| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||
| RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | |||||||||
| (dollars in thousands) | |||||||||
|
Three months ended
| |||||||||
| December 31, | September 30, | December 31, | |||||||
| 2020 | 2020 | 2019 | |||||||
| EBITDA CALCULATION: | |||||||||
| GAAP OPERATING PROFIT | $ | 33,379 | $ | 19,089 | $ | 18,898 | |||
| Depreciation of fixed assets | 56,956 | 56,131 | 52,222 | ||||||
| Stock based compensation | 5,190 | 3,460 | 3,066 | ||||||
| Amortization of acquired intangible assets | 365 | 490 | 453 | ||||||
| EBITDA | $ | 95,890 | $ | 79,170 | $ | 74,639 | |||
| Year ended | |||||||||
| December 31, | December 31, | ||||||||
| 2020 | 2019 | ||||||||
| GAAP OPERATING PROFIT | $ | 91,033 | $ | 86,716 | |||||
| Depreciation of fixed assets | 219,746 | 194,584 | |||||||
| Stock based compensation | 16,988 | 14,548 | |||||||
| Amortization of acquired intangible assets | 1,658 | 3,080 | |||||||
| EBITDA | $ | 329,425 | $ | 298,928 | |||||
Tower Semiconductor Reports Double Digit Revenue Growth for the Fourth Quarter of 2020
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