Elbit Systems Business Overview
Reconciliation of GAAP to Non-GAAP (Unaudited) Supplemental Financial Data
(US Dollars in millions, except for share and per share amount)
21
Year Ended December 31,
Three Months Ended
March 21,
2018
2019
2020
2021
2021
2022
GAAP net income attributable to Elbit Systems' shareholders
206.7
227.9
237.7
274.4
72.5
52.8
Adjustments:
Amortization of purchased intangible assets
26.5
36.1
39.4
47.0
9.1
10.9
Covid-19 related expenses and write-offs
56.6
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)
(24.9)
(3.7)
Revaluation of investment measured under fair value option
(8.3)
(20.8)
(17.3)
Impairment of investments and long-lived assets
17.6
3.7
7.9
Non-operating foreign exchange losses
3.4
24.6
33.4
10.6
(4.2)
(4.8)
Tax effect and other tax items, net
(8.1)
(8.2)
(0.7)
77.8
(1.2)
(0.9)
Non-GAAP net income attributable to Elbit Systems' shareholders
267.5
297.8
318.5
367.6
76.2
54.3
Percent of revenues
7.3%
6.6%
6.8%
7.0%
6.8%
4.0%
GAAP diluted net EPS
Adjustments, net
Non-GAAP diluted net EPS
2022 Elbit Systems | Elbit Systems Proprietary
4.83
5.20
5.38
6.20
1.64
1.19
1.42
1.59
1.82
2.10
0.08
0.03
6.25
6.79
7.20
8.30
1.72
1.22
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