Titan International, Inc. (TWI) financial statements (2020 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)

Current Assets
Cash, cash equivalents, and short-term investments6782144148200201
Cash and cash equivalents6782144148200201
Inventory, net of allowances, customer advances and progress billings333396340269270331
Prepaid expense262626252728
Derivative instruments and hedges, assets 10101
Assets held-for-sale, not part of disposal group   93
Deposits current assets244312
Other current assets3658911
Other undisclosed current assets161328781855
Total current assets:644779783726710836
Noncurrent Assets
Finance lease, right-of-use asset4
Operating lease, right-of-use asset24
Property, plant and equipment375385421437450527
Long-term investments and receivables266  15
Long-term investments     10
Accounts and financing receivable, after allowance for credit loss266  5
Intangible assets, net (including goodwill)101215  24
Intangible assets, net (excluding goodwill)101215  24
Prepaid expense1181   
Deferred costs3 12  7
Other noncurrent assets69848295109117
Defined benefit plan, assets for plan benefits  1
Other undisclosed noncurrent assets(402)(407)(452)56(31)
Total noncurrent assets:958786537565660
Other undisclosed assets375385421   
TOTAL ASSETS:1,1141,2511,2901,2631,2751,496
Current Liabilities
Accounts payable and accrued liabilities159212195148123255
Accounts payable159212195148123146
Accrued liabilities     72
Employee-related liabilities     27
Interest and dividends payable     9
Deferred compensation liability     5
Due to related parties     0
Deferred tax liabilities    3
Other liabilities107111134120116129
Other undisclosed current liabilities     (143)
Total current liabilities:327375373366270302
Noncurrent Liabilities
Long-term debt and lease obligation, including:443410407409480497
Long-term debt, excluding current maturities36410407409480497
Finance lease, liability4
Operating lease, liability17
Other undisclosed long-term debt and lease obligation386     
Liabilities, other than long-term debt, including:80778793103108
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 liabilities736773808889
Other undisclosed liabilities, other than long-term debt7    (74)
Total noncurrent liabilities:523486494502583604
Total liabilities:850861867868853906
Temporary equity, carrying amount251201131057771
Stockholders' equity
Stockholders' equity attributable to parent, including:235279321294345511
Treasury stock, value(4)(8)(9)(10)(12)(14)
Additional paid in capital532519532479497513
Accumulated other comprehensive loss(219)(204)(157)(188)(188)(113)
Retained earnings (accumulated deficit)(74)(29)(44)1449126
Other undisclosed stockholders' equity attributable to parent  (1)(1)(1)(1)
Stockholders' equity attributable to noncontrolling interest4(9)(11)(4)(0)7
Total stockholders' equity:239270310290345519
TOTAL LIABILITIES AND EQUITY:1,1141,2511,2901,2631,2751,496

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

Revenue, net1,4691,2651,3951,898
Cost of revenue
(Cost of Goods and Services Sold)
Other undisclosed gross profit  (10)  (3)
Gross profit:129198158142138141
Operating expenses(157)(156)(171)(164)(162)(226)
Other undisclosed operating loss     (12)
Operating income (loss):(28)42(13)(21)(24)(98)
Nonoperating income (expense)1019111211(18)
Investment income, nonoperating222211
Foreign currency transaction gain (loss), before tax4(11)(2)9(5)(32)
Other nonoperating income (expense)(0)11(1)020
Interest and debt expense(33)(30)(49)(33)(34)(37)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes4(11)(2)9(5) 
Income (loss) from continuing operations before equity method investments, income taxes:(48)20(53)(33)(52)(152)
Income from equity method investments244   
Income (loss) from continuing operations before income taxes:(46)24(49)(33)(52)(152)
Income tax expense (benefit)(3)(7)(11)(3)(38)22
Income (loss) before gain (loss) on sale of properties:(49)17(60)(36)(90)(130)
Unusual or infrequent item, or both, net (gain) loss 22 
Other undisclosed net loss(2)(6)(5)   
Net income (loss):(52)13(64)(36)(90)(130)
Net income attributable to noncontrolling interest33421550
Net income (loss) attributable to parent:(48)16(60)(34)(76)(80)
Other undisclosed net loss available to common stockholders, basic(2)(12)(6)(10)(18)(49)
Net income (loss) available to common stockholders, diluted:(50)4(66)(44)(93)(130)

Comprehensive Income ($ in millions)

Net income (loss):(52)13(64)(36)(90)(130)
Other comprehensive income (loss)(0)0(0)(0)0(3)
Other undisclosed comprehensive income (loss)(2)(46)337(80)(65)
Comprehensive loss:(54)(33)(32)(29)(170)(199)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest263(5)1969
Comprehensive loss, net of tax, attributable to parent:(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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