TITAN INTERNATIONAL INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
TWI$5.13+1.8%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets at December 31, 2023 and 2022
(All amounts in thousands, except share data)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $220,251 | $159,577 |
| Accounts receivable, net | 219,145 | 266,758 |
| Inventories | 365,156 | 397,223 |
| Prepaid and other current assets | 72,229 | 86,070 |
| Total current assets | 876,781 | 909,628 |
| Property, plant and equipment, net | 321,694 | 296,605 |
| Operating lease assets | 11,955 | 8,932 |
| Deferred income taxes | 38,033 | 38,736 |
| Other long-term assets | 40,782 | 30,729 |
| Total assets | $1,289,245 | $1,284,630 |
| Liabilities | ||
| Current liabilities | ||
| Short-term debt | $16,913 | $30,857 |
| Accounts payable | 201,201 | 263,376 |
| Other current liabilities | 154,261 | 151,928 |
| Total current liabilities | 372,375 | 446,161 |
| Long-term debt | 409,178 | 414,761 |
| Deferred income taxes | 2,234 | 3,425 |
| Other long-term liabilities | 38,043 | 37,145 |
| Total liabilities | 821,830 | 901,492 |
| Equity | ||
| Titan stockholders' equity | ||
| Common stock ($0.0001 par, 120,000,000 shares authorized, 66,525,269 issued at December 2023 and 66,525,269 at December 2022) | — | — |
| Additional paid-in capital | 569,065 | 565,546 |
| Retained earnings | 169,623 | 90,863 |
| Treasury stock (at cost, 5,809,414 shares at December 2023 and 3,681,308 shares at December 2022) | (52,585) | (23,418) |
| Accumulated other comprehensive loss | (219,043) | (251,755) |
| Total Titan stockholders’ equity | 467,060 | 381,236 |
| Noncontrolling interests | 355 | 1,902 |
| Total equity | 467,415 | 383,138 |
| Total liabilities and equity | $1,289,245 | $1,284,630 |
F- 7
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