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SEGMENT AND GEOGRAPHICAL INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION SEGMENT AND GEOGRAPHICAL INFORMATION
We have aggregated our operating segments into reportable segments based on our three customer markets: agricultural, earthmoving/construction, and consumer. These segments are based on the information used by the chief operating decision maker (CODM) 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. Segment external revenues, expenses, and income from operations are determined on the basis of the results of operations of operating units of manufacturing facilities.

We are 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 CODM of Titan is Paul Reitz (our President and CEO). The CODM utilizes both forecasted and actual expense information on a consolidated basis to manage operations. The CODM utilizes segment gross profit and segment operating profit (loss), both in comparison to the prior year and the current forecasted level of gross profit, for purposes of analyzing the segment’s financial performance. The assessment of each segment’s financial performance by the CODM is then utilized to contemplate and execute on business decisions to allocate resources to manage the growth and profitability of each reportable segment and for the Company as a whole. The CODM does not review asset information by segment to manage operations or allocate resources. Therefore, segment assets are not disclosed.

The table below presents information about certain operating results, separated by market segments, for the years ended December 31, 2025, 2024, and 2023 (amounts in thousands):


For the Year Ended December 31, 2025
 AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$740,937 $581,744 $505,762 $1,828,443 
Cost of sales648,214 521,172 405,597 1,574,983 
Gross profit92,723 60,572 100,165 253,460 
Selling, general and administrative expenses52,863 48,551 74,816 176,230 
Research and development expenses5,547 6,982 3,955 16,484 
Royalty expense6,833 1,985 2,288 11,106 
Segment operating income$27,480 $3,054 $19,106 $49,640 
Corporate & unallocated expenses(28,878)
Interest expense(38,708)
Interest income10,703 
Foreign exchange loss(5,020)
Other income965 
Loss before income taxes$(11,298)
For the Year Ended December 31, 2024
 AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$788,580 $583,391 $473,966 $1,845,937 
Cost of sales684,592 520,567 382,976 1,588,135 
Gross profit103,988 62,824 90,990 257,802 
Selling, general and administrative expenses52,910 47,741 64,900 165,551 
Research and development expenses4,994 6,503 3,380 14,877 
Royalty expense6,304 1,571 2,233 10,108 
Segment operating income$39,780 $7,009 $20,477 $67,266 
Corporate & unallocated expenses(34,082)
Interest expense(36,429)
Interest income11,024 
Foreign exchange loss(6,123)
Other income6,615 
Income before income taxes$8,271 


For the Year Ended December 31, 2023
 AgricultureEarthmoving/ConstructionConsumerTotal
Net sales$980,537 $687,758 $153,505 $1,821,800 
Cost of sales817,511 577,068 121,372 1,515,951 
Gross profit163,026 110,690 32,133 305,849 
Selling, general and administrative expenses51,666 47,712 7,684 107,062 
Research and development expenses4,107 6,480 411 10,998 
Royalty expense6,611 1,376 1,658 9,645 
Segment operating income$100,642 $55,122 $22,380 $178,144 
Corporate & unallocated expenses(29,417)
Interest expense(29,157)
Interest income10,372 
Foreign exchange loss(22,822)
Other income2,628 
Income before income taxes$109,748 


The table below presents information by products and reportable segments as of and for the years ended December 31, 2025, 2024, and 2023 (amounts in thousands):

2025Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentTotal
Revenues from external customers   
Wheels and Tires [including assemblies]$700,097 $216,084 $475,923 $1,392,104 
Undercarriage systems and components40,840 365,660 29,839 436,339 
 Total$740,937 $581,744 $505,762 $1,828,443 
2024Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentTotal
Revenues from external customers   
Wheels and Tires [including assemblies]$746,994 $213,994 $448,005 $1,408,993 
Undercarriage systems and components41,586 369,397 25,961 436,944 
 Total$788,580 $583,391 $473,966 $1,845,937 

2023Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentTotal
Revenues from external customers   
Wheels and Tires [including assemblies]$935,274 $258,709 $130,297 $1,324,280 
Undercarriage systems and components45,263 429,049 23,208 497,520 
 Total$980,537 $687,758 $153,505 $1,821,800 

Depreciation and amortization expense by segment were as follows for the fiscal years ended as set forth below (amounts in thousands):
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
2025$26,321 20,819 17,898 2,073 $67,111 
2024$24,850 18,433 15,585 1,836 $60,704 
2023$21,405 15,185 3,404 2,440 $42,434 

The table below presents information by geographic area. Revenues from external customers were determined based on the location of the selling subsidiary. Geographic information as of and for the years ended December 31, 2025, 2024, and 2023 was as follows (amounts in thousands):
202520242023
Net Sales
North America$975,951 $994,257 $819,788 
Europe / CIS446,744 462,157 558,677 
Latin America323,978 292,830 354,979 
Asia and other regions81,770 96,693 88,356 
$1,828,443 $1,845,937 $1,821,800 
Long-Lived Assets  
North America$177,839 $185,636 $108,246 
Europe / CIS160,492 132,349 142,749 
Latin America61,783 53,653 61,169 
Asia and other regions48,796 49,580 9,530 
$448,910 $421,218 $321,694 

Net sales attributable to the United States represented 50.1%, 50.7%, and 44.7% of total net sales for the years ended December 31, 2025, 2024, and 2023, respectively. Long‑lived assets located in the United States accounted for 39.3%, 43.8%, and 33.5% of total long-lived assets as of December 31, 2025, 2024, and 2023, respectively.