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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue from Contract with Customer, Excluding Assessed Tax $ 572,895 $ 438,639 $ 1,128,892 $ 842,157
Cost of sales 463,242 377,169 932,510 727,422
Gross profit 109,653 61,470 196,382 114,735
Selling, general and administrative expenses 34,669 32,566 70,896 66,594
Research and development expenses 2,238 2,528 5,158 5,081
Royalty expense 3,045 2,657 5,919 5,110
Income (loss) from operations 69,701 23,719 114,409 37,950
Interest expense (7,707) (8,598) (15,614) (16,121)
Gain (Loss) on Repurchase of Debt Instrument 0 (16,020) 0 (16,020)
Foreign exchange gain (loss) 2,234 (768) 7,551 8,709
Other income 23,694 1,232 14,835 864
Income (loss) before income taxes 87,922 (435) 121,181 15,382
Provision for income taxes 19,001 1,991 27,682 4,585
Net income (loss) 68,921 (2,426) 93,499 10,797
Net income (loss) attributable to noncontrolling interests 1,750 347 2,406 (4)
Net income (loss) attributable to Titan and applicable to common shareholders 67,171 (2,773) 91,093 10,801
Net income (loss) applicable to common shareholders $ 67,171 $ (2,773) $ 91,093 $ 10,801
Earnings per common share:        
Basic $ 1.07 $ (0.04) $ 1.44 $ 0.18
Diluted $ 1.06 $ (0.04) $ 1.43 $ 0.17
Average common shares and equivalents outstanding:        
Basic 62,671 61,717 63,262 61,592
Diluted 63,221 61,717 63,773 62,480