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TITAN INTL INC   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2021202020192018201720162015201420132012
Period End Date12/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/2012
Sales1,780.221,259.311,448.671,602.411,468.921,265.501,394.771,895.532,163.601,820.68
Total Revenues1,780.221,259.311,448.671,602.411,468.921,265.501,394.771,895.532,163.601,820.68
Cost of sales1,542.671,130.191,319.661,404.141,298.691,124.081,260.031,714.951,868.411,526.54
Mining asset impairment and inventory writedown--14.80----9.92----39.93----
Gross Profit237.54114.32129.00198.27160.31141.42134.74140.64295.19294.14
Idled assets marketed for sale depreciation--------------------
Noncash goodwill impairment charge--------------36.57----
Goodwill impairment on Titan Europe--------------------
Research and development expenses10.109.019.8611.1510.309.9711.1614.0111.177.15
Selling, general and administrative expenses131.77130.94137.70134.79150.68144.99140.39173.61167.37126.16
Royalty expense(10.49)(9.72)(9.88)(10.09)(10.48)(8.86)(10.53)(14.08)(14.26)(12.26)
Supply agreement termination income------------------26.13
Dyneer legal charge--------------------
Operating Income (loss)85.18(35.35)(28.43)42.24(11.15)(22.40)(27.35)(97.63)102.40174.71
Interest expense32.2230.5532.0028.3530.2332.5434.0336.5647.1227.66
Gain on acquisition------------------11.68
Goodwill impairment on Titan Europe--------------------
Dyneer legal charge--------------------
Gain (loss) on sale of assets--------------------
Loss on investment--------------------
Equity Income (loss) from unconsolidated affiliate--------------------
Other income (loss)2.0918.808.3917.099.119.9211.0613.6611.946.82
Foreign exchange loss12.02(11.03)4.00(11.18)(1.96)8.55(4.76)(31.71)(4.92)--
Gain on early retirement of debt--------------------
Debt termination expense--------------------
Noncash Titan Europe Plc charge------------------26.70
Gain (loss) on note repurchase(16.02)------(18.65)------(22.73)--
Convertible debt conversion charge----------------(7.27)--
Gain on earthquake insurance recovery----------------22.45--
Income (loss) before income taxes51.04(58.13)(48.04)19.81(52.88)(36.47)(55.07)(152.24)54.73192.25
Current-State(0.16)0.330.62(0.07)--(0.06)0.060.265.4013.54
Current- Foreign16.4213.689.7511.50--6.067.115.4811.808.29
Deferred- Foreign(14.18)(3.01)(2.30)(2.29)--(0.68)(3.91)(11.93)4.791.76
Deferred:Federal------------24.92(11.67)(8.47)14.18
Deferred:State------------3.43(1.21)(0.32)1.24
Provision (benefit) for income taxes1.156.953.486.7611.203.2834.76(21.82)25.0586.61
Current-Federal(0.93)(4.05)(4.60)(2.38)--(2.04)3.14(2.75)11.8547.62
(Loss) income before extraordinary item--------------------
Consolidated Net Income (Loss)49.89(65.08)(51.52)13.05(64.08)(39.76)(89.83)(130.43)29.69105.64
Net (loss) attributable to noncontrolling interests0.31(4.69)(3.09)(3.04)(4.04)(2.15)(14.65)(49.96)(5.52)(1.59)
Redemption value adjustment----1.9312.216.399.5617.6749.28----
Net Income (Loss) Available to Common Shareholders49.59(60.39)(50.35)3.88(66.44)(47.16)(92.84)(129.74)35.21107.23
(Loss) earnings per common share before extraordinary item--------------------
Net Earnings Per Share (Basic)0.80(0.99)(0.84)0.06(1.12)(0.87)(1.73)(2.43)0.662.47
(Loss) earnings per common share before extraordinary item--------------------
Net Earnings Per Share (Diluted)0.79(0.99)(0.84)0.06(1.12)(0.87)(1.73)(2.43)0.642.05
Weighted Average Shares Outstanding (Basic)62.1060.8260.1059.8259.3453.9253.7053.5053.0443.38
Weighted Average Shares Outstanding (Diluted)62.6960.8260.1059.9159.3453.9253.7053.5059.5254.66