Elbit Systems Business Overview
Appendix
Non-GAAP Financial Data
Non-GAAP financial data is presented to enable investors to have additional information on our business performance as well as
a further basis for periodical comparisons and trends relating to our financial results. We believe such data provides useful
information to investors by facilitating more meaningful comparisons of our financial results over time. Such non-GAAP
information is used by our management to make strategic decisions, forecast future results and evaluate our current
performance. However, investors are cautioned that, unlike financial measures prepared in accordance with GAAP, non-GAAP
measures may not be comparable with the calculation of similar measures for other companies.
The non-GAAP financial data below includes reconciliation adjustments regarding non-GAAP gross profit, operating income, net
income and diluted EPS. In arriving at non-GAAP presentations, companies generally factor out items such as those that have a
non-recurring impact on the income statements, various non-cash items, including significant exchange rate differences,
significant effects of retroactive tax legislation, changes in accounting guidance and other items and financial transactions not
considered to be part of regular ongoing business, which, in management's judgment, are items that are considered to be
outside the review of core operating results. In our non-GAAP presentation, we made certain adjustments as indicated in the
table below.
These non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that non-GAAP
measures have limitations in that they do not reflect all of the amounts associated with our results of operations, as determined
in accordance with GAAP, and that these measures should only be used to evaluate our results of operations in conjunction with
the corresponding GAAP measures. Investors should consider non-GAAP financial measures in addition to, and not as
replacements for or superior to, measures of financial performance prepared in accordance with GAAP.
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