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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION (Senior Secured Notes 6.875 Percent [Member])
12 Months Ended
Dec. 31, 2014
Senior Secured Notes 6.875 Percent [Member]
 
Condensed Financial Statements, Captions [Line Items]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
SUBSIDIARY GUARANTOR FINANCIAL INFORMATION

The Company's 6.875% senior secured notes due 2020 and 5.625% convertible senior subordinated notes due 2017 are guaranteed by the following 100% owned subsidiaries of the Company: Titan Tire Corporation, Titan Tire Corporation of Bryan, Titan Tire Corporation of Freeport, and Titan Wheel Corporation of Illinois. The note guarantees are full and unconditional, joint and several obligations of the guarantors. The guarantees of the guarantor subsidiaries are subject to release in limited circumstances only upon the occurrence of certain customary conditions. The following condensed consolidating financial statements are presented using the equity method of accounting. Certain sales & marketing expenses recorded by non-guarantor subsidiaries have not been allocated to the guarantor subsidiaries.

(Amounts in thousands)
Consolidating Condensed Statements of Operations
Year Ended December 31, 2014
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
879,982

 
$
1,015,545

 
$
—

 
$
1,895,527

Cost of sales
927

 
800,310

 
953,647

 
—

 
1,754,884

Gross profit (loss)
(927
)
 
79,672

 
61,898

 
—

 
140,643

Selling, general and administrative expenses
12,887

 
71,548

 
89,179

 
—

 
173,614

Research and development expenses
72

 
5,309

 
8,624

 
—

 
14,005

Royalty expense
—

 
7,620

 
6,458

 
—

 
14,078

Noncash goodwill impairment charge
—

 
—

 
36,571

 
—

 
36,571

Loss from operations
(13,886
)
 
(4,805
)
 
(78,934
)
 
—

 
(97,625
)
Interest expense
(32,783
)
 
—

 
(3,781
)
 
—

 
(36,564
)
Intercompany interest income (expense)
6,416

 
2,346

 
(8,762
)
 
—

 
—

Other income (expense)
4,258

 
14

 
(22,327
)
 
—

 
(18,055
)
Loss before income taxes
(35,995
)
 
(2,445
)
 
(113,804
)
 
—

 
(152,244
)
Benefit for income taxes
(12,765
)
 
(374
)
 
(8,680
)
 
—

 
(21,819
)
Equity in earnings of subsidiaries
(107,195
)
 
—

 
(26,213
)
 
133,408

 
—

Net income (loss)
(130,425
)
 
(2,071
)
 
(131,337
)
 
133,408

 
(130,425
)
Net loss noncontrolling interests
—

 
—

 
(49,964
)
 
—

 
(49,964
)
Net income (loss) attributable to Titan
$
(130,425
)
 
$
(2,071
)
 
$
(81,373
)
 
$
133,408

 
$
(80,461
)
 
(Amounts in thousands)
Consolidating Condensed Statements of Operations
Year Ended December 31, 2013
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
1,139,366

 
$
1,024,229

 
$
—

 
$
2,163,595

Cost of sales
1,157

 
936,022

 
931,226

 
—

 
1,868,405

Gross profit (loss)
(1,157
)
 
203,344

 
93,003

 
—

 
295,190

Selling, general and administrative expenses
9,608

 
73,196

 
84,567

 
—

 
167,371

Research and development expenses
(35
)
 
5,563

 
5,637

 
—

 
11,165

Royalty expense
—

 
7,327

 
6,932

 
—

 
14,259

Income (loss) from operations
(10,730
)
 
117,258

 
(4,133
)
 
—

 
102,395

Interest expense
(38,761
)
 
—

 
(8,359
)
 
—

 
(47,120
)
Convertible debt conversion charge
(7,273
)
 
—

 
—

 
—

 
(7,273
)
Loss on note repurchase
(22,734
)
 
—

 
—

 
—

 
(22,734
)
Gain on earthquake insurance
—

 
—

 
22,451

 
—

 
22,451

Intercompany interest income (expense)
7,488

 
2,024

 
(9,512
)
 
—

 
—

Other income (expense)
4,189

 
(78
)
 
2,904

 
—

 
7,015

Income (loss) before income taxes
(67,821
)
 
119,204

 
3,351

 
—

 
54,734

Provision (benefit) for income taxes
(26,770
)
 
42,528

 
9,289

 
—

 
25,047

Equity in earnings of subsidiaries
70,738

 
—

 
43,605

 
(114,343
)
 
—

Net income (loss)
29,687

 
76,676

 
37,667

 
(114,343
)
 
29,687

Net loss noncontrolling interests
—

 
—

 
(5,518
)
 
—

 
(5,518
)
Net income (loss) attributable to Titan
$
29,687

 
$
76,676

 
$
43,185

 
$
(114,343
)
 
$
35,205



(Amounts in thousands)
Consolidating Condensed Statements of Operations
Year Ended December 31, 2012
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
1,325,145

 
$
495,533

 
$
—

 
$
1,820,678

Cost of sales
1,065

 
1,051,447

 
474,027

 
—

 
1,526,539

Gross profit (loss)
(1,065
)
 
273,698

 
21,506

 
—

 
294,139

Selling, general and administrative expenses
9,993

 
87,481

 
28,683

 
—

 
126,157

Research and development expenses
381

 
5,741

 
1,026

 
—

 
7,148

Royalty expense
—

 
7,029

 
5,231

 
—

 
12,260

Supply agreement termination income
—

 
—

 
(26,134
)
 
—

 
(26,134
)
Income (loss) from operations
(11,439
)
 
173,447

 
12,700

 
—

 
174,708

Interest expense
(24,066
)
 
—

 
(3,592
)
 
—

 
(27,658
)
Noncash Titan Europe gain
26,700

 
—

 
—

 
—

 
26,700

Gain on acquisition
11,678

 
—

 
—

 
—

 
11,678

Intercompany interest income (expense)
285

 
2,051

 
(2,336
)
 
—

 
—

Other income (expense)
4,847

 
(716
)
 
2,692

 
—

 
6,823

Income before income taxes
8,005

 
174,782

 
9,464

 
—

 
192,251

Provision for income taxes
19,327

 
60,488

 
6,798

 
—

 
86,613

Equity in earnings of subsidiaries
116,960

 
—

 
77,748

 
(194,708
)
 
—

Net income (loss)
105,638

 
114,294

 
80,414

 
(194,708
)
 
105,638

Net loss noncontrolling interests
—

 
—

 
—

 
(1,593
)
 
(1,593
)
Net income (loss) attributable to Titan
$
105,638

 
$
114,294

 
$
80,414

 
$
(193,115
)
 
$
107,231



(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Year Ended December 31, 2014
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(130,425
)
 
$
(2,071
)
 
$
(131,337
)
 
$
133,408

 
$
(130,425
)
Currency translation adjustment, net
(63,424
)
 
—

 
(63,424
)
 
63,424

 
(63,424
)
Pension liability adjustments, net of tax
(5,129
)
 
(4,557
)
 
(572
)
 
5,129

 
(5,129
)
Comprehensive income (loss)
(198,978
)
 
(6,628
)
 
(195,333
)
 
201,961

 
(198,978
)
Net comprehensive loss attributable to noncontrolling interests
—

 
—

 
(68,856
)
 
—

 
(68,856
)
Comprehensive income (loss) attributable to Titan
$
(198,978
)
 
$
(6,628
)
 
$
(126,477
)
 
$
201,961

 
$
(130,122
)


(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Year Ended December 31, 2013
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
29,687

 
$
76,676

 
$
37,667

 
$
(114,343
)
 
$
29,687

Unrealized gain (loss) on investments, net of tax
(3
)
 
—

 
(3
)
 
3

 
(3
)
Currency translation adjustment, net
(24,287
)
 
—

 
(24,287
)
 
24,287

 
(24,287
)
Pension liability adjustments, net of tax
14,749

 
11,472

 
3,277

 
(14,749
)
 
14,749

Comprehensive income (loss)
20,146

 
88,148

 
16,654

 
(104,802
)
 
20,146

Net comprehensive loss attributable to noncontrolling interests
—

 
—

 
(9,734
)
 
—

 
(9,734
)
Comprehensive income (loss) attributable to Titan
$
20,146

 
$
88,148

 
$
26,388

 
$
(104,802
)
 
$
29,880



(Amounts in thousands)
Consolidating Condensed Statements of Comprehensive Income (Loss)
For the Year Ended December 31, 2012
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
105,638

 
$
114,294

 
$
80,414

 
$
(194,708
)
 
$
105,638

Unrealized gain (loss) on investments, net of tax
1,733

 
—

 
1,733

 
(1,733
)
 
1,733

Noncash Titan Europe gain, net of tax
(17,208
)
 
—

 
(17,208
)
 
17,208

 
(17,208
)
Currency translation adjustment, net
(7,191
)
 
—

 
(7,191
)
 
7,191

 
(7,191
)
Pension liability adjustments, net of tax
(642
)
 
954

 
(1,596
)
 
642

 
(642
)
Comprehensive income (loss)
82,330

 
115,248

 
56,152

 
(171,400
)
 
82,330

Net comprehensive loss attributable to noncontrolling interests
—

 
—

 
—

 
(2,007
)
 
(2,007
)
Comprehensive income (loss) attributable to Titan
$
82,330

 
$
115,248

 
$
56,152

 
$
(169,393
)
 
$
84,337



(Amounts in thousands)
Consolidating Condensed Balance Sheets
December 31, 2014
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
129,985

 
$
4

 
$
71,462

 
$
—

 
$
201,451

Accounts receivable
(55
)
 
63,645

 
135,788

 
—

 
199,378

Inventories
—

 
103,230

 
228,202

 
—

 
331,432

Prepaid and other current assets
26,803

 
21,105

 
55,761

 
—

 
103,669

Total current assets
156,733

 
187,984

 
491,213

 
—

 
835,930

Property, plant and equipment, net
7,590

 
160,318

 
359,506

 
—

 
527,414

Investment in subsidiaries
745,084

 
—

 
109,768

 
(854,852
)
 
—

Other assets
51,381

 
827

 
80,172

 
—

 
132,380

Total assets
$
960,788

 
$
349,129

 
$
1,040,659

 
$
(854,852
)
 
$
1,495,724

Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Short-term debt
$
—

 
$
—

 
$
26,233

 
$
—

 
$
26,233

Accounts payable
1,795

 
10,876

 
133,634

 


 
146,305

Other current liabilities
28,519

 
45,291

 
55,208

 
—

 
129,018

Total current liabilities
30,314

 
56,167

 
215,075

 
—

 
301,556

Long-term debt
460,161

 
—

 
36,342

 
—

 
496,503

Other long-term liabilities
15,244

 
20,867

 
71,496

 
—

 
107,607

Intercompany accounts
(105,703
)
 
(228,307
)
 
334,010

 
—

 
—

Titan stockholders' equity
560,772

 
500,402

 
354,450

 
(854,852
)
 
560,772

Noncontrolling interests
—

 
—

 
29,286

 
—

 
29,286

Total liabilities and stockholders’ equity
$
960,788

 
$
349,129

 
$
1,040,659

 
$
(854,852
)
 
$
1,495,724


(Amounts in thousands)
Consolidating Condensed Balance Sheets
December 31, 2013
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
81,472

 
$
4

 
$
107,884

 
$
—

 
$
189,360

Restricted cash
—

 
—

 
14,268

 
—

 
14,268

Accounts receivable
—

 
89,259

 
173,794

 
—

 
263,053

Inventories
—

 
129,113

 
255,807

 
—

 
384,920

Prepaid and other current assets
80,876

 
20,416

 
54,985

 
—

 
156,277

Total current assets
162,348

 
238,792

 
606,738

 
—

 
1,007,878

Property, plant and equipment, net
9,885

 
206,928

 
421,994

 
—

 
638,807

Investment in subsidiaries
884,222

 
—

 
141,752

 
(1,025,974
)
 
—

Other assets
34,259

 
387

 
139,900

 
—

 
174,546

Total assets
$
1,090,714

 
$
446,107

 
$
1,310,384

 
$
(1,025,974
)
 
$
1,821,231

Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Short-term debt
$
—

 
$
—

 
$
75,061

 
$
—

 
$
75,061

Accounts payable
368

 
12,525

 
163,826

 
—

 
176,719

Other current liabilities
15,278

 
58,001

 
61,512

 
—

 
134,791

Total current liabilities
15,646

 
70,526

 
300,399

 
—

 
386,571

Long-term debt
460,161

 
—

 
37,533

 
—

 
497,694

Other long-term liabilities
40,658

 
15,571

 
82,701

 
—

 
138,930

Intercompany accounts
(113,474
)
 
(147,529
)
 
261,003

 
—

 
—

Titan stockholders’ equity
687,723

 
507,539

 
518,435

 
(1,025,974
)
 
687,723

Noncontrolling interests
—

 
—

 
110,313

 
—

 
110,313

Total liabilities and stockholders’ equity
$
1,090,714

 
$
446,107

 
$
1,310,384

 
$
(1,025,974
)
 
$
1,821,231



(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
Year Ended December 31, 2014
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by operating activities
$
51,113

 
$
7,977

 
$
54,982

 
$
114,072

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(914
)
 
(8,584
)
 
(48,941
)
 
(58,439
)
Acquisition of additional interest
(49
)
 
—

 
(13,346
)
 
(13,395
)
Decrease in restricted cash deposits
—

 
—

 
14,268

 
14,268

Other, net
—

 
607

 
4,437

 
5,044

Net cash used for investing activities
(963
)
 
(7,977
)
 
(43,582
)
 
(52,522
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings
—

 
—

 
15,708

 
15,708

Payment on debt
—

 
—

 
(60,345
)
 
(60,345
)
Proceeds from exercise of stock options
141

 
—

 
—

 
141

Excess tax benefit from stock options exercised
(672
)
 
—

 
—

 
(672
)
Payment of financing fees
(33
)
 
—

 
—

 
(33
)
Dividends paid
(1,073
)
 
—

 
—

 
(1,073
)
Net cash used for financing activities
(1,637
)
 
—

 
(44,637
)
 
(46,274
)
Effect of exchange rate change on cash
—

 
—

 
(3,185
)
 
(3,185
)
Net increase (decrease) in cash and cash equivalents
48,513

 
—

 
(36,422
)
 
12,091

Cash and cash equivalents, beginning of period
81,472

 
4

 
107,884

 
189,360

Cash and cash equivalents, end of period
$
129,985

 
$
4

 
$
71,462

 
$
201,451

 
(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
Year Ended December 31, 2013
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by (used for) operating activities
$
(175,810
)
 
$
28,834

 
$
263,625

 
$
116,649

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(6,290
)
 
(29,087
)
 
(44,754
)
 
(80,131
)
Acquisitions, net of cash acquired
—

 
—

 
(95,681
)
 
(95,681
)
Additional equity investment in Wheels India
—

 
—

 
(8,017
)
 
(8,017
)
Increase in restricted cash deposits
—

 
—

 
(14,473
)
 
(14,473
)
Insurance proceeds
—

 
—

 
2,879

 
2,879

Other, net
—

 
253

 
2,091

 
2,344

Net cash used for investing activities
(6,290
)
 
(28,834
)
 
(157,955
)
 
(193,079
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings
745,313

 
—

 
43,391

 
788,704

Repurchase of senior notes
(558,360
)
 
—

 
—

 
(558,360
)
Payment on debt
—

 
—

 
(200,721
)
 
(200,721
)
Convertible note conversion
(14,090
)
 
—

 
—

 
(14,090
)
Capital contribution from noncontrolling interest
—

 
—

 
79,592

 
79,592

Proceeds from exercise of stock options
1,001

 
—

 
—

 
1,001

Excess tax benefit from stock options
(68
)
 
—

 
—

 
(68
)
Payment of financing fees
(12,332
)
 
—

 
—

 
(12,332
)
Dividends paid
(1,046
)
 
—

 
—

 
(1,046
)
Net cash provided by (used for) financing activities
160,418

 
—

 
(77,738
)
 
82,680

Effect of exchange rate change on cash
—

 
—

 
(6,004
)
 
(6,004
)
Net increase (decrease) in cash and cash equivalents
(21,682
)
 
—

 
21,928

 
246

Cash and cash equivalents, beginning of period
103,154

 
4

 
85,956

 
189,114

Cash and cash equivalents, end of period
$
81,472

 
$
4

 
$
107,884

 
$
189,360

 
(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
Year Ended December 31, 2012
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by (used for) operating activities
$
(14,959
)
 
$
35,327

 
$
109,800

 
$
130,168

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(6,931
)
 
(36,025
)
 
(22,784
)
 
(65,740
)
Acquisition, net of cash acquired
780

 
—

 
—

 
780

Other, net
—

 
698

 
368

 
1,066

Net cash used for investing activities
(6,151
)
 
(35,327
)
 
(22,416
)
 
(63,894
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings
—

 
—

 
17,171

 
17,171

Payment of debt
—

 
—

 
(20,811
)
 
(20,811
)
Proceeds from exercise of stock options
934

 
—

 
—

 
934

Excess tax benefit from stock options
184

 
—

 
—

 
184

Payment of financing fees
(1,275
)
 
—

 
—

 
(1,275
)
Dividends paid
(845
)
 
—

 
—

 
(845
)
Net cash used for financing activities
(1,002
)
 
—

 
(3,640
)
 
(4,642
)
Effect of exchange rate change on cash
—

 
—

 
(1,688
)
 
(1,688
)
Net increase (decrease) in cash and cash equivalents
(22,112
)
 
—

 
82,056

 
59,944

Cash and cash equivalents, beginning of period
125,266

 
4

 
3,900

 
129,170

Cash and cash equivalents, end of period
$
103,154

 
$
4

 
$
85,956

 
$
189,114