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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1176782144148200201
Cash and cash equivalents1176782144148200201
Receivables203197252235186182206
Inventory, net of allowances, customer advances and progress billings294333396340269270331
Inventory294333396340269270331
Prepaid expense24262626252728
Derivative instruments and hedges, assets  10101
Assets held-for-sale, not part of disposal group    93
Deposits current assets1244312
Other current assets23658911
Other undisclosed current assets18161328781855
Total current assets:659644779783726710836
Noncurrent Assets
Finance lease, right-of-use asset44
Operating lease, right-of-use asset2424
Property, plant and equipment320375385421437450527
Long-term investments and receivables 266  15
Long-term investments      10
Accounts and financing receivable, after allowance for credit loss 266  5
Intangible assets, net (including goodwill)2101215  24
Intangible assets, net (excluding goodwill)2101215  24
Prepaid expense111181   
Deferred costs13 12  7
Other noncurrent assets2669848295109117
Defined benefit plan, assets for plan benefits  1
Other undisclosed noncurrent assets(334)(402)(407)(452)56(31)
Total noncurrent assets:53958786537565660
Other undisclosed assets320375385421   
TOTAL ASSETS:1,0321,1141,2511,2901,2631,2751,496
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities167159212195148123255
Accounts payable167159212195148123146
Accrued liabilities      72
Employee-related liabilities      27
Interest and dividends payable      9
Debt31615244973152
Deferred compensation liability      5
Due to related parties      0
Deferred tax liabilities    3
Other liabilities131107111134120116129
Other undisclosed current liabilities      (143)
Total current liabilities:330327375373366270302
Noncurrent Liabilities
Long-term debt and lease obligation, including:434443410407409480497
Long-term debt, excluding current maturities 36410407409480497
Finance lease, liability24
Operating lease, liability1717
Other undisclosed long-term debt and lease obligation414386     
Liabilities, other than long-term debt, including:6780778793103108
Deferred revenue and credits   12
Accounts payable and accrued liabilities      23
Deferred tax liabilities, net914131519
Liability, pension and other postretirement and postemployment benefits      39
Other liabilities63736773808889
Other undisclosed liabilities, other than long-term debt47    (74)
Total noncurrent liabilities:501523486494502583604
Total liabilities:831850861867868853906
Temporary equity, carrying amount252512011310577 
Stockholders' equity
Stockholders' equity attributable to parent, including:179235279321294345561
Treasury stock, value(1)(4)(8)(9)(10)(12)(14)
Additional paid in capital533532519532479497562
Accumulated other comprehensive loss(217)(219)(204)(157)(188)(188)(113)
Retained earnings (accumulated deficit)(135)(74)(29)(44)1449126
Other undisclosed stockholders' equity attributable to parent   (1)(1)(1)(1)
Stockholders' equity attributable to noncontrolling interest(3)4(9)(11)(4)(0)29
Total stockholders' equity:176239270310290345590
TOTAL LIABILITIES AND EQUITY:1,0321,1141,2511,2901,2631,2751,496

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues1,2591,4491,6021,4691,2651,3951,909
Revenue, net1,4691,2651,3951,909
Cost of revenue
(Cost of Goods and Services Sold)
(1,130)(1,320)(1,404)(1,301)(1,123)(1,257)(1,755)
Other undisclosed gross profit(15)  (10)  (14)
Gross profit:114129198158142138141
Operating expenses(150)(157)(156)(171)(164)(162)(226)
Other undisclosed operating loss      (12)
Operating income (loss):(35)(28)42(13)(21)(24)(98)
Nonoperating income (expense)191019111211(18)
Investment income, nonoperating2222211
Foreign currency transaction gain (loss), before tax(11)4(11)(2)9(5)(32)
Other nonoperating income (expense)3(0)11(1)020
Interest and debt expense(22)(33)(30)(49)(33)(34)(37)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(20)4(11)(2)9(5) 
Income (loss) from continuing operations before equity method investments, income taxes:(58)(48)20(53)(33)(52)(152)
Income from equity method investments1244   
Income (loss) from continuing operations before income taxes:(57)(46)24(49)(33)(52)(152)
Income tax expense (benefit)(7)(3)(7)(11)(3)(38)22
Income (loss) before gain (loss) on sale of properties:(64)(49)17(60)(36)(90)(130)
Unusual or infrequent item, or both, net (gain) loss9 22 
Other undisclosed net loss(9)(2)(6)(5)   
Net income (loss):(65)(52)13(64)(36)(90)(130)
Net income attributable to noncontrolling interest533421550
Net income (loss) attributable to parent:(60)(48)16(60)(34)(76)(80)
Other undisclosed net loss available to common stockholders, basic (2)(12)(6)(10)(18) 
Net income (loss) available to common stockholders, diluted:(60)(50)4(66)(44)(93)(80)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(65)(52)13(64)(36)(90)(130)
Other comprehensive income (loss)(0)(0)0(0)(0)0(3)
Other undisclosed comprehensive income (loss)(1)(2)(46)337(80)(65)
Comprehensive loss:(66)(54)(33)(32)(29)(170)(199)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest7263(5)1969
Comprehensive loss, net of tax, attributable to parent:(59)(52)(26)(29)(35)(151)(130)

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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