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 thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments      116,581
Cash and cash equivalents      116,581
Receivables234,400238,595280,688325,968305,362282,145
Inventory, net of allowances, customer advances and progress billings365,156360,142378,258388,980397,223412,967
Inventory365,156360,142378,258388,980397,223412,967
Prepaid expense 24,472   22,553 
Deposits current assets 1,338   1,388 
Other current assets 7,024   1,289 
Other undisclosed current assets244,391282,584275,308255,520181,81388,954
Total current assets:876,781881,321934,254970,468909,628900,647
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization1,6861,8592,3442,696  
Operating lease, right-of-use asset11,95510,6356,9997,8058,9329,528
Property, plant and equipment321,694302,481307,612300,447296,605287,618
Long-term investments and receivables 7,100     
Long-term investments 7,100     
Intangible assets, net (including goodwill)1,387   1,610 
Goodwill      
Intangible assets, net (excluding goodwill)1,387   1,610 
Prepaid expense 5,879   5,468 
Deferred income tax assets38,03332,36126,68934,89938,73616,416
Other noncurrent assets      59,214
Other undisclosed noncurrent assets24,73029,07827,25328,49223,651(25,944)
Total noncurrent assets:412,464376,414370,897374,339375,002346,832
TOTAL ASSETS:1,289,2451,257,7351,305,1511,344,8071,284,6301,247,479
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities201,201194,501231,884276,072263,376256,715
Accounts payable201,201194,501231,884276,072263,376256,715
Debt16,91317,55618,53623,83630,85732,300
Other liabilities154,261162,761152,826167,954151,928181,937
Other undisclosed current liabilities      
Total current liabilities:372,375374,818403,246467,862446,161470,952
Noncurrent Liabilities
Long-term debt and lease obligation, including:409,178409,747411,671413,371414,761414,566
Long-term debt, excluding current maturities      
Finance lease, liability1,3211,4091,6352,970 3,413
Other undisclosed long-term debt and lease obligation407,857408,338410,036410,401414,761408,328
Liabilities, other than long-term debt40,27739,98139,27440,36740,57040,974
Deferred income tax liabilities2,2342,8343,3123,4383,4254,242
Other liabilities38,04337,14735,96236,92937,14536,732
Operating lease, liability     2,825
Total noncurrent liabilities:449,455449,728450,945453,738455,331455,540
Total liabilities:821,830824,546854,191921,600901,492926,492
Equity
Equity, attributable to parent467,060433,218450,098420,808381,236315,763
Treasury stock, value(52,585)(39,389)(26,983)(22,529)(23,418)(23,662)
Additional paid in capital569,065567,402565,734564,493565,546564,181
Accumulated other comprehensive loss(219,043)(266,983)(241,561)(243,857)(251,755)(273,579)
Retained earnings169,623172,188152,908122,70190,86348,823
Equity, attributable to noncontrolling interest355(29)8622,3991,9025,224
Total equity:467,415433,189450,960423,207383,138320,987
TOTAL LIABILITIES AND EQUITY:1,289,2451,257,7351,305,1511,344,8071,284,6301,247,479

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues390,199401,781481,176548,644509,766530,722
Cost of revenue
(Cost of Goods and Services Sold)
(331,875)(335,708)(395,281)(453,087)(433,071)(443,089)
Gross profit:58,32466,07385,89595,55776,69587,633
Operating expenses(37,606)(39,098)(39,997)(40,421)(35,793)(37,142)
Operating income:20,71826,97545,89855,13640,90250,491
Nonoperating income (expense)1,1011,3371,188(998)(7,855)10,889
Gain (loss), foreign currency transaction, before tax 8762(1,760) 1,198
Other nonoperating income 4611,186762 9,691
Interest and debt expense(2,600)(3,931)(5,762)(6,492)(6,961)(7,221)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (22,822)   927 
Income (loss) from continuing operations before income taxes:(3,603)24,38141,32447,64627,01354,159
Income tax expense (benefit)2,321(4,718)(9,429)(14,216)15,961(11,446)
Income (loss) from continuing operations:(1,282)19,66331,89533,43042,97442,713
Income before gain (loss) on sale of properties:42,713
Net income (loss):(1,282)19,66331,89533,43042,97442,713
Net income (loss) attributable to noncontrolling interest(1,283)(383)(1,688)(1,592)(934)456
Net income (loss) available to common stockholders, diluted:(2,565)19,28030,20731,83842,04043,169

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income (loss):(1,282)19,66331,89533,43042,97442,713
Other comprehensive income (loss)(2,714)21(41)11 (107)
Other undisclosed comprehensive income (loss)51,890(26,717)(520)6,79217,568(28,882)
Comprehensive income (loss):47,894(7,033)31,33440,23360,54213,724
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2,519)8911,169(497)3,3221,101
Comprehensive income (loss), net of tax, attributable to parent:45,375(6,142)32,50339,73663,86414,825

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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