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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 227,293 $ 220,251
Accounts receivable, net of allowance of $4,117 and $5,340 272,837 219,145
Inventories 453,632 365,156
Prepaid and other current assets 71,977 72,229
Total current assets 1,025,739 876,781
Property, plant and equipment, net 440,298 321,694
Operating lease assets 120,330 11,955
Goodwill 35,810 0
Intangible assets, net 13,036 1,431
Deferred income taxes 8,106 38,033
Other long-term assets 43,405 39,351
Total assets 1,686,724 1,289,245
Current liabilities    
Short-term debt 15,025 16,913
Accounts payable to the non-consolidated VIEs 234,302 201,201
Operating leases 13,077 5,021
Other current liabilities 168,897 139,378
Total current liabilities 431,301 362,513
Long-term debt 503,429 409,178
Deferred income taxes 2,524 2,234
Operating leases 109,187 6,153
Other long-term liabilities 42,229 41,752
Total liabilities 1,088,670 821,830
Titan shareholders' equity    
Common stock ($0.0001 par value, 120,000,000 shares authorized, 78,447,035 issued and 71,184,028 outstanding at September 30, 2024; 66,525,269 issued and 60,715,855 outstanding at December 31, 2023) 0 0
Additional paid-in capital 738,420 569,065
Retained earnings 162,724 169,623
Treasury stock (at cost, 7,263,007 shares at September 30, 2024 and 5,809,414 shares at December 31, 2023) (64,424) (52,585)
Accumulated other comprehensive loss (238,953) (219,043)
Total Titan shareholders’ equity 597,767 467,060
Noncontrolling interests 287 355
Total equity 598,054 467,415
Total liabilities and equity $ 1,686,724 $ 1,289,245