| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | ||||||||
| RECONCILIATION FROM GAAP OPERATING PROFIT TO EBITDA (UNAUDITED) | ||||||||
| (dollars in thousands) | ||||||||
| Three months ended | ||||||||
| September 30, | June 30, | September 30, | ||||||
| 2022 | 2022 | 2021 | ||||||
| GAAP OPERATING PROFIT | $ | 79,208 | $ | 70,674 | $ | 44,165 | ||
| Depreciation | 67,343 | 60,886 | 63,021 | |||||
| Stock based compensation | 6,526 | 5,543 | 5,452 | |||||
| Amortization of acquired intangible assets | 509 | 508 | 504 | |||||
| Restructuring costs | 4,033 | -- | -- | |||||
| EBITDA | $ | 157,619 | $ | 137,611 | $ | 113,142 | ||
| TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES | |||||||||||
| CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED) | |||||||||||
| (dollars in thousands) | |||||||||||
| Three months ended | |||||||||||
|
September 30,
|
June 30,
| September 30, | |||||||||
|
2022
|
2022
| 2021 | |||||||||
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | $ | 211,177 | $ | 203,484 | $ | 215,755 | |||||
| Net cash provided by operating activities | 122,402 | 138,097 | 106,974 | ||||||||
| Investments in property and equipment, net | (45,134 | ) | (49,377 | ) | (87,714 | ) | |||||
| Exercise of options | -- | -- | 46 | ||||||||
| Proceeds from an investment in a subsidiary | 5,469 | -- | -- | ||||||||
| Debt repaid, net | (28,164 | ) | (8,211 | ) | (29,211 | ) | |||||
| Effect of Japanese Yen exchange rate change over cash balance | (4,638 | ) | (7,682 | ) | (597 | ) | |||||
| Investments in short-term deposits, marketable securities and other assets, net | 129,257 | (65,134 | ) | 6,250 | |||||||
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 390,369 | $ | 211,177 | $ | 211,503 | |||||
