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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 224,100 $ 220,251
Accounts receivable, net 316,639 219,145
Inventories 464,650 365,156
Prepaid and other current assets 87,095 72,229
Total current assets 1,092,484 876,781
Property, plant and equipment, net 447,729 321,694
Operating lease assets 105,117 11,955
Goodwill 12,867 0
Intangible assets, net 16,510 1,431
Deferred income taxes 16,377 38,033
Other long-term assets 42,983 39,351
Total assets 1,734,067 1,289,245
Current liabilities    
Short-term debt 14,588 16,913
Accounts payable 257,271 201,201
Operating leases 11,008 5,021
Other current liabilities 171,415 149,240
Total current liabilities 454,282 372,375
Long-term debt 535,907 409,178
Deferred income taxes 4,563 2,234
Operating leases 93,694 6,153
Other long-term liabilities 32,002 31,890
Total liabilities 1,120,448 821,830
Titan shareholders' equity    
Common stock ($0.0001 par value, 120,000,000 shares authorized, 78,447,035 issued and 72,174,244 outstanding at June 30, 2024; 66,525,269 issued and 60,715,855 outstanding at December 31, 2023) 0 0
Additional paid-in capital 736,720 569,065
Retained earnings 180,973 169,623
Treasury stock (at cost, 6,272,791 shares at June 30, 2024 and 5,809,414 shares at December 31, 2023) (56,616) (52,585)
Accumulated other comprehensive loss (251,736) (219,043)
Total Titan shareholders’ equity 609,341 467,060
Noncontrolling interests 4,278 355
Total equity 613,619 467,415
Total liabilities and equity $ 1,734,067 $ 1,289,245