptions:
 
2015 (*)
 
2014 (*)
 
2013
Dividend yield
—

 
—

 
2.56
%
Expected volatility
—

 
—

 
34.29
%
Risk-free interest rate
—

 
—

 
0.87
%
Expected life
—

 
—

 
4 years

Forfeiture rate
—

 
—

 
0.56
%
Suboptimal factor
—

 
—

 
1.75

 
 
 
 
 
 
(*) During 2015 and 2014 there were no grants.
 
 
 
 
 
Schedule Of Assets And Liabilities Measured At Fair Value On Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized below:
 
Fair value measurement at
 
December 31, 2015 using
 
Quoted Prices
in Active
Markets for
Identical Assets
 (Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Description of Assets
 
 
 
 
 
Available-for-sale marketable securities:
 
 
 
 
 
  Government bonds
$
880

 
$
—

 
$
—

  Corporate bonds
—

 
11,956

 
—

Foreign currency derivatives and option contracts
—

 
16,679

 
—

Cross-currency interest rate swap
—

 
10,858

 
—

Liabilities
 

 
 

 
 

Foreign currency derivative and option contracts
—

 
(8,289
)
 
—

Cross-currency interest rate swap
—

 
(2,266
)
 
—

Total
$
880

 
$
28,938

 
$
—

 
 
Fair value measurement at
 
December 31, 2014 using
 
Quoted Prices
in Active
Markets for
Identical Assets
 (Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Description of Assets
 
 
 
 
 
Available-for-sale marketable securities:
 
 
 
 
 
  Government bonds
$
1,465

 
$
—

 
$
—

  Corporate bonds
—

 
24,685

 
—

Foreign currency derivatives and option contracts
—

 
13,558

 
—

Cross-currency interest rate swap
—

 
12,730

 
—

Liabilities
 

 
 

 
 

Foreign currency derivative and option contracts
—

 
(40,313
)
 
—

Cross-currency interest rate swap
—

 
(4,529
)
 
—

Total
$
1,465

 
$
6,131

 
$
—