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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Net sales $ 459,233 $ 404,447 $ 922,321 $ 685,276
Cost of sales 377,147 340,113 746,872 564,670
Gross profit 82,086 64,334 175,449 120,606
Selling, general & administrative expenses 23,410 16,573 54,245 41,866
Research and development expenses 1,189 1,014 2,697 2,197
Royalty expense 2,652 2,350 5,001 5,267
Supply agreement termination income (26,134) 0 (26,134) 0
Income from operations 80,969 44,397 139,640 71,276
Interest expense (6,217) (6,149) (12,512) (12,429)
Noncash convertible debt conversion charge 0 0 0 (16,135)
Other income 613 2,270 3,724 2,463
Income before income taxes 75,365 40,518 130,852 45,175
Provision for income taxes 31,040 14,962 51,133 22,655
Net income 44,325 25,556 79,719 22,520
Net income (loss) attributable to noncontrolling interests 269 (8) 244 (8)
Net income attributable to Titan $ 44,056 $ 25,564 $ 79,475 $ 22,528
Earnings (loss) per common share:        
Basic (in dollars per share) $ 1.05 $ 0.61 $ 1.89 $ 0.55
Diluted (in dollars per share) $ 0.84 $ 0.50 $ 1.53 $ 0.47
Average common shares outstanding:        
Basic (in shares) 42,158 41,981 42,132 41,250
Diluted (in shares) 53,516 53,394 53,492 53,229
Dividends declared per common share: $ 0.005 $ 0.005 $ 0.010 $ 0.010