Titan International (TWI) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Oct. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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
Entity Address, Address Line One	1525 Kautz Road, Suite 600
Entity Address, City or Town	West Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60185
City Area Code	630
Local Phone Number	377-0486
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	TWI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,139,435
Entity Central Index Key	0000899751
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 447,985	$ 401,781	$ 1,462,364	$ 1,431,601
Cost of sales	389,180	335,708	1,245,747	1,184,076
Gross profit	58,805	66,073	216,617	247,525
Selling, general and administrative expenses	49,533	33,587	140,536	102,917
Acquisition related expenses	0	0	6,196	0
Research and development expenses	4,199	3,167	12,071	9,399
Royalty expense	2,266	2,344	7,613	7,200
Income from operations	2,807	26,975	50,201	128,009
Interest expense	(9,005)	(7,229)	(27,103)	(22,446)
Interest income	3,064	3,298	8,483	6,261
Foreign exchange (loss) gain	(2,525)	876	(2,338)	(882)
Other income	375	461	4,057	2,409
(Loss) income before income taxes	(5,284)	24,381	33,300	113,351
Provision for income taxes	12,915	4,718	38,103	28,363
Net (loss) income	(18,199)	19,663	(4,803)	84,988
Net income attributable to noncontrolling interests	50	383	2,096	3,663
Net (loss) income attributable to Titan and applicable to common shareholders	$ (18,249)	$ 19,280	$ (6,899)	$ 81,325
(Loss) earnings per common share:
Basic (in dollars per share)	$ (0.25)	$ 0.31	$ (0.10)	$ 1.29
Diluted (in dollars per share)	$ (0.25)	$ 0.31	$ (0.10)	$ 1.29
Average common shares and equivalents outstanding:
Basic (in shares)	72,013	62,598	69,900	62,810
Diluted (in shares)	72,013	63,095	69,900	63,271

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (18,199)	$ 19,663	$ (4,803)	$ 84,988
Derivative loss	(139)	(82)	(211)	(232)
Currency translation adjustment, net	11,064	(26,694)	(19,667)	(20,395)
Pension liability adjustments, net of tax	29	80	16	173
Comprehensive loss	(7,245)	(7,033)	(24,665)	64,534
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	(1,779)	(891)	2,144	(1,563)
Comprehensive loss attributable to Titan	$ (5,466)	$ (6,142)	$ (26,809)	$ 66,097

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Pension liability adjustments	$ (15)	$ (21)	$ 26	$ (51)

CONDENSED CONSOLIDATED BALANCE

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

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	78,447,035	66,525,269
Common stock, shares outstanding (in shares)	71,184,028	60,715,855
Treasury stock (in shares)	7,263,007	5,809,414
Accounts Receivable, Allowance for Credit Loss	$ (4,117)	$ (5,340)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Total Titan Equity	Common Stock	Additional paid-in capital	Retained earnings	Treasury stock	Accumulated other comprehensive (loss) income	Non-controlling interest
Balance, beginning (in shares) at Dec. 31, 2022			62,843,961
Balance, beginning at Dec. 31, 2022	$ 383,138	$ 381,236		$ 565,546	$ 90,863	$ (23,418)	$ (251,755)	$ 1,902
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	33,430	31,838			31,838			1,592
Currency translation adjustment, net	6,944	8,039					8,039	(1,095)
Pension liability adjustments, net of tax	(30)	(30)					(30)
Derivative loss	(111)	(111)					(111)
Stock-based compensation (in shares)			322,157
Stock-based compensation	700	700		(1,303)		2,003
Issuance of treasury stock under 401(k) plan (in shares)			28,733
Issuance of treasury stock under 401(k) plan	429	429		250		179
Common stock repurchase (in shares)			(109,789)
Common stock repurchase	(1,293)	(1,293)				(1,293)
Balance, ending (in shares) at Mar. 31, 2023			63,085,062
Balance, ending at Mar. 31, 2023	423,207	420,808		564,493	122,701	(22,529)	(243,857)	2,399
Balance, beginning (in shares) at Dec. 31, 2022			62,843,961
Balance, beginning at Dec. 31, 2022	383,138	381,236		565,546	90,863	(23,418)	(251,755)	1,902
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	84,988
Currency translation adjustment, net	(20,395)
Pension liability adjustments, net of tax	173
Balance, ending (in shares) at Sep. 30, 2023			61,700,238
Balance, ending at Sep. 30, 2023	433,189	433,218		567,402	172,188	(39,389)	(266,983)	(29)
Balance, beginning (in shares) at Dec. 31, 2022			62,843,961
Balance, beginning at Dec. 31, 2022	$ 383,138	381,236		565,546	90,863	(23,418)	(251,755)	1,902
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock repurchase (in shares)	(2,653,786)
Common stock repurchase	$ (32,600)
Balance, ending (in shares) at Dec. 31, 2023	60,715,855		60,715,855
Balance, ending at Dec. 31, 2023	$ 467,415	467,060		569,065	169,623	(52,585)	(219,043)	355
Balance, beginning (in shares) at Mar. 31, 2023			63,085,062
Balance, beginning at Mar. 31, 2023	423,207	420,808		564,493	122,701	(22,529)	(243,857)	2,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	31,895	30,207			30,207			1,688
Currency translation adjustment, net	(645)	2,212					2,212	(2,857)
Pension liability adjustments, net of tax	123	123					123
Derivative loss	(39)	(39)					(39)
Stock-based compensation (in shares)			54,084
Stock-based compensation	1,515	1,515		1,143		372
Issuance of treasury stock under 401(k) plan (in shares)			42,353
Issuance of treasury stock under 401(k) plan	449	449		178		271
Common stock repurchase (in shares)			(493,279)
Common stock repurchase	(5,097)	(5,097)				(5,097)
Acquisition of additional non-controlling interest	(448)	(80)		(80)				(368)
Balance, ending (in shares) at Jun. 30, 2023			62,688,220
Balance, ending at Jun. 30, 2023	450,960	450,098		565,734	152,908	(26,983)	(241,561)	862
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	19,663	19,280			19,280			383
Currency translation adjustment, net	(26,694)	(25,420)					(25,420)	(1,274)
Pension liability adjustments, net of tax	80	80					80
Derivative loss	(82)	(82)					(82)
Stock-based compensation	1,485	1,485		1,485
Issuance of treasury stock under 401(k) plan (in shares)			38,813
Issuance of treasury stock under 401(k) plan	451	451		183		268
Common stock repurchase (in shares)			(1,026,795)
Common stock repurchase	(12,674)	(12,674)				(12,674)
Balance, ending (in shares) at Sep. 30, 2023			61,700,238
Balance, ending at Sep. 30, 2023	$ 433,189	433,218		567,402	172,188	(39,389)	(266,983)	(29)
Balance, beginning (in shares) at Dec. 31, 2023	60,715,855		60,715,855
Balance, beginning at Dec. 31, 2023	$ 467,415	467,060		569,065	169,623	(52,585)	(219,043)	355
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	9,974	9,201			9,201			773
Currency translation adjustment, net	(14,368)	(14,032)					(14,032)	(336)
Pension liability adjustments, net of tax	148	148					148
Derivative gain	2	2					2
Stock-based compensation (in shares)			266,817
Stock-based compensation	32	32		(2,388)		2,420
Issuance of treasury stock under 401(k) plan (in shares)			29,523
Issuance of treasury stock under 401(k) plan	441	441		174		267
Common stock repurchase (in shares)			(100,000)
Common stock repurchase	(1,402)	(1,402)				(1,402)
Common stock issuance (in shares)			11,921,766
Common stock issuance	168,693	168,693		168,693
Balance, ending (in shares) at Mar. 31, 2024			72,833,961
Balance, ending at Mar. 31, 2024	$ 630,935	630,143		735,544	178,824	(51,300)	(232,925)	792
Balance, beginning (in shares) at Dec. 31, 2023	60,715,855		60,715,855
Balance, beginning at Dec. 31, 2023	$ 467,415	467,060		569,065	169,623	(52,585)	(219,043)	355
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(4,803)
Currency translation adjustment, net	(19,667)
Pension liability adjustments, net of tax	$ 16
Common stock repurchase (in shares)	(1,925,000)
Common stock repurchase	$ (16,100)
Balance, ending (in shares) at Sep. 30, 2024	71,184,028		71,184,028
Balance, ending at Sep. 30, 2024	$ 598,054	597,767		738,420	162,724	(64,424)	(238,953)	287
Balance, beginning (in shares) at Mar. 31, 2024			72,833,961
Balance, beginning at Mar. 31, 2024	630,935	630,143		735,544	178,824	(51,300)	(232,925)	792
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	3,422	2,149			2,149			1,273
Currency translation adjustment, net	(16,363)	(18,576)					(18,576)	2,213
Pension liability adjustments, net of tax	(161)	(161)					(161)
Derivative loss	(74)	(74)					(74)
Stock-based compensation (in shares)			78,530
Stock-based compensation	1,769	1,769		1,058		711
Issuance of treasury stock under 401(k) plan (in shares)			36,753
Issuance of treasury stock under 401(k) plan	451	451		118		333
Common stock repurchase (in shares)			(775,000)
Common stock repurchase	(6,360)	(6,360)				(6,360)
Balance, ending (in shares) at Jun. 30, 2024			72,174,244
Balance, ending at Jun. 30, 2024	613,619	609,341		736,720	180,973	(56,616)	(251,736)	4,278
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(18,199)	(18,249)			(18,249)			50
Currency translation adjustment, net	11,064	12,893					12,893	(1,829)
Pension liability adjustments, net of tax	29	29					29
Derivative loss	(139)	(139)					(139)
Stock-based compensation (in shares)			0
Stock-based compensation	1,800	1,800		1,800
Issuance of treasury stock under 401(k) plan (in shares)			59,784
Issuance of treasury stock under 401(k) plan	$ 436	436		(100)		536
Common stock repurchase (in shares)	(1,050,000)		(1,050,000)
Common stock repurchase	$ (8,344)	(8,344)				(8,344)
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	$ 2,212							2,212
Balance, ending (in shares) at Sep. 30, 2024	71,184,028		71,184,028
Balance, ending at Sep. 30, 2024	$ 598,054	$ 597,767		$ 738,420	$ 162,724	$ (64,424)	$ (238,953)	$ 287

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (4,803)	$ 84,988
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	40,059	31,598
Deferred income tax provision	21,646	5,868
Income on indirect taxes	0	(3,096)
Loss (gain) on fixed asset and investment sale	625	(409)
Stock-based compensation	3,601	3,700
Issuance of stock under 401(k) plan	1,328	1,329
Proceeds from property insurance settlement	(3,537)	0
Foreign currency loss (gain)	1,375	(2,348)
(Increase) decrease in assets, net of acquisitions:
Accounts receivable	28,886	17,503
Inventories	53,914	32,197
Prepaid and other current assets	10,856	18,386
Other assets	(2,431)	(410)
Increase (decrease) in liabilities, net of acquisitions:
Accounts payable	(28,502)	(62,751)
Other current liabilities	8,317	12,241
Other liabilities	1,417	1,310
Net cash provided by operating activities	132,751	140,106
Cash flows from investing activities:
Capital expenditures	(52,318)	(41,480)
Business acquisition, net of cash acquired	(143,643)	0
Proceeds from sale of investment	1,791	0
Proceeds from property insurance settlement	3,537	0
Proceeds from sale of fixed assets	1,603	1,795
Net cash used for investing activities	(189,030)	(39,685)
Cash flows from financing activities:
Proceeds from borrowings	159,614	6,628
Repayments of debt	(66,601)	(25,017)
Payment of debt issuance costs	(3,115)	0
Repurchase of common stock	(16,106)	(19,064)
Other financing activities	(738)	(2,540)
Net cash provided by (used for) financing activities	73,054	(39,993)
Effect of exchange rate changes on cash	(9,733)	(8,103)
Net increase in cash and cash equivalents	7,042	52,325
Cash and cash equivalents, beginning of period	220,251	159,577
Cash and cash equivalents, end of period	227,293	211,902
Supplemental information:
Interest paid	20,500	15,971
Income taxes paid, net of refunds received	16,422	17,581
Non cash financing activity:
Issuance of common stock in connection with business acquisition	$ 168,693	$ 0

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan or the Company) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The accompanying unaudited condensed consolidated interim financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position and the results of operations and cash flows for the periods presented, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024 (the 2023 Form 10-K). All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates. Reclassifications The Company has reclassified certain prior period amounts in the consolidated balance sheet, primarily lease liabilities, warranty liabilities and interest expense and interest income, to conform with the current period presentation. Business Combinations We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification Topic 805, Business Combinations, which requires an allocation of the consideration we paid to the identifiable assets, intangible assets and liabilities based on the estimated fair values as of the closing date of the acquisition. The excess of the fair value of the purchase price over the fair values of these identifiable assets, intangible assets and liabilities is recorded as goodwill. Purchased intangibles other than goodwill are initially recognized at fair value and amortized over their useful lives unless those lives are determined to be indefinite. The valuation of acquired assets will impact future operating results. The fair value of identifiable intangible assets is determined using an income approach on an individual asset basis. Specifically, we use the multi-period excess earnings method to determine the fair value of customer relationships and the relief-from-royalty approach to determine the fair value of the tradename and proprietary technology. Determining the fair value of acquired intangibles involves significant estimates and assumptions, including forecasted revenue growth rates, EBIT margins, percentage of revenue attributable to the tradename, contributory asset charges, customer attrition rate, market-participant discount rates, the assumed royalty rates and income tax rates. The determination of the useful life of an intangible asset other than goodwill is based on factors including historical tradename performance with respect to consumer name recognition, geographic market presence, market share, plans for ongoing tradename support and promotion, customer attrition rate, and other relevant factors. Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over the fair value of net assets acquired. Goodwill is not amortized. For goodwill, impairment tests are required at least annually, or more frequently if events or circumstances indicate that it may be impaired, when some portion but not all of a reporting unit is disposed of or classified as assets held for sale, or when a change in the composition of reporting units occurs for other reasons, such as a change in segments. Based on its current organizational structure, the Company identified reporting units for which cash flows are determinable and to which goodwill was allocated. The Company will perform its goodwill impairment test annually in the fourth quarter. A quantitative test is used to determine existence of goodwill impairment and the amount of the impairment loss at the reporting unit level. The quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses an income-based valuation method, determining the present value of estimated future cash flows, to estimate the fair value of a reporting unit. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Factors used in the impairment analysis require significant judgment, and actual results may differ from assumed and estimated amounts. The Company uses its own market assumptions including internal projections of future cash flows, discount rates and other assumptions considered reasonable in the analysis and reflective of market participant assumptions. These forecasts are based on historical performance and future estimated results. The discount rates utilized are based on a capital asset pricing model and published relevant industry rates, which take into consideration the risks and uncertainties inherent to the reporting units and in the internally developed forecasts. Other intangible assets with determinable lives primarily consist of customer lists/relationships and trademarks. Refer to Note 2 to the condensed consolidated financial statements for further information. Long-lived assets (including definite-lived intangible assets) are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, such as a significant sustained change in the business climate. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows is prepared and compared to its carrying value. If an asset group is determined to be impaired, the loss is measured by the excess of the carrying amount of the asset group over its fair value, as determined by an estimate of discounted future cash flows. Fair Value of Financial Instruments The Company’s financial assets measured at fair value on a recurring basis include investments in marketable equity securities of $12.6 million as of September 30, 2024, which are Level 1 fair value measurements as the Company uses quoted market prices. Cash and cash equivalents are carried at cost, which approximates fair value because of the short-term maturities of these instruments. The Company’s revolving credit facility and notes payable are carried at cost, which approximates fair value due to their short terms or stated rates, which are considered Level 2 fair value measurements. Our 7.00% senior secured notes due 2028 were carried at a cost of $396.9 million at September 30, 2024. The fair value of the senior secured notes due 2028 at September 30, 2024, as determined by an independent pricing platform using real-time trade data, was approximately $395.8 million, which was determined to be a level 2 fair value measurement. 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. For the three and nine months ended September 30, 2024, the Company recognized a net monetary loss of $0.8 million and $2.5 million recorded in foreign exchange loss in the consolidated statements of operations associated with the application of ASC 830. 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 triggered additional economic and other sanctions enacted by the United States and other countries throughout the world. The scope of potential additional sanctions is unknown. The Company currently owns 64.3% of the Voltyre-Prom, a leading producer of agricultural and industrial tires in Volgograd, Russia, which represents approximately 5% and 7% of consolidated assets of Titan as of September 30, 2024 and December 31, 2023, respectively. The Russian operations represent 4% and 5% of consolidated global sales for the three months ended September 30, 2024 and 2023, respectively, while representing 4% and 6% of consolidated global sales for the nine months ended September 30, 2024 and 2023, respectively. 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. Share Repurchase Program 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 1,050,000 shares of its common stock totaling $8.3 million during the three months ended September 30, 2024, and 1,925,000 shares of its common stock totaling $16.1 million during the nine months ended September 30, 2024 and 2,653,786 shares of its common stock totaling $32.6 million during 2023. As of September 30, 2024, $1.3 million remains available for future share repurchases under this program. The Company records treasury stock using the cost method. 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 $8.5 million at September 30, 2024, and $7.4 million at December 31, 2023. New Accounting Pronouncements to be Adopted in Future Periods In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 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.

BUSINESS COMBINATION

BUSINESS COMBINATION	9 Months Ended
	Sep. 30, 2024
Business Combination and Asset Acquisition [Abstract]
BUSINESS COMBINATION	BUSINESS COMBINATION Acquisition of The Carlstar Group On February 29, 2024, the Company acquired 100% of the equity interests of The Carlstar Group, LLC ("Carlstar") for the following purchase consideration and subject to a working capital adjustment based on an agreed upon working capital target (amounts in thousands): Purchase Consideration Titan International, Inc. common stock $ 168,693 Base cash consideration, net of cash acquired of $10,288 127,500 $ 296,193 Additional cash consideration for excess net working capital acquired 19,759 Other debt-like items (3,616) Total purchase consideration, net of cash acquired $ 312,336 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 has 17 manufacturing and distribution facilities located in four countries and provides solutions to customers in North America, Europe and China. Since the initial measurement of the identified assets acquired and liabilities assumed, the Company has made significant progress in completing certain of our additional valuation and analyses. As such, we have updated our initial allocation of the purchase consideration during the third quarter of 2024. The principle changes include (i) increase in the value of inventory to include inventory in-transit to a customer locations for which transfer of title has not occurred, (ii) decrease in the value of Property, Plant, and Equipment primarily to reflect updated assumptions surrounding disposed and idle assets, and (iii) decrease in the fair market value adjustment associated with a certain right-of-use asset based on updated underlying valuation assumptions. The following table summarizes the measurement period changes since the first quarter of 2024, as well as the updated and initial preliminary allocation of purchase price consideration to the major classes of assets and liabilities (amounts in thousands) as of February 29, 2024: Updated Purchase Price Allocation Measurement Period Changes Initial Purchase Price Allocation Accounts receivable $ 92,043 $ (6,396) $ 98,439 Inventories 150,900 4,912 145,988 Prepaid and other current assets 13,339 — 13,339 Property, plant, and equipment 111,580 (16,582) 128,162 Other long-term assets 94,304 (1,899) 96,203 Goodwill 35,810 22,943 12,867 Intangible assets 12,000 (3,770) 15,770 Fair value of assets acquired $ 509,976 $ (792) $ 510,768 Accounts payable $ 66,055 $ — $ 66,055 Other current liabilities 26,377 — 26,377 Operating leases 95,476 — 95,476 Deferred tax liabilities 8,459 (1,992) 10,451 Other long-term liabilities 1,273 (236) 1,509 Fair value of liabilities assumed $ 197,640 $ (2,228) $ 199,868 Purchase Price $ 312,336 $ 1,436 $ 310,900 Goodwill represents value the Company expects to be created by combining the operations of the acquired business with the Company's operations, including the expansion of customer relationships, access to new customers, and potential cost savings and synergies. Goodwill related to the acquisition is expected to be deductible for tax purposes. The preliminary carrying value of goodwill by operating segment as of September 30, 2024 is as follows: Carrying Value as of September 30, 2024 Agricultural $ 5,478 Earthmoving/construction — Consumer 30,332 Total $ 35,810 The purchase consideration was allocated on a provisional basis to the estimated fair value of assets acquired and liabilities assumed for Carlstar as of February 29, 2024. These fair value estimates are preliminary and subject to change as management completes further analyses and studies. The following table summarizes the carrying amounts and weighted average lives of the acquired intangible assets as of February 29, 2024 (amounts in thousands): Carrying Value Weighted Average Amortization Customer lists/relationships $ 6,500 10.00 Trade names 5,500 13.50 Total $ 12,000 11.90 Through September 30, 2024, the actual revenue and income before taxes of Carlstar since the acquisition date of February 29, 2024 included in the Consolidated Statement of Operations is as shown below (amounts in thousands). The net income includes the effect of fair value adjustments for the amortization of inventory, intangible assets, and depreciation of property, plant and equipment. From Acquisition Date to September 30, 2024 Carlstar revenue $ 316,496 Carlstar income before taxes 22,069 The following is the unaudited pro forma financial information for the three and nine months ended September 30, 2024 and 2023 that reflects our results of our operations as if the acquisition of Carlstar had been completed on January 1, 2023. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2023, nor is it indicative of the future consolidated results of operations or financial position of the combined companies (amounts in thousands, except per share data). Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Pro forma revenues $ 447,985 $ 547,410 $ 1,564,182 $ 1,916,526 Pro forma net (loss) income (17,399) 24,731 18,798 89,786 Net (loss) income per common share, basic $ (0.24) $ 0.33 $ 0.26 $ 1.20 Net (loss) income per common share, diluted (0.24) 0.33 0.26 1.19 These pro forma amounts have been calculated after applying Titan's accounting policies and making certain adjustments, which primarily relate to: (i) severance-related costs, (ii) adjustments relating to the fair value step-ups to inventory, and (iii) transaction-related costs of both Titan and Carlstar. These pro forma amounts were adjusted to be excluded from the unaudited pro forma information for the three and nine months ended September 30, 2024 and were adjusted to include these amounts for the three and nine months ended September 30, 2023. Total acquisition-related costs for the three and nine months ended September 30, 2024 were $0.0 million and $6.2 million, respectively.

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	ACCOUNTS RECEIVABLE, NET Accounts receivable consisted of the following (amounts in thousands): September 30, December 31, Accounts receivable $ 276,954 $ 224,485 Allowance for credit losses (4,117) (5,340) Accounts receivable, net $ 272,837 $ 219,145 Accounts receivable are reduced by an estimated allowance for credit losses which is based on known risks and historical losses. Changes in the allowance for credit losses during the nine months ended September 30, 2024 and 2023, respectively, consisted of the following (amounts in thousands): 2024 2023 Balance at January 1, $ 5,340 $ 6,170 Provision charged to expense 141 — Write-offs of accounts receivable (1,364) (517) Balance at September 30, $ 4,117 $ 5,653

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (amounts in thousands): September 30, December 31, Raw material $ 109,236 $ 108,504 Work-in-process 48,808 39,921 Finished goods 295,588 216,731 $ 453,632 $ 365,156

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consisted of the following (amounts in thousands): September 30, December 31, Land and improvements $ 45,570 $ 42,140 Buildings and improvements 267,847 243,241 Machinery and equipment 706,982 628,975 Tools, dies and molds 127,158 116,328 Construction-in-process 54,511 29,744 1,202,068 1,060,428 Less accumulated depreciation (761,770) (738,734) $ 440,298 $ 321,694 Depreciation on property, plant and equipment were $12.7 million and $9.6 million for the three months ended September 30, 2024 and 2023, respectively, and $38.6 million and $30.4 million for the nine months ended September 30, 2024 and 2023, respectively.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET The components of intangible assets, net consisted of the following (amounts in thousands): Weighted- Average Useful Lives (in Years) September 30, December 31, Amortizable intangible assets: Customer lists/relationships 13.50 $ 6,500 $ — Trade names 10.00 5,500 — Other intangibles 15.87 3,384 3,384 Total at cost 15,384 3,384 Less accumulated amortization (2,348) (1,953) $ 13,036 $ 1,431 Amortization related to intangible assets were $(0.3) million and $0.2 million for the three months ended September 30, 2024 and 2023, respectively, and $0.8 million and $0.5 million for the nine months ended September 30, 2024 and 2023, respectively. For the three months ended September 30, 2024, the Company recorded a favorable adjustment to amortization expense related to the reduction of amortizable intangible assets associated with a measurement period adjustment associated with the Carlstar purchase price allocation. The estimated aggregate amortization expense at September 30, 2024, for each of the years (or other periods) set forth below was as follows (amounts in thousands): October 1 - December 31, 2024 $ 691 2025 1,249 2026 1,190 2027 1,154 2028 1,154 Thereafter 7,598 $ 13,036

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2024
Other Liabilities, Current [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES Other current liabilities consisted of the following (amounts in thousands): September 30, December 31, Compensation and benefits $ 59,551 $ 47,543 Warranty 13,240 11,848 Accrued insurance benefits 20,898 19,162 Customer rebates and deposits 16,225 15,490 Accrued other taxes 14,200 13,762 Accrued interest 13,245 4,955 Foreign government grant (1) 3,867 4,509 Other 27,671 22,109 $ 168,897 $ 139,378 (1) The Company received government subsidies in 2023 associated with capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidies is used to offset existing payables to governmental entities 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 its 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	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
WARRANTY	WARRANTY Changes in the warranty liability during the nine months ended September 30, 2024 and 2023, respectively, consisted of the following (amounts in thousands): 2024 2023 Warranty liability at beginning of the period $ 21,710 $ 19,914 Provision for warranty liabilities 11,689 10,334 Warranty payments made (11,854) (9,578) Other adjustments, including acquisition of Carlstar 1,784 — Warranty liability at end of the period $ 23,329 $ 20,670 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 and other long-term liabilities on the Condensed Consolidated Balance Sheets.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt consisted of the following (amounts in thousands): September 30, 2024 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (3,067) $ 396,933 Revolving credit facility 97,000 — 97,000 Titan Europe credit facilities 17,528 — 17,528 Other debt 6,993 — 6,993 Total debt 521,521 (3,067) 518,454 Less amounts due within one year 15,025 — 15,025 Total long-term debt $ 506,496 $ (3,067) $ 503,429 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 The weighted-average interest rates on short-term borrowings within one year at September 30, 2024 and December 31, 2023, were approximately 4.0% and 3.1%, respectively. Aggregate principal maturities of long-term debt at September 30, 2024 for each of the years (or other periods) set forth below were as follows (amounts in thousands): October 1 - December 31, 2024 $ 9,028 2025 8,603 2026 4,683 2027 485 2028 496,389 Thereafter 2,333 $ 521,521 7.00% senior secured notes due 2028 On April 22, 2021, the Company issued $400 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. The Company is subject to certain covenants associated with the senior secured notes due 2028 and remained in compliance with these debt covenants at September 30, 2024. Titan Europe Credit Facilities The Titan Europe credit facilities include borrowings from various institutions totaling $17.5 million in aggregate principal amount at September 30, 2024. Maturity dates on this debt range from less than one year to five years. The interest rates range from 0.5% to 6.5%. Revolving Credit Facility In connection with the acquisition of Carlstar, Titan entered into a new domestic credit facility which was effective on February 29, 2024. The new credit facility, with Bank of America as agent, consists of a $225.0 million revolving line of credit (the previous credit facility was $125.0 million) and is collateralized by accounts receivable and inventory of certain of the Company's domestic and Canadian subsidiaries. In addition, swingline loans and letters of credit are available under the facility up to an aggregate outstanding amount of $20.0 million for swingline loans and $50.0 million for letters of credit. The credit facility has a five-year term and can be expanded by up to $50.0 million through an uncommitted accordion provision within the agreement. It is scheduled to mature on February 28, 2029 or 91 days prior to the maturity of the Company's 7.00% secured notes due in 2028. The new credit 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 interest rate of the credit facility is based on the prevailing SOFR rate subject to certain debt levels within each month. As of September 30, 2024, the interest rate was 6.93%. The Company's amount available for borrowing under the new credit facility at September 30, 2024 totaled $191.0 million, based on eligible accounts receivable and inventory balances. With outstanding letters of credit totaling $9.9 million and $97.0 million in borrowings under the revolving credit facility, the net amount available for borrowing under the new credit facility totaled $84.1 million at September 30, 2024. The Company is subject to certain affirmative and negative covenants under the credit facility, including limits on dividends and repurchases of the Company’s stock, that are described in the credit and security agreement. The Company is in compliance with the debt covenants at September 30, 2024. Prior to February 29, 2024, the Company had a $125.0 million revolving credit facility with BMO Harris Bank N.A., as agent, and other financial institutions party thereto, until the completion of the new credit facility noted above. The $125.0 million credit facility was collateralized by accounts receivable and inventory of certain of the Company’s domestic subsidiaries and was scheduled to mature in October 2026. The credit facility could have been expanded by up to $50.0 million through an accordion provision within the agreement. From time to time, Titan's availability under this credit facility could have been less than $125.0 million as a result of outstanding letters of credit and eligible accounts receivable and inventory balances at certain of its domestic subsidiaries. This credit facility was terminated in connection with the effectiveness of the new credit facility. Other Debt The Company has a working capital loan at Titan Pneus do Brasil Ltda at varying interest rates between approximately 6.9% and 7.6%, which totaled $7.0 million at September 30, 2024. The maturity dates on this loan range from one year to two years. The Company expects to negotiate an extension of the maturity dates on this loan with the applicable financial institution or to repay the loan, as needed.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
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 Topic 842, Leases, 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 Condensed Consolidated Statements 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 Condensed Consolidated Statements of Operations. Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification September 30, December 31, Operating lease ROU assets Operating lease assets $ 120,330 $ 11,955 Operating lease current liabilities Operating leases current liabilities $ 13,077 $ 5,021 Operating lease long-term liabilities Operating leases long-term liabilities 109,187 6,153 Total operating lease liabilities $ 122,264 $ 11,174 Finance lease, gross Property, plant & equipment, net $ 6,809 $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (4,797) (3,489) Finance lease, net $ 2,012 $ 1,686 Finance lease current liabilities Other current liabilities $ 1,180 $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,428 1,321 Total finance lease liabilities $ 2,608 $ 2,414 At September 30, 2024, maturities of lease liabilities were as follows (amounts in thousands): Operating Finance October 1 - December 31, 2024 $ 5,606 $ 403 2025 19,111 1,057 2026 17,942 805 2027 15,215 389 2028 13,452 195 Thereafter 129,007 16 Total lease payments $ 200,333 $ 2,865 Less imputed interest 78,069 257 $ 122,264 $ 2,608 Weighted average remaining lease term (in years) 13.53 2.66 Supplemental cash flow information related to leases for the nine months ended September 30, 2024 were as follows: operating cash flows from operating leases were $5.5 million.
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 Topic 842, Leases, 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 Condensed Consolidated Statements 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 Condensed Consolidated Statements of Operations. Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification September 30, December 31, Operating lease ROU assets Operating lease assets $ 120,330 $ 11,955 Operating lease current liabilities Operating leases current liabilities $ 13,077 $ 5,021 Operating lease long-term liabilities Operating leases long-term liabilities 109,187 6,153 Total operating lease liabilities $ 122,264 $ 11,174 Finance lease, gross Property, plant & equipment, net $ 6,809 $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (4,797) (3,489) Finance lease, net $ 2,012 $ 1,686 Finance lease current liabilities Other current liabilities $ 1,180 $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,428 1,321 Total finance lease liabilities $ 2,608 $ 2,414 At September 30, 2024, maturities of lease liabilities were as follows (amounts in thousands): Operating Finance October 1 - December 31, 2024 $ 5,606 $ 403 2025 19,111 1,057 2026 17,942 805 2027 15,215 389 2028 13,452 195 Thereafter 129,007 16 Total lease payments $ 200,333 $ 2,865 Less imputed interest 78,069 257 $ 122,264 $ 2,608 Weighted average remaining lease term (in years) 13.53 2.66 Supplemental cash flow information related to leases for the nine months ended September 30, 2024 were as follows: operating cash flows from operating leases were $5.5 million.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT 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 also sponsors a number of defined contribution plans in the U.S. and at foreign subsidiaries. The Company contributed approximately $0.7 million to the pension plans during the nine months ended September 30, 2024 and $0.1 million are expected to be contributed to the pension plans during the remainder of 2024. The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Service cost $ 89 $ 112 $ 455 $ 331 Interest cost 917 1,022 2,820 3,097 Expected return on assets (1,299) (1,167) (3,901) (3,501) Amortization of unrecognized prior service cost (14) (16) (44) (49) Amortization of net unrecognized loss 68 241 204 719 Net periodic pension (benefit) cost $ (239) $ 192 $ (466) $ 597

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2024
Variable Interest Entity, Measure of Activity [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company held a variable interest in one joint venture for which Titan is the primary beneficiary. Titan sold the 50% ownership interest in a manufacturer of undercarriage components and complete track systems for earthmoving machines in India on September 30, 2024. Prior to September 30, 2024, as the primary beneficiary of this variable interest entity (VIE), the VIE's assets, liabilities, and results of operations are included in the Company’s Condensed Consolidated Financial Statements. The other equity holder's interests are reflected in “Net income attributable to noncontrolling interests” in the Condensed Consolidated Statements of Operations and “Noncontrolling interests” in the Condensed Consolidated Balance Sheets. The following table summarizes the carrying amount of the VIE's assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets (amounts in thousands): September 30, December 31, Cash and cash equivalents $ — $ 355 Inventory — 1,431 Other current assets — 2,364 Property, plant and equipment, net — 2,477 Other non-current assets — 222 Total assets $ — $ 6,849 Current liabilities $ — $ 1,117 Other long-term liabilities — 869 Total liabilities $ — $ 1,986 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 Condensed 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 as of the dates set forth below were as follows (amounts in thousands): September 30, December 31, Investments $ 8,030 $ 7,127 Total VIE assets 8,030 7,127 Accounts payable to the non-consolidated VIEs 3,540 3,578 Maximum exposure to loss $ 11,570 $ 10,705

ROYALTY EXPENSE

ROYALTY EXPENSE	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
ROYALTY EXPENSE	ROYALTY EXPENSEThe Company has trademark license agreements with The Goodyear Tire & Rubber Company to manufacture and sell certain farm tires under the Goodyear brand. 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. The Company also has a trademark license agreement with Carlisle Companies, Inc. to manufacture and sell certain tires under the Carlisle brand. This trademark license agreement is scheduled to expire in 2033. Royalty expenses were $2.3 million and $2.3 million for the three months ended September 30, 2024 and 2023, respectively, and $7.6 million and $7.2 million for the nine months ended September 30, 2024 and 2023, respectively.

OTHER INCOME

OTHER INCOME	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
OTHER INCOME	OTHER INCOME Other income consisted of the following (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Income on indirect taxes (1) $ — $ — $ — $ 475 Gain on property insurance settlement (2) 520 — 2,433 — Loss on sale of investment (3) (1,032) — (1,032) — Equity investment income 165 222 733 954 Gain on sale of assets 19 87 407 158 Other income 703 152 1,516 822 $ 375 $ 461 $ 4,057 $ 2,409 (1) In May 2022, the Brazilian tax authorities approved indirect tax credits to be applied against future tax obligations. For the nine months ended September 30, 2023, the Company recorded indirect tax credits of $0.5 million within other income. (2) The gain on property insurance settlement relates to the receipt of insurance proceeds of $3.5 million offset by costs to repair one of the Company's operating facilities in Italy related to a 2023 hail storm weather event. During the three months ended September 30, 2024, the Company also received insurance proceeds of $0.5 million associated with certain equipment at our North American wheel facility. (3) In September 2024, the Company sold its remaining ownership interest in an Indian undercarriage business and incurred a loss of $1.0 million as a result of the sale. The sale agreement includes a commitment to purchase approximately $1.7 million of products from the Indian undercarriage business over a two year period.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded income tax expense of $12.9 million and $4.7 million for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded income tax expense of $38.1 million and $28.4 million, respectively. The Company's effective income tax rate was (244.4)% and 19.4% for the three months ended September 30, 2024 and 2023, respectively, and 114.4% and 25.0% for the nine months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024, the rate was negatively impacted by non-deductible interest expense in the United States, foreign branch income related to the Carlstar acquisition, and one-time impacts associated with transaction costs, which were also not fully deductible for income tax purposes. Additionally the rate was impacted by the results of foreign income tax rate differential on the mix of earnings, non-deductible royalty expenses in certain jurisdictions, and certain foreign inclusion items on the domestic provision. The Company’s 2023 income tax expense and rate differed from the amount of income tax determined by applying the U.S. Federal income tax rate to pre-tax income primarily as a result of foreign income tax rate differential on the mix of earnings, non-deductible royalty expenses in certain jurisdictions, the valuation allowance on the interest expense carryforward, and certain foreign inclusion items on the domestic provision. The Company continues to monitor the realization of its deferred tax assets and assesses the need for a valuation allowance. The Company analyzes available positive and negative evidence to determine if a valuation allowance is needed based on the weight of the evidence. This objectively verifiable evidence primarily includes the past three years' profit and loss positions. This process requires management to make estimates, assumptions, and judgments that are uncertain in nature. The Company has established valuation allowances with respect to certain deferred tax assets in the U.S. and certain foreign jurisdictions and continues to monitor and assess the need for valuation allowances in all its jurisdictions.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(LOSS) EARNINGS PER SHARE (Loss) earnings per share (EPS) were as follows (amounts in thousands, except per share data): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income attributable to Titan and applicable to common shareholders $ (18,249) $ 19,280 $ (6,899) $ 81,325 Determination of shares: Weighted average shares outstanding (basic) 72,013 62,598 69,900 62,810 Effect of restricted stock and stock options — 497 — 461 Weighted average shares outstanding (diluted) 72,013 63,095 69,900 63,271 (Loss) earnings per common share: Basic $ (0.25) $ 0.31 $ (0.10) $ 1.29 Diluted $ (0.25) $ 0.31 $ (0.10) $ 1.29 The effect of restricted stock and stock options has been excluded for the three and nine months ended September 30, 2024, as the effect would have been antidilutive. The weighted average value excluded for equity awards for the three and nine months ended September 30, 2024 was 0.4 million and 0.5 million, respectively.

LITIGATION

LITIGATION	9 Months Ended
	Sep. 30, 2024
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.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT 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, “Basis of Presentation and Significant Accounting Policies” to these Notes to the Condensed Consolidated Financial Statements. 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, separated by market segments, for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net sales Agricultural $ 175,439 $ 212,967 $ 631,442 $ 787,973 Earthmoving/construction 136,313 155,045 467,085 528,652 Consumer 136,233 33,769 363,837 114,976 $ 447,985 $ 401,781 $ 1,462,364 $ 1,431,601 Gross profit Agricultural $ 16,720 $ 37,026 $ 89,642 $ 135,012 Earthmoving/construction 11,653 22,257 55,929 88,583 Consumer 30,432 6,790 71,046 23,930 $ 58,805 $ 66,073 $ 216,617 $ 247,525 Income from operations Agricultural $ 1,910 $ 21,383 $ 41,692 $ 86,071 Earthmoving/construction (1,911) 8,501 13,970 46,561 Consumer 11,282 4,526 22,844 17,183 Corporate & Unallocated (8,474) (7,435) (28,305) (21,806) Income from operations $ 2,807 $ 26,975 $ 50,201 $ 128,009 Interest expense (9,005) (7,229) (27,103) (22,446) Interest income 3,064 3,298 8,483 6,261 Foreign exchange (loss) gain (2,525) 876 (2,338) (882) Other income, net 375 461 4,057 2,409 (Loss) income before income taxes $ (5,284) $ 24,381 $ 33,300 $ 113,351 Assets by segment were as follows as of the dates set forth below (amounts in thousands): September 30, December 31, Total assets Agricultural $ 612,320 $ 559,607 Earthmoving/construction 493,508 497,508 Consumer 541,764 155,602 Corporate & Unallocated 39,132 76,528 $ 1,686,724 $ 1,289,245 The table below presents net sales by products and reportable segments for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Three months ended September 30, 2024 Wheels and Tires [including assemblies] $ 165,017 $ 45,424 $ 130,691 $ 341,132 Undercarriage systems and components 10,422 90,889 5,542 106,853 Total $ 175,439 $ 136,313 $ 136,233 $ 447,985 Nine months ended September 30, 2024 Wheels and Tires [including assemblies] $ 599,760 $ 171,021 $ 344,275 $ 1,115,056 Undercarriage systems and components 31,682 296,064 19,562 347,308 Total $ 631,442 $ 467,085 $ 363,837 $ 1,462,364 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Three months ended September 30, 2023 Wheels and Tires [including assemblies] $ 200,860 $ 58,846 $ 29,286 $ 288,992 Undercarriage systems and components 12,107 96,199 4,483 112,789 Total $ 212,967 $ 155,045 $ 33,769 $ 401,781 Nine months ended September 30, 2023 Wheels and Tires [including assemblies] $ 753,757 $ 204,063 $ 97,707 $ 1,055,527 Undercarriage systems and components 34,216 324,589 17,269 376,074 Total $ 787,973 $ 528,652 $ 114,976 $ 1,431,601

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive loss consisted of the following (amounts in thousands): Currency Gain (Loss) on Unrecognized Total Balance at July 1, 2024 $ (250,063) $ 668 $ (2,341) $ (251,736) Currency translation adjustments, net 12,893 — — 12,893 Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(15) — — 29 29 Derivative loss — (139) — (139) Balance at September 30, 2024 $ (237,170) $ 529 $ (2,312) $ (238,953) Currency Gain (Loss) on Unrecognized Total Balance at January 1, 2024 $ (217,455) $ 740 $ (2,328) $ (219,043) Currency translation adjustments, net (19,715) — — (19,715) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $26 — — 16 16 Derivative loss — (211) — (211) Balance at September 30, 2024 $ (237,170) $ 529 $ (2,312) $ (238,953) Currency Gain (Loss) on Unrecognized Total Balance at July 1, 2023 $ (233,461) $ 1,074 $ (9,174) $ (241,561) Currency translation adjustments, net (25,420) — — (25,420) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(21) — — 80 80 Derivative loss — (82) — (82) Balance at September 30, 2023 $ (258,881) $ 992 $ (9,094) $ (266,983) Currency Gain (Loss) on Unrecognized Total Balance at January 1, 2023 $ (243,712) $ 1,224 $ (9,267) $ (251,755) Currency translation adjustments, net (15,169) — — (15,169) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(51) — — 173 173 Derivative loss — (232) — (232) Balance at September 30, 2023 $ (258,881) $ 992 $ (9,094) $ (266,983)

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 18, 2024, the Company entered into a Stock Repurchase Agreement (the “Stock Repurchase Agreement”) with MHR Capital Partners Master Account LP, a limited partnership organized in Anguilla, British West Indies, MHR Capital Partners (100) LP, a Delaware limited partnership, and MHR Institutional Partners III L.P., a Delaware limited partnership (together, the “MHR Funds”). Pursuant to the Stock Repurchase Agreement, the Company purchased in a privately negotiated transaction from the MHR Funds, and the MHR Funds sold to the Company, an aggregate of 8,005,000 shares (the “MHR Shares”) of the Company’s Common Stock, $0.0001 par value per share, at a per share price of $7.20 per share, for aggregate cash consideration equal to $57,636,000 (the “MHR Repurchase”). The cash consideration used to purchase the MHR Shares was funded from a combination of cash of approximately $12.6 million and borrowings of $45 million under the Company's domestic credit facility. Immediately prior to the MHR Repurchase, the Company had approximately $84 million of availability under the credit facility, leaving approximately $39 million available following the MHR Repurchase.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net (loss) income attributable to Titan and applicable to common shareholders	$ (18,249)	$ 19,280	$ (6,899)	$ 81,325

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements include the accounts of Titan International, Inc. and its subsidiaries (Titan or the Company) and have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and in accordance with the rules and regulations of the United States Securities and Exchange Commission (the SEC). Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The accompanying unaudited condensed consolidated interim financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the Company's financial position and the results of operations and cash flows for the periods presented, and should be read in conjunction with the consolidated financial statements and the related notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024 (the 2023 Form 10-K). All intercompany transactions have been eliminated in consolidation. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the condensed consolidated financial statements. Actual results could differ from these estimates.
Reclassifications	Reclassifications The Company has reclassified certain prior period amounts in the consolidated balance sheet, primarily lease liabilities, warranty liabilities and interest expense and interest income, to conform with the current period presentation.
Business Combinations	Business Combinations We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification Topic 805, Business Combinations, which requires an allocation of the consideration we paid to the identifiable assets, intangible assets and liabilities based on the estimated fair values as of the closing date of the acquisition. The excess of the fair value of the purchase price over the fair values of these identifiable assets, intangible assets and liabilities is recorded as goodwill. Purchased intangibles other than goodwill are initially recognized at fair value and amortized over their useful lives unless those lives are determined to be indefinite. The valuation of acquired assets will impact future operating results. The fair value of identifiable intangible assets is determined using an income approach on an individual asset basis. Specifically, we use the multi-period excess earnings method to determine the fair value of customer relationships and the relief-from-royalty approach to determine the fair value of the tradename and proprietary technology. Determining the fair value of acquired intangibles involves significant estimates and assumptions, including forecasted revenue growth rates, EBIT margins, percentage of revenue attributable to the tradename, contributory asset charges, customer attrition rate, market-participant discount rates, the assumed royalty rates and income tax rates. The determination of the useful life of an intangible asset other than goodwill is based on factors including historical tradename performance with respect to consumer name recognition, geographic market presence, market share, plans for ongoing tradename support and promotion, customer attrition rate, and other relevant factors.
Goodwill and Intangible Assets, Policy	Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over the fair value of net assets acquired. Goodwill is not amortized. For goodwill, impairment tests are required at least annually, or more frequently if events or circumstances indicate that it may be impaired, when some portion but not all of a reporting unit is disposed of or classified as assets held for sale, or when a change in the composition of reporting units occurs for other reasons, such as a change in segments. Based on its current organizational structure, the Company identified reporting units for which cash flows are determinable and to which goodwill was allocated. The Company will perform its goodwill impairment test annually in the fourth quarter. A quantitative test is used to determine existence of goodwill impairment and the amount of the impairment loss at the reporting unit level. The quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses an income-based valuation method, determining the present value of estimated future cash flows, to estimate the fair value of a reporting unit. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. Factors used in the impairment analysis require significant judgment, and actual results may differ from assumed and estimated amounts. The Company uses its own market assumptions including internal projections of future cash flows, discount rates and other assumptions considered reasonable in the analysis and reflective of market participant assumptions. These forecasts are based on historical performance and future estimated results. The discount rates utilized are based on a capital asset pricing model and published relevant industry rates, which take into consideration the risks and uncertainties inherent to the reporting units and in the internally developed forecasts. Other intangible assets with determinable lives primarily consist of customer lists/relationships and trademarks. Refer to Note 2 to the condensed consolidated financial statements for further information. Long-lived assets (including definite-lived intangible assets) are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, such as a significant sustained change in the business climate. If an indicator of impairment exists for any grouping of assets, an estimate of undiscounted future cash flows is prepared and compared to its carrying value. If an asset group is determined to be impaired, the loss is measured by the excess of the carrying amount of the asset group over its fair value, as determined by an estimate of discounted future cash flows.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Supplier Financing Program	Supplier Financing Program
New Accounting Pronouncements to be Adopted in Future Periods	New Accounting Pronouncements to be Adopted in Future Periods In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 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.

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	On February 29, 2024, the Company acquired 100% of the equity interests of The Carlstar Group, LLC ("Carlstar") for the following purchase consideration and subject to a working capital adjustment based on an agreed upon working capital target (amounts in thousands): Purchase Consideration Titan International, Inc. common stock $ 168,693 Base cash consideration, net of cash acquired of $10,288 127,500 $ 296,193 Additional cash consideration for excess net working capital acquired 19,759 Other debt-like items (3,616) Total purchase consideration, net of cash acquired $ 312,336
Schedule of Assets and Liabilities of Purchase Price Consideration	The following table summarizes the measurement period changes since the first quarter of 2024, as well as the updated and initial preliminary allocation of purchase price consideration to the major classes of assets and liabilities (amounts in thousands) as of February 29, 2024: Updated Purchase Price Allocation Measurement Period Changes Initial Purchase Price Allocation Accounts receivable $ 92,043 $ (6,396) $ 98,439 Inventories 150,900 4,912 145,988 Prepaid and other current assets 13,339 — 13,339 Property, plant, and equipment 111,580 (16,582) 128,162 Other long-term assets 94,304 (1,899) 96,203 Goodwill 35,810 22,943 12,867 Intangible assets 12,000 (3,770) 15,770 Fair value of assets acquired $ 509,976 $ (792) $ 510,768 Accounts payable $ 66,055 $ — $ 66,055 Other current liabilities 26,377 — 26,377 Operating leases 95,476 — 95,476 Deferred tax liabilities 8,459 (1,992) 10,451 Other long-term liabilities 1,273 (236) 1,509 Fair value of liabilities assumed $ 197,640 $ (2,228) $ 199,868 Purchase Price $ 312,336 $ 1,436 $ 310,900
Schedule of Goodwill	The preliminary carrying value of goodwill by operating segment as of September 30, 2024 is as follows: Carrying Value as of September 30, 2024 Agricultural $ 5,478 Earthmoving/construction — Consumer 30,332 Total $ 35,810
Schedule of Carrying Amounts and Weighted Average Lives of the Acquired Intangible Assets	The following table summarizes the carrying amounts and weighted average lives of the acquired intangible assets as of February 29, 2024 (amounts in thousands): Carrying Value Weighted Average Amortization Customer lists/relationships $ 6,500 10.00 Trade names 5,500 13.50 Total $ 12,000 11.90
Schedule of Business Acquisition, Pro Forma Information	Through September 30, 2024, the actual revenue and income before taxes of Carlstar since the acquisition date of February 29, 2024 included in the Consolidated Statement of Operations is as shown below (amounts in thousands). The net income includes the effect of fair value adjustments for the amortization of inventory, intangible assets, and depreciation of property, plant and equipment. From Acquisition Date to September 30, 2024 Carlstar revenue $ 316,496 Carlstar income before taxes 22,069 The following is the unaudited pro forma financial information for the three and nine months ended September 30, 2024 and 2023 that reflects our results of our operations as if the acquisition of Carlstar had been completed on January 1, 2023. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2023, nor is it indicative of the future consolidated results of operations or financial position of the combined companies (amounts in thousands, except per share data). Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Pro forma revenues $ 447,985 $ 547,410 $ 1,564,182 $ 1,916,526 Pro forma net (loss) income (17,399) 24,731 18,798 89,786 Net (loss) income per common share, basic $ (0.24) $ 0.33 $ 0.26 $ 1.20 Net (loss) income per common share, diluted (0.24) 0.33 0.26 1.19

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following (amounts in thousands): September 30, December 31, Accounts receivable $ 276,954 $ 224,485 Allowance for credit losses (4,117) (5,340) Accounts receivable, net $ 272,837 $ 219,145
Schedule of Allowance for Credit Loss	Changes in the allowance for credit losses during the nine months ended September 30, 2024 and 2023, respectively, consisted of the following (amounts in thousands): 2024 2023 Balance at January 1, $ 5,340 $ 6,170 Provision charged to expense 141 — Write-offs of accounts receivable (1,364) (517) Balance at September 30, $ 4,117 $ 5,653

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following (amounts in thousands): September 30, December 31, Raw material $ 109,236 $ 108,504 Work-in-process 48,808 39,921 Finished goods 295,588 216,731 $ 453,632 $ 365,156

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following (amounts in thousands): September 30, December 31, Land and improvements $ 45,570 $ 42,140 Buildings and improvements 267,847 243,241 Machinery and equipment 706,982 628,975 Tools, dies and molds 127,158 116,328 Construction-in-process 54,511 29,744 1,202,068 1,060,428 Less accumulated depreciation (761,770) (738,734) $ 440,298 $ 321,694

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	The components of intangible assets, net consisted of the following (amounts in thousands): Weighted- Average Useful Lives (in Years) September 30, December 31, Amortizable intangible assets: Customer lists/relationships 13.50 $ 6,500 $ — Trade names 10.00 5,500 — Other intangibles 15.87 3,384 3,384 Total at cost 15,384 3,384 Less accumulated amortization (2,348) (1,953) $ 13,036 $ 1,431
Schedule of Aggregate Amortization Expense	The estimated aggregate amortization expense at September 30, 2024, for each of the years (or other periods) set forth below was as follows (amounts in thousands): October 1 - December 31, 2024 $ 691 2025 1,249 2026 1,190 2027 1,154 2028 1,154 Thereafter 7,598 $ 13,036

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities, Current [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (amounts in thousands): September 30, December 31, Compensation and benefits $ 59,551 $ 47,543 Warranty 13,240 11,848 Accrued insurance benefits 20,898 19,162 Customer rebates and deposits 16,225 15,490 Accrued other taxes 14,200 13,762 Accrued interest 13,245 4,955 Foreign government grant (1) 3,867 4,509 Other 27,671 22,109 $ 168,897 $ 139,378 (1) The Company received government subsidies in 2023 associated with capital expenditure investments in technological and digital innovation in Europe. The amount of the government subsidies is used to offset existing payables to governmental entities 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 its 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)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in the warranty liability during the nine months ended September 30, 2024 and 2023, respectively, consisted of the following (amounts in thousands): 2024 2023 Warranty liability at beginning of the period $ 21,710 $ 19,914 Provision for warranty liabilities 11,689 10,334 Warranty payments made (11,854) (9,578) Other adjustments, including acquisition of Carlstar 1,784 — Warranty liability at end of the period $ 23,329 $ 20,670

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following (amounts in thousands): September 30, 2024 Principal Balance Unamortized Debt Issuance Net Carrying Amount 7.00% senior secured notes due 2028 $ 400,000 $ (3,067) $ 396,933 Revolving credit facility 97,000 — 97,000 Titan Europe credit facilities 17,528 — 17,528 Other debt 6,993 — 6,993 Total debt 521,521 (3,067) 518,454 Less amounts due within one year 15,025 — 15,025 Total long-term debt $ 506,496 $ (3,067) $ 503,429 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
Schedule of Maturities of Long-term Debt	Aggregate principal maturities of long-term debt at September 30, 2024 for each of the years (or other periods) set forth below were as follows (amounts in thousands): October 1 - December 31, 2024 $ 9,028 2025 8,603 2026 4,683 2027 485 2028 496,389 Thereafter 2,333 $ 521,521

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows (amounts in thousands): Balance Sheet Classification September 30, December 31, Operating lease ROU assets Operating lease assets $ 120,330 $ 11,955 Operating lease current liabilities Operating leases current liabilities $ 13,077 $ 5,021 Operating lease long-term liabilities Operating leases long-term liabilities 109,187 6,153 Total operating lease liabilities $ 122,264 $ 11,174 Finance lease, gross Property, plant & equipment, net $ 6,809 $ 5,175 Finance lease accumulated depreciation Property, plant & equipment, net (4,797) (3,489) Finance lease, net $ 2,012 $ 1,686 Finance lease current liabilities Other current liabilities $ 1,180 $ 1,093 Finance lease long-term liabilities Other long-term liabilities 1,428 1,321 Total finance lease liabilities $ 2,608 $ 2,414
Schedule of Maturities of Operating Lease Liabilities	At September 30, 2024, maturities of lease liabilities were as follows (amounts in thousands): Operating Finance October 1 - December 31, 2024 $ 5,606 $ 403 2025 19,111 1,057 2026 17,942 805 2027 15,215 389 2028 13,452 195 Thereafter 129,007 16 Total lease payments $ 200,333 $ 2,865 Less imputed interest 78,069 257 $ 122,264 $ 2,608 Weighted average remaining lease term (in years) 13.53 2.66
Schedule of Maturities of Finance Lease Liabilities	At September 30, 2024, maturities of lease liabilities were as follows (amounts in thousands): Operating Finance October 1 - December 31, 2024 $ 5,606 $ 403 2025 19,111 1,057 2026 17,942 805 2027 15,215 389 2028 13,452 195 Thereafter 129,007 16 Total lease payments $ 200,333 $ 2,865 Less imputed interest 78,069 257 $ 122,264 $ 2,608 Weighted average remaining lease term (in years) 13.53 2.66

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Pension Cost	The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Service cost $ 89 $ 112 $ 455 $ 331 Interest cost 917 1,022 2,820 3,097 Expected return on assets (1,299) (1,167) (3,901) (3,501) Amortization of unrecognized prior service cost (14) (16) (44) (49) Amortization of net unrecognized loss 68 241 204 719 Net periodic pension (benefit) cost $ (239) $ 192 $ (466) $ 597

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Variable Interest Entity, Measure of Activity [Abstract]
Schedule of Variable Interest Entities	The following table summarizes the carrying amount of the VIE's assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets (amounts in thousands): September 30, December 31, Cash and cash equivalents $ — $ 355 Inventory — 1,431 Other current assets — 2,364 Property, plant and equipment, net — 2,477 Other non-current assets — 222 Total assets $ — $ 6,849 Current liabilities $ — $ 1,117 Other long-term liabilities — 869 Total liabilities $ — $ 1,986 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.
Schedule of Non Consolidated Variable Interest Entities	The assets and liabilities recognized in Titan's Condensed 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 as of the dates set forth below were as follows (amounts in thousands): September 30, December 31, Investments $ 8,030 $ 7,127 Total VIE assets 8,030 7,127 Accounts payable to the non-consolidated VIEs 3,540 3,578 Maximum exposure to loss $ 11,570 $ 10,705

OTHER INCOME (Tables)

OTHER INCOME (Tables)	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income	Other income consisted of the following (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Income on indirect taxes (1) $ — $ — $ — $ 475 Gain on property insurance settlement (2) 520 — 2,433 — Loss on sale of investment (3) (1,032) — (1,032) — Equity investment income 165 222 733 954 Gain on sale of assets 19 87 407 158 Other income 703 152 1,516 822 $ 375 $ 461 $ 4,057 $ 2,409 (1) In May 2022, the Brazilian tax authorities approved indirect tax credits to be applied against future tax obligations. For the nine months ended September 30, 2023, the Company recorded indirect tax credits of $0.5 million within other income. (2) The gain on property insurance settlement relates to the receipt of insurance proceeds of $3.5 million offset by costs to repair one of the Company's operating facilities in Italy related to a 2023 hail storm weather event. During the three months ended September 30, 2024, the Company also received insurance proceeds of $0.5 million associated with certain equipment at our North American wheel facility. (3) In September 2024, the Company sold its remaining ownership interest in an Indian undercarriage business and incurred a loss of $1.0 million as a result of the sale. The sale agreement includes a commitment to purchase approximately $1.7 million of products from the Indian undercarriage business over a two year period.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	(Loss) earnings per share (EPS) were as follows (amounts in thousands, except per share data): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net (loss) income attributable to Titan and applicable to common shareholders $ (18,249) $ 19,280 $ (6,899) $ 81,325 Determination of shares: Weighted average shares outstanding (basic) 72,013 62,598 69,900 62,810 Effect of restricted stock and stock options — 497 — 461 Weighted average shares outstanding (diluted) 72,013 63,095 69,900 63,271 (Loss) earnings per common share: Basic $ (0.25) $ 0.31 $ (0.10) $ 1.29 Diluted $ (0.25) $ 0.31 $ (0.10) $ 1.29

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The table below presents information about certain operating results, separated by market segments, for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Three months ended Nine months ended September 30, September 30, 2024 2023 2024 2023 Net sales Agricultural $ 175,439 $ 212,967 $ 631,442 $ 787,973 Earthmoving/construction 136,313 155,045 467,085 528,652 Consumer 136,233 33,769 363,837 114,976 $ 447,985 $ 401,781 $ 1,462,364 $ 1,431,601 Gross profit Agricultural $ 16,720 $ 37,026 $ 89,642 $ 135,012 Earthmoving/construction 11,653 22,257 55,929 88,583 Consumer 30,432 6,790 71,046 23,930 $ 58,805 $ 66,073 $ 216,617 $ 247,525 Income from operations Agricultural $ 1,910 $ 21,383 $ 41,692 $ 86,071 Earthmoving/construction (1,911) 8,501 13,970 46,561 Consumer 11,282 4,526 22,844 17,183 Corporate & Unallocated (8,474) (7,435) (28,305) (21,806) Income from operations $ 2,807 $ 26,975 $ 50,201 $ 128,009 Interest expense (9,005) (7,229) (27,103) (22,446) Interest income 3,064 3,298 8,483 6,261 Foreign exchange (loss) gain (2,525) 876 (2,338) (882) Other income, net 375 461 4,057 2,409 (Loss) income before income taxes $ (5,284) $ 24,381 $ 33,300 $ 113,351
Schedule of Reconciliation of Assets from Segment to Consolidated	Assets by segment were as follows as of the dates set forth below (amounts in thousands): September 30, December 31, Total assets Agricultural $ 612,320 $ 559,607 Earthmoving/construction 493,508 497,508 Consumer 541,764 155,602 Corporate & Unallocated 39,132 76,528 $ 1,686,724 $ 1,289,245
Schedule of Reconciliation of Revenue from Segments to Consolidated	The table below presents net sales by products and reportable segments for the three and nine months ended September 30, 2024 and 2023 (amounts in thousands): Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Three months ended September 30, 2024 Wheels and Tires [including assemblies] $ 165,017 $ 45,424 $ 130,691 $ 341,132 Undercarriage systems and components 10,422 90,889 5,542 106,853 Total $ 175,439 $ 136,313 $ 136,233 $ 447,985 Nine months ended September 30, 2024 Wheels and Tires [including assemblies] $ 599,760 $ 171,021 $ 344,275 $ 1,115,056 Undercarriage systems and components 31,682 296,064 19,562 347,308 Total $ 631,442 $ 467,085 $ 363,837 $ 1,462,364 Agricultural Segment Earthmoving/Construction Segment Consumer Segment Total Three months ended September 30, 2023 Wheels and Tires [including assemblies] $ 200,860 $ 58,846 $ 29,286 $ 288,992 Undercarriage systems and components 12,107 96,199 4,483 112,789 Total $ 212,967 $ 155,045 $ 33,769 $ 401,781 Nine months ended September 30, 2023 Wheels and Tires [including assemblies] $ 753,757 $ 204,063 $ 97,707 $ 1,055,527 Undercarriage systems and components 34,216 324,589 17,269 376,074 Total $ 787,973 $ 528,652 $ 114,976 $ 1,431,601

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive (Loss) Income	Accumulated other comprehensive loss consisted of the following (amounts in thousands): Currency Gain (Loss) on Unrecognized Total Balance at July 1, 2024 $ (250,063) $ 668 $ (2,341) $ (251,736) Currency translation adjustments, net 12,893 — — 12,893 Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(15) — — 29 29 Derivative loss — (139) — (139) Balance at September 30, 2024 $ (237,170) $ 529 $ (2,312) $ (238,953) Currency Gain (Loss) on Unrecognized Total Balance at January 1, 2024 $ (217,455) $ 740 $ (2,328) $ (219,043) Currency translation adjustments, net (19,715) — — (19,715) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $26 — — 16 16 Derivative loss — (211) — (211) Balance at September 30, 2024 $ (237,170) $ 529 $ (2,312) $ (238,953) Currency Gain (Loss) on Unrecognized Total Balance at July 1, 2023 $ (233,461) $ 1,074 $ (9,174) $ (241,561) Currency translation adjustments, net (25,420) — — (25,420) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(21) — — 80 80 Derivative loss — (82) — (82) Balance at September 30, 2023 $ (258,881) $ 992 $ (9,094) $ (266,983) Currency Gain (Loss) on Unrecognized Total Balance at January 1, 2023 $ (243,712) $ 1,224 $ (9,267) $ (251,755) Currency translation adjustments, net (15,169) — — (15,169) Defined benefit pension plans: Amortization of unrecognized losses and prior service cost, net of tax of $(51) — — 173 173 Derivative loss — (232) — (232) Balance at September 30, 2023 $ (258,881) $ 992 $ (9,094) $ (266,983)

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands		1 Months Ended		3 Months Ended						9 Months Ended		12 Months Ended
	Dec. 16, 2022 USD ($)	Mar. 31, 2022	Jul. 31, 2018	Sep. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023	Dec. 31, 2023 USD ($) shares	Apr. 22, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Investments in marketable equity securities				$ 12,600						$ 12,600
Debt instrument interest rate stated percentage (in percent)				7%						7%		7%	7%
Aggregate principal amount				$ 521,521						$ 521,521
Net monetary loss				$ 800						$ 2,500
Consolidated assets (in percent)				5%						5%		7%
Consolidated sales (in percent)				4%			5%			4%	6%
Stock repurchase program, authorized amount	$ 50,000
Stock repurchased (in shares) | shares				1,050,000						1,925,000		2,653,786
Stock repurchase amount				$ 8,344	$ 6,360	$ 1,402	$ 12,674	$ 5,097	$ 1,293	$ 16,100		$ 32,600
Stock repurchase program, remaining authorized repurchase amount				1,300						1,300
Supplier finance program obligation				$ 8,500						$ 8,500		7,400
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock repurchase program, period in force (in years)	3 years
Voltyre-Prom
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage by parent (in percent)				64.30%						64.30%
ARGENTINA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative period for rate of inflation (in years)			3 years
Percentage of Inflation			1
TÜRKIYE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative period for rate of inflation (in years)		3 years
Percentage of Inflation		1
7.00% senior secured notes due 2028
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument interest rate stated percentage (in percent)				7%						7%
Aggregate principal amount				$ 396,933						$ 396,933		$ 396,277
Fair value of the senior secured notes				$ 395,800						$ 395,800

BUSINESS COMBINATION - Narrativ

BUSINESS COMBINATION - Narrative (Details) $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 29, 2024 facility country	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total acquisition-related costs		$ 0	$ 0	$ 6,196	$ 0
The Carlstar Group, LLC
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Number of facilities | facility	17
Number of countries facilities are located | country	4
The Carlstar Group, LLC
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Percentage of equity interests (in percent)	100%
Total acquisition-related costs		$ 0		$ 6,200

BUSINESS COMBINATION - Working

BUSINESS COMBINATION - Working Capital Adjustment (Details) - The Carlstar Group, LLC $ in Thousands	Feb. 29, 2024 USD ($)
Business Acquisition [Line Items]
Titan International, Inc. common stock	$ 168,693
Base cash consideration, net of cash acquired of $10,288	127,500
Business combination, price of acquisition, expected	296,193
Additional cash consideration for excess net working capital acquired	19,759
Other debt-like items	(3,616)
Total purchase consideration, net of cash acquired	312,336
Cash Acquired from Acquisition	$ 10,288
Weighted Average Amortization (in Years)	11 years 10 months 24 days
Trade names
Business Acquisition [Line Items]
Weighted Average Amortization (in Years)	13 years 6 months

BUSINESS COMBINATION - Goodwill

BUSINESS COMBINATION - Goodwill by Operating Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Business Combination Segment Allocation [Line Items]
Goodwill	$ 35,810	$ 0
Operating Segments
Business Combination Segment Allocation [Line Items]
Goodwill	35,810
Operating Segments | Agricultural
Business Combination Segment Allocation [Line Items]
Goodwill	5,478
Operating Segments | Earthmoving/construction
Business Combination Segment Allocation [Line Items]
Goodwill	0
Operating Segments | Consumer
Business Combination Segment Allocation [Line Items]
Goodwill	$ 30,332

BUSINESS COMBINATION - Assets a

BUSINESS COMBINATION - Assets and Liabilities of Purchase Price Consideration (Details) - USD ($) $ in Thousands		7 Months Ended
	Feb. 29, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 35,810	$ 0
The Carlstar Group, LLC
Business Acquisition [Line Items]
Accounts receivable	$ 92,043
Inventories	150,900
Prepaid and other current assets	13,339
Property, plant, and equipment	111,580
Other long-term assets	94,304
Goodwill	35,810
Intangible assets	12,000
Fair value of assets acquired	509,976
Accounts payable	66,055
Other current liabilities	26,377
Operating leases	95,476
Deferred tax liabilities	8,459
Other long-term liabilities	1,273
Fair value of liabilities assumed	197,640
Purchase Price	312,336
Measurement Period Changes
Accounts receivable		(6,396)
Inventories		4,912
Property, plant, and equipment		(16,582)
Other long-term assets		(1,899)
Goodwill		22,943
Intangible assets		(3,770)
Fair value of assets acquired		(792)
Deferred tax liabilities		(1,992)
Other long-term liabilities		(236)
Fair value of liabilities assumed		(2,228)
Purchase Price		$ 1,436
The Carlstar Group, LLC | Previously Reported
Business Acquisition [Line Items]
Accounts receivable	98,439
Inventories	145,988
Prepaid and other current assets	13,339
Property, plant, and equipment	128,162
Other long-term assets	96,203
Goodwill	12,867
Intangible assets	15,770
Fair value of assets acquired	510,768
Accounts payable	66,055
Other current liabilities	26,377
Operating leases	95,476
Deferred tax liabilities	10,451
Other long-term liabilities	1,509
Fair value of liabilities assumed	199,868
Purchase Price	$ 310,900

BUSINESS COMBINATION - Carrying

BUSINESS COMBINATION - Carrying Amounts and Weighted Average Lives of the Acquired Intangible Assets (Details) - The Carlstar Group, LLC $ in Thousands	Feb. 29, 2024 USD ($)
Business Acquisition [Line Items]
Carrying Value	$ 12,000
Weighted Average Amortization (in Years)	11 years 10 months 24 days
Customer lists/relationships
Business Acquisition [Line Items]
Carrying Value	$ 6,500
Weighted Average Amortization (in Years)	10 years
Trade names
Business Acquisition [Line Items]
Carrying Value	$ 5,500
Weighted Average Amortization (in Years)	13 years 6 months

BUSINESS COMBINATION - Actual R

BUSINESS COMBINATION - Actual Revenue and Net Income (Details) - The Carlstar Group, LLC $ in Thousands	7 Months Ended
	Sep. 30, 2024 USD ($)
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Carlstar revenue	$ 316,496
Carlstar income before taxes	$ 22,069

BUSINESS COMBINATION - Proforma

BUSINESS COMBINATION - Proforma Financial Information (Details) - The Carlstar Group, LLC - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenues	$ 447,985	$ 547,410	$ 1,564,182	$ 1,916,526
Pro forma net (loss) income	$ (17,399)	$ 24,731	$ 18,798	$ 89,786
Net income per common share, basic (in dollars per share)	$ (0.24)	$ 0.33	$ 0.26	$ 1.20
Net income per common share, diluted (in dollars per share)	$ (0.24)	$ 0.33	$ 0.26	$ 1.19

ACCOUNTS RECEIVABLE, NET - Acco

ACCOUNTS RECEIVABLE, NET - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 276,954	$ 224,485
Allowance for credit losses	(4,117)	(5,340)	$ (5,653)	$ (6,170)
Accounts receivable, net	$ 272,837	$ 219,145

ACCOUNTS RECEIVABLE, NET - Allo

ACCOUNTS RECEIVABLE, NET - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1,	$ 5,340	$ 6,170
Provision charged to expense	141	0
Write-offs of accounts receivable	(1,364)	(517)
Balance at September 30,	$ 4,117	$ 5,653

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw material	$ 109,236	$ 108,504
Work-in-process	48,808	39,921
Finished goods	295,588	216,731
Total inventory	$ 453,632	$ 365,156

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,202,068		$ 1,202,068		$ 1,060,428
Less accumulated depreciation	(761,770)		(761,770)		(738,734)
Property, plant and equipment, net	440,298		440,298		321,694
Depreciation	12,700	$ 9,600	38,600	$ 30,400
Land and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	45,570		45,570		42,140
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	267,847		267,847		243,241
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	706,982		706,982		628,975
Tools, dies and molds
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	127,158		127,158		116,328
Construction-in-process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 54,511		$ 54,511		$ 29,744

INTANGIBLE ASSETS, NET - Amorti

INTANGIBLE ASSETS, NET - Amortizable Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, customer lists/relationships	$ 6,500		$ 6,500		$ 0
Amortizable intangible assets, trade names	5,500		5,500		0
Amortizable intangible assets, other intangibles	3,384		3,384		3,384
Total at cost	15,384		15,384		3,384
Less accumulated amortization	(2,348)		(2,348)		(1,953)
Total	13,036		13,036		$ 1,431
Amortization related to intangible assets	$ (300)
Amortization related to intangible assets		$ 200	$ 800	$ 500
Customer lists/relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (in Years)	13 years 6 months		13 years 6 months
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (in Years)	10 years		10 years
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Lives (in Years)	15 years 10 months 13 days		15 years 10 months 13 days

INTANGIBLE ASSETS, NET - Aggreg

INTANGIBLE ASSETS, NET - Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
October 1 - December 31, 2024	$ 691
2025	1,249
2026	1,190
2027	1,154
2028	1,154
Thereafter	7,598
Total	$ 13,036	$ 1,431

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2014	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities, Current [Abstract]
Compensation and benefits		$ 59,551	$ 47,543
Warranty		13,240	11,848
Accrued insurance benefits		20,898	19,162
Customer rebates and deposits		16,225	15,490
Accrued other taxes		14,200	13,762
Accrued interest		13,245	4,955
Foreign government grant		3,867	4,509
Other		27,671	22,109
Total		$ 168,897	$ 139,378
Capital grant from the Italian government	$ 17,000

WARRANTY - Product Warranty Lia

WARRANTY - Product Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Product Warranty Liability [Roll Forward]
Warranty liability at beginning of the period	$ 21,710	$ 19,914
Provision for warranty liabilities	11,689	10,334
Warranty payments made	(11,854)	(9,578)
Other adjustments, including acquisition of Carlstar	1,784	0
Warranty liability at end of the period	$ 23,329	$ 20,670

WARRANTY - Narrative (Details)

WARRANTY - Narrative (Details)	Sep. 30, 2024
Minimum
Product Warranty Liability [Line Items]
Warranty term (in years)	1 year
Maximum
Product Warranty Liability [Line Items]
Warranty term (in years)	10 years

DEBT - Long-term Debt Instrumen

DEBT - Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Apr. 22, 2021
Debt Instrument [Line Items]
Revolving credit facility	$ 97,000
Less amounts due within one year	15,025	$ 16,913
Debt instrument, unamortized discount	(3,067)	(3,723)
Debt instrument, unamortized discount, current	0	0
Debt instrument, unamortized discount (premium), net	(3,067)	(3,723)
Long-term debt	521,521
Total debt	518,454	426,091
Total long-term debt	$ 503,429	$ 409,178
Debt instrument interest rate stated percentage (in percent)	7%	7%	7%
Long-term Debt
Debt Instrument [Line Items]
Total debt	$ 521,521	$ 429,814
Long-Term Debt, Gross	506,496	412,901
7.00% senior secured notes due 2028
Debt Instrument [Line Items]
7.00% senior secured notes due 2028	400,000	400,000	$ 400,000
Debt instrument, unamortized discount	(3,067)	(3,723)
Long-term debt	$ 396,933	396,277
Debt instrument interest rate stated percentage (in percent)	7%
Line of Credit
Debt Instrument [Line Items]
Revolving credit facility	$ 97,000
Debt instrument, unamortized discount	0
Titan Europe credit facilities
Debt Instrument [Line Items]
Titan Europe credit facilities	17,528	22,568
Debt instrument, unamortized discount, noncurrent	0	0
Other debt
Debt Instrument [Line Items]
Other debt	6,993	7,246
Debt instrument, unamortized discount, noncurrent	$ 0	$ 0

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended
	Feb. 29, 2024	Sep. 30, 2024	Feb. 28, 2024	Dec. 31, 2023	Apr. 22, 2021
Debt Instrument [Line Items]
Weighted-average interest rates on short-term borrowings (in percent)		4%		3.10%
Debt instrument interest rate stated percentage (in percent)		7%		7%	7%
Debt instrument, interest rate, effective percentage (in percent)					7.27%
Debt instrument term (in years)	5 years
Line of credit facility	$ 225,000	$ 191,000
Bridge loan	20,000
Letters of Credit, Maximum Capacity	50,000
Line of credit facility maximum expansion	$ 50,000
Line of credit facility, interest rate (in percent)		6.93%
Outstanding letters of credit		$ 9,900
Revolving credit facility		97,000
Borrowing under the new credit facility		84,100
BMO Harris Bank N.A.
Debt Instrument [Line Items]
Line of credit facility			$ 125,000
Line of credit facility maximum expansion			$ 50,000
7.00% senior secured notes due 2028
Debt Instrument [Line Items]
Aggregate principal amount		$ 400,000		$ 400,000	$ 400,000
Debt instrument interest rate stated percentage (in percent)		7%
Debt instrument term (in years)	91 days
Titan Europe credit facilities
Debt Instrument [Line Items]
Other borrowings		$ 17,528		22,568
Titan Europe credit facilities | Minimum
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage (in percent)		0.50%
Debt instrument term (in years)		1 year
Titan Europe credit facilities | Maximum
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage (in percent)		6.50%
Debt instrument term (in years)		5 years
Other debt
Debt Instrument [Line Items]
Other debt		$ 6,993		$ 7,246
Other debt | Minimum
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage (in percent)		6.90%
Debt instrument term (in years)		1 year
Other debt | Maximum
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage (in percent)		7.60%
Debt instrument term (in years)		2 years
Titan Brazil
Debt Instrument [Line Items]
Other debt		$ 7,000

DEBT - Maturities of Long-term

DEBT - Maturities of Long-term Debt (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
October 1 - December 31, 2024	$ 9,028
2025	8,603
2026	4,683
2027	485
2028	496,389
Thereafter	2,333
Long-term debt	$ 521,521

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Apr. 22, 2021
Leases [Abstract]
Debt instrument, interest rate, effective percentage (in percent)		7.27%
Operating cash flows from operating leases	$ 5.5

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease ROU assets	$ 120,330	$ 11,955
Operating lease current liabilities	13,077	5,021
Operating lease long-term liabilities	109,187	6,153
Total operating lease liabilities	122,264	11,174
Finance lease, gross	6,809	5,175
Finance lease accumulated depreciation	(4,797)	(3,489)
Finance lease, net	2,012	1,686
Finance lease current liabilities	1,180	1,093
Finance lease long-term liabilities	1,428	1,321
Total finance lease liabilities	$ 2,608	$ 2,414

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
October 1 - December 31, 2024	$ 5,606
2025	19,111
2026	17,942
2027	15,215
2028	13,452
Thereafter	129,007
Total lease payments	200,333
Less imputed interest	78,069
Operating lease liability	122,264	$ 11,174
Finance Leases
October 1 - December 31, 2024	403
2025	1,057
2026	805
2027	389
2028	195
Thereafter	16
Total lease payments	2,865
Less imputed interest	257
Finance lease liability	$ 2,608	$ 2,414
Operating lease, weighted average remaining lease term (in years)	13 years 6 months 10 days
Finance lease, weighted average remaining lease term (in years)	2 years 7 months 28 days

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) plan
Retirement Benefits [Abstract]
Number of frozen plans | plan	3
Number of subsidiaries with frozen plans | plan	3
Contributions by employer | $	$ 0.7
Estimated future employer contributions | $	$ 0.1

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Components of Net Periodic Pension Cost (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 89	$ 112	$ 455	$ 331
Interest cost	917	1,022	2,820	3,097
Expected return on assets	(1,299)	(1,167)	(3,901)	(3,501)
Amortization of unrecognized prior service cost	(14)	(16)	(44)	(49)
Amortization of net unrecognized loss	68	241	204	719
Net periodic pension (benefit) cost	$ (239)	$ 192	$ (466)	$ 597

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 jointVenture
Variable Interest Entity, Measure of Activity [Abstract]
Number of joint ventures	1
VIE ownership percentage (in percent)	50%

VARIABLE INTEREST ENTITIES - Va

VARIABLE INTEREST ENTITIES - Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 227,293	$ 220,251
Inventory	453,632	365,156
Property, plant and equipment, net	440,298	321,694
Total assets	1,686,724	1,289,245
Current liabilities	431,301	362,513
Other long-term liabilities	42,229	41,752
Total liabilities	1,088,670	821,830
Consolidated VIEs
Variable Interest Entity [Line Items]
Cash and cash equivalents	0	355
Inventory	0	1,431
Other current assets	0	2,364
Property, plant and equipment, net	0	2,477
Other non-current assets	0	222
Total assets	0	6,849
Current liabilities	0	1,117
Other long-term liabilities	0	869
Total liabilities	$ 0	$ 1,986

VARIABLE INTEREST ENTITIES - No

VARIABLE INTEREST ENTITIES - Non Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Total assets	$ 1,686,724	$ 1,289,245
Accounts payable to the non-consolidated VIEs	234,302	201,201
Non-Consolidated VIEs
Variable Interest Entity [Line Items]
Investments	8,030	7,127
Total assets	8,030	7,127
Accounts payable to the non-consolidated VIEs	3,540	3,578
Maximum exposure to loss	$ 11,570	$ 10,705

ROYALTY EXPENSE (Details)

ROYALTY EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Royalty expenses	$ 2,266	$ 2,344	$ 7,613	$ 7,200

OTHER INCOME (Details)

OTHER INCOME (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Income on indirect taxes		$ 0	$ 0	$ 0	$ 475
Gain on property insurance settlement		520	0	2,433	0
Sale of investment		(1,032)	0	(1,032)	0
Equity investment income		165	222	733	954
Gain on sale of assets		19	87	407	158
Other income		703	152	1,516	822
Total other income		375	$ 461	4,057	2,409
Indirect tax credits					$ 500
Insurance proceeds		$ (500)		$ (3,500)
Sale of investment	$ 1,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 12,915	$ 4,718	$ 38,103	$ 28,363
Effective income tax rate (in percent)	(244.40%)	19.40%	114.40%	25%
Profit and loss positions (in years)			3 years

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net (loss) income attributable to Titan and applicable to common shareholders	$ (18,249)	$ 19,280	$ (6,899)	$ 81,325
Weighted average shares outstanding (basic) (in shares)	72,013	62,598	69,900	62,810
Effect of restricted stock and stock options (in shares)	400	497	500	461
Weighted average shares outstanding (diluted) (in shares)	72,013	63,095	69,900	63,271
Earnings per common share, basic (in dollars per share)	$ (0.25)	$ 0.31	$ (0.10)	$ 1.29
Earnings per common share, diluted (in dollars per share)	$ (0.25)	$ 0.31	$ (0.10)	$ 1.29

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT INFORMATION - Segment R

SEGMENT INFORMATION - Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 447,985	$ 401,781	$ 1,462,364	$ 1,431,601
Gross profit	58,805	66,073	216,617	247,525
Income (loss) from operations	2,807	26,975	50,201	128,009
Interest expense	(9,005)	(7,229)	(27,103)	(22,446)
Interest income	3,064	3,298	8,483	6,261
Foreign exchange (loss) gain	(2,525)	876	(2,338)	(882)
Other income, net	375	461	4,057	2,409
(Loss) income before income taxes	(5,284)	24,381	33,300	113,351
Operating Segments
Segment Reporting Information [Line Items]
Net sales	447,985	401,781	1,462,364	1,431,601
Gross profit	58,805	66,073	216,617	247,525
Income (loss) from operations	2,807	26,975	50,201	128,009
Operating Segments | Agricultural
Segment Reporting Information [Line Items]
Net sales	175,439	212,967	631,442	787,973
Gross profit	16,720	37,026	89,642	135,012
Income (loss) from operations	1,910	21,383	41,692	86,071
Operating Segments | Earthmoving/construction
Segment Reporting Information [Line Items]
Net sales	136,313	155,045	467,085	528,652
Gross profit	11,653	22,257	55,929	88,583
Income (loss) from operations	(1,911)	8,501	13,970	46,561
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Net sales	136,233	33,769	363,837	114,976
Gross profit	30,432	6,790	71,046	23,930
Income (loss) from operations	11,282	4,526	22,844	17,183
Operating Segments | Corporate & Unallocated
Segment Reporting Information [Line Items]
Income (loss) from operations	$ (8,474)	$ (7,435)	$ (28,305)	$ (21,806)

SEGMENT INFORMATION - Assets fr

SEGMENT INFORMATION - Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Assets	$ 1,686,724	$ 1,289,245
Operating Segments | Agricultural
Segment Reporting Information [Line Items]
Assets	612,320	559,607
Operating Segments | Earthmoving/construction
Segment Reporting Information [Line Items]
Assets	493,508	497,508
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Assets	541,764	155,602
Operating Segments | Corporate & Unallocated
Segment Reporting Information [Line Items]
Assets	$ 39,132	$ 76,528

SEGMENT INFORMATION - Revenue f

SEGMENT INFORMATION - Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 447,985	$ 401,781	$ 1,462,364	$ 1,431,601
Operating Segments
Segment Reporting Information [Line Items]
Net sales	447,985	401,781	1,462,364	1,431,601
Operating Segments | Wheels and Tires [including assemblies]
Segment Reporting Information [Line Items]
Net sales	341,132	288,992	1,115,056	1,055,527
Operating Segments | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales	106,853	112,789	347,308	376,074
Operating Segments | Agricultural
Segment Reporting Information [Line Items]
Net sales	175,439	212,967	631,442	787,973
Operating Segments | Agricultural | Wheels and Tires [including assemblies]
Segment Reporting Information [Line Items]
Net sales	165,017	200,860	599,760	753,757
Operating Segments | Agricultural | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales	10,422	12,107	31,682	34,216
Operating Segments | Earthmoving/construction
Segment Reporting Information [Line Items]
Net sales	136,313	155,045	467,085	528,652
Operating Segments | Earthmoving/construction | Wheels and Tires [including assemblies]
Segment Reporting Information [Line Items]
Net sales	45,424	58,846	171,021	204,063
Operating Segments | Earthmoving/construction | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales	90,889	96,199	296,064	324,589
Operating Segments | Consumer
Segment Reporting Information [Line Items]
Net sales	136,233	33,769	363,837	114,976
Operating Segments | Consumer | Wheels and Tires [including assemblies]
Segment Reporting Information [Line Items]
Net sales	130,691	29,286	344,275	97,707
Operating Segments | Consumer | Undercarriage systems and components
Segment Reporting Information [Line Items]
Net sales	$ 5,542	$ 4,483	$ 19,562	$ 17,269

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Currency Translation Adjustments	$ (237,170)	$ (258,881)	$ (237,170)	$ (258,881)	$ (250,063)	$ (217,455)	$ (233,461)	$ (243,712)
Currency translation adjustments, net	12,893	(25,420)	(19,715)	(15,169)
Gain (Loss) on Derivatives	529	992	529	992	668	740	1,074	1,224
Derivative loss	(139)	(82)	(211)	(232)
Unrecognized Losses and Prior Service Cost	(2,312)	(9,094)	(2,312)	(9,094)	(2,341)	(2,328)	(9,174)	(9,267)
Amortization of unrecognized losses and prior service cost, net of tax	29	80	16	173
Accumulated other comprehensive loss	(238,953)	(266,983)	(238,953)	(266,983)	$ (251,736)	$ (219,043)	$ (241,561)	$ (251,755)
Amortization of unrecognized losses and prior service cost, tax	$ (15)	$ (21)	$ 26	$ (51)

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended						9 Months Ended		12 Months Ended
	Oct. 18, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Oct. 17, 2024
Subsequent Event [Line Items]
Treasury stock (in shares)		7,263,007						7,263,007		5,809,414
Common stock, par value (in dollars per share)		$ 0.0001						$ 0.0001		$ 0.0001
Stock repurchase amount		$ 8,344	$ 6,360	$ 1,402	$ 12,674	$ 5,097	$ 1,293	$ 16,100		$ 32,600
Cash consideration								16,106	$ 19,064
Borrowing under the new credit facility		$ 84,100						$ 84,100
Subsequent Event [Member]
Subsequent Event [Line Items]
Treasury stock (in shares)	8,005,000
Common stock, par value (in dollars per share)	$ 0.0001
Share Price	$ 7.20
Stock repurchase amount	$ 57,636
Cash consideration	12,600
Borrowings	45,000
Borrowing under the new credit facility	$ 39,000										$ 84,000