Titan International Inc. (DE) (TWI) Financial Statements (2024 and earlier)

Company Profile

Business Address 2701 SPRUCE ST
QUINCY, IL 62301
State of Incorp. IL
Fiscal Year End December 31
Industry (SIC) 3312 - Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments   981176782
Cash and cash equivalents   981176782
Receivables234305278203197252
Inventory, net of allowances, customer advances and progress billings365397393294333396
Inventory365397393294333396
Prepaid expense 242322242626
Derivative instruments and hedges, assets      1
Deposits current assets 111124
Other current assets 713236
Other undisclosed current assets24418217181613
Total current assets:877910813659644779
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2 344
Operating lease, right-of-use asset129212424
Property, plant and equipment322297301320375385
Long-term investments and receivables 7   26
Long-term investments 7     
Accounts and financing receivable, after allowance for credit loss     26
Intangible assets, net (including goodwill)12121012
Goodwill      
Intangible assets, net (excluding goodwill)12121012
Prepaid expense 65711118
Deferred costs   113 
Deferred income tax assets3839   
Other noncurrent assets   30266984
Other undisclosed noncurrent assets2524(296)(334)(402)(407)
Total noncurrent assets:41237568539587
Other undisclosed assets   301320375385
TOTAL ASSETS:1,2891,2851,1831,0321,1141,251
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities201263278167159212
Accounts payable201263278167159212
Debt173133316152
Other liabilities154152140131107111
Other undisclosed current liabilities      
Total current liabilities:372446451330327375
Noncurrent Liabilities
Long-term debt and lease obligation, including:409415452434443410
Long-term debt, excluding current maturities  30 36410
Finance lease, liability1 424
Other undisclosed long-term debt and lease obligation408415407414386 
Liabilities, other than long-term debt, including:404152678077
Deferred tax liabilities, net9
Deferred income tax liabilities23   
Other liabilities383748637367
Operating lease, liability  111717
Other undisclosed liabilities, other than long-term debt   447 
Total noncurrent liabilities:449455505501523486
Total liabilities:822901956831850861
Temporary equity, carrying amount    2525120
Equity
Equity, attributable to parent467381229179235279
Treasury stock, value(53)(23)(1)(1)(4)(8)
Additional paid in capital569566562533532519
Accumulated other comprehensive loss(219)(252)(246)(217)(219)(204)
Retained earnings (accumulated deficit)17091(85)(135)(74)(29)
Equity, attributable to noncontrolling interest02(2)(3)4(9)
Total equity:467383227176239270
TOTAL LIABILITIES AND EQUITY:1,2891,2851,1831,0321,1141,251

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,8222,1691,7801,2591,4491,602
Cost of revenue
(Cost of Goods and Services Sold)
(1,516)(1,809)(1,543)(1,130)(1,320)(1,404)
Other undisclosed gross profit    (15)  
Gross profit:306361238114129198
Operating expenses(157)(155)(152)(150)(157)(156)
Operating income (loss):14920685(35)(28)42
Nonoperating income3252191019
Investment income, nonoperating    222
Gain (loss), foreign currency transaction, before tax(23)112(11)4(11)
Other nonoperating income (expense)02(1)3(0)11
Unusual or infrequent item, or both, net (gain) loss    9 2
Interest and debt expense(19)(30)(48)(22)(33)(30)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(23)112(20)4(11)
Income (loss) from continuing operations before equity method investments, income taxes:11020251(58)(48)20
Income from equity method investments   1124
Income (loss) from continuing operations before income taxes:11020252(57)(46)24
Income tax expense(26)(23)(1)(7)(3)(7)
Income (loss) from continuing operations:8417951(64)(49)17
Income (loss) before gain (loss) on sale of properties:51(64)(49)17
Other undisclosed net loss   (1)(9)(2)(6)
Net income (loss):8417950(65)(52)13
Net income (loss) attributable to noncontrolling interest(5)(3)(0)533
Net income (loss) attributable to parent:7917650(60)(48)16
Other undisclosed net loss available to common stockholders, basic     (2)(12)
Net income (loss) available to common stockholders, diluted:7917650(60)(50)4

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):8417950(65)(52)13
Other comprehensive income (loss)(3) (0)(0)(0)0
Other undisclosed comprehensive income (loss)31(4)(30)(1)(2)(46)
Comprehensive income (loss):11217520(66)(54)(33)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(1)(4)0726
Comprehensive income (loss), net of tax, attributable to parent:11117120(59)(52)(26)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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