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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue from Contract with Customer, Excluding Assessed Tax $ 345,905 $ 384,719 $ 1,146,876 $ 1,239,005
Cost of sales 318,805 341,015 1,036,204 1,077,428
Gross profit 27,100 43,704 110,672 161,577
Selling, general and administrative expenses 34,954 33,709 106,605 102,308
Research and development expenses 2,309 2,591 7,470 8,222
Royalty expense 2,453 2,581 7,507 7,878
Income (loss) from operations (12,616) 4,823 (10,910) 43,169
Interest expense (8,357) (7,596) (24,585) (22,786)
Foreign exchange (loss) gain (2,266) 855 2,218 (7,187)
Other income 5,259 7,437 8,324 17,664
(Loss) income before income taxes (17,980) 5,519 (24,953) 30,860
Provision for income taxes 2,064 2,841 761 3,738
Net (loss) income (20,044) 2,678 (25,714) 27,122
Net (loss) income attributable to noncontrolling interests (900) 383 (2,124) (1,256)
Net (loss) income attributable to Titan (19,144) 2,295 (23,590) 28,378
Redemption value adjustment 491 4,045 1,928 11,066
Net (loss) income applicable to common shareholders $ (19,635) $ (1,750) $ (25,518) $ 17,312
Earnings per common share:        
Basic $ (0.33) $ (0.03) $ (0.43) $ 0.29
Diluted $ (0.33) $ (0.03) $ (0.43) $ 0.29
Average common shares and equivalents outstanding:        
Basic 60,161 59,897 60,037 59,787
Diluted 60,161 59,897 60,037 59,893
Dividends declared per common share: $ 0.005 $ 0.005 $ 0.015 $ 0.015