Titan International (TWI) 10-K 29 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity File Number	1-12936
Entity Registrant Name	TITAN INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3228472
City Area Code	630
City Area Code	377-0486
Entity Address, State or Province	IL
Entity Address, City or Town	West Chicago,
Entity Address, Address Line One	1525 Kautz Road, Suite 600,
Entity Address, Postal Zip Code	60185
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	TWI
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 720,000,000
Entity Common Stock, Shares Outstanding		60,645,378
Amendment Flag	false
Entity Central Index Key	0000899751
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
Auditor Firm ID	248
Auditor Name	Grant Thornton LLP
Auditor Location	Southfield, Michigan
Related Party Transaction, Purchases from Related Party	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Document Period End Date	Dec. 31, 2023
Entity Well-known Seasoned Issuer	No
Current Fiscal Year End Date	--12-31
Document Financial Statement Error Correction [Flag]	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 1,821,800	$ 2,169,380	$ 1,780,215
Cost of sales	1,515,951	1,808,670	1,542,673
Gross profit	305,849	360,710	237,542
Selling, general and administrative expenses	134,938	132,792	131,772
Research and development expenses	12,539	10,404	10,104
Royalty expense	9,645	11,712	10,491
Income from operations	148,727	205,802	85,175
Interest expense, net	(18,785)	(29,796)	(32,221)
Loss on senior note repurchase	0	0	(16,020)
Foreign exchange (loss) gain	(22,822)	927	12,020
Other income	2,628	25,420	2,086
Income before income taxes	109,748	202,353	51,040
Provision for income taxes	26,042	23,167	1,149
Net income	83,706	179,186	49,891
Net income attributable to noncontrolling interests	(4,946)	(2,884)	(305)
Net income applicable to common shareholders	$ 78,760	$ 176,302	$ 49,586
Earnings (loss) per common share:
Basic	$ 1.26	$ 2.80	$ 0.80
Diluted	$ 1.25	$ 2.77	$ 0.79
Average common shares outstanding:
Basic	62,452	63,040	62,100
Diluted	62,961	63,691	62,685

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 83,706	$ 179,186	$ 49,891
Derivative, Gain on Derivative		1,263	374
Derivative, Loss on Derivative	(484)
Currency translation adjustment, net	22,267	(6,507)	(42,338)
Pension liability adjustments, net of tax of $(2,663), $(383), and $39, respectively	6,939	1,115	12,308
Comprehensive income	112,428	175,057	20,235
Net comprehensive income (loss) attributable to noncontrolling interests	956	4,030	(125)
Comprehensive income attributable to Titan	$ 111,472	$ 171,027	$ 20,360

Statement of Comprehensive Inco

Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	$ (2,663)	$ (383)	$ 39

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 220,251	$ 159,577
Accounts receivable, net	219,145	266,758
Inventories	365,156	397,223
Prepaid and other current assets	72,229	86,070
Total current assets	876,781	909,628
Property, plant and equipment, net	321,694	296,605
Operating Lease, Right-of-Use Asset	11,955	8,932
Deferred income taxes	38,033	38,736
Other long-term assets	40,782	30,729
Total assets	1,289,245	1,284,630
Current liabilities
Short-term debt	16,913	30,857
Accounts payable	201,201	263,376
Other current liabilities	154,261	151,928
Total current liabilities	372,375	446,161
Long-term debt	409,178	414,761
Deferred income taxes	2,234	3,425
Other long-term liabilities	38,043	37,145
Total liabilities	821,830	901,492
Titan stockholders' equity
Common stock ($0.0001 par, 120,000,000 shares authorized, 66,525,269 issued at December 2023 and 66,525,269 at December 2022)	0	0
Additional paid-in capital	569,065	565,546
Retained earnings	169,623	90,863
Treasury stock (at cost, 5,809,414 shares at December 2023 and 3,681,308 shares at December 2022)	(52,585)	(23,418)
Accumulated other comprehensive loss	(219,043)	(251,755)
Total Titan stockholders’ equity	467,060	381,236
Noncontrolling interests	355	1,902
Total equity	467,415	383,138
Total liabilities and equity	1,289,245	1,284,630
Accounts Receivable, Allowance for Credit Loss, Current	$ 5,340	$ 6,170
Common Stock, Shares, Issued	66,525,269	66,525,269
Common Stock, No Par Value	$ 0.0001
Common Stock, Shares Authorized	120,000,000
Treasury Stock, Shares	5,809,414	3,681,308

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Treasury Stock, Common	Accumulated other comprehensive income (loss) [Member]	Parent [Member]	Noncontrolling interest [Member]
Balance, Beginning (in shares) at Dec. 31, 2020		61,376,981
Balance, Beginning at Dec. 31, 2020	$ 176,265	$ 0	$ 532,742	$ (135,025)	$ (1,199)	$ (217,254)	$ 179,264	$ (2,999)
Net income	49,891			49,586			49,586	305
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax						(41,908)
CTA, net of tax	(42,338)						(41,908)	(430)
Temporary Equity, Foreign Currency Translation Adjustments	(42,338)
Pension liability adjustments, net of tax of $(2,663), $(383), and $39, respectively	12,308					(12,308)	12,308
Derivative, Gain on Derivative	374					374	374
Stock Issued During Period, Shares, Restricted Stock Award, Gross		827,277
Stock-based compensation	3,441		3,363		78		3,441
Issuance of treasury stock under 401(k) plan (in shares)		175,267
Issuance of treasury stock under 401(k) plan	1,235		1,235				1,235
Stock Issued During Period, Shares, Other		4,032,259
Stock Issued During Period, Value, Other	25,000		25,000				25,000
Variable Interest Entity, Members Draw	996						0	996
Balance, Ending (in shares) at Dec. 31, 2021		66,411,784
Balance, Ending at Dec. 31, 2021	$ 227,172	$ 0	562,340	(85,439)	(1,121)	(246,480)	229,300	(2,128)
Restricted stock awards (in shares)	438,195
Net income	$ 179,186			176,302			176,302	2,884
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax						(7,653)
CTA, net of tax	(6,507)						(7,653)	1,146
Temporary Equity, Foreign Currency Translation Adjustments	(6,507)
Pension liability adjustments, net of tax of $(2,663), $(383), and $39, respectively	1,115					(1,115)	1,115
Derivative, Gain on Derivative	1,263					1,263	1,263
Stock Issued During Period, Shares, Restricted Stock Award, Gross		339,791
Stock-based compensation	4,282		2,151		2,131		4,282
Issuance of treasury stock under 401(k) plan (in shares)		124,645
Issuance of treasury stock under 401(k) plan	$ 1,627		1,055		572		1,627
Treasury Stock, Shares, Acquired	(4,032,259)	(4,032,259)
Treasury Stock, Value, Acquired, Cost Method	$ (25,000)				(25,000)		(25,000)
Balance, Ending (in shares) at Dec. 31, 2022		62,843,961
Balance, Ending at Dec. 31, 2022	$ 383,138	$ 0	565,546	90,863	(23,418)	(251,755)	381,236	1,902
Restricted stock awards (in shares)	552,992
Titan stockholders' equity	$ 381,236
Retained earnings	90,863
Net income	83,706			78,760			78,760	4,946
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax						26,257
CTA, net of tax	22,267						26,257	(3,990)
Temporary Equity, Foreign Currency Translation Adjustments	22,267
Pension liability adjustments, net of tax of $(2,663), $(383), and $39, respectively	6,939					(6,939)	6,939
Derivative, Loss on Derivative	(484)					(484)	(484)
Stock Issued During Period, Shares, Restricted Stock Award, Gross		381,241
Stock-based compensation	5,235		2,819		2,416		5,235
Issuance of treasury stock under 401(k) plan (in shares)		144,439
Issuance of treasury stock under 401(k) plan	$ 1,776		780		996		1,776
Treasury Stock, Shares, Acquired	(2,653,786)	(2,653,786)
Treasury Stock, Value, Acquired, Cost Method	$ (32,579)				(32,579)		(32,579)
Variable Interest Entity, Members Draw	(2,135)						0	(2,135)
Noncontrolling Interest, Period Increase (Decrease)	(448)		(80)				(80)	(368)
Balance, Ending (in shares) at Dec. 31, 2023		60,715,855
Balance, Ending at Dec. 31, 2023	$ 467,415	$ 0	$ 569,065	$ 169,623	$ (52,585)	$ (219,043)	$ 467,060	$ 355
Restricted stock awards (in shares)	571,530
Exercise of stock options (in shares)	0
Titan stockholders' equity	$ 467,060
Retained earnings	$ 169,623

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 83,706	$ 179,186	$ 49,891
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	42,434	42,747	47,991
Loss on sale of the Australian wheel business	0	10,890	0
Loss on senior note repurchase	0	0	16,020
Income Tax Credits and Adjustments	(3,096)	(32,043)	0
Gain on fixed asset and investment sale	644	216	569
Stock-based compensation	5,235	4,282	3,441
Issuance of stock under 401(k) plan	1,776	1,627	1,235
Foreign currency loss (gain)	19,734	2,661	(8,930)
(Increase) decrease in assets:
Accounts receivable	42,871	(27,201)	(74,736)
Inventories	31,635	(19,598)	(112,850)
Prepaid and other current assets	17,596	11,366	(15,671)
Other assets	(2)	(1,288)	(5,298)
Increase (decrease) in liabilities:
Accounts payable	(62,725)	(7,754)	121,189
Other current liabilities	872	18,888	14,781
Other liabilities	2,039	516	(11,588)
Net cash provided by (used for) operating activities	179,350	160,678	10,726
Cash flows from investing activities:
Capital expenditures	(60,799)	(46,974)	(38,802)
Proceeds from sale of investments	2,085	9,293	0
Other investing activities	1,791	930	1,203
Net cash provided by (used for) investing activities	(56,923)	(36,751)	(37,599)
Cash flows from financing activities:
Proceeds from borrowings	6,666	88,940	497,149
Repurchase of senior secured notes	0	0	413,000
Payment on debt	(27,608)	(124,739)	(69,182)
Repurchase of common stock	(32,579)	(25,000)	0
Proceeds from (Payments for) Other Financing Activities	(2,495)	(511)	(1,021)
Net cash used for financing activities	(56,016)	(61,310)	13,946
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(5,737)	(1,148)	(6,396)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total	60,674	61,469	(19,323)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	220,251	159,577	98,108
Supplemental Cash Flow Information [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	30,269	31,604	34,578
Income taxes paid, net of refunds received	21,801	24,105	16,263
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Deferred Income Tax Expense (Benefit)	$ (2,081)	$ (23,385)	$ (14,180)

DESCRIPTION OF BUSINESS AND SIG

DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Business Titan International, Inc. and its subsidiaries (Titan or the Company) are leading manufacturers of wheels, tires, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction, and consumer segments. Titan manufactures both wheels and tires for the majority of these market applications, allowing the Company to provide the value-added service of delivering complete wheel and tire assemblies. The Company offers a broad range of products that are manufactured to meet the specifications of original equipment manufacturers (OEMs) and/or the requirements of aftermarket customers. Principles of consolidation The consolidated financial statements include the accounts of all majority-owned subsidiaries and variable interest entities in which Titan is the primary beneficiary. Investments in companies in which Titan does not own a majority interest, but which Titan has the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Investments in other companies are carried at cost. All significant intercompany accounts and transactions have been eliminated. Cash and cash equivalents The Company considers short-term debt securities with an original maturity of three months or less to be cash equivalents. The cash in the Company's U.S. banks is not fully insured by the Federal Deposit Insurance Corporation. The Company had $186.1 million and $132.8 million of cash in foreign bank accounts at December 31, 2023 and 2022, respectively. The Company's cash in its foreign bank accounts is not fully insured. Accounts receivable and allowance for credit loss The Company carries its accounts receivable at their face amounts less an allowance for credit loss. An allowance for credit loss is recorded based upon the best estimate of credit losses in accounts receivable. In order to monitor credit risks associated with our customer base, credit worthiness of our existing customer base is reviewed on a periodic basis. At the end of each reporting period, the allowance for credit loss is reviewed relative to management's collectability assessment and adjusted if deemed necessary. The factors considered in this review include known bad debt risks and past loss history. Actual collection experience may differ from the current estimate of net receivables. Concentration of Credit Risk Titan’s 10 largest customers accounted for 40% of net sales for the year ended December 31, 2023, and 43% of net sales for the year ended December 31, 2022. Net sales to Deere & Company in Titan's agricultural, earthmoving/construction, and consumer segments combined represented 13% and 15% of the Company's consolidated net sales for the years ended December 31, 2023 and 2022, respectively. No other customer accounted for 10% or more of Titan's net sales in 2023 and 2022. Inventories Inventories are valued at the lower of cost or net realizable value. The Company’s inventories are valued under the first in, first out (FIFO) method or average cost method. Net realizable value is estimated based on current selling prices. Estimated provisions are established for slow-moving and obsolete inventory. Fixed assets Property, plant, and equipment have been recorded at cost. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets: Years Building and improvements 25 - 40 Machinery and equipment 7 - 20 Tools, dies, and molds 2 - 9 Maintenance and repairs are expensed as incurred. When property, plant, and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are eliminated, and any gain or loss on disposition is included in the accompanying Consolidated Statements of Operations. Impairment of Long-Lived Assets The Company reviews fixed assets to assess recoverability from future operations whenever events and circumstances indicate that the carrying values may not be recoverable. Factors that could result in an impairment review include, but are not limited to, a current period cash flow loss combined with a history of cash flow losses, current cash flows that may be insufficient to recover the investment in the property over the remaining useful life, or a projection that demonstrates continuing losses associated with the use of a long-lived asset, significant changes in the manner of use of the assets, or significant changes in business strategies. Impairment losses are recognized in operating results when expected undiscounted cash flows are less than the carrying value of the asset. Impairment losses are measured as the excess of the carrying value of the asset over the discounted expected future cash flows or the estimated fair value of the asset. Fair value of financial instruments The Company records all financial instruments, including cash and cash equivalents, accounts receivable, notes receivable, accounts payable, and notes payable at cost, which approximates fair value due to their short term or stated rates. Investments in marketable equity securities are recorded at fair value. Our 7.0% senior secured notes due 2028 (the senior secured notes due 2028) were carried at cost of $396.3 million at December 31, 2023. The fair value of the senior secured notes due 2028 at December 31, 2023, as obtained through an independent pricing source, was approximately $401.4 million. Investments The Company assesses the carrying value of its equity method investments whenever events and circumstances indicate that the carrying values may not be recoverable. Investment write-downs, if necessary, are recognized in operating results when expected undiscounted future cash flows are less than the carrying value of the asset. These write-downs, if any, are measured as the excess of the carrying value of the asset over the discounted expected future cash flows or the estimated fair value of the asset. The Company uses the cost method to account for investments in entities that are not consolidated or accounted for under the equity method. Under the cost method, investments are reported at cost in other long-term assets on the Consolidated Balance Sheets. The carrying value of these investments was $7.1 million and $6.9 million as of December 31, 2023, and December 31, 2022, respectively. The fair values of cost method investments are not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair values of the investments. Russia-Ukraine Military Conflict In February 2022, in response to the military conflict between Russia and Ukraine, the United States, other North Atlantic Treaty Organization member states, as well as non-member states, announced targeted economic sanctions on Russia, certain Russian citizens and enterprises. The continuation of the conflict has triggered additional economic and other sanctions enacted by the United States and other countries throughout the world. The Company currently owns 64.3% of the Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia, which represents approximately 7% of consolidated assets of Titan as of both December 31, 2023 and December 31, 2022. The Russian operations represent approximately 6% of consolidated global sales for both years ended December 31, 2023 and December 31, 2022. The impact of the military conflict between Russia and Ukraine has not had a significant impact on global operations. The Company continues to monitor the potential impacts on the business including the increased cost of energy in Europe and the ancillary impacts that the military conflict could have on other global operations. Sale of Australian wheel business On March 29, 2022, the Company entered into a definitive agreement (the Agreement) for the sale of its Australian wheel business, to OTR Tyres, a leading Australian tire, wheel and service provider. The closing date of the transaction was March 31, 2022. The Agreement contains customary representations, warranties and covenants for transactions of this type. The sale included gross proceeds and cash repatriated of approximately $17.5 million, and the assumption by OTR Tyres of all liabilities, including employee and lease obligations. Refer to footnote 16 for additional information on the loss on sale of the Australian wheel business. Foreign currency translation The financial statements of the Company’s foreign subsidiaries are translated to United States dollars. Assets and liabilities are translated to United States dollars at period-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the period. Translation adjustments are included in “Accumulated other comprehensive loss” in stockholders’ equity. Gains and losses that result from foreign currency transactions are included in the accompanying Consolidated Statements of Operations. Hyperinflation in Argentina and Turkey In July 2018 and March 2022, the three-year cumulative rate of inflation for consumer prices and wholesale prices reached a level in excess of 100% for Argentina and Turkey, respectively. As a result, in accordance with ASC 830 Foreign Currency Matters, Argentina and Turkey were considered hyperinflationary economies and the Company applied the standard for the year ended December 31, 2023. The impacts of hyperinflation in Argentina and Turkey were not material in the prior periods since Argentina and Turkey became hyperinflationary economies. In accordance with ASC 830, the Argentine and Turkish subsidiary's nonmonetary assets and liabilities, as well as related expenses such as depreciation, are remeasured into US dollars by applying the foreign exchange rate as of the date each respective entity became hyperinflationary. Monetary assets and liabilities are remeasured into US dollars using the current exchange rates as of December 31, 2023. Any resulting gains or losses on these monetary assets and liabilities are reported in net income within the consolidated statements of operations. Upon the application of ASC 830 during the year ended December 31, 2023, the Company recognized a net monetary loss of $15.5 million recorded in foreign exchange (loss) gain in the consolidated statements of operations. Of the $15.5 million recorded, $7.3 million relates to the foreign exchange loss with the offset to accumulated other comprehensive income (loss) for the prior period's impact of the application of hyperinflation accounting in Argentina and Turkey. The Company recorded the prior period impact in the current year financial statements as the impact of this out of period adjustment, individually and in the aggregate, was not material to any previously reported quarterly or annual financial statements and is not material to the 2023 annual financial statements. Revenue recognition The Company derives revenues primarily from the sale of wheels, tires, tires/wheels assemblies, and undercarriage systems and components. The Company follows the five-step model to determine when to recognize revenue: (1) identify the contract(s) with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when the entity satisfies a performance obligation. In most arrangements within the Company, contracts with the customer are identified through the receipt of a purchase order, which also define the terms of the contract including the performance obligations or products to be sold, and specific transaction prices associated with the products. In some other arrangements, a master agreement exists that defines pertinent contract terms such as products and price. Purchase orders are then issued under the master agreement for specific quantities of products, which are fulfilled at the specified price at a given point in time. Generally, the Company’s performance obligations under the contracts are satisfied when there is transfer of control of the products to our customers, which is primarily upon shipment or, in certain instances, upon delivery of the products to the named customer location. The payment terms and conditions in our contracts vary and are customary within the geographies that we serve. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. Revenues are stated net of returns, discounts and allowances, which are determined based on historical experience. Customer discounts and allowances, consisting primarily of volume discounts and other short-term incentive programs, are recorded as a reduction of revenue at the time of sale because these allowances reflect a reduction in the transaction price. Costs to obtain or fulfill a contract with a customer, such as sales commissions to agents and internal sales employees, are recognized as an expense when incurred since the amortization period would be one year or less. Shipping and handling costs are included as a component of cost of sales. Revenue derived from shipping and handling costs billed to customers is included in sales. Cost of sales Cost of sales is comprised primarily of direct materials and supplies consumed in the manufacturing of the Company’s products, as well as manufacturing labor, depreciation expense, and overhead expense necessary to acquire and convert the purchased materials and supplies into a finished product. Cost of sales also includes all purchasing, receiving, inspection, internal transfers, and related distribution costs. Selling, general, and administrative expense Selling, general, and administrative (SG&A) expense is comprised primarily of sales commissions, marketing expense, selling, and administrative wages, information system costs, legal fees, bank charges, professional fees, depreciation and amortization expense on non-manufacturing assets, and other administrative items. Research and development expense Research and development (R&D) expenses are expensed as incurred. R&D costs were $12.5 million, $10.4 million, and $10.1 million for the years ended December 31, 2023, 2022, and 2021, respectively. Advertising Advertising expenses are included in SG&A expense and are expensed as incurred. Advertising costs were approximately $3.3 million, $3.0 million and $2.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. Warranty costs The Company provides limited warranties on workmanship on its products in all market segments. The provision for estimated warranty costs is made in the period when such costs become probable and is based on past warranty experience. See Note 8 for additional information. Income taxes Deferred income tax provisions are determined using the liability method to recognize deferred tax assets and liabilities. This method is based upon differences between the financial statement carrying amounts and the respective tax basis of assets and liabilities using enacted tax rates that are expected to apply in the years the temporary differences are expected to be settled or realized. Valuation allowances are recorded where it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. Earnings per share Basic earnings per share (EPS) is computed by dividing consolidated net earnings applicable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing adjusted consolidated net earnings applicable to common shareholders by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding. Potential common shares consist of outstanding options under the Company’s stock compensation plans. Environmental liabilities Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations and that do not contribute to current or future revenue are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and can be reasonably estimated. Stock-based compensation Compensation expense for stock-based compensation is recognized over the requisite service period at the estimated fair value of the award at the grant date. The Company granted 571,530, 552,992 and 438,195 restricted stock shares in 2023, 2022 and 2021, respectively. See Note 19 for additional information. Use of estimates The policies utilized by the Company in the preparation of the financial statements conform to United States generally accepted accounting principles (US GAAP or GAAP) and require management to make estimates, assumptions, and judgments that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from these estimates and assumptions. Supplier financing program A subsidiary of Titan participates in supplier financing programs pursuant to credit agreements between certain suppliers and financial institutions. The program enables those suppliers to receive payment from participating financial institutions prior to the payment date specified in the terms between Titan and the supplier. Titan does not incur annual service fees associated with its enrollment in the supplier financing program. The transactions are at the sole discretion of both the suppliers and the financial institution, and Titan is not a party to the agreement and has no economic interest in the supplier's decision to receive payment prior to the payment date. The terms between Titan and a supplier, including the amount due and scheduled payment dates, are not impacted by a supplier's participation in the program. Amounts due to suppliers who participate in the program are included in the accounts payable line item in Titan's Consolidated Balance Sheets and Titan’s payments made under the program are reflected in cash flows from operating activities in Titan's Consolidated Statements of Cash Flows. For suppliers who participate in a supplier financing program, Titan will pay the financial institution directly rather than the supplier. The confirmed obligations under the supplier financing programs included in the accounts payable line item in Titan's Consolidated Balance Sheet were $7.4 million at December 31, 2023, and $11.8 million at December 31, 2022. Adoption of new accounting standards In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations ("ASU No. 2022-04"). The ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, and potential magnitude. The amendments in this ASU will be applied retrospectively to each period in which a balance sheet is presented, with the exception of a new requirement to disclose a rollforward of program activity, which will be applied prospectively. The amendments in the ASU are effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted the impact of this ASU effective March 31, 2023 and incorporated the required disclosures within Note 1 to condensed consolidated financial statements. New accounting pronouncements to be adopted in future periods In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require, among other things, disclosure of significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”) and a description of other segment items (the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss) by reportable segment, as well as disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023 and interim disclosures are required for periods within fiscal years beginning after December 15, 2024. Retrospective application is required, and early adoption is permitted. These requirements are not expected to have an impact on our financial statements, but will result in significantly expanded reportable segment disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, may be applied prospectively or retrospectively, and allows for early adoption. These requirements will impact our income tax disclosures.

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE, NET Accounts receivable at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Accounts receivable $ 224,485 $ 272,928 Allowance for credit losses (5,340) (6,170) Accounts receivable, net $ 219,145 $ 266,758 Accounts receivable are reduced by an estimated allowance for credit losses which is based on known risks and historical losses.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Raw material $ 108,504 $ 128,170 Work-in-process 39,921 42,468 Finished goods 216,731 226,585 $ 365,156 $ 397,223 Inventories are reduced by estimated provisions for slow-moving and obsolete inventory.

PREPAID AND OTHER CURRENT ASSET

PREPAID AND OTHER CURRENT ASSETS	12 Months Ended
	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
PREPAID AND OTHER CURRENT ASSETS	PREPAID AND OTHER CURRENT ASSETS Prepaid and other current assets at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Value added tax and duty receivable, including tax credits $ 15,255 $ 38,604 Factory supplies 24,472 22,553 Prepaid expense 20,783 19,062 Prepaid taxes 2,144 2,596 Deposits 1,338 1,388 Contract receivable 1,213 578 Other 7,024 1,289 $ 72,229 $ 86,070

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT, AND EQUIPMENT, NET Property, plant, and equipment at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Land and improvements $ 42,140 $ 40,330 Buildings and improvements 243,241 237,507 Machinery and equipment 628,975 588,857 Tools, dies, and molds 116,328 112,990 Construction-in-process 29,744 29,291 1,060,428 1,008,975 Less accumulated depreciation (738,734) (712,370) $ 321,694 $ 296,605 Depreciation, including depreciation on capital leases, related to property, plant, and equipment for the years ended December 31, 2023, 2022 and 2021 totaled $41.0 million, $41.5 million, and $46.4 million, respectively.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2023
Other Assets, Noncurrent Disclosure [Abstract]
OTHER ASSETS	OTHER LONG-TERM ASSETS Other long-term assets at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Net pension asset $ 19,566 $ 11,241 Prepaid software 5,879 5,468 Investments in nonconsolidated affiliates 7,127 6,948 Manufacturing spares 2,089 1,683 Amortizable intangibles 1,387 1,610 Deferred financing costs 195 264 Other 4,539 3,515 $ 40,782 $ 30,729

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Current [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES Other current liabilities at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Compensation and benefits $ 47,543 $ 45,389 Warranty 21,710 19,914 Accrued insurance benefits 19,162 21,154 Customer rebates and deposits 15,490 16,279 Accrued other taxes 13,762 18,549 Operating lease current liabilities 5,021 3,850 Accrued interest 4,955 5,040 Foreign government grant (a) 4,509 1,888 Settlement of legal matter (b) — 1,260 Other 22,109 18,605 $ 154,261 $ 151,928 (a) For the year ended December 31, 2023, the Company received government subsidies associated with current year capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidy is used to offset existing payables to government in the future. In addition, during August 2014, the Company received an approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of our Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant.

WARRANTY

WARRANTY	12 Months Ended
	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
WARRANTY COSTS	WARRANTY Changes in the warranty liability for the periods set forth below consisted of the following (amounts in thousands): 2023 2022 Warranty liability, January 1 $ 19,914 $ 16,628 Provision for warranty liabilities 14,478 14,656 Warranty payments made (12,682) (11,370) Warranty liability, December 31 $ 21,710 $ 19,914 The Company provides limited warranties on workmanship on its products in all market segments. The majority of the Company’s products are subject to a limited warranty that ranges between less than one year and ten years, with certain product warranties being prorated after the first year. The Company calculates a provision for warranty expense based on past warranty experience. Warranty accruals are included as a component of other current liabilities on the Consolidated Balance Sheets.

REVOLVING CREDIT FACILITY AND L

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
REVOLVING CREDIT FACILITY AND LONG-TERM DEBT	DEBT Long-term debt consisted of the following as of the dates set forth below (amounts in thousands): December 31, 2023 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (3,723) $ 396,277 Titan Europe credit facilities 22,568 — 22,568 Other debt 7,246 — 7,246 Total debt 429,814 (3,723) 426,091 Less amounts due within one year 16,913 — 16,913 Total long-term debt $ 412,901 $ (3,723) $ 409,178 December 31, 2022 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (4,599) $ 395,401 Titan Europe credit facilities 37,362 — 37,362 Other debt 12,855 — 12,855 Total debt 450,217 (4,599) 445,618 Less amounts due within one year 30,857 — 30,857 Total long-term debt $ 419,360 $ (4,599) $ 414,761 The weighted-average interest rates on total short-term borrowings, at December 31, 2023 and December 31, 2022, were approximately 6.8% for both years. Aggregate maturities of total debt at December 31, 2023, for each of the years (or other periods) set forth below were as follows (amounts in thousands): 2024 $ 16,956 2025 3,362 2026 3,607 2027 1,388 2028 400,613 Thereafter 3,888 $ 429,814 7.00% senior secured notes due 2028 On April 22, 2021, the Company issued $400.0 million aggregate principal amount of 7.00% senior secured notes due April 2028 (the senior secured notes due 2028), guaranteed by certain of the Company's subsidiaries. Including the impact of debt issuance costs, these notes had an effective yield of 7.27% at issuance. These notes are secured by the land and buildings of the following subsidiaries of the Company: Titan Wheel Corporation of Illinois, Titan Tire Corporation, Titan Tire Corporation of Freeport, and Titan Tire Corporation of Bryan. In connection with the issuance of the senior secured notes due 2028, the Company satisfied and discharged the indenture related to the 6.50% senior secured notes due 2023 (senior secured notes due 2023) by completing a call and redemption of all of its outstanding $400.0 million principal amount of the senior secured notes due 2023. In connection with this call and redemption in 2021, the Company recorded $16.0 million of expenses for the year ended December 31, 2021, which was included within the loss on senior note repurchase line item within the Consolidated Statements of Operations. Titan Europe credit facilities The Titan Europe credit facilities included borrowings from various institutions totaling $22.6 million in aggregate principal amount at December 31, 2023. Maturity dates on this primarily unsecured debt range from less than one year to five years. The interest rates range from 0.5% to 6.5%. Revolving credit facility The Company has a $125 million revolving credit facility (credit facility) with agent BMO Harris Bank N.A. and other financial institutions party thereto. The credit facility is collateralized by accounts receivable and inventory of certain of the Company’s domestic subsidiaries and is scheduled to mature on October 28, 2026. The credit facility can be expanded by up to $50 million through an accordion provision within the agreement. From time to time Titan's availability under this credit facility may be less than $125 million as a result of outstanding letters of credit and eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. Based on eligible accounts receivable and inventory balances, the Company's amount available for borrowing totaled $96.2 million at December 31, 2023. With outstanding letters of credit totaling $6.2 million, the net amount available for borrowing under the credit facility totaled $90.0 million at December 31, 2023. There were no borrowings under the revolving credit facility at December 31, 2023. Other Debt The Company has a working capital loan at Titan Pneus do Brasil Ltda at varying interest rates from approximately 5% to 6.5%, which totaled $7.2 million at December 31, 2023. The maturity date on this loan is one year or less. The Company expects to negotiate an extension of the maturity date on this loan with the respective financial institution or repay, as needed.

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
OTHER LONG-TERM LIABILITIES	OTHER LONG-TERM LIABILITIES Other long-term liabilities at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Accrued pension liabilities $ 12,795 $ 13,877 Foreign government grant (a) 12,383 11,797 Operating lease long-term liabilities 6,153 2,409 Income tax liabilities 35 43 Other 6,677 9,019 $ 38,043 $ 37,145

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company uses financial derivatives to mitigate its exposure to volatility in foreign currency exchange rates. Periodically, the Company enters into derivative transactions to hedge against fluctuations in commodity prices in North America. These derivative financial instruments are recognized at their fair value. The fair value of the hedges is recorded on the balance sheet as either an asset or liability, depending on whether the value of the hedge is positive or negative. These derivatives are designated as cash flow hedges. Any changes in fair value are recognized in other comprehensive income (OCI) until the hedged item affects earnings. When the hedged item impacts earnings, the accumulated gains or losses in OCI are reclassified to the income statement in the same period or periods during which the hedged item affects earnings. The amount of unrealized gains and losses from cash flow hedges that are expected to be reclassified to earnings in the next twelve months, is not significant; therefore, additional disclosures are not presented.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss consisted of the following at the dates set forth below (amounts in thousands): Currency Gain (Loss) on Derivatives Unrecognized Total Balance at January 1, 2022 $ (236,059) $ (39) $ (10,382) $ (246,480) Currency translation adjustments (7,653) — — (7,653) Reclassification adjustments: Defined benefit pension plan adjustments, net of tax of $(383) — — 1,115 1,115 Derivative gain — 1,263 — 1,263 Balance at December 31, 2022 (243,712) 1,224 (9,267) (251,755) Currency translation adjustments 26,257 — — 26,257 Reclassification adjustments: Defined benefit pension plan adjustments, net of tax of $(2,663) — — 6,939 6,939 Derivative loss — (484) — (484) Balance at December 31, 2023 $ (217,455) $ 740 $ (2,328) $ (219,043)

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2023
Equity, Attributable to Parent [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY On December 16, 2022, the Board of Directors authorized a share repurchase program allowing for the expenditure of up to $50.0 million (the “Share Repurchase Program”) for the repurchase of the Company's common stock. This authorization took effect immediately and will remain in place for up to three years. Under the Share Repurchase Program Titan repurchased 2,653,786 shares of its common stock totaling $32.6 million during 2023. As of December 31, 2023, $17.4 million remains available for future share repurchases under this program. The Company records treasury stock using the cost method. The Company and the Russian Direct Investment Fund (RDIF) own all of the equity interests in Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia. On February 11, 2019, the Company entered into a definitive agreement (the Agreement) with an affiliate of the RDIF relating to the put option included in the Voltyre-Prom Shareholders' Agreement that was exercised by RDIF. In November 2021, Titan received regulatory approval for the issuance of restricted Titan common stock to RDIF. On December 17, 2021, the Company issued 4,032,259 shares of restricted Titan common stock to the RDIF equity holders subject to the Company's right to repurchase the shares for $25.0 million until February 12, 2022. On February 1, 2022, the Company entered into a Stock Purchase Agreement with the RDIF equity holders to buy back the restricted Titan common stock for the previously agreed amount of $25.0 million. The transaction was completed on February 1, 2022. Following the transaction, the Company and RDIF's ownership remained at 64.3% and 35.7%, respectively, of Voltyre-Prom.

VARIABLE INTEREST ENTITIES (Not

VARIABLE INTEREST ENTITIES (Notes)	12 Months Ended
	Dec. 31, 2023
Variable Interest Entity, Measure of Activity [Abstract]
Variable Interest Entity Disclosure [Text Block]	VARIABLE INTEREST ENTITIES The Company holds a variable interest in one joint venture at the end of December 31, 2023 and two joint ventures at the end of December 31, 2022 for which Titan is the primary beneficiary. In November 2023, Titan sold its 50% ownership in a joint venture that operates distribution facilities in Canada. At December 31, 2023, Titan is a 50% owner of a manufacturer of undercarriage components and complete track systems for earthmoving machines in India. The Company’s variable interests in these joint ventures relate to sales of Titan products to these entities, consigned inventory, and working capital loans. As the primary beneficiary of these variable interest entities (VIEs), the VIEs’ assets, liabilities, and results of operations are included in the Company’s consolidated financial statements. The other equity holders’ interests are reflected in “Net income attributable to noncontrolling interests” in the Consolidated Statements of Operations and “Noncontrolling interests” in the Consolidated Balance Sheets. The following table summarizes the carrying amount of the VIEs’ assets and liabilities included in the Company’s Consolidated Balance Sheets at December 31, 2023 and 2022 (amounts in thousands): 2023 2022 Cash and cash equivalents $ 355 $ 1,729 Inventory 1,431 2,581 Other current assets 2,364 4,179 Property, plant, and equipment, net 2,477 4,657 Other non-current assets 222 465 Total assets $ 6,849 $ 13,611 Current liabilities 1,117 2,077 Other long-term liabilities 869 1,062 Total liabilities $ 1,986 $ 3,139 All assets in the above table can only be used to settle obligations of the consolidated VIE to which the respective assets relate. Liabilities are non-recourse obligations. Amounts presented in the table above are adjusted for intercompany eliminations. The Company holds variable interests in certain VIEs that are not consolidated because Titan is not the primary beneficiary. The Company's involvement with these entities is in the form of direct equity interests and prepayments related to purchases of materials. The maximum exposure to loss represents the loss of assets recognized by Titan relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's Consolidated Balance Sheets related to Titan's interest in these non-consolidated VIEs and the Company's maximum exposure to loss relating to non-consolidated VIEs were as follows at December 31, 2023 and 2022 (amounts in thousands): 2023 2022 Investments $ 7,127 $ 6,827 Total VIE assets 7,127 6,827 Accounts payable to the non-consolidated VIEs 3,578 3,936 Maximum exposure to loss $ 10,705 $ 10,763

ROYALTY EXPENSE

ROYALTY EXPENSE	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
ROYALTY EXPENSE	ROYALTY EXPENSE The Company has trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm tires under the Goodyear name. These agreements cover sales in North America, Latin America, Europe, the Middle East, Africa, Russia, and other Commonwealth of Independent States countries. Each of these agreements is scheduled to expire in 2025. Royalty expenses recorded for the years ended December 31, 2023, 2022, and 2021, were $9.6 million, $11.7 million, and $10.5 million, respectively.

OTHER INCOME

OTHER INCOME	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
OTHER INCOME, NET	OTHER INCOME Other income consisted of the following for the years set forth below (amounts in thousands): 2023 2022 2021 Income on indirect taxes (a) $ 475 $ 32,043 $ — Loss on sale of Australia wheel business (b) — (10,890) — Proceeds from government grant (c) 319 1,324 — Gain on legal settlement (d) — — 1,750 Equity investment income 1,158 859 806 Gain on sale of assets 246 216 257 Other income (expense) 430 1,868 (727) $ 2,628 $ 25,420 $ 2,086 (a) In May 2022 and September 2022, the Brazilian tax authorities approved indirect tax credits to be applied against future tax obligations. Refer to Footnote 17 for additional information. (b) The loss on sale of the Australian wheel business is comprised primarily of the release of the cumulative translation adjustment of approximately $10.0 million and closing costs associated with the completion of the transaction of approximately $0.9 million. Refer to Footnote 1 for additional information. (c) For the year ended December 31, 2023, the Company received government subsidies associated with current year capital expenditure investments in technological and digital innovation in Europe, of which $0.3 million was recorded as other income. In addition, during August 2014, the Company received approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of our Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant. The Company received proceeds of an additional $1.9 million from the grant for the year ended December 31, 2022, of which $1.3 million was recorded as other income to match to the historical depreciation recorded on the underlying assets. Refer to Footnote 7 for additional information. (d) The gain on legal settlement relates to proceeds received from a steel supplier for the year ended December 31, 2021.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income before income taxes, consisted of the following for the years set forth below (amounts in thousands): 2023 2022 2021 Domestic $ 20,809 $ 73,361 $ (5,862) Foreign 88,939 128,992 56,902 $ 109,748 $ 202,353 $ 51,040 The income tax provision was as follows for the years set forth below (amounts in thousands): 2023 2022 2021 Current Federal $ (217) $ (55) $ (933) State 1,341 1,897 (160) Foreign 26,999 44,710 16,422 28,123 46,552 15,329 Deferred Federal (2,513) (14,953) — State 1,186 (10,959) — Foreign (754) 2,527 (14,180) (2,081) (23,385) (14,180) Income tax provision $ 26,042 $ 23,167 $ 1,149 The income tax provision differs from the amount of income tax determined by applying the statutory U.S. federal income tax rate to pre-tax income as a result of the following: 2023 2022 2021 Statutory U.S. federal tax rate 21.0 % 21.0 % 21.0 % Unrecognized tax positions — (0.3) (1.1) Foreign tax rate and income differential 9.6 11.7 13.0 Valuation allowance (3.5) (23.4) (33.9) State taxes, net 1.2 2.0 3.7 Nondeductible royalty 0.8 0.5 1.9 Federal Benefit of Notice 2023-55 (5.2) — — Equity based compensation — (0.3) (1.0) Nondeductible interest — — 1.5 Other, net (0.2) 0.2 (2.8) Effective tax rate 23.7 % 11.4 % 2.3 % The effective tax rate for the year ended December 31, 2023, was 23.7% compared to 11.4% for the year ended December 31, 2022. The effective rate for 2023 was negatively affected by the impacts of foreign income and state income taxes, which resulted in a net $10.5 million and $1.3 million tax expense, respectively. For 2023, the rate was positively impacted by the release of Notice 2023-55, resulting in a federal benefit of $5.7 million. After giving consideration to these items, the effective tax rate for 2023 of 23.7% was higher than the 21% U.S. federal statutory rate. In December 2021, the U.S. Treasury Department released final regulations concerning the U.S foreign tax credit. In November 2022, the U.S. Treasury Department and IRS released proposed regulations which provided additional guidance relating to the credits for foreign taxes. As a result, for 2022 the Company did not expect to receive a credit for Brazilian income taxes paid for U.S. tax purposes. This resulted in US tax associated with the Brazilian income, which led to a higher impact of foreign income in the rate for 2022. In July 2023, the IRS released Notice 2023-55. This notice generally allows a taxpayer that determined foreign taxes were creditable prior to the 2022 FTC final regulations to continue to treat such foreign income taxes as creditable during 2022 and 2023. Thus, this notice allows Titan to continue to take the position Brazilian income taxes are creditable taxes for 2023. Furthermore, it allowed Titan to take the position on its 2022 tax return that the Brazilian income taxes are creditable, resulting in a $5.7 million federal benefit. In jurisdictions where the Company operates, management continues to monitor the realizability of the deferred tax assets arising from losses in its cyclical business, taking into account multiple factors. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. The Company continues to record a valuation allowance in several major jurisdictions, including various U.S. states, Italy, and Luxembourg as these amounts remain more likely than not that the deferred tax assets would not be utilized. The Company released a valuation allowance of $0.6 million and $53.3 million on the net deferred tax asset in 2023 and 2022, respectively. These amounts are primarily related to net operating losses generated from operations in these certain countries. The Company is involved in various tax matters, for some of which the outcome is uncertain. The Company believes that it has adequate tax reserves to address these open tax matters acknowledging that the outcome and timing of these events are uncertain. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2023 and 2022, were as follows (amounts in thousands): 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 115,336 $ 117,646 Inventory 8,492 7,001 Warranty 6,496 5,587 Employee benefits and related costs 8,130 8,394 Prepaid royalties 1,576 2,145 Interest limitation 17,851 16,361 Lease liability 4,390 3,951 Intangible assets 1,592 1,105 Other 15,322 14,045 Deferred tax assets 179,185 176,235 Deferred tax liabilities: Fixed assets (11,577) (11,978) Lease assets (4,384) (3,869) Pension (3,740) (1,169) Other (4,150) (2,851) Deferred tax liabilities (23,851) (19,867) Subtotal 155,334 156,368 Valuation allowance (119,535) (121,057) Net deferred tax asset (liability) $ 35,799 $ 35,311 As of December 31, 2023 and 2022, certain net tax loss carryforwards of $115.3 million and $117.6 million were available with $1.7 million expiring between 2023 and 2028 and $113.6 million expiring after 2028. At December 31, 2023, a valuation allowance of $119.5 million has been established. The net change in the valuation allowance was $(1.5) million and $(52.1) million for 2023 and 2022, respectively. The majority of the valuation allowance is related to deferred tax assets in the U.S., Italy, and Luxembourg. As of December 31, 2023, the Company has $61.6 million of gross federal net operating loss carryforward, a portion of which expires starting in 2035 and a portion of which does not expire. Additionally, the Company has $290.7 million of gross state net operating losses and $356.5 million of gross foreign loss carryforwards. The Company has not changed its indefinite reinvestment assertion during the year and has not accrued any potential incremental taxes which could be incurred if any foreign earnings are repatriated. The Company has not calculated the potential foreign withholding taxes as the Company does not expect to repatriate those earnings. The Company or one of its subsidiaries files income tax returns in the U.S., Federal and State, and various foreign jurisdictions. The Company’s major locations are in the U.S., Brazil, and Italy. Open tax years for the U.S. are from 2020-2023, Brazil has open tax years from 2017-2023, and Italy has open tax years from 2017-2023. The Company has applied the provisions of ASC 740, “Income Taxes” related to unrecognized tax benefits. At December 31, 2023, 2022, and 2021, the unrecognized tax benefits were $0.0 million, $0.0 million, and $0.1 million, respectively. As of December 31, 2023, $0.0 million of unrecognized tax benefits would have affected income tax expense if the tax benefits were recognized. The majority of the accrual in unrecognized tax benefits relates to potential state tax exposures. Although management cannot predict with any degree of certainty the timing of ultimate resolution of matters under review by various taxing jurisdictions, it is possible that the Company’s gross unrecognized tax benefits balance will decrease by approximately $0.0 million within the next twelve months. A reconciliation of the total amounts of unrecognized tax benefits at December 31 were as follows (amounts in thousands): 2023 2022 2021 Balance at January 1 $ 30 $ 540 $ 1,012 Increases to tax positions taken during the current year — — — Increases to tax positions taken during the prior years — — — Decreases to tax positions taken during prior years — — — Decreases due to lapse of statutes of limitations (7) (506) (473) Settlements — — — Foreign exchange — (4) 1 Balance at December 31 $ 23 $ 30 $ 540 The Company accrues interest and penalties related to unrecognized tax benefits in income tax expense. The amount of interest and penalties related to unrecognized tax benefits recorded in income tax expense was $0.0 million, $0.0 million, and $(0.2) million at December 31, 2023, 2022 and 2021, respectively. There were no accrued interest and penalties excluded at December 31, 2023, 2022, and 2021. Brazilian Tax Credits In June 2021, the Company’s Brazilian subsidiaries received a notice that they had prevailed on an existing legal claim in regards to certain non-income (indirect) taxes that had been previously charged and paid. The matter specifically relates to companies’ rights to exclude the state tax on goods circulation (a value-added-tax or VAT equivalent, known in Brazil as “ICMS”) from the calculation of certain additional indirect taxes (specifically the program of social integration (“PIS”) and contribution for financing of social security (“COFINS”) levied by the Brazilian States on the sale of goods. During the second quarter of 2023, one of the Company’s Brazilian subsidiaries received a notice that they had prevailed on an additional legal claim in regards to the non-income (indirect) taxes credits that had been granted in a prior year ruling. The most recent ruling exempted from taxes, the interest benefit on the indirect tax credits granted in prior year. For the year ended December 31, 2023, the Company recorded indirect tax credits of $0.5 million within other income in the consolidated statements of operations. The Company also recorded a $2.6 million benefit within the provision for income taxes in the consolidated statements of operations for the year ended December 31, 2023. During the second and third quarter of 2022, the Company submitted the related supporting documentation and received the approval from the Brazilian tax authorities for two of its Brazilian subsidiaries. For the year ended December 31, 2022, the Company recorded $32.0 million within other income in the consolidated statements of operations. The Company also recorded $16.1 million of income tax expense associated with the recognition of these indirect tax credits for the year ended December 31, 2022. Of the $16.1 million income tax expense recorded, $9.4 million was recorded locally in Brazil, while the remaining $6.7 million was recorded to the US in accordance with the GILTI income tax requirements. The Company has fully utilized the credits against future PIS/COFINS and income tax obligations by the end of 2023.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Pension plans The Company has three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. The Company also has pension plans covering certain employees of several foreign subsidiaries. The Company’s policy is to fund pension costs as required by law, which is consistent with the funding requirements of federal laws and regulations. Certain foreign subsidiaries maintain unfunded pension plans consistent with local practices and requirements. The Company’s recorded liability for pensions is based on a number of assumptions, including discount rates, rates of return on investments, mortality rates, and other factors. Certain of these assumptions are determined by the Company with the assistance of outside actuaries. Assumptions are based on past experience and anticipated future trends. These assumptions are reviewed on a regular basis and revised when appropriate. The following table provides the change in benefit obligation, change in plan assets, funded status, and amounts recognized in the Consolidated Balance Sheet of the defined benefit pension plans as of December 31, 2023 and 2022 (amounts in thousands): Change in benefit obligation: 2023 2022 Benefit obligation at beginning of year $ 79,379 $ 106,587 Plan amendments 1,391 — Service cost 606 590 Interest cost 4,331 2,872 Disposition of Australia benefit obligation — (853) Actuarial gain (632) (19,991) Benefits paid (7,588) (8,866) Foreign currency translation (279) (960) Benefit obligation at end of year $ 77,208 $ 79,379 Change in plan assets: Fair value of plan assets at beginning of year $ 75,025 $ 97,007 Actual return on plan assets 14,558 (14,179) Employer contributions 442 436 Benefits paid (7,294) (8,228) Foreign currency translation 38 (11) Fair value of plan assets at end of year $ 82,769 $ 75,025 Funded (unfunded) status at end of year $ 5,561 $ (4,354) Amounts recognized in Consolidated Balance Sheet: Noncurrent assets $ 19,566 $ 11,241 Current liabilities (1,210) (1,718) Noncurrent liabilities (12,795) (13,877) Net amount recognized in the Consolidated Balance Sheet $ 5,561 $ (4,354) The pension benefit obligation included $63.7 million of pension benefit obligation for the three frozen plans in the U.S. and $13.5 million of pension benefit obligation for plans at foreign subsidiaries. The fair value of plan assets included $82.0 million of plan assets for the three frozen plans in the U.S. and $0.8 million of plan assets for foreign plans. Information for pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets were (amounts in thousands): 2023 2022 Pension Plans in which Accumulated Benefit Obligation Exceeds Plan Assets at December 31, Accumulated benefit obligation $ 44,976 $ 45,225 Fair value of plan assets $ 31,903 $ 30,558 Accumulated Benefit Obligation at December 31 $ 76,746 $ 78,853 Pension Plans in which Projected Benefit Obligation Exceeds Plan Assets at December 31, Projected benefit obligation $ 45,439 $ 45,751 Fair value of plan assets $ 31,903 $ 30,558 Projected Benefit Obligation at December 31 $ 77,208 $ 79,379 Amounts recognized in accumulated other comprehensive loss: 2023 2022 Unrecognized prior service cost $ 634 $ 643 Unrecognized net loss (11,480) (21,091) Deferred tax effect of unrecognized items 8,518 11,181 Net amount recognized in accumulated other comprehensive loss $ (2,328) $ (9,267) The weighted-average assumptions used in the actuarial computation that derived the benefit obligations at December 31 were as follows: 2023 2022 Discount rate 5.2 % 5.8 % Expected long-term return on plan assets 6.5 % 6.5 % The following table provides the components of net periodic pension cost for the plans, settlement cost, and the assumptions used in the measurement of the Company’s benefit obligation for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands): Components of net periodic benefit cost and other Net periodic benefit cost: 2023 2022 2021 Service cost $ 606 $ 590 $ 655 Interest cost 4,331 2,872 2,880 Assumed return on assets (4,669) (6,071) (6,024) Amortization of unrecognized prior service cost (114) (85) (95) Amortization of net unrecognized loss 1,004 1,426 2,805 Net periodic pension cost (benefit) $ 1,158 $ (1,268) $ 221 Service cost is recorded as cost of sales in the Consolidated Statement of Operations while all other components are recorded in other income. The weighted-average assumptions used in the actuarial computation that derived net periodic pension cost for the years ended December 31, 2023, 2022, and 2021 were as follows: 2023 2022 2021 Discount rate 5.8 % 2.7 % 1.4 % The allocation of the fair value of plan assets was as follows: Percentage of Plan Assets Target Asset Category 2023 2022 2023 U.S. equities (a) 57 % 62 % 40% - 80% Fixed income 21 % 23 % 20% - 50% Cash and cash equivalents 10 % 8 % 0% - 20% International equities (a) 12 % 7 % 0% - 16% 100 % 100 % (a) Total equities may not exceed 80% of total plan assets. The majority of the Company's foreign plans do not have plan assets. The foreign plans which have plan assets holds these plan assets in an insurance or money market fund. The fair value of the plan assets by asset categories consisted of the following as of the dates set forth below (amounts in thousands): Fair Value Measurements as of December 31, 2023 Total Level 1 Level 2 Level 3 Money market funds $ 8,186 $ 8,186 $ — $ — Common stock 27,658 27,658 — — Bonds and securities 10,302 10,302 — — Mutual and insurance funds 36,623 35,828 795 — Totals $ 82,769 $ 81,974 $ 795 $ — Fair Value Measurements as of December 31, 2022 Total Level 1 Level 2 Level 3 Money market funds $ 5,377 $ 5,377 $ — $ — Common stock 29,759 29,759 — — Bonds and securities 4,891 4,891 — — Mutual and insurance funds 34,998 34,084 914 — Totals $ 75,025 $ 74,111 $ 914 $ — The Company invests in a diversified portfolio consisting of an array of asset classes in an attempt to maximize returns while minimizing risk. These asset classes include U.S. equities, fixed income, cash and cash equivalents, international equities and REITs. The investment objectives are to provide for the growth and preservation of plan assets on a long-term basis through investments in: investment grade securities that provide investment returns that meet or exceed the Standard & Poor’s 500 Index and investment grade fixed income securities that provide investment returns that meet or exceed the Barclays Capital Aggregate Bond Index. The U.S. equities asset category included the Company’s common stock in the amount of $1.9 million (approximately two percent of total plan assets) at December 31, 2023, and $2.6 million (approximately three percent of total plan assets) at December 31, 2022. The fair value of money market funds, stock, bonds, U.S. government securities and mutual funds is determined based on valuation for identical instruments in active markets. The long-term rate of return for plan assets is determined using a weighted-average of long-term historical approximate returns on cash and cash equivalents, fixed income securities, and equity securities considering the anticipated investment allocation within the plans. The expected return on plan assets is anticipated to be 6.5% over the long-term. This rate assumes long-term historical returns of approximately 8.5% for equities and approximately 4.0% for fixed income securities using the plans’ target allocation percentages. Professional investment firms, none of which are Titan employees, manage the plan assets. Based on the 2023 minimum pension funding calculations, the Company does not anticipate any minimum funding requirements. Projected benefit payments from the plans as of December 31, 2023, are estimated as follows (amounts in thousands): 2024 $ 8,235 2025 7,471 2026 7,273 2027 6,793 2028 7,006 2029-2033 29,080 401(k)/Defined contribution plans The Company sponsors two 401(k) retirement savings plans in the U.S. and a number of defined contribution plans at foreign subsidiaries. One U.S. plan is for the benefit of substantially all employees who are not covered by a collective bargaining arrangement. Titan provides a 50% matching contribution in the form of the Company’s common stock on the first 6% of the employee’s contribution in this plan. The Company issued 144,439 shares, 124,645 shares and 175,267 shares of common stock in connection with this 401(k) plan during 2023, 2022, and 2021, respectively. Expenses to the Company related to this common stock matching contribution were $1.8 million, $1.7 million, and $1.4 million for 2023, 2022, and 2021, respectively. The other U.S. 401(k) plan is for employees covered by collective bargaining agreements and does not include a Company matching contribution. Expenses related to foreign defined contribution plans were $3.7 million, $4.1 million, and $3.8 million for 2023, 2022, and 2021, respectively.

STOCK COMPENSATION

STOCK COMPENSATION	12 Months Ended
	Dec. 31, 2023
STOCK OPTION PLANS [Abstract]
STOCK OPTION PLANS	STOCK COMPENSATION The Company recorded stock compensation of $6.0 million, $4.3 million, and $4.3 million in 2023, 2022, and 2021, respectively. Titan International, Inc. Equity and Incentive Compensation Plan The Company adopted a new Titan International, Inc. Equity and Incentive Compensation Plan at the 2021 Annual Meeting of Stockholders to provide stock compensation as a means of attracting and retaining qualified independent directors and employees for the Company. A total of 3.0 million shares are available for future issuance under the equity incentive plan at December 31, 2023. Stock Options Under the Company's Equity Incentive plan (or its predecessor plan), the Company granted no stock options in 2023, 2022, and 2021. The exercise price of stock options may not be less than the fair market value of the common stock on the date of the grant. The vesting and term of each option is set by the Board of Directors. All options outstanding at December 31, 2023 are fully vested and expire 10 years from the grant date. The following is a summary of activity in stock options during the year ended December 31, 2023: Shares Subject Weighted-Average Aggregate Intrinsic Value (in thousands) Exercise Price Remaining Contractual Life (in Years) Outstanding, December 31, 2022 408,200 $ 13.45 3.16 Granted — — Exercised — — Forfeited/Expired (60,000) 24.07 Outstanding, December 31, 2023 348,200 $ 11.62 2.64 $ 1,223 Exercisable, December 31, 2023 348,200 $ 11.62 2.64 $ 1,223 The Company uses the Black-Scholes option pricing model to determine the fair value of its stock options. The determination of the fair value of stock option awards on the date of grant using option pricing models is affected by the Company’s stock price, as well as assumptions regarding a number of complex and subjective variables. These variables include the Company’s expected stock price volatility over the expected term of the awards, actual and projected stock option exercise behaviors, risk-free interest rates, and expected dividends. The expected term of options represents the period of time over which options are expected to be outstanding and is estimated based on historical experience. Expected volatility is based on the historical volatility of the Company’s common stock calculated over the expected term of the option. The risk-free interest rate is based on U.S. Treasury yields in effect at the date of grant. Restricted Stock Units and Performance Stock Units Under the Company's Equity Incentive plan (or its predecessor plan), the Company granted restricted stock units (RSU) to eligible employee and the members of the Company's Board of Directors. The restricted stock units to employees vest over a period of three years. The restricted stock units to the members of the Company's Board of Directors vest over a period of one year. During 2023, 2022 and 2021, 571,530, 552,992, and 438,195 RSU shares were granted, respectively. The Company recorded $5.1 million, $3.4 million and $3.4 million stock compensation expense associated with RSUs for the year ended December 31, 2023, 2022, and 2021, respectively. On December 28, 2021, the Company awarded certain named executive officers grants of long-term performance stock units (PSU) based on the achievement of certain adjusted-EBITDA targets for the fiscal years commencing January 1, 2021 and ending December 31, 2024. The number of shares earned could range between 0% and 125% of the target amount depending upon performance achieved over the four year vesting period. The Company recorded $0.9 million, $0.9 million and $0.9 million of stock compensation expense associated with PSUs for the year ended December 31, 2023, 2022, and 2021, respectively. A summary of RSU and PSU activity for the year ended December 31, 2023, is presented in the following table: RSU PSU Total Shares Weighted-Average Grant Date Fair Value Unvested at December 31, 2022 (a) 876,888 328,948 1,205,836 $ 10.37 Granted 571,530 — 571,530 11.50 Vested (453,439) — (453,439) 8.99 Forfeited/Expired (21,333) — (21,333) 11.54 Unvested at December 31, 2023 973,646 328,948 1,302,594 $ 11.33 (a) PSU awards are presented at maximum payout of 125% of the target amount at grant date. Pre-tax unrecognized compensation expense for unvested RSUs and PSUs was $8.3 million at December 31, 2023, and will be recognized as an expense over a weighted-average period of 1.2 years. The fair value of shares vested, based on the stock's fair value on the vesting date, was $5.1 million, $6.0 million, and $7.5 million for the years ended December 31, 2023, 2022, and 2021, respectively.

LITIGATION

LITIGATION	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	LITIGATION The Company is a party to routine legal proceedings arising out of the normal course of business. Due to the difficult nature of predicting unresolved and future legal claims, the Company cannot anticipate or predict the material adverse effect on its consolidated financial condition, results of operations, or cash flows as a result of efforts to comply with, or liabilities pertaining to, legal judgments. In the opinion of management, the Company is not currently involved in any legal proceedings which, individually or in the aggregate, could have a material effect on its financial position, results of operations, or cash flows.

LEASE COMMITMENTS

LEASE COMMITMENTS	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Lessee, Operating Leases	LEASES The Company leases certain buildings and equipment under both operating and finance leases. Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. Under ASC 842, the Company made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of Titan's leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of Titan's leases do not provide an implicit interest rate, the Company used its incremental borrowing rate (7.27%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the Consolidated Statement of Operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the Consolidated Statement of Operations. For the years ended December 31, 2023, 2022, and 2021, operating lease expense was $5.6 million, $5.1 million, and $6.1 million, respectively, and finance lease amortization expense was $3.0 million, $2.6 million, and $3.8 million, respectively. Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification 2023 Operating lease ROU assets Operating lease assets $ 11,955 Operating lease current liabilities Other current liabilities $ 5,021 Operating lease long-term liabilities Other long-term liabilities 6,153 Total operating lease liabilities $ 11,174 Finance lease, gross Property, plant & equipment, net $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (3,489) Finance lease, net $ 1,686 Finance lease current liabilities Other current liabilities $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,321 Total finance lease liabilities $ 2,414 At December 31, 2023, maturity of lease liabilities were as follows (amounts in thousands): Operating Leases Finance Leases 2024 $ 5,302 $ 1,185 2025 3,315 787 2026 2,592 528 2027 533 83 2028 251 14 Thereafter 411 — Total future minimum lease payments $ 12,404 $ 2,597 Less imputed interest 1,230 183 $ 11,174 $ 2,414 Weighted average remaining lease term (in years) 3.18 2.41 Supplemental cash flow information related to leases for the year ended December 31, 2023 were as follows: operating cash flows from operating leases were $6.8 million and operating cash flows from finance leases were $0.2 million. Supplemental cash flow information related to leases for the year ended December 31, 2022 were as follows: payments on operating leases were $9.2 million and payments on finance leases were $0.2 million.
Lessee, Finance Leases	LEASES The Company leases certain buildings and equipment under both operating and finance leases. Certain lease agreements provide for renewal options, fair value purchase options, and payment of property taxes, maintenance, and insurance by the Company. Under ASC 842, the Company made an accounting policy election, by class of underlying asset, not to separate non-lease components such as those previously stated from lease components and instead will treat the lease agreement as a single lease component for all asset classes. Operating right-of-use (ROU) assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent Titan's obligations to make lease payments arising from the lease. The majority of Titan's leases are operating leases. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of Titan's leases do not provide an implicit interest rate, the Company used its incremental borrowing rate (7.27%), based on the information available at the lease commencement date, in determining the present value of lease payments. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales and selling, general and administrative expenses on the Consolidated Statement of Operations. Amortization expense associated with finance leases is included in cost of sales and selling, general and administrative expenses, and interest expense associated with finance leases is included in interest expense in the Consolidated Statement of Operations. For the years ended December 31, 2023, 2022, and 2021, operating lease expense was $5.6 million, $5.1 million, and $6.1 million, respectively, and finance lease amortization expense was $3.0 million, $2.6 million, and $3.8 million, respectively. Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification 2023 Operating lease ROU assets Operating lease assets $ 11,955 Operating lease current liabilities Other current liabilities $ 5,021 Operating lease long-term liabilities Other long-term liabilities 6,153 Total operating lease liabilities $ 11,174 Finance lease, gross Property, plant & equipment, net $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (3,489) Finance lease, net $ 1,686 Finance lease current liabilities Other current liabilities $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,321 Total finance lease liabilities $ 2,414 At December 31, 2023, maturity of lease liabilities were as follows (amounts in thousands): Operating Leases Finance Leases 2024 $ 5,302 $ 1,185 2025 3,315 787 2026 2,592 528 2027 533 83 2028 251 14 Thereafter 411 — Total future minimum lease payments $ 12,404 $ 2,597 Less imputed interest 1,230 183 $ 11,174 $ 2,414 Weighted average remaining lease term (in years) 3.18 2.41 Supplemental cash flow information related to leases for the year ended December 31, 2023 were as follows: operating cash flows from operating leases were $6.8 million and operating cash flows from finance leases were $0.2 million. Supplemental cash flow information related to leases for the year ended December 31, 2022 were as follows: payments on operating leases were $9.2 million and payments on finance leases were $0.2 million.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Notes)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	PURCHASE OBLIGATIONS The purchase obligations mainly consist of commitments for raw material purchases and equipment associated with our global manufacturing operations. At December 31, 2023, the Company's expected cash outflow resulting from non-cancellable purchase obligations are summarized by year in the table below (amounts in thousands): 2024 $ 37,688 2025 869 2026 4 Total non-cancellable purchase obligations $ 38,561

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT AND GEOGRAPHICAL INFORMATION The Company has aggregated its operating units into reportable segments based on its three customer markets: agricultural, earthmoving/construction, and consumer. These segments are based on the information used by the chief executive officer to make certain operating decisions, allocate portions of capital expenditures and assess segment performance. The accounting policies of the segments are the same as those described in Note 1, “Description of Business and Significant Accounting Policies.” Segment external revenues, expenses, and income from operations are determined on the basis of the results of operations of operating units of manufacturing facilities. Segment assets are generally determined on the basis of an allocation of the tangible assets located at such operating units’ manufacturing facilities and the intangible assets associated with the acquisitions of such operating units. However, certain operating units’ property, plant, and equipment balances are carried at the corporate level. Titan is organized primarily on the basis of products being included in three marketing segments, with each reportable segment including wheels, tires, wheel/tire assemblies, and undercarriage systems and components. Given the integrated manufacturing operations and common administrative and marketing support, a substantial number of allocations primarily based on segment sales data must be made to determine operating segment data. The table below presents information about certain operating results of segments as reviewed by the chief operating decision maker of the Company as of and for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands): 2023 2022 2021 Revenues from external customers Agricultural $ 980,537 $ 1,192,239 $ 949,400 Earthmoving/construction 687,758 807,356 693,350 Consumer 153,505 169,785 137,465 $ 1,821,800 $ 2,169,380 $ 1,780,215 Gross profit Agricultural $ 163,026 $ 193,585 $ 135,807 Earthmoving/construction 110,690 135,788 83,705 Consumer 32,133 31,337 18,030 $ 305,849 $ 360,710 $ 237,542 Income from operations Agricultural $ 100,642 $ 130,474 $ 77,666 Earthmoving/construction 55,122 79,810 27,809 Consumer 22,380 22,843 9,553 Corporate & Unallocated (29,417) (27,325) (29,853) Income from operations 148,727 205,802 85,175 Interest expense (18,785) (29,796) (32,221) Loss on senior note repurchase — — (16,020) Foreign exchange (loss) gain (22,822) 927 12,020 Other income, net 2,628 25,420 2,086 Income before income taxes $ 109,748 $ 202,353 $ 51,040 Capital expenditures Agricultural $ 32,306 $ 25,738 $ 20,749 Earthmoving/construction 23,249 17,576 15,014 Consumer 5,244 3,660 3,039 $ 60,799 $ 46,974 $ 38,802 Depreciation & amortization Agricultural $ 21,405 $ 22,645 $ 25,082 Earthmoving/construction 15,185 15,337 18,428 Consumer 3,404 3,226 3,621 Corporate & Unallocated 2,440 1,539 860 $ 42,434 $ 42,747 $ 47,991 Total assets Agricultural $ 559,607 $ 548,523 $ 517,528 Earthmoving/construction 497,508 538,064 502,373 Consumer 155,602 133,213 133,906 Corporate & Unallocated (a) 76,528 64,830 28,878 $ 1,289,245 $ 1,284,630 $ 1,182,685 (a) Unallocated assets included cash of approximately $32 million, $20 million, and $7 million as of December 31, 2023, 2022, and 2021, respectively. The table below presents information by geographic area. Revenues from external customers were determined based on the location of the selling subsidiary. Geographic information as of and for the years ended December 31, 2023, 2022, and 2021 was as follows (amounts in thousands): 2023 2022 2021 Net Sales United States $ 814,676 $ 1,074,715 $ 835,985 Europe / CIS 558,677 577,877 479,724 Latin America 354,979 422,439 318,879 Other international 93,468 94,349 145,627 $ 1,821,800 $ 2,169,380 $ 1,780,215 Long-Lived Assets United States $ 107,639 $ 97,112 $ 98,307 Europe / CIS 142,749 138,617 146,547 Latin America 61,169 49,714 42,599 Other international 10,137 11,162 13,656 $ 321,694 $ 296,605 $ 301,109 The table below presents information by products and reportable segments as of and for the years ended December 31, 2023, 2022 and 2021 (amounts in thousands): 2023 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 935,274 $ 258,709 $ 130,297 $ 1,324,280 Undercarriage systems and components 45,263 429,049 23,208 497,520 Total $ 980,537 $ 687,758 $ 153,505 $ 1,821,800 2022 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 1,152,933 $ 329,403 $ 147,307 $ 1,629,643 Undercarriage systems and components 39,306 477,953 22,478 539,737 Total $ 1,192,239 $ 807,356 $ 169,785 $ 2,169,380 2021 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 913,065 $ 292,553 $ 116,405 $ 1,322,023 Undercarriage systems and components 36,335 400,797 21,060 458,192 Total $ 949,400 $ 693,350 $ 137,465 $ 1,780,215

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Earnings per share for 2023, 2022, and 2021 were as follows (amounts in thousands, except per share data): 2023 2022 2021 Net income applicable to common shareholders $ 78,760 $ 176,302 $ 49,586 Determination of shares: Weighted average shares outstanding (basic) 62,452 63,040 62,100 Effect of restricted stock and stock options 509 651 585 Weighted average shares outstanding (diluted) 62,961 63,691 62,685 Earnings per share: Basic $ 1.26 $ 2.80 $ 0.80 Diluted $ 1.25 $ 2.77 $ 0.79

SUBSEQUENT EVENTS (Notes)

SUBSEQUENT EVENTS (Notes)	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Acquisition of The Carlstar Group Subsequent to Year-End On February 29, 2024, Titan International, Inc. acquired 100% of the Carlstar Group ("Carlstar") stock for a purchase price of $296.2 million consisting of $168.7 million in Titan International, Inc.’s stock based on the previous 45-day average price and $127.5 million in cash pursuant to an agreement dated February 29, 2024, and subject to agreed upon working capital target and escrow provisions. Carlstar is a global manufacturer and distributor of wheels and tires for a variety of end-market verticals including outdoor power equipment, power sports, trailers, and small to midsize agricultural and construction equipment. Carlstar employs over 3,400 associates in 17 manufacturing and distribution facilities located in four countries and provides solutions to customers in North America, Europe and China. In connection with the acquisition, Titan completed a new domestic credit facility which was effective on February 29, 2024. The new credit facility, with Bank of America as agent, was increased to $225.0 million (previously $125.0 million) with the amount available under the credit facility determined based upon cash, eligible accounts receivable and eligible inventory balances at certain domestic and Canadian subsidiaries. The credit facility has a five-year term and can be expanded by up to $50.0 million through an accordion provision within the agreement. The new facility has terms similar to those contained in the previous credit facility as well as other enhancements to further improve the availability within the borrowing base. The acquisition qualifies as a business combination and will be accounted for using the acquisition method of accounting.

SCHEDULE II - VALUATION RESERVE

SCHEDULE II - VALUATION RESERVES	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II – VALUATION RESERVES	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS Reserves deducted in the balance sheet from the assets to which it applies (amounts in thousands): Additions Deductions Description Balance at Beginning Charged to Costs and Expenses Charged to Other Accounts Charged to Costs and Expenses Charged to Other Accounts Balance Year ended December 31, 2023 Allowance for credit loss $ 6,170 $ 50 $ — $ (880) $ — $ 5,340 Deferred income tax valuation allowance: Domestic 41,671 — — (3,117) — 38,554 Foreign 79,386 94 2,369 (868) — 80,981 Year ended December 31, 2022 Allowance for credit loss $ 4,550 $ 1,646 $ — $ (26) $ — $ 6,170 Deferred income tax valuation allowance: Domestic 94,747 — — (53,076) — 41,671 Foreign 78,425 19,503 — (13,833) (4,709) 79,386 Year ended December 31, 2021 Allowance for credit loss $ 3,782 $ 826 $ — $ (58) $ — $ 4,550 Deferred income tax valuation allowance: Domestic 98,051 — — (1,034) (2,270) 94,747 Foreign 101,125 3,712 — (20,108) (6,304) 78,425

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income applicable to common shareholders	$ 78,760	$ 176,302	$ 49,586

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The consolidated financial statements include the accounts of all majority-owned subsidiaries and variable interest entities in which Titan is the primary beneficiary. Investments in companies in which Titan does not own a majority interest, but which Titan has the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Investments in other companies are carried at cost. All significant intercompany accounts and transactions have been eliminated.
Cash equivalents	Cash and cash equivalents The Company considers short-term debt securities with an original maturity of three months or less to be cash equivalents. The cash in the Company's U.S. banks is not fully insured by the Federal Deposit Insurance Corporation. The Company had $186.1 million and $132.8 million of cash in foreign bank accounts at December 31, 2023 and 2022, respectively. The Company's cash in its foreign bank accounts is not fully insured.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts receivable and allowance for credit loss The Company carries its accounts receivable at their face amounts less an allowance for credit loss. An allowance for credit loss is recorded based upon the best estimate of credit losses in accounts receivable. In order to monitor credit risks associated with our customer base, credit worthiness of our existing customer base is reviewed on a periodic basis. At the end of each reporting period, the allowance for credit loss is reviewed relative to management's collectability assessment and adjusted if deemed necessary. The factors considered in this review include known bad debt risks and past loss history. Actual collection experience may differ from the current estimate of net receivables.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. The Company’s inventories are valued under the first in, first out (FIFO) method or average cost method. Net realizable value is estimated based on current selling prices. Estimated provisions are established for slow-moving and obsolete inventory.
Fixed assets	Fixed assets Property, plant, and equipment have been recorded at cost. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets: Years Building and improvements 25 - 40 Machinery and equipment 7 - 20 Tools, dies, and molds 2 - 9 Maintenance and repairs are expensed as incurred. When property, plant, and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are eliminated, and any gain or loss on disposition is included in the accompanying Consolidated Statements of Operations.
Fair value of financial instruments	Fair value of financial instruments The Company records all financial instruments, including cash and cash equivalents, accounts receivable, notes receivable, accounts payable, and notes payable at cost, which approximates fair value due to their short term or stated rates. Investments in marketable equity securities are recorded at fair value. Our 7.0% senior secured notes due 2028 (the senior secured notes due 2028) were carried at cost of $396.3 million at December 31, 2023. The fair value of the senior secured notes due 2028 at December 31, 2023, as obtained through an independent pricing source, was approximately $401.4 million.
Equity Method Investments [Policy Text Block]	Investments The Company assesses the carrying value of its equity method investments whenever events and circumstances indicate that the carrying values may not be recoverable. Investment write-downs, if necessary, are recognized in operating results when expected undiscounted future cash flows are less than the carrying value of the asset. These write-downs, if any, are measured as the excess of the carrying value of the asset over the discounted expected future cash flows or the estimated fair value of the asset. The Company uses the cost method to account for investments in entities that are not consolidated or accounted for under the equity method. Under the cost method, investments are reported at cost in other long-term assets on the Consolidated Balance Sheets. The carrying value of these investments was $7.1 million and $6.9 million as of December 31, 2023, and December 31, 2022, respectively. The fair values of cost method investments are not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair values of the investments.
Foreign currency translation	Foreign currency translation The financial statements of the Company’s foreign subsidiaries are translated to United States dollars. Assets and liabilities are translated to United States dollars at period-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the period. Translation adjustments are included in “Accumulated other comprehensive loss” in stockholders’ equity. Gains and losses that result from foreign currency transactions are included in the accompanying Consolidated Statements of Operations. Hyperinflation in Argentina and Turkey In July 2018 and March 2022, the three-year cumulative rate of inflation for consumer prices and wholesale prices reached a level in excess of 100% for Argentina and Turkey, respectively. As a result, in accordance with ASC 830 Foreign Currency Matters, Argentina and Turkey were considered hyperinflationary economies and the Company applied the standard for the year ended December 31, 2023. The impacts of hyperinflation in Argentina and Turkey were not material in the prior periods since Argentina and Turkey became hyperinflationary economies. In accordance with ASC 830, the Argentine and Turkish subsidiary's nonmonetary assets and liabilities, as well as related expenses such as depreciation, are remeasured into US dollars by applying the foreign exchange rate as of the date each respective entity became hyperinflationary. Monetary assets and liabilities are remeasured into US dollars using the current exchange rates as of December 31, 2023. Any resulting gains or losses on these monetary assets and liabilities are reported in net income within the consolidated statements of operations. Upon the application of ASC 830 during the year ended December 31, 2023, the Company recognized a net monetary loss of $15.5 million recorded in foreign exchange (loss) gain in the consolidated statements of operations. Of the $15.5 million recorded, $7.3 million relates to the foreign exchange loss with the offset to accumulated other comprehensive income (loss) for the prior period's impact of the application of hyperinflation accounting in Argentina and Turkey. The Company recorded the prior period impact in the current year financial statements as the impact of this out of period adjustment, individually and in the aggregate, was not material to any previously reported quarterly or annual financial statements and is not material to the 2023 annual financial statements.
Revenue recognition	Revenue recognition The Company derives revenues primarily from the sale of wheels, tires, tires/wheels assemblies, and undercarriage systems and components. The Company follows the five-step model to determine when to recognize revenue: (1) identify the contract(s) with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when the entity satisfies a performance obligation. In most arrangements within the Company, contracts with the customer are identified through the receipt of a purchase order, which also define the terms of the contract including the performance obligations or products to be sold, and specific transaction prices associated with the products. In some other arrangements, a master agreement exists that defines pertinent contract terms such as products and price. Purchase orders are then issued under the master agreement for specific quantities of products, which are fulfilled at the specified price at a given point in time. Generally, the Company’s performance obligations under the contracts are satisfied when there is transfer of control of the products to our customers, which is primarily upon shipment or, in certain instances, upon delivery of the products to the named customer location. The payment terms and conditions in our contracts vary and are customary within the geographies that we serve. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. Revenues are stated net of returns, discounts and allowances, which are determined based on historical experience. Customer discounts and allowances, consisting primarily of volume discounts and other short-term incentive programs, are recorded as a reduction of revenue at the time of sale because these allowances reflect a reduction in the transaction price. Costs to obtain or fulfill a contract with a customer, such as sales commissions to agents and internal sales employees, are recognized as an expense when incurred since the amortization period would be one year or less. Shipping and handling costs are included as a component of cost of sales. Revenue derived from shipping and handling costs billed to customers is included in sales.
Cost of sales	Cost of sales Cost of sales is comprised primarily of direct materials and supplies consumed in the manufacturing of the Company’s products, as well as manufacturing labor, depreciation expense, and overhead expense necessary to acquire and convert the purchased materials and supplies into a finished product. Cost of sales also includes all purchasing, receiving, inspection, internal transfers, and related distribution costs.
Selling, general and administrative expense	Selling, general, and administrative expense
Research and development expense	Research and development expense
Advertising	Advertising Advertising expenses are included in SG&A expense and are expensed as incurred. Advertising costs were approximately $3.3 million, $3.0 million and $2.7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
Warranty costs	Warranty costs The Company provides limited warranties on workmanship on its products in all market segments. The provision for estimated warranty costs is made in the period when such costs become probable and is based on past warranty experience. See Note 8 for additional information.
Income taxes	Income taxes Deferred income tax provisions are determined using the liability method to recognize deferred tax assets and liabilities. This method is based upon differences between the financial statement carrying amounts and the respective tax basis of assets and liabilities using enacted tax rates that are expected to apply in the years the temporary differences are expected to be settled or realized. Valuation allowances are recorded where it is considered more likely than not that some portion or all of the deferred tax assets will not be realized. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities.
Earnings per share	Earnings per share Basic earnings per share (EPS) is computed by dividing consolidated net earnings applicable to common shareholders by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing adjusted consolidated net earnings applicable to common shareholders by the sum of the weighted average number of common shares outstanding and the weighted average number of potential common shares outstanding. Potential common shares consist of outstanding options under the Company’s stock compensation plans.
Environmental liabilities	Environmental liabilities
Stock-based compensation	Stock-based compensation Compensation expense for stock-based compensation is recognized over the requisite service period at the estimated fair value of the award at the grant date. The Company granted 571,530, 552,992 and 438,195 restricted stock shares in 2023, 2022 and 2021, respectively. See Note 19 for additional information.
Use of estimates	Use of estimates
New Accounting Pronouncements, Policy [Policy Text Block]	Adoption of new accounting standards In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations ("ASU No. 2022-04"). The ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, and potential magnitude. The amendments in this ASU will be applied retrospectively to each period in which a balance sheet is presented, with the exception of a new requirement to disclose a rollforward of program activity, which will be applied prospectively. The amendments in the ASU are effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted the impact of this ASU effective March 31, 2023 and incorporated the required disclosures within Note 1 to condensed consolidated financial statements. New accounting pronouncements to be adopted in future periods In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require, among other things, disclosure of significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”) and a description of other segment items (the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss) by reportable segment, as well as disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023 and interim disclosures are required for periods within fiscal years beginning after December 15, 2024. Retrospective application is required, and early adoption is permitted. These requirements are not expected to have an impact on our financial statements, but will result in significantly expanded reportable segment disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, may be applied prospectively or retrospectively, and allows for early adoption. These requirements will impact our income tax disclosures.

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant, and equipment have been recorded at cost. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets: Years Building and improvements 25 - 40 Machinery and equipment 7 - 20 Tools, dies, and molds 2 - 9 Property, plant, and equipment at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Land and improvements $ 42,140 $ 40,330 Buildings and improvements 243,241 237,507 Machinery and equipment 628,975 588,857 Tools, dies, and molds 116,328 112,990 Construction-in-process 29,744 29,291 1,060,428 1,008,975 Less accumulated depreciation (738,734) (712,370) $ 321,694 $ 296,605

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Accounts receivable at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Accounts receivable $ 224,485 $ 272,928 Allowance for credit losses (5,340) (6,170) Accounts receivable, net $ 219,145 $ 266,758

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Raw material $ 108,504 $ 128,170 Work-in-process 39,921 42,468 Finished goods 216,731 226,585 $ 365,156 $ 397,223

PREPAID AND OTHER CURRENT ASS_2

PREPAID AND OTHER CURRENT ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Other Assets [Table Text Block]	Prepaid and other current assets at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Value added tax and duty receivable, including tax credits $ 15,255 $ 38,604 Factory supplies 24,472 22,553 Prepaid expense 20,783 19,062 Prepaid taxes 2,144 2,596 Deposits 1,338 1,388 Contract receivable 1,213 578 Other 7,024 1,289 $ 72,229 $ 86,070

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant, and equipment have been recorded at cost. Depreciation is provided using the straight-line method over the following estimated useful lives of the related assets: Years Building and improvements 25 - 40 Machinery and equipment 7 - 20 Tools, dies, and molds 2 - 9 Property, plant, and equipment at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Land and improvements $ 42,140 $ 40,330 Buildings and improvements 243,241 237,507 Machinery and equipment 628,975 588,857 Tools, dies, and molds 116,328 112,990 Construction-in-process 29,744 29,291 1,060,428 1,008,975 Less accumulated depreciation (738,734) (712,370) $ 321,694 $ 296,605

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets, Noncurrent Disclosure [Abstract]
Schedule of Other Assets, Noncurrent [Table Text Block]	Other long-term assets at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Net pension asset $ 19,566 $ 11,241 Prepaid software 5,879 5,468 Investments in nonconsolidated affiliates 7,127 6,948 Manufacturing spares 2,089 1,683 Amortizable intangibles 1,387 1,610 Deferred financing costs 195 264 Other 4,539 3,515 $ 40,782 $ 30,729

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Other current liabilities at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Compensation and benefits $ 47,543 $ 45,389 Warranty 21,710 19,914 Accrued insurance benefits 19,162 21,154 Customer rebates and deposits 15,490 16,279 Accrued other taxes 13,762 18,549 Operating lease current liabilities 5,021 3,850 Accrued interest 4,955 5,040 Foreign government grant (a) 4,509 1,888 Settlement of legal matter (b) — 1,260 Other 22,109 18,605 $ 154,261 $ 151,928 (a) For the year ended December 31, 2023, the Company received government subsidies associated with current year capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidy is used to offset existing payables to government in the future. In addition, during August 2014, the Company received an approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of our Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant.

WARRANTY (Tables)

WARRANTY (Tables)	12 Months Ended
	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability [Table Text Block]	Changes in the warranty liability for the periods set forth below consisted of the following (amounts in thousands): 2023 2022 Warranty liability, January 1 $ 19,914 $ 16,628 Provision for warranty liabilities 14,478 14,656 Warranty payments made (12,682) (11,370) Warranty liability, December 31 $ 21,710 $ 19,914

REVOLVING CREDIT FACILITY AND_2

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Instrument [Line Items]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt consisted of the following as of the dates set forth below (amounts in thousands): December 31, 2023 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (3,723) $ 396,277 Titan Europe credit facilities 22,568 — 22,568 Other debt 7,246 — 7,246 Total debt 429,814 (3,723) 426,091 Less amounts due within one year 16,913 — 16,913 Total long-term debt $ 412,901 $ (3,723) $ 409,178 December 31, 2022 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (4,599) $ 395,401 Titan Europe credit facilities 37,362 — 37,362 Other debt 12,855 — 12,855 Total debt 450,217 (4,599) 445,618 Less amounts due within one year 30,857 — 30,857 Total long-term debt $ 419,360 $ (4,599) $ 414,761
Schedule of Maturities of Long-term Debt [Table Text Block]	Aggregate maturities of total debt at December 31, 2023, for each of the years (or other periods) set forth below were as follows (amounts in thousands): 2024 $ 16,956 2025 3,362 2026 3,607 2027 1,388 2028 400,613 Thereafter 3,888 $ 429,814

OTHER LONG-TERM LIABILITIES (Ta

OTHER LONG-TERM LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
Schedule of Other Assets and Other Liabilities [Table Text Block]	Other long-term liabilities at December 31, 2023 and 2022, consisted of the following (amounts in thousands): 2023 2022 Accrued pension liabilities $ 12,795 $ 13,877 Foreign government grant (a) 12,383 11,797 Operating lease long-term liabilities 6,153 2,409 Income tax liabilities 35 43 Other 6,677 9,019 $ 38,043 $ 37,145

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Accumulated other comprehensive loss consisted of the following at the dates set forth below (amounts in thousands): Currency Gain (Loss) on Derivatives Unrecognized Total Balance at January 1, 2022 $ (236,059) $ (39) $ (10,382) $ (246,480) Currency translation adjustments (7,653) — — (7,653) Reclassification adjustments: Defined benefit pension plan adjustments, net of tax of $(383) — — 1,115 1,115 Derivative gain — 1,263 — 1,263 Balance at December 31, 2022 (243,712) 1,224 (9,267) (251,755) Currency translation adjustments 26,257 — — 26,257 Reclassification adjustments: Defined benefit pension plan adjustments, net of tax of $(2,663) — — 6,939 6,939 Derivative loss — (484) — (484) Balance at December 31, 2023 $ (217,455) $ 740 $ (2,328) $ (219,043)

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2023
Variable Interest Entity, Measure of Activity [Abstract]
Schedule of Variable Interest Entities [Table Text Block]	The following table summarizes the carrying amount of the VIEs’ assets and liabilities included in the Company’s Consolidated Balance Sheets at December 31, 2023 and 2022 (amounts in thousands): 2023 2022 Cash and cash equivalents $ 355 $ 1,729 Inventory 1,431 2,581 Other current assets 2,364 4,179 Property, plant, and equipment, net 2,477 4,657 Other non-current assets 222 465 Total assets $ 6,849 $ 13,611 Current liabilities 1,117 2,077 Other long-term liabilities 869 1,062 Total liabilities $ 1,986 $ 3,139 All assets in the above table can only be used to settle obligations of the consolidated VIE to which the respective assets relate. Liabilities are non-recourse obligations. Amounts presented in the table above are adjusted for intercompany eliminations. The Company holds variable interests in certain VIEs that are not consolidated because Titan is not the primary beneficiary. The Company's involvement with these entities is in the form of direct equity interests and prepayments related to purchases of materials. The maximum exposure to loss represents the loss of assets recognized by Titan relating to non-consolidated entities and amounts due to the non-consolidated assets. The assets and liabilities recognized in Titan's Consolidated Balance Sheets related to Titan's interest in these non-consolidated VIEs and the Company's maximum exposure to loss relating to non-consolidated VIEs were as follows at December 31, 2023 and 2022 (amounts in thousands): 2023 2022 Investments $ 7,127 $ 6,827 Total VIE assets 7,127 6,827 Accounts payable to the non-consolidated VIEs 3,578 3,936 Maximum exposure to loss $ 10,705 $ 10,763

OTHER INCOME (EXPENSE) (Tables)

OTHER INCOME (EXPENSE) (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Interest and Other Income [Table Text Block]	Other income consisted of the following for the years set forth below (amounts in thousands): 2023 2022 2021 Income on indirect taxes (a) $ 475 $ 32,043 $ — Loss on sale of Australia wheel business (b) — (10,890) — Proceeds from government grant (c) 319 1,324 — Gain on legal settlement (d) — — 1,750 Equity investment income 1,158 859 806 Gain on sale of assets 246 216 257 Other income (expense) 430 1,868 (727) $ 2,628 $ 25,420 $ 2,086 (a) In May 2022 and September 2022, the Brazilian tax authorities approved indirect tax credits to be applied against future tax obligations. Refer to Footnote 17 for additional information. (b) The loss on sale of the Australian wheel business is comprised primarily of the release of the cumulative translation adjustment of approximately $10.0 million and closing costs associated with the completion of the transaction of approximately $0.9 million. Refer to Footnote 1 for additional information. (c) For the year ended December 31, 2023, the Company received government subsidies associated with current year capital expenditure investments in technological and digital innovation in Europe, of which $0.3 million was recorded as other income. In addition, during August 2014, the Company received approximately $17.0 million capital grant from the Italian government for asset damages related to the earthquake that occurred in May 2012 at one of our Italian subsidiaries. The grant was recorded as deferred income in non-current liabilities which is being amortized over the life of the reconstructed building. There are no specific stipulations associated with the government grant. The Company received proceeds of an additional $1.9 million from the grant for the year ended December 31, 2022, of which $1.3 million was recorded as other income to match to the historical depreciation recorded on the underlying assets. Refer to Footnote 7 for additional information. (d) The gain on legal settlement relates to proceeds received from a steel supplier for the year ended December 31, 2021.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Income before income taxes, consisted of the following for the years set forth below (amounts in thousands): 2023 2022 2021 Domestic $ 20,809 $ 73,361 $ (5,862) Foreign 88,939 128,992 56,902 $ 109,748 $ 202,353 $ 51,040
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The income tax provision was as follows for the years set forth below (amounts in thousands): 2023 2022 2021 Current Federal $ (217) $ (55) $ (933) State 1,341 1,897 (160) Foreign 26,999 44,710 16,422 28,123 46,552 15,329 Deferred Federal (2,513) (14,953) — State 1,186 (10,959) — Foreign (754) 2,527 (14,180) (2,081) (23,385) (14,180) Income tax provision $ 26,042 $ 23,167 $ 1,149
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The income tax provision differs from the amount of income tax determined by applying the statutory U.S. federal income tax rate to pre-tax income as a result of the following: 2023 2022 2021 Statutory U.S. federal tax rate 21.0 % 21.0 % 21.0 % Unrecognized tax positions — (0.3) (1.1) Foreign tax rate and income differential 9.6 11.7 13.0 Valuation allowance (3.5) (23.4) (33.9) State taxes, net 1.2 2.0 3.7 Nondeductible royalty 0.8 0.5 1.9 Federal Benefit of Notice 2023-55 (5.2) — — Equity based compensation — (0.3) (1.0) Nondeductible interest — — 1.5 Other, net (0.2) 0.2 (2.8) Effective tax rate 23.7 % 11.4 % 2.3 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2023 and 2022, were as follows (amounts in thousands): 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 115,336 $ 117,646 Inventory 8,492 7,001 Warranty 6,496 5,587 Employee benefits and related costs 8,130 8,394 Prepaid royalties 1,576 2,145 Interest limitation 17,851 16,361 Lease liability 4,390 3,951 Intangible assets 1,592 1,105 Other 15,322 14,045 Deferred tax assets 179,185 176,235 Deferred tax liabilities: Fixed assets (11,577) (11,978) Lease assets (4,384) (3,869) Pension (3,740) (1,169) Other (4,150) (2,851) Deferred tax liabilities (23,851) (19,867) Subtotal 155,334 156,368 Valuation allowance (119,535) (121,057) Net deferred tax asset (liability) $ 35,799 $ 35,311
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	A reconciliation of the total amounts of unrecognized tax benefits at December 31 were as follows (amounts in thousands): 2023 2022 2021 Balance at January 1 $ 30 $ 540 $ 1,012 Increases to tax positions taken during the current year — — — Increases to tax positions taken during the prior years — — — Decreases to tax positions taken during prior years — — — Decreases due to lapse of statutes of limitations (7) (506) (473) Settlements — — — Foreign exchange — (4) 1 Balance at December 31 $ 23 $ 30 $ 540

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]	The following table provides the change in benefit obligation, change in plan assets, funded status, and amounts recognized in the Consolidated Balance Sheet of the defined benefit pension plans as of December 31, 2023 and 2022 (amounts in thousands): Change in benefit obligation: 2023 2022 Benefit obligation at beginning of year $ 79,379 $ 106,587 Plan amendments 1,391 — Service cost 606 590 Interest cost 4,331 2,872 Disposition of Australia benefit obligation — (853) Actuarial gain (632) (19,991) Benefits paid (7,588) (8,866) Foreign currency translation (279) (960) Benefit obligation at end of year $ 77,208 $ 79,379 Change in plan assets: Fair value of plan assets at beginning of year $ 75,025 $ 97,007 Actual return on plan assets 14,558 (14,179) Employer contributions 442 436 Benefits paid (7,294) (8,228) Foreign currency translation 38 (11) Fair value of plan assets at end of year $ 82,769 $ 75,025 Funded (unfunded) status at end of year $ 5,561 $ (4,354) Amounts recognized in Consolidated Balance Sheet: Noncurrent assets $ 19,566 $ 11,241 Current liabilities (1,210) (1,718) Noncurrent liabilities (12,795) (13,877) Net amount recognized in the Consolidated Balance Sheet $ 5,561 $ (4,354)
Schedule of Accumulated and Projected Benefit Obligations	Information for pension plans with accumulated benefit obligations and projected benefit obligations in excess of plan assets were (amounts in thousands): 2023 2022 Pension Plans in which Accumulated Benefit Obligation Exceeds Plan Assets at December 31, Accumulated benefit obligation $ 44,976 $ 45,225 Fair value of plan assets $ 31,903 $ 30,558 Accumulated Benefit Obligation at December 31 $ 76,746 $ 78,853 Pension Plans in which Projected Benefit Obligation Exceeds Plan Assets at December 31, Projected benefit obligation $ 45,439 $ 45,751 Fair value of plan assets $ 31,903 $ 30,558 Projected Benefit Obligation at December 31 $ 77,208 $ 79,379
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]	Amounts recognized in accumulated other comprehensive loss: 2023 2022 Unrecognized prior service cost $ 634 $ 643 Unrecognized net loss (11,480) (21,091) Deferred tax effect of unrecognized items 8,518 11,181 Net amount recognized in accumulated other comprehensive loss $ (2,328) $ (9,267)
Defined Benefit Plan, Assumptions [Table Text Block]	The weighted-average assumptions used in the actuarial computation that derived the benefit obligations at December 31 were as follows: 2023 2022 Discount rate 5.2 % 5.8 % Expected long-term return on plan assets 6.5 % 6.5 % The weighted-average assumptions used in the actuarial computation that derived net periodic pension cost for the years ended December 31, 2023, 2022, and 2021 were as follows: 2023 2022 2021 Discount rate 5.8 % 2.7 % 1.4 %
Schedule of Net Benefit Costs [Table Text Block]	The following table provides the components of net periodic pension cost for the plans, settlement cost, and the assumptions used in the measurement of the Company’s benefit obligation for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands): Components of net periodic benefit cost and other Net periodic benefit cost: 2023 2022 2021 Service cost $ 606 $ 590 $ 655 Interest cost 4,331 2,872 2,880 Assumed return on assets (4,669) (6,071) (6,024) Amortization of unrecognized prior service cost (114) (85) (95) Amortization of net unrecognized loss 1,004 1,426 2,805 Net periodic pension cost (benefit) $ 1,158 $ (1,268) $ 221
Schedule of Allocation of Plan Assets [Table Text Block]	The allocation of the fair value of plan assets was as follows: Percentage of Plan Assets Target Asset Category 2023 2022 2023 U.S. equities (a) 57 % 62 % 40% - 80% Fixed income 21 % 23 % 20% - 50% Cash and cash equivalents 10 % 8 % 0% - 20% International equities (a) 12 % 7 % 0% - 16% 100 % 100 % (a) Total equities may not exceed 80% of total plan assets. The fair value of the plan assets by asset categories consisted of the following as of the dates set forth below (amounts in thousands): Fair Value Measurements as of December 31, 2023 Total Level 1 Level 2 Level 3 Money market funds $ 8,186 $ 8,186 $ — $ — Common stock 27,658 27,658 — — Bonds and securities 10,302 10,302 — — Mutual and insurance funds 36,623 35,828 795 — Totals $ 82,769 $ 81,974 $ 795 $ — Fair Value Measurements as of December 31, 2022 Total Level 1 Level 2 Level 3 Money market funds $ 5,377 $ 5,377 $ — $ — Common stock 29,759 29,759 — — Bonds and securities 4,891 4,891 — — Mutual and insurance funds 34,998 34,084 914 — Totals $ 75,025 $ 74,111 $ 914 $ —	Fair Value Measurements as of December 31, 2022 Total Level 1 Level 2 Level 3 Money market funds $ 5,377 $ 5,377 $ — $ — Common stock 29,759 29,759 — — Bonds and securities 4,891 4,891 — — Mutual and insurance funds 34,998 34,084 914 — Totals $ 75,025 $ 74,111 $ 914 $ —
Schedule of Expected Benefit Payments [Table Text Block]	Projected benefit payments from the plans as of December 31, 2023, are estimated as follows (amounts in thousands): 2024 $ 8,235 2025 7,471 2026 7,273 2027 6,793 2028 7,006 2029-2033 29,080

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
STOCK OPTION PLANS [Abstract]
Share-based Payment Arrangement, Option, Activity [Table Text Block]	The following is a summary of activity in stock options during the year ended December 31, 2023: Shares Subject Weighted-Average Aggregate Intrinsic Value (in thousands) Exercise Price Remaining Contractual Life (in Years) Outstanding, December 31, 2022 408,200 $ 13.45 3.16 Granted — — Exercised — — Forfeited/Expired (60,000) 24.07 Outstanding, December 31, 2023 348,200 $ 11.62 2.64 $ 1,223 Exercisable, December 31, 2023 348,200 $ 11.62 2.64 $ 1,223
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	A summary of RSU and PSU activity for the year ended December 31, 2023, is presented in the following table: RSU PSU Total Shares Weighted-Average Grant Date Fair Value Unvested at December 31, 2022 (a) 876,888 328,948 1,205,836 $ 10.37 Granted 571,530 — 571,530 11.50 Vested (453,439) — (453,439) 8.99 Forfeited/Expired (21,333) — (21,333) 11.54 Unvested at December 31, 2023 973,646 328,948 1,302,594 $ 11.33

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Lease, Cost [Table Text Block]	Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification 2023 Operating lease ROU assets Operating lease assets $ 11,955 Operating lease current liabilities Other current liabilities $ 5,021 Operating lease long-term liabilities Other long-term liabilities 6,153 Total operating lease liabilities $ 11,174 Finance lease, gross Property, plant & equipment, net $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (3,489) Finance lease, net $ 1,686 Finance lease current liabilities Other current liabilities $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,321 Total finance lease liabilities $ 2,414
Finance Lease, Liability, Maturity [Table Text Block]	At December 31, 2023, maturity of lease liabilities were as follows (amounts in thousands): Operating Leases Finance Leases 2024 $ 5,302 $ 1,185 2025 3,315 787 2026 2,592 528 2027 533 83 2028 251 14 Thereafter 411 — Total future minimum lease payments $ 12,404 $ 2,597 Less imputed interest 1,230 183 $ 11,174 $ 2,414 Weighted average remaining lease term (in years) 3.18 2.41
Lessee, Operating Lease, Liability, Maturity	At December 31, 2023, maturity of lease liabilities were as follows (amounts in thousands): Operating Leases Finance Leases 2024 $ 5,302 $ 1,185 2025 3,315 787 2026 2,592 528 2027 533 83 2028 251 14 Thereafter 411 — Total future minimum lease payments $ 12,404 $ 2,597 Less imputed interest 1,230 183 $ 11,174 $ 2,414 Weighted average remaining lease term (in years) 3.18 2.41

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2023
Other Commitments [Line Items]
Other Commitments [Table Text Block]	At December 31, 2023, the Company's expected cash outflow resulting from non-cancellable purchase obligations are summarized by year in the table below (amounts in thousands): 2024 $ 37,688 2025 869 2026 4 Total non-cancellable purchase obligations $ 38,561

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The table below presents information about certain operating results of segments as reviewed by the chief operating decision maker of the Company as of and for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands): 2023 2022 2021 Revenues from external customers Agricultural $ 980,537 $ 1,192,239 $ 949,400 Earthmoving/construction 687,758 807,356 693,350 Consumer 153,505 169,785 137,465 $ 1,821,800 $ 2,169,380 $ 1,780,215 Gross profit Agricultural $ 163,026 $ 193,585 $ 135,807 Earthmoving/construction 110,690 135,788 83,705 Consumer 32,133 31,337 18,030 $ 305,849 $ 360,710 $ 237,542 Income from operations Agricultural $ 100,642 $ 130,474 $ 77,666 Earthmoving/construction 55,122 79,810 27,809 Consumer 22,380 22,843 9,553 Corporate & Unallocated (29,417) (27,325) (29,853) Income from operations 148,727 205,802 85,175 Interest expense (18,785) (29,796) (32,221) Loss on senior note repurchase — — (16,020) Foreign exchange (loss) gain (22,822) 927 12,020 Other income, net 2,628 25,420 2,086 Income before income taxes $ 109,748 $ 202,353 $ 51,040 Capital expenditures Agricultural $ 32,306 $ 25,738 $ 20,749 Earthmoving/construction 23,249 17,576 15,014 Consumer 5,244 3,660 3,039 $ 60,799 $ 46,974 $ 38,802 Depreciation & amortization Agricultural $ 21,405 $ 22,645 $ 25,082 Earthmoving/construction 15,185 15,337 18,428 Consumer 3,404 3,226 3,621 Corporate & Unallocated 2,440 1,539 860 $ 42,434 $ 42,747 $ 47,991 Total assets Agricultural $ 559,607 $ 548,523 $ 517,528 Earthmoving/construction 497,508 538,064 502,373 Consumer 155,602 133,213 133,906 Corporate & Unallocated (a) 76,528 64,830 28,878 $ 1,289,245 $ 1,284,630 $ 1,182,685
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	The table below presents information by geographic area. Revenues from external customers were determined based on the location of the selling subsidiary. Geographic information as of and for the years ended December 31, 2023, 2022, and 2021 was as follows (amounts in thousands): 2023 2022 2021 Net Sales United States $ 814,676 $ 1,074,715 $ 835,985 Europe / CIS 558,677 577,877 479,724 Latin America 354,979 422,439 318,879 Other international 93,468 94,349 145,627 $ 1,821,800 $ 2,169,380 $ 1,780,215 Long-Lived Assets United States $ 107,639 $ 97,112 $ 98,307 Europe / CIS 142,749 138,617 146,547 Latin America 61,169 49,714 42,599 Other international 10,137 11,162 13,656 $ 321,694 $ 296,605 $ 301,109 The table below presents information by products and reportable segments as of and for the years ended December 31, 2023, 2022 and 2021 (amounts in thousands): 2023 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 935,274 $ 258,709 $ 130,297 $ 1,324,280 Undercarriage systems and components 45,263 429,049 23,208 497,520 Total $ 980,537 $ 687,758 $ 153,505 $ 1,821,800 2022 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 1,152,933 $ 329,403 $ 147,307 $ 1,629,643 Undercarriage systems and components 39,306 477,953 22,478 539,737 Total $ 1,192,239 $ 807,356 $ 169,785 $ 2,169,380 2021 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Revenues from external customers Wheels and Tires [including assemblies] $ 913,065 $ 292,553 $ 116,405 $ 1,322,023 Undercarriage systems and components 36,335 400,797 21,060 458,192 Total $ 949,400 $ 693,350 $ 137,465 $ 1,780,215

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Earnings per share for 2023, 2022, and 2021 were as follows (amounts in thousands, except per share data): 2023 2022 2021 Net income applicable to common shareholders $ 78,760 $ 176,302 $ 49,586 Determination of shares: Weighted average shares outstanding (basic) 62,452 63,040 62,100 Effect of restricted stock and stock options 509 651 585 Weighted average shares outstanding (diluted) 62,961 63,691 62,685 Earnings per share: Basic $ 1.26 $ 2.80 $ 0.80 Diluted $ 1.25 $ 2.77 $ 0.79

DESCRIPTION OF BUSINESS AND S_4

DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deposits, Foreign	$ 186,100	$ 132,800
Retained earnings	169,623	90,863
Loss from operations	148,727	205,802	$ 85,175
Provision (benefit) for income tax	26,042	23,167	1,149
Net income (loss)	$ 83,706	$ 179,186	$ 49,891
Basic	$ 1.26	$ 2.80	$ 0.80
Inventory	$ 365,156	$ 397,223
Senior Notes	396,300
Debt Instrument, Fair Value Disclosure	401,400
Research and Development Expense	12,539	10,404	$ 10,104
Advertising Expense	$ 3,300	3,000	$ 2,700
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Other current liabilities	$ 154,261	151,928
Noncontrolling interests	$ 355	$ 1,902
Restricted stock awards (in shares)	571,530	552,992	438,195
Equity Method Investments	$ 7,100	$ 6,900
Percent of Consolidated Assets	7%
Percent of Consolidated Sales	6%
Concentration Risk, Customer	40	43
Amount Recognized in Income Due to Inflationary Accounting	$ 15,500
Obligation under Supplier Finance Agreement	7,400	$ 11,800
Revision of Prior Period, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amount Recognized in Income Due to Inflationary Accounting	$ 7,300
John Deere
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration Risk, Customer	13	15
Senior Secured Notes 7.00 Percent
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7%
Senior Notes	$ 400,000	$ 400,000
Minimum [Member] | Building and Building Improvements [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	25 years
Minimum [Member] | Machinery and Equipment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	7 years
Minimum [Member] | Tools, Dies and Molds [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	2 years
Maximum [Member] | Building and Building Improvements [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	40 years
Maximum [Member] | Machinery and Equipment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	20 years
Maximum [Member] | Tools, Dies and Molds [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, Plant and Equipment, Useful Life, Maximum	9 years

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 224,485	$ 272,928
Allowance for credit losses	(5,340)	(6,170)
Accounts receivable, net	$ 219,145	$ 266,758

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw material	$ 108,504	$ 128,170
Work-in-process	39,921	42,468
Finished goods	216,731	226,585
Inventory, Net, Total	$ 365,156	$ 397,223

PREPAID AND OTHER CURRENT ASS_3

PREPAID AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets, Current [Abstract]
Value added tax	$ 15,255	$ 38,604
Factory supplies	24,472	22,553
Prepaid expense	20,783	19,062
Prepaid taxes	2,144	2,596
Deposits	1,338	1,388
Investments for deferred compensation	1,213	578
Other	7,024	1,289
Prepaid and other current assets	$ 72,229	$ 86,070

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,060,428	$ 1,008,975
Less accumulated depreciation	(738,734)	(712,370)
Property, Plant and Equipment, Net	321,694	296,605
Depreciation	41,000	41,500	$ 46,400
Total assets	1,289,245	1,284,630	$ 1,182,685
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	42,140	40,330
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	243,241	237,507
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	628,975	588,857
Tools, Dies and Molds [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	116,328	112,990
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 29,744	$ 29,291

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Assets, Noncurrent [Abstract]
Equity Method Investments	$ 7,100	$ 6,900
Prepaid software	5,879	5,468
Manufacturing spares	1,387	1,610
Investment in Wheels India Limited	2,089	1,683
Notes receivable	195	264
Other	4,539	3,515
Assets for Plan Benefits, Defined Benefit Plan	19,566	11,241
Other long-term assets	40,782	30,729
Equity Method Investments [Member]
Other Assets, Noncurrent [Abstract]
Equity Method Investments	$ 7,127	$ 6,948

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities, Current [Abstract]
Employee-related Liabilities, Current	$ 47,543	$ 45,389
Product Warranty Accrual, Current	21,710	19,914
Accrued Insurance, Current	19,162	21,154
Contract with Customer, Liability	15,490	16,279
Accrued other taxes	13,762	18,549
Operating Lease, Liability, Current	5,021	3,850
Accrued interest	4,955	5,040
Deferred Revenue, Current	4,509	1,888
Loss Contingency Accrual	0	1,260
Other Accrued Liabilities, Current	22,109	18,605
Other current liabilities	$ 154,261	$ 151,928

WARRANTY (Details)

WARRANTY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Product Warranties Disclosures [Abstract]
Warranty liability, January 1	$ 19,914	$ 16,628
Provision for warranty liabilities	14,478	14,656
Warranty payments made	(12,682)	(11,370)
Warranty liability, December 31	$ 21,710	$ 19,914

REVOLVING CREDIT FACILITY AND_3

REVOLVING CREDIT FACILITY AND LONG-TERM DEBT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instruments [Abstract]
Senior Notes	$ 396,300
Debt Instrument, Unamortized Discount	(3,723)	$ (4,599)
Debt Instrument, Unamortized Discount (Premium), Net	3,723	4,599
Long-term Debt	426,091	445,618
Long-term Debt, Gross	$ 429,814
Short-term Debt, Weighted Average Interest Rate, at Point in Time	6.80%
Maturities of Long-term Debt [Abstract]
2024	$ 16,956
2025	3,362
2026	3,607
2027	1,388
2028	400,613
Thereafter	$ 3,888
Debt Instrument, Interest Rate, Effective Percentage	7%
Letters of Credit Outstanding, Amount	$ 6,200
Line of Credit Facility, Current Borrowing Capacity	90,000
Short-term debt	16,913	30,857
Debt Instrument, Unamortized Discount, Current	0	0
Long-term Debt and Lease Obligation	409,178	414,761
Loss on senior note repurchase	0	0	$ 16,020
Senior Secured Notes 6.50 Percent [Member] [Member]
Debt Instruments [Abstract]
Senior Notes			$ 400,000
Titan Europe [Member]
Debt Instruments [Abstract]
Debt Instrument, Unamortized Discount	0	0
Other Borrowings	22,568	37,362
Other Debt Obligations [Member]
Debt Instruments [Abstract]
Debt Instrument, Unamortized Discount	0	0
Maturities of Long-term Debt [Abstract]
Other Long-term Debt	7,246	12,855
Titan Brazil [Member]
Maturities of Long-term Debt [Abstract]
Other Long-term Debt	7,200
Senior Secured Notes 7.00 Percent
Debt Instruments [Abstract]
Senior Notes	400,000	400,000
Debt Instrument, Unamortized Discount	(3,723)	(4,599)
Long-term Debt	$ 396,277	395,401
Maturities of Long-term Debt [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	7%
BMO Harris Bank N.A. [Member] | Line of Credit [Member]
Maturities of Long-term Debt [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000
Long-term Debt [Member]
Debt Instruments [Abstract]
Long-term Debt, Gross	412,901	419,360
Maturities of Long-term Debt [Abstract]
Debt, Long-Term and Short-Term, Combined Amount	$ 429,814	$ 450,217

OTHER LONG-TERM LIABILITIES (De

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities, Noncurrent [Abstract]
Accrued pension liabilities	$ 12,795	$ 13,877
Foreign government grant (a)	12,383	11,797
Operating lease long-term liabilities	6,153	2,409
Income tax liabilities	35	43
Other	6,677	9,019
Other Liabilities, Noncurrent	$ 38,043	$ 37,145

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ (0.5)	$ (1.3)	$ 0.4

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Currency Translation Adjustments beginning of year	$ (243,712)	$ (236,059)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(9,267)	(10,382)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(251,755)	(246,480)
Currency translation adjustments	26,257	(7,653)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(2,663)	(383)	$ 39
Unrecognized net gain (loss), net of tax	6,939	1,115
Derivative, Gain on Derivative		1,263	374
Derivative, Loss on Derivative	(484)
Currency Translation Adjustments end of year	(217,455)	(243,712)	(236,059)
AOCI, Derivative Qualifying as Hedge, Excluded Component, after Tax	$ (740)	$ (1,224)	$ 39

STOCKHOLDERS EQUITY (Details)

STOCKHOLDERS EQUITY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity, Attributable to Parent [Abstract]
Stock Repurchase Program, Authorized Amount	$ 50,000
Treasury Stock, Shares, Acquired	2,653,786	4,032,259
Treasury Stock, Value, Acquired, Cost Method	$ 32,579	$ 25,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 17,400
Payments for Repurchase of Redeemable Noncontrolling Interest		$ 25,000
RDIF [Member]
Equity, Attributable to Parent [Abstract]
Noncontrolling Interest, Ownership Percentage by Parent	64.30%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	35.70%
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	64.30%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	35.70%

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 220,251	$ 159,577	$ 98,108	$ 117,431
Inventory	365,156	397,223
Other current assets	7,024	1,289
Property, plant, and equipment, net	321,694	296,605
Total assets	1,289,245	1,284,630	$ 1,182,685
Current liabilities	372,375	446,161
Total liabilities	821,830	901,492
Accounts payable to the non-consolidated VIEs	201,201	263,376
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	355	1,729
Inventory	1,431	2,581
Other current assets	2,364	4,179
Property, plant, and equipment, net	2,477	4,657
Other non-current assets	222	465
Total assets	6,849	13,611
Current liabilities	1,117	2,077
Other long-term liabilities	869	1,062
Total liabilities	1,986	3,139
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Total assets	7,127	6,827
Investments	7,127	6,827
Accounts payable to the non-consolidated VIEs	3,578	3,936
Maximum exposure to loss	$ 10,705	$ 10,763
Titan Tire Reclamation Corporation [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50%
Wheels India [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	50%

ROYALTY EXPENSE (Details)

ROYALTY EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Royalty Expense	$ 9,645	$ 11,712	$ 10,491

OTHER INCOME (EXPENSE) (Details

OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 31, 2014	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Brazil Income Tax Adjustment		$ 475	$ 32,043	$ 0
Gain (Loss) on Disposition of Business		0	(10,890)	0
Other Nonrecurring Income		319	1,324	0
Gain (Loss) Related to Litigation Settlement		0	0	1,750
Equity investment income		1,158	859	806
Gain on sale of assets		246	216	257
Other income (expense)		430	1,868	(727)
Other income		$ 2,628	25,420	$ 2,086
Government Grant	$ 17,000		$ 1,900

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest [Abstract]
Domestic	$ 20,809	$ 73,361	$ (5,862)
Foreign	88,939	128,992	56,902
Income before income taxes	109,748	202,353	51,040
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current Federal Tax Expense (Benefit)	(217)	(55)	(933)
Current State and Local Tax Expense (Benefit)	1,341	1,897	(160)
Current Foreign Tax Expense (Benefit)	26,999	44,710	16,422
Current Income Tax Expense (Benefit)	28,123	46,552	15,329
Deferred Federal Income Tax Expense (Benefit)	(2,513)	(14,953)	0
Deferred State and Local Income Tax Expense (Benefit)	1,186	(10,959)	0
Deferred Foreign Income Tax Expense (Benefit)	(754)	2,527	(14,180)
Deferred Federal, State and Local, Tax Expense (Benefit), Total	(2,081)	(23,385)	(14,180)
Provision (benefit) for income tax	$ 26,042	$ 23,167	$ 1,149
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory U.S. federal tax rate	21%	21%	21%
Unrecognized tax positions	0%	(0.30%)	(1.10%)
Foreign tax rate and income differential	9.60%	11.70%	13%
Valuation allowance	(3.50%)	(23.40%)	(33.90%)
State taxes, net	1.20%	2%	3.70%
Nondeductible royalty	0.80%	0.50%	1.90%
Federal Benefit of Notice 2023-55	(5.20%)	0%	0%
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent	0%	(0.30%)	(1.00%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent	0%	0%	1.50%
Other, net	(0.20%)	0.20%	(2.80%)
Effective tax rate	23.70%	11.40%	2.30%
Components of Deferred Tax Assets and Liabilities [Abstract]
Net operating loss carryforwards	$ 115,336	$ 117,646
Inventory	8,492	7,001
Warranty	6,496	5,587
Employee benefits and related costs	8,130	8,394
Prepaid royalties	1,576	2,145
Deferred Tax Asset, Interest Limitation	17,851	16,361
Deferred Tax Assets, Leasing Arrangements	4,390	3,951
Deferred Tax Assets, Goodwill and Intangible Assets	1,592	1,105
Other	15,322	14,045
Deferred tax assets	179,185	176,235
Fixed assets	(11,577)	(11,978)
Deferred Tax Liabilities, Leasing Arrangements	(4,384)	(3,869)
Deferred Tax Liability Pension	(3,740)	(1,169)
Other	(4,150)	(2,851)
Deferred tax liabilities	23,851	19,867
Subtotal	155,334	156,368
Valuation allowance	(119,535)	(121,057)
Net deferred tax asset (liability)	35,799	35,311
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	1,700
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration	113,600
SEC Schedule, 12-09, Valuation Allowances and Reserves, Increase (Decrease) Adjustment	(1,500)	(52,100)
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	61,600
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	290,700
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	356,500
Unrecognized Tax Benefits, Gross	0	0	$ 100
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	0
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	23	30	540	$ 1,012
Increases to tax positions taken during the current year	0	0	0
Increases to tax positions taken during the prior years	0	0	0
Decreases to tax positions taken during prior years	0	0	0
Decreases due to lapse of statutes of limitations	(7)	(506)	(473)
Settlements	0	0	0
Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation	0		1
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation		(4)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0	0	$ (200)
Brazil Income Tax Provision/Expense	$ 2,600	16,100
BRAZIL
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Brazil Income Tax Provision/Expense		9,400
UNITED STATES
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Brazil Income Tax Provision/Expense		$ 6,700

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		$ 82,769	$ 75,025
Assets for Plan Benefits, Defined Benefit Plan		19,566	11,241
Liability, Defined Benefit Pension Plan, Noncurrent		(12,795)	(13,877)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax		$ (2,328)	$ (9,267)	$ (10,382)
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets		6.50%
Defined Benefit Plan, Equity Securities		100%	100%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Historical Rate of Return, Equities		8.50%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Historical Rate of Return, Fixed Income Securities		4%
2024		$ 8,235
2025		7,471
2026		7,273
2027		6,793
2028		7,006
2029-2033		$ 29,080
Defined Contribution Plan, Employer's Matching Contribution of Employee's Gross Pay Allowed to be Matched, Percent		50%
Defined Contribution Plan, Employer Matching Contribution, Percent		6%
Stock Issued During Period, Shares, Employee Benefit Plan | shares		144,439	124,645	175,267
Defined Contribution Plan, Cost		$ 1,800	$ 1,700	$ 1,400
Equity Securities, U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities	[1]	57%	62%
Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities		21%	23%
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities		10%	8%
Equity Securites, International [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities	[1]	12%	7%
Money Market Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		$ 8,186	$ 5,377
Domestic Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		27,658	29,759
Debt Security, Corporate, US [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		10,302	4,891
525190 Other Insurance Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		$ 36,623	$ 34,998
Parent Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities		2%	3%
Defined Benefit Plan, Equity Securities, Common Stock, Employer, Related Party
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Employer, Related Party, Amount		$ 1,900	$ 2,600
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Equity Securities		80%
Maximum [Member] | Equity Securities, U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		80%
Maximum [Member] | Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		50%
Maximum [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		20%
Maximum [Member] | Equity Securites, International [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		16%
Minimum [Member] | Equity Securities, U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		40%
Minimum [Member] | Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		20%
Minimum [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		0%
Minimum [Member] | Equity Securites, International [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Target Allocation Percentage of Assets, Equity Securities		0%
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		$ 81,974	74,111
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		8,186	5,377
Fair Value, Inputs, Level 1 [Member] | Domestic Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		27,658	29,759
Fair Value, Inputs, Level 1 [Member] | Debt Security, Corporate, US [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		10,302	4,891
Fair Value, Inputs, Level 1 [Member] | 525190 Other Insurance Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		35,828	34,084
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		795	914
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 2 [Member] | Domestic Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 2 [Member] | Debt Security, Corporate, US [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 2 [Member] | 525190 Other Insurance Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		795	914
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 3 [Member] | Domestic Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 3 [Member] | Debt Security, Corporate, US [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Fair Value, Inputs, Level 3 [Member] | 525190 Other Insurance Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Amount		0	0
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation		77,208	79,379	106,587
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment		1,391	0
Defined Benefit Plan, Service Cost		606	590	655
Defined Benefit Plan, Interest Cost		4,331	2,872	2,880
Defined Benefit Plan, Accumulated Benefit Obligation, Increase (Decrease) for Plan Amendment		0	(853)
Defined Benefit Plan, Actuarial Net (Gains) Losses		(632)	(19,991)
Defined Benefit Plan, Benefit Obligation, Benefits Paid		7,588	8,866
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Benefit Obligation		(279)	(960)
Defined Benefit Plan, Plan Assets, Amount		82,769	75,025	97,007
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)		14,558	(14,179)
Defined Benefit Plan, Plan Assets, Contributions by Employer		442	436
Defined Benefit Plan, Benefits Paid (Deprecated 2017-01-31)		(7,294)	(8,228)
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)		38	(11)
Defined Benefit Plan, Funded (Unfunded) Status of Plan		5,561	(4,354)
Assets for Plan Benefits, Defined Benefit Plan		19,566	11,241
Liability, Defined Benefit Pension Plan, Current		(1,210)	(1,718)
Liability, Defined Benefit Pension Plan, Noncurrent		(12,795)	(13,877)
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position		5,561	(4,354)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation		44,976	45,225
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets		31,903	30,558
Defined Benefit Plan, Accumulated Benefit Obligation		76,746	78,853
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation		45,439	45,751
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets		31,903	30,558
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax		634	643
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax		(11,480)	(21,091)
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits		8,518	11,181
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax		$ (2,328)	$ (9,267)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		5.20%	5.80%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Benefit Obligations		6.50%	6.50%
Defined Benefit Plan, Expected Return (Loss) on Plan Assets		$ (4,669)	$ (6,071)	(6,024)
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Recognized in Net Periodic Benefit Cost, before Tax		(114)	(85)	(95)
Defined Benefit Plan, Amortization of Gain (Loss)		1,004	1,426	2,805
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)		$ 1,158	$ (1,268)	$ 221
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate		5.80%	2.70%	1.40%
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation		$ 13,500
Defined Benefit Plan, Plan Assets, Amount		800
Defined Contribution Plan, Cost		$ 3,700	$ 4,100	$ 3,800
Defined Contribution/401k Plans, Total [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution/401k Plans, Number Sponsored by the Company		2
Titan Tire, Bryan and Walcott Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation		$ 63,700
Defined Benefit Plan, Plan Assets, Amount		$ 82,000
Defined Contribution/401k Plans, Employees Covered by Collective Bargaining Arrangements [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution/401k Plans, Number Sponsored by the Company		3
[1]Total equities may not exceed 80% of total plan assets.

STOCK COMPENSATION (Details)

STOCK COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 6,000	$ 4,300	$ 4,300
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares Subject to Option, beginning of year	408,200
Granted	0
Exercised	0
Forfeited/Expired	(60,000)
Shares Subject to Option, end of year	348,200	408,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	348,200
Weighted-Average Exercise Price, beginning of year	$ 13.45
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	0
Exercised	0
Forfeited/Expired	24.07
Weighted-Average Exercise Price, end of year	11.62	$ 13.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 11.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	2 years 7 months 20 days	3 years 1 month 28 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years 7 months 20 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 1,223
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 1,223
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,205,836
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	571,530
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(453,439)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(21,333)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	1,302,594	1,205,836
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value	$ 10.37
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	11.50
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	8.99
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	11.54
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value	$ 11.33	$ 10.37
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	125%
Restricted stock awards (in shares)	571,530	552,992	438,195
Restricted Stock or Unit Expense	$ 5,100	$ 3,400	$ 3,400
Deferred Compensation Arrangement with Individual, Allocated Share-based Compensation Expense	900	900	900
Deferred Compensation Share-based Arrangements, Liability, Current	$ 8,300
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	1 year 2 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 5,100	$ 6,000	$ 7,500
Equity Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	3,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	876,888
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	571,530
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(453,439)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	(21,333)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	973,646	876,888
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	328,948
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	328,948	328,948

LITIGATION (Details)

LITIGATION (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Loss Contingency Accrual	$ 0	$ 1,260

LEASE COMMITMENTS (Details)

LEASE COMMITMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Leased Assets [Line Items]
Operating Lease, Expense	$ 5,600	$ 5,100	$ 6,100
Finance Lease, Right-of-Use Asset, Amortization	3,000	2,600	$ 3,800
Operating Lease, Right-of-Use Asset	11,955	8,932
Operating Lease, Liability, Current	5,021	3,850
Operating lease long-term liabilities	6,153	$ 2,409
Operating Lease, Liability	11,174
Finance lease, gross	5,175
Finance lease accumulated depreciation	3,489
Finance lease, net	1,686
Finance Lease, Liability, Current	1,093
Finance Lease, Liability, Noncurrent	1,321
Finance Lease, Liability	$ 2,414
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current	Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant, and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities
Lessee, Operating Lease, Liability, Payment, Due
2024	$ 5,302
2025	3,315
2026	2,592
2027	533
2028	251
Thereafter	411
Total future minimum lease payments	12,404
Less imputed interest	$ 1,230
Operating Lease, Weighted Average Remaining Lease Term	3 years 2 months 4 days
Finance Lease, Liability, Payment, Due [Abstract]
2024	$ 1,185
2025	787
2026	528
2027	83
2028	14
Thereafter	0
Total future minimum lease payments	2,597
Less imputed interest	$ 183
Finance Lease, Weighted Average Remaining Lease Term	2 years 4 months 28 days
Operating Lease, Payments	$ 6,800
Finance Lease, Interest Payment on Liability	$ 200

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Other Commitments [Line Items]
2024	$ 37,688
2025	869
2026	4
Total non-cancellable purchase obligations	$ 38,561

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales		$ 1,821,800	$ 2,169,380	$ 1,780,215
Gross profit		305,849	360,710	237,542
Income (loss) from operations		148,727	205,802	85,175
Interest expense		(18,785)	(29,796)	(32,221)
Loss on senior note repurchase		0	0	(16,020)
Foreign exchange (loss) gain		(22,822)	927	12,020
Other income		2,628	25,420	2,086
Loss before income taxes		109,748	202,353	51,040
Segment, Expenditure, Addition to Long-Lived Assets		60,799	46,974	38,802
Payments to Acquire Property, Plant, and Equipment		60,799	46,974	38,802
Depreciation & amortization		42,434	42,747	47,991
Total assets		1,289,245	1,284,630	1,182,685
Long-lived Assets		321,694	296,605	301,109
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales		1,821,800	2,169,380	1,780,215
Gross profit		305,849	360,710	237,542
Interest expense		(18,785)	(29,796)	(32,221)
Foreign exchange (loss) gain		(22,822)	927	12,020
Other income		2,628	25,420	2,086
Loss before income taxes		109,748	202,353	51,040
Operating Segments [Member] | Wheels and Tires (including assemblies)
Segment Reporting Information [Line Items]
Net sales		1,324,280	1,629,643	1,322,023
Operating Segments [Member] | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales		497,520	539,737	458,192
Operating Segments [Member] | Agricultural [Member]
Segment Reporting Information [Line Items]
Net sales		980,537	1,192,239	949,400
Gross profit		163,026	193,585	135,807
Income (loss) from operations		100,642	130,474	77,666
Segment, Expenditure, Addition to Long-Lived Assets		32,306	25,738	20,749
Depreciation & amortization		21,405	22,645	25,082
Total assets		559,607	548,523	517,528
Operating Segments [Member] | Agricultural [Member] | Wheels and Tires (including assemblies)
Segment Reporting Information [Line Items]
Net sales		935,274	1,152,933	913,065
Operating Segments [Member] | Agricultural [Member] | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales		45,263	39,306	36,335
Operating Segments [Member] | Earthmoving/construction [Member]
Segment Reporting Information [Line Items]
Net sales		687,758	807,356	693,350
Gross profit		110,690	135,788	83,705
Income (loss) from operations		55,122	79,810	27,809
Segment, Expenditure, Addition to Long-Lived Assets		23,249	17,576	15,014
Depreciation & amortization		15,185	15,337	18,428
Total assets		497,508	538,064	502,373
Operating Segments [Member] | Earthmoving/construction [Member] | Wheels and Tires (including assemblies)
Segment Reporting Information [Line Items]
Net sales		258,709	329,403	292,553
Operating Segments [Member] | Earthmoving/construction [Member] | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales		429,049	477,953	400,797
Operating Segments [Member] | Consumer [Member]
Segment Reporting Information [Line Items]
Net sales		153,505	169,785	137,465
Gross profit		32,133	31,337	18,030
Income (loss) from operations		22,380	22,843	9,553
Segment, Expenditure, Addition to Long-Lived Assets		5,244	3,660	3,039
Depreciation & amortization		3,404	3,226	3,621
Total assets		155,602	133,213	133,906
Operating Segments [Member] | Consumer [Member] | Wheels and Tires (including assemblies)
Segment Reporting Information [Line Items]
Net sales		130,297	147,307	116,405
Operating Segments [Member] | Consumer [Member] | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales		23,208	22,478	21,060
Operating Segments [Member] | Corporate & Unallocated
Segment Reporting Information [Line Items]
Income (loss) from operations		(29,417)	(27,325)	(29,853)
Depreciation & amortization		2,440	1,539	860
Total assets	[1]	76,528	64,830	28,878
Cash and cash equivalents		$ 32,000	$ 20,000	$ 7,000
[1]Unallocated assets included cash of approximately $32 million, $20 million, and $7 million as of December 31, 2023, 2022, and 2021, respectively

SEGMENT INFORMATION GEOGRAPHIC

SEGMENT INFORMATION GEOGRAPHIC INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,821,800	$ 2,169,380	$ 1,780,215
Long-Lived Assets	321,694	296,605	301,109
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	814,676	1,074,715	835,985
Long-Lived Assets	107,639	97,112	98,307
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	558,677	577,877	479,724
Long-Lived Assets	142,749	138,617	146,547
Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	354,979	422,439	318,879
Long-Lived Assets	61,169	49,714	42,599
Other Countries [Domain]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	93,468	94,349	145,627
Long-Lived Assets	$ 10,137	$ 11,162	$ 13,656

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income applicable to common shareholders	$ 78,760	$ 176,302	$ 49,586
Weighted Average Number of Shares Outstanding, Basic	62,452	63,040	62,100
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	509	651	585
Weighted Average Number of Shares Outstanding, Diluted	62,961	63,691	62,685
Basic	$ 1.26	$ 2.80	$ 0.80
Diluted	$ 1.25	$ 2.77	$ 0.79

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Millions	Feb. 29, 2024	Dec. 31, 2023
Line of Credit [Member] | BMO Harris Bank N.A. [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 125
Subsequent Event [Member] | Line of Credit [Member] | BMO Harris Bank N.A. [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 225
Subsequent Event [Member] | The Carlstar Group
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	296.2
Payments to Acquire Businesses, Gross	127.5
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 168.7

SCHEDULE II - VALUATION RESER_2

SCHEDULE II - VALUATION RESERVES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Allowance, Credit Loss
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 5,340	$ 6,170	$ 4,550	$ 3,782
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	50	1,646	826
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	0	0	0
Valuation Allowances and Reserves, Deductions, Charge to Cost and Expense	(880)	(26)	(58)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	0	0	0
Valuation Allowance Of Deferred Tax Domestic Member
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	38,554	41,671	94,747	98,051
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	0	0	0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	0	0	0
Valuation Allowances and Reserves, Deductions, Charge to Cost and Expense	(3,117)	(53,076)	(1,034)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	0	0	(2,270)
Valuation Allowance Of Deferred Tax Foreign Member
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	80,981	79,386	78,425	$ 101,125
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	94	19,503	3,712
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Other Account	2,369	0	0
Valuation Allowances and Reserves, Deductions, Charge to Cost and Expense	(868)	(13,833)	(20,108)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	$ 0	$ (4,709)	$ (6,304)