Elbit Systems Financial Performance Review
Reconciliation of GAAP to Non-GAAP (Unaudited) Supplemental Financial Data:
(US Dollars in millions, except for share and per share amount)
Six Months Ended June
2017
Year ended December 31,
2018
30.
2019
2020
2020
2021
GAAP net income attributable to Elbit Systems' shareholders
239.1
206.7
227.9
237.7
152.9
174.3
Adjustments:
Amortization of purchased intangible assets
28.6
26.5
36.1
39.4
20.6
21.6
Covid-19 related expenses and write-offs
56.6
Expenses related to acquisitions
66.8
55.0
Gain from changes in holdings
(45.4)
(1.2)
Capital gain
(31.8)
(35.0)
(35.0)
(24.9)
Revaluation of investment measured under fair value option
(8.3)
(20.8)
(18.6)
(1.5)
Impairment of investments and long-lived assets
17.6
3.7
7.9
4.4
Non-operating foreign exchange losses
3.4
24.6
33.4
6.8
Tax effect and other tax items, net
6.2
(8.1)
(8.2)
(0.7)
9.7
0.2
Non-GAAP net income attributable to Elbit Systems' shareholders
273.9
267.5
297.8
318.5
140.8
169.7
Percent of revenues
8.1%
7.3%
6.6%
6.8%
6.5%
7.0%
GAAP diluted net EPS
Adjustments, net
Non-GAAP diluted net EPS
20
2021 Elbit Systems | Elbit Systems Proprietary
5.59
4.83
5.20
5.38
3.46
3.94
0.82
1.42
1.59
1.82
(0.28)
(0.11)
6.41
6.25
6.79
7.20
3.18
3.83
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