AEROJET ROCKETDYNE HOLDINGS, INC. (AJRD) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Nov-30-15	Nov-30-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K/A	10-K/A
Revenues:
Aerospace and Defense	2,179.3	2,069.4	1,974.0	1,888.1	1,870.8		1,660.0
Real Estate					6.4		48.3
Other	8.7	3.3	7.5	7.8
Total revenues	2,188.0	2,072.7	1,981.5	1,895.9	1,877.2	1,761.3	1,708.3	1,602.2
Revenue growth [+]	5.6%	4.6%	4.5%	1.0%	6.6%		6.6%	16.3%
Aerospace and Defense	5.3%	4.8%	4.5%	0.9%
Cost of goods sold	1,800.1	1,701.3	1,613.6	1,549.4	1,562.2	1,477.4	1,459.5	1,406.2
Gross profit	387.9	371.4	367.9	346.5	315.0	283.9	248.8	196.0
Gross margin	17.7%	17.9%	18.6%	18.3%	16.8%	16.1%	14.6%	12.2%
Selling, general and administrative	46.0	56.1	53.6	43.8	47.0	34.7	49.0	38.2
Research and development							32.1
Other operating expenses	23.5	9.4	1.6	-40.4	8.9	-14.7	-37.3	74.5
EBITDA [+]	318.4	305.9	312.7	343.1	259.1	263.9	205.0	83.3
EBITDA growth	4.1%	-2.2%	-8.9%	32.4%	-1.8%		146.1%	48.0%
EBITDA margin	14.6%	14.8%	15.8%	18.1%	13.8%	15.0%	12.0%	5.2%
Depreciation	51.5	51.9	60.9	58.6	58.9	51.6	51.7	63.7
EBITA	266.9	254.0	251.8	284.5	200.2	212.3	153.3	19.6
EBITA margin	12.2%	12.3%	12.7%	15.0%	10.7%	12.1%	9.0%	1.2%
Amortization of intangibles	9.9	13.4	13.6	13.7	13.7	13.3	13.4
EBIT [+]	257.0	240.6	238.2	270.8	186.5	199.0	139.9	19.6
EBIT growth	6.8%	1.0%	-12.0%	45.2%	-6.3%		613.8%	53.1%
EBIT margin	11.7%	11.6%	12.0%	14.3%	9.9%	11.3%	8.2%	1.2%
Non-recurring items [+]				0.2	-1.0	34.5	103.8
Unusual expense				0.2	-1.0	34.5	51.9
Legal settlement							50.0
(Gain) loss on debt repurchase							1.9
Interest expense, net [+]	17.6	23.8	20.2	24.4	27.4	31.9	50.1	52.6
Interest expense	20.1	30.1	35.7	34.4	30.9	32.5	50.4	52.7
Interest income	2.5	6.3	15.5	10.0	3.5	0.6	0.3	0.1
Other income (expense), net [+]	-44.4	-36.6	-26.1	-57.6	-73.2	-103.4	-1.9
Gain (loss) on debt retirement	-10.5					-34.5
Environmental remediation expense	4.1	4.3	2.1	-36.9	8.2	18.3
Other	-4.1	-4.3	-2.1	-3.3	-8.2	-18.3
Pre-tax income	195.0	180.2	191.9	188.6	86.9	29.2	-15.9	-33.0
Income taxes	51.3	42.5	50.9	51.3	96.1	11.2	0.3	16.3
Tax rate	26.3%	23.6%	26.5%	27.2%	110.6%	38.4%
Earnings from continuing ops	143.7	137.7	141.0	137.3	-9.2	18.0	-16.2	-49.3
Earnings from discontinued ops								-0.7
Net income	143.7	137.7	141.0	137.3	-9.2	18.0	-16.2	-50.0
Net margin	6.6%	6.6%	7.1%	7.2%	-0.5%	1.0%	-0.9%	-3.1%

Basic EPS [+]	$1.81	$1.78	$1.83	$1.84	($0.13)	$0.27	($0.27)	($0.85)
Growth	2.0%	-2.6%	-0.5%	-1556.5%	-145.9%		-68.9%	-131.2%
Diluted EPS [+]	$1.76	$1.68	$1.73	$1.79	($0.13)	$0.27	($0.27)	($0.85)
Growth	4.6%	-2.6%	-3.5%	-1518.5%	-146.0%		-68.9%	-142.9%

Dividends per share	$5.00

Shares outstanding (basic) [+]	79.2	77.4	77.2	74.8	73.0	65.6	61.1	57.9
Growth	2.3%	0.3%	3.2%	2.5%	11.3%		5.5%	-2.9%
Shares outstanding (diluted) [+]	81.7	81.9	81.7	76.8	73.0	65.7	61.1	57.9
Growth	-0.2%	0.2%	6.4%	5.2%	11.1%		5.5%	-29.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.