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Fair Value Measurements | 12 Months Ended
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Dec. 31, 2015
Fair Value Measurements [Abstract] |
Fair Value Measurements | Note 22 - Fair Value Measurements The level in the fair value hierarchy within which an asset or liability is classified is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company measures its foreign currency derivative contracts and its long-term liabilities with respect to contingent consideration at fair value. The Company’s foreign currency derivative contracts are classified within Level 2, because they are valued utilizing market observable inputs. The long-term liabilities arising from contingent consideration are classified within Level 3 because they are valued using significant inputs that are unobservable in the market such as the Company’s weighted average cost of capital. The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and December 31, 2014, aggregated by the level in the fair-value hierarchy within which those measurements fall:
|  |  |  |  | Quoted Prices in |  |  |  |  |  | Significant |
|  |  |  |  | Active Markets for |  |  | Significant Other |  |  | Unobservable |
|  | December 31, |  |  | Identical Assets |  |  | Observable Inputs |  |  | Inputs |
Description |  | 2015 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
|  | U.S. Dollars |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency |  |  |  |  |  |  |  |  |  |  |  |
derivative contracts |  |  | 3 |  |  |  | - |  |  |  | 3 |  |  |  | - |
Total Assets |  |  | 3 |  |  |  | - |  |  |  | 3 |  |  |  | - |
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
|  | December 31, 2014 |  |  |  |  |  |  |
Description |  |  |  |  |  |  |  |
|  | U.S. Dollars |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency |  |  |  |  |  |  |  |  |  |  |  |
derivative contracts |  |  | 89 |  |  |  | - |  |  |  | 89 |  |  |  | - |
Contingent consideration |  |  | 1,900 |  |  |  | - |  |  |  | - |  |  |  | 1,900 |
Total Liabilities |  |  | 1,989 |  |  |  | - |  |  |  | 89 |  |  |  | 1,900 |
The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of level 1, level 2, or level 3 for the years ended December 31, 2015 and 2014. The following tables present a roll-forward of the fair value of Level 3 (significant unobservable inputs) liabilities for the year ended December 31, 2015 and 2014:
|  | Level 3 U.S. Dollars |
|  | Contingent consideration |
December 31, 2014 |  |  | 1,900 |
Settlement of liabilities |  |  | (2,001 | )
Revaluation of fair value included in statement of operations |  |  | 101 |
December 31, 2015 |  |  | - |
|  | Level 3 U.S. Dollars |
|  | Contingent consideration |
December 31, 2013 |  |  | 2,030 |
Settlement of liabilities |  |  | (268 | )
Revaluation of fair value included in statement of operations |  |  | 138 |
December 31, 2014 |  |  | 1,900 |
The adjustments to fair value of the contingent consideration are recorded in the finance income (expense), net in the statement of operations. The fair value of the contingent payment for Printar as of December 31, 2014, was based on the $2,000 outstanding of the $2,500 transaction price, discounted from the estimated payment dates to the valuation date using the weighted average cost of capital of 28%. That measure is based on significant inputs that are not observable in the market, which ASC Section 820-10-35 refers to as Level 3 inputs. Key assumptions include management’s estimation about future sales.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
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