UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Exhibit 99.1 TOWER SEMICONDUCTOR LIMITED AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 TOWER SEMICONDUCTOR LIMITED AND SUBSIDIARIES INDEX TO CONSOLIDATED FINANCIAL STATEMENTS | | Page | | --- | --- | | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | F-1 | | BALANCE SHEETS | F-3 | | STATEMENTS OF OPERATIONS | F-4 | | STATEMENTS OF COMPREHENSIVE INCOME | F-5 | | STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY | F-6 | | STATEMENTS OF CASH FLOWS | F-7 - F-8 | | NOTES TO FINA ...

Tower Semiconductor Ltd. (NASDAQ:TSEM) Q3 2021 Earnings Conference Call November 8, 2021 10:00 AM ET Company Participants Noit Levy - Senior Vice President of Investor Relations and Corporate Communications Russell Ellwanger - Chief Executive Officer Oren Shirazi - Chief Financial Officer Conference Call Participants Rajvindra Gill - Needham & Company Lisa Thompson - Zacks Investment Research Richard Shannon - Craig Hallum Mark Lipacis - Jefferies Operator Ladies and gentlemen, thank you for standing by. We ...

Tower Semiconductor Reports Record Revenues and Strong Margins Growth Third quarter 2021 with 25% total and 40% organic year over year revenue growth Exhibit 99.1 Gross profit for the third quarter of 2021 was $85 million, 60% higher than $53 million recorded in the third quarter of 2020 and 16% higher than $74 million recorded in the second quarter of 2021. Operating profit for the third quarter of 2021 was $44 million, more than double the $19 million recorded in the third quarter of 2020 and 30% higher t ...

Tower Semiconductor Ltd. (NASDAQ:TSEM) Q2 2021 Earnings Conference Call August 2, 2021 10:00 AM ET Company Participants Noit Levy - SVP of IR and Corporate Communications Russell Ellwanger - CEO Oren Shirazi - CFO Conference Call Participants Rajvindra Gill - Needham & Company Mark Lipacis - Jefferies Richard Shannon - Craig-Hallum Patrick Ho - Stifel Lisa Thompson - Zacks Investment Research David Duley - Steelhead Securities Richard Shannon - Craig-Hallum Operator Ladies and gentlemen, thank you for stand ...

Tower Semiconductor Ltd. (NASDAQ:TSEM) Q1 2021 Earnings Conference Call May 12, 2021 10:00 AM ET Company Participants Noit Levy - Senior Vice President of Investor Relations & Corporate Communications Russell Ellwanger - Chief Executive Officer Oren Shirazi - Chief Financial Officer Conference Call Participants Rajvindra Gill - Needham & Company Cody Acree - Loop Capital Richard Shannon - Craig-Hallum Mark Lipacis - Jefferies Operator Ladies and gentlemen, thank you for standing-by. Welcome to the Tower Sem ...

PART I [Key Information](index=6&type=section&id=ITEM%203.%20KEY%20INFORMATION) Outlines primary business, securities, and operational risks, including demand volatility, competition, and Israeli geopolitical instability [Risk Factors](index=6&type=section&id=D.%20RISK%20FACTORS) Identifies business, securities, and operational risks, including production bottlenecks, competition, debt, and cyber threats - **Over-demand** for foundry services could lead to production bottlenecks, an inability to fulfill customer orders, and the potential loss of customers and revenue[36](index=36&type=chunk) - The company's growth strategy relies on acquisitions and **capacity expansion**, which carries risks such as integration difficulties, competition for acquisition targets, and potential financing challenges[37](index=37&type=chunk)[40](index=40&type=chunk) - The **semiconductor foundry business** is highly competitive, with rivals potentially having greater manufacturing capacity, financial resources, and better cost structures[44](index=44&type=chunk)[45](index=45&type=chunk) - In **2020**, **one customer** (**NTCJ**, formerly **PSCS**) accounted for **25%** of **revenues**, and **five other customers** each generated between **4%** and **11%**, indicating significant **customer concentration risk**[52](index=52&type=chunk) - The **COVID-19 pandemic** presents risks such as raw material shortages, reduced employee attendance, and potential downturns in customer orders[54](index=54&type=chunk) - As of **December 31, 2020**, the company had approximately **$392 million** in consolidated **long-term debt**, which could limit its ability to fund strategic growth, increase vulnerability to adverse economic conditions, and place it at a competitive disadvantage[65](index=65&type=chunk)[67](index=67&type=chunk) - A **cybersecurity attack** in **September 2020** caused a temporary, proactive halt in operations at some manufacturing facilities, highlighting the risk of security breaches to operations and reputation[97](index=97&type=chunk) - Operations in **Israel**, which include **two manufacturing facilities** (**Fab 1** and **Fab 2**), are subject to risks from political, economic, and military instability in the region[104](index=104&type=chunk)[105](index=105&type=chunk) [Information on the Company](index=22&type=section&id=ITEM%204.%20INFORMATION%20ON%20THE%20COMPANY) Provides an overview of Tower Semiconductor's history, operations as a specialty foundry, structure, and global assets [History and Development of the Company](index=22&type=section&id=A.%20HISTORY%20AND%20DEVELOPMENT%20OF%20THE%20COMPANY) Details Tower Semiconductor's growth since **1993** through strategic acquisitions, expanding its global fab footprint - **Tower** was founded in **1993** by acquiring National Semiconductor's **150-mm** wafer **fab** (**Fab 1**) in Migdal Haemek, **Israel**[116](index=116&type=chunk) - In **2008**, the company merged with Jazz Technologies, acquiring **Fab 3** in Newport Beach, California, which specializes in **analog and mixed-signal semiconductor devices**[118](index=118&type=chunk) - In **2014**, **Tower** acquired a **51% equity stake** in **TPSCo** from Panasonic, gaining **three manufacturing facilities** in **Japan** and expanding its capacity to **300mm** wafers[119](index=119&type=chunk) - In **2016**, the company acquired a fabrication facility in San Antonio, Texas (**Fab 9**) from Maxim, further expanding its US manufacturing footprint[120](index=120&type=chunk) [Business Overview](index=23&type=section&id=B.%20BUSINESS%20OVERVIEW) Operates as a specialty foundry, focusing on advanced technologies and expanding through acquisitions amid intense competition - The company specializes in **manufacturing semiconductors** using technologies like **CMOS image sensors**, **RFCMOS**, **BiCMOS**, **SiGe**, **silicon photonics**, and **power management**[114](index=114&type=chunk) - Key focused process technologies include **RF CMOS**, **SiGe**, **CMOS image sensors** (**CIS**), advanced analog **CMOS**, **RFID**, **BiCMOS**, high voltage **CMOS**, and **SOI platforms**[142](index=142&type=chunk)[143](index=143&type=chunk) - The company competes with **specialty foundries** like **GlobalFoundries** and **Vanguard**, as well as large **pure-play foundries** like **TSMC**, **UMC**, and **SMIC**, and **IDMs** with foundry operations[177](index=177&type=chunk) Revenue by Geography (2018-2020) | Region | 2020 (%) | 2019 (%) | 2018 (%) | | :--- | :--- | :--- | :--- | | **United States** | **44%** | **52%** | **52%** | | **Japan** | **28%** | **29%** | **34%** | | **Asia, excluding Japan** | **22%** | **15%** | **10%** | | **Europe** | **6%** | **4%** | **4%** | | **Total** | **100%** | **100%** | **100%** | - In **2020**, **six significant customers** each contributed between **4%** and **25%** of **revenues**. This compares to **six customers** contributing **5%** to **27%** in **2019**, and **four customers** contributing **7%** to **33%** in **2018**[172](index=172&type=chunk) [Organizational Structure](index=36&type=section&id=C.%20ORGANIZATIONAL%20STRUCTURE) Details the company's structure, including its Israeli parent, wholly-owned US subsidiaries, and **51%** stake in **TPSCo Japan** - **Tower Semiconductor Ltd.** is the **parent company**, incorporated in **Israel**, directly operating **Fab 1** and **Fab 2**[205](index=205&type=chunk)[206](index=206&type=chunk) - US operations (**Fab 3** and **Fab 9**) are managed through **wholly-owned US subsidiaries**, including **Tower US Holdings Inc.** and its subsidiaries[206](index=206&type=chunk)[208](index=208&type=chunk) - The company holds a **51% equity stake** in the Japanese entity **TPSCo**, which operates **three fabs**. The remaining **49%** is held by **NTCJ**[207](index=207&type=chunk) [Property, Plants and Equipment](index=36&type=section&id=D.%20PROPERTY,%20PLANTS%20AND%20EQUIPMENT) Operates **seven global fabs** supporting diverse process geometries, with increased **2020 capex** for **capacity expansion** - The company manufactures semiconductor wafers at **seven facilities**: **Fab 1** & **2** (**Israel**), **Fab 3** (California, US), **Fab 9** (Texas, US), and **three TPSCo fabs** (**Japan**)[209](index=209&type=chunk) Net Capital Expenditures | Year | Net Capex ($M) | | :--- | :--- | | **2020** | **257** | | **2019** | **172** | - The lease for **Fab 3** in Newport Beach, California has been extended through **March 2027**, though there is an ongoing dispute with the landlord regarding **noise abatement actions**[218](index=218&type=chunk) - All **manufacturing facilities** are certified with key international standards, including **ISO 9001** (**quality**), **IATF16949** (**automotive quality**), **ISO 14001** (**environmental**), and **OHSAS 45001** (**health and safety**)[222](index=222&type=chunk)[223](index=223&type=chunk)[224](index=224&type=chunk) [Operating and Financial Review and Prospects](index=39&type=section&id=ITEM%205.%20OPERATING%20AND%20FINANCIAL%20REVIEW%20AND%20PROSPECTS) Analyzes **2020 financial performance**, **liquidity**, **R&D**, and **industry trends**, noting revenue growth and increased **capex** [Operating Results](index=39&type=section&id=A.%20OPERATING%20RESULTS) Reports **2020 revenue growth** to **$1.27 billion**, stable operations despite challenges, and a slight net profit decrease Financial Performance Comparison (2020 vs. 2019) | Metric | 2020 ($M) | 2019 ($M) | Change | | :--- | :--- | :--- | :--- | | **Revenues** | **1,265.7** | **1,234.0** | +**$31.7M** | | **Gross Profit** | **233.3** | **229.7** | +**$3.6M** | | **Operating Profit** | **91.0** | **86.7** | +**$4.3M** | | **Net Profit Attributable to Company** | **82.3** | **90.0** | -**$7.7M** | - The **COVID-19 pandemic** did not materially adversely affect **2020** results; a significant revenue increase began in **H2 2020**, driven by demand for **RF products** for **data centers** and **cloud computing**[232](index=232&type=chunk)[234](index=234&type=chunk) - A **cyber event** in **September 2020** caused a temporary, proactive halt in some **manufacturing facilities** but had no material impact on the business due to quick restoration and insurance coverage[238](index=238&type=chunk) - **Capital expenditures** increased by nearly **50%** to **$256.5 million** in **2020** from **$172.2 million** in **2019** to address growing customer demand[237](index=237&type=chunk) Revenue by Geography (2020 vs. 2019) | Region | 2020 (%) | 2019 (%) | | :--- | :--- | | **United States** | **44%** | **52%** | | **Japan** | **28%** | **29%** | | **Asia (ex-Japan)** | **22%** | **15%** | | **Europe** | **6%** | **4%** | [Liquidity and Capital Resources](index=44&type=section&id=B.%20LIQUIDITY%20AND%20CAPITAL%20RESOURCES) Details **2020 liquidity**, cash flow, and debt position, noting sufficient resources for operations but potential need for acquisitions Cash and Debt Position (as of Dec 31, 2020) | Item | Amount ($M) | | :--- | :--- | | **Cash and cash equivalents** | **211.7** | | **Short-term deposits** | **310.2** | | **Marketable securities** | **189.0** | | **Total Debt (Current + Long-term)** | **390.3** | - Major cash activities in **2020** included **$276.6 million** generated from operations, **$313.7 million** invested in property and equipment, and **$63.7 million** used for debt repayment[272](index=272&type=chunk) - The company has a shelf registration statement in **Israel**, providing a platform for future fundraising to support strategic opportunities like acquisitions or **capacity expansion**[275](index=275&type=chunk) - Key **long-term debt** includes approximately **$104 million** in **Series G debentures**, a **$107 million JP Loan** for **TPSCo**, and significant capital lease obligations[278](index=278&type=chunk)[279](index=279&type=chunk) [Research and Development, Patents and Licenses](index=46&type=section&id=C.%20RESEARCH%20AND%20DEVELOPMENT,%20PATENTS%20AND%20LICENSES) Focuses on **R&D activities** for process improvement, with expenses steadily increasing to **$78.3 million** in **2020** Net Research and Development Expenses | Year | R&D Expense ($M) | | :--- | :--- | | **2020** | **78.3** | | **2019** | **75.6** | | **2018** | **73.1** | [Trend Information](index=46&type=section&id=D.%20TREND%20INFORMATION) Addresses **semiconductor industry trends**, focusing on **specialty analog technologies** and **capacity expansion** for growth - The company's strategy focuses on **differentiated specialty analog technologies** to counter pricing pressure on larger geometry products[286](index=286&type=chunk) - **Tower** targets **high-growth end markets** including **IoT**, **mobile applications**, **wireless communications**, **consumer electronics**, **automotive**, and **industrial markets**[287](index=287&type=chunk) - The company is accelerating plans to expand **manufacturing capacity**, including its **300mm fab**, and is actively evaluating **acquisition opportunities** to secure additional capacity and technology[289](index=289&type=chunk)[291](index=291&type=chunk) [Directors, Senior Management and Employees](index=48&type=section&id=ITEM%206.%20DIRECTORS,%20SENIOR%20MANAGEMENT%20AND%20EMPLOYEES) Details leadership, compensation, board structure, and global workforce, including **unionized** employees and compliance [Directors and Senior Management](index=48&type=section&id=A.%20DIRECTORS%20AND%20SENIOR%20MANAGEMENT) Outlines the executive team and board of directors, led by **CEO Russell C Ellwanger** and **Chairman Amir Elstein** - **Russell C. Ellwanger** has served as **Chief Executive Officer** since **May 2005**[294](index=294&type=chunk) - **Amir Elstein** has served as the **Chairman of the Board of Directors** since **January 2009**[308](index=308&type=chunk) [Compensation](index=53&type=section&id=B.%20COMPENSATION) Details the **performance-based compensation policy**, including **2020 aggregate pay** and **shareholding guidelines** - An amended and restated **compensation policy** for executive officers and directors was approved by shareholders on **September 17, 2020**[320](index=320&type=chunk) 2020 Aggregate Compensation for Directors & Senior Management | Compensation Type | Amount ($M) | | :--- | :--- | | **Salaries, Fees, Bonuses** | **7.3** | | **Social & Other Benefits** | **2.0** | - In **September 2020**, shareholders approved an equity grant to the **CEO** valued at **$5.1 million**, comprising **40% time-based RSUs** and **60% performance-based PSUs**, vesting over three years[335](index=335&type=chunk)[341](index=341&type=chunk) - The **compensation policy** includes **minimum shareholding guidelines** requiring the **CEO** to own shares valued at **3x** his annual **base salary** by **May 2024**, and other executives/directors to own **0.5x** their annual fee/salary by **July 2025**[343](index=343&type=chunk) [Board Practices](index=57&type=section&id=C.%20BOARD%20PRACTICES) Describes the **nine-member Board of Directors**, its committees, and compliance with **Nasdaq independence rules** - The **Board of Directors** is currently comprised of **nine directors**[345](index=345&type=chunk) - The company has elected to exempt itself from the Israeli requirement to appoint **external directors** and instead complies with **Nasdaq listing rules** for **independent directors** and committee composition[348](index=348&type=chunk)[349](index=349&type=chunk) - The **Audit Committee** consists of **four members**, all of whom are determined to be **independent** and are classified as **audit committee financial experts** under **SEC rules**[352](index=352&type=chunk)[355](index=355&type=chunk) - The **Compensation Committee** is comprised of **three independent directors**[357](index=357&type=chunk)[359](index=359&type=chunk) [Employees](index=61&type=section&id=D.%20EMPLOYEES) Reports **5,511 global employees** as of **2020**, with a majority in manufacturing and a portion **unionized** Employee Headcount by Year | Year | Total Employees | | :--- | :--- | | **2020** | **5,511** | | **2019** | **5,279** | | **2018** | **5,586** | Employees by Function (as of Dec 31, 2020) | Function | Number of Employees | | :--- | :--- | | **Manufacturing and operations** | **3,858** | | **Process/product engineering, R&D, design** | **994** | | **Manufacturing support** | **386** | | **Sales, marketing, finance & admin** | **273** | | **Total** | **5,511** | - As of **December 31, 2020**, the company had **2,561** employees in **Japan**, **1,518** in **Israel**, and **1,416** in the **United States**[367](index=367&type=chunk) - A portion of employees in the Newport Beach, CA fab and most employees in the **Japan fabs** are represented by unions and covered by **collective bargaining agreements**[370](index=370&type=chunk)[372](index=372&type=chunk) [Major Shareholders and Related Party Transactions](index=63&type=section&id=ITEM%207.%20MAJOR%20SHAREHOLDERS%20AND%20RELATED%20PARTY%20TRANSACTIONS) Discloses major institutional shareholders as of **March 2021** and confirms no material related party transactions Major Shareholders (as of March 31, 2021) | Shareholder | Ownership (%) | | :--- | :--- | | **Wellington Management Group LLP** | **8.11%** | | **Senvest Management, LLC** | **7.04%** | | **Phoenix Holdings Ltd.** | **6.07%** | | **Harel Insurance Investments & Financial Services Ltd.** | **5.48%** | - As of **March 31, 2021**, no individual director or senior manager beneficially owned **1%** or more of the company's outstanding **ordinary shares**[373](index=373&type=chunk) - The company has not been a party to any **material related party transactions** involving directors, executive officers, or major shareholders[383](index=383&type=chunk) [Financial Information](index=64&type=section&id=ITEM%208.%20FINANCIAL%20INFORMATION) References financial statements, notes a **Fab 3 lease dispute**, and states no anticipated dividends due to growth focus - The company is in a **dispute** with the landlord of its **Fab 3** facility in Newport Beach, CA, regarding **noise abatement actions**, with the landlord claiming a right to terminate the lease[386](index=386&type=chunk) - The company does not anticipate paying **dividends** in the foreseeable future, intending to **retain earnings** for growth. **Dividend** payments are also restricted by **covenants** in its **Series G Debentures**[387](index=387&type=chunk) [Additional Information](index=65&type=section&id=ITEM%2010.%20ADDITIONAL%20INFORMATION) Covers corporate and legal information, including articles of association, material contracts, exchange controls, and taxation [Material Contracts](index=66&type=section&id=C.%20MATERIAL%20CONTRACTS) Highlights the key **manufacturing** and **lease agreements** with **NTCJ** for the **three TPSCo fabs** in **Japan** - In **March 2019**, the **manufacturing agreement** with **PSCS** (now **NTCJ**) for production at the **three TPSCo fabs** in **Japan** was extended for an additional three-year period with a revised pricing structure[401](index=401&type=chunk) - In **September 2020**, **Nuvoton Technology Corp.** acquired **PSCS** from Panasonic, and the new entity, **NTCJ**, assumed the existing **manufacturing** and **lease agreements** with **Tower** and **TPSCo**[401](index=401&type=chunk) [Taxation](index=67&type=section&id=E.%20TAXATION) Details Israeli and US tax implications for the company and investors, including '**Preferred Enterprise**' status - The standard Israeli corporate tax rate is **23%**, but **Tower's Israeli facilities** qualify as a "**Preferred Enterprise**," entitling them to a reduced tax rate of **7.5%** on preferred income[404](index=404&type=chunk)[425](index=425&type=chunk)[431](index=431&type=chunk) - Non-Israeli residents are generally exempt from Israeli capital gains tax on the sale of shares in a publicly traded Israeli company, provided the gains are not from a permanent establishment in **Israel** and other conditions are met[410](index=410&type=chunk) - **Dividends** distributed to non-resident individuals are subject to a **25%** withholding tax (or **30%** for a "**substantial shareholder**"), which may be reduced by an applicable tax treaty. **Dividends** from a **Preferred Enterprise** are generally taxed at **20%**[416](index=416&type=chunk) - For **U.S. Holders**, **dividends** paid by the company may qualify for reduced tax rates as "**qualified dividend income**," as the company is eligible for benefits under the **U.S.-Israel Tax Treaty** and its shares are traded on an established U.S. market[447](index=447&type=chunk)[451](index=451&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=77&type=section&id=ITEM%2011.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) Discusses **market risks** from **interest rate** and **foreign currency fluctuations**, and **hedging strategies** employed - The company's major debt instruments, including **Series G Debentures** and the **JP Loan**, bear **fixed interest rates**, limiting cash flow exposure to **interest rate fluctuations**[467](index=467&type=chunk) - The company is exposed to **foreign exchange risk** from its operations in **Israel** (**NIS**) and **Japan** (**JPY**). Appreciation of the **NIS** increases Israeli labor and purchase costs in **USD** terms[469](index=469&type=chunk)[472](index=472&type=chunk) - To mitigate **currency risk**, the company uses **foreign currency cylinder transactions** for a portion of its **NIS** and **JPY** exposure and has fully hedged its **NIS-denominated Series G Debentures** with a **cross-currency swap**[472](index=472&type=chunk)[473](index=473&type=chunk) - In **2020**, the **USD** depreciated **7.0%** against the **NIS** and **5.0%** against the **JPY**[471](index=471&type=chunk)[474](index=474&type=chunk) PART II [Controls and Procedures](index=79&type=section&id=ITEM%2015.%20CONTROLS%20AND%20PROCEDURES) Management and auditors concluded **disclosure controls** and internal financial reporting controls were **effective** in **2020** - Management concluded that the company's **disclosure controls and procedures** were **effective** as of **December 31, 2020**[483](index=483&type=chunk) - Based on an evaluation using the **COSO 2013 framework**, management concluded that the company's **internal control over financial reporting** was **effective** as of **December 31, 2020**[484](index=484&type=chunk) - The independent registered public accounting firm, **Brightman Almagor Zohar & Co. (Deloitte)**, audited and issued an **unqualified opinion** on the **effectiveness** of the **internal control over financial reporting** as of **December 31, 2020**[486](index=486&type=chunk) [Corporate Governance](index=81&type=section&id=ITEM%2016G.%20CORPORATE%20GOVERNANCE) Outlines **corporate governance practices** as a **foreign private issuer**, noting Israeli law divergences from **Nasdaq rules** - As a **foreign private issuer**, the company follows certain **home country (Israeli) corporate governance practices** in lieu of specific **Nasdaq Listing Rules**[496](index=496&type=chunk) - Exemptions taken include practices related to the distribution of annual reports, meetings of **independent directors**, officer compensation approval, and quorum requirements for shareholder meetings[496](index=496&type=chunk) - The company follows **Israeli law** for **shareholder approval** of **corporate actions**, which may not align with all requirements of **Nasdaq Listing Rule 5635**, particularly regarding **equity compensation plans**[497](index=497&type=chunk) PART III [Financial Statements](index=83&type=section&id=ITEM%2018.%20FINANCIAL%20STATEMENTS) Presents audited consolidated financial statements for **2020**, with an **unqualified auditor's opinion** and key notes Consolidated Balance Sheet Highlights (as of Dec 31, 2020) | Metric | Amount ($M) | | :--- | :--- | | **Total Assets** | **2,094.1** | | **Total Current Assets** | **1,102.9** | | **Property and Equipment, Net** | **839.2** | | **Total Liabilities** | **639.2** | | **Total Current Liabilities** | **272.9** | | **Long-Term Debt** | **283.8** | | **Total Shareholders' Equity** | **1,454.9** | Consolidated Statement of Operations (Year Ended Dec 31, 2020) | Metric | Amount ($M) | | :--- | :--- | | **Revenues** | **1,265.7** | | **Gross Profit** | **233.3** | | **Operating Profit** | **91.0** | | **Net Profit** | **83.3** | | **Net Profit Attributable to Company** | **82.3** | | **Diluted EPS** | **$0.76** | Consolidated Statement of Cash Flows (Year Ended Dec 31, 2020) | Metric | Amount ($M) | | :--- | :--- | | **Net Cash from Operating Activities** | **276.6** | | **Net Cash used in Investing Activities** | **(363.6)** | | **Net Cash used in Financing Activities** | **(61.2)** | | **Decrease in Cash & Cash Equivalents** | **(143.9)** | - The independent auditor, **Brightman Almagor Zohar & Co. (Deloitte)**, identified the determination of the **income tax provision** in a multinational environment as a **critical audit matter** due to the **significant judgments and estimates** involved[526](index=526&type=chunk)[527](index=527&type=chunk)

Tower Semiconductor Ltd. (NASDAQ:TSEM) Q4 2020 Earnings Conference Call February 17, 2021 10:00 AM ET Company Participants Noit Levy - Senior Vice President of Investor Relations & Corporate Communications Russell Ellwanger - Chief Executive Officer Oren Shirazi - Chief Financial Officer Conference Call Participants Rajvindra Gill - Needham & Company Achal Sultania - Credit Suisse Cody Acree - Loop Capital Natalia Winkler - Jefferies Richard Shannon - Craig-Hallum David Duley - Steelhead Securities Lisa Tho ...

Tower Semiconductor Ltd (NASDAQ:TSEM) Q3 2020 Earnings Conference Call November 12, 2020 10:00 AM ET Company Participants Noit Levy - SVP, IR & Corporate Communications Russell Ellwanger - CEO & Director Oren Shirazi - CFO & SVP, Finance Conference Call Participants Rajvindra Gill - Needham & Company Cody Acree - Loop Capital Markets Mark Lipacis - Jefferies Richard Shannon - Craig-Hallum Lisa Thompson - Zacks Investment Research David Duley - Steelhead Securities Operator Ladies and gentlemen, thank you fo ...

Tower Semiconductor Ltd (NASDAQ:TSEM) Q2 2020 Earnings Conference Call July 29, 2020 10:00 AM ET Company Participants Noit Levy - Senior Vice President, Investor Relations and Corporate Communications Russell Ellwanger - Chief Executive Officer Oren Shirazi - Senior Vice President and Chief Financial Officer Conference Call Participants Cody Acree - Loop Capital Markets Rajvindra Gill - Needham & Company Mark Lipacis - Jefferies Richard Shannon - Craig-Hallum Capital Group Krish Sankar - Cowen and Company L ...