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SUBSIDIARY GUARANTOR FINANCIAL INFORMATION
12 Months Ended
Dec. 31, 2015
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, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$

 
$
640,785

 
$
753,986

 
$

 
$
1,394,771

Cost of sales
2,826

 
558,363

 
695,773

 

 
1,256,962

Gross profit (loss)
(2,826
)
 
82,422

 
58,213

 

 
137,809

Selling, general and administrative expenses
7,513

 
69,686

 
63,194

 

 
140,393

Research and development expenses

 
3,505

 
7,657

 

 
11,162

Royalty expense

 
6,711

 
3,822

 

 
10,533

Income (loss) from operations
(10,339
)
 
2,520

 
(16,460
)
 

 
(24,279
)
Interest expense
(32,291
)
 

 
(1,741
)
 

 
(34,032
)
Intercompany interest income (expense)
825

 
2,361

 
(3,186
)
 

 

Other income (expense)
6,623

 
2,110

 
(2,428
)
 

 
6,305

Income (loss) before income taxes
(35,182
)
 
6,991

 
(23,815
)
 

 
(52,006
)
Provision for income taxes
34,341

 
2,007

 
1,933

 

 
38,281

Equity in earnings of subsidiaries
(20,764
)
 

 
(5,755
)
 
26,519

 

Net income (loss)
(90,287
)
 
4,984

 
(31,503
)
 
26,519

 
(90,287
)
Net loss noncontrolling interests

 

 
(14,654
)
 

 
(14,654
)
Net income (loss) attributable to Titan
$
(90,287
)
 
$
4,984

 
$
(16,849
)
 
$
26,519

 
$
(75,633
)
 
(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 Comprehensive Income (Loss)
For the Year Ended December 31, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
(90,287
)
 
$
4,984

 
$
(31,503
)
 
$
26,519

 
$
(90,287
)
Currency translation adjustment, net
(79,196
)
 

 
(79,196
)
 
79,196

 
(79,196
)
Pension liability adjustments, net of tax
(662
)
 
(1,557
)
 
895

 
662

 
(662
)
Comprehensive income (loss)
(170,145
)
 
3,427

 
(109,804
)
 
106,377

 
(170,145
)
Net comprehensive loss attributable to noncontrolling interests

 

 
(19,391
)
 

 
(19,391
)
Comprehensive income (loss) attributable to Titan
$
(170,145
)
 
$
3,427

 
$
(90,413
)
 
$
106,377

 
$
(150,754
)


(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 Balance Sheets
December 31, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
142,401

 
$
4

 
$
57,783

 
$

 
$
200,188

Accounts receivable

 
59,933

 
117,456

 

 
177,389

Inventories

 
81,993

 
187,798

 

 
269,791

Prepaid and other current assets
11,101

 
21,133

 
30,399

 

 
62,633

Total current assets
153,502

 
163,063

 
393,436

 

 
710,001

Property, plant and equipment, net
8,015

 
138,351

 
303,654

 

 
450,020

Investment in subsidiaries
724,676

 

 
98,660

 
(823,336
)
 

Other assets
34,141

 
1,181

 
79,848

 

 
115,170

Total assets
$
920,334

 
$
302,595

 
$
875,598

 
$
(823,336
)
 
$
1,275,191

Liabilities and Stockholders’ Equity
 

 
 

 
 

 
 

 
 

Short-term debt
$

 
$

 
$
31,222

 
$

 
$
31,222

Accounts payable
2,215

 
12,386

 
108,553

 


 
123,154

Other current liabilities
30,466

 
41,818

 
43,437

 

 
115,721

Total current liabilities
32,681

 
54,204

 
183,212

 

 
270,097

Long-term debt
460,161

 

 
20,243

 

 
480,404

Other long-term liabilities
29,881

 
20,628

 
52,324

 

 
102,833

Intercompany accounts
52,552

 
(271,930
)
 
219,378

 

 

Redeemable noncontrolling interest

 

 
77,174

 

 
77,174

Titan stockholders' equity
345,059

 
499,693

 
323,643

 
(823,336
)
 
345,059

Noncontrolling interests

 

 
(376
)
 

 
(376
)
Total liabilities and stockholders’ equity
$
920,334

 
$
302,595

 
$
875,598

 
$
(823,336
)
 
$
1,275,191


(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
(56,426
)
 
(228,307
)
 
284,733

 

 

Redeemable noncontrolling interest

 

 
71,192

 

 
71,192

Titan stockholders’ equity
511,495

 
500,402

 
354,450

 
(854,852
)
 
511,495

Noncontrolling interests

 

 
7,371

 

 
7,371

Total liabilities and stockholders’ equity
$
960,788

 
$
349,129

 
$
1,040,659

 
$
(854,852
)
 
$
1,495,724



(Amounts in thousands)
Consolidating Condensed Statements of Cash Flows
Year Ended December 31, 2015
 
Titan
 Intl., Inc. (Parent)
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Consolidated
Net cash provided by operating activities
$
15,933

 
$
6,441

 
$
41,556

 
$
63,930

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(2,585
)
 
(6,254
)
 
(39,590
)
 
(48,429
)
Other, net

 
(187
)
 
(1,321
)
 
(1,508
)
Net cash used for investing activities
(2,585
)
 
(6,441
)
 
(40,911
)
 
(49,937
)
Cash flows from financing activities:
 

 
 

 
 

 
 

Proceeds from borrowings

 

 
5,727

 
5,727

Payment on debt

 

 
(5,521
)
 
(5,521
)
Proceeds from exercise of stock options
145

 

 

 
145

Dividends paid
(1,077
)
 

 

 
(1,077
)
Net cash used for financing activities
(932
)
 

 
206

 
(726
)
Effect of exchange rate change on cash

 

 
(14,530
)
 
(14,530
)
Net increase (decrease) in cash and cash equivalents
12,416

 

 
(13,679
)
 
(1,263
)
Cash and cash equivalents, beginning of period
129,985

 
4

 
71,462

 
201,451

Cash and cash equivalents, end of period
$
142,401

 
$
4

 
$
57,783

 
$
200,188

 
(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

 
$
8,584

 
$
58,123

 
$
117,820

Cash flows from investing activities:
 

 
 

 
 

 
 

Capital expenditures
(914
)
 
(8,584
)
 
(48,941
)
 
(58,439
)
Acquisitions, net of cash acquired
(49
)
 

 
(13,346
)
 
(13,395
)
Increase in restricted cash deposits

 

 
14,268

 
14,268

Other, net

 

 
1,296

 
1,296

Net cash used for investing activities
(963
)
 
(8,584
)
 
(46,723
)
 
(56,270
)
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
(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
)
 
$
29,087

 
$
263,597

 
$
116,874

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

 

 
2,119

 
2,119

Net cash used for investing activities
(6,290
)
 
(29,087
)
 
(157,927
)
 
(193,304
)
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 exercse 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