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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue from Contract with Customer, Excluding Assessed Tax $ 390,597 $ 428,904 $ 800,971 $ 854,286
Cost of sales 352,289 370,592 717,399 736,413
Gross profit 38,308 58,312 83,572 117,873
Selling, general and administrative expenses 35,746 33,960 71,651 68,599
Research and development expenses 2,544 2,754 5,161 5,631
Royalty expense 2,448 2,634 5,054 5,297
Income (loss) from operations (2,430) 18,964 1,706 38,346
Interest expense (8,295) (7,672) (16,228) (15,190)
Foreign exchange (loss) gain (1,239) (3,610) 4,484 (8,042)
Other income 2,069 2,477 3,065 10,227
(Loss) income before income taxes (9,895) 10,159 (6,973) 25,341
(Benefit) provision for income taxes (3,218) 1,683 (1,303) 897
Net (loss) income (6,677) 8,476 (5,670) 24,444
Net (loss) income attributable to noncontrolling interests (253) 40 (1,224) (1,639)
Net (loss) income attributable to Titan (6,424) 8,436 (4,446) 26,083
Redemption value adjustment 661 4,678 1,437 7,021
Net (loss) income applicable to common shareholders $ (7,085) $ 3,758 $ (5,883) $ 19,062
Earnings per common share:        
Basic $ (0.12) $ 0.06 $ (0.10) $ 0.32
Diluted $ (0.12) $ 0.06 $ (0.10) $ 0.32
Average common shares and equivalents outstanding:        
Basic 60,000 59,750 59,973 59,731
Diluted 60,000 59,878 59,973 59,877
Dividends declared per common share: $ 0.005 $ 0.005 $ 0.010 $ 0.010