Elbit Systems Ltd. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Elbit Systems Ltd. has submitted its 2023 annual report on Form 20-F, detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ELBIT SYSTEMS LTD (ESLT) filed a Foreign Annual Report (20-F) with the SEC on March 28, 2024. Elbit Systems Ltd. filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Haifa, Israel. Elbit Systems Ltd. is classified under SIC code 3728 for Aircraft Part & Auxiliary Equipment, NEC. The filing includes financial data for the fiscal years 2020 through 2023.

Why It Matters

For investors and stakeholders tracking ELBIT SYSTEMS LTD, this filing contains several important signals. This filing provides a comprehensive overview of Elbit Systems' financial health and strategic positioning for investors and analysts. As a significant player in the aerospace and defense industry, the 20-F report offers insights into the company's operational segments and market presence.

Risk Assessment

Risk Level: medium — ELBIT SYSTEMS LTD shows moderate risk based on this filing. The company operates in the defense sector, which can be subject to geopolitical risks and regulatory changes, as indicated by its classification and location in Israel.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 20-F to assess Elbit Systems' performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of Report)
• 2024-03-28 — Filing Date (Date Filed)
• 3728 — SIC Code (Aircraft Part & Auxiliary Equipment, NEC)
• 000-28998 — SEC File Number (SEC Filing Information)

Key Players & Entities

• ELBIT SYSTEMS LTD (company) — Filer
• 20-F (filing) — Form Type
• 2024-03-28 (date) — Filing Date
• 2023-12-31 (date) — Fiscal Year End
• Haifa, Israel (location) — Business Address City, State
• 0001027664 (company) — Central Index Key
• 3728 (industry) — Standard Industrial Classification
• USD (currency) — Currency

FAQ

Risk Factors

• Regulatory Environment [medium — regulatory]: The company operates under various regulatory frameworks in Israel and internationally, which could impact its operations and profitability.
• Market Conditions [medium — market]: Fluctuations in defense spending, geopolitical events, and competition can affect demand for Elbit Systems' products and services.
• Operational Risks [medium — operational]: Supply chain disruptions, manufacturing challenges, and the integration of acquired businesses pose operational risks.

Key Dates

• 2024-03-28: Filing of 2023 Annual Report (Form 20-F) — Provides the latest financial and operational data for Elbit Systems Ltd.

Filing Documents

• eslt-20231231.htm (20-F) — 3513KB
• exhibit21-2023xdescription.htm (EX-2.1) — 35KB
• exhibit421-2018equityplanf.htm (EX-4.2 1) — 130KB
• exhibit8-2023.htm (EX-8) — 2KB
• exhibit121-2023.htm (EX-12.1) — 10KB
• exhibit122-2023.htm (EX-12.2) — 10KB
• exhibit131-2023.htm (EX-13.1) — 6KB
• exhibit132-2023.htm (EX-13.2) — 5KB
• exhibit15-2023.htm (EX-15) — 4KB
• exhibit97-clawbackpolicyap.htm (EX-97) — 45KB
• eslt-20231231_g1.jpg (GRAPHIC) — 231KB
• eslt-20231231_g2.jpg (GRAPHIC) — 17KB
• imagea.jpg (GRAPHIC) — 46KB
• 0001628280-24-013449.txt (&nbsp;) — 18007KB
• eslt-20231231.xsd (EX-101.SCH) — 133KB
• eslt-20231231_cal.xml (EX-101.CAL) — 167KB
• eslt-20231231_def.xml (EX-101.DEF) — 568KB
• eslt-20231231_lab.xml (EX-101.LAB) — 1178KB
• eslt-20231231_pre.xml (EX-101.PRE) — 900KB
• eslt-20231231_htm.xml (XML) — 2954KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents Item Description Page General Disclosure Standards 1 Cautionary Statement with Respect to Forward-Looking Statements 1 Item 1. Identity of Directors, Senior Management and Advisers 2 Item 2. Offer Statistics and Expected Timetable 2 Item 3. Key Information 3 Item 4. Information on the Company 17 Item 4A. Unresolved Staff Comments 36 Item 5. Operating and Financial Review and Prospects 37 Item 6. Directors, Senior Management and Employees 60 Item 7. Major Shareholders and Related Party Transactions 79 Item 8. Financial Information. 80 Item 9. The Offer and Listing 81 Item 10. Additional Information 81 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 97 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 99 Item 13. Defaults, Dividend Arrearages and Delinquencies 99 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds. 99 Item 15.

Controls and Procedures

Controls and Procedures 100 Item 16A. Audit Committee Financial Expert 101 Item 16B. Code of Ethics 101 Item 16C. Principal Accountant Fees and Services 101 Item 16D. Exemptions from the Listing Standards for Audit Committees 102 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 102 Item 16F. Change in Registrant's Certifying Accountant 102 Item 16G. Corporate Governance 102 Item 16H. Mine Safety Disclosure 103 Item 17.

Financial Statements

Financial Statements 106 Item 18.

Financial Statements

Financial Statements 106 Item 19. Exhibits 107 PART I General Disclosure Standards The consolidated financial statements of Elbit Systems Ltd. (Elbit Systems) included in this annual report on Form 20-F are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). Unless otherwise indicated, all financial information contained in this annual report is presented in U.S. dollars. References in this annual report to the "Company", "we", "our", "us" and terms of similar meaning refer to Elbit Systems and our subsidiaries unless the context requires otherwise. The name "ELBIT SYSTEMS", and our logo, brand, product, service and process names appearing in this document, are the trademarks of the Company or our affiliated companies. All other brand, product, service and process names appearing in this document are the trademarks of their respective holders and appear for informational purposes only. Reference to or use of any third-party mark, product, service or process name herein does not imply any recommendation, approval, affiliation or sponsorship of that or any other mark, product, service or process name. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of the Company or any of our affiliated companies. Cautionary Statement with Respect to Forward-Looking Statements This annual report on Form 20-F contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), and the Israeli Securities Law, 1968, as amended (the Israeli Securities Law). These statements relate to our current plans, estimates, strategies, goals, beliefs, intents, expectations, assumptions and projections about future events and as such do not relate to hi

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers. Information not required in annual report on Form 20-F.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable. Information not required in annual report on Form 20-F. 2

Key Information

Item 3. Key Information. 3A. [Reserved] 3B. Capitalization and Indebtedness Information not required in annual report on Form 20-F. 3C. Reasons for the Offer and Use of Proceeds Information not required in annual report on Form 20-F.

Risk Factors

Risk Factors We attempt to identify, manage and mitigate risks to our business. However, some of these risks are not within our control, and risks and uncertainty cannot be fully eliminated or predicted. Prior to investing in our ordinary shares you should carefully consider the following risk factors as well as other information contained in this annual report. The risk factors presented below may not necessarily be in order of importance or probability of occurrence. Risks Related to Our Operations A cyber or security attack or other similar incident resulting in a breach, disruption or failure in our or our supply chain's digital environment could adversely affect us. Our operations depend heavily on the continued and secure functioning of our varied digital environment software and hardware that stores, processes and transmits data within the Company and from and to us and our business partners. This digital environment is subject to breach, damage, destruction, disruption, malfunction or failure from, among other things, cyber-attacks and other unauthorized intrusions, power losses, telecommunications failures, earthquakes, fires and other natural disasters. We are continuously subjected to attempted cyber-attacks, ranging from standard phishing mails to sophisticated campaigns. Our computer and communications systems, databases and users face ongoing threats of malicious software (malware), social engineering, distributed denial of service (DDoS), malicious code, zero-day vulnerabilities and other security threats and system disruptions carried out by different threat actors. For example, in June 2022, our monitoring and protection systems detected a cyber-incident at our U.S. subsidiary involving unauthorized access by a ransomware group to our subsidiary's network that resulted in disclosure of certain personal data and a minimal amount of non-critical business data. The incident was contained through the implementation of various measures, including

View Full Filing

View this 20-F filing on SEC EDGAR