Titan Machinery Inc. Debt Disclosure
| Year Ended January 31, | ||||||||||||||||||||||||||
| Description | Maturity Dates | Interest Rates | 2024 | 2023 | ||||||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||
| Mortgage loans, secured | Various through May 2039 | 2.1% to 7.3% | $ | 88,669 | $ | 68,689 | ||||||||||||||||||||
| Sale-leaseback financing obligations | Various through December 2030 | 3.4% to 10.3% | 10,043 | 11,252 | ||||||||||||||||||||||
| Vehicle loans, secured | Various through December 2029 | 2.1% to 6.8% | 14,433 | 12,659 | ||||||||||||||||||||||
| Other | Various through July 2039 | 1.2% to 3.6% | 6,968 | 4,591 | ||||||||||||||||||||||
| Total debt | 120,113 | 97,191 | ||||||||||||||||||||||||
| Less: current maturities | 13,706 | 7,241 | ||||||||||||||||||||||||
| Long-term debt, net | $ | 106,407 | $ | 89,950 | ||||||||||||||||||||||
| Years Ending January 31, | Amounts | ||||
| (in thousands) | |||||
| 2025 | $ | 13,706 | |||
| 2026 | 9,318 | ||||
| 2027 | 15,906 | ||||
| 2028 | 14,596 | ||||
| 2029 | 24,260 | ||||
| Thereafter | 42,327 | ||||
| $ | 120,113 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Apr 3, 2024 | Showing above |
| 2023 | Mar 30, 2023 | |
| 2022 | Apr 1, 2022 | |
| 2021 | Mar 31, 2021 | |
| 2020 | Apr 7, 2020 | |
| 2019 | Apr 5, 2019 | |
| 2018 | Apr 6, 2018 | |
| 2017 | Apr 7, 2017 | |
| 2016 | Apr 13, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.