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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has aggregated its operating segments 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 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, “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.

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 CODM of Titan is Paul Reitz (President and CEO of Titan). 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 three months ended March 31, 2025 and 2024 (amounts in thousands):
Three months ended March 31, 2025
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$197,746 $143,290 $149,672 $— $490,708 
Cost of sales173,259 128,397 120,408 — 422,064 
Gross profit$24,487 $14,893 $29,264 $— $68,644 
Selling, general and administrative expenses12,074 11,021 19,087 7,673 49,855 
Research and development expenses1,354 1,849 888 453 4,544 
Royalty expense1,617 347 482 — 2,446 
Segment profit (loss)$9,442 $1,676 $8,807 $(8,126)$11,799 
Interest expense(9,535)(9,535)
Interest income2,239 2,239 
Foreign exchange loss(1,385)(1,385)
Other income1,134 1,134 
(Loss) income before income taxes$(15,673)$4,252 
Three months ended March 31, 2024
AgricultureEarthmoving/ConstructionConsumerCorporate & UnallocatedTotal
Net sales$239,673 $165,208 $77,328 $— $482,209 
Cost of sales199,054 142,231 63,554 — 404,839 
Gross profit$40,619 $22,977 $13,774 $— $77,370 
Selling, general and administrative expenses13,394 11,956 7,803 6,267 39,420 
Acquisition related expenses— — — 6,196 6,196 
Research and development expenses1,230 1,666 336 422 3,654 
Royalty expense1,985 521 522 — 3,028 
Segment profit (loss)$24,010 $8,834 $5,113 $(12,885)$25,072 
Interest expense(8,367)(8,367)
Interest income2,875 2,875 
Foreign exchange loss(275)(275)
Other income405 405 
(Loss) income before income taxes$(18,247)$19,710 


The table below presents net sales by products and reportable segments for the three months ended March 31, 2025 and 2024 (amounts in thousands):
Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentTotal
Three months ended March 31, 2025
Wheels and Tires [including assemblies]$188,367 $54,413 $142,175 $384,955 
Undercarriage systems and components9,379 88,877 7,497 105,753 
Total$197,746 $143,290 $149,672 $490,708 

Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentTotal
Three months ended March 31, 2024
Wheels and Tires [including assemblies]$229,034 $66,245 $71,354 $366,633 
Undercarriage systems and components10,639 98,963 5,974 115,576 
Total$239,673 $165,208 $77,328 $482,209 


Depreciation and amortization expense by segment were as follows as of the periods set forth below (amounts in thousands):
Agricultural SegmentEarthmoving/Construction SegmentConsumer SegmentCorporate & UnallocatedTotal
Three months ended March 31, 2025$6,158 $4,463 $4,661 $589 $15,871 
Three months ended March 31, 20245,708 3,935 1,842 516 12,001