Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Assets and liabilities measured at fair value on a recurring basis

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2014 (U.S. dollars in thousands):

	Fair Value at December 31, 2013
	Level 1		Level 2		Level 3		Total

Financial assets (liabilities):
Cash equivalents and current investments	$	61,136	$	-	$	-	$	61,136
Forward contracts		-		1,939		-		1,939
Life insurance contracts		-		-		23,172		23,172
Total	$	61,136	$	1,939	$	23,172	$	86,247

	Fair Value at December 31, 2014
	Level 1		Level 2		Level 3		Total

Financial assets (liabilities):
Cash equivalents and current investments	$	86,574	$	-	$	-	$	86,574
Forward contracts		-		1,661		-		1,661
Life insurance contracts		-		-		26,280		26,280
Total	$	86,574	$	1,661	$	26,280	$	114,515

Summary of changes in fair value of marketable securities

The following table provides a summary of changes in fair value of the Company's Level 3 marketable securities (U.S. dollars in thousands):

Life Insurance Contracts	2013			2014

Beginning balance at January 1	$	18,605		$	$23,172
Actual return on plan assets:
Relating to assets still held at the reporting date		2,568			1,249
Purchases and issuances		3,408			2,798
Sales and settlements		(1,409	)		(939	)
Transfers into Level 3		-			-
Ending balance at December 31	$	23,172		$	26,280

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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