TITAN INTERNATIONAL INC
For the period ended Jun 11, 2025. Filed Apr 23, 2025.
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Jun 11, 2025 · Filed Apr 23, 2025
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TWI$4.93+4.9%Stored close · as of Nov 6, 2026
Contents
Appendix A - Adjusted EBITDA Reconciliation
The table below provides a reconciliation of net income (loss) to Adjusted EBITDA, non-GAAP financial measures, for the twelve-month periods ended December 31, 2024,2023, 2022, 2021 and 2020.
| Twelve months ended | |||||||
|---|---|---|---|---|---|---|---|
| December 31, | |||||||
| (amounts in thousands) · 2024 · 2023 · 2022 · 2021 · 2020 | |||||||
| Net (loss) income | $(3,590) | $83,706 | $179,186 | $49,891 | $(65,077) | ||
| Adjustments: | |||||||
| Provision for income taxes | 11,861 | 26,042 | 23,167 | 1,149 | 6,946 | ||
| Interest expense, excluding interest income | 35,553 | 29,063 | 31,273 | 31,933 | 30,351 | ||
| Depreciation and amortization | 60,704 | 42,434 | 42,747 | 47,991 | 54,655 | ||
| EBITDA | $104,528 | $181,245 | $276,373 | $130,964 | $26,875 | ||
| Adjustments: | |||||||
| Foreign exchange loss (gain) | 6,123 | 22,822 | (927) | (12,020) | 11,025 | ||
| Loss on sale of Australian wheel business | — | — | 10,890 | — | — | ||
| Proceeds from government grant | — | — | (1,324) | — | — | ||
| Income on Brazilian indirect tax credits, gross | — | (475) | (32,043) | — | — | ||
| Loss on senior note repurchase | — | — | — | 16,020 | — | ||
| Asset impairments | — | — | — | — | 20,823 | ||
| Insurance reimbursement | — | — | — | — | (8,580) | ||
| Settlement of legal matter | — | — | — | — | 5,000 | ||
| Gain on sale of Brownsville, Texas facility | — | — | — | — | (4,855) | ||
| Loss on sale of Wheels India Limited shares | — | — | — | — | 2,005 | ||
| Restructuring charges | 1,295 | 1,637 | — | — | 1,737 | ||
| Carlstar transaction costs | 6,196 | — | — | — | — | ||
| Carlstar inventory fair value step-up | 11,500 | — | — | — | — | ||
| Loss on sale of investment | 379 | — | — | — | — | ||
| Gain on property insurance settlement | (1,913) | — | — | — | — | ||
| Adjusted EBITDA | $128,108 | $205,229 | $252,969 | $134,964 | $— | $54,030 | |
| Titan International, Inc. | / | 2025 Proxy Statement | 53 |
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Titan International, Inc.
1525 Kautz Road, Suite 600
West Chicago, IL 60185
www.titan-intl.com
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.