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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue from Contract with Customer, Excluding Assessed Tax $ 530,722 $ 450,382 $ 1,659,614 $ 1,292,539
Cost of sales 443,089 390,090 1,375,599 1,117,512
Gross profit 87,633 60,292 284,015 175,027
Selling, general and administrative expenses 31,410 32,217 102,306 98,811
Research and development expenses 2,434 2,370 7,592 7,451
Royalty expense 3,298 2,805 9,217 7,915
Income (loss) from operations 50,491 22,900 164,900 60,850
Interest expense (7,221) (7,818) (22,835) (23,939)
Gain (Loss) on Repurchase of Debt Instrument 0 0 0 (16,020)
Foreign exchange gain 1,198 416 8,749 9,125
Other income 9,691 648 24,526 1,512
Income before income taxes 54,159 16,146 175,340 31,528
Provision for income taxes 11,446 5,342 39,128 9,927
Net income 42,713 10,804 136,212 21,601
Net (loss) income attributable to noncontrolling interests (456) (383) 1,950 (387)
Net income attributable to Titan and applicable to common shareholders $ 43,169 $ 11,187 $ 134,262 $ 21,988
Earnings per common share:        
Basic $ 0.69 $ 0.18 $ 2.13 $ 0.36
Diluted $ 0.68 $ 0.18 $ 2.11 $ 0.35
Average common shares and equivalents outstanding:        
Basic 62,803 62,340 63,107 61,844
Diluted 63,229 62,601 63,587 62,523