XML 44 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
ASSETS    
Cash and cash equivalents $ 185,318 $ 134,880
Accounts receivable, net of allowance of $1,913 and $2,071 320,831 255,674
Inventories (Note 3) 89,197 81,278
Deferred tax asset - current 8,633 8,649
Prepaid tooling, notes receivable, and other 57,337 44,896
Total current assets 661,316 525,377
Property, plant, and equipment, net 547,782 549,605
Goodwill (Note 6) 67,196 66,976
Investment in joint venture (Note 16) 8,242 8,624
Deferred tax asset - non-current 3,407 3,732
Other assets, net 27,768 28,679
Total assets 1,315,711 1,182,993
LIABILITIES AND STOCKHOLDERS' EQUITY    
Short-term debt and current maturities of capital lease obligations (Note 8) 53,478 39,704
Accounts payable 318,643 262,425
Accrued liabilities 157,085 129,167
Total current liabilities 529,206 431,296
Long-term debt, net of current maturities (Note 8) 481,603 454,073
Obligations under capital leases, net of current maturities (Note 8) 9,726 10,013
Deferred tax liability - non-current 14,442 14,381
Pension liability (Note 10) 51,069 54,915
Other non-current liabilities 81,366 81,446
Total non-current liabilities 638,206 614,828
Total liabilities 1,167,412 1,046,124
Commitments and contingencies (Note 17)      
Tower International, Inc.'s stockholders' equity    
Preferred stock, $0.01 par value, 50,000,000 authorized and 0 issued and outstanding at March 31, 2014 and December 31, 2013 0 0
Common stock, $0.01 par value, 350,000,000 authorized, 21,235,877 issued and 20,595,610 outstanding at March 31, 2014 and 21,079,027 issued and 20,472,637 outstanding at December 31, 2013 212 211
Additional paid in capital 329,860 327,998
Treasury stock, at cost, 640,267 shares as of March 31, 2014 and 606,390 shares as of December 31, 2013 (9,483) (8,594)
Accumulated deficit (242,632) (257,487)
Accumulated other comprehensive income (Note 11) 11,160 12,247
Total Tower International, Inc.'s stockholders' equity 89,117 74,375
Noncontrolling interests in subsidiaries 59,182 62,494
Total stockholders' equity 148,299 136,869
Total liabilities and stockholders' equity $ 1,315,711 $ 1,182,993