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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue from Contract with Customer, Excluding Assessed Tax $ 401,781 $ 530,722 $ 1,431,601 $ 1,659,614
Cost of sales 335,708 443,089 1,184,076 1,375,599
Gross profit 66,073 87,633 247,525 284,015
Selling, general and administrative expenses 33,587 31,410 102,917 102,306
Research and development expenses 3,167 2,434 9,399 7,592
Royalty expense 2,344 3,298 7,200 9,217
Income (loss) from operations 26,975 50,491 128,009 164,900
Interest expense, net (3,931) (7,221) (16,185) (22,835)
Foreign exchange gain (loss) 876 1,198 (882) 8,749
Other income 461 9,691 2,409 24,526
Income before income taxes 24,381 54,159 113,351 175,340
Provision for income taxes 4,718 11,446 28,363 39,128
Net income 19,663 42,713 84,988 136,212
Net income (loss) attributable to noncontrolling interests 383 (456) 3,663 1,950
Net income attributable to Titan and applicable to common shareholders $ 19,280 $ 43,169 $ 81,325 $ 134,262
Earnings per common share:        
Basic $ 0.31 $ 0.69 $ 1.29 $ 2.13
Diluted $ 0.31 $ 0.68 $ 1.29 $ 2.11
Average common shares and equivalents outstanding:        
Basic 62,598 62,803 62,810 63,107
Diluted 63,095 63,229 63,271 63,587