Titan International, Inc. (TWI) financial statements (2021 and earlier)

Company profile

Business Address 2701 SPRUCE ST
QUINCY, IL 62301
State of Incorp. DE
Fiscal Year End December 31
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)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments117998060677966
Cash and cash equivalents117998060677966
Receivables203193192212197221272
Inventory, net of allowances, customer advances and progress billings294284295306333352385
Inventory294284295306333352385
Prepaid expense24   26  
Disposal group, including discontinued operation 7     
Deposits current assets1   2  
Other current assets2   3  
Other undisclosed current assets18567460168162
Total current assets:659638641639644732786
Noncurrent Assets
Finance lease, right-of-use asset4   4  
Operating lease, right-of-use asset242221202423 
Property, plant and equipment320325338344375366376
Long-term investments and receivables    2  
Accounts and financing receivable, after allowance for credit loss    2  
Intangible assets, net (including goodwill)2   10  
Intangible assets, net (excluding goodwill)2   10  
Prepaid expense11   11  
Deferred costs1   3  
Deferred income tax assets 11  2 
Other noncurrent assets265352776991107
Other undisclosed noncurrent assets(334)(23)(22)(20)(402)(25) 
Total noncurrent assets:5337839042195457483
Other undisclosed assets320   375  
TOTAL ASSETS:1,0321,0161,0311,0601,1141,1901,270
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities167151137180159182209
Accounts payable167151137180159182209
Debt31334146616471
Other liabilities131132121116107119112
Total current liabilities:330315299342327366393
Noncurrent Liabilities
Long-term debt and lease obligation, including:434432462445443465445
Long-term debt, excluding current maturities  2830365941
Finance lease, liability233444 
Operating lease, liability171516151717 
Other undisclosed long-term debt and lease obligation414414415396386385404
Liabilities, other than long-term debt, including:67756970808688
Deferred income tax liabilities 233 7 
Other liabilities63736667737879
Other undisclosed liabilities, other than long-term debt4   7 9
Total noncurrent liabilities:501507531514523550533
Total liabilities:831822830856850916926
Temporary equity, carrying amount25252525252556
Stockholders' equity
Stockholders' equity attributable to parent179170175179235244283
Treasury stock, value(1)(1)(2)(4)(4)(6)(7)
Additional paid in capital533532532533532534528
Accumulated other comprehensive loss(217)(243)(249)(249)(219)(234)(208)
Accumulated deficit(135)(118)(105)(100)(74)(49)(30)
Stockholders' equity attributable to noncontrolling interest(3)(1)1(0)445
Total stockholders' equity:176169177179239248288
TOTAL LIABILITIES AND EQUITY:1,0321,0161,0311,0601,1141,1901,270

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues327305286342302346391
Cost of revenue
(Cost of Goods and Services Sold)
(290)(273)(255)(312)(283)(319)(352)
Other undisclosed gross profit(11) (1)(3)   
Gross profit:26313027182738
Operating expenses(42)(38)(33)(37)(36)(40)(41)
Operating loss:(16)(7)(3)(10)(18)(13)(2)
Nonoperating income (expense)1918(10)152
Investment income, nonoperating    (4)50
Foreign currency transaction gain (loss), before tax (1)9(17)4  
Other nonoperating income (expense) 2(0)71(0)(0)
Interest and debt expense1(7)(8)(8)(9)(8)(8)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(20)   2(2)(1)
Loss from continuing operations before equity method investments, income taxes:(15)(13)(3)(27)(23)(18)(10)
Income from equity method investments1   2  
Loss from continuing operations before income taxes:(14)(13)(3)(27)(21)(18)(10)
Income tax expense (benefit)(5)(0)(2)(0)(3)(2)3
Loss before gain (loss) on sale of properties:(19)(13)(5)(27)(23)(20)(7)
Other undisclosed net loss(1)   (2)  
Net loss:(19)(13)(5)(27)(26)(20)(7)
Net income (loss) attributable to noncontrolling interest21(0)2110
Net loss attributable to parent:(17)(13)(5)(25)(25)(19)(6)
Other undisclosed net loss available to common stockholders, basic     (0)(1)
Net loss available to common stockholders, diluted:(17)(13)(5)(25)(25)(20)(7)

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net loss:(19)(13)(5)(27)(26)(20)(7)
Other comprehensive income (loss)(0)00(0)(0)00
Other undisclosed comprehensive income (loss)2651(32)16(20)6
Comprehensive income (loss):6(9)(4)(60)(11)(40)(1)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest22(1)411(0)
Comprehensive income (loss), net of tax, attributable to parent:9(7)(5)(56)(10)(39)(1)

Statements sources

The financial statements are based on the company's filings with the 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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