TITAN INTERNATIONAL INC, 10-Q filed on 7/31/2025
Quarterly Report
v3.25.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2025
Jul. 21, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2025  
Document Transition Report false  
Entity File Number 1-12936  
Entity Registrant Name TITAN INTERNATIONAL, INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 36-3228472  
Entity Address, Address Line One 1525 Kautz Road, Suite 600  
Entity Address, City or Town West Chicago  
Entity Address, State or Province IL  
Entity Address, Postal Zip Code 60185  
City Area Code 630  
Local Phone Number 377-0486  
Title of 12(b) Security Common stock, $0.0001 par value  
Trading Symbol TWI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   63,895,267
Entity Central Index Key 0000899751  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Net sales $ 460,830 $ 532,170 $ 951,538 $ 1,014,379
Cost of sales 391,557 451,728 813,621 856,567
Gross profit 69,273 80,442 137,917 157,812
Selling, general and administrative expenses 52,353 51,583 102,208 91,003
Acquisition related expenses 0 0 0 6,196
Research and development expenses 4,341 4,218 8,885 7,872
Royalty expense 2,419 2,319 4,865 5,347
Income from operations 10,160 22,322 21,959 47,394
Interest expense (9,673) (9,732) (19,208) (18,099)
Interest income 2,455 2,545 4,694 5,420
Foreign exchange (loss) gain (2,995) 462 (4,380) 187
Other income 1,140 3,277 2,274 3,682
Income before income taxes 1,087 18,874 5,339 38,584
Provision for income taxes 4,691 15,452 8,921 25,188
Net (loss) income (3,604) 3,422 (3,582) 13,396
Net income attributable to noncontrolling interests 941 1,273 1,612 2,046
Net (loss) income attributable to Titan and applicable to common shareholders $ (4,545) $ 2,149 $ (5,194) $ 11,350
(Loss) earnings per common share:        
Basic (in dollars per share) $ (0.07) $ 0.03 $ (0.08) $ 0.16
Diluted (in dollars per share) $ (0.07) $ 0.03 $ (0.08) $ 0.16
Average common shares and equivalents outstanding:        
Basic (in shares) 63,722 72,737 63,504 68,833
Diluted (in shares) 63,722 73,078 63,504 69,361
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net (loss) income $ (3,604) $ 3,422 $ (3,582) $ 13,396
Derivative loss (43) (74) (51) (72)
Currency translation adjustment 39,477 (16,363) 85,702 (30,731)
Pension liability adjustments, net of tax (25) (161) 65 (13)
Comprehensive income (loss) 35,805 (13,176) 82,134 (17,420)
Net comprehensive income attributable to noncontrolling interests 1,406 3,486 9,028 3,923
Comprehensive income (loss) attributable to Titan $ 34,399 $ (16,662) $ 73,106 $ (21,343)
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 184,669 $ 195,974
Accounts receivable, net of allowance of $2,001 and $3,232, respectively 297,276 211,720
Inventories 477,724 437,192
Prepaid and other current assets 75,928 67,151
Total current assets 1,035,597 912,037
Property, plant and equipment, net 451,901 421,218
Operating lease assets 125,125 117,027
Goodwill 29,563 29,563
Intangible assets, net 11,413 11,985
Deferred income taxes 43,326 41,732
Other long-term assets 55,478 51,391
Total assets 1,752,403 1,584,953
Current liabilities    
Short-term debt 19,795 12,479
Accounts payable 265,141 219,586
Operating leases 11,784 11,999
Other current liabilities 144,248 143,294
Total current liabilities 440,968 387,358
Long-term debt 565,872 552,966
Deferred income taxes 9,024 6,416
Operating leases 116,593 106,020
Other long-term liabilities 42,850 38,537
Total liabilities 1,175,307 1,091,297
Titan shareholders' equity    
Common stock ($0.0001 par value, 120,000,000 shares authorized, 78,447,035 issued and 63,852,976 outstanding at June 30, 2025; 78,447,035 issued and 63,139,435 outstanding at December 31, 2024) 0 0
Additional paid-in capital 735,848 740,223
Retained earnings 158,869 164,063
Treasury stock (at cost, 14,594,059 shares at June 30, 2025 and 15,307,600 shares at December 31, 2024) (116,655) (122,336)
Accumulated other comprehensive loss (207,577) (285,877)
Total Titan shareholders’ equity 570,485 496,073
Noncontrolling interests 6,611 (2,417)
Total equity 577,096 493,656
Total liabilities and equity $ 1,752,403 $ 1,584,953
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares issued (in shares) 78,447,035 78,447,035
Common stock, shares outstanding (in shares) 63,852,976 63,139,435
Treasury stock (in shares) 14,594,059 15,307,600
Accounts Receivable, Allowance for Credit Loss $ (2,001) $ (3,232)
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Total Titan Equity
Common Stock
Additional paid-in capital
Retained earnings
Treasury stock
Accumulated other comprehensive (loss) income
Non-controlling interest
Balance, beginning (in shares) at Dec. 31, 2023     60,715,855          
Balance, beginning at Dec. 31, 2023 $ 467,415 $ 467,060   $ 569,065 $ 169,623 $ (52,585) $ (219,043) $ 355
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 9,974 9,201     9,201     773
Currency translation adjustment, net (14,368) (14,032)         (14,032) (336)
Pension liability adjustments, net of tax 148 148         148  
Derivative gain 2 2         2  
Stock-based compensation (in shares)     266,817          
Stock-based compensation 32 32   (2,388)   2,420    
Issuance of treasury stock under 401(k) plan (in shares)     29,523          
Issuance of treasury stock under 401(k) plan 441 441   174   267    
Common stock repurchase (in shares)     (100,000)          
Common stock repurchase (1,402) (1,402)       (1,402)    
Common stock issuance (in shares)     11,921,766          
Common stock issuance 168,693 168,693   168,693        
Balance, ending (in shares) at Mar. 31, 2024     72,833,961          
Balance, ending at Mar. 31, 2024 630,935 630,143   735,544 178,824 (51,300) (232,925) 792
Balance, beginning (in shares) at Dec. 31, 2023     60,715,855          
Balance, beginning at Dec. 31, 2023 467,415 467,060   569,065 169,623 (52,585) (219,043) 355
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 13,396              
Currency translation adjustment, net (30,731)              
Pension liability adjustments, net of tax $ (13)              
Common stock repurchase (in shares) (875,000)              
Common stock repurchase $ (7,800)              
Balance, ending (in shares) at Jun. 30, 2024     72,174,244          
Balance, ending at Jun. 30, 2024 613,619 609,341   736,720 180,973 (56,616) (251,736) 4,278
Balance, beginning (in shares) at Mar. 31, 2024     72,833,961          
Balance, beginning at Mar. 31, 2024 630,935 630,143   735,544 178,824 (51,300) (232,925) 792
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 3,422 2,149     2,149     1,273
Currency translation adjustment, net (16,363) (18,576)         (18,576) 2,213
Pension liability adjustments, net of tax (161) (161)         (161)  
Derivative loss (74) (74)         (74)  
Stock-based compensation (in shares)     78,530          
Stock-based compensation 1,769 1,769   1,058   711    
Issuance of treasury stock under 401(k) plan (in shares)     36,753          
Issuance of treasury stock under 401(k) plan $ 451 451   118   333    
Common stock repurchase (in shares) (775,000)   (775,000)          
Common stock repurchase $ (6,360) (6,360)       (6,360)    
Balance, ending (in shares) at Jun. 30, 2024     72,174,244          
Balance, ending at Jun. 30, 2024 $ 613,619 609,341   736,720 180,973 (56,616) (251,736) 4,278
Balance, beginning (in shares) at Dec. 31, 2024 63,139,435   63,139,435          
Balance, beginning at Dec. 31, 2024 $ 493,656 496,073   740,223 164,063 (122,336) (285,877) (2,417)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income 22 (649)     (649)     671
Currency translation adjustment, net 46,225 39,274         39,274 6,951
Pension liability adjustments, net of tax 90 90         90  
Derivative loss (8) (8)         (8)  
Stock-based compensation (in shares)     453,842          
Stock-based compensation (925) (925)   (4,539)   3,614    
Issuance of treasury stock under 401(k) plan (in shares)     58,275          
Issuance of treasury stock under 401(k) plan 396 396   (68)   464    
Balance, ending (in shares) at Mar. 31, 2025     63,651,552          
Balance, ending at Mar. 31, 2025 $ 539,456 534,251   735,616 163,414 (118,258) (246,521) 5,205
Balance, beginning (in shares) at Dec. 31, 2024 63,139,435   63,139,435          
Balance, beginning at Dec. 31, 2024 $ 493,656 496,073   740,223 164,063 (122,336) (285,877) (2,417)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income (3,582)              
Currency translation adjustment, net 85,702              
Pension liability adjustments, net of tax $ 65              
Common stock repurchase (in shares) 0              
Balance, ending (in shares) at Jun. 30, 2025 63,852,976   63,852,976          
Balance, ending at Jun. 30, 2025 $ 577,096 570,485   735,848 158,869 (116,655) (207,577) 6,611
Balance, beginning (in shares) at Mar. 31, 2025     63,651,552          
Balance, beginning at Mar. 31, 2025 539,456 534,251   735,616 163,414 (118,258) (246,521) 5,205
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net (loss) income (3,604) (4,545)     (4,545)     941
Currency translation adjustment, net 39,477 39,012         39,012 465
Pension liability adjustments, net of tax (25) (25)         (25)  
Derivative loss (43) (43)         (43)  
Stock-based compensation (in shares)     148,461          
Stock-based compensation 1,404 1,404   223   1,181    
Issuance of treasury stock under 401(k) plan (in shares)     52,963          
Issuance of treasury stock under 401(k) plan $ 431 431   9   422    
Balance, ending (in shares) at Jun. 30, 2025 63,852,976   63,852,976          
Balance, ending at Jun. 30, 2025 $ 577,096 $ 570,485   $ 735,848 $ 158,869 $ (116,655) $ (207,577) $ 6,611
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (3,582) $ 13,396
Adjustments to reconcile net income to net cash (used for) provided by operating activities:    
Depreciation and amortization 32,494 27,423
Deferred income tax provision 2,410 12,978
Loss (gain) on fixed asset and investment sale 38 (388)
Stock-based compensation 479 1,801
Issuance of stock under 401(k) plan 827 892
Gain from property insurance settlement 0 (3,537)
Foreign currency loss (gain) 6,870 (1,063)
(Increase) decrease in assets, net of acquisitions:    
Accounts receivable (60,964) (8,437)
Inventories (13,172) 34,764
Prepaid and other current assets (3,335) (3,789)
Other assets (4,800) (1,468)
Increase (decrease) in liabilities, net of acquisitions:    
Accounts payable 24,038 (2,930)
Other current liabilities (7,499) 1,773
Other liabilities 1,918 1,431
Net cash (used for) provided by operating activities (24,278) 72,846
Cash flows from investing activities:    
Capital expenditures (25,121) (34,199)
Business acquisition, net of cash acquired 0 (142,207)
Proceeds from property insurance settlement 0 3,537
Proceeds from sale of fixed assets 275 1,597
Net cash used for investing activities (24,846) (171,272)
Cash flows from financing activities:    
Proceeds from borrowings 54,936 159,539
Repayments of debt (37,956) (34,095)
Payment of debt issuance costs 0 3,115
Repurchase of common stock 0 (7,762)
Other financing activities (74) (692)
Net cash provided by financing activities 16,906 113,875
Effect of exchange rate changes on cash 20,913 (11,600)
Net (decrease) increase in cash and cash equivalents (11,305) 3,849
Cash and cash equivalents, beginning of period 195,974 220,251
Cash and cash equivalents, end of period 184,669 224,100
Supplemental information:    
Interest paid 21,168 17,956
Income taxes paid, net of refunds received 8,135 11,815
Non cash financing activity:    
Issuance of common stock in connection with business acquisition $ 0 $ 168,693
v3.25.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan, the Company or we) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The accompanying unaudited condensed consolidated interim financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position and the results of operations and cash flows for the periods presented, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025 (the 2024 Form 10-K). All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates. The Company’s results of operations for the three and six months ended June 30, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025.

Fair Value of Financial Instruments
The Company’s financial assets measured at fair value on a recurring basis include investments in marketable equity securities of $1.9 million as of June 30, 2025 and $5.3 million as of December 31, 2024, which are Level 1 fair value measurements as the Company uses quoted market prices. Cash and cash equivalents are carried at cost, which approximates fair value because of the short-term maturities of these instruments. The Company’s revolving credit facility and notes payable are carried at cost, which approximates fair value due to their short terms or stated rates, which are considered Level 2 fair value measurements.  Our 7.00% senior secured notes due 2028 were carried at a cost of $397.6 million at June 30, 2025 and $397.2 million at December 31, 2024. The fair value of the senior secured notes due 2028, as determined with the assistance of an independent pricing platform using real-time trade data, was approximately $401.0 million and $390.0 million, at June 30, 2025 and December 31, 2024, respectively, which was determined to be a Level 2 fair value measurement.

Hyperinflation in Argentina and Turkey
In July 2018 and March 2022, the three-year cumulative rate of inflation for consumer prices and wholesale prices reached a level in excess of 100% for Argentina and Turkey, respectively. As a result, in accordance with Accounting Standards Codification (ASC) Topic 830, Foreign Currency Matters, Argentina and Turkey were considered hyperinflationary economies and the Company has applied the standard since December 31, 2023.

For the three months ended June 30, 2025 and 2024, the Company recognized a net monetary loss of $1.3 million and $0.4 million, respectively, recorded in foreign exchange loss in the consolidated statements of operations associated with the application of ASC 830.

For the six months ended June 30, 2025 and 2024, the Company recognized a net monetary loss of $2.3 million and $1.6 million, respectively, recorded in foreign exchange loss in the consolidated statements of operations associated with the application of ASC 830.

Russia-Ukraine Military Conflict
In February 2022, in response to the military conflict between Russia and Ukraine, the United States, other North Atlantic Treaty Organization member states, as well as non-member states, announced targeted economic sanctions on Russia, certain Russian citizens and enterprises. The continuation of the conflict triggered additional economic and other sanctions enacted by the United States and other countries throughout the world. The scope of potential additional sanctions is unknown.

The Company currently owns 64.3% of Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia, which represented approximately 7% and 5% of consolidated assets of Titan as of June 30, 2025 and December 31, 2024, respectively. The increase in asset percentage was primarily driven by foreign exchange rate fluctuations. The Russian operations represented 5% and 4% of consolidated global sales for the three months ended June 30, 2025 and 2024, respectively, while representing 4% and 5% of consolidated global sales for the six months ended June 30, 2025 and 2024,
respectively. The military conflict between Russia and Ukraine has not had a significant impact on the Company's global operations. The Company continues to monitor the potential impacts on the business including the increased cost of energy in Europe and the ancillary impacts that the military conflict could have on other global operations.

Share Repurchase Program
On December 16, 2022, the Board of Directors authorized a share repurchase program allowing for the expenditure of up to $50.0 million (the Share Repurchase Program) for the repurchase of the Company's common stock. This authorization took effect immediately and will remain in place for up to three years. Titan did not repurchase any shares of its common stock under the Share Repurchase Program during the six months ended June 30, 2025. Titan repurchased 775,000 shares of its common stock totaling $6.4 million during the three months ended June 30, 2024 and 875,000 shares of its common stock totaling $7.8 million during the six months ended June 30, 2024. As of June 30, 2025, $1.0 million remains available for future share repurchases under this program. The Company records treasury stock using the cost method.

Supplier Financing Program
A subsidiary of Titan participates in supplier financing programs pursuant to credit agreements between certain suppliers and financial institutions. The program enables those suppliers to receive payment from participating financial institutions prior to the payment date specified in the terms between Titan and the supplier. Titan does not incur annual service fees associated with its enrollment in the supplier financing program. The transactions are at the sole discretion of both the suppliers and the financial institution, and Titan is not a party to the agreement and has no economic interest in the supplier's decision to receive payment prior to the payment date. The terms between Titan and a supplier, including the amount due and scheduled payment dates, are not impacted by a supplier's participation in the program. Amounts due to suppliers who participate in the program are included in the accounts payable line item in Titan's consolidated balance sheets, and Titan’s payments made under the program are reflected in cash flows from operating activities in Titan's consolidated statements of cash flows. For suppliers who participate in a supplier financing program, Titan will pay the financial institution directly rather than the supplier. The confirmed obligations under the supplier financing programs included in the accounts payable line item in Titan's consolidated balance sheet were $13.5 million at June 30, 2025, and $13.2 million at December 31, 2024.

New Accounting Pronouncements to be Adopted in Future Periods
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, may be applied prospectively or retrospectively, and allows for early adoption. The Company plans to adopt this guidance on its consolidated financial statements and related disclosures for the annual period ending December 31, 2025 and we are currently evaluating the impact of the adoption.

In November 2024, FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires additional disclosure about the specific expense categories in the notes to financial statements for interim and annual reporting periods. The amendments in this ASU do not change or remove current expense disclosure requirements but affect where this information appears in the notes to financial statements. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. We are currently evaluating the impact that ASU 2024-03 will have on our consolidated financial statements.
v3.25.2
BUSINESS COMBINATION
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATION BUSINESS COMBINATION
Acquisition of The Carlstar Group (now also known as Titan Specialty)

On February 29, 2024, we acquired 100% of the equity interests of The Carlstar Group, LLC (Carlstar, now also known as Titan Specialty) for the following purchase consideration, subject to a working capital adjustment based on an agreed upon working capital target (amounts in thousands):
Purchase Consideration
Titan International, Inc. common stock$168,693 
Base cash consideration, net of cash acquired of $10,288
127,500 
$296,193 
Additional cash consideration for excess net working capital acquired19,759 
Other debt-like items(3,616)
Total purchase consideration, net of cash acquired$312,336 

Titan Specialty is a global manufacturer and distributor of wheels and tires for a variety of end-market verticals including outdoor power equipment, power sports, trailers, and small to midsize agricultural and construction equipment. Titan Specialty has 17 manufacturing and distribution facilities located in four countries and provides solutions to customers in North America, Europe and China. Since the acquisition, we refer to much of Carlstar’s product line as “Titan Specialty” with all of Carlstar's operations now integrated as part of our One Titan platform.

The following table summarizes the final allocation of purchase price consideration to the major classes of assets and liabilities as of February 29, 2024 (amounts in thousands):
Final Purchase Price Allocation
Accounts receivable$92,043 
Inventories150,900 
Prepaid and other current assets13,339 
Property, plant, and equipment115,090 
Other long-term assets111,864 
Goodwill29,563 
Intangible assets11,500 
Fair value of assets acquired$524,299 
Accounts payable$66,055 
Other current liabilities28,377 
Operating leases108,249 
Deferred tax liabilities7,773 
Other long-term liabilities1,509 
Fair value of liabilities assumed$211,963 
Purchase price$312,336 

Goodwill represents value we expect to be created by combining the operations of the acquired business with our operations, including the expansion of customer relationships, access to new customers, and potential cost savings and synergies. Goodwill related to the acquisition is deductible for tax purposes. The carrying value of goodwill by reportable segment as of June 30, 2025 and December 31, 2024 was as follows:
 Carrying Value
Agricultural$4,844 
Earthmoving/construction— 
Consumer24,719 
Total$29,563 
Through June 30, 2024, the actual revenue and income before taxes of Titan Specialty since the acquisition date of February 29, 2024 included in the consolidated statement of operations is as shown below (amounts in thousands). The net income includes the effect of fair value adjustments for the amortization of inventory, intangible assets, and depreciation of property, plant and equipment.
 
From Acquisition Date to
June 30, 2024
Titan Specialty revenue
$187,610 
Titan Specialty income before taxes
8,084 

The following is the unaudited pro forma financial information for the three and six months ended June 30, 2024 that reflects our results of our operations as if the acquisition of Titan Specialty had been completed on January 1, 2023. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2023, nor is it indicative of the future consolidated results of operations or financial position of the combined companies (amounts in thousands, except per share data).

Three months endedSix months ended
June 30, 2024June 30, 2024
Pro forma revenues$532,170 $1,116,197 
Pro forma net income10,752 36,197 
Net income per common share, basic$0.15 $0.50 
Net income per common share, diluted0.14 0.49 

These pro forma amounts have been calculated after applying our accounting policies and making certain adjustments, which primarily relate to: (i) severance-related costs, (ii) adjustments relating to the fair value step-ups to inventory and (iii) transaction-related costs of both Titan and Titan Specialty. These pro forma amounts were adjusted to be excluded from the unaudited pro forma information for the three and six months ended June 30, 2024.

Total acquisition-related costs for the three and six months ended June 30, 2024 was $0.0 and $6.2 million, respectively.
v3.25.2
ACCOUNTS RECEIVABLE, NET
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
ACCOUNTS RECEIVABLE, NET ACCOUNTS RECEIVABLE, NET
Accounts receivable consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024		June 30,
2024
Accounts receivable$299,277 $214,952 $323,609 
Allowance for credit losses(2,001)(3,232)(6,970)
Accounts receivable, net$297,276 $211,720 $316,639 

Accounts receivable is reduced by an estimated allowance for credit losses which is based on known risks and historical losses.

Changes in the allowance for credit losses during the six months ended June 30, 2025 and 2024, respectively, consisted of the following (amounts in thousands):
 20252024
Balance at January 1,$3,232 $5,340 
Provision charged to expense21 112 
Recoveries of accounts receivable— (743)
Other, including foreign currency translation and acquisition related activity(1,252)2,261 
Balance at June 30,$2,001 $6,970 
v3.25.2
INVENTORIES
 6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
Inventories consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Raw material$111,958 $103,616 
Work-in-process49,775 41,898 
Finished goods315,991 291,678 
 $477,724 $437,192 
Inventories are reduced by estimated provisions for slow-moving and obsolete inventory. These provisions reduce the cost basis of the asset.
v3.25.2
PROPERTY, PLANT AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment, net consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Land and improvements$47,744 $42,534 
Buildings and improvements283,998 260,256 
Machinery and equipment762,344 703,899 
Tools, dies and molds121,306 118,569 
Construction-in-process46,095 46,997 
 1,261,487 1,172,255 
Less accumulated depreciation(809,586)(751,037)
 $451,901 $421,218 
 
Depreciation on property, plant and equipment was $15.0 million and $14.3 million for the three months ended June 30, 2025 and 2024, respectively and $29.1 million and $25.9 million for the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
INTANGIBLE ASSETS, NET
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET INTANGIBLE ASSETS, NET
The components of intangible assets, net consisted of the following (amounts in thousands):
June 30, 2025
Weighted- Average
Useful Lives
(in Years)		Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortizable intangible assets:
Customer lists/relationships12.50$6,000 $(640)$5,360 
Trade names10.005,500 (733)4,767 
Other intangibles15.203,663 (2,377)1,286 
Total$15,163 $(3,750)$11,413 

December 31, 2024
Weighted- Average
Useful Lives
(in Years)		Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortizable intangible assets:
Customer lists/relationships12.50$6,000 $(400)$5,600 
Trade names10.005,500 (458)5,042 
Other intangibles15.523,523 (2,180)1,343 
Total$15,023 $(3,038)$11,985 

Amortization related to intangible assets was $0.3 million and $0.9 million for the three months ended June 30, 2025 and 2024, respectively, and $0.6 million and $1.1 million for the six months ended June 30, 2025 and 2024, respectively.

The estimated aggregate amortization expense at June 30, 2025, for each of the years (or other periods) set forth below was as follows (amounts in thousands):
July 1 - December 31, 2025$644 
20261,287 
20271,226 
20281,153 
20291,153 
Thereafter5,950 
 $11,413 
v3.25.2
OTHER CURRENT LIABILITIES
 6 Months Ended
Jun. 30, 2025
Other Liabilities, Current [Abstract]  
OTHER CURRENT LIABILITIES OTHER CURRENT LIABILITIES
Other current liabilities consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Compensation and benefits$54,348 $47,735 
Warranty13,296 12,571 
Accrued insurance benefits18,814 20,218 
Customer rebates and deposits14,226 15,004 
Accrued other taxes11,793 12,142 
Accrued interest5,614 5,646 
Foreign government grant (1)
3,936 3,672 
Other22,221 26,306 
 $144,248 $143,294 
(1) We received government subsidies in 2023 associated with capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidies is used to offset existing payables to governmental entities in the future. In addition, during August 2014, we received an approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of its Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant.
v3.25.2
WARRANTY
 6 Months Ended
Jun. 30, 2025
Product Warranties Disclosures [Abstract]  
WARRANTY WARRANTY
Changes in the warranty liability during the six months ended June 30, 2025 and 2024, respectively, consisted of the following (amounts in thousands):
 20252024
Warranty liability at beginning of the period$22,392 $21,710 
Provision for warranty liabilities6,397 9,751 
Warranty payments made(5,017)(9,120)
   Other adjustments, including acquisition of Titan Specialty— 1,784 
Warranty liability at end of the period$23,772 $24,125 

We provide limited warranties on workmanship on our products in all market segments.  The majority of our products are subject to a limited warranty that ranges between less than one year and ten years, with certain product warranties being prorated after the first year.  We calculate a provision for warranty expense based on past warranty experience.  Warranty accruals are included as a component of other current liabilities and other long-term liabilities on the condensed consolidated balance sheets.
v3.25.2
DEBT
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
Long-term debt consisted of the following (amounts in thousands):
June 30, 2025
Principal BalanceUnamortized Debt IssuanceNet Carrying Amount
7.00% senior secured notes due 2028
$400,000 $(2,419)$397,581 
Revolving credit facility159,000 — 159,000 
Titan Europe credit facilities19,157 — 19,157 
Other debt9,929 — 9,929 
     Total debt588,086 (2,419)585,667 
Less amounts due within one year19,795 — 19,795 
     Total long-term debt$568,291 $(2,419)$565,872 
December 31, 2024
Principal BalanceUnamortized Debt IssuanceNet Carrying Amount
7.00% senior secured notes due 2028
$400,000 $(2,847)$397,153 
Revolving credit facility146,000 — 146,000 
Titan Europe credit facilities15,199 — 15,199 
Other debt7,093 — 7,093 
     Total debt568,292 (2,847)565,445 
Less amounts due within one year12,479 — 12,479 
     Total long-term debt$555,813 $(2,847)$552,966 

The weighted average interest rates on short-term borrowings due within one year at June 30, 2025 and December 31, 2024, were approximately 3.3% and 4.1%, respectively.

Aggregate principal maturities of debt at June 30, 2025 for each of the years (or other periods) set forth below were as follows (amounts in thousands):
July 1 - December 31, 2025$13,125 
202610,389 
20272,129 
2028559,602 
2029597 
Thereafter2,244 
 $588,086 
7.00% senior secured notes due 2028
On April 22, 2021, we issued $400 million aggregate principal amount of 7.00% senior secured notes due April 2028 (the senior secured notes due 2028), guaranteed by certain of our subsidiaries. Including the impact of debt issuance costs, these notes had an effective yield of 7.27% at issuance. These notes are secured by the land and buildings of the following of our subsidiaries: Titan Wheel Corporation of Illinois, Titan Tire Corporation, Titan Tire Corporation of Freeport, and Titan Tire Corporation of Bryan.

Revolving Credit Facility
In connection with the acquisition of Titan Specialty, Titan entered into a domestic credit facility which was effective on February 29, 2024. The credit facility, with Bank of America as agent, consists of a $225.0 million revolving line of credit and
is collateralized by accounts receivable and inventory of certain of the Company's domestic and Canadian subsidiaries. In addition, swingline loans and letters of credit are available under the facility up to an aggregate outstanding amount of $20.0 million for swingline loans and $50.0 million for letters of credit. The credit facility has a five-year term and can be expanded by up to $50.0 million through an uncommitted accordion provision within the agreement. It is scheduled to mature on February 28, 2029 or 91 days prior to the maturity of our 7.00% secured notes due in 2028. The new credit facility has terms similar to those contained in the previous credit facility as well as other enhancements to further improve the availability within the borrowing base. The interest rate of the credit facility is based on the prevailing SOFR rate subject to certain debt levels within each month. As of June 30, 2025, the weighted average interest rate was 6.30%.

The total amount available for borrowing under the credit facility at June 30, 2025 totaled $199.7 million, based on eligible accounts receivable and inventory balances. With outstanding letters of credit totaling $5.9 million and $159.0 million in outstanding borrowings under the revolving credit facility, the net amount available for borrowing under the new credit facility totaled $34.8 million at June 30, 2025.

The total amount available for borrowing under the credit facility at December 31, 2024 totaled $177.1 million, based on eligible accounts receivable and inventory balances. With outstanding letters of credit totaling $9.9 million and $146.0 million in outstanding borrowings under the revolving credit facility, the net amount available for borrowing under the new credit facility totaled $21.2 million at December 31, 2024.

Titan Europe Credit Facilities
The Titan Europe credit facilities include borrowings from various institutions totaling $19.2 million and $15.2 million in aggregate principal amount at June 30, 2025 and December 31, 2024, respectively. Maturity dates on this debt range from less than one year to five years. The interest rates range from 0.5% to 6.5%.

Other Debt
We have working capital loans at Titan Pneus do Brasil Ltda at varying interest rates between approximately 5.0% and 6.9%, which totaled $9.9 million at June 30, 2025. Similarly, we had a working capital loan at Titan Pneus do Brasil Ltda at varying interest rates from approximately 6.9% to 7.6%, which totaled $7.1 million at December 31, 2024. The maturity dates on these loans range from one year to two years. We expect to negotiate an extension of the maturity dates on these loans with the applicable financial institutions or to repay the loan, as needed.

Debt Restrictions
Our $225.0 million revolving credit facility and indenture relating to the 7.00% senior secured notes due 2028 contain various restrictions, including:
•When remaining availability under the credit facility is less than the greater of (i) $17.0 million and (ii) 10% of the credit facility’s line cap (the line cap being the lesser of our borrowing base or the lenders’ commitments under the credit facility), the Company will be required to maintain a minimum fixed charge coverage ratio of not less than 1.0 to 1.0 (calculated quarterly on a trailing four quarter basis);
•Limits on dividends and repurchases of the our stock;
•Restrictions on our ability to make additional borrowings, or to consolidate, merge, or otherwise fundamentally change the ownership of the Company;
•Limits on investments, dispositions of assets, and guarantees of indebtedness; and
•Other customary affirmative and negative covenants.
These covenants are subject to a number of exceptions and qualifications that are described in the credit and security agreement and the indenture relating to the 7.00% senior secured notes due 2028. These restrictions could limit our ability to respond to market conditions, provide for unanticipated capital investments, raise additional debt or equity capital, pay dividends, repurchase stock or take advantage of business opportunities, including future acquisitions. We were in compliance with these debt covenants at June 30, 2025.
v3.25.2
LEASES
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES LEASES
We lease certain buildings and equipment under both operating and finance leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the
Company. Under ASC Topic 842, Leases, we made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent our right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of our leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we used our incremental borrowing rate (7.27%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the condensed consolidated statements of operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the condensed consolidated statements of operations.

Supplemental balance sheet information related to leases was as follows (amounts in thousands):
Balance Sheet ClassificationJune 30,
2025		December 31,
2024
Operating lease ROU assetsOperating lease assets$125,125 $117,027 
Operating lease current liabilitiesOperating leases current liabilities11,784 11,999 
Operating lease long-term liabilitiesOperating leases long-term liabilities116,593 106,020 
    Total operating lease liabilities$128,377 $118,019 
Finance lease, grossProperty, plant & equipment, net$8,396 $6,801 
Finance lease accumulated depreciationProperty, plant & equipment, net(4,918)(4,442)
   Finance lease, net$3,478 $2,359 
Finance lease current liabilitiesOther current liabilities$1,492 $986 
Finance lease long-term liabilitiesOther long-term liabilities2,157 1,483 
   Total finance lease liabilities$3,649 $2,469 

At June 30, 2025, maturities of lease liabilities were as follows (amounts in thousands):
Operating
Leases		Finance
Leases
July 1 - December 31, 2025$12,345 $909 
202621,293 1,475 
202718,591 1,032 
202816,666 508 
202915,721 123 
Thereafter121,636 82 
Total lease payments$206,252 $4,129 
Less imputed interest77,875 480 
$128,377 $3,649 
Weighted average remaining lease term (in years)12.572.93
Weighted average discount rate 7.27 %7.27 %
Supplemental cash flow information related to leases for the six months ended June 30, 2025 were as follows: operating cash flows from operating leases were $5.2 million.
Supplemental cash flow information related to leases for the six months ended June 30, 2024 were as follows: operating cash flows from operating leases were $4.5 million.
LEASES LEASES
We lease certain buildings and equipment under both operating and finance leases.  Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the
Company. Under ASC Topic 842, Leases, we made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent our right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of our leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we used our incremental borrowing rate (7.27%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the condensed consolidated statements of operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the condensed consolidated statements of operations.

Supplemental balance sheet information related to leases was as follows (amounts in thousands):
Balance Sheet ClassificationJune 30,
2025		December 31,
2024
Operating lease ROU assetsOperating lease assets$125,125 $117,027 
Operating lease current liabilitiesOperating leases current liabilities11,784 11,999 
Operating lease long-term liabilitiesOperating leases long-term liabilities116,593 106,020 
    Total operating lease liabilities$128,377 $118,019 
Finance lease, grossProperty, plant & equipment, net$8,396 $6,801 
Finance lease accumulated depreciationProperty, plant & equipment, net(4,918)(4,442)
   Finance lease, net$3,478 $2,359 
Finance lease current liabilitiesOther current liabilities$1,492 $986 
Finance lease long-term liabilitiesOther long-term liabilities2,157 1,483 
   Total finance lease liabilities$3,649 $2,469 

At June 30, 2025, maturities of lease liabilities were as follows (amounts in thousands):
Operating
Leases		Finance
Leases
July 1 - December 31, 2025$12,345 $909 
202621,293 1,475 
202718,591 1,032 
202816,666 508 
202915,721 123 
Thereafter121,636 82 
Total lease payments$206,252 $4,129 
Less imputed interest77,875 480 
$128,377 $3,649 
Weighted average remaining lease term (in years)12.572.93
Weighted average discount rate 7.27 %7.27 %
Supplemental cash flow information related to leases for the six months ended June 30, 2025 were as follows: operating cash flows from operating leases were $5.2 million.
Supplemental cash flow information related to leases for the six months ended June 30, 2024 were as follows: operating cash flows from operating leases were $4.5 million.
v3.25.2
EMPLOYEE BENEFIT PLANS
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
We have three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. We also have pension plans covering certain employees of several foreign subsidiaries. We also sponsor a number of defined contribution plans in the U.S. and at foreign subsidiaries. We contributed approximately $0.2 million to the pension plans during the six months ended June 30, 2025 and expects to contribute $0.1 million to the pension plans during the remainder of 2025.

The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):

Three months endedSix months ended
June 30,June 30,
2025202420252024
Service cost$129 $204 $290 $366 
Interest cost936 951 1,881 1,903 
Expected return on assets(1,385)(1,301)(2,714)(2,602)
Amortization of unrecognized prior service cost(15)(14)(29)(30)
Amortization of net unrecognized loss 14 68 32 136 
   Net periodic pension benefit$(321)$(92)$(540)$(227)
Service cost is recorded as cost of sales in the condensed consolidated statements of operations while all other components are recorded in other income.
v3.25.2
VARIABLE INTEREST ENTITIES
 6 Months Ended
Jun. 30, 2025
Variable Interest Entity, Measure of Activity [Abstract]  
VARIABLE INTEREST ENTITIES VARIABLE INTEREST ENTITIES
We hold variable interests in certain variable interest entities (VIEs) that are not consolidated because we are not the primary beneficiary. Our involvement with these entities is in the form of direct equity interests and prepayments related to purchases of materials. The maximum exposure to loss represents the loss of assets recognized by us relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's condensed consolidated balance sheets related to our interest in these non-consolidated VIEs and our maximum exposure to loss relating to non-consolidated VIEs as of the dates set forth below were as follows (amounts in thousands):
 June 30,
2025		December 31,
2024
Investments$10,233 $7,919 
     Total VIE assets10,233 7,919 
Accounts payable to the non-consolidated VIEs1,656 2,646 
  Maximum exposure to loss$11,889 $10,565 
v3.25.2
ROYALTY EXPENSE
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
ROYALTY EXPENSE ROYALTY EXPENSEWe have trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm, ATV and truck tires under the Goodyear brand. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia, other Commonwealth of Independent States countries, Australia, and New Zealand. The farm and ATV agreement is scheduled to expire at the end of 2029 with annual renewal options following the initial term. The truck tires royalty agreement expires December 31, 2025. We also have a trademark license agreement with Carlisle Companies, Inc. to manufacture and sell certain tires under the Carlisle® brand. This trademark license agreement is scheduled to expire in 2033. Total royalty expenses were $2.4 million and $2.3 million for the three months ended June 30, 2025 and 2024, respectively, and $4.9 million and $5.3 million for the six months ended June 30, 2025 and 2024, respectively.
v3.25.2
OTHER INCOME
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
OTHER INCOME OTHER INCOME
Other income consisted of the following (amounts in thousands):
Three months endedSix months ended
June 30,June 30,
 2025202420252024
Gain on property insurance settlement (1)
$— $1,913 $— $1,913 
Equity investment income230 241 404 568 
Gain (loss) on sale of assets2 413 (38)388 
Pension plan income526 405 1,053 810 
Other income382 305 855 3 
 $1,140 $3,277 $2,274 $3,682 
(1) The gain on property insurance settlement relates to the receipt of insurance proceeds of $3.5 million offset by costs to repair one of our operating facilities in Italy related to a 2023 hail storm weather event.
v3.25.2
INCOME TAXES
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
We recorded income tax expense of $4.7 million and $15.5 million for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, we recorded income tax expense of $8.9 million and $25.2 million, respectively. Our effective income tax rate was 431.6% and 81.9% for the three months ended June 30, 2025 and 2024, respectively, and 167.1% and 65.3% for the six months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, the income tax expense differed each period due to an overall decrease in pre-tax income.

Our 2025 and 2024 income tax expense and rates differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of foreign income tax rate differential on the mix of earnings, the valuation allowance on the interest expense carryforward, and certain foreign inclusion items on the domestic provision.

We continue to monitor the realization of our deferred tax assets and assesses the need for a valuation allowance. We analyze available positive and negative evidence to determine if a valuation allowance is needed based on the weight of the evidence. This objectively verifiable evidence primarily includes the past three years' profit and loss positions. This process requires management to make estimates, assumptions, and judgments that are uncertain in nature. We have established valuation allowances with respect to certain deferred tax assets in the U.S. and certain foreign jurisdictions and continues to monitor and assess the need for valuation allowances in all its jurisdictions.

The Organization Economic Co-operation and Development (OECD) introduced Base Erosion and Profit Shifting (BEPS) Pillar 2 rules that impose a global minimum tax rate of 15%. Numerous countries, including European Union member states, have enacted legislation effective as early as January 1, 2024, with general implementation of a global minimum tax by January 1, 2025. Other countries are expected to enact similar legislation. Titan will continue to evaluate the potential impact on the condensed consolidated financial statements and related disclosures but does not anticipate a material impact. Titan did not record any tax associated with Pillar 2 for the six months ended June 30, 2025.

The One, Big, Beautiful Bill Act (the “Act”) was signed into law on July 4th. 2025. The Act contains significant tax law changes with various effective dates, with certain provisions effective in 2025 and other implemented through 2027, affecting business taxpayers. Among the tax law changes that will impact the Company are those that relate to the timing of certain tax deductions including depreciation expense, R&D expenditures, and interest expense. The Company is currently evaluating the impact of the Act on our consolidated financial statements.
v3.25.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE (LOSS) EARNINGS PER SHARE
(Loss) earnings per share (EPS) were as follows (amounts in thousands, except per share data):
Three months endedSix months ended
June 30,June 30,
2025202420252024
Net (loss) income attributable to Titan and applicable to common shareholders$(4,545)$2,149 $(5,194)$11,350 
Determination of shares:
   Weighted average shares outstanding (basic)63,722 72,737 63,504 68,833 
   Effect of restricted stock and stock options— 341 — 528 
   Weighted average shares outstanding (diluted)63,722 73,078 63,504 69,361 
(Loss) earnings per common share:
Basic$(0.07)$0.03 $(0.08)$0.16 
Diluted$(0.07)$0.03 $(0.08)$0.16 

The effect of restricted stock and stock options has been excluded for the three and six months ended June 30, 2025, as the effect would have been antidilutive. The weighted average shares excluded for equity awards was 0.1 million and 0.4 million for the three and six months ended June 30, 2025, respectively.
v3.25.2
LITIGATION
 6 Months Ended
Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
LITIGATION LITIGATION
We are a party to routine legal proceedings arising out of the normal course of business. Due to the difficult nature of predicting unresolved and future legal claims, we cannot anticipate or predict the material adverse effect on its consolidated financial condition, results of operations, or cash flows as a result of efforts to comply with, or liabilities pertaining to, legal judgments. In the opinion of management, we are not currently involved in any legal proceedings which, individually or in the aggregate, could have a material effect on its financial position, results of operations, or cash flows.
v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We have aggregated its operating segments into reportable segments based on its three customer markets: agricultural, earthmoving/construction, and consumer. These segments are based on the information used by the chief operating decision maker (CODM) to make certain operating decisions, allocate portions of capital expenditures and assess segment performance. The accounting policies of the segments are the same as those described in Note 1, “Basis of Presentation and Significant Accounting Policies” to these Notes to the Condensed Consolidated Financial Statements. Segment external revenues, expenses, and income from operations are determined on the basis of the results of operations of operating units of manufacturing facilities.

We are organized primarily on the basis of products being included in three marketing segments, with each reportable segment including wheels, tires, wheel/tire assemblies, and undercarriage systems and components. Given the integrated manufacturing operations and common administrative and marketing support, a substantial number of allocations primarily based on segment sales data must be made to determine operating segment data.

The CODM of Titan is Paul Reitz (our President and CEO) is our CODM. The CODM utilizes both forecasted and actual expense information on a consolidated basis to manage operations. The CODM utilizes segment gross profit and segment operating profit (loss), both in comparison to the prior year and the current forecasted level of gross profit, for purposes of analyzing the segment’s financial performance. The assessment of each segment’s financial performance by the CODM is then utilized to contemplate and execute on business decisions to allocate resources to manage the growth and profitability of each reportable segment and for the Company as a whole. The CODM does not review asset information by segment to manage operations or allocate resources. Therefore, segment assets are not disclosed.
The table below presents information about certain operating results, separated by market segments, for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):

Three months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$193,223 $152,347 $115,260 $— $460,830 
Cost of sales164,943 134,873 91,741 — 391,557 
Gross profit$28,280 $17,474 $23,519 $— $69,273 
Selling, general and administrative expenses13,871 12,494 18,916 7,072 52,353 
Research and development expenses1,329 1,652 915 445 4,341 
Royalty expense1,627 334 458 — 2,419 
Segment profit (loss)$11,453 $2,994 $3,230 $(7,517)$10,160 
Interest expense(9,673)(9,673)
Interest income2,455 2,455 
Foreign exchange loss(2,995)(2,995)
Other income1,140 1,140 
(Loss) income before income taxes$(16,590)$1,087 


Six months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$390,969 $295,637 $264,932 $— $951,538 
Cost of sales338,202 263,270 212,149 — 813,621 
Gross profit$52,767 $32,367 $52,783 $— $137,917 
Selling, general and administrative expenses25,945 23,515 38,003 14,745 102,208 
Research and development expenses2,683 3,501 1,803 898 8,885 
Royalty expense3,244 681 940 — 4,865 
Segment profit (loss)$20,895 $4,670 $12,037 $(15,643)$21,959 
Interest expense(19,208)(19,208)
Interest income4,694 4,694 
Foreign exchange loss(4,380)(4,380)
Other income2,274 2,274 
(Loss) income before income taxes$(32,263)$5,339 
Three months ended June 30, 2024
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$216,330 $165,564 $150,276 $— $532,170 
Cost of sales184,027 144,265 123,436 — 451,728 
Gross profit$32,303 $21,299 $26,840 $— $80,442 
Selling, general and administrative expenses13,927 12,121 18,997 6,538 51,583 
Research and development expenses1,162 1,814 834 408 4,218 
Royalty expense1,442 317 560 — 2,319 
Segment profit (loss)$15,772 $7,047 $6,449 $(6,946)$22,322 
Interest expense(9,732)(9,732)
Interest income2,545 2,545 
Foreign exchange gain462 462 
Other income3,277 3,277 
(Loss) income before income taxes$(10,394)$18,874 


Six months ended June 30, 2024
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$456,003 $330,772 $227,604 $— $1,014,379 
Cost of sales383,081 286,496 186,990 — 856,567 
Gross profit$72,922 $44,276 $40,614 $— $157,812 
Selling, general and administrative expenses27,321 24,077 26,800 12,805 91,003 
Acquisition related expenses— — — 6,196 6,196 
Research and development expenses2,392 3,480 1,170 830 7,872 
Royalty expense3,427 838 1,082 — 5,347 
Segment profit (loss)$39,782 $15,881 $11,562 $(19,831)$47,394 
Interest expense(18,099)(18,099)
Interest income5,420 5,420 
Foreign exchange gain187 187 
Other income3,682 3,682 
(Loss) income before income taxes$(28,641)$38,584 
The table below presents net sales by products and reportable segments for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2025
Wheels and Tires [including assemblies]$182,858 $54,138 $107,561 $344,557 
Undercarriage systems and components10,365 98,209 7,699 116,273 
 Total$193,223 $152,347 $115,260 $460,830 
Six months ended June 30, 2025
Wheels and Tires [including assemblies]$371,225 $108,551 $249,736 $729,512 
Undercarriage systems and components19,744 187,086 15,196 222,026 
Total$390,969 $295,637 $264,932 $951,538 

AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2024
Wheels and Tires [including assemblies]$205,709 $59,352 $142,230 $407,291 
Undercarriage systems and components10,621 106,212 8,046 124,879 
 Total$216,330 $165,564 $150,276 $532,170 
Six months ended June 30, 2024
Wheels and Tires [including assemblies]$434,743 $125,597 $213,584 $773,924 
Undercarriage systems and components21,260 205,175 14,020 240,455 
Total$456,003 $330,772 $227,604 $1,014,379 

Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Three months ended June 30, 2025$6,740 $5,314 $4,021 $548 $16,623 
Six months ended June 30, 202512,898 9,777 8,682 1,137 32,494 
Three months ended June 30, 20246,042 4,623 4,196 561 15,422 
Six months ended June 30, 202411,750 8,558 6,038 1,077 27,423 
v3.25.2
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME
Accumulated other comprehensive (loss) income consisted of the following (amounts in thousands):
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at April 1, 2025$(250,404)$497 $3,386 $(246,521)
Currency translation adjustments39,012 — — 39,012 
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (25)(25)
Derivative loss— (43)— (43)
Balance at June 30, 2025$(211,392)$454 $3,361 $(207,577)
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at January 1, 2025$(289,678)$505 $3,296 $(285,877)
Currency translation adjustments78,286 — — 78,286 
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — 65 65 
Derivative loss— (51)— (51)
Balance at June 30, 2025$(211,392)$454 $3,361 $(207,577)

 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at April 1, 2024$(231,487)$742 $(2,180)$(232,925)
Currency translation adjustments(18,576)— — (18,576)
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (161)(161)
Derivative loss— (74)— (74)
Balance at June 30, 2024$(250,063)$668 $(2,341)$(251,736)
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at January 1, 2024$(217,455)$740 $(2,328)$(219,043)
Currency translation adjustments, net(32,608)— — (32,608)
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (13)(13)
Derivative loss— (72)— (72)
Balance at June 30, 2024$(250,063)$668 $(2,341)$(251,736)
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Pay vs Performance Disclosure        
Net (loss) income attributable to Titan and applicable to common shareholders $ (4,545) $ 2,149 $ (5,194) $ 11,350
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)
 6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan, the Company or we) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The accompanying unaudited condensed consolidated interim financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position and the results of operations and cash flows for the periods presented, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025 (the 2024 Form 10-K). All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates. The Company’s results of operations for the three and six months ended June 30, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The Company’s financial assets measured at fair value on a recurring basis include investments in marketable equity securities of $1.9 million as of June 30, 2025 and $5.3 million as of December 31, 2024, which are Level 1 fair value measurements as the Company uses quoted market prices. Cash and cash equivalents are carried at cost, which approximates fair value because of the short-term maturities of these instruments. The Company’s revolving credit facility and notes payable are carried at cost, which approximates fair value due to their short terms or stated rates, which are considered Level 2 fair value measurements.  Our 7.00% senior secured notes due 2028 were carried at a cost of $397.6 million at June 30, 2025 and $397.2 million at December 31, 2024. The fair value of the senior secured notes due 2028, as determined with the assistance of an independent pricing platform using real-time trade data, was approximately $401.0 million and $390.0 million, at June 30, 2025 and December 31, 2024, respectively, which was determined to be a Level 2 fair value measurement.
Supplier Financing Program
Supplier Financing Program
A subsidiary of Titan participates in supplier financing programs pursuant to credit agreements between certain suppliers and financial institutions. The program enables those suppliers to receive payment from participating financial institutions prior to the payment date specified in the terms between Titan and the supplier. Titan does not incur annual service fees associated with its enrollment in the supplier financing program. The transactions are at the sole discretion of both the suppliers and the financial institution, and Titan is not a party to the agreement and has no economic interest in the supplier's decision to receive payment prior to the payment date. The terms between Titan and a supplier, including the amount due and scheduled payment dates, are not impacted by a supplier's participation in the program. Amounts due to suppliers who participate in the program are included in the accounts payable line item in Titan's consolidated balance sheets, and Titan’s payments made under the program are reflected in cash flows from operating activities in Titan's consolidated statements of cash flows. For suppliers who participate in a supplier financing program, Titan will pay the financial institution directly rather than the supplier.
New Accounting Pronouncements to be Adopted in Future Periods
New Accounting Pronouncements to be Adopted in Future Periods
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, may be applied prospectively or retrospectively, and allows for early adoption. The Company plans to adopt this guidance on its consolidated financial statements and related disclosures for the annual period ending December 31, 2025 and we are currently evaluating the impact of the adoption.

In November 2024, FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires additional disclosure about the specific expense categories in the notes to financial statements for interim and annual reporting periods. The amendments in this ASU do not change or remove current expense disclosure requirements but affect where this information appears in the notes to financial statements. This ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. We are currently evaluating the impact that ASU 2024-03 will have on our consolidated financial statements.
v3.25.2
BUSINESS COMBINATION (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition
On February 29, 2024, we acquired 100% of the equity interests of The Carlstar Group, LLC (Carlstar, now also known as Titan Specialty) for the following purchase consideration, subject to a working capital adjustment based on an agreed upon working capital target (amounts in thousands):
Purchase Consideration
Titan International, Inc. common stock$168,693 
Base cash consideration, net of cash acquired of $10,288
127,500 
$296,193 
Additional cash consideration for excess net working capital acquired19,759 
Other debt-like items(3,616)
Total purchase consideration, net of cash acquired$312,336 
Schedule of Assets and Liabilities of Purchase Price Consideration
The following table summarizes the final allocation of purchase price consideration to the major classes of assets and liabilities as of February 29, 2024 (amounts in thousands):
Final Purchase Price Allocation
Accounts receivable$92,043 
Inventories150,900 
Prepaid and other current assets13,339 
Property, plant, and equipment115,090 
Other long-term assets111,864 
Goodwill29,563 
Intangible assets11,500 
Fair value of assets acquired$524,299 
Accounts payable$66,055 
Other current liabilities28,377 
Operating leases108,249 
Deferred tax liabilities7,773 
Other long-term liabilities1,509 
Fair value of liabilities assumed$211,963 
Purchase price$312,336 
Schedule of Goodwill The carrying value of goodwill by reportable segment as of June 30, 2025 and December 31, 2024 was as follows:
 Carrying Value
Agricultural$4,844 
Earthmoving/construction— 
Consumer24,719 
Total$29,563 
Schedule of Carrying Amounts and Weighted Average Lives of the Acquired Intangible Assets
Schedule of Business Acquisition, Pro Forma Information
Through June 30, 2024, the actual revenue and income before taxes of Titan Specialty since the acquisition date of February 29, 2024 included in the consolidated statement of operations is as shown below (amounts in thousands). The net income includes the effect of fair value adjustments for the amortization of inventory, intangible assets, and depreciation of property, plant and equipment.
 
From Acquisition Date to
June 30, 2024
Titan Specialty revenue
$187,610 
Titan Specialty income before taxes
8,084 

The following is the unaudited pro forma financial information for the three and six months ended June 30, 2024 that reflects our results of our operations as if the acquisition of Titan Specialty had been completed on January 1, 2023. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2023, nor is it indicative of the future consolidated results of operations or financial position of the combined companies (amounts in thousands, except per share data).

Three months endedSix months ended
June 30, 2024June 30, 2024
Pro forma revenues$532,170 $1,116,197 
Pro forma net income10,752 36,197 
Net income per common share, basic$0.15 $0.50 
Net income per common share, diluted0.14 0.49 
v3.25.2
ACCOUNTS RECEIVABLE, NET (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Accounts Receivable
Accounts receivable consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024		June 30,
2024
Accounts receivable$299,277 $214,952 $323,609 
Allowance for credit losses(2,001)(3,232)(6,970)
Accounts receivable, net$297,276 $211,720 $316,639 
Schedule of Allowance for Credit Loss
Changes in the allowance for credit losses during the six months ended June 30, 2025 and 2024, respectively, consisted of the following (amounts in thousands):
 20252024
Balance at January 1,$3,232 $5,340 
Provision charged to expense21 112 
Recoveries of accounts receivable— (743)
Other, including foreign currency translation and acquisition related activity(1,252)2,261 
Balance at June 30,$2,001 $6,970 
v3.25.2
INVENTORIES (Tables)
 6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventories consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Raw material$111,958 $103,616 
Work-in-process49,775 41,898 
Finished goods315,991 291,678 
 $477,724 $437,192 
v3.25.2
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, plant and equipment, net consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Land and improvements$47,744 $42,534 
Buildings and improvements283,998 260,256 
Machinery and equipment762,344 703,899 
Tools, dies and molds121,306 118,569 
Construction-in-process46,095 46,997 
 1,261,487 1,172,255 
Less accumulated depreciation(809,586)(751,037)
 $451,901 $421,218 
v3.25.2
INTANGIBLE ASSETS, NET (Tables)
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets, Net
The components of intangible assets, net consisted of the following (amounts in thousands):
June 30, 2025
Weighted- Average
Useful Lives
(in Years)		Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortizable intangible assets:
Customer lists/relationships12.50$6,000 $(640)$5,360 
Trade names10.005,500 (733)4,767 
Other intangibles15.203,663 (2,377)1,286 
Total$15,163 $(3,750)$11,413 

December 31, 2024
Weighted- Average
Useful Lives
(in Years)		Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortizable intangible assets:
Customer lists/relationships12.50$6,000 $(400)$5,600 
Trade names10.005,500 (458)5,042 
Other intangibles15.523,523 (2,180)1,343 
Total$15,023 $(3,038)$11,985 
Schedule of Aggregate Amortization Expense
The estimated aggregate amortization expense at June 30, 2025, for each of the years (or other periods) set forth below was as follows (amounts in thousands):
July 1 - December 31, 2025$644 
20261,287 
20271,226 
20281,153 
20291,153 
Thereafter5,950 
 $11,413 
v3.25.2
OTHER CURRENT LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Other Liabilities, Current [Abstract]  
Schedule of Other Current Liabilities
Other current liabilities consisted of the following (amounts in thousands):
 June 30,
2025		December 31,
2024
Compensation and benefits$54,348 $47,735 
Warranty13,296 12,571 
Accrued insurance benefits18,814 20,218 
Customer rebates and deposits14,226 15,004 
Accrued other taxes11,793 12,142 
Accrued interest5,614 5,646 
Foreign government grant (1)
3,936 3,672 
Other22,221 26,306 
 $144,248 $143,294 
(1) We received government subsidies in 2023 associated with capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidies is used to offset existing payables to governmental entities in the future. In addition, during August 2014, we received an approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of its Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant.
v3.25.2
WARRANTY (Tables)
 6 Months Ended
Jun. 30, 2025
Product Warranties Disclosures [Abstract]  
Schedule of Product Warranty Liability
Changes in the warranty liability during the six months ended June 30, 2025 and 2024, respectively, consisted of the following (amounts in thousands):
 20252024
Warranty liability at beginning of the period$22,392 $21,710 
Provision for warranty liabilities6,397 9,751 
Warranty payments made(5,017)(9,120)
   Other adjustments, including acquisition of Titan Specialty— 1,784 
Warranty liability at end of the period$23,772 $24,125 
v3.25.2
DEBT (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt consisted of the following (amounts in thousands):
June 30, 2025
Principal BalanceUnamortized Debt IssuanceNet Carrying Amount
7.00% senior secured notes due 2028
$400,000 $(2,419)$397,581 
Revolving credit facility159,000 — 159,000 
Titan Europe credit facilities19,157 — 19,157 
Other debt9,929 — 9,929 
     Total debt588,086 (2,419)585,667 
Less amounts due within one year19,795 — 19,795 
     Total long-term debt$568,291 $(2,419)$565,872 
December 31, 2024
Principal BalanceUnamortized Debt IssuanceNet Carrying Amount
7.00% senior secured notes due 2028
$400,000 $(2,847)$397,153 
Revolving credit facility146,000 — 146,000 
Titan Europe credit facilities15,199 — 15,199 
Other debt7,093 — 7,093 
     Total debt568,292 (2,847)565,445 
Less amounts due within one year12,479 — 12,479 
     Total long-term debt$555,813 $(2,847)$552,966 
Schedule of Maturities of Long-term Debt
Aggregate principal maturities of debt at June 30, 2025 for each of the years (or other periods) set forth below were as follows (amounts in thousands):
July 1 - December 31, 2025$13,125 
202610,389 
20272,129 
2028559,602 
2029597 
Thereafter2,244 
 $588,086 
v3.25.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows (amounts in thousands):
Balance Sheet ClassificationJune 30,
2025		December 31,
2024
Operating lease ROU assetsOperating lease assets$125,125 $117,027 
Operating lease current liabilitiesOperating leases current liabilities11,784 11,999 
Operating lease long-term liabilitiesOperating leases long-term liabilities116,593 106,020 
    Total operating lease liabilities$128,377 $118,019 
Finance lease, grossProperty, plant & equipment, net$8,396 $6,801 
Finance lease accumulated depreciationProperty, plant & equipment, net(4,918)(4,442)
   Finance lease, net$3,478 $2,359 
Finance lease current liabilitiesOther current liabilities$1,492 $986 
Finance lease long-term liabilitiesOther long-term liabilities2,157 1,483 
   Total finance lease liabilities$3,649 $2,469 
Schedule of Maturities of Operating Lease Liabilities
At June 30, 2025, maturities of lease liabilities were as follows (amounts in thousands):
Operating
Leases		Finance
Leases
July 1 - December 31, 2025$12,345 $909 
202621,293 1,475 
202718,591 1,032 
202816,666 508 
202915,721 123 
Thereafter121,636 82 
Total lease payments$206,252 $4,129 
Less imputed interest77,875 480 
$128,377 $3,649 
Weighted average remaining lease term (in years)12.572.93
Weighted average discount rate 7.27 %7.27 %
Schedule of Maturities of Finance Lease Liabilities
At June 30, 2025, maturities of lease liabilities were as follows (amounts in thousands):
Operating
Leases		Finance
Leases
July 1 - December 31, 2025$12,345 $909 
202621,293 1,475 
202718,591 1,032 
202816,666 508 
202915,721 123 
Thereafter121,636 82 
Total lease payments$206,252 $4,129 
Less imputed interest77,875 480 
$128,377 $3,649 
Weighted average remaining lease term (in years)12.572.93
Weighted average discount rate 7.27 %7.27 %
v3.25.2
EMPLOYEE BENEFIT PLANS (Tables)
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Pension Cost
The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):

Three months endedSix months ended
June 30,June 30,
2025202420252024
Service cost$129 $204 $290 $366 
Interest cost936 951 1,881 1,903 
Expected return on assets(1,385)(1,301)(2,714)(2,602)
Amortization of unrecognized prior service cost(15)(14)(29)(30)
Amortization of net unrecognized loss 14 68 32 136 
   Net periodic pension benefit$(321)$(92)$(540)$(227)
v3.25.2
VARIABLE INTEREST ENTITIES (Tables)
 6 Months Ended
Jun. 30, 2025
Variable Interest Entity, Measure of Activity [Abstract]  
Schedule of Non Consolidated Variable Interest Entities The assets and liabilities recognized in Titan's condensed consolidated balance sheets related to our interest in these non-consolidated VIEs and our maximum exposure to loss relating to non-consolidated VIEs as of the dates set forth below were as follows (amounts in thousands):
 June 30,
2025		December 31,
2024
Investments$10,233 $7,919 
     Total VIE assets10,233 7,919 
Accounts payable to the non-consolidated VIEs1,656 2,646 
  Maximum exposure to loss$11,889 $10,565 
v3.25.2
OTHER INCOME (Tables)
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income
Other income consisted of the following (amounts in thousands):
Three months endedSix months ended
June 30,June 30,
 2025202420252024
Gain on property insurance settlement (1)
$— $1,913 $— $1,913 
Equity investment income230 241 404 568 
Gain (loss) on sale of assets2 413 (38)388 
Pension plan income526 405 1,053 810 
Other income382 305 855 3 
 $1,140 $3,277 $2,274 $3,682 
(1) The gain on property insurance settlement relates to the receipt of insurance proceeds of $3.5 million offset by costs to repair one of our operating facilities in Italy related to a 2023 hail storm weather event.
v3.25.2
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
(Loss) earnings per share (EPS) were as follows (amounts in thousands, except per share data):
Three months endedSix months ended
June 30,June 30,
2025202420252024
Net (loss) income attributable to Titan and applicable to common shareholders$(4,545)$2,149 $(5,194)$11,350 
Determination of shares:
   Weighted average shares outstanding (basic)63,722 72,737 63,504 68,833 
   Effect of restricted stock and stock options— 341 — 528 
   Weighted average shares outstanding (diluted)63,722 73,078 63,504 69,361 
(Loss) earnings per common share:
Basic$(0.07)$0.03 $(0.08)$0.16 
Diluted$(0.07)$0.03 $(0.08)$0.16 
v3.25.2
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The table below presents information about certain operating results, separated by market segments, for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):

Three months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$193,223 $152,347 $115,260 $— $460,830 
Cost of sales164,943 134,873 91,741 — 391,557 
Gross profit$28,280 $17,474 $23,519 $— $69,273 
Selling, general and administrative expenses13,871 12,494 18,916 7,072 52,353 
Research and development expenses1,329 1,652 915 445 4,341 
Royalty expense1,627 334 458 — 2,419 
Segment profit (loss)$11,453 $2,994 $3,230 $(7,517)$10,160 
Interest expense(9,673)(9,673)
Interest income2,455 2,455 
Foreign exchange loss(2,995)(2,995)
Other income1,140 1,140 
(Loss) income before income taxes$(16,590)$1,087 


Six months ended June 30, 2025
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$390,969 $295,637 $264,932 $— $951,538 
Cost of sales338,202 263,270 212,149 — 813,621 
Gross profit$52,767 $32,367 $52,783 $— $137,917 
Selling, general and administrative expenses25,945 23,515 38,003 14,745 102,208 
Research and development expenses2,683 3,501 1,803 898 8,885 
Royalty expense3,244 681 940 — 4,865 
Segment profit (loss)$20,895 $4,670 $12,037 $(15,643)$21,959 
Interest expense(19,208)(19,208)
Interest income4,694 4,694 
Foreign exchange loss(4,380)(4,380)
Other income2,274 2,274 
(Loss) income before income taxes$(32,263)$5,339 
Three months ended June 30, 2024
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$216,330 $165,564 $150,276 $— $532,170 
Cost of sales184,027 144,265 123,436 — 451,728 
Gross profit$32,303 $21,299 $26,840 $— $80,442 
Selling, general and administrative expenses13,927 12,121 18,997 6,538 51,583 
Research and development expenses1,162 1,814 834 408 4,218 
Royalty expense1,442 317 560 — 2,319 
Segment profit (loss)$15,772 $7,047 $6,449 $(6,946)$22,322 
Interest expense(9,732)(9,732)
Interest income2,545 2,545 
Foreign exchange gain462 462 
Other income3,277 3,277 
(Loss) income before income taxes$(10,394)$18,874 


Six months ended June 30, 2024
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$456,003 $330,772 $227,604 $— $1,014,379 
Cost of sales383,081 286,496 186,990 — 856,567 
Gross profit$72,922 $44,276 $40,614 $— $157,812 
Selling, general and administrative expenses27,321 24,077 26,800 12,805 91,003 
Acquisition related expenses— — — 6,196 6,196 
Research and development expenses2,392 3,480 1,170 830 7,872 
Royalty expense3,427 838 1,082 — 5,347 
Segment profit (loss)$39,782 $15,881 $11,562 $(19,831)$47,394 
Interest expense(18,099)(18,099)
Interest income5,420 5,420 
Foreign exchange gain187 187 
Other income3,682 3,682 
(Loss) income before income taxes$(28,641)$38,584 
Schedule of Reconciliation of Revenue from Segments to Consolidated
The table below presents net sales by products and reportable segments for the three and six months ended June 30, 2025 and 2024 (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2025
Wheels and Tires [including assemblies]$182,858 $54,138 $107,561 $344,557 
Undercarriage systems and components10,365 98,209 7,699 116,273 
 Total$193,223 $152,347 $115,260 $460,830 
Six months ended June 30, 2025
Wheels and Tires [including assemblies]$371,225 $108,551 $249,736 $729,512 
Undercarriage systems and components19,744 187,086 15,196 222,026 
Total$390,969 $295,637 $264,932 $951,538 

AgriculturalEarthmoving/ConstructionConsumerTotal
Three months ended June 30, 2024
Wheels and Tires [including assemblies]$205,709 $59,352 $142,230 $407,291 
Undercarriage systems and components10,621 106,212 8,046 124,879 
 Total$216,330 $165,564 $150,276 $532,170 
Six months ended June 30, 2024
Wheels and Tires [including assemblies]$434,743 $125,597 $213,584 $773,924 
Undercarriage systems and components21,260 205,175 14,020 240,455 
Total$456,003 $330,772 $227,604 $1,014,379 
Segment, Reconciliation of Other Items from Segments to Consolidated
Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):
AgriculturalEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Three months ended June 30, 2025$6,740 $5,314 $4,021 $548 $16,623 
Six months ended June 30, 202512,898 9,777 8,682 1,137 32,494 
Three months ended June 30, 20246,042 4,623 4,196 561 15,422 
Six months ended June 30, 202411,750 8,558 6,038 1,077 27,423 
v3.25.2
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive (Loss) Income
Accumulated other comprehensive (loss) income consisted of the following (amounts in thousands):
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at April 1, 2025$(250,404)$497 $3,386 $(246,521)
Currency translation adjustments39,012 — — 39,012 
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (25)(25)
Derivative loss— (43)— (43)
Balance at June 30, 2025$(211,392)$454 $3,361 $(207,577)
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at January 1, 2025$(289,678)$505 $3,296 $(285,877)
Currency translation adjustments78,286 — — 78,286 
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — 65 65 
Derivative loss— (51)— (51)
Balance at June 30, 2025$(211,392)$454 $3,361 $(207,577)

 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at April 1, 2024$(231,487)$742 $(2,180)$(232,925)
Currency translation adjustments(18,576)— — (18,576)
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (161)(161)
Derivative loss— (74)— (74)
Balance at June 30, 2024$(250,063)$668 $(2,341)$(251,736)
 Currency
Translation
Adjustments		Gain (Loss) on
Derivatives		Unrecognized
Losses and
Prior Service
Cost
 
 
Total
Balance at January 1, 2024$(217,455)$740 $(2,328)$(219,043)
Currency translation adjustments, net(32,608)— — (32,608)
Defined benefit pension plans:
Amortization of unrecognized losses and prior service cost, net of tax— — (13)(13)
Derivative loss— (72)— (72)
Balance at June 30, 2024$(250,063)$668 $(2,341)$(251,736)
v3.25.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 6 Months Ended
Dec. 16, 2022
USD ($)
Mar. 31, 2022
Jul. 31, 2018
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
shares
Mar. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
shares
Jun. 30, 2024
USD ($)
shares
Dec. 31, 2024
USD ($)
Apr. 22, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Investments in marketable equity securities       $ 1,900     $ 1,900   $ 5,300  
Debt instrument interest rate stated percentage (in percent)       7.00%     7.00%   7.00% 7.00%
Aggregate principal amount       $ 588,086     $ 588,086      
Net monetary loss       $ 1,300 $ 400   $ (2,300) $ 1,600    
Consolidated assets (in percent)       7.00%     7.00%   5.00%  
Consolidated sales (in percent)       5.00% 4.00%   4.00% 5.00%    
Stock repurchase program, authorized amount $ 50,000                  
Stock repurchased (in shares) | shares         775,000   0 875,000    
Stock repurchase amount         $ 6,360 $ 1,402   $ 7,800    
Stock repurchase program, remaining authorized repurchase amount       $ 1,000     $ 1,000      
Supplier finance program obligation       $ 13,500     $ 13,500   $ 13,200  
Maximum                    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Stock repurchase program, period in force (in years) 3 years                  
Voltyre-Prom                    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Ownership percentage by parent (in percent)       64.30%     64.30%      
ARGENTINA                    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Cumulative period for rate of inflation (in years)     3 years              
Percentage of Inflation     1              
TÜRKIYE                    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Cumulative period for rate of inflation (in years)   3 years                
Percentage of Inflation   1                
7.00% senior secured notes due 2028                    
New Accounting Pronouncements or Change in Accounting Principle [Line Items]                    
Debt instrument interest rate stated percentage (in percent)       7.00%     7.00%      
Aggregate principal amount       $ 397,581     $ 397,581   397,153  
Fair value of the senior secured notes       $ 401,000     $ 401,000   $ 390,000  
v3.25.2
BUSINESS COMBINATION - Narrative (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Feb. 29, 2024
facility
country
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]          
Total acquisition-related costs   $ 0 $ 0 $ 0 $ 6,196
The Carlstar Group, LLC          
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]          
Number of facilities | facility 17        
Number of countries facilities are located | country 4        
The Carlstar Group, LLC          
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]          
Percentage of equity interests (in percent) 100.00%        
Total acquisition-related costs         $ 6,200
v3.25.2
BUSINESS COMBINATION - Working Capital Adjustment (Details) - The Carlstar Group, LLC
$ in Thousands
Feb. 29, 2024
USD ($)
Business Acquisition [Line Items]  
Titan International, Inc. common stock $ 168,693
Base cash consideration, net of cash acquired of $10,288 127,500
Business combination, price of acquisition, expected 296,193
Additional cash consideration for excess net working capital acquired 19,759
Other debt-like items (3,616)
Total purchase consideration, net of cash acquired 312,336
Cash Acquired from Acquisition $ 10,288
v3.25.2
BUSINESS COMBINATION - Goodwill by Operating Segment (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Business Combination Segment Allocation [Line Items]    
Goodwill $ 29,563 $ 29,563
Operating Segments    
Business Combination Segment Allocation [Line Items]    
Goodwill 29,563  
Operating Segments | Agricultural    
Business Combination Segment Allocation [Line Items]    
Goodwill 4,844  
Operating Segments | Earthmoving/construction    
Business Combination Segment Allocation [Line Items]    
Goodwill 0  
Operating Segments | Consumer    
Business Combination Segment Allocation [Line Items]    
Goodwill $ 24,719  
v3.25.2
BUSINESS COMBINATION - Assets and Liabilities of Purchase Price Consideration (Details) - USD ($)
$ in Thousands
Feb. 29, 2024
Jun. 30, 2025
Dec. 31, 2024
Business Acquisition [Line Items]      
Goodwill   $ 29,563 $ 29,563
The Carlstar Group, LLC      
Business Acquisition [Line Items]      
Accounts receivable $ 92,043    
Inventories 150,900    
Prepaid and other current assets 13,339    
Property, plant, and equipment 115,090    
Other long-term assets 111,864    
Goodwill 29,563    
Intangible assets 11,500    
Fair value of assets acquired 524,299    
Accounts payable 66,055    
Other current liabilities 28,377    
Operating leases 108,249    
Deferred tax liabilities 7,773    
Other long-term liabilities 1,509    
Fair value of liabilities assumed 211,963    
Purchase price $ 312,336    
v3.25.2
BUSINESS COMBINATION - Actual Revenue and Net Income (Details) - The Carlstar Group, LLC
$ in Thousands
 4 Months Ended
Jun. 30, 2024
USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]  
Titan Specialty revenue $ 187,610
Titan Specialty income before taxes $ 8,084
v3.25.2
BUSINESS COMBINATION - Proforma Financial Information (Details) - The Carlstar Group, LLC - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2024
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]    
Pro forma revenues $ 532,170 $ 1,116,197
Pro forma net income $ 10,752 $ 36,197
Net income per common share, basic (in dollars per share) $ 0.15 $ 0.50
Net income per common share, diluted (in dollars per share) $ 0.14 $ 0.49
v3.25.2
ACCOUNTS RECEIVABLE, NET - Accounts Receivable (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Receivables [Abstract]        
Accounts receivable $ 299,277 $ 214,952 $ 323,609  
Allowance for credit losses (2,001) (3,232) (6,970) $ (5,340)
Accounts receivable, net $ 297,276 $ 211,720 $ 316,639  
v3.25.2
ACCOUNTS RECEIVABLE, NET - Allowance for Credit Loss (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at January 1, $ 3,232 $ 5,340
Provision charged to expense 21 112
Recoveries of accounts receivable 0  
Recoveries of accounts receivable   (743)
Other, including foreign currency translation and acquisition related activity (1,252) 2,261
Balance at June 30, $ 2,001 $ 6,970
v3.25.2
INVENTORIES (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Raw material $ 111,958 $ 103,616
Work-in-process 49,775 41,898
Finished goods 315,991 291,678
Total inventory $ 477,724 $ 437,192
v3.25.2
PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross $ 1,261,487   $ 1,261,487   $ 1,172,255
Less accumulated depreciation (809,586)   (809,586)   (751,037)
Property, plant and equipment, net 451,901   451,901   421,218
Depreciation 15,000 $ 14,300 29,100 $ 25,900  
Land and improvements          
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross 47,744   47,744   42,534
Buildings and improvements          
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross 283,998   283,998   260,256
Machinery and equipment          
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross 762,344   762,344   703,899
Tools, dies and molds          
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross 121,306   121,306   118,569
Construction-in-process          
Property, Plant and Equipment [Line Items]          
Property, plant and equipment, gross $ 46,095   $ 46,095   $ 46,997
v3.25.2
INTANGIBLE ASSETS, NET - Components of Intangible Assets, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]          
Gross Carrying Amount $ 15,163   $ 15,163   $ 15,023
Accumulated Amortization (3,750)   (3,750)   (3,038)
Total 11,413   11,413   $ 11,985
Amortization related to intangible assets $ 300 $ 900 $ 600 $ 1,100  
Customer lists/relationships          
Finite-Lived Intangible Assets [Line Items]          
Weighted- Average Useful Lives (in Years) 12 years 6 months   12 years 6 months   12 years 6 months
Gross Carrying Amount $ 6,000   $ 6,000   $ 6,000
Accumulated Amortization (640)   (640)   (400)
Total $ 5,360   $ 5,360   $ 5,600
Trade names          
Finite-Lived Intangible Assets [Line Items]          
Weighted- Average Useful Lives (in Years) 10 years   10 years   10 years
Gross Carrying Amount $ 5,500   $ 5,500   $ 5,500
Accumulated Amortization (733)   (733)   (458)
Total $ 4,767   $ 4,767   $ 5,042
Other intangibles          
Finite-Lived Intangible Assets [Line Items]          
Weighted- Average Useful Lives (in Years) 15 years 2 months 12 days   15 years 2 months 12 days   15 years 6 months 7 days
Gross Carrying Amount $ 3,663   $ 3,663   $ 3,523
Accumulated Amortization (2,377)   (2,377)   (2,180)
Total $ 1,286   $ 1,286   $ 1,343
v3.25.2
INTANGIBLE ASSETS, NET - Aggregate Amortization Expense (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
July 1 - December 31, 2025 $ 644  
2026 1,287  
2027 1,226  
2028 1,153  
2029 1,153  
Thereafter 5,950  
Total $ 11,413 $ 11,985
v3.25.2
OTHER CURRENT LIABILITIES (Details) - USD ($)
$ in Thousands
 1 Months Ended
Aug. 31, 2014
Jun. 30, 2025
Dec. 31, 2024
Other Liabilities, Current [Abstract]      
Compensation and benefits   $ 54,348 $ 47,735
Warranty   13,296 12,571
Accrued insurance benefits   18,814 20,218
Customer rebates and deposits   14,226 15,004
Accrued other taxes   11,793 12,142
Accrued interest   5,614 5,646
Foreign government grant   3,936 3,672
Other   22,221 26,306
Total   $ 144,248 $ 143,294
Capital grant from the Italian government $ 17,000    
v3.25.2
WARRANTY - Product Warranty Liability (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Product Warranty Liability [Roll Forward]    
Warranty liability at beginning of the period $ 22,392 $ 21,710
Provision for warranty liabilities 6,397 9,751
Warranty payments made (5,017) (9,120)
Other adjustments, including acquisition of Titan Specialty 0 1,784
Warranty liability at end of the period $ 23,772 $ 24,125
v3.25.2
WARRANTY - Narrative (Details)
Jun. 30, 2025
Minimum  
Product Warranty Liability [Line Items]  
Warranty term (in years) 1 year
Maximum  
Product Warranty Liability [Line Items]  
Warranty term (in years) 10 years
v3.25.2
DEBT - Long-term Debt Instruments (Details) - USD ($)
$ in Thousands
 6 Months Ended
Feb. 29, 2024
Jun. 30, 2025
Dec. 31, 2024
Apr. 22, 2021
Debt Instrument [Line Items]        
Revolving credit facility   $ 159,000 $ 146,000  
Less amounts due within one year   19,795 12,479  
Debt instrument, unamortized discount   (2,419) (2,847)  
Debt instrument, unamortized discount, current   0 0  
Debt instrument, unamortized discount (premium), net   (2,419) (2,847)  
Long-term debt   588,086    
Total debt   585,667 565,445  
Total long-term debt   $ 565,872 $ 552,966  
Debt instrument interest rate stated percentage (in percent)   7.00% 7.00% 7.00%
Debt instrument term (in years) 5 years      
Long-term Debt        
Debt Instrument [Line Items]        
Total debt   $ 588,086 $ 568,292  
Long-Term Debt, Gross   568,291 555,813  
7.00% senior secured notes due 2028        
Debt Instrument [Line Items]        
7.00% senior secured notes due 2028   400,000 400,000 $ 400,000
Debt instrument, unamortized discount   (2,419) (2,847)  
Long-term debt   $ 397,581 397,153  
Debt instrument interest rate stated percentage (in percent)   7.00%    
Line of Credit        
Debt Instrument [Line Items]        
Revolving credit facility   $ 159,000 146,000  
Debt instrument, unamortized discount   0    
Debt instrument, unamortized discount, noncurrent     0  
Debt instrument term (in years) 91 days      
Titan Europe credit facilities        
Debt Instrument [Line Items]        
Titan Europe credit facilities   19,157 15,199  
Debt instrument, unamortized discount, noncurrent   $ 0 0  
Titan Europe credit facilities | Minimum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   0.50%    
Debt instrument term (in years)   1 year    
Other debt        
Debt Instrument [Line Items]        
Other debt   $ 9,929 7,093  
Debt instrument, unamortized discount, noncurrent   $ 0 $ 0  
Other debt | Minimum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   5.00% 6.90%  
Debt instrument term (in years)   1 year    
v3.25.2
DEBT - Narrative (Details)
$ in Thousands
 6 Months Ended
Feb. 29, 2024
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Apr. 22, 2021
USD ($)
Debt Instrument [Line Items]        
Weighted-average interest rates on short-term borrowings (in percent)   3.30% 4.10%  
Debt instrument interest rate stated percentage (in percent)   7.00% 7.00% 7.00%
Debt instrument, interest rate, effective percentage (in percent)       7.27%
Debt instrument term (in years) 5 years      
Line of credit facility $ 225,000 $ 199,700 $ 177,100  
Bridge loan 20,000      
Letters of Credit, Maximum Capacity 50,000      
Line of credit facility maximum expansion 50,000      
Line of credit facility, interest rate (in percent)   6.30%    
Outstanding letters of credit   $ 5,900 9,900  
Revolving credit facility   159,000 146,000  
Borrowing under the new credit facility   34,800 21,200  
7.00% senior secured notes due 2028        
Debt Instrument [Line Items]        
Aggregate principal amount   $ 400,000 400,000 $ 400,000
Debt instrument interest rate stated percentage (in percent)   7.00%    
Titan Europe credit facilities        
Debt Instrument [Line Items]        
Other borrowings   $ 19,157 15,199  
Titan Europe credit facilities | Minimum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   0.50%    
Debt instrument term (in years)   1 year    
Titan Europe credit facilities | Maximum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   6.50%    
Debt instrument term (in years)   5 years    
Other debt        
Debt Instrument [Line Items]        
Other debt   $ 9,929 $ 7,093  
Other debt | Minimum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   5.00% 6.90%  
Debt instrument term (in years)   1 year    
Other debt | Maximum        
Debt Instrument [Line Items]        
Debt instrument interest rate stated percentage (in percent)   6.90% 7.60%  
Debt instrument term (in years)   2 years    
Titan Brazil        
Debt Instrument [Line Items]        
Other debt   $ 9,900 $ 7,100  
Credit Agreement | Revolving Credit Facility        
Debt Instrument [Line Items]        
Borrowing under the new credit facility $ 17,000      
Credit Agreement | Minimum        
Debt Instrument [Line Items]        
Fixed Charge Coverage Ratio 1.0      
Credit Agreement | Maximum        
Debt Instrument [Line Items]        
Line of Credit Facility, Commitment Fee Percentage 10.00%      
Line of Credit        
Debt Instrument [Line Items]        
Debt instrument term (in years) 91 days      
Revolving credit facility   $ 159,000 $ 146,000  
v3.25.2
DEBT - Maturities of Long-term Debt (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Debt Disclosure [Abstract]  
July 1 - December 31, 2025 $ 13,125
2026 10,389
2027 2,129
2028 559,602
2029 597
Thereafter 2,244
Long-term debt $ 588,086
v3.25.2
LEASES - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Apr. 22, 2021
Leases [Abstract]      
Debt instrument, interest rate, effective percentage (in percent)     7.27%
Operating cash flows from operating leases $ 5.2 $ 4.5  
v3.25.2
LEASES - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease ROU assets $ 125,125 $ 117,027
Operating lease current liabilities 11,784 11,999
Operating lease long-term liabilities 116,593 106,020
Total operating lease liabilities 128,377 118,019
Finance lease, gross 8,396 6,801
Finance lease accumulated depreciation (4,918) (4,442)
Finance lease, net 3,478 2,359
Finance lease current liabilities 1,492 986
Finance lease long-term liabilities 2,157 1,483
Total finance lease liabilities $ 3,649 $ 2,469
v3.25.2
LEASES - Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Operating Leases    
July 1 - December 31, 2025 $ 12,345  
2026 21,293  
2027 18,591  
2028 16,666  
2029 15,721  
Thereafter 121,636  
Total lease payments 206,252  
Less imputed interest 77,875  
Operating lease liability 128,377 $ 118,019
Finance Leases    
July 1 - December 31, 2025 909  
2026 1,475  
2027 1,032  
2028 508  
2029 123  
Thereafter 82  
Total lease payments 4,129  
Less imputed interest 480  
Finance lease liability $ 3,649 $ 2,469
Operating lease, weighted average remaining lease term (in years) 12 years 6 months 25 days  
Finance lease, weighted average remaining lease term (in years) 2 years 11 months 4 days  
Operating Lease, Weighted Average Discount Rate, Percent 7.27%  
Finance Lease, Weighted Average Discount Rate, Percent 7.27%  
v3.25.2
EMPLOYEE BENEFIT PLANS - Narrative (Details)
$ in Millions
 6 Months Ended
Jun. 30, 2025
USD ($)
plan
Retirement Benefits [Abstract]  
Number of frozen plans | plan 3
Number of subsidiaries with frozen plans | plan 3
Contributions by employer | $ $ 0.2
Estimated future employer contributions | $ $ 0.1
v3.25.2
EMPLOYEE BENEFIT PLANS - Components of Net Periodic Pension Cost (Details) - Pension Plan - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 129 $ 204 $ 290 $ 366
Interest cost 936 951 1,881 1,903
Expected return on assets (1,385) (1,301) (2,714) (2,602)
Amortization of unrecognized prior service cost (15) (14) (29) (30)
Amortization of net unrecognized loss 14 68 32 136
Net periodic pension benefit $ (321) $ (92) $ (540) $ (227)
v3.25.2
VARIABLE INTEREST ENTITIES - Non Consolidated Variable Interest Entities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Variable Interest Entity [Line Items]    
Total assets $ 1,752,403 $ 1,584,953
Accounts payable 265,141 219,586
Non-Consolidated VIEs    
Variable Interest Entity [Line Items]    
Investments 10,233 7,919
Total assets 10,233 7,919
Accounts payable 1,656 2,646
  Maximum exposure to loss $ 11,889 $ 10,565
v3.25.2
ROYALTY EXPENSE (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Other Income and Expenses [Abstract]        
Royalty expenses $ 2,419 $ 2,319 $ 4,865 $ 5,347
v3.25.2
OTHER INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Other Income and Expenses [Abstract]        
Gain on property insurance settlement $ 0 $ 1,913 $ 0 $ 1,913
Equity investment income 230 241 404 568
Gain (loss) on sale of assets 2 413 (38) 388
Pension plan income 526 405 1,053 810
Other income 382 305 855 3
Total other income $ 1,140 3,277 $ 2,274 $ 3,682
Unusual or Infrequent Item, or Both, Insurance Proceeds   $ 3,500    
v3.25.2
INCOME TAXES (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Tax Disclosure [Abstract]        
Income tax expense $ 4,691 $ 15,452 $ 8,921 $ 25,188
Effective income tax rate (in percent) 431.60% 81.90% 167.10% 65.30%
Profit and loss positions (in years)     3 years  
v3.25.2
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Earnings Per Share [Abstract]        
Net (loss) income attributable to Titan and applicable to common shareholders $ (4,545) $ 2,149 $ (5,194) $ 11,350
Weighted average shares outstanding (basic) (in shares) 63,722 72,737 63,504 68,833
Effect of restricted stock and stock options (in shares)   341   528
Weighted average shares outstanding (diluted) (in shares) 63,722 73,078 63,504 69,361
Earnings per common share, basic (in dollars per share) $ (0.07) $ 0.03 $ (0.08) $ 0.16
Earnings per common share, diluted (in dollars per share) $ (0.07) $ 0.03 $ (0.08) $ 0.16
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 100   400  
v3.25.2
SEGMENT INFORMATION - Narrative (Details)
 6 Months Ended
Jun. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 3
v3.25.2
SEGMENT INFORMATION - Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 460,830 $ 532,170 $ 951,538 $ 1,014,379
Cost of sales 391,557 451,728 813,621 856,567
Gross profit 69,273 80,442 137,917 157,812
Selling, general and administrative expenses 52,353 51,583 102,208 91,003
Total acquisition-related costs 0 0 0 6,196
Research and development expenses 4,341 4,218 8,885 7,872
Royalty expense 2,419 2,319 4,865 5,347
Income from operations 10,160 22,322 21,959 47,394
Interest expense (9,673) (9,732) (19,208) (18,099)
Interest income 2,455 2,545 4,694 5,420
Foreign exchange loss (2,995) 462 (4,380) 187
Other income 1,140 3,277 2,274 3,682
Operating Segments        
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 460,830 532,170 951,538 1,014,379
Cost of sales 391,557 451,728 813,621 856,567
Gross profit 69,273 80,442 137,917 157,812
Selling, general and administrative expenses 52,353 51,583 102,208 91,003
Total acquisition-related costs       6,196
Research and development expenses 4,341 4,218 8,885 7,872
Royalty expense 2,419 2,319 4,865 5,347
Income from operations 10,160 22,322 21,959 47,394
Interest expense (9,673) (9,732) (19,208) (18,099)
Interest income 2,455 2,545 4,694 5,420
Foreign exchange loss (2,995) 462 (4,380) 187
Other income 1,140 3,277 2,274 3,682
(Loss) income before income taxes 1,087 18,874 5,339 38,584
Operating Segments | Agriculture        
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 193,223 216,330 390,969 456,003
Cost of sales 164,943 184,027 338,202 383,081
Gross profit 28,280 32,303 52,767 72,922
Selling, general and administrative expenses 13,871 13,927 25,945 27,321
Total acquisition-related costs       0
Research and development expenses 1,329 1,162 2,683 2,392
Royalty expense 1,627 1,442 3,244 3,427
Income from operations 11,453 15,772 20,895 39,782
Operating Segments | Earthmoving/Construction        
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 152,347 165,564 295,637 330,772
Cost of sales 134,873 144,265 263,270 286,496
Gross profit 17,474 21,299 32,367 44,276
Selling, general and administrative expenses 12,494 12,121 23,515 24,077
Total acquisition-related costs       0
Research and development expenses 1,652 1,814 3,501 3,480
Royalty expense 334 317 681 838
Income from operations 2,994 7,047 4,670 15,881
Operating Segments | Consumer        
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 115,260 150,276 264,932 227,604
Cost of sales 91,741 123,436 212,149 186,990
Gross profit 23,519 26,840 52,783 40,614
Selling, general and administrative expenses 18,916 18,997 38,003 26,800
Total acquisition-related costs       0
Research and development expenses 915 834 1,803 1,170
Royalty expense 458 560 940 1,082
Income from operations 3,230 6,449 12,037 11,562
Operating Segments | Corporate & Unallocated        
Segment Reporting Information [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 0 0 0 0
Cost of sales 0 0 0 0
Gross profit 0 0 0 0
Selling, general and administrative expenses 7,072 6,538 14,745 12,805
Total acquisition-related costs       6,196
Research and development expenses 445 408 898 830
Royalty expense 0 0 0 0
Income from operations (7,517) (6,946) (15,643) (19,831)
Interest expense (9,673)   (19,208) (18,099)
Interest income 2,455   4,694 5,420
Foreign exchange loss (2,995)   (4,380) 187
Other income 1,140   2,274 3,682
(Loss) income before income taxes $ (16,590) $ (10,394) $ (32,263) $ (28,641)
v3.25.2
SEGMENT INFORMATION - Revenue from Segments to Consolidated (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Net sales $ 460,830 $ 532,170 $ 951,538 $ 1,014,379
Operating Segments        
Segment Reporting Information [Line Items]        
Net sales 460,830 532,170 951,538 1,014,379
Operating Segments | Wheels and Tires [including assemblies]        
Segment Reporting Information [Line Items]        
Net sales 344,557 407,291 729,512 773,924
Operating Segments | Undercarriage systems and components        
Segment Reporting Information [Line Items]        
Net sales 116,273 124,879 222,026 240,455
Operating Segments | Agricultural        
Segment Reporting Information [Line Items]        
Net sales 193,223 216,330 390,969 456,003
Operating Segments | Agricultural | Wheels and Tires [including assemblies]        
Segment Reporting Information [Line Items]        
Net sales 182,858 205,709 371,225 434,743
Operating Segments | Agricultural | Undercarriage systems and components        
Segment Reporting Information [Line Items]        
Net sales 10,365 10,621 19,744 21,260
Operating Segments | Earthmoving/construction        
Segment Reporting Information [Line Items]        
Net sales 152,347 165,564 295,637 330,772
Operating Segments | Earthmoving/construction | Wheels and Tires [including assemblies]        
Segment Reporting Information [Line Items]        
Net sales 54,138 59,352 108,551 125,597
Operating Segments | Earthmoving/construction | Undercarriage systems and components        
Segment Reporting Information [Line Items]        
Net sales 98,209 106,212 187,086 205,175
Operating Segments | Consumer        
Segment Reporting Information [Line Items]        
Net sales 115,260 150,276 264,932 227,604
Operating Segments | Consumer | Wheels and Tires [including assemblies]        
Segment Reporting Information [Line Items]        
Net sales 107,561 142,230 249,736 213,584
Operating Segments | Consumer | Undercarriage systems and components        
Segment Reporting Information [Line Items]        
Net sales $ 7,699 $ 8,046 $ 15,196 $ 14,020
v3.25.2
SEGMENT INFORMATION - Reconciliation of Other Items from Segments to Consolidated (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization     $ 32,494 $ 27,423
Operating Segments        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization $ 16,623 $ 15,422 32,494 27,423
Operating Segments | Agricultural        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization 6,740 6,042 12,898 11,750
Operating Segments | Earthmoving/construction        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization 5,314 4,623 9,777 8,558
Operating Segments | Consumer        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization 4,021 4,196 8,682 6,038
Operating Segments | Corporate & Unallocated        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Depreciation and amortization $ 548 $ 561 $ 1,137 $ 1,077
v3.25.2
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Stockholders' Equity Note [Abstract]                
Currency Translation Adjustments $ (211,392) $ (250,063) $ (211,392) $ (250,063) $ (250,404) $ (289,678) $ (231,487) $ (217,455)
Currency translation adjustments 39,012 (18,576) 78,286 (32,608)        
Gain (Loss) on Derivatives 454 668 454 668 497 505 742 740
Gain (Loss) on Derivatives (43) (74) (51) (72)        
Unrecognized Losses and Prior Service Cost 3,361 (2,341) 3,361 (2,341) 3,386 3,296 (2,180) (2,328)
Amortization of unrecognized losses and prior service cost, net of tax (25) (161) 65 (13)        
Accumulated other comprehensive loss $ (207,577) $ (251,736) $ (207,577) $ (251,736) $ (246,521) $ (285,877) $ (232,925) $ (219,043)