XML 15 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net sales $ 1,468,922 $ 1,265,497 $ 1,394,771
Cost of sales 1,300,727 1,126,633 1,260,028
Asset impairment 9,917 0 0
Gross profit 158,278 138,864 134,743
Selling, general and administrative expenses 150,676 144,988 140,393
Research and development expenses 10,302 9,971 11,162
Royalty expense 10,484 8,856 10,533
Loss from operations (13,184) (24,951) (27,345)
Interest expense (30,229) (32,539) (34,032)
Loss on senior note repurchase (18,646) 0 0
Foreign exchange gain (loss) (1,958) 8,550 (4,758)
Other income 11,141 12,466 11,063
Loss before income taxes (52,876) (36,474) (55,072)
Provision for income taxes 11,203 3,281 34,756
Net loss (64,079) (39,755) (89,828)
Net loss attributable to noncontrolling interests 4,037 2,150 14,654
Net loss attributable to Titan (60,042) (37,605) (75,174)
Redemption value adjustment (6,393) (9,556) (17,668)
Net loss applicable to common shareholders $ (66,435) $ (47,161) $ (92,842)
Earnings (loss) per common share:      
Earnings Per Share, Basic $ (1.12) $ (0.87) $ (1.73)
Earnings Per Share, Diluted $ (1.12) $ (0.87) $ (1.73)
Average common shares outstanding:      
Basic 59,340 53,916 53,696
Diluted 59,340 53,916 53,696
Dividends declared per common share: $ 0.02 $ 0.02 $ 0.02