15. ADDITIONAL QUARTERLY DISCLOSURES

Inventory

Inventories consist of the following (U.S. dollars in thousands):

	March 31, 2016		December 31, 2015

Raw materials	$	135,496	$	114,193
Finished goods		139,785		151,063
	$	275,281	$	265,256

Fair Value

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

	Fair Value at March 31, 2016
	Level 1		Level 2			Level 3		Total

Financial assets (liabilities):
Cash equivalents and current investments	$	42,101	$	−		$	−	$	42,101
Forward contracts		−		(1,954	)		−		(1,954	)
Life insurance contracts		−		−			27,415		27,415
Total	$	42,101	$	(1,954	)	$	27,415	$	67,562

	Fair Value at December 31, 2015
	Level 1		Level 2		Level 3		Total

Financial assets (liabilities):
Cash equivalents and current investments	$	47,121	$	−	$	−	$	47,121
Forward contracts		−		485		−		485
Life insurance contracts		−		−		27,292		27,292
Total	$	47,121	$	485	$	27,292	$	74,898

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

Beginning balance at January 1, 2016	$	27,292
Actual return on plan assets:
Relating to assets still held at the reporting date		(47	)
Purchases and issuances		262
Sales and settlements		(92	)
Transfers into Level 3		−
Ending balance at March 31, 2016	$	27,415