0001206774-17-003146.txt : 20171114 0001206774-17-003146.hdr.sgml : 20171114 20171114135650 ACCESSION NUMBER: 0001206774-17-003146 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 52 CONFORMED PERIOD OF REPORT: 20171114 FILED AS OF DATE: 20171114 DATE AS OF CHANGE: 20171114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRATASYS LTD. CENTRAL INDEX KEY: 0001517396 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35751 FILM NUMBER: 171200340 BUSINESS ADDRESS: STREET 1: 7665 COMMERCE WAY CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 972-8-931-4314 MAIL ADDRESS: STREET 1: 2 Holtzman Street STREET 2: Science Park, P.O. Box 2496 CITY: Rehovot STATE: l3 ZIP: 76124 FORMER COMPANY: FORMER CONFORMED NAME: OBJET LTD DATE OF NAME CHANGE: 20111118 FORMER COMPANY: FORMER CONFORMED NAME: OBJET GEOMETRIES LTD DATE OF NAME CHANGE: 20110405 6-K 1 stratasys31410914-6k.htm CURRENT REPORT OF FOREIGN ISSUER

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of November 2017

Commission File Number 001-35751

STRATASYS LTD.
(Translation of registrant’s name into English)

c/o Stratasys, Inc.	1 Holtzman Street, Science Park
7665 Commerce Way	P.O. Box 2496
Eden Prairie, Minnesota 55344	Rehovot, Israel 76124
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):____

The contents of this Report of Foreign Private Issuer on Form 6-K (this “Form 6-K”), including Exhibits 99.1, 99.2 and 101 annexed hereto, are incorporated by reference into the Registrant’s registration statements on Form S-8, SEC file numbers 333-185240 and 333-190963, filed by the Registrant with the SEC on December 3, 2012 and September 3, 2013, respectively, and shall be a part thereof from the date on which this Form 6-K is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

CONTENTS

On November 14, 2017, Stratasys Ltd., or Stratasys, released its financial results for the three and nine months ended September 30, 2017.

Attached hereto as Exhibit 99.1 are the unaudited, condensed consolidated financial statements of Stratasys for the three and nine months ended September 30, 2017 (including the notes thereto) (the “Q3 2017 Financial Statements”).

Attached hereto as Exhibit 99.2 is Stratasys’ review of its results of operations and financial condition for the three and nine months ended September 30, 2017, including the following:

(i) Operating and Financial Review and Prospects
(ii) Quantitative and Qualitative Disclosures About Market Risk
(iii) Legal Proceedings Update

Attached hereto as Exhibit 101 are the Q3 2017 Financial Statements, formatted in XBRL (eXtensible Business Reporting Language), consisting of the following sub-exhibits:

Exhibit Number		Document Description
EX-101.INS		XBRL Taxonomy Instance Document
EX-101.SCH		XBRL Taxonomy Extension Schema Document
EX-101.CAL		XBRL Taxonomy Calculation Linkbase Document
EX-101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
EX-101.LAB		XBRL Taxonomy Label Linkbase Document
EX-101.PRE		XBRL Taxonomy Presentation Linkbase Document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	STRATASYS LTD.
Dated: November 14, 2017	By:	/s/ Lilach Payorski
	Name:	Lilach Payorski
	Title:	Chief Financial Officer

EX-99.1 2 stratasys31410914-ex991.htm CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Exhibit 99.1

STRATASYS LTD.

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED

SEPTEMBER 30, 2017

(UNAUDITED)

INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2017
(UNAUDITED)

Item		Page
Consolidated Balance Sheets		2
Consolidated Statements of Operations and Comprehensive Loss		3
Consolidated Statements of Cash Flows		4
Notes to Condensed Consolidated Financial Statements		5-15

STRATASYS LTD.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Consolidated Balance Sheets
(in thousands, except share data)
	September 30, 2017			December 31, 2016
ASSETS
Current assets
Cash and cash equivalents	$	302,795		$	280,328
Accounts receivable, net		120,504			120,411
Inventories		124,056			117,521
Net investment in sales-type leases		8,499			11,717
Prepaid expenses		7,167			7,571
Other current assets		19,635			15,491
Total current assets		582,656			553,039
Non-current assets
Net investment in sales-type leases - long-term		5,844			12,126
Property, plant and equipment, net		202,995			208,415
Goodwill		386,887			385,629
Other intangible assets, net		152,807			177,458
Other non-current assets		32,137			29,382
Total non-current assets		780,670			813,010
Total assets	$	1,363,326		$	1,366,049

LIABILITIES AND EQUITY

Current liabilities
Accounts payable	$	44,490		$	40,933
Current portion of long-term debt		3,714			3,714
Accrued expenses and other current liabilities		28,486			32,207
Accrued compensation and related benefits		34,338			34,186
Obligations in connection with acquisitions		-			3,619
Deferred revenues		51,834			49,952
Total current liabilities		162,862			164,611
Non-current liabilities
Long-term debt		19,500			22,286
Deferred tax liabilities		2,625			5,952
Deferred revenues - long-term		14,181			12,922
Other non-current liabilities		28,682			22,251
Total non-current liabilities		64,988			63,411
Total liabilities	$	227,850		$	228,022
Contingencies (see note 9)
Redeemable non-controlling interests		1,721			2,029
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 53,202 thousands shares and 52,639 thousands shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively		143			142
Additional paid-in capital		2,655,754			2,633,129
Accumulated other comprehensive loss		(8,276	)		(13,479	)
Accumulated deficit		(1,513,926	)		(1,483,925	)
Equity attributable to Stratasys Ltd.		1,133,695			1,135,867
Non-controlling interests		60			131
Total equity		1,133,755			1,135,998
Total liabilities and equity	$	1,363,326		$	1,366,049

The accompanying notes are an integral part of these consolidated financial statements.

STRATASYS LTD.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Consolidated Statements of Operations and Comprehensive Loss
	Three Months Ended September 30,						Nine Months Ended September 30,
in thousands, except per share data	2017			2016			2017			2016
Net sales
Products	$	108,401		$	110,083		$	344,509		$	352,475
Services		47,466			47,093			144,510			144,680
		155,867			157,176			489,019			497,155

Cost of sales
Products		49,840			54,332			159,043			172,683
Services		30,788			29,163			94,465			90,090
		80,628			83,495			253,508			262,773

Gross profit		75,239			73,681			235,511			234,382

Operating expenses
Research and development, net		21,767			23,993			69,652			73,474
Selling, general and administrative		60,280			69,069			189,028			218,340
Change in fair value of obligations in connection with acquisitions		65			(24	)		1,378			116
		82,112			93,038			260,058			291,930

Operating loss		(6,873	)		(19,357	)		(24,547	)		(57,548	)

Financial income (expense), net		(305	)		104			380			1,216

Loss before income taxes		(7,178	)		(19,253	)		(24,167	)		(56,332	)

Income tax expenses		2,571			1,538			5,205			6,283

Share in loss of associated company		(489	)		(182	)		(1,006	)		(182	)

Net loss	$	(10,238	)	$	(20,973	)	$	(30,378	)	$	(62,797	)

Net loss attributable to non-controlling interests		(81	)		(146	)		(377	)		(339	)

Net loss attributable to Stratasys Ltd.	$	(10,157	)	$	(20,827	)	$	(30,001	)	$	(62,458	)

Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)

Weighted average ordinary shares outstanding - basic and diluted		53,012			52,432			52,827			52,232

Comprehensive loss
Net loss	$	(10,238	)	$	(20,973	)	$	(30,378	)	$	(62,797	)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		1,953			(704	)		5,103			(324	)
Unrealized gains on derivatives designated as cash flow hedges		(86	)		37			100			428
Other comprehensive income (loss), net of tax		1,867			(667	)		5,203			104
Comprehensive loss		(8,371	)		(21,640	)		(25,175	)		(62,693	)
Less: comprehensive loss attributable to non-controlling interests		(81	)		(146	)		(377	)		(339	)
Comprehensive loss attributable to Stratasys Ltd.	$	(8,290	)	$	(21,494	)	$	(24,798	)	$	(62,354	)

The accompanying notes are an integral part of these condensed consolidated financial statements.

STRATASYS LTD.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

Consolidated Statements of Cash Flows
	Nine Months Ended September 30,
in thousands	2017			2016
Cash flows from operating activities
Net loss	$	(30,378	)	$	(62,797	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		49,791			69,743
Stock-based compensation		14,133			15,886
Foreign currency transaction gain		(8,678	)		(4,260	)
Deferred income taxes		(3,086	)		(6,207	)
Change in fair value of obligations in connection with acquisitions		1,378			116
Impairment of other intangibles assets		-			1,779
Other items		2,279			1,706

Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net		3,218			15,194
Inventories		(5,984	)		(5,447	)
Net investment in sales-type leases		9,500			2,693
Other current assets and prepaid expenses		(1,053	)		1,355
Other non-current assets		540			792
Accounts payable		3,472			(1,250	)
Other current liabilities		(2,678	)		(6,989	)
Deferred revenues		1,706			937
Other non-current liabilities		6,706			12,768
Net cash provided by operating activities		40,866			36,019

Cash flows from investing activities
Purchase of property and equipment		(15,879	)		(31,689	)
Investment in unconsolidated entities		(2,548	)		(23,064	)
Purchase of intangible assets		(1,227	)		(1,128	)
Proceeds from maturities of short-term bank deposits		-			68,363
Investments in short-term bank deposits		-			(67,079	)
Other investing activities		(113	)		(212	)
Net cash used in investing activities		(19,767	)		(54,809	)

Cash flows from financing activities
Repayment of current portion of long-term debt		(2,786	)		-
Payments of obligations in connection with acquisitions		(1,476	)		(1,386	)
Proceeds from exercise of stock options		2,632			817
Net cash used in financing activities		(1,630	)		(569	)

Effect of exchange rate changes on cash and cash equivalents		2,998			1,112

Net change in cash and cash equivalents		22,467			(18,247	)
Cash and cash equivalents, beginning of period		280,328			257,592

Cash and cash equivalents, end of period	$	302,795		$	239,345

Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory		1,326			1,032
Transfer of inventory to fixed assets		4,248			4,309

The accompanying notes are an integral part of these condensed consolidated financial statements.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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”). In addition, the Company 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 nine months ended September 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 August 2017, the FASB issued an ASU which expands the activities that may be eligible to qualify for hedge accounting, simplifies the rules for reporting hedging transactions and better portray the economic results of risk management activities in the financial statements. It also amends certain presentation and disclosure requirements and eases certain hedge effectiveness assessment requirements. The new guidance is effective for fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new guidance on its consolidated financial statements.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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 January 2017, the FASB issued an ASU which revises the definition of a business and provides new guidance in evaluating whether transactions should be accounted for as an acquisition (or disposal) of assets or as a business combination. The definition of a business affects areas of accounting including acquisitions, disposals, goodwill and consolidation. Under this new guidance, if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, it may be treated as an asset acquisition (or disposal) rather than a business combination. The new guidance is effective for fiscal year beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new 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. 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 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.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

In May 2014, the FASB issued a new ASU which provides new comprehensive revenue recognition guidance on revenue from contracts with customers that will supersede the current revenue recognition guidance. The new revenue recognition standard (hereinafter “the Standard”) provides a unified model to determine when and how revenue is recognized. The core principle of the 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 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 in retained earnings as of the date of adoption (“modified retrospective approach”). The Company has developed a project plan to analyze the potential impact the Standard 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 evaluating potential differences that would result from applying the requirements under the Standard. The Company will adopt the Standard using the modified retrospective approach. Based on the analysis conducted to date, the Company does not expect a material change in its pattern of revenue recognition. The Company will continue to assess, throughout the remainder of 2017, the impact of the Standard’s expanded disclosure requirements and the Standard’s requirement to capitalize costs associated with obtaining customer contracts, including commission payments, which are currently expensed as incurred.

Note 2. Inventories

Inventories, net consisted of the following:

	September 30,		December 31,
	2017		2016
	U.S. $ in thousands
Finished goods	$	68,419	$	62,728
Work-in-process		2,300		2,389
Raw materials		53,337		52,404
	$	124,056	$	117,521

Note 3. Goodwill and Other Intangible Assets

Goodwill

Changes in the carrying amount of the Company’s goodwill for the nine-months ended September 30, 2017 were as follows:

	U.S. $ in millions
Goodwill as of January 1, 2017	$	385.6
Translation differences		1.3
Goodwill as of September 30, 2017	$	386.9

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Other Intangible Assets

Other intangible assets consisted of the following:

	September 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	$	(214,985	)	$	89,781	$	304,766	$	(198,632	)	$	106,134
Patents		20,180		(13,817	)		6,363		19,009		(12,257	)		6,752
Trademarks and trade names		27,829		(17,882	)		9,947		27,819		(16,849	)		10,970
Customer relationships		106,986		(61,104	)		45,882		106,571		(54,258	)		52,313
Capitalized software development costs		19,540		(18,706	)		834		19,540		(18,251	)		1,289
	$	479,301	$	(326,494	)	$	152,807	$	477,705	$	(300,247	)	$	177,458

Amortization expense relating to intangible assets for the three-month periods ended September 30, 2017 and 2016 was approximately $8.8 million and $14.7 million, respectively. Amortization expense relating to intangible assets for the nine-month periods ended September 30, 2017 and 2016 was approximately $26.1 million and $43.9 million, respectively. The decrease in amortization expense was primarily due to change in the estimated useful lives of certain intangibles assets.

As of September 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 3 months of 2017	$	8,680
2018		33,262
2019		32,391
2020		32,009
2021		31,415
Thereafter		15,050
Total		152,807

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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 nine months ended September 30, 2017 and 2016:

	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
	In thousands, except per share amounts
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$	(10,157	)	$	(20,827	)	$	(30,001	)	$	(62,458	)

Denominator:
Weighted average shares – denominator for basic and diluted net loss per share		53,012			52,432			52,827			52,232

Net loss per share attributable to Stratasys Ltd.
Basic	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)
Diluted	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)

The computation of diluted net loss per share excluded share awards of 4.2 million shares and 3.5 million shares for the three months ended September 30, 2017 and 2016, respectively, and 4.2 million shares and 3.6 million shares for the nine months ended September 30, 2017 and 2016, because their inclusion would have had an anti-dilutive effect on the diluted net loss per share.

Note 5. Income Taxes

The Company had a negative effective tax rate of 35.8% for the three-month periods ended September 30, 2017 compared to a negative effective tax rate of 8.0% for the three-month periods ended September 30, 2016, and negative effective tax rate of 21.5% for the nine-month periods ended September 30, 2017 compared to a negative effective tax rate of 11.2% for the nine-month periods ended September 30, 2016. The Company’s effective tax rate was primarily impacted by the geographic mix of its earnings and losses, and was particularly driven by no tax benefit being recorded for the tax losses of its U.S. subsidiaries for the three-month periods and the nine-months periods ended September 30, 2017 and 2016.

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.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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:

	September 30, 2017
	(U.S. $ in thousands)
	Level 2			Level 3			Total
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$	177		$	-		$	177
Foreign exchange forward contracts designated as hedging instruments		75			-			75

Liabilities:
Foreign exchange forward contracts not designated as hedging instruments		(948	)		-			(948	)
	$	(696	)	$	-		$	(696	)

	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.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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:

	Nine months ended			Year ended
	September 30, 2017			December 31, 2016
	(U.S. $ in thousands)
Fair value at the beginning of the period	$	2,619		$	6,991
Settlements		(3,997	)		(3,500	)
Change in fair value recognized in earnings		1,378			(872	)
Fair value at the end of the period	$	-		$	2,619

The Company’s obligations in connection with acquisitions were estimated utilizing Level 3 inputs, were 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 was 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 retained the discretion to settle the deferred payments in its shares, cash or any combination of the two. The deferred payments were also subject to certain adjustments based on the Company’s share price. During the third quarter of 2017, the Company issued 149,327 ordinary shares valued at $3.5 million and paid cash of $0.5 million to settle the third annual installment of the deferred payments.

The deferred payments were classified as liabilities and were 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. The fair-value revaluations of the deferred payments are presented under change in fair value of obligations in connection with acquisitions in the Company’s consolidated statements of operations and comprehensive loss.

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 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.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following table summarizes the condensed consolidated balance sheets classification and fair values of the Company’s derivative instruments:

		Fair Value						Notional Amount
		September 30,			December 31,			September 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	$	177		$	1,440		$	19,029	$	39,982
Assets derivatives-Foreign exchange contracts, designated as cash flow hedge	Other current assets		75			37			11,889		8,348
Liability derivatives-Foreign exchange contracts, not designated as hedging instruments	Accrued expenses and other current liabilities		(948	)		(48	)		57,572		13,273
Liability derivatives-Foreign exchange contracts, designated as hedging instruments	Accrued expenses and other current liabilities		-			(61	)		-		7,534
		$	(696	)	$	1,368		$	88,490	$	69,137

As of September 30, 2017, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $76.6 million and were used to reduce foreign currency exposures of the local currencies in the markets in which we operate, primarily the Euro, New Israeli Shekel (the “NIS”), Japanese Yen, Korean Won and Chinese Yuan. With respect to such derivatives, loss of $1.4 million and gain of $0.1 million were recognized under financial income (expense), net for the three-month periods ended September 30, 2017 and 2016, respectively, and losses of $4.1 million and $2.3 million were recognized under financial income, net for the nine-month periods ended September 30, 2017 and 2016, respectively. Such losses and gains partially offset the revaluation changes of foreign currencies the balance sheet items, which are also recognized under financial income (expense), net.

As of September 30, 2017, the Company had in effect foreign exchange forward contracts, designated as cash flow hedge for accounting purposes, for the conversion of $11.9 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 February 2018.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
	U.S. $ in thousands
Cost of sales	$	642	$	680	$	2,084	$	2,131
Research and development, net		905		1,103		2,843		3,819
Selling, general and administrative		3,351		3,001		9,206		9,936
Total stock-based compensation expenses	$	4,898	$	4,784	$	14,133	$	15,886

A summary of the Company’s stock option activity for the nine months ended September 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	2,038,698			20.53
Exercised	(196,003	)		13.43
Forfeited	(630,962	)		38.40
Options outstanding as of September 30, 2017	3,827,194		$	29.35
Options exercisable as of September 30, 2017	1,457,880		$	39.17

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 weighted-average grant date fair value of options that were granted during the nine-month period ended September 30, 2017 was $11.1 per option.

During the nine-month periods ended September 30, 2017 and 2016, the Company issued 196,003 shares and 102,511 shares, respectively, upon the exercise of stock options. This resulted in an increase in equity of $2.6 million and $0.8 million for the nine-month periods ended September 30, 2017 and 2016, respectively.

As of September 30, 2017, the unrecognized compensation cost of $24.8 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.0 years.

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

A summary of the Company’s RSUs activity for the nine months ended September 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	267,014			20.12
Forfeited	(111,299	)		75.54
Vested	(80,233	)		55.22
Unvested RSUs outstanding as of September 30, 2017	343,238		$	41.71

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 September 30, 2017, the unrecognized compensation cost of $8.6 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 tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2017 and 2016, respectively:

	Nine months ended September 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		994			5,103			6,097
Amounts reclassified from accumulated other comprehensive loss		(894	)		-			(894	)
Other comprehensive income		100			5,103			5,203
Balance as of September 30, 2017	$	76		$	(8,352	)	$	(8,276	)

	Nine months ended September 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 income (loss) before reclassifications		813			(324	)		489
Amounts reclassified from accumulated other comprehensive loss		(385	)		-			(385	)
Other comprehensive income		428			(324	)		104
Balance as of September 30, 2016	$	321		$	(10,991	)	$	(10,670	)

STRATASYS LTD.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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.

EX-99.2 3 stratasys31410914-ex992.htm OPERATING AND FINANCIAL REVIEW AND PROSPECTS

Exhibit 99.2

OPERATING AND FINANCIAL REVIEW AND PROSPECTS.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited consolidated financial statements and the related notes included as Exhibit 99.1 to the Report of Foreign Private Issuer on Form 6-K to which this Operating and Financial Review and Prospects is attached, or the Form 6-K. The discussion below contains forward-looking statements (within the meaning of the United States federal securities laws) that are based upon our current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to inaccurate assumptions and known or unknown risks and uncertainties, including those identified in “Forward-Looking Statements and Factors that May Affect Future Results of Operations”, below, as well in the “Risk Factors” in Item 3.D of our Annual Report on Form 20-F for the year ended December 31, 2016, or our 2016 Annual Report.

Overview of Business and Trend Information

We are a leading global provider of additive manufacturing, or AM, solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts.

We provide an integrated solutions offering for different vertical markets focusing on aerospace, automotive, healthcare, tooling and manufacturing, education and consumer electronics that includes compatible products and services that are designed to meet our customers’ needs in an efficient manner. Our solutions consisting of a broad range of systems, consumables and services for 3D printing and additive manufacturing and address our customers’ needs for 3D printing, including printing systems, consumables, software, paid parts, strategic consulting and professional services, and 3D content.

Our 3D printers include systems ranging from entry-level desktop 3D printers to systems for rapid prototyping, or RP, and large production systems for direct digital manufacturing, or DDM. We also develop, manufacture and sell materials for use with our systems and provide related services offerings. We offer a powerful range of additive manufacturing materials, including clear, rubberlike and biocompatible photopolymers, and tough high-performance thermoplastics. We believe that the range of 3D printing consumable materials that we offer, consisting of 16 fused deposition modeling, or FDM, cartridge-based materials, 33 Polyjet cartridge-based materials, five Smooth Curvature Printing, or SCP, inkjet-based materials, 158 non-color digital materials, with a gamut of more than 360,000 colors, is the widest in the industry. Our service offerings include Stratasys Direct Manufacturing, or SDM, printed parts services which offers AM capabilities encompassing a wide range of technologies allowing for plastic and metal parts for rapid prototyping and production processes, as well as related professional services.

We conduct our business globally and provide products and services to our global customer base through our main operational facilities which are located in Israel, the United States, Germany and Hong Kong as well through our offices in China, Italy, Brazil, India, Japan and Korea. Our extensive global reach is well-positioned through a network of approximately 200 resellers and selling agents around the world and an online channel. We have approximately 2,300 employees and hold more than 1,200 granted or pending additive manufacturing patents globally.

Summary of Financial Results

Our unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. In the opinion of our management, all adjustments considered necessary for a fair statement of the unaudited condensed consolidated financial statements have been included herein and are of a normal recurring nature. The following discussion compares the actual results, on a GAAP basis, for the three and nine months ended September 30, 2017 with the corresponding periods in 2016.

Results of Operations

Comparison of Three Months Ended September 30, 2017 to Three Months Ended September 30, 2016

The following table sets forth certain statement of operations data for the periods indicated:

	Three Months Ended September 30,
	2017					2016
	U.S. $ in			% of		U.S. $ in			% of
	thousands			Revenues		thousands			Revenues
Revenues	$	155,867		100.0	%	$	157,176		100.0	%
Cost of revenues		80,628		51.7	%		83,495		53.1	%
Gross profit		75,239		48.3	%		73,681		46.9	%
Research and development, net		21,767		14.0	%		23,993		15.3	%
Selling, general and administrative		60,280		38.7	%		69,069		43.9	%
Change in fair value of obligations in connection with acquisitions		65		0.0	%		(24	)	0.0	%
Operating loss		(6,873	)	-4.4	%		(19,357	)	-12.3	%
Financial income (expense), net		(305	)	-0.2	%		104		0.1	%
Loss before income taxes		(7,178	)	-4.6	%		(19,253	)	-12.2	%
Income tax expenses		2,571		1.6	%		1,538		1.0	%
Share in loss of associated company		(489	)	-0.3	%		(182	)	-0.1	%
Net loss attributable to non-controlling interests		(81	)	-0.1	%		(146	)	-0.1	%
Net loss attributable to Stratasys Ltd.		(10,157	)	-6.5	%		(20,827	)	-13.3	%

Discussion of Results of Operations

Revenues

Our products and services revenues in the third quarter of each of 2017 and 2016, as well as the percentage change reflected thereby, were as follows:

	Three Months Ended September 30,
	2017		2016		% Change
	U.S. $ in thousands
Products	$	108,401	$	110,083	-1.5	%
Services		47,466		47,093	0.8	%
	$	155,867	$	157,176	-0.8	%

Products Revenues

Revenues derived from products (including AM systems and consumable materials) decreased by $1.7 million, or 1.5% for the three months ended September 30, 2017, as compared to the three months ended September 30, 2016. The decrease in products revenues was driven by a decrease in our systems revenues and was partially offset by an increase in our consumables revenues.

Systems revenues for the three months ended September 30, 2017 decreased by 5.8% as compared to the three months ended September 30, 2016. The decrease in systems revenues was driven primarily by shift in our product mix toward low-end systems, which reflects a continuous strong demand for our low-cost, high-value F123 offering, as well as longer sales cycle for our high end systems due, in part, to increasing number of orders include multiple systems, as customer adoption accelerates and use cases mature.

Consumables revenues for the three months ended September 30, 2017 increased by 3.2% as compared to the three months ended September 30, 2016. The increase was primarily driven by the favorable effect of our growing installed base of systems as well as favorable trends around the utilization of our systems.

Services Revenues

Services revenues (including SDM, maintenance contracts, spare parts and other services) increased by $0.4 million for the three months ended September 30, 2017, or 0.8%, as compared to the three months ended September 30, 2016. The increase in services revenues was primarily attributable to an increase in revenue from maintenance contracts and service parts, reflecting our growing installed base of systems, partially offset by a decrease in SDM revenues.

Revenues by Region

Revenues and the percentage of revenues by region for the third quarter of each of 2017 and 2016, as well as the percentage change in revenues in each such region reflected thereby, were as follows:

	Three Months Ended September 30,
	2017				2016				% Change
			% of		U.S. $ in		% of
	U.S. $ in thousands		Revenues		thousands		Revenues
Americas*	$	96,539	61.9	%	$	98,827	62.9	%	-2.3	%
EMEA		34,474	22.1	%		31,256	19.9	%	10.3	%
Asia Pacific		24,854	16.0	%		27,093	17.2	%	-8.3	%
	$	155,867	100.0	%	$	157,176	100.0	%	-0.8	%

* Represent the United States, Canada and Latin America

Revenues in the Americas region decreased by $2.3 million, or 2.3%, to $96.5 million for the three months ended September 30, 2017, compared to $98.8 million for the three months ended September 30, 2016. The decrease was primarily driven by lower products revenues, partially offset by higher consumables revenues.

Revenues in the EMEA region increased by $3.2 million, or 10.3%, to $34.5 million for the three months ended September 30, 2017, compared to $31.3 million for the three months ended September 30, 2016. The increase was primarily driven by higher revenues across all products and services lines. Revenues in the EMEA region for the three months ended September 30, 2017 increased by approximately 5.8% as compared to the three months ended September 30, 2016, on a constant currency basis when using the prior period’s exchange rates.

Revenues in the Asia Pacific region decreased by $2.2 million, or 8.3%, to $24.9 million for the three months ended September 30, 2017, compared to $27.1 million for the three months ended September 30, 2016. The decrease was primarily in Japan and China due to decreased products revenues, partially offset by increased services revenues. The decrease in products revenues was primarily driven by decreased demand combined with a shift in product mix.

Gross Profit

Gross profit for our products and services for the third quarter of each of 2017 and 2016, as well as the percentage change reflected thereby, were as follows:

	Three Months Ended September 30,
	2017		2016
	U.S. $ in thousands				Change in %
Gross profit attributable to:
Products	$	58,561	$	55,751	5.0%
Services		16,678		17,930	-7.0%
	$	75,239	$	73,681	2.1%

Gross profit as a percentage of revenues for our products and services was as follows for the third quarter of each of 2017 and 2016:

	Three Months Ended September 30,
	2017	2016
Gross profit as a percentage of revenues from:
Products	54.0%	50.6%
Services	35.1%	38.1%
Total gross profit	48.3%	46.9%

Gross profit attributable to products revenues increased by $2.8 million, or 5.0%, to $58.6 million for the three months ended September 30, 2017, compared to gross profit of $55.8 million for the three months ended September 30, 2016. Gross profit attributable to products revenues as a percentage of products revenues increased to 54.0% for the three months ended September 30, 2017, compared to gross profit of 50.6% for the three months ended September 30, 2016.

The increase in gross profit attributable to products revenues was primarily driven by lower amortization expense of $4.8 million, partially offset by a shift in sales mix toward our low-end systems.

Gross profit attributable to services revenues decreased by $1.3 million, or 7.0%, to $16.7 million for the three months ended September 30, 2017, compared to $17.9 million for the three months ended September 30, 2016. Gross profit attributable to services revenues as a percentage of services revenues in the three months ended September 30, 2017 decreased to 35.1%, as compared to 38.1% for the three months ended September 30, 2016. The decrease in gross profit from services revenues primarily reflects the impact of service revenue mix by product, as well as utilization rates from our various technologies at SDM.

Operating Expenses

The amount of each type of operating expense for the third quarter of each of 2017 and 2016, as well as the percentage change reflected thereby, and total operating expenses as a percentage of our total revenues in each such quarter, were as follows:

	Three Months Ended September 30,
	2017			2016			% Change
	U.S. $ in thousands
Research and development, net	$	21,767		$	23,993		-9.3%
Selling, general & administrative		60,280			69,069		-12.7%
Change in fair value of obligations in connection with acquisitions		65			(24	)	-370.8%
	$	82,112		$	93,038		-11.7%
Percentage of revenues		52.7	%		59.2	%

Research and development expenses, net decreased by $2.2 million, or 9.3%, to $21.8 million for the three months ended September 30, 2017, compared to $24.0 million for the three months ended September 30, 2016. The amount of research and development expenses constituted 14.0% of our revenues for the three months ended September 30, 2017, as compared to 15.3% for the three months ended September 30, 2016.

The decrease in research and development expenses, net reflects reduced payroll and related expenses, resulting from the reprioritization of our research and development projects to support our strategy.

Our research and development expenses consist primarily of employee compensation and employee-related personnel expenses, materials, laboratory supplies, costs for related software and costs for facilities. Based on our analysis of our key vertical markets, we maintain our intention to continue to invest in research and development in order to accelerate innovation and to introduce a broad range of hardware, materials and software solutions in order to sustain our leadership position in the 3D printing ecosystem. In addition, we continue with our portfolio realignment, under which we focus our resources in our projects on designs for our customers’ use cases and their specific applicative needs.

Selling, general and administrative expenses decreased by $8.8 million, or 12.7%, to $60.3 million for the three months ended September 30, 2017, as compared to $69.1 million for the three months ended September 30, 2016. The amount of selling, general and administrative expenses constituted 38.7% of our revenues for the three months ended September 30, 2017, as compared to 43.9% for the three months ended September 30, 2016.

The decrease in our selling, general and administrative expenses was primarily driven by decreased commissions paid to third parties, lower reorganization related costs and lower amortization expense.

Changes in fair value of obligations in connection with acquisitions resulted in a loss of $0.1 million and a gain of $0.02 million for the three months ended September 30, 2017, and 2016, respectively. The changes in fair value of obligations in connection with acquisitions were due to revaluation of the deferred consideration as part of the Solid Concepts transaction. For further information, see note 6 to our unaudited condensed consolidated financial statements attached as Exhibit 99.1 to the Form 6-K.

Operating Loss

Operating loss and operating loss as a percentage of our total revenues, were as follows for the third quarter of each of 2017 and 2016:

	Three Months Ended September 30,
	2017			2016
	U.S. $ in thousands
Operating loss	$	(6,873	)	$	(19,357	)

Percentage of revenues		-4.4	%		-12.3	%

Operating loss amounted to $6.9 million for the three months ended September 30, 2017 compared to an operating loss of $19.4 million for the three months ended September 30, 2016. The decrease in operating loss was primarily attributable to lower operating expenses for the three months ended September 30, 2017 compared to the three months ended September 30, 2016, as discussed above.

Financial income (expense), net

Financial income, net, which was primarily comprised of effects of foreign currencies, interest income and interest expense as well as bank charges, amounted to net expense of $0.3 million and net income of $0.1 million for the three months ended September 30, 2017 and 2016, respectively.

Income Taxes

Income taxes and income taxes as a percentage of net loss before taxes for the third quarter of each 2017 and 2016, as well as the percentage change in each reflected thereby, were as follows:

	Three Months Ended
	September 30,
	2017			2016
	U.S. $ in thousands						Change in %
Income tax expense	$	2,571		$	1,538		67.2%

As a percent of loss before income taxes		-35.8	%		-8.0	%	348.4%

We had a negative effective tax rate of 35.8% for the three-month period ended September 30, 2017 compared to a negative effective tax rate of 8.0% for the three-month period ended September 30, 2016. Our effective tax rate was primarily impacted by the geographic mix of our earnings and losses, and was particularly driven by no tax benefit being recorded for the tax losses of our U.S. subsidiaries for the three-month periods ended September 30, 2017 and 2016.

Net Loss Attributable to Stratasys Ltd. and Net Loss Per Share

Net loss attributable to Stratasys Ltd., and diluted net loss per share, for the third quarter of each of 2017 and 2016, were as follows:

	Three Months Ended September 30,
	2017			2016
	U.S. $ in thousands
Net loss attributable to Stratasys Ltd.	$	(10,157	)	$	(20,827	)

Percentage of revenues		-6.5	%		-13.3	%

Diluted net loss per share	$	(0.19	)	$	(0.40	)

Net loss attributable to Stratasys Ltd. was $10.2 million for the three months ended September 30, 2017 compared to net loss of $20.8 million for the three months ended September 30, 2016. The decrease in the net loss attributable to Stratasys Ltd. was primarily attributable to decreased operating expenses.

Diluted net loss per share was $0.19 and $0.40 for the three months ended September 30, 2017 and 2016, respectively. The weighted average fully diluted share count was 53.0 million for the three months ended September 30, 2017, compared to 52.4 million for the three months ended September 30, 2016.

Results of Operations

Comparison of Nine Months Ended September 30, 2017 to Nine Months Ended September 30, 2016

The following table sets forth certain statement of operations data for the periods indicated:

	Nine Months Ended September 30,
	2017				2016
	U.S. $ in			% of	U.S. $ in			% of
	thousands			Revenues	thousands			Revenues
Revenues	$	489,019		100.0%	$	497,155		100.0%
Cost of revenues		253,508		51.8%		262,773		52.9%
Gross profit		235,511		48.2%		234,382		47.1%
Research and development, net		69,652		14.2%		73,474		14.8%
Selling, general and administrative		189,028		38.7%		218,340		43.9%
Change in fair value of obligations in connection with acquisitions		1,378		0.3%		116		0.0%
Operating loss		(24,547	)	-5.0%		(57,548	)	-11.6%
Financial income, net		380		0.1%		1,216		0.2%
Loss before income taxes		(24,167	)	-4.9%		(56,332	)	-11.3%
Income tax expenses		5,205		1.1%		6,283		1.3%
Share in loss of associated company		(1,006	)	-0.2%		(182	)	0.0%
Net loss attributable to non-controlling interests		(377	)	-0.1%		(339	)	-0.1%
Net loss attributable to Stratasys Ltd.		(30,001	)	-6.1%		(62,458	)	-12.6%

Discussion of Results of Operations

Revenues

Our products and services revenues for the nine months ended September 30, 2017 and 2016, as well as the percentage change reflected thereby, were as follows:

	Nine Months Ended September 30,
	2017		2016		% Change
	U.S. $ in thousands
Products	$	344,509	$	352,475	-2.3%
Services		144,510		144,680	-0.1%
	$	489,019	$	497,155	-1.6%

Products Revenues

Revenues derived from products (including AM systems and consumable materials) decreased by $8.0 million, or 2.3% for the nine months ended September 30, 2017, as compared to the nine months ended September 30, 2016. The decrease in products revenues was driven by a decrease in our systems revenues and was partially offset by an increase in our consumables revenues.

The decrease in systems revenues of 7.5% was driven primarily by shift in our product mix, toward low-end systems, which reflects a strong demand for our low cost, high value F123 offering during the nine months ended September 30, 2017, as compared to the successful market acceptance of our high end J750 multi-material system during the nine months ended September 30, 2016.

Consumables revenues for the nine months ended September 30, 2017 increased by 4.0% as compared to the nine months ended September 30, 2016. The increase was driven primarily by the favorable effect of our growing installed base of systems.

Services Revenues

Services revenues (including SDM, maintenance contracts, spare parts and other services) slightly decreased by $0.2 million for the nine months ended September 30, 2017, or 0.1%, as compared to the nine months ended September 30, 2016. The decrease in services revenues was primarily attributable to a decrease in SDM revenues, partially offset by an increase in maintenance contracts and service parts, reflecting our growing installed base of systems.

Revenues by Region

Revenues and the percentage of revenues by region for the nine months ended September 30, 2017 and 2016, as well as the percentage change in revenues in each such region reflected thereby, were as follows:

	Nine Months Ended September 30,
	2017			2016			% Change
	U.S. $ in		% of	U.S. $ in		% of
	thousands		Revenues	thousands		Revenues
Americas*	$	306,426	62.7%	$	304,272	61.2%	0.7%
EMEA		105,239	21.5%		102,107	20.5%	3.1%
Asia Pacific		77,354	15.8%		90,776	18.3%	-14.8%
	$	489,019	100.0%	$	497,155	100.0%	-1.6%

* Represent the United States, Canada and Latin America

Revenues in the North America region increased by $2.2 million, or 0.7%, to $306.4 million for the nine months ended September 30, 2017, compared to $304.3 million for the nine months ended September 30, 2016. The increase was primarily driven by higher products revenues, partially offset by lower services revenues primarily due to lower SDM revenues.

Revenues in the EMEA region increased by $3.1 million, or 3.1%, to $105.2 million for the nine months ended September 30, 2017, compared to $102.1 million for the nine months ended September 30, 2016. The increase was primarily due to higher consumables and services revenues, partially offset by lower systems revenues. Revenues in the EMEA region for the nine months ended September 30, 2017 increased by approximately 4.4% as compared to the nine months ended September 30, 2016, on a constant currency basis when using the prior period’s exchange rates.

Revenues in the Asia Pacific region decreased by $13.4 million, or 14.8%, to $77.4 million for the nine months ended September 30, 2017, compared to $90.8 million for the nine months ended September 30, 2016. The decrease was primarily due to lower products revenues, partially offset by higher services revenues.

Gross Profit

Gross profit for our products and services for the nine months ended September 30, 2017 and 2016, as well as the percentage change reflected thereby, were as follows:

	Nine Months Ended September 30,
	2017		2016
	U.S. $ in thousands				Change in %
Gross profit attributable to:
Products	$	185,466	$	179,792	3.2%
Services		50,045		54,590	-8.3%
	$	235,511	$	234,382	0.5%

Gross profit as a percentage of revenues for our products and services was as follows for the nine months ended September 30, 2017 and 2016:

	Nine Months Ended September 30,
	2017	2016
Gross profit as a percentage of revenues from:
Products	53.8%	51.0%
Services	34.6%	37.7%
Total gross profit	48.2%	47.1%

Gross profit attributable to products revenues increased by $5.7 million, or 3.2%, to $185.5 million for the nine months ended September 30, 2017, compared to gross profit of $179.8 million for the nine months ended September 30, 2016. Gross profit attributable to products revenues as a percentage of products revenues increased to 53.8% for the nine months ended September 30, 2017, compared to gross profit of 51.0% for the nine months ended September 30, 2016.

The increase in gross profit attributable to products revenues was primarily driven by lower amortization and impairment expense of $16.1 million, as well as lower reorganization related costs of $3.3 million, partially offset by a shift in sales mix toward our low-end systems.

Gross profit attributable to services revenues decreased by $4.5 million, or 8.3%, to $50.0 million for the nine months ended September 30, 2017, compared to $54.6 million for the nine months ended September 30, 2016. Gross profit attributable to services revenues as a percentage of services revenues in the nine months ended September 30, 2017 decreased to 34.6%, as compared to 37.7% for the nine months ended September 30, 2017. The decrease in gross profit from services revenues primarily reflects the impact of service revenue mix by product, as well as utilization rates from our various technologies at SDM.

Operating Expenses

The amount of each type of operating expense for the nine months ended September 30, 2017 and 2016, as well as the percentage change reflected thereby, and total operating expenses as a percentage of our total revenues in each such period, were as follows:

	Nine Months Ended September 30,
	2017			2016			% Change
	U.S. $ in thousands
Research and development, net	$	69,652		$	73,474		-5.2%
Selling, general & administrative		189,028			218,340		-13.4%
Change in fair value of obligations in connection with acquisitions		1,378			116		1087.9%
	$	260,058		$	291,930		-10.9%
Percentage of revenues		53.2	%		58.7	%

Research and development expenses, net decreased by $3.8 million, or 5.2%, to $69.7 million for the nine months ended September 30, 2017, compared to $73.5 million for the nine months ended September 30, 2016. The amount of research and development expenses constituted 14.2% of our revenues for the nine months ended September 30, 2017, as compared to 14.8% for the nine months ended September 30, 2016.

Selling, general and administrative expenses decreased by $29.3 million, or 13.4%, to $189.0 million for the nine months ended September 30, 2017, as compared to $218.3 million for the nine months ended September 30, 2016. The amount of selling, general and administrative expenses constituted 38.7% of our revenues for the nine months ended September 30, 2017, as compared to 43.9% for the nine months ended September 30, 2016.

The decrease in our selling, general and administrative expenses was primarily driven by reductions in payroll and related expense, lower amortization and depreciation expense, as well as, lower facilities related expense, which reflect the effective implementation of our costs reduction initiatives, which reduced certain of our variable and fixed expenses.

Changes in fair value of obligations in connection with acquisitions resulted in a losses of $1.4 million and $0.1 million for of the nine months ended September 30, 2017, and 2016, respectively. The changes in fair value of obligations in connection with acquisitions were due to revaluation of the deferred consideration as part of the Solid Concepts transaction. For further information, see note 6 to our unaudited condensed consolidated financial statements attached as Exhibit 99.1 to the Form 6-K.

Operating Loss

Operating loss and operating loss as a percentage of our total revenues, were as follows for the nine months ended September 30, 2017 and 2016:

	Nine Months Ended September 30,
	2017			2016
	U.S. $ in thousands
Operating loss	$	(24,547	)	$	(57,548	)

Percentage of revenues		-5.0	%		-11.6	%

Operating loss amounted to $24.5 million for the nine months ended September 30, 2017 compared to an operating loss of $57.5 million for the nine months ended September 30, 2016. The decrease in operating loss was primarily attributable to lower operating expense for the nine months ended September 30, 2017, as discussed above.

Financial income, net

Financial income, net, which was primarily comprised of effects of foreign currencies, interest income and interest expense, as well as bank charges, amounted to $0.4 million and $1.2 million for the nine months ended September 30, 2017 and 2016, respectively.

Income Taxes

Income taxes and income taxes as a percentage of net loss before taxes for the nine months ended September 30, 2017 and 2016, as well as the percentage change in each reflected thereby, were as follows:

	Nine Months Ended
	September 30,
	2017		2016
	U.S. $ in thousands				Change in %
Income tax expense	$	5,205	$	6,283	-17.2%

As a percent of loss before income taxes		-21.5%		-11.2%	93.1%

We had a negative effective tax rate of 21.5% for the nine-month period ended September 30, 2017 compared to a negative effective tax rate of 11.2% for the nine-month period ended September 30, 2016. Our effective tax rate was primarily impacted by the geographic mix of our earnings and losses, and was particularly driven by no tax benefit being recorded for the tax losses of our U.S. subsidiaries for the nine-month periods ended September 30, 2017 and 2016.

Net Loss Attributable to Stratasys Ltd. and Net Loss Per Share

Net loss attributable to Stratasys Ltd. (both in absolute terms and as a percentage of revenues), and diluted net loss per share, for the nine months ended September 30, 2017 and 2016, were as follows:

	Nine Months Ended September 30,
	2017			2016
	U.S. $ in thousands
Net loss attributable to Stratasys Ltd.	$	(30,001	)	$	(62,458	)

Percentage of revenues		-6.1	%		-12.6	%

Diluted net loss per share	$	(0.57	)	$	(1.20	)

Net loss attributable to Stratasys Ltd. was $30.0 million for the nine months ended September 30, 2017 compared to net loss of $62.5 million for the nine months ended September 30, 2016. The decrease in the net loss attributable to Stratasys Ltd. was primarily attributable to decreased operating expenses.

Diluted net loss per share was $0.57 and $1.20 for the nine months ended September 30, 2017 and 2016, respectively. The weighted average fully diluted share count was 52.8 million for the nine months ended September 30, 2017, compared to 52.2 million for the nine months ended September 30, 2016.

Supplemental Operating Results on a Non-GAAP Basis

The following non-GAAP data, which excludes certain items as described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures are useful information for investors and shareholders of our company in gauging our results of operations (x) on an ongoing basis after excluding merger and acquisition related expense and reorganization-related charges, and (y) excluding non-cash items such as stock-based compensation expenses, acquired intangible assets amortization, impairment of goodwill and other long-lived assets, changes in fair value of obligations in connection with acquisitions and the corresponding tax effect of those items. We also exclude, when applicable, non-recurring changes of non-cash valuation allowance on deferred tax assets, as well as non-recurring significant tax charges or benefits that relate to prior periods which we do not believe are reflective of ongoing business and operating results. These non-GAAP adjustments either do not reflect actual cash outlays that impact our liquidity and our financial condition or have a non-recurring impact on the statement of operations, as assessed by management. These non-GAAP financial measures are presented to permit investors to more fully understand how management assesses our performance for internal planning and forecasting purposes. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of our results of operations without including all items indicated above during a period, which may not provide a comparable view of our performance to other companies in our industry. Investors and other readers should consider non-GAAP measures only as supplements to, not as substitutes for or as superior measures to, the measures of financial performance prepared in accordance with GAAP. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table below.

Reconciliation of GAAP to Non-GAAP Results of Operations

The following tables present the GAAP measures, the corresponding non-GAAP amounts and related non-GAAP adjustments for the applicable periods:

		Three Months Ended September 30,
		2017			Non-GAAP			2017		2016			Non-GAAP			2016
		GAAP			Adjustments			Non-GAAP		GAAP			Adjustments			Non-GAAP
		U.S. dollars and shares in thousands (except per share amounts)
	Gross profit (1)	$	75,239		$	6,598		$	81,837	$	73,681		$	11,248		$	84,929
	Operating income (loss) (1,2)		(6,873	)		14,933			8,060		(19,357	)		22,651			3,294
	Net income (loss) attributable to Stratasys Ltd. (1,2,3)		(10,157	)		14,299			4,142		(20,827	)		20,936			109
	Net income (loss) per diluted share attributable to Stratasys Ltd. (4)	$	(0.19	)	$	0.27		$	0.08	$	(0.40	)	$	0.40		$	0.00

(1)	Acquired intangible assets amortization expense					5,688								10,394
	Non-cash stock-based compensation expense					642								680
	Reorganization and other related costs					72								249
	Merger and acquisition and other expense					196								(75	)
						6,598								11,248

(2)	Acquired intangible assets amortization expense					2,593								3,697
	Non-cash stock-based compensation expense					4,256								4,105
	Change in fair value of obligations in connection with acquisitions					65								(24	)
	Reorganization and other related costs					383								1,959
	Merger and acquisition and other expense					1,038								1,666
						8,335								11,403
						14,933								22,651

(3)	Corresponding tax effect					(836	)							(1,998	)
	Amortization expense of associated company					202								283
					$	14,299							$	20,936

(4)	Weighted average number of ordinary shares outstanding- Diluted		53,012						53,664		52,432						53,168

		Nine Months Ended September 30,
		2017			Non-GAAP			2017		2016			Non-GAAP			2016
		GAAP			Adjustments			Non-GAAP		GAAP			Adjustments			Non-GAAP
		U.S. dollars and shares in thousands (except per share amounts)
	Gross profit (1)	$	235,511		$	19,996		$	255,507	$	234,382		$	39,241		$	273,623
	Operating income (loss) (1,2)		(24,547	)		47,708			23,161		(57,548	)		74,996			17,448
	Net income (loss) attributable to Stratasys Ltd. (1,2,3)		(30,001	)		45,729			15,728		(62,458	)		69,401			6,943
	Net income (loss) per diluted share attributable to Stratasys Ltd. (4)	$	(0.57	)	$	0.86		$	0.29	$	(1.20	)	$	1.33		$	0.13

(1)	Acquired intangible assets amortization expense					17,081								31,318
	Impairment charges of other intangible assets					-								1,779
	Non-cash stock-based compensation expense					2,084								2,132
	Reorganization and other related costs					303								3,570
	Merger and acquisition and other expense					528								442
						19,996								39,241

(2)	Acquired intangible assets amortization expense					7,725								11,079
	Non-cash stock-based compensation expense					12,049								13,755
	Change in fair value of obligations in connection with acquisitions					1,378								116
	Reorganization and other related costs					2,667								3,420
	Merger and acquisition and other expense					3,893								7,385
						27,712								35,755
						47,708								74,996

(3)	Corresponding tax effect					(2,571	)							(5,878	)
	Amortization expense of associated company					592								283
					$	45,729							$	69,401

(4)	Weighted average number of ordinary shares outstanding-Diluted		52,827						53,521		52,232						53,182

Liquidity and Capital Resources

A summary of our statement of cash flows is as follows:

	Nine Months Ended September 30,
	2017			2016
	U.S. $ in thousands
Net loss	$	(30,378	)	$	(62,797	)
Depreciation and amortization		49,791			69,743
Impairment of other intangible assets		-			1,779
Deferred income taxes		(3,086	)		(6,207	)
Stock-based compensation		14,133			15,886
Change in fair value of obligations in connection with acquisitions		1,378			116
Foreign currency transactions gain and other items		(6,399	)		(2,554	)
Change in working capital and other items		15,427			20,053
Net cash provided by operating activities		40,866			36,019
Net cash used in investing activities		(19,767	)		(54,809	)
Net cash provided by financing activities		(1,630	)		(569	)
Effect of exchange rate changes on cash and cash equivalents		2,998			1,112
Net change in cash and cash equivalents		22,467			(18,247	)
Cash and cash equivalents, beginning of period		280,328			257,592
Cash and cash equivalents, end of period	$	302,795		$	239,345

Our cash and cash equivalents balance increased to $302.8 million on September 30, 2017 from $280.3 million on December 31, 2016. The increase in cash and cash equivalents in the nine months ended September 30, 2017 was primarily due to net cash provided by operating activities in an amount of $40.9 million and favorable effect of exchange rate changes on cash and cash equivalents of $3.0 million, partially offset by net cash used in investing activities of $19.8 million.

Our cash and cash equivalents balance decreased to $239.3 million at September 30, 2016 from $257.6 million at December 31, 2015. The decrease in cash and cash equivalents in the nine months ended September 30, 2016 was primarily due to net cash used in investing activities in an amount of $54.8 million, partially offset by net cash provided by operating activities of $36.0 million.

Cash flows from operating activities

We generated $40.9 million of cash from operating activities during the nine months ended September 30, 2017. Our $30.0 million net loss was adjusted due to non-cash charges such as $49.8 million of depreciation and amortization and $14.1 million of stock-based compensation expense. In addition, changes in our working capital balances and other assets and liabilities increased our cash flow provided by operating activities by $15.3 million. The changes in our working capital balances reflect our focus on operating efficiencies also through working capital management.

We generated $36.0 million of cash from operating activities during the nine months ended September 30, 2016. The net loss of $62.8 million was adjusted due to non-cash charges such as depreciation and amortization of $69.7 million, stock-based compensation expense of $15.9 million. Changes in working capital items that favorably affected our cash flow provided by operating activities were primarily attributable to decrease in accounts receivable of $15.2 million.

Cash flows from investing activities

We used $19.8 million of cash in our investing activities during the nine months ended September 30, 2017. Cash was primarily used to invest $18.4 million to purchase property and equipment and for certain strategic investments in unconsolidated entities.

Our principal property and equipment purchases were for our new buildings complex under construction in Rehovot, Israel. The new facility in Rehovot, Israel, which will contain two buildings, houses our Israeli headquarters, research and development facilities and certain marketing activities. We entered the first building in January 2017. Other equipment purchases were primarily for building improvements in the United States and Israel.

We used cash of $54.8 million in our investing activities during the nine months ended September 30, 2016. Cash was primarily used to invest $31.7 million to purchase property and equipment and for certain strategic investments in unconsolidated entities.

Cash flows from financing activities

We used $1.6 million of cash in our financing activities during the nine months ended September 30, 2017. Cash used for financing activities was mainly attributed to the quarterly repayments of our long-term loan in an amount of $2.8 million and to finance our payments for obligations in connection with acquisitions in an amount of $1.5 million. Cash provided by financing activities was mainly attributed to proceeds of $2.6 million from the exercise of stock options.

Net cash used in our financing activities during the nine months ended September 30, 2016 was $0.6 million. Cash used by financing activities was mainly attributed to finance our payments for obligations in connection with acquisitions and was partially offset by proceeds of $0.8 million from the exercise of stock options.

Capital resources and capital expenditures

Our total current assets amounted to $582.7 million as of September 30, 2017, of which $302.8 million consisted of cash and cash equivalents. Total current liabilities amounted to $162.9 million. Most of our cash and cash equivalents are held in banks in Israel, Switzerland and the U.S.

The credit risk related to our accounts receivable is limited due to the relatively large number of customers and their wide geographic distribution. In addition, we seek to reduce the credit exposures of our accounts receivable by credit limits, ongoing credit evaluation and account monitoring procedures.

We believe that we will have adequate cash and cash equivalents to fund our ongoing operations and that these sources of liquidity will be sufficient to satisfy our capital expenditure and debt requirements for the next twelve months.

Long-Term Bank Loan and Credit Line

Under the secured loan agreement that we entered into with Bank Hapoalim Ltd. in December 2016, our company borrowed $26 million initially and secured a credit line for an additional $24 million. The initial proceeds that we borrowed under the loan agreement were used for purposes related to our new office facility in Israel. The initial loan will mature in December 2023 and is payable in equal consecutive quarterly principal installments of principal and accrued interest. The repayment of the initial loan is secured by a first priority lien on all of our company’s rights in the property of our new office facility in Israel. The loan bears interest at the rate of LIBOR plus 3.35%. As of September 30, 2017, we had not utilized the credit line.

We are in compliance with all covenants under the loan agreement as of September 30, 2017.

As part of our business strategy, we plan to consider and, as appropriate, make acquisitions of other businesses, strategic alliances, property, plant and equipment as well as new technologies and products. Our cash reserves and other liquid assets may be inadequate to consummate such acquisitions and it may be necessary for us to issue shares or raise substantial additional funds in the future to complete future transactions.

Critical Accounting Policies

We have prepared our consolidated financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America. This has required us to make estimates, judgments, and assumptions that affected the amounts we reported. Actual results may differ from those estimates. To facilitate the understanding of our business activities, certain accounting policies that are important to the presentation of our financial condition and results of operations and that require management’s subjective judgments are described in our 2016 Annual Report. We base our judgments on our experience and various assumptions that we believe to be reasonable under the circumstances.

Forward-Looking Statements and Factors That May Affect Future Results of Operations

Certain information included in or incorporated by reference into the Report of Foreign Private Issuer on Form 6-K to which this Operating and Financial Review is appended, or the Form 6-K, may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. You can generally identify forward-looking statements as statements containing the words “may,” “will,” “could,” “should,” “expect,” “anticipate,” “intend,” “estimate,” “believe,” “project,” “plan,” “assume” or other similar expressions, or negatives of those expressions, although not all forward-looking statements contain these identifying words.

These forward-looking statements may include, but are not limited to, statements regarding our future strategy, future operations, projected financial position, proposed products, estimated future revenues, projected costs, future prospects, the future of our industry and results that might be obtained by pursuing management’s current plans and objectives.

You should not place undue reliance on our forward-looking statements because the matters they describe are subject to certain risks, uncertainties and assumptions that are difficult to predict. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this Form 6-K. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our shareholders. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things:

●	the extent of our success at introducing new or improved products and solutions that gain market share;
●	the extent of growth of the 3D printing market generally;
●	impairments of goodwill or other intangible assets in respect of companies that we acquire;
●	changes in our overall strategy, such as related to our cost reduction and reorganization activities and our capital expenditures;
●	the extent of our success at efficiently and successfully integrating the operations of various companies that we have acquired or may acquire;
●	the impact of shifts in prices or margins of the products that we sell or services we provide;
●	the impact of competition and new technologies;
●	global market, political and economic conditions, and in the countries in which we operate in particular;
●	government regulations and approvals;
●	litigation and regulatory proceedings;
●	infringement of our intellectual property rights by others (including for replication and sale of consumables for use in our systems), or infringement of others’ intellectual property rights by us;
●	the extent of our success at maintaining our liquidity and financing our operations and capital needs;
●	impact of tax regulations on our results of operations and financial condition; and
●	those factors referred to in Item 3.D, “Key Information - Risk Factors”, Item 4, “Information on the Company”, and Item 5, “Operating and Financial Review and Prospects” in our 2016 Annual Report, as well as in the 2016 Annual Report generally.

Readers are urged to carefully review and consider the various disclosures made throughout the Form 6-K, our 2016 Annual Report, and in our other reports filed with or furnished to the SEC, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

Closing of SEC Investigation

On September 25, 2017, the SEC notified the Company that it was closing its investigation into the Company (which we had previously reported in the 2016 Annual Report) and did not intend on recommending an enforcement action by the SEC.

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Reference is made to Item 11, “Quantitative and Qualitative Disclosures about Market Risk” in our 2016 Annual Report.

LEGAL PROCEEDINGS

We are subject to various litigation and other legal proceedings. For a discussion of certain of these matters that we deem to be material to our company, see Note 9-“Contingencies” in the notes to our unaudited condensed consolidated financial statements attached as Exhibit 99.1 to the Form 6-K.

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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”). In addition, the Company 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 nine months ended September 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 August 2017, the FASB issued an ASU which expands the activities that may be eligible to qualify for hedge accounting, simplifies the rules for reporting hedging transactions and better portray the economic results of risk management activities in the financial statements. It also amends certain presentation and disclosure requirements and eases certain hedge effectiveness assessment requirements. The new guidance is effective for fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new guidance on its consolidated financial statements. 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 January 2017, the FASB issued an ASU which revises the definition of a business and provides new guidance in evaluating whether transactions should be accounted for as an acquisition (or disposal) of assets or as a business combination. The definition of a business affects areas of accounting including acquisitions, disposals, goodwill and consolidation. Under this new guidance, if substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, it may be treated as an asset acquisition (or disposal) rather than a business combination. The new guidance is effective for fiscal year beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of the new 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. 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 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 a new ASU which provides new comprehensive revenue recognition guidance on revenue from contracts with customers that will supersede the current revenue recognition guidance. The new revenue recognition standard (hereinafter “the Standard”) provides a unified model to determine when and how revenue is recognized. The core principle of the 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 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 in retained earnings as of the date of adoption (“modified retrospective approach”). The Company has developed a project plan to analyze the potential impact the Standard 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 evaluating potential differences that would result from applying the requirements under the Standard. The Company will adopt the Standard using the modified retrospective approach. Based on the analysis conducted to date, the Company does not expect a material change in its pattern of revenue recognition. The Company will continue to assess, throughout the remainder of 2017, the impact of the Standard’s expanded disclosure requirements and the Standard’s requirement to capitalize costs associated with obtaining customer contracts, including commission payments, which are currently expensed as incurred.

Note 2. Inventories Inventories, net consisted of the following: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">December 31,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="5" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 90%; text-align: left; font: 10pt Times New Roman, Times, Serif">Finished goods</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">68,419</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">62,728</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif">Work-in-process</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; font: 10pt Times New Roman, Times, Serif">2,300</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; font: 10pt Times New Roman, Times, Serif">2,389</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif">Raw materials</td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: right; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">53,337</td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: right; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">52,404</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">124,056</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">117,521</td></tr></table></div>

Inventories, net consisted of the following: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">December 31,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="5" nowrap="nowrap" style="text-align: center; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 90%; text-align: left; font: 10pt Times New Roman, Times, Serif">Finished goods</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">68,419</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">62,728</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif">Work-in-process</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; font: 10pt Times New Roman, Times, Serif">2,300</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; font: 10pt Times New Roman, Times, Serif">2,389</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif">Raw materials</td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: right; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">53,337</td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: left; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; text-align: right; border-bottom: Black 1 solid; font: 10pt Times New Roman, Times, Serif">52,404</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">124,056</td> <td nowrap="nowrap" style="text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">117,521</td></tr></table></div>

Note 3. Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of the Company’s goodwill for the nine-months ended September 30, 2017 were as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in millions</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Goodwill as of January 1, 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">385.6</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Translation differences</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">1.3</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Goodwill as of September 30, 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">386.9</td></tr></table></div> Other Intangible Assets Other intangible assets consisted of the following: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="9" nowrap="nowrap" style="width: 12%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">September 30, 2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="9" nowrap="nowrap" style="width: 9%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; font: 10pt Times New Roman, Times, Serif">Carrying Amount,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Carrying Amount,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net of</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; font: 10pt Times New Roman, Times, Serif">Accumulated</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Book</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net of</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; font: 10pt Times New Roman, Times, Serif">Accumulated</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Book</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Impairment</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Amortization</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Value</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Impairment</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Amortization</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Value</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="19" nowrap="nowrap" style="width: 22%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"> Developed technology</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">304,766</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(214,985</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">89,781</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">304,766</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(198,632</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,134</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Patents</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">20,180</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(13,817</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">6,363</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">19,009</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(12,257</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">6,752</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Trademarks and trade names</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">27,829</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(17,882</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">9,947</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">27,819</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(16,849</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">10,970</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Customer relationships</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,986</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61,104</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">45,882</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,571</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(54,258</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,313</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Capitalized software development costs</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">19,540</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(18,706</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">834</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">19,540</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(18,251</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">1,289</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">479,301</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(326,494</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">152,807</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">477,705</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(300,247</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">177,458</td></tr></table></div> Amortization expense relating to intangible assets for the three-month periods ended September 30, 2017 and 2016 was approximately $8.8 million and $14.7 million, respectively. Amortization expense relating to intangible assets for the nine-month periods ended September 30, 2017 and 2016 was approximately $26.1 million and $43.9 million, respectively. The decrease in amortization expense was primarily due to change in the estimated useful lives of certain intangibles assets. As of September 30, 2017, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods was as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Estimated</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">amortization expense</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Remaining 3 months of 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">8,680</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2018</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">33,262</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2019</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">32,391</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2020</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">32,009</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2021</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">31,415</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Thereafter</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">15,050</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Total</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">152,807</td></tr></table></div>

Changes in the carrying amount of the Company’s goodwill for the nine-months ended September 30, 2017 were as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in millions</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Goodwill as of January 1, 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">385.6</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Translation differences</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">1.3</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Goodwill as of September 30, 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">386.9</td></tr></table></div>

Other intangible assets consisted of the following: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="9" nowrap="nowrap" style="width: 12%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">September 30, 2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="9" nowrap="nowrap" style="width: 9%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; font: 10pt Times New Roman, Times, Serif">Carrying Amount,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Carrying Amount,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net of</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; font: 10pt Times New Roman, Times, Serif">Accumulated</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Book</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Net of</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; font: 10pt Times New Roman, Times, Serif">Accumulated</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">Book</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 4%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Impairment</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Amortization</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Value</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Impairment</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 5%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Amortization</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Value</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="19" nowrap="nowrap" style="width: 22%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"> Developed technology</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">304,766</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(214,985</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">89,781</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">304,766</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(198,632</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,134</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Patents</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">20,180</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(13,817</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">6,363</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">19,009</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(12,257</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">6,752</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Trademarks and trade names</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">27,829</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(17,882</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">9,947</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">27,819</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(16,849</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">10,970</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Customer relationships</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,986</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61,104</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">45,882</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">106,571</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 3%; text-align: right; font: 10pt Times New Roman, Times, Serif">(54,258</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,313</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Capitalized software development costs</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">19,540</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(18,706</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">834</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">19,540</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 3%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(18,251</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">1,289</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">479,301</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(326,494</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">152,807</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">477,705</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 3%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(300,247</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">177,458</td></tr></table></div>

As of September 30, 2017, estimated amortization expense relating to intangible assets currently subject to amortization for each of the following periods was as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 60%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">Estimated</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">amortization expense</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="2" nowrap="nowrap" style="width: 1%; text-align: center; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Remaining 3 months of 2017</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">8,680</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2018</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">33,262</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2019</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">32,391</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2020</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">32,009</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">2021</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">31,415</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Thereafter</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">15,050</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 98%; text-align: left; font: 10pt Times New Roman, Times, Serif">Total</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">152,807</td></tr></table></div>

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 nine months ended September 30, 2017 and 2016: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="7" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Three months ended September 30,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="7" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Nine months ended September 30,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2016</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="15" nowrap="nowrap" style="width: 10%; text-align: center; font: 10pt Times New Roman, Times, Serif">In thousands, except per share amounts</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Numerator:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Net loss attributable to Stratasys Ltd. for basic and diluted loss per share</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(10,157</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$         </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(20,827</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(30,001</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$       </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(62,458</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="17" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Denominator:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Weighted average shares – denominator for basic and diluted net loss per share</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">53,012</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,432</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,827</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,232</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="17" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Net loss per share attributable to Stratasys Ltd.</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Basic</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.19</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.40</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.57</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(1.20</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Diluted</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.19</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.40</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.57</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(1.20</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td></tr></table></div> The computation of diluted net loss per share excluded share awards of 4.2 million shares and 3.5 million shares for the three months ended September 30, 2017 and 2016, respectively, and 4.2 million shares and 3.6 million shares for the nine months ended September 30, 2017 and 2016, because their inclusion would have had an anti-dilutive effect on the diluted net 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 nine months ended September 30, 2017 and 2016: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="7" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Three months ended September 30,</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="7" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Nine months ended September 30,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2016</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2017</td> <td nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="15" nowrap="nowrap" style="width: 10%; text-align: center; font: 10pt Times New Roman, Times, Serif">In thousands, except per share amounts</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Numerator:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Net loss attributable to Stratasys Ltd. for basic and diluted loss per share</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(10,157</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$         </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(20,827</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(30,001</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$       </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(62,458</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="17" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Denominator:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Weighted average shares – denominator for basic and diluted net loss per share</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">53,012</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,432</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,827</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">52,232</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="17" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Net loss per share attributable to Stratasys Ltd.</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Basic</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.19</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.40</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(0.57</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(1.20</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Diluted</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.19</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.40</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(0.57</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(1.20</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td></tr></table></div>

Note 5. Income Taxes The Company had a negative effective tax rate of 35.8% for the three-month periods ended September 30, 2017 compared to a negative effective tax rate of 8.0% for the three-month periods ended September 30, 2016, and negative effective tax rate of 21.5% for the nine-month periods ended September 30, 2017 compared to a negative effective tax rate of 11.2% for the nine-month periods ended September 30, 2016. The Company’s effective tax rate was primarily impacted by the geographic mix of its earnings and losses, and was particularly driven by no tax benefit being recorded for the tax losses of its U.S. subsidiaries for the three-month periods and the nine-months periods ended September 30, 2017 and 2016.

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: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">September 30, 2017</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 7%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 2</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 3</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Total</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Assets:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="background-color: #c0c0c0; width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Liabilities:</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not  designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(948</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(948</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(696</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(696</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 10%; text-align: center; font: 10pt Times New Roman, Times, Serif">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 7%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 2</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 3</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Total</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Assets:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="background-color: #c0c0c0; width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Liabilities:</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(48</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(48</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Obligations in connection with acquisitions</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; background-color: #c0c0c0; text-align: right; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">1,368</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(1,251</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr></table></div> 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: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">Nine months ended</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">Year ended</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">September 30, 2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="7" style="text-align: center; width: 11%; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Fair value at the beginning of the period</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">2,619</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">6,991</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Settlements</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">                 (3,997</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">                 (3,500</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Change in fair value recognized in earnings</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">1,378</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">(872</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Fair value at the end of the period</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">-</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">2,619</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td></tr></table></div> The Companys obligations in connection with acquisitions were estimated utilizing Level 3 inputs, were related to the deferred payments for the Companys acquisition of Solid Concepts Inc. (the Solid Concepts transaction). As part of the Solid Concepts transaction, which was completed in July 2014, the Company was 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 retained the discretion to settle the deferred payments in its shares, cash or any combination of the two. The deferred payments were also subject to certain adjustments based on the Companys share price. During the third quarter of 2017, the Company issued 149,327 ordinary shares valued at $3.5 million and paid cash of $0.5 million to settle the third annual installment of the deferred payments. The deferred payments were classified as liabilities and were measured at fair value in the Companys consolidated balance sheets. The fair value of the deferred payments was determined based on the closing market price of the Companys 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 Companys share price and thus represents a Level 3 measurement within the fair value hierarchy. The fair-value revaluations of the deferred payments are presented under change in fair value of obligations in connection with acquisitions in the Companys consolidated statements of operations and comprehensive loss.

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: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif">September 30, 2017</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 7%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 2</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 3</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">     </td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Total</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Assets:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$     </td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="background-color: #c0c0c0; width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Liabilities:</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not  designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(948</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(948</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(696</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(696</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 10%; text-align: center; font: 10pt Times New Roman, Times, Serif">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="11" nowrap="nowrap" style="width: 7%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 2</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Level 3</td> <td nowrap="nowrap" style="width: 1%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="3" nowrap="nowrap" style="width: 3%; text-align: center; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Total</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Assets:</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td colspan="13" style="background-color: #c0c0c0; width: 100%; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif">Liabilities:</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts not designated as hedging instruments</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(48</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(48</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Foreign exchange forward contracts designated as hedging instruments</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: right; font: 10pt Times New Roman, Times, Serif">(61</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="background-color: #c0c0c0; width: 100%; text-align: left; padding-left: 30pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Obligations in connection with acquisitions</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; background-color: #c0c0c0; text-align: right; vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">-</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="background-color: #c0c0c0; width: 1%; text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="width: 100%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">1,368</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(2,619</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="width: 1%; text-align: right; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">(1,251</td> <td nowrap="nowrap" style="width: 1%; text-align: left; border-bottom: Black 2pt double; font: 10pt Times New Roman, Times, Serif">)</td></tr></table></div>

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: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">Nine months ended</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">Year ended</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">September 30, 2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">December 31, 2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="7" style="text-align: center; width: 11%; font: 10pt Times New Roman, Times, Serif">(U.S. $ in thousands)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Fair value at the beginning of the period</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">2,619</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">6,991</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Settlements</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">                 (3,997</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">                 (3,500</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Change in fair value recognized in earnings</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">1,378</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">(872</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 88%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Fair value at the end of the period</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">-</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">2,619</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td></tr></table></div>

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 Companys 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 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 Companys ability to hedge these exposures. The following table summarizes the condensed consolidated balance sheets classification and fair values of the Companys derivative instruments: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="7" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 11%">Fair Value</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">Notional Amount</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">December 31,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%; font: 10pt Times New Roman, Times, Serif">December 31,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%">Balance sheet location</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">2016</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 2%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 2%">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="13" style="text-align: center; width: 17%; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; background-color: #c0c0c0; text-indent: -15pt; padding-left: 15pt; font: 10pt Times New Roman, Times, Serif">Assets derivatives-Foreign exchange contracts, not designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Other current assets</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">19,029</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">39,982</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Assets derivatives-Foreign exchange contracts, designated as cash flow hedge</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">Other current assets</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif">11,889</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif">8,348</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Liability derivatives-Foreign exchange contracts, not designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Accrued expenses and other current liabilities</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">            (948</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">            (48</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">57,572</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">13,273</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Liability derivatives-Foreign exchange contracts, designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">Accrued expenses and other current liabilities</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">(61</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%">-</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%">7,534</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">(696</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">1,368</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">88,490</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">69,137</td></tr></table></div> As of September 30, 2017, the notional amounts of the Companys outstanding exchange forward contracts, not designated as hedging instruments, were $76.6 million and were used to reduce foreign currency exposures of the local currencies in the markets in which we operate, primarily the Euro, New Israeli Shekel (the NIS), Japanese Yen, Korean Won and Chinese Yuan. With respect to such derivatives, loss of $1.4 million and gain of $0.1 million were recognized under financial income (expense), net for the three-month periods ended September 30, 2017 and 2016, respectively, and losses of $4.1 million and $2.3 million were recognized under financial income, net for the nine-month periods ended September 30, 2017 and 2016, respectively. Such losses and gains partially offset the revaluation changes of foreign currencies the balance sheet items, which are also recognized under financial income (expense), net. As of September 30, 2017, the Company had in effect foreign exchange forward contracts, designated as cash flow hedge for accounting purposes, for the conversion of $11.9 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 Companys accumulated other comprehensive loss. These contracts mature through February 2018.

The following table summarizes the condensed consolidated balance sheets classification and fair values of the Companys derivative instruments: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="7" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 11%">Fair Value</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">Notional Amount</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%; font: 10pt Times New Roman, Times, Serif">December 31,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%; font: 10pt Times New Roman, Times, Serif">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%; font: 10pt Times New Roman, Times, Serif">December 31,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 1%">Balance sheet location</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 5%">2016</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 2%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">   </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 2%">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td colspan="13" style="text-align: center; width: 17%; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; background-color: #c0c0c0; text-indent: -15pt; padding-left: 15pt; font: 10pt Times New Roman, Times, Serif">Assets derivatives-Foreign exchange contracts, not designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Other current assets</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">177</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">1,440</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">19,029</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">39,982</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Assets derivatives-Foreign exchange contracts, designated as cash flow hedge</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">Other current assets</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">75</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">37</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif">11,889</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif">8,348</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Liability derivatives-Foreign exchange contracts, not designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Accrued expenses and other current liabilities</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">            (948</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">            (48</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">57,572</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">13,273</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="vertical-align: top; text-align: left; width: 80%; padding-left: 15pt; text-indent: -15pt; font: 10pt Times New Roman, Times, Serif">Liability derivatives-Foreign exchange contracts, designated as hedging instruments</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">Accrued expenses and other current liabilities</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">(61</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%">-</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%">7,534</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; width: 80%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">(696</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">1,368</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">88,490</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 1%; background-color: #c0c0c0">69,137</td></tr></table></div>

Stock-based compensation expenses for equity-classified stock options and RSUs were allocated as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="5" style="text-align: center; width: 9%; font: 10pt Times New Roman, Times, Serif">Three Months Ended</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="5" style="text-align: center; width: 9%; font: 10pt Times New Roman, Times, Serif">Nine Months Ended</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 9%">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 9%">September 30,</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">2016</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">2016</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 19%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Cost of sales</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">642</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">680</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">2,084</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">2,131</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif">Research and development, net</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">905</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">1,103</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">2,843</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">3,819</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Selling, general and administrative</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">3,351</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">3,001</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">9,206</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">9,936</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 80%; font: 10pt Times New Roman, Times, Serif">Total stock-based compensation expenses</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">      4,898</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">      4,784</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">      14,133</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">      15,886</td></tr></table></div>

A summary of the Companys stock option activity for the nine months ended September 30, 2017 is as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" style="text-align: center; width: 3%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 4%; font: 10pt Times New Roman, Times, Serif">Weighted Average</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">Number of Options</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">Exercise Price</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Options outstanding as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">2,615,461</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">37.21</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">2,038,698</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">20.53</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Exercised</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">(196,003</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">13.43</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">(630,962</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">38.40</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Options outstanding as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">                    3,827,194</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">                    29.35</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 96%; font: 10pt Times New Roman, Times, Serif">Options exercisable as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">1,457,880</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">39.17</td></tr></table></div>

A summary of the Companys RSUs activity for the nine months ended September 30, 2017 is as follows: <div align="center" style="font: 10pt Times New Roman, Times, Serif"> <table cellspacing="0" cellpadding="0" border="0" style="font: 10pt/14pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 3%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" style="text-align: center; width: 3%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 3%; font: 10pt Times New Roman, Times, Serif">Weighted Average</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: center; width: 3%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 4%">Number of RSUs</td> <td nowrap="nowrap" style="text-align: center; width: 1%; font: 10pt Times New Roman, Times, Serif">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; width: 3%">Grant Date Fair Value</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Unvested RSUs outstanding as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">267,756</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">$</td> <td nowrap="nowrap" style="text-align: right; width: 2%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">81.35</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif">267,014</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 2%; font: 10pt Times New Roman, Times, Serif">20.12</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">                  (111,299</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="text-align: right; width: 2%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">75.54</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; font: 10pt Times New Roman, Times, Serif">Vested</td> <td nowrap="nowrap" style="text-align: right; width: 3%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%">(80,233</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 2%">55.22</td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif">Unvested RSUs outstanding as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 3%; background-color: #c0c0c0">343,238</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0; font: 10pt Times New Roman, Times, Serif"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; font: 10pt Times New Roman, Times, Serif; text-align: right; width: 2%; background-color: #c0c0c0">41.71</td></tr></table></div>

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 Objets 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 Companys board of directors, in one of the lawsuits, Ilan Levin, the Companys 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 Companys 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 Companys 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 Courts 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 Courts 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.

111299

-0.57

-0.19

-0.40

-1.20

52827000

53012000

52432000

52232000

149327

3500000

500000

-4100000

-1400000

100000

-2300000

1368000

1440000

37000

177000

75000

1251000

696000

2619000

48000

61000

2619000

696000

948000

Note 8. Equity a. Stock-based compensation plans Stock-based compensation expenses for equity-classified stock options and RSUs were allocated as follows: <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="5" style="text-align: center; width: 9%">Three Months Ended</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="5" style="text-align: center; width: 9%">Nine Months Ended</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; text-align: center; width: 9%">September 30,</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="5" style="border-bottom: #000000 1pt solid; text-align: center; width: 9%">September 30,</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">2016</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">2017</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">2016</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 19%; border-bottom: Black 1pt solid">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%; background-color: #c0c0c0">Cost of sales</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">642</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">680</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">2,084</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">2,131</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%">Research and development, net</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">905</td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">1,103</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">2,843</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">3,819</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%; background-color: #c0c0c0">Selling, general and administrative</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">3,351</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">3,001</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">9,206</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">9,936</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 80%">Total stock-based compensation expenses</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">      4,898</td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">      4,784</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">      14,133</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">      15,886</td></tr></table></div> A summary of the Companys stock option activity for the nine months ended September 30, 2017 is as follows: <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%">      </td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 4%">Weighted Average</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%"></td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">Number of Options</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">Exercise Price</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0">Options outstanding as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">2,615,461</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">37.21</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%">Granted</td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">2,038,698</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">20.53</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0">Exercised</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">(196,003</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">13.43</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%">Forfeited</td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%">(630,962</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%">38.40</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%; background-color: #c0c0c0">Options outstanding as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">                    3,827,194</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">                    29.35</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 96%">Options exercisable as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">1,457,880</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%">39.17</td></tr></table></div> 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 employees continuous service to the Company. The fair value of stock options is determined using the Black-Scholes model. The weighted-average grant date fair value of options that were granted during the nine-month period ended September 30, 2017 was $11.1 per option. During the nine-month periods ended September 30, 2017 and 2016, the Company issued 196,003 shares and 102,511 shares, respectively, upon the exercise of stock options. This resulted in an increase in equity of $2.6 million and $0.8 million for the nine-month periods ended September 30, 2017 and 2016, respectively. As of September 30, 2017, the unrecognized compensation cost of $24.8 million related to all unvested, equity-classified stock options is expected to be recognized as an expense over a weighted-average period of 3.0 years. A summary of the Companys RSUs activity for the nine months ended September 30, 2017 is as follows: <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%">      </td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 3%">Weighted Average</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 4%">Number of RSUs</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="2" style="border-bottom: #000000 1pt solid; text-align: center; width: 3%">Grant Date Fair Value</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0">Unvested RSUs outstanding as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">267,756</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 2%; background-color: #c0c0c0">81.35</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%">Granted</td> <td nowrap="nowrap" style="text-align: right; width: 3%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">267,014</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 2%">20.12</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0">Forfeited</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">                  (111,299</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: right; width: 2%; background-color: #c0c0c0">75.54</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%">Vested</td> <td nowrap="nowrap" style="text-align: right; width: 3%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%">(80,233</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 2%">55.22</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 89%; background-color: #c0c0c0">Unvested RSUs outstanding as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: #c0c0c0">343,238</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 2%; background-color: #c0c0c0">41.71</td></tr></table></div> The fair value of RSUs is determined based on the quoted price of the Companys ordinary shares on the date of the grant. As of September 30, 2017, the unrecognized compensation cost of $8.6 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 tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2017 and 2016, respectively: <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%">      </td> <td nowrap="nowrap" colspan="11" style="border-bottom: #000000 1pt solid; text-align: center; width: 13%">Nine months ended September 30, 2017</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Net unrealized gain</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%">Foreign currency</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">(loss) on cash flow</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 3%">translation</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">hedges</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 3%">adjustments</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 3%">Total</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 13%">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0">Balance as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">(24</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0">                    (13,455</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0">     (13,479</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; padding-left: 15pt; text-indent: -15pt">Other comprehensive income before reclassifications</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">994</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 1%">5,103</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 1%">6,097</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt">Amounts reclassified from accumulated other comprehensive loss</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">                           (894</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%; background-color: #c0c0c0">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%; background-color: #c0c0c0">(894</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%">Other comprehensive income</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%">100</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%">5,103</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%">5,203</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0">Balance as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: #c0c0c0">76</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 1%; background-color: #c0c0c0">(8,352</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 1%; background-color: #c0c0c0">(8,276</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr></table></div> <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="11" style="border-bottom: #000000 1pt solid; text-align: center; width: 17%">Nine months ended September 30, 2016</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Net unrealized gain</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Foreign currency</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">(loss) on cash flow</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">translation</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"> </td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">Hedges</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">adjustments</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">Total</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 17%">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: #c0c0c0">Balance as of January 1, 2016</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">                          (107</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">                   (10,667</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">     (10,774</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%">Other comprehensive income (loss) before reclassifications</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">813</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">(324</td> <td nowrap="nowrap" style="text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">489</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 82%; background-color: Silver; padding-left: 15pt; text-indent: -15pt">Amounts reclassified from accumulated other comprehensive loss</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">(385</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">(385</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver">)</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: White">Other comprehensive income</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">428</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">(324</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">104</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: Silver">Balance as of September 30, 2016</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">321</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">(10,991</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">(10,670</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">)</td></tr></table></div>

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of taxes, for the nine months ended September 30, 2017 and 2016, respectively: <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%">      </td> <td nowrap="nowrap" colspan="11" style="border-bottom: #000000 1pt solid; text-align: center; width: 13%">Nine months ended September 30, 2017</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Net unrealized gain</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="2" style="text-align: center; width: 2%">Foreign currency</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">(loss) on cash flow</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 3%">translation</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">hedges</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 3%">adjustments</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 3%">Total</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 13%">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0">Balance as of January 1, 2017</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">(24</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0">                    (13,455</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0">     (13,479</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; padding-left: 15pt; text-indent: -15pt">Other comprehensive income before reclassifications</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">994</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 1%">5,103</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 1%">6,097</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0; padding-left: 15pt; text-indent: -15pt">Amounts reclassified from accumulated other comprehensive loss</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: #c0c0c0">                           (894</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%; background-color: #c0c0c0">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%; background-color: #c0c0c0">(894</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%">Other comprehensive income</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%">100</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%">5,103</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 1%">5,203</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 86%; background-color: #c0c0c0">Balance as of September 30, 2017</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: #c0c0c0">76</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 1%; background-color: #c0c0c0">(8,352</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 1%; background-color: #c0c0c0">(8,276</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr></table></div> <div align="center"> <table cellspacing="0" cellpadding="0" border="0" style="line-height: 14pt; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="11" style="border-bottom: #000000 1pt solid; text-align: center; width: 17%">Nine months ended September 30, 2016</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Net unrealized gain</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">Foreign currency</td> <td nowrap="nowrap" style="text-align: center; width: 1%">      </td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">(loss) on cash flow</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="text-align: center; width: 5%">translation</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" style="text-align: center; width: 3%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"> </td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">Hedges</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">adjustments</td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="3" style="border-bottom: #000000 1pt solid; text-align: center; width: 5%">Total</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%"></td> <td nowrap="nowrap" style="text-align: center; width: 1%"></td> <td nowrap="nowrap" colspan="11" style="text-align: center; width: 17%">U.S. $ in thousands</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: #c0c0c0">Balance as of January 1, 2016</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">                          (107</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">                   (10,667</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: #c0c0c0"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">$</td> <td nowrap="nowrap" style="text-align: right; width: 3%; background-color: #c0c0c0">     (10,774</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: #c0c0c0">)</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%">Other comprehensive income (loss) before reclassifications</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">813</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">(324</td> <td nowrap="nowrap" style="text-align: left; width: 1%">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td> <td nowrap="nowrap" style="text-align: right; width: 3%">489</td> <td nowrap="nowrap" style="text-align: left; width: 1%"></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; width: 82%; background-color: Silver; padding-left: 15pt; text-indent: -15pt">Amounts reclassified from accumulated other comprehensive loss</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">(385</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">-</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: Silver">(385</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: Silver">)</td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: White">Other comprehensive income</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">428</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">(324</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: right; width: 3%; background-color: White">104</td> <td nowrap="nowrap" style="border-bottom: #000000 1pt solid; text-align: left; width: 1%; background-color: White"></td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="text-align: left; width: 82%; background-color: Silver">Balance as of September 30, 2016</td> <td nowrap="nowrap" style="text-align: right; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">321</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">(10,991</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">)</td> <td nowrap="nowrap" style="text-align: left; width: 1%; background-color: Silver"></td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">$</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: right; width: 3%; background-color: Silver">(10,670</td> <td nowrap="nowrap" style="border-bottom: #000000 2pt double; text-align: left; width: 1%; background-color: Silver">)</td></tr></table></div>

1476000

1386000

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Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	STRATASYS LTD.
Entity Central Index Key	0001517396
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	Sep. 30, 2017
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017

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Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 302,795	$ 280,328
Accounts receivable, net	120,504	120,411
Inventories	124,056	117,521
Net investment in sales-type leases	8,499	11,717
Prepaid expenses	7,167	7,571
Other current assets	19,635	15,491
Total current assets	582,656	553,039
Non-current assets
Net investment in sales-type leases - long-term	5,844	12,126
Property, plant and equipment, net	202,995	208,415
Goodwill	386,887	385,629
Other intangible assets, net	152,807	177,458
Other non-current assets	32,137	29,382
Total non-current assets	780,670	813,010
Total assets	1,363,326	1,366,049
Current liabilities
Accounts payable	44,490	40,933
Current portion of long-term debt	3,714	3,714
Accrued expenses and other current liabilities	28,486	32,207
Accrued compensation and related benefits	34,338	34,186
Obligations in connection with acquisitions		3,619
Deferred revenues	51,834	49,952
Total current liabilities	162,862	164,611
Non-current liabilities
Long-term debt	19,500	22,286
Deferred tax liabilities	2,625	5,952
Deferred revenues - long-term	14,181	12,922
Other non-current liabilities	28,682	22,251
Total non-current liabilities	64,988	63,411
Total liabilities	227,850	228,022
Contingencies (see note 9)
Redeemable non-controlling interests	1,721	2,029
Equity
Ordinary shares, NIS 0.01 nominal value, authorized 180,000 thousands shares; 53,202 thousands shares and 52,639 thousands shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	143	142
Additional paid-in capital	2,655,754	2,633,129
Accumulated other comprehensive loss	(8,276)	(13,479)
Accumulated deficit	(1,513,926)	(1,483,925)
Equity attributable to Stratasys Ltd.	1,133,695	1,135,867
Non-controlling interests	60	131
Total equity	1,133,755	1,135,998
Total liabilities and equity	$ 1,363,326	$ 1,366,049

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Consolidated Balance Sheets (Parenthetical) - ₪ / shares shares in Thousands	Sep. 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	53,202	52,639
Common stock, shares outstanding	53,202	52,639

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Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales
Products	$ 108,401	$ 110,083	$ 344,509	$ 352,475
Services	47,466	47,093	144,510	144,680
Total net sales	155,867	157,176	489,019	497,155
Cost of sales
Products	49,840	54,332	159,043	172,683
Services	30,788	29,163	94,465	90,090
Total cost of sales	80,628	83,495	253,508	262,773
Gross profit	75,239	73,681	235,511	234,382
Operating expenses
Research and development, net	21,767	23,993	69,652	73,474
Selling, general and administrative	60,280	69,069	189,028	218,340
Change in fair value of obligations in connection with acquisitions	65	(24)	1,378	116
Total operating expenses	82,112	93,038	260,058	291,930
Operating loss	(6,873)	(19,357)	(24,547)	(57,548)
Financial income (expense), net	(305)	104	380	1,216
Loss before income taxes	(7,178)	(19,253)	(24,167)	(56,332)
Income tax expenses	2,571	1,538	5,205	6,283
Share in loss of associated company	(489)	(182)	(1,006)	(182)
Net loss	(10,238)	(20,973)	(30,378)	(62,797)
Net loss attributable to non-controlling interests	(81)	(146)	(377)	(339)
Net loss attributable to Stratasys Ltd.	$ (10,157)	$ (20,827)	$ (30,001)	$ (62,458)
Net loss per ordinary share attributable to Stratasys Ltd. - basic and diluted	$ (0.19)	$ (0.40)	$ (0.57)	$ (1.20)
Weighted average ordinary shares outstanding - basic and diluted	53,012	52,432	52,827	52,232
Comprehensive loss
Net loss	$ (10,238)	$ (20,973)	$ (30,378)	$ (62,797)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,953	(704)	5,103	(324)
Unrealized gains on derivatives designated as cash flow hedges	(86)	37	100	428
Other comprehensive income (loss), net of tax	1,867	(667)	5,203	104
Comprehensive loss	(8,371)	(21,640)	(25,175)	(62,693)
Less: comprehensive loss attributable to non-controlling interests	(81)	(146)	(377)	(339)
Comprehensive loss attributable to Stratasys Ltd.	$ (8,290)	$ (21,494)	$ (24,798)	$ (62,354)

XML 14 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net loss	$ (30,378)	$ (62,797)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	49,791	69,743
Stock-based compensation	14,133	15,886
Foreign currency transaction gain	(8,678)	(4,260)
Deferred income taxes	(3,086)	(6,207)
Change in fair value of obligations in connection with acquisitions	1,378	116
Impairment of other intangibles assets		1,779
Other items	2,279	1,706
Change in cash attributable to changes in operating assets and liabilities:
Accounts receivable, net	3,218	15,194
Inventories	(5,984)	(5,447)
Net investment in sales-type leases	9,500	2,693
Other current assets and prepaid expenses	(1,053)	1,355
Other non-current assets	540	792
Accounts payable	3,472	(1,250)
Other current liabilities	(2,678)	(6,989)
Deferred revenues	1,706	937
Other non-current liabilities	6,706	12,768
Net cash provided by operating activities	40,866	36,019
Cash flows from investing activities
Purchase of property and equipment	(15,879)	(31,689)
Investment in unconsolidated entities	(2,548)	(23,064)
Purchase of intangible assets	(1,227)	(1,128)
Proceeds from maturities of short-term bank deposits		68,363
Investments in short-term bank deposits		(67,079)
Other investing activities	(113)	(212)
Net cash used in investing activities	(19,767)	(54,809)
Cash flows from financing activities
Repayment of current portion of long-term debt	(2,786)
Payments of obligations in connection with acquisitions	(1,476)	(1,386)
Proceeds from exercise of stock options	2,632	817
Net cash used in financing activities	(1,630)	(569)
Effect of exchange rate changes on cash and cash equivalents	2,998	1,112
Net change in cash and cash equivalents	22,467	(18,247)
Cash and cash equivalents, beginning of period	280,328	257,592
Cash and cash equivalents, end of period	302,795	239,345
Supplemental disclosures of cash flow information:
Transfer of fixed assets to inventory	1,326	1,032
Transfer of inventory to fixed assets	$ 4,248	$ 4,309

XML 15 R6.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Consolidation

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

Note 1. Basis of Presentation and Consolidation

Recently issued and adopted accounting pronouncements

XML 16 R7.htm IDEA: XBRL DOCUMENT

Inventories

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Inventories

Note 2. Inventories

Inventories, net consisted of the following:

	September 30,		December 31,
	2017		2016
	U.S. $ in thousands
Finished goods	$	68,419	$	62,728
Work-in-process		2,300		2,389
Raw materials		53,337		52,404
	$	124,056	$	117,521

XML 17 R8.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 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 nine-months ended September 30, 2017 were as follows:

	U.S. $ in millions
Goodwill as of January 1, 2017	$	385.6
Translation differences		1.3
Goodwill as of September 30, 2017	$	386.9

Other Intangible Assets

Other intangible assets consisted of the following:

	September 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	$	(214,985	)	$	89,781	$	304,766	$	(198,632	)	$	106,134
Patents		20,180		(13,817	)		6,363		19,009		(12,257	)		6,752
Trademarks and trade names		27,829		(17,882	)		9,947		27,819		(16,849	)		10,970
Customer relationships		106,986		(61,104	)		45,882		106,571		(54,258	)		52,313
Capitalized software development costs		19,540		(18,706	)		834		19,540		(18,251	)		1,289
	$	479,301	$	(326,494	)	$	152,807	$	477,705	$	(300,247	)	$	177,458

As of September 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 3 months of 2017	$	8,680
2018		33,262
2019		32,391
2020		32,009
2021		31,415
Thereafter		15,050
Total		152,807

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

XML 18 R9.htm IDEA: XBRL DOCUMENT

Loss Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

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 nine months ended September 30, 2017 and 2016:

	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
	In thousands, except per share amounts
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$	(10,157	)	$	(20,827	)	$	(30,001	)	$	(62,458	)

Denominator:
Weighted average shares – denominator for basic and diluted net loss per share		53,012			52,432			52,827			52,232

Net loss per share attributable to Stratasys Ltd.
Basic	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)
Diluted	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)

XML 19 R10.htm IDEA: XBRL DOCUMENT

Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

Note 5. Income Taxes

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Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 6. Fair Value Measurements

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:

	September 30, 2017
	(U.S. $ in thousands)
	Level 2			Level 3			Total
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$	177		$	-		$	177
Foreign exchange forward contracts designated as hedging instruments		75			-			75

Liabilities:
Foreign exchange forward contracts not designated as hedging instruments		(948	)		-			(948	)
	$	(696	)	$	-		$	(696	)

	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	)

Other fair value disclosures

	Nine months ended			Year ended
	September 30, 2017			December 31, 2016
	(U.S. $ in thousands)
Fair value at the beginning of the period	$	2,619		$	6,991
Settlements		(3,997	)		(3,500	)
Change in fair value recognized in earnings		1,378			(872	)
Fair value at the end of the period	$	-		$	2,619

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 21 R12.htm IDEA: XBRL DOCUMENT

Derivative instruments and hedging activities

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments and hedging activities

Note 7. Derivative instruments and hedging activities

The following table summarizes the condensed consolidated balance sheets classification and fair values of the Company’s derivative instruments:

		Fair Value						Notional Amount
		September 30,			December 31,			September 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	$	177		$	1,440		$	19,029	$	39,982
Assets derivatives-Foreign exchange contracts, designated as cash flow hedge	Other current assets		75			37			11,889		8,348
Liability derivatives-Foreign exchange contracts, not designated as hedging instruments	Accrued expenses and other current liabilities		(948	)		(48	)		57,572		13,273
Liability derivatives-Foreign exchange contracts, designated as hedging instruments	Accrued expenses and other current liabilities		-			(61	)		-		7,534
		$	(696	)	$	1,368		$	88,490	$	69,137

XML 22 R13.htm IDEA: XBRL DOCUMENT

Equity

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
	U.S. $ in thousands
Cost of sales	$	642	$	680	$	2,084	$	2,131
Research and development, net		905		1,103		2,843		3,819
Selling, general and administrative		3,351		3,001		9,206		9,936
Total stock-based compensation expenses	$	4,898	$	4,784	$	14,133	$	15,886

A summary of the Company’s stock option activity for the nine months ended September 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	2,038,698			20.53
Exercised	(196,003	)		13.43
Forfeited	(630,962	)		38.40
Options outstanding as of September 30, 2017	3,827,194		$	29.35
Options exercisable as of September 30, 2017	1,457,880		$	39.17

A summary of the Company’s RSUs activity for the nine months ended September 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	267,014			20.12
Forfeited	(111,299	)		75.54
Vested	(80,233	)		55.22
Unvested RSUs outstanding as of September 30, 2017	343,238		$	41.71

The fair value of RSUs is determined based on the quoted price of the Company’s ordinary shares on the date of the grant.

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 nine months ended September 30, 2017 and 2016, respectively:

	Nine months ended September 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		994			5,103			6,097
Amounts reclassified from accumulated other comprehensive loss		(894	)		-			(894	)
Other comprehensive income		100			5,103			5,203
Balance as of September 30, 2017	$	76		$	(8,352	)	$	(8,276	)

	Nine months ended September 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 income (loss) before reclassifications		813			(324	)		489
Amounts reclassified from accumulated other comprehensive loss		(385	)		-			(385	)
Other comprehensive income		428			(324	)		104
Balance as of September 30, 2016	$	321		$	(10,991	)	$	(10,670	)

XML 23 R14.htm IDEA: XBRL DOCUMENT

Contingencies

9 Months Ended

Sep. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Note 9. Contingencies

Claims Related to Company Equity

Securities Law Class Actions

XML 24 R15.htm IDEA: XBRL DOCUMENT

Inventories (Tables)

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories, net consisted of the following:

	September 30,		December 31,
	2017		2016
	U.S. $ in thousands
Finished goods	$	68,419	$	62,728
Work-in-process		2,300		2,389
Raw materials		53,337		52,404
	$	124,056	$	117,521

XML 25 R16.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 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 nine-months ended September 30, 2017 were as follows:

	U.S. $ in millions
Goodwill as of January 1, 2017	$	385.6
Translation differences		1.3
Goodwill as of September 30, 2017	$	386.9

Schedule of Other Intangible Assets

Other intangible assets consisted of the following:

	September 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	$	(214,985	)	$	89,781	$	304,766	$	(198,632	)	$	106,134
Patents		20,180		(13,817	)		6,363		19,009		(12,257	)		6,752
Trademarks and trade names		27,829		(17,882	)		9,947		27,819		(16,849	)		10,970
Customer relationships		106,986		(61,104	)		45,882		106,571		(54,258	)		52,313
Capitalized software development costs		19,540		(18,706	)		834		19,540		(18,251	)		1,289
	$	479,301	$	(326,494	)	$	152,807	$	477,705	$	(300,247	)	$	177,458

Schedule of Estimated Amortization Expense Relating to Intangible Assets

As of September 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 3 months of 2017	$	8,680
2018		33,262
2019		32,391
2020		32,009
2021		31,415
Thereafter		15,050
Total		152,807

XML 26 R17.htm IDEA: XBRL DOCUMENT

Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2017

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 and nine months ended September 30, 2017 and 2016:

	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
	In thousands, except per share amounts
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$	(10,157	)	$	(20,827	)	$	(30,001	)	$	(62,458	)

Denominator:
Weighted average shares – denominator for basic and diluted net loss per share		53,012			52,432			52,827			52,232

Net loss per share attributable to Stratasys Ltd.
Basic	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)
Diluted	$	(0.19	)	$	(0.40	)	$	(0.57	)	$	(1.20	)

XML 27 R18.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

9 Months Ended

Sep. 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:

	September 30, 2017
	(U.S. $ in thousands)
	Level 2			Level 3			Total
Assets:
Foreign exchange forward contracts not designated as hedging instruments	$	177		$	-		$	177
Foreign exchange forward contracts designated as hedging instruments		75			-			75

Liabilities:
Foreign exchange forward contracts not designated as hedging instruments		(948	)		-			(948	)
	$	(696	)	$	-		$	(696	)

	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

	Nine months ended			Year ended
	September 30, 2017			December 31, 2016
	(U.S. $ in thousands)
Fair value at the beginning of the period	$	2,619		$	6,991
Settlements		(3,997	)		(3,500	)
Change in fair value recognized in earnings		1,378			(872	)
Fair value at the end of the period	$	-		$	2,619

XML 28 R19.htm IDEA: XBRL DOCUMENT

Derivative instruments and hedging activities (Tables)

9 Months Ended

Sep. 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
		September 30,			December 31,			September 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	$	177		$	1,440		$	19,029	$	39,982
Assets derivatives-Foreign exchange contracts, designated as cash flow hedge	Other current assets		75			37			11,889		8,348
Liability derivatives-Foreign exchange contracts, not designated as hedging instruments	Accrued expenses and other current liabilities		(948	)		(48	)		57,572		13,273
Liability derivatives-Foreign exchange contracts, designated as hedging instruments	Accrued expenses and other current liabilities		-			(61	)		-		7,534
		$	(696	)	$	1,368		$	88,490	$	69,137

XML 29 R20.htm IDEA: XBRL DOCUMENT

Equity (Tables)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
	U.S. $ in thousands
Cost of sales	$	642	$	680	$	2,084	$	2,131
Research and development, net		905		1,103		2,843		3,819
Selling, general and administrative		3,351		3,001		9,206		9,936
Total stock-based compensation expenses	$	4,898	$	4,784	$	14,133	$	15,886

Summary of Stock Options Activity

A summary of the Company’s stock option activity for the nine months ended September 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	2,038,698			20.53
Exercised	(196,003	)		13.43
Forfeited	(630,962	)		38.40
Options outstanding as of September 30, 2017	3,827,194		$	29.35
Options exercisable as of September 30, 2017	1,457,880		$	39.17

Summary of RSUs activity

A summary of the Company’s RSUs activity for the nine months ended September 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	267,014			20.12
Forfeited	(111,299	)		75.54
Vested	(80,233	)		55.22
Unvested RSUs outstanding as of September 30, 2017	343,238		$	41.71

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 nine months ended September 30, 2017 and 2016, respectively:

	Nine months ended September 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		994			5,103			6,097
Amounts reclassified from accumulated other comprehensive loss		(894	)		-			(894	)
Other comprehensive income		100			5,103			5,203
Balance as of September 30, 2017	$	76		$	(8,352	)	$	(8,276	)

	Nine months ended September 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 income (loss) before reclassifications		813			(324	)		489
Amounts reclassified from accumulated other comprehensive loss		(385	)		-			(385	)
Other comprehensive income		428			(324	)		104
Balance as of September 30, 2016	$	321		$	(10,991	)	$	(10,670	)

XML 30 R21.htm IDEA: XBRL DOCUMENT

Basis of Presentation and Consolidation (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cumulative-effect adjustment to net operating loss from adoption of new accounting pronouncement	$ 5

XML 31 R22.htm IDEA: XBRL DOCUMENT

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 68,419	$ 62,728
Work-in-process	2,300	2,389
Raw materials	53,337	52,404
Total Inventory	$ 124,056	$ 117,521

XML 32 R23.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangible Assets (Schedule of Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill as of January 1, 2017	$ 385,629
Translation differences	1,300
Goodwill as of September 30, 2017	$ 386,887

XML 33 R24.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 479,301	$ 477,705
Accumulated Amortization	(326,494)	(300,247)
Net Book Value	152,807	177,458
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	304,766	304,766
Accumulated Amortization	(214,985)	(198,632)
Net Book Value	89,781	106,134
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	20,180	19,009
Accumulated Amortization	(13,817)	(12,257)
Net Book Value	6,363	6,752
Trademarks and trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	27,829	27,819
Accumulated Amortization	(17,882)	(16,849)
Net Book Value	9,947	10,970
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	106,986	106,571
Accumulated Amortization	(61,104)	(54,258)
Net Book Value	45,882	52,313
Capitalized software development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,540	19,540
Accumulated Amortization	(18,706)	(18,251)
Net Book Value	$ 834	$ 1,289

XML 34 R25.htm IDEA: XBRL DOCUMENT

Goodwill and Other Intangible Assets (Schedule of Estimated Amortization Expense Relating to Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining 3 months of 2017	$ 8,680		$ 8,680
2018	33,262		33,262
2019	32,391		32,391
2020	32,009		32,009
2021	31,415		31,415
Thereafter	15,050		15,050
Net Book Value	152,807		152,807
Amortization of intangible assets	$ 8,800	$ 14,700	$ 26,100	$ 43,900

XML 35 R26.htm IDEA: XBRL DOCUMENT

Loss Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of net loss per share	4.2	3.5	4.2	3.6

XML 36 R27.htm IDEA: XBRL DOCUMENT

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net loss attributable to Stratasys Ltd. for basic and diluted loss per share	$ (10,157)	$ (20,827)	$ (30,001)	$ (62,458)
Denominator:
Weighted average shares - denominator for basic and diluted net loss per share	53,012	52,432	52,827	52,232
Net loss per share attributable to Stratasys Ltd.
Basic	$ (0.19)	$ (0.40)	$ (0.57)	$ (1.20)
Diluted	$ (0.19)	$ (0.40)	$ (0.57)	$ (1.20)

XML 37 R28.htm IDEA: XBRL DOCUMENT

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	(35.80%)	(8.00%)	(21.50%)	(11.20%)

XML 38 R29.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Narrative) (Details) - Solid Concepts Inc [Member] - Ordinary Shares [Member] $ in Thousands	3 Months Ended
	Dec. 31, 2016 USD ($) shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ordinary shares issued as consideration for business acquisition \| shares	149,327
Value of ordinary shares issued as consideration for business acquisition	$ 3,500
Cash given as consideration for business acquisition	$ 500

XML 39 R30.htm IDEA: XBRL DOCUMENT

Fair Value Measurement (Schedule of Fair Value Measurements) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	$ (696)	$ (1,251)
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,368
Derivative liabilities	(696)
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities		(2,619)
Foreign Exchange Future [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	177	1,440
Derivative liabilities	(948)	(48)
Foreign Exchange Future [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	177	1,440
Derivative liabilities	(948)	(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	75	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	75	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		(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		$ (2,619)

XML 40 R31.htm IDEA: XBRL DOCUMENT

Fair Value Measurement (Schedule of Fair Value Measurements of Assets and Liabilities Utilizing Level 3 Inputs) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 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 the period	$ 2,619	$ 6,991
Settlements	(3,997)	(3,500)
Change in fair value recognized in earnings	1,378	(872)
Fair value at the end of the period		$ 2,619

XML 41 R32.htm IDEA: XBRL DOCUMENT

Derivative instruments and hedging activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Assets derivatives - Notional amount	$ 76.6		$ 76.6
Gain (Loss) on derivative instrument	(1.4)	$ 0.1	(4.1)	$ (2.3)
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	$ 11.9		$ 11.9

XML 42 R33.htm IDEA: XBRL DOCUMENT

Derivatives and Hedging Activities (Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Notional amount of derivative asset	$ 76,600
Fair value	(696)	$ 1,368
Notional amount	88,490	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	177	1,440
Notional amount of derivative asset	19,029	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	(948)	(48)
Notional amount of derivative liability	57,572	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	75	37
Notional amount of derivative asset	11,889	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

XML 43 R34.htm IDEA: XBRL DOCUMENT

Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted	$ 11.1
Number of options exercised	196,003	102,511
Increase in equity	$ 2.6	$ 0.8
Stock option term	10 years
Vesting period	4 years
Unrecognized compensation cost	$ 24.8
Weighted average period for recognition	3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 8.6
Weighted average period for recognition	2 years 10 months 25 days

XML 44 R35.htm IDEA: XBRL DOCUMENT

Equity (Schedule of Stock-based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 4,898	$ 4,784	$ 14,133	$ 15,886
Cost of sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	642	680	2,084	2,131
Research and development, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	905	1,103	2,843	3,819
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expenses	$ 3,351	$ 3,001	$ 9,206	$ 9,936

XML 45 R36.htm IDEA: XBRL DOCUMENT

Equity (Schedule of Stock Option Activity) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Number of Options
Balance, beginning	2,615,461
Granted	2,038,698
Exercised	(196,003)	(102,511)
Forfeited	(630,962)
Balance, ending	3,827,194
Exercisable	1,457,880
Weighted Average Exercise Price
Balance, beginning	$ 37.21
Granted	20.53
Exercised	13.43
Forfeited	38.40
Balance, ending	29.35
Exercisable	$ 39.17

XML 46 R37.htm IDEA: XBRL DOCUMENT

Equity (Summary of RSUs activity) (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2017 $ / shares shares
Number of RSUs
Unvested RSUs outstanding, beginning \| shares	267,756
Granted \| shares	267,014
Forfeited \| shares	(111,299)
Vested \| shares	(80,233)
Unvested RSUs outstanding, ending \| shares	343,238
Weighted Average Grant Date Fair Value
Unvested RSUs outstanding, beginning \| $ / shares	$ 81.35
Granted \| $ / shares	20.12
Forfeited \| $ / shares	75.54
Vested \| $ / shares	55.22
Unvested RSUs outstanding, ending \| $ / shares	$ 41.71

XML 47 R38.htm IDEA: XBRL DOCUMENT

Equity (Schedule of Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 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	6,097	489
Amounts reclassified from accumulated other comprehensive loss	(894)	(385)
Other comprehensive income	5,203	104
Balance as of end of period	(8,276)	(10,670)
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	994	813
Amounts reclassified from accumulated other comprehensive loss	(894)	(385)
Other comprehensive income	100	428
Balance as of end of period	76	321
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	5,103	(324)
Amounts reclassified from accumulated other comprehensive loss
Other comprehensive income	5,103	(324)
Balance as of end of period	$ (8,352)	$ (10,991)

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