← TITAN INTERNATIONAL INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($34.0m) | ($60.0m) | $16.1m | ($48.4m) | ($60.4m) | $49.6m | $176.3m | $78.8m | ($5.6m) | ($63.5m) | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($43.5m) | ($66.4m) | $3.9m | ($50.4m) | ($60.4m) | $49.6m | — | — | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($36.1m) | ($64.1m) | $13.0m | ($51.5m) | ($65.1m) | $49.9m | $179.2m | $83.7m | ($3.6m) | ($61.2m) | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($2.1m) | ($4.0m) | ($3.0m) | ($3.1m) | ($4.7m) | $305k | $2.9m | $4.9m | $2.0m | $2.3m | |
| Depreciation, Depletion and Amortization | $59.8m | $58.4m | $57.6m | $54.4m | $54.7m | $48.0m | $42.7m | $42.4m | $60.7m | $67.1m | |
| Amortization of Intangible Assets | $2.2m | $3.0m | $2.3m | $2.2m | $2.3m | $600k | $400k | — | $1.5m | $1.4m | |
| Depreciation | $55.8m | $54.3m | $53.9m | $50.9m | $51.3m | $46.4m | $41.5m | $41.0m | $55.7m | $60.1m | |
| Deferred Income Tax Expense (Benefit) | ($680k) | $785k | ($2.3m) | ($2.3m) | ($3.0m) | ($14.2m) | ($23.4m) | ($2.1m) | ($6.4m) | $31.0m | |
| Share-based Payment Arrangement, Noncash Expense | $2.0m | $1.5m | $1.1m | $1.4m | $2.5m | $3.4m | $4.3m | $5.2m | $5.4m | $3.3m | |
| Share-based Payment Arrangement, Expense | $2.0m | $1.5m | $1.1m | $1.5m | $2.5m | $3.4m | $4.3m | $6.0m | $7.4m | $5.8m | |
| Goodwill, Impairment Loss | $0 | — | — | — | — | — | — | — | — | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | $6.0m | $6.0m | — | — | — | — | |
| Gain (Loss) on Disposition of Assets | $2.3m | ($701k) | — | — | — | — | — | — | $806k | $54k | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | ($10.9m) | $0 | $0 | — | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | — | $440k | $257k | $216k | $246k | — | — | |
| Gain (Loss) on Extinguishment of Debt | — | ($18.6m) | $0 | $0 | $8.7m | $0 | $0 | $0 | — | — | |
| Income (Loss) from Equity Method Investments | $0 | $3.6m | $4.0m | $2.4m | $720k | $806k | $859k | $1.2m | $1.0m | $1.2m | |
| Income Tax Expense (Benefit) | $3.3m | $11.2m | $6.8m | $3.5m | $6.9m | $1.1m | $23.2m | $26.0m | $11.9m | $49.9m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $36.4m | $38.7m | |
| Operating Lease, Expense | — | — | — | — | — | — | $5.1m | $5.6m | $24.5m | $27.2m | |
| Other Nonoperating Income (Expense) | $112k | ($1.1m) | $10.6m | ($393k) | $2.6m | ($727k) | $1.9m | $430k | $6.6m | $965k | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($4.0m) | $38.5m | $36.1m | ($56.8m) | $15.2m | $74.7m | $27.2m | ($42.9m) | ($73.8m) | $4.0m | |
| Increase (Decrease) in Inventories | ($4.4m) | $55.6m | $77.9m | ($63.7m) | ($37.7m) | $112.8m | $19.6m | ($31.6m) | ($51.5m) | $7.1m | |
| Increase (Decrease) in Accounts Payable | $21.0m | $37.6m | $29.4m | ($53.2m) | $11.9m | $121.2m | ($7.8m) | ($62.7m) | ($29.2m) | $11.3m | |
| Foreign Currency Transaction Gain (Loss), before Tax | $8.6m | ($2.0m) | ($11.2m) | $4.0m | ($11.0m) | $12.0m | $927k | ($22.8m) | ($6.1m) | ($5.0m) | |
| Gain (Loss) on Investments | — | — | — | $0 | $0 | — | — | — | — | — | |
| Gain (Loss) on Sale of Properties | — | — | — | — | $4.9m | $0 | $0 | — | — | — | |
| Gain (Loss) Related to Litigation Settlement | — | — | — | — | $8.6m | $1.8m | $0 | $0 | — | — | |
| Goodwill | — | — | — | — | — | — | — | — | $29.6m | $29.6m | |
| Insured Event, Gain (Loss) | — | — | — | — | — | — | — | — | $2.4m | $0 | |
| Inventory Write-down | $0 | — | — | — | $1.0m | — | — | — | — | — | |
| Investment Income, Interest | — | — | — | — | — | — | — | — | $11.0m | $10.7m | |
| Nonoperating Income (Expense) | $12.5m | $11.1m | $19.2m | $9.5m | $18.8m | $2.1m | $25.4m | $2.6m | — | — | |
| Payments of Financing Costs | $0 | — | — | — | — | — | — | — | — | — | |
| Pension Cost (Reversal of Cost) | $518k | $540k | $561k | $1.1m | $1.2m | $1.2m | $1.6m | $1.8m | $1.3m | $1.7m | |
| Proceeds from Stock Options Exercised | $13 | $0 | — | — | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | — | — | — | — | — | ($69k) | |
| Unrealized Gain (Loss) on Investments | $190k | $2.7m | $687k | $4.7m | $4.2m | $569k | $216k | $644k | $425k | $54k | |
| Derivative, Gain (Loss) on Derivative, Net | $1.0m | $600k | $500k | $900k | $400k | $400k | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $43.5m | ($1.3m) | ($36.2m) | $45.4m | $57.2m | $10.7m | $160.7m | $179.3m | $141.5m | $30.0m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $41.9m | $32.6m | $39.0m | $36.4m | $21.7m | $38.8m | $47.0m | $60.8m | $65.6m | $54.6m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | — | — | — | $143.6m | $0 | |
| Gain (Loss) on Sale of Investments | — | — | — | $4.7m | ($703k) | $0 | $0 | — | ($379k) | $0 | |
| Payments for (Proceeds from) Other Investing Activities | ($2.2m) | ($993k) | ($2.1m) | $3.5m | ($13.4m) | ($1.2m) | ($930k) | ($1.8m) | ($2.3m) | ($649k) | |
| Net Cash Provided by (Used in) Investing Activities | ($89.7m) | $18.4m | ($36.9m) | ($92.6m) | $33.2m | ($37.6m) | ($36.8m) | ($56.9m) | ($201.6m) | ($59.6m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $17.3m | $447.6m | $57.3m | $134.2m | $91.6m | $497.1m | $88.9m | $6.7m | $213.2m | $117.0m | |
| Payments for Repurchase of Common Stock | — | — | — | — | $0 | $0 | $25.0m | $32.6m | $74.0m | $0 | |
| Payments of Ordinary Dividends, Common Stock | $1.1m | $1.2m | $1.2m | $1.2m | $603k | $0 | $0 | — | — | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | ($3.2m) | ($1.0m) | ($511k) | ($2.5m) | ($1.2m) | $6k | |
| Net Cash Provided by (Used in) Financing Activities | ($6.4m) | ($24.1m) | $17.5m | $32.1m | ($38.6m) | $13.9m | ($61.3m) | ($56.0m) | $64.6m | $17.4m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $295k | $2.7m | ($6.3m) | $141k | ($1.3m) | ($6.4m) | ($1.1m) | ($5.7m) | ($28.7m) | $19.1m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $295k | $2.7m | ($6.3m) | $141k | ($1.3m) | ($6.4m) | $61.5m | $60.7m | ($24.3m) | $6.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $34.4m | $38.2m | $30.8m | $32.5m | $29.2m | $34.6m | $31.6m | $30.3m | $37.2m | $42.1m | |
| Income Taxes Paid, Net | $5.5m | $4.6m | $12.4m | $10.4m | $12.4m | $16.3m | $24.1m | $21.8m | $20.4m | $20.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.