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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 195,974 $ 220,251
Accounts receivable, net of allowance of $3,232 and $5,340 211,720 219,145
Inventories 437,192 365,156
Prepaid and other current assets 67,151 72,229
Total current assets 912,037 876,781
Property, plant and equipment, net 421,218 321,694
Operating lease assets 117,027 11,955
Goodwill 29,563 0
Intangible assets, net 11,985 1,431
Deferred income taxes 41,732 38,033
Other long-term assets 51,391 39,351
Total assets 1,584,953 1,289,245
Current liabilities    
Short-term debt 12,479 16,913
Accounts payable 219,586 201,201
Operating leases 11,999 5,021
Other current liabilities 143,294 139,378
Total current liabilities 387,358 362,513
Long-term debt 552,966 409,178
Deferred income taxes 6,416 2,234
Operating leases 106,020 6,153
Other long-term liabilities 38,537 41,752
Total liabilities 1,091,297 821,830
Commitments and contingencies: Notes 10, 22, 23 and 24
Titan stockholders' equity    
Common stock ($0.0001 par, 120,000,000 shares authorized, 78,447,035 issued and 63,139,435 outstanding at December 31, 2024; 66,525,269 issued and 60,715,855 outstanding at December 31, 2023) 0 0
Additional paid-in capital 740,223 569,065
Retained earnings 164,063 169,623
Treasury stock (at cost, 15,307,600 shares at December 31, 2024 and 5,809,414 shares at December 31, 2023) (122,336) (52,585)
Accumulated other comprehensive loss (285,877) (219,043)
Total Titan stockholders’ equity 496,073 467,060
Noncontrolling interests (2,417) 355
Total equity 493,656 467,415
Total liabilities and equity $ 1,584,953 $ 1,289,245