XML 33 R18.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Derivatives and Hedging Activities | 12 Months Ended
--- | ---
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives and Hedging Activities | Note 12. Derivatives and Hedging Activities The Company carries out transactions involving foreign currency exchange derivative financial instruments. The transactions are designed to hedge the Company’s exposure in currencies other than the U.S. dollar. 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. Gains and losses on the hedging instruments offset losses and gains on the hedged items. The following table summarizes the consolidated balance sheets classification and fair values of the Company’s derivative instruments:
|  |  |  | Fair Value |  | Notional Amount
|  |  |  | December 31, |  | December 31, |  | December 31, |  | December 31,
|  | Balance sheet location |  | 2018 |  | 2017 |  | 2018 |  | 2017
|  |  |  | (U.S. $ in thousands)
Assets derivatives -Foreign exchange contracts, not designated as hedging instruments |  | Other current assets |  | $ | 374 |  |  | $ | 90 |  |  | $ | 34,695 |  | $ | 22,036
Assets derivatives -Foreign exchange contracts, designated as cash flow hedge |  | Other current assets |  |  | - |  |  |  | 263 |  |  |  | - |  |  | 13,169
Liability derivatives -Foreign exchange contracts, not designated as hedging instruments |  | Accrued expenses and other current liabilities |  |  | (196 | ) |  |  | (921 | ) |  |  | 54,425 |  |  | 65,668
Liability derivatives -Foreign exchange contracts, designated as cash flow hedge |  | Accrued expenses and other current liabilities |  |  | (628 | ) |  |  | - |  |  |  | 41,303 |  |  | -
|  |  |  | $ | (450 | ) |  | $ | (568 | ) |  | $ | 130,423 |  | $ | 100,873
As of December 31, 2018, the notional amounts of the Company’s outstanding exchange forward contracts, not designated as hedging instruments, were $89.1 million and were used to reduce foreign currency exposures of the Euro, New Israeli Shekel (the “NIS”), Japanese Yen, Korean Won and Chinese Yuan. With respect to such derivatives, gain of $2.0 million and loss of $5.0 million were recognized under financial income, net for the years ended December 31, 2018 and 2017, respectively. Such gains and losses partially offset the revaluation losses of the balance sheet items, which are also recognized under financial income, net. As of December 31, 2018 and 2017, the Company had in effect foreign exchange forward contracts for the conversion of $41.3 million and $13.2 million, respectively, into NIS. These foreign exchange forward contracts were designated as cash flow hedge for accounting purposes. 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 New Israeli Shekels. The changes in fair value of those contracts are included in the Company’s accumulated other comprehensive loss. These contracts mature through December, 2019.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration